Oil drops alittle will it help the consumer

[kst$]

I certainly hope that it drops the price at the pump. Many americans did not travel this Memorial Day weekend basicly because it would have cost double what it cost last year to travel.

BANGKOK, Thailand (AP) - Oil prices dropped below $127 a barrel Wednesday in Asia, extending a decline of more than $3 in the previous session on a growing sense that soaring prices have cut demand for gasoline and other fuel.

The normally busy summer driving season in the U.S. kicked off with the just-ended Memorial Day weekend, and some analysts are predicting that data will show it had a lackluster start.

"It definitely was lower than (previous) Memorial Day weekends," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J.

U.S. Energy Department data covering the weekend won't be released until next week.

Oil prices drop below $127 a barrel

By THOMAS HOGUE,

If americans would pull back alot more on there driving I'm sure they would take the hint and pull back more on there outragous prices of oil and gas.
When the supply is hire then the demand that is what brings the prices down.

[moneysense]

Our state representative here in Ohio, Charlie Wilson, is asking for an investigation into price gouging here in our local area.

During the holiday period, gasoline went to $3.99 a gallon and now that the holiday is over, it immediately dropped to $3.85, so Mr. Wilson has questions about the situation, and is pushing for the investigation.