Oil falls as investors focus on demand, Middle East?

Question

yahoo news reported oil drop 9$

does this mean price of gas @ gas stations decreased today? (lower price as opposed to say 1 week ago?)

Answer 1

It tells me that "speculation" has screwed us FAR harder than the reality of supply & demand. I expect to pay higher prices when global demands for oil are dramatic. It's a fact of life. But based on this latest story, which I thank you strongly for posting, certasinly gives me grounds for reasonable suspicion that (Wild & often baseless) specualtion has caused not only us, but the entire world, an economic disaster. GREED has caused the major portion of the price mess, not just supply & demand. In my opinion,  Investors pocketed money on this. If they did, then I hope they lose their shirts.