Is This Exxon Mobile's Fault Too?

Oil prices have come down over the past three days. Oil is still over $130 a barrel, but it is down about $14 since the close on Monday. That's a heck of a slide. The way I figure it, even if oil comes back about $5 over the next 3-5 business days, gasoline prices should be dropping in about 4 -8 days.

Ok, is that as confusing to read as it was to write? Let me bullet this for you:

Monday: 1 barrel of oil about $145
Thursday: 1 barrel of oil about $130
1 gallon of gasoline about $4

My guess is that if oil stays under $140 for the next week, on Friday of next week (or Monday of the week after), gas prices should come down a few pennies.

Now here is my question. Is the DROP in gas prices going to be blamed on Exxon Mobil also, or is Exxon only at fault when the price goes UP? Actually, I am going to put up a poll right above the pod casts. Let's see what you think.

Oh, and let me throw up a prediction... I haven't had a prediction in a while, and I haven't been correct on a prediction since the Republican Primary. But this has been on my mind for a while and I just want to share my feeling with you.

Something (oil related) is going to be attacked by terrorists (surprise surprise) in the Middle East and magically oil prices are going to $175 a barrel. This should happen before Israel attacks Iran at the end of this year. If I am wrong and Israel attacks first, we will see $175 a barrel by March of next year. Be prepared for $5-6 a gallon by summer next year.