Gas Prices Back at $2.00
Steve Dunne
Posts: 4,965
Lowest I saw around here was $2.02...finally!!!
(...and I wonder why...)
Woohoo!!!
(...and I wonder why...)
Woohoo!!!
I love to turn you on
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Because demand has tanked. We are in a global recession.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Sweep the Leg Johnny.
Not as long as the price of oil stays down. Part of the problem this summer was that China drove the price up by buying more oil than usual for the Olympics. Combine that with speculators on wall street and doom and gloom environmentalists and you had the perfect storm for a $147 a barrel of oil this summer.
Funny how everyone who said oil would reach the 200-300 a dollar level have been silent the last 4 or 5 months.
- 8/28/98
- 9/2/00
- 4/28/03, 5/3/03, 7/3/03, 7/5/03, 7/6/03, 7/9/03, 7/11/03, 7/12/03, 7/14/03
- 9/28/04, 9/29/04, 10/1/04, 10/2/04
- 9/11/05, 9/12/05, 9/13/05, 9/30/05, 10/1/05, 10/3/05
- 5/12/06, 5/13/06, 5/27/06, 5/28/06, 5/30/06, 6/1/06, 6/3/06, 6/23/06, 7/22/06, 7/23/06, 12/2/06, 12/9/06
- 8/2/07, 8/5/07
- 6/19/08, 6/20/08, 6/22/08, 6/24/08, 6/25/08, 6/27/08, 6/28/08, 6/30/08, 7/1/08
- 8/23/09, 8/24/09, 9/21/09, 9/22/09, 10/27/09, 10/28/09, 10/30/09, 10/31/09
- 5/15/10, 5/17/10, 5/18/10, 5/20/10, 5/21/10, 10/23/10, 10/24/10
- 9/11/11, 9/12/11
- 10/18/13, 10/21/13, 10/22/13, 11/30/13, 12/4/13
Well let's hope that demand continues to stay low after the global economy recovers.
The market has tanked...peeps are selling their oil shares thus the overinflated prices of this past summer are becoming clearer.
routine was the theme..
there aint gonna be any middle any more
Prices have been dropping for the past month.
2.09 here in milwaukee
Peace
*MUSIC IS the expression of EMOTION.....and that POLITICS IS merely the DECOY of PERCEPTION*
.....song_Music & Politics....Michael Franti
*The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite INSANE*....Nikola Tesla(a man who shaped our world of electricity with his futuristic inventions)
I thought the world...Turns out the world thought me
Southern Missouri
Are you in South Jersey? I filled up for 1.95 the other day.
- 8/28/98
- 9/2/00
- 4/28/03, 5/3/03, 7/3/03, 7/5/03, 7/6/03, 7/9/03, 7/11/03, 7/12/03, 7/14/03
- 9/28/04, 9/29/04, 10/1/04, 10/2/04
- 9/11/05, 9/12/05, 9/13/05, 9/30/05, 10/1/05, 10/3/05
- 5/12/06, 5/13/06, 5/27/06, 5/28/06, 5/30/06, 6/1/06, 6/3/06, 6/23/06, 7/22/06, 7/23/06, 12/2/06, 12/9/06
- 8/2/07, 8/5/07
- 6/19/08, 6/20/08, 6/22/08, 6/24/08, 6/25/08, 6/27/08, 6/28/08, 6/30/08, 7/1/08
- 8/23/09, 8/24/09, 9/21/09, 9/22/09, 10/27/09, 10/28/09, 10/30/09, 10/31/09
- 5/15/10, 5/17/10, 5/18/10, 5/20/10, 5/21/10, 10/23/10, 10/24/10
- 9/11/11, 9/12/11
- 10/18/13, 10/21/13, 10/22/13, 11/30/13, 12/4/13
indeed...and let the high prices NOT be forgotten, and we go back to our excessive consumption...forget working towards alternative fuel sources...etc. if nothing else, we should realize just how tenuous, and dangerous, our dependency on foreign oil really is, and start to do something about it!
and i guess i should pay better attention to the pumps, i have no idea what a gallon of gas is in my area at the moment. i utlize public transport and gas up the car so infrequently....i am curious how low our prices are.
Let's just breathe...
I am myself like you somehow
North Jersey but I filled up early last week so that was the last time I noticed the price.
Let's just breathe...
I am myself like you somehow
agreed, the last few years should be a major wake up call. everyone needs to look at this.
that said, once a change of the guard was imminent, prices were bound to go down.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Production uses gas. GDP (a measure of production) in the U.S. is shrinking. World GDP is (or is on it's way to ) doing the same. Demand is going down. Whether it's above where it was last year would completely depend on the demand equation one is using. But, theoretically, world demand is goin down. China, India and the U.S. are not growing at the same rate they have been in the past, therefore they aren't using the amount of gas... which is limiting the amount of demand necessary.
That said, I agree speculators are also bailing.
Good point. I guess it depends on what you are trying to get across. As I'm sure you know a recession is defined as two quarters of negative quarter to quarter growth. So, I was really thinking of things in those terms, rather than annually.
I really believe that I'm not alone in considering the demand for oil to be decreasing significantly. The reason oil was elevated was due to teh spike in demand by emerging-markets. The most noted examples are China and India, who's economies were growing at a rapid pace. In order to fuel the growing output, these countries gobbled up more fuel, increasing global demand. But, now that's been changed as the U.S. consumer slowdown hit EM demand. Obviously, U.S. demand has declined as well.... as our GDP declined.
Additionally, oil producers sell oil for dollars. As the dollar appreciated over the past year or two, it has negatively affected oil producers profits. In order to reap higher profits, producers charged higher prices for a barrel of oil. Therefore, one other area that had pushed oil prices higher is currency markets. That trend has now reversed... dollar has been depreciating and oil prices have followed suit.
Lastly, geopolitics is relatively tame and speculators have largely bailed.
So, all told the major reason for the decline in oil prices is the decline in demand. Whether one wants to say the "decline in demand growth" or "decline in demand" is semantics. The general point is still valid.
$1.89 is the cheapest i saw today
but it always drops before winter, it'll go back up when it gets colder
he had a voice that was strong and loud and
i swallowed his facade cos i'm so
eager to identify with
someone above the crowd
someone who seemed to feel the same
someone prepared to lead the way
I filled up for 1.95 last week ... it was 1.91 today.
for the least they could possibly do
Let's hope these lower prices don't fool us into waiting to produce alternative energy sources.
Ya I live down here too and that's pretty low. I think the lowest I've seen around me is $2.49 - It was $2.53 yesterday.
I am a man, I am advanced.....I am the first man to borrow Stone's leather pants!
187 on ya muthafuckin' ass.
lowest i've seen around me is $2.24 (central ny)
~D.K.S.