Gas Prices

Thorns2010

On Sunday my dad filled up at $2.63 a gallon.

prytocorduroy

It's a trick! Shit will skyrocket worse than before once we all get back into a routine of carelessly using gas. If it get's down to what it was under $2 a gallon I will be amazed.

g under p

Thorns2010 wrote:

On Sunday my dad filled up at $2.63 a gallon.

$2.63 that would be awesome to see that in DC

Peace

evenkat

Gas prices usually drop before big elections. My guess is prices will start to rise again after the election...especially if McCain wins.

norm

Record retreat in gasoline prices provides scant relief
Demand is down and supplies are up but drivers won't be clogging the highways.
By Ronald D. White
Los Angeles Times Staff Writer

October 15, 2008

Pump prices took a record-setting weekly nose dive, the Energy Department said Tuesday, as oil costs and fuel consumption slumped while gasoline supplies returned to normal around much of the nation.

Analysts say that more price relief probably is on the way but not for the best of reasons: The stumbling U.S. economy is putting the brakes on fuel use.

Although Americans are spending less on average for gasoline than they have since late February, they also are feeling that they have less to spend because of damaged investment portfolios and higher prices for many other items. Add weak consumer confidence, and experts don't expect motorists to start piling on mileage again.

"We will continue to see lower prices, but the sad thing is that this is like losing weight from a parasitic ailment," said Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey. The declines were not enough for behavior modification, he added.

"People aren't going to decide to drive to the Grand Canyon or decide to go out and buy a 3-ton vehicle instead of a 2-ton because of this," Kloza said.

The U.S. average price for a gallon of self-serve regular gasoline hit $3.151 on Monday, down a record 33.3 cents, or 9.6%, from the previous Monday, according to the Energy Department's weekly survey of service stations. The survey results were released a day late this week because of the Columbus Day holiday.

Hurricanes figured prominently in both the old and new gasoline decline records.

This season's hurricanes Gustav and Ike set off a surge as precautionary shutdowns of refineries and oil rigs reduced supplies and kicked prices briefly to $4.50 and higher in some parts of the Southeast.

The old one-week record came after Hurricane Katrina hit the Gulf Coast in 2005. Once some of the severely damaged gulf petroleum facilities began to resume operations, the U.S. average fell 16.9 cents, or 5.7%, during the week of Sept. 19, 2005, said Doug McIntyre, a senior market analyst with the Energy Department's Energy Information Administration.

In California, where supplies were relatively unaffected by Ike, the average price fell 13.1 cents to $3.470 a gallon on Monday. Even with the large decreases around the nation, prices remain substantially above the averages of a year earlier: 41.7 cents higher in California and 38.9 cents higher nationally.

One of those who said she wasn't about to return to her old driving habits despite recent price drops is USC mathematics professor Kimra Haskell, who began riding her bike between her Eagle Rock home and the USC campus during the previous school year.

After riding very little over the summer, Haskell is back to peddling several times a week and feeling great about her decision.

"Most times I'll ride all the way to campus and then ride part of the way back home and then hop on a train or a bus for the rest of the way. It's totally awesome that I have that option," said Haskell, who added that she has reduced the annual mileage she puts on her car to about 6,000 miles from 10,000.

"I'm absolutely not going back to driving full time. The air can be pretty bad, but I've never felt more fit," said Haskell, who attributed part of her decision to wanting to make a statement about reducing dependence on foreign oil.

"I feel like it's a moral and economic imperative to do this," she said.

At the New York Mercantile Exchange on Monday, crude oil for November delivery declined $2.56 to $78.63 a barrel, and some analysts said it had further to fall. Oil is down more than 40% from its peak above $147 in July.

"I'm still bearish," said Phil Flynn, vice president and senior market analyst for the Alaron trading company in Chicago. "There are significant problems on the demand side. China and India and the Middle East are not going to see as much economic growth as people thought a few months ago. In the U.S., we've had a real shock to the system. We are not going to see a rapid rebound in oil demand."

Fadel Gheit, senior energy analyst for Oppenheimer & Co., predicted that oil would land somewhere between $50 and $75 a barrel by early next year.

"No one is talking about $200 oil anymore," he said.

http://www.latimes.com/business/la-fi-gas15-2008oct15,0,2136272,print.story

mickeyrat

g under p wrote:

WOW! $2.78 that is unheard of for me. I hope it gets down to that around here. Thanks for that can anybody else out there BEAT THAT.

Peace

2.69 been falling every day or other day. Wide varience in my town though. Some places close to where I live are upto .15 higher.

All told went from 3.20's before bailout to this today. Kinda expected to go up a tick with OPEC announcing cuts in production the other day. and with the surge in the DOW.

g under p

Late last night $3.05, this morning $3.01, this evening $2.98, this is unreal here in DC/MD.

Peace

BetterThanYou

$2.99 today on the corner. i'm flabbergasted.

melodious

One of the other products we sell in my place of employ is gas. The guys at the main office said that because the market is so unstable, that fuel has to be lower in order to keep the economy going.

We are at 3.49 for unleaded here in the Coastal Hills and I have heard that unleaded is going for 2.99 a gallon down in Calistoga/Napa Valley...

I heard from one of those other sites I read, that gas will continue to fall in price until after the retail season and then rise after the new year.

mickeyrat

mickeyrat wrote:

2.69 been falling every day or other day. Wide varience in my town though. Some places close to where I live are upto .15 higher.

All told went from 3.20's before bailout to this today. Kinda expected to go up a tick with OPEC announcing cuts in production the other day. and with the surge in the DOW.

2.58 was 2.62 this morning. dropped twice in 24 hours

fugawzi

g under p wrote:

What's up every morning on my way to work the price drops. Like this morning REG...$3.10 on my way home $3.05 within the day the price drops 4-5 cents a gallon.

I milked it on E for as long as I could, filled up my truck with 23.86 gallons at $3.05 a gal.....$73.00

This due to the election or what else could it be?

Peace

Well I think it is partially because of the election. Seems like right before a presidential election the price drops and then goes back up after the election. Also though, with the stock market crashing so much lately, oil prices have dropped per barrel directly lowering the price of gas. Don't forget when it was ridiculously high some people just stopped driving around so much because it was so high, less demand directly correlates with cheaper prices.

BetterThanYou

melodious wrote:

One of the other products we sell in my place of employ is gas. The guys at the main office said that because the market is so unstable, that fuel has to be lower in order to keep the economy going.

We are at 3.49 for unleaded here in the Coastal Hills and I have heard that unleaded is going for 2.99 a gallon down in Calistoga/Napa Valley...

I heard from one of those other sites I read, that gas will continue to fall in price until after the retail season and then rise after the new year.

i heard on the news that they're figuring the national average could drop to around $2.80 within a weeks time.

g under p

fugawzi wrote:

Well I think it is partially because of the election. Seems like right before a presidential election the price drops and then goes back up after the election. Also though, with the stock market crashing so much lately, oil prices have dropped per barrel directly lowering the price of gas. Don't forget when it was ridiculously high some people just stopped driving around so much because it was so high, less demand directly correlates with cheaper prices.

This is just crazy this morning here in DC/MD $2.86 at the same gas station for regular. I just hope in December when I get down to Palm Beach Florida for the next 6 months these prices will hold.

Ahhh but I doubt it.

Peace

mickeyrat

g under p wrote:

This is just crazy this morning here in DC/MD $2.86 at the same gas station for regular. I just hope in December when I get down to Palm Beach Florida for the next 6 months these prices will hold.

Ahhh but I doubt it.

Peace

Never know , the OILMAN is on the outs

Commy

thing that gets me about oil prices is...we have the technology to be running every single automobile on electric power. All the oil companies buy up all the patents on all these new batteries and force us to buy their shit, kinda pushing these great ideas to the side. buy, send more money.

If everyone had an electric car, how would they make a profit? and you know they have lobbyists in Washington. I think Exxon has more economic pull in world affairs than Saudi Arabia, Greece, Indonesia...to name a few.

just an example of a how a monetary based system isn't so much looking out for what's best for society. when profit is the bottom line, this is what we get.

g under p

Well This a shocker, my sister just showed me a reciept (because I didn't believe her) from a gas station at Sam's Club in Annapolis Maryland for $2.09.

That's just 20 miles from where I live.

Peace

fugawzi

g under p wrote:

Well This a shocker, my sister just showed me a reciept (because I didn't believe her) from a gas station at Sam's Club in Annapolis Maryland for $2.09.

That's just 20 miles from where I live.

Peace

I actually filled up for $1.85/gal yesterday. That's only because the grocery store I shop at offers "fuel perks". The more $$$ you spend at their store, the more $$$ you get discounted per gallon. Their price was $2.95/gal, I had a savings of $1.10 per gallon = $1.85/gal. Now I start back at 0 and have to accumulate savings by shopping there. I'm sure there are similar places all over the country.

Thoughts_Arrive

fugawzi wrote:

I actually filled up for $1.85/gal yesterday. That's only because the grocery store I shop at offers "fuel perks". The more $$$ you spend at their store, the more $$$ you get discounted per gallon. Their price was $2.95/gal, I had a savings of $1.10 per gallon = $1.85/gal. Now I start back at 0 and have to accumulate savings by shopping there. I'm sure there are similar places all over the country.

We have the same sort of thing here, you shop at a supermarket and use your receipt to get like 10 cents off per liter, but don't fall for it, they jack up the prices of their stock items to cover that discount.
They are taking a lot of people for a ride.

BetterThanYou

fugawzi wrote:

I actually filled up for $1.85/gal yesterday. That's only because the grocery store I shop at offers "fuel perks". The more $$$ you spend at their store, the more $$$ you get discounted per gallon. Their price was $2.95/gal, I had a savings of $1.10 per gallon = $1.85/gal. Now I start back at 0 and have to accumulate savings by shopping there. I'm sure there are similar places all over the country.

is that price chopper? the wife and i have the same thing going on with the place we do our groceries, and we shop at price chopper. i think we're up to $1.50 off each gallon right now, but we're saving it for thanksgiving weekend when we go to her fathers place. hoping to have close to $2.00 off by then.

fugawzi

BetterThanYou wrote:

is that price chopper? the wife and i have the same thing going on with the place we do our groceries, and we shop at price chopper. i think we're up to $1.50 off each gallon right now, but we're saving it for thanksgiving weekend when we go to her fathers place. hoping to have close to $2.00 off by then.

Ours here in Pennsylvania is called "Get-Go" and it's part of the "Giant Eagle" chain of grocery stores.