Gas Prices Redux

[Thomas Maurice Booth]

$2.52 in Buffalo last night.


TMB

[eupher61]

$1.50ish on the MO side, $1.60ish on the KS side, in KC area.

[Todd S. Malicoate]

Filled up today at $1.59 a gallon...even for the "ethanol-free" stuff. Good times. It was really nice to only spend $23.00 to fill up the tank.

I wonder how far down the price will go, and how long it will last when it gets there. Since it's clear that the present administration isn't getting any credit for the decrease in price (even though they shouldered much of the blame for the drastic increases), will the new administration be "blamed" if/when the price starts to rise again?

[Tubaryan12]

....will the new administration be "blamed" if/when the price starts to rise again?

Yes ....by about 46% the country.

[rocksanddirt]

$1.79 here in CA on the weekend.

price falling is purely a supply/demand issue.

[Todd S. Malicoate]

price falling is purely a supply/demand issue.

Surely you are joking. Are you saying the lower prices we are seeing now are due to lower demand for gasoline, or just an abundance of supply? OPEC continues to cut back production to try and boost the price of oil (it ain't workin', by the way) and demand continues to skyrocket across the globe.

If this last oil "crisis" taught us anything, it's that raising (dramatically!) the price of oil has precious little effect on people's demand for it. Most of those folks who claimed they would start walking or biking when gas went over $3.00 a gallon were right there in line buying it when it did.

The price of gas falling as it has is purely because of the general poor economy. I will sit back in my easy chair and laugh at the numerous ill-informed people who blame President Obama for higher gas prices when the economy starts to recover and oil goes back over $100 a barrel. Those of you who blamed President Bush and the government in general for the high prices of gasoline (and who called for measures to "control" that price) got what you wanted...I just hope the poor economy was worth it to you.

[rocksanddirt]

Bloke is right.

There was a speculative bubble, so wholesale/producer market demand was very high. This was due to specualtors concerns about a) the iraq/middle east situation, b) increasing demand (especially for diesel) in China and India, and c) the irrational credit markets.

Now that the bubble burst, and the credit markets imploded....the true retail demand in the US is down, and has been since mid summer. Demand for diesel is down but not as much, and demand in Europe for our fairly clean diesel is still high.

We live in town, have an electric car, and I commute on my bike....so our gasoline usage is down by 75% of what it was 5 yrs ago.

[Tubaryan12]

$1.39 this morning in Parma Heights, Ohio

[tubatooter1940]

Never thought prices would ever drop below $2.
Wouldn't it be great if the oil companies had to pay us to take the stuff off their hands.

[Todd S. Malicoate]

Uh, oh...a bump up here today...went from $1.54 in the morning to $1.69 after work. Yikes!

[Todd S. Malicoate]

That place is just "Oklahoma South" except that the people are annoying enough that even the Oklahomans don't want them!

I think I've just been insulted!

[rocksanddirt]

today I saw the guy changing the sign to $1.759 at the corner across from the university.

lowest it's been around here in at least two full years.

[rocksanddirt]

I'd be surprized if the prices around here get to much lower.

we are already into the "not this low in years" area.

[OldsRecording]

I predict the price of regular unleaded will stabilize at around $2.00/ gallon and stay there for about the next 10-15 years, just as it hit $1.00 in the late '70's and remained there (+/- about 20 cents) until the mid '90's.

[bort]

I was back in Baltimore for the weekend and it was at $1.699 -- aah!

Which is funny, because about 4 years ago, I moved closer to work because filling up 2 times a week at $1.50/gallon was getting too expensive.

[OldsRecording]

I was back in Baltimore for the weekend and it was at $1.699 -- aah!

Which is funny, because about 4 years ago, I moved closer to work because filling up 2 times a week at $1.50/gallon was getting too expensive.

It's all relative, right?

[Thomas Maurice Booth]

$2.29 in Buffalo this morning. The price is finally becoming a little more reasonable around here, but I am glad to be riding the bus and taking the train to work. Especially now that winter is starting to show its face in Western New York...

TMB

[lgb&dtuba]

Gee, any here remember filling up in 1972 @ 17.9/gal?
Those were the days................

I remember trading a muscle car (300hp Nova SS) for a Vega because I thought when gas rose to 29.9 it was too expensive to fill up the muscle car.

I filled up in Atlanta over Thanksgiving and thought $1.49 was great.

[MaryAnn]

Yep, I was riding a '72 Yamaha RD 350 at the time. I could fill the bike up for less than $1. I was screaming bloody murder when prices shot up to 36 cents per gallon.

I used to have one of those....rode it from Albany, NY to Chicago and back, through Indianapolis. Yeekers I about got buzzed to death by that thing. Last two stroke I owned.

But I bought gas this past weekend for 159.9....not bad. Today I saw 157.9 at the same station.

MA

[Jeffrey Hicks]

I paid 1.38 in Batavia OH tonight.