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I'm sick & tired of fuel prices..........


Huzband

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......going down!!!

 

That's right, I said DOWN.

 

Day before yesterday when the truck was on empty, I broke down & filled it up. Diesel had been holding at $2.72 for a week.

 

Today it dropped to $2.55. That doofus move cost me more than $3.75. :dopeslap:

 

 

AAAAARRRRRRGGGGGGGHHH!!!!!!!!!!!!!!!!!!! kboom.gif

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Dave McReynolds

Just be glad that it wasn't Bank of America stock that you bought one day at $20 and 3 days later it was selling for $10 (DAMHIK)

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... Bank of America...

 

Not to hijack my own thread but.... there's just something about that name that sounds prophetic these days. :P

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I bought it for 2.66 at Walmart on Beach Blvd on Monday.

 

 

 

Thanks Bernie.

 

Now I feel dumber than dumb. :P

REG is almost $1 cheaper. How do you feel now :rofl:

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skinny_tom (aka boney)

Wow, it's pretty much $2.50 or less around here. So much for the "everything is more expensive in Kalifornia(stan)" theory.

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I bought it for 2.66 at Walmart on Beach Blvd on Monday.

 

 

 

Thanks Bernie.

 

Now I feel dumber than dumb. :P

 

Sorry about that.

That is how I felt last Friday in Key West. Got a fill up in Miami Beach with the bike,

I figured it would be quite a bit more in the Key's. The price for super was 10 cents cheaper on the islands. Go figure.

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The interesting thing is regular has gone from being 20% less than diesel a few months ago to about 33% less currently. Just sayin'. :grin:

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Went out to lunch today. Usually I take something to work with me and eat there, but I just wanted to get out.

 

I noticed that there was no line at the gas station and since I was down below 1/4 tank I filled up at $1.89. Drove home past the same station this evening at around 5:15 and it was $1.77. The difference, given the 10 gallons I bought, was only $1.20. But it sure did seem unfair. Made me laugh a bit, too.

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Francois_Dumas

You guys are all crazy.....

 

I am SO HAPPY I didn't (manage to) sell my Jeep yet..... price went down, I can ride again and LAUGH ......

 

 

....... and I am paying 5,51 !!!!!!!!!! Wussies !!! :rofl::rofl::rofl:

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Here is the $100 question. Drum roll please.

 

Why is the price of fuel going down?

 

I never heard an understandable reason why it went up over the summer, so it will be interesting to hear theories why it is now headed for, potentially, the $1/gal range. Any takers?

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When the price went up, consumption went down. Supply and demand. Also the possibility of more drilling at home made them think they might lose a customer.

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Here is the $100 question. Drum roll please.

 

Why is the price of fuel going down?

 

I never heard an understandable reason why it went up over the summer, so it will be interesting to hear theories why it is now headed for, potentially, the $1/gal range. Any takers?

 

The whole world is either in, or heading for, recession. This has a huge negative effect on demand for oil and gas, so the prices drop like a stone. OPEC met last week to discuss cutting production in order to bring revenues (prices) back up, but decided that doing so would make any recession deeper and longer harming their own interests in the longer term.

 

Andy

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Here is the $100 question. Drum roll please.

 

Why is the price of fuel going down?

 

I never heard an understandable reason why it went up over the summer, so it will be interesting to hear theories why it is now headed for, potentially, the $1/gal range. Any takers?

Eocnomy is bad and the oil companies got press by announcing BILLION DOLLAR profits.

 

Waiting for new president - than raise prices.

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eVEN tho we don't have ''ride everyday weather'' here in Dull Moan..we DO have cheap fuel...

 

87 proof unleaded = $1.60

 

89 proof 10% = $1.50

 

91 non-ethanol = $1.80

 

Oh - and milk is $2.56 gallon

 

and steaks are around $2.69 / #

 

Okay - then.......you're all caught up. 8^)

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Why is the price of fuel going down?

When we have a million workers (and counting) out of a job, there are lots of vehicles sitting in the driveway and not using gas to travel to the workplace. :P That could be one reason demand is down.

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Lets_Play_Two

The speculators (those who trade futures contracts) look around and see that it is likely that demand will continue to fall for all of the reasons mentioned above except oil company profits and they are now pushing the price down swinging the pendulum the other way. OPEC didn't cut production because they know the cartel no longer drives prices.

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Let me see....As best I recall, gas prices were going up and up because India and China were buying so much of it for their industries and because of speculaters in oil futures.

 

I guess that means that India and China are in a worse recession than we are and speculaters have lost faith.

 

 

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Gas is $1.77/$1.87/$1.97 respectively at the Arco station on the corner. Chevron/Shell, and other name brands are about 10 cents higher on each octane level. The slowdown in the economy coupled with people changing their driving habits has decreased demand in a big way. Talking about a bubble. Here in SoCal in August I was paying $4.50 a gallon for regular. The price has fallen $2.73/gallon in 3 months. Hold onto your wallets folks. Due to this decrease in tax revenue, guess what boys and girls, the FEDS want to raise the gas tax. It is time to start phoning, faxing, or writing letters to your senators and congressman. This also applies to illegal immigration.

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John Ranalletta
Let me see....As best I recall, gas prices were going up and up because India and China were buying so much of it for their industries and because of speculaters in oil futures.

 

I guess that means that India and China are in a worse recession than we are and speculaters have lost faith.

 

If and when you think it will go back up, protect yourself by buying the UGA ETF.
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When the price went up, consumption went down. Supply and demand. Also the possibility of more drilling at home made them think they might lose a customer.

 

Come on Rich, you know that supply and demand are meaningless in the economy. Just ask congress!

 

@#$%@$%@$%$ supply sider, I bet you voted for Reagan too! :rofl:

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......going down!!!

 

That's right, I said DOWN.

 

Day before yesterday when the truck was on empty, I broke down & filled it up. Diesel had been holding at $2.72 for a week.

 

Today it dropped to $2.55. That doofus move cost me more than $3.75.

Give it time, give it time. Nothing has really been fixed at the core.

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John Ranalletta
Give it time, give it time. Nothing has really been fixed at the core.
Fix? Fix? There's no "fix". Gasoline is a commodity the price of which is subject to a huge number of variables. It will never be fixed, unless, of course, a "fix" is everyone having gas at no cost with no environmental impact.

 

Another Utopian daydream.

 

We'll "fix" the pricing problem with gasoline when the pricing problems with corn, wheat, water, air, land, etc. are "fixed".

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Article in the paper recently said we may see gas under $1.00 shortly.

 

I never thought I would live long enough to ever see it, but I'm often wrong.

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Danny,

I don't know how high diesel got in your area, but I'm guessing it was at least $4.50/gal.

If the price coming down is depressing you, then just keep paying the $4.50(or more) per gallon even if the pump is showing something lower. That way you go away happy, and the service station owner will be happy too! :dopeslap:

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Danny,

I don't know how high diesel got in your area, but I'm guessing it was at least $4.50/gal.

If the price coming down is depressing you, then just keep paying the $4.50(or more) per gallon even if the pump is showing something lower. That way you go away happy, and the service station owner will be happy too! :dopeslap:

 

Diesel got to $4.99 a gallon here.

 

Now smartass( :grin:) , it's not the drop that bugs me, it's my poor timing in buying the stuff. I don't mind it going down, just not the same day. :dopeslap:

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Here is the $100 question. Drum roll please.

 

Why is the price of fuel going down?

 

I never heard an understandable reason why it went up over the summer, so it will be interesting to hear theories why it is now headed for, potentially, the $1/gal range. Any takers?

 

The whole world is either in, or heading for, recession. This has a huge negative effect on demand for oil and gas, so the prices drop like a stone. OPEC met last week to discuss cutting production in order to bring revenues (prices) back up, but decided that doing so would make any recession deeper and longer harming their own interests in the longer term.

 

Andy

 

Props, Andy, at least you offered an attempt at explaining it. Personally, I'm still confounded.

 

For example, if the price of oil is being driven by speculation, then why did it peak this summer when everyone except the Disney channel was predicting a world-wide recession? I also doubt that demand rose and then dropped as much as the price has in those few months. So, if neither market forces nor speculation are driving the cost, what is?

 

If our distinguished representatives in Congress want to really deliver on their salaries, they should answer that simple question. I have a feeling there is a lot more to this than we realize. But, in the interest of "stiring the pot," of which I have an international reputation for doing, I'll throw out the possibility that oil producers colluded to run up the price over the summer, knowing that a nasty recession was eminent, in order to bank some coin before the fecial matter hit the fan. And, if that's the case, it would be really good to understand how it was accomplished in the context of "free" markets, so a way can be figured out to un-screw it.

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Danny:

 

The price for a barrel of light sweet crude in November 2000 was $28 per barrel. It hit $106 a barrel in March 2008 and is now at $41.

 

I think you should go fill up all your vehicles before the price drops again. :grin:

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I filled up the truck last Monday for $1.45 per gallon of 87 octane. That same gas station was selling 87 octane for $4.29 per gallon in September. I was one of those folks who predicted $6 a gallon gas by Christmas - in this particular case, I am glad I was wrong. I am fairly certain we will see 87 octane below $1 per gallon in 2009.

 

It's all demand driven at this point - we have massive, widespread demand destruction in the U.S. due to the recession. For the short term, it is a blessing to many families who are struggling to get by right now. This is a bad recession, worse than 1980 - 1981. However, in that one, gas prices were sky high. So at least there is some short term relief.

 

In the long term, low fuel prices are not good as they encourage consumption and discourage exploration and alternative energy research.

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Lets_Play_Two
Danny,

I don't know how high diesel got in your area, but I'm guessing it was at least $4.50/gal.

If the price coming down is depressing you, then just keep paying the $4.50(or more) per gallon even if the pump is showing something lower. That way you go away happy, and the service station owner will be happy too! :dopeslap:

 

Diesel got to $4.99 a gallon here.

 

Now smartass( :grin:) , it's not the drop that bugs me, it's my poor timing in buying the stuff. I don't mind it going down, just not the same day. :dopeslap:

 

You mean you didn't go back and ask for the "new" price?

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Lets_Play_Two

I don't believe worldwide demand for oil has dropped. Just not accelerating at the previous rate. I think I read that 2008 would see an average increase in demand of 100,000 bbls per day and 2009 was expected to stay level. Everyone may have been predicting recession but no one was acting like it was going to happen until Sept. You need to smack the donkey in the head with a hammer just to get it's attention. If you believe economists (that takes a lot of faith) then we have been in recession almost a year and those high oil prices came right along with the recession.

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On spot Gas prices are great right now but lets remember that many homes were locked in to contract prices for home heating oil back in the summer and I am sure they are not happy with that particular choice now.

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I don't believe worldwide demand for oil has dropped. Just not accelerating at the previous rate. I think I read that 2008 would see an average increase in demand of 100,000 bbls per day and 2009 was expected to stay level. Everyone may have been predicting recession but no one was acting like it was going to happen until Sept. You need to smack the donkey in the head with a hammer just to get it's attention. If you believe economists (that takes a lot of faith) then we have been in recession almost a year and those high oil prices came right along with the recession.

 

Some areas like Michigan and Ohio have been in a recession for 4 or 5 years now...maybe even a solid decade. I think recessions at a local or regoinal level get completely ignored. It's only when as a whole the s*** hits the fan that the government takes notice. Actually, many areas in the US still haven't hit a recession and are seeing some growth. I believe most of Iowa is still one of them. Texas and Colorado are probably others.

 

 

I think the drop in oil prices proves taht it was mostly speculation that raised oil ot $147, and it's dropped due to increased production and falling demand in response to the high prices. There is a lag to both. Behaviors and inventories don't just drop overnight and these oil producing nations are very, very slow to throttle back output in response to changing demand and inventories. Keep in mind gas prices normally drop after September anyway.

 

I expect ot see $1.19 by New Years in Missouri. I think heat oil demand will keep price up through March, then in April, look for good old $0.99 gas unless oil producing nations push to lower production.

 

Gee thsoe "deals" from Chrysler for fixed gas prices worked out pretty good.

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