How Low are Gas prices going to dip ?

[bjm5295]

Can anyone explain briefly to me, other than the usual Election times drop (cause it seems more than that), why the price of oil is plummeting while were inthis bank/loans/stock market crisis? Not that i'm complaining, just curious. I would think it would be the opposite.

 

[4wrestling]

2.89 in Philly

 

[wj4]

Originally Posted by infamousod

this is bad. if prices go far under $3 for long there will be a return to old driving habits.

the drop in oil costs should be passed to truckers, and bulk delivery companies and consumers should stay with $3 gas.

I rather my food prices drop than gas price.

I think most people have realized already that oil is a finite source. It will be cheaper, but nowhere near what it used to be. Back in 2004, wewere complaining about gas going above $2 a gallon. If gas was $2 a gallon now, everyone would be at the gas station dancing for joy. It will jump sooner orlater.

 

[yoda]

2.99 on Long Island

 

[sick ik 23]

Damn it's still like 3.50 in Seattle.

 

[willinc]

Originally Posted by brucewanye136

hollywood, fl 2.79 holla!!

filled up for 2.79 today

 

[willapeer]

calis gettin raped, az 2.90 i believe

 

[scarface2k1]

it is 2.75 here in providence.

the economics and problem on the current situation that we are in is that the demand for gas are declined exponentially. opec is going to have an emergencymeeting sometime within the next 30 days to think about cutting production not because prices have dropped, but because the demand has dropped. obviously whenthe demand of a certain good drops, the price will then soon fall. the prices that we all see at the pumps isn't even what it is truly reflecting on theoil & gas futures that are traded, it should be lower, but it takes a little while for the market to correct itself into equilibrium. if opec cutsproduction, the prices will rise, but there will be some equilbrium. i believe that americans will adapt to $3/gallon gasoline as we will have no immediatecure for that, but overtime, alternative energy will more than likely reign supreme as we will have no choice.

alot of the opec countries want gas to be at its absolute highest for the reason that when gas and oil use is at its all time low, they want to have stacked upas much money as possible, as if they dont already have enough to begin with.

 

[kobe back]

2.99 in VA

 

[pacmagic2002]

I dont know, but the fact that the last time gas by the barrel was around the same price, gas was Wayyyy lower than what it is now.....that sucks

 

[mjd77]

Originally Posted by TBONE95860

[font=Arial, Helvetica, sans-serif]National Unleaded Average[/font]

[table][tr][td]
[/td] [td]Regular[/td] [td]Mid[/td] [td]Premium[/td] [td]Diesel[/td] [td]E85[/td] [td]**E85 MPG/BTU adjusted price[/td] [/tr][/table]​

[table][tr][td]Current Avg.[/td] [td]$3.040[/td] [td]$3.171[/td] [td]$3.266[/td] [td]$3.731[/td] [td]$2.433[/td] [td]$3.202[/td] [/tr][tr][td]Yesterday Avg.[/td] [td]$3.084[/td] [td]$3.217[/td] [td]$3.313[/td] [td]$3.764[/td] [td]$2.462[/td] [td]$3.241[/td] [/tr][tr][td]Month Ago Avg.[/td] [td]$3.855[/td] [td]$4.021[/td] [td]$4.142[/td] [td]$4.189[/td] [td]$3.079[/td] [td]$4.052[/td] [/tr][tr][td]Year Ago Avg.[/td] [td]$2.795[/td] [td]$2.968[/td] [td]$3.075[/td] [td]$3.117[/td] [td]$2.269[/td] [td]$2.986[/td] [/tr][/table]​

Notice the problem with the tail end of the graph...gas is not goiong down nearly as fast as oil. We're still getting raped.

 

[kickinheadz1010]

Going to find out today!

 

[freddypee]

$#* is still about 3.40 here in westchester county, ny

 

[cj863]

Gas prices will continue to drop until the November 4th election...

 

[nealraj006]

Depends on the election. But they'll continue to drop or stay where they are until the election has passed.

 

[nealraj006]

Originally Posted by bjm5295

Can anyone explain briefly to me, other than the usual Election times drop (cause it seems more than that), why the price of oil is plummeting while were in this bank/loans/stock market crisis? Not that i'm complaining, just curious. I would think it would be the opposite.

Demand is down now with people struggling to pay for their bills, house, cars, etc. The recession is in effect, so people have to decide how to spend moneywisely.

 

[CP1708]

3.03 here in Oregon.

Dropped .27 cents last week alone.

 

[nktran001]

I had a dream that gas was only $1.99

 

[757shoefanatic]

yesterday it was around $2.69/gal here in VA Beach, VA

 

[eight2one]

2.79

 

[akf0dy7]

I am Furby wrote:

---

Originally Posted by houser34

2.49 here in wonderful New Brighton, Minnesota.

Jesus H! We are still paying $3.50 in Ca!

word. cheapest ive found is $3.29 in SD

 

[kickinheadz1010]

2.99 in my hood

 

[heatpinoyboy]

3.50 @!# here in the bay.
You other guys are lucky haha

 

[cincoseisdos]

cheapest i've found within my area is $3.17 at the station in the Towne Center, gotta go this morning

 

[neptunebeats187]

2.53 here in Akron Ohio... I am hopin' for that $1.99 soon..