Omg!!! Gas Prices Fall 15 Cents!!! We're Doomed!!!

[Spike]

Anybody remember which poster here was trying to argue that gas prices never go down? I post this just for that idiot's benefit.

Also, why aren't there live trucks in front of the station where I just filled up for $3.61 per gallon? Is a drop like this not news? Is it only news when it goes up, but not down?


Gas prices nationally drop 15 cents in 2 weeks

CAMARILLO, Calif. - A national survey shows gas prices have dropped 15 cents a gallon in the last two weeks.

The average price of a gallon of regular gasoline at self-serve stations was $3.70 Friday. Mid-grade was at $3.83 and premium was at $3.95.

That's according to the Lundberg Survey of 7,000 gas stations nationwide, released Sunday.

Diesel was at $3.82.

The California average was $3.94, down 16 cents from two weeks ago.

Gas was cheapest in St. Louis, Mo., at $3.37 for a gallon of regular. It was most expensive in Anchorage, Alaksa, at $4.34.

Despite the drop, gas nationally was almost 95 cents higher than a year ago.

Prices so far this summer peaked July 11 at $4.11 for a gallon for regular.

[Mr. Rugen]

Despite the drop, gas nationally was almost 95 cents higher than a year ago.

How much is milk, now?

[Pro]

Also, why aren't there live trucks in front of the station where I just filled up for $3.61 per gallon? Is a drop like this not news? Is it only news when it goes up, but not down?

My shop has covered it. But generally speaking, most drivers think gasoline is still "too high" at $3.61. And they're dubious that this will last very long. That's them, not necessarly me.

[Sigonfile]

You're still getting raked!!!!! It's $3.25 here.

[Spike]

How much is milk, now?

http://cache.boston.com/bonzai-fba/Globe_Graphic/2008/03/09/1205052003_2261.gif

According to the BLS, it went up some more and reached $3.96 in July.

What was your point?

[Spike]

My shop has covered it.

With the same level of hysteria?

When the price of gasoline was rising, there were people predicting that it would just keep going up, $5, then $8, then more, just because it was rising. They seemed to believe that the upward trend would continue forever. Since the price is now dropping, where are those same people to predict that gas will soon be free? Obviously if an upward trend means gas prices will continue to rise, then a downward trend must mean that gas prices will continue to fall.

I'm looking forward to free gas next year.

[Sigonfile]

That's why a month ago you could have bought a 3 year old SUV for less that $10,000, now that prices are dropping, used car prices are rising again on trucks and SUV's.

[HushHush]

I was surprised ... we filled up the sons car on Friday - and it was $3.75 a gallon. Today it was $3.65 a gallon. That was a good drop in two days. However .. I can't help but wonder if the gas station gouged the price on Friday because of the Tropical Storm.

[Spike]

I was surprised ... we filled up the sons car on Friday - and it was $3.75 a gallon. Today it was $3.65 a gallon. That was a good drop in two days.

At that rate, gas will be FREE in 75 days!!!!! By Christmas, they'll be paying you to fill up your son's car!!!!!

[Kace]

Since Congress went on break, the fuel prices went down. ;)

[Mr. Rugen]

According to the BLS, it went up some more and reached $3.96 in July.

What was your point?
No real point, I just remember some people saying that we should be happy gas is what it is, since it's nowhere near what it costs for a gallon of milk. That was last year.

[Pro]

With the same level of hysteria?

That dependend on the "hysteria" of viewers/drivers. It's kind of hard to cover drivers NOT being hysterical.

[Roy Hobbs]

This will backfire on everyone.
http://hogansclassiccars.com/cars/1965_Buick_LeSabre.jpg

[From the Right]

It's Bush's fault the gas prices are going down......
Wait a minute, that can't be right, it's only about Bush when it's bad. Never mind.....

[commercial hack]

Mrs. Hack filled up the mini-van on Friday for $3.33/gal here in Houston.

[rootboyslim]

When the price of oil dropped, did we see a similar "percentage" drop at the pumps?

It might be intersting to see what the price of oil was when gas was about $1.50/gallon and then compare percentage wise to the price when a gallon was more than $4.

[Mr. Pratfall]

It's Bush's fault the gas prices are going down......
Wait a minute, that can't be right, it's only about Bush when it's bad. Never mind.....

Same with Congress.

[ewink]

Gas is cheaper because we got Russia to invade Georgia (http://openline.medialine.com/showthread.php?t=25362)... Somehow that makes sense.

[s'news]

I just took another drive, for no reason other than to celebrate low gas prices.

[FD2BLK]

It's Bush's fault the gas prices are going down......
Wait a minute, that can't be right, it's only about Bush when it's bad. Never mind.....

Wait, I thought it was Nancy Pelosi's fault the prices went up, but Bush gets credit because they've come down.

[The Mockingbird]

I just wanted to let you all know, there's no need to thank me for lowering your gas prices.

I did it out of the kindness of my heart.

[Dap]

Isn't that odd. A conspiracy buff could imagine the price fixing has something to do with the presidential election.

[TAFKA wacowx]

When the price of oil dropped, did we see a similar "percentage" drop at the pumps?

Of course not...because 100% of the oil is not turned into gas. If that were the case, then yes, we should see a 1:1 drop or rise...a direct relation to the price of crude. What we do see is reflected by the amount of gas on hand, ability to produce more, possibility of supply disruptions...etc.

[rootboyslim]

Of course not...because 100% of the oil is not turned into gas. If that were the case, then yes, we should see a 1:1 drop or rise...a direct relation to the price of crude. What we do see is reflected by the amount of gas on hand, ability to produce more, possibility of supply disruptions...etc.

Yes, but should the price of other things derived from oil drop proporationately?

[TAFKA wacowx]

Yes, but should the price of other things derived from oil drop proporationately?

No...because at different times of the year different items created from crude take priority. Plus, the amount of a product already available for use comes into play.

If (using an extreme example) there ends up being another $6 drop in crude but there is an extremely short supply of gas, the likelihood of gas prices dropping isn't that great because the supply of gas will be hard pressed to meet expected demand. Sure, we can start making more gas, but the supply of gas will not reach an equilibrium for weeks...and by that time, NEW physics enter the equation: totally new demand or lack of demand, new price of crude, new levels of supply....etc.

[Clever Login Name]

I'm sure everyone's graphics dept. is working on their "Pleasure At The Pump" OTS's right now.

[Spike]

I'm sure everyone's graphics dept. is working on their "Pleasure At The Pump" OTS's right now.


http://www.nozzlecondom.com/images/NozzleCondom-PostCard-Deale.jpg

[Clever Login Name]

Sweeeett ....

[Pro]

I'm sure everyone's graphics dept. is working on their "Pleasure At The Pump" OTS's right now.

Most drivers feel there is still "pain at the pumps". The pain is, at least temporarly, a bit less severe. But still there. And none think that this will last very long. At least that's what drivers are telling reporters at my shop.

[TAFKA wacowx]

I just hope that now that we are averaging below $4/gal, we don't undo all the great stuff that has been done recently to curb fuel use:

Americans migrating toward smaller,more fuel-efficient cars...
Driving less...Using more public transportation or walking...
Sincere and solid investigation into alternative fuel sources...

I know that I have felt a little free-er recently, with gas prices as low as $3.35 here. I hope that hasn't translated economy-wide because as much as these prices hurt, they are a necessity if we EVER hope to move on to cleaner and more efficient sources of energy.

EDIT: I just found a few stations in the Houston areas selling regular for $3.17!

[Pro]

If history is any indication, that is exactly what will happen.

[Shot A Load]

I just hope that now that we are averaging below $4/gal, we don't undo all the great stuff that has been done recently to curb fuel use:

Americans migrating toward smaller,more fuel-efficient cars...
Driving less...Using more public transportation or walking...
Sincere and solid investigation into alternative fuel sources...

I know that I have felt a little free-er recently, with gas prices as low as $3.35 here. I hope that hasn't translated economy-wide because as much as these prices hurt, they are a necessity if we EVER hope to move on to cleaner and more efficient sources of energy.

EDIT: I just found a few stations in the Houston areas selling regular for $3.17!

I'm sure that's great for those people who can't afford a more fuel efficient car as they are trying to buy food and preparing for increased natural gas costs this winter.

[News Is Broken]

With the same level of hysteria?

When the price of gasoline was rising, there were people predicting that it would just keep going up, $5, then $8, then more, just because it was rising.

I was one of them. I would not be surprised if the price reaches $5 or even $8 within the next 5 years or less. The only thing keeping prices down now is a falloff in demand, but eventually the reality of oil being a fiinite resource will have to settle in. Add to this a crumbling national infrastructure in desperate need of many billions of dollars worth of repair and an increase in fuel taxes is just about inevitable. Let's also not forget that the "presumptive democratic nominee" wants to levy big taxes against big oil, a move which will certainly raise prices even higher at the pump.

In other words, enjoy it while it lasts. It won't last long.

[The Thrill]

http://punditkitchen.files.wordpress.com/2008/07/political-pictures-gas-station-high-score-no-date1.jpg

http://punditkitchen.files.wordpress.com/2008/06/political-pictures-stop-plane-gas-prices.jpg