$2.99 a gallon! Now just $1.99 !

We're getting closer to the .10 per grade here, mid and super don't drop with regular but they come down a few weeks down the road.   Seems like the higher grades need to sell out before the price lowers and this time of year that takes a little longer than it does in the summer when the tourists are here. I filled my truck last week for less than $40 @ 1.59, but that's gone back up a little looks like the next tank will be 1.79.

One thing people don't talk about when discussing gas prices is the difference. Wasn't that long ago the difference between 87 and 93 was 20-21 cents. 89 was 10 cent more than 87, 93 was 10 cent more than 89. Now, most places it's 40-48 cents difference between 87 and 93.

OverMyHead wrote: Paid 1.84 on Sunday. I wish I was funded to buy some oil futures about now. I expect prices will be up by boating season!

OPEC doesn't meet again until June, so I expect that these prices may continue until at least then.

Paid 1.84 on Sunday. I wish I was funded to buy some oil futures about now. I expect prices will be up by boating season!

JoeinNY wrote: it doesn't jive with the world view fox has given you so you doubt it..

Joe, I know you would like to think my every thought comes from FOX. Here's a link that shows I am actually 2 weeks ahead of FOX, they even use some of the same quotes this morning that I posted on December 30th.



Gas pump politics

Maybe FOX is reading CCFAN?

I paid 1.94 last fill.

2.11 cheapest I've actually seen in Eastern MA, there's supposed to be a station at 1.99 out in Southbridge MA west of Worcester.

Just saw 1.87 in Iowa. Just payed 2.73 for diesel was making a killing on fuel surcharges for a while oh well.

$1.69 in Flint, MI (Cash or credit)

I can see its going to be another couple years of the talk radio crowd alternating between denying reality and denying that the people running the executive branch for the last 6 years had nothing to do with it... me I'll just go fill up the pick up truck with the good stuff and look forward to my year end 401k statements

Forecasted increase in demand is down, as the population of the world continues to grow there has always been the expectation of increase in demand until such time as the populations leveled off... new regulations and technologies have absolutely effected that forecasted demand (you would know that if you read the reports of those doing the forecasting, cause they tell you that in the report) and that is what drives the cost of oil (to the extent that the market works as all), it is not simple supply and demand but rather forecasted demand and forecasted supply that control the price of oil futures, which becomes the cost of oil.

I just think its odd you would gloat about how right you were about how wrong the current regime was about what it took to reduce gas prices... when 6 years into their regime gas prices are lower than anyone would have predicted possible.

At this time it has nothing to do with our drilling it's all politics and religon. They can produce oil cheaper than anyone.If they wanted to they could just pump more flooding the market and put us out,but they chose to keep production the same. The reasons are the Saudis are Sunni,Iranians are Shi’a. With Iran on the verge of going nuclear they are worried about what their neighbor might do. The last time this happened it resulted in the Iranian revolution. The shah had over spent,the Saudis manipulated the oil market to keep the price lower than the Iranians needed and put them out of "business",the same thing now being done to them and Russia,last time it bought them 30 something years. On a side note my great uncle,a pilot from 1924 to 1970 when he retired from TWA with 28,000 hours was King Faisals pilot. He was in charge of training when TWA was involved with Saudi Arabian Airlines and lived in Jeddah for almost 20 years.

Dave your economics astound me - what proof do you have that the availability of energy alternatives have not had any effect on the price of oil - that's just nonsense - it doesn't jive with the world view fox has given you so you doubt it..

And now gas prices are too low for your taste, talk about being a tough crowd..

If left alone the industry will not find a balance, if left alone this industry will create a monopoly and fix the cost of oil at wherever it feels the market will yield the most profit. That is just a historical fact - or have you never heard of standard oil, or OPEC?

[QUOTE=JoeinNY] Ah but your talking about that drilling that we didn't do... because we re-elected tree hugger obuma /QUOTE]

No I am talking about the drilling we did despite re-electing.....you know, who you said.

I doubt our investments in wind and solar effected the price of oil, and that was a lot of our investment. I don't see electric cars or bio fuels as anything more than minimal contributors either. Global oil demand is at a record high, so its not a demand issue. Must be increased production!

IMHO the price is currently to low, a volatility issue adjusting to the new dynamics. I see the long term settling above 60 a barrel keeping at least some fracking production in the picture. IF left alone (Big IF) the industry will find a balance. In the mean time there are some very interesting Geo-political effects.

Ah but your talking about that drilling that we didn't do... because we re-elected tree hugger obuma that wouldnt let us drill in the arctic national wildlife refuge or build that super duper important tar sands pipeline, or give away leases to drill on national land quick enough. Instead he did crazy things like increase fuel efficiency standards, put research money into alternate energy, and employ regulators that would actually do something when speculators artificially raised the price of oil.... all while apparently not getting in the way of domestic oil production in intelligent locations (since it is at its highest level ever).

But of course 6 years into an obama driven executive branch you are giving the credit for lower oil prices to palin and romney...   

Once again there is no functioning free market setting the price of oil. The fact that OPEC sets production levels is by definition market manipulation. If Saudi Arabia wanted they could sell oil at 35 a barrel... nothing coming out of the us is profitable at that level. So when you pay to much for oil blame them - when it goes down you can thank them.

As for domestic oil production being so high... that probably is actually bushes fault, if he hadnt gotten the price of a barrel of oil so high by starting a couple wars and filling up the strategic reserve in the middle of them, nobody would have considered investing money in domestic projects that cost 50-80 dollars a barrel to produce oil when the Saudis can pump it for half that.   

I read somewhere that the prices were declining because OPEC purposely has not decreased supply with the intent to make the other players on the oil scene, particularly in the USA and Russia, operate at a net loss due to excess supply and low prices and eventually go out of business after which they can jack prices up.

Seemed pretty convincing Oil Crisis Explained in 3 minutes