So. How bout those gas prices now?

[JJ]

It seems that only a few months ago we were making threads about how near $4 prices on gasoline had hurt our purchasing power (It was $4.30 here at one point), whether for Blu-rays, or whatnot...

Now, I'm seeing $2.19 for regular-87 around my house, the lowest it has been since my freshman year in college! I'm dancing for joy when I filled up my tank for $35, when it used to take almost $58.

Now, I'm not too savvy when it comes to economics - but are these prices a temporary thing? A little breath of fresh air? What are your thoughts, non-politically related?

[DrinkMore]

$1.88 here.

[gandley]

dont get used to it, most are now predicting that oil will start to climb again soon and go beyoud the level it reached a little while ago. this is tempory and was predicted back in july to go to $50 a barrel at around the time of the usa election and then at some point after climb again, but at what rate i dont know. much slower i would think than the earlier boom.

Will depend if they keep oil pegged to the $. if they move to a basket of currencies then the price will rise sharply in the USA and for a few other countries as well.

Depends how long this financial crisis comtinues, and to how deep the rabit hole goes.

[Forrestandjen07]

Originally Posted by gandley

dont get used to it, most are now predicting that oil will start to climb again soon and go beyoud the level it reached a little while ago.

everyone also said it would spike back up after the election,well that didnt happen

[SillyMammo]

$1.96 here. I'm happy, but it worries me what's behind it all. I've been filling my bathtubs with this "cheap" gas for the last week.

[gandley]

Originally Posted by Forrestandjen07

everyone also said it would spike back up after the election,well that didnt happen

Not yet, i would not expect rises until jan. but wait and see, the financial crisis means demand has receeded. but for how long or how long until Opec do cut production to inflate the market again. Be nice if it would stay like this for a while as we all go into recession.

[mrgreed202]

$1.70 here.

[DrinkMore]

Originally Posted by gandley

Not yet, i would not expect rises until jan. but wait and see, the financial crisis means demand has receeded. but for how long or how long until Opec do cut production to inflate the market again. Be nice if it would stay like this for a while as we all go into recession.

You actually believe that crap? You believe that the "crisis" has made people stop spending so much on gas, that they were able to drop it from nearly $4.00 a gallon to sub $2.00 dollars a gallon? Nearly a $2.00 dollar drop in a months time?

Lol, OK! There is no supply/demand when it comes to oil/gas in this country. There is only demand. There is no difference now and 2 months ago in regards to demand. None. All these people that whined and moaned about gas to start with, were already hurting.

[tommyboy81]

$1.94 here. Stupid Georgia tax.

[tommyboy81]

As long as the market is in the dumps, gas prices will stay or go down. This has nothing to do with the election

[jw]

Originally Posted by DrinkMore

$1.88 here.

1.73 but still over 2.00 in Leesburg

[xtop]

i can almost get premium for under 2 bucks! yay. 1.85 for 87 here.

[Nerdkiller likes BD]

Heh. The thread title sounds like you're gonna pull a joke

Well over here in Ireland, the cost for fuel either skyrockets or plummets. Right now, its at €1.11 per litre.

[jw]

Originally Posted by Forrestandjen07

everyone also said it would spike back up after the election,well that didnt happen

watch the currency exchange.......when the canadian dollar rebounds gas will climb. Alot of fuel comes from up north plus....

The euro has been down as well, Has alot to do with it. The election really didnt do much.

We had a hurricane and the gas actually decreased here, so that proves we dont rely much on our own resources

[scott87]

yeah the prices in the UK have gone down aswell...its good i have a little extra now

[Beta Man]

The price of oil is based on future markets, so a jack in prices due to a hurricane (for instance) is just speculation, and gauging usually .... (if you take a look at their profits, it makes it hard to believe them when they say the sky is falling)

[dpomp]

1.70 the only reason i love oklahoma

[jw]

Opec will just decrease production until they drive prices up. They do it all the time . prices will rebound and we will be complaining again

[CrabbyAzz]

Originally Posted by DrinkMore

You actually believe that crap? You believe that the "crisis" has made people stop spending so much on gas, that they were able to drop it from nearly $4.00 a gallon to sub $2.00 dollars a gallon? Nearly a $2.00 dollar drop in a months time?

You might want to take an economics class. The market crisis reduced the need for gas because;

1 People are traveling less.
2. Industries are using less, since demand for products are down.

So temporarily there is too much gas and thus the price is down. However, some OPEC members (Iran) are trying to reduce production to bring the price per barrel up to $100.

[Blu Jacket]

I'm enjoying the prices while they last, it's about $1.70 here. I was able to fill up my car for less than $17.50 this week, haven't been able to do that in years.