Gas Prices Understood

sorry for the generic comment... trying to catch up with almost 1000 e-mails in here

Makes sense...

I love the low prices but not at the expense of the entire economy failing.....my husband is a trucker and he thinks the gas prices will be back at $3.00 a gallon around Memorial Day or by this summer.......we'll see, I guess!

That makes sense to me.

Nora - thanks - ask him or you tell me why diesel is so much higher than regular.

I'm glad the prices fell as much as they did. I'm thinking that they are likely to hover in the $2 range for a while, but may go higher depending no the public's response to the price decrease. If we start going all crazy with gas guzzling again, the prices will go higher, if we maintain a decreased demand then prices should remain fairly steady. I think.

I like the prices now but I know they will not last

They are already going up here. Was 1.56 per gallon. Now it is up to 1.89 to 1.95, depending on where you buy it.

I think you are right and I think they should pass a law stating they can't use futures as a cost basis. It should be based on what is presently occuring in the market.

Gas prices are back down to about what they were when Bush was inaugurated in 2001.

I think what you said makes sense......I'm hoping they don't go over $2 for a while.

thanks!

1. I've heard the speculation theory before, but I'm not convinced. Call me a whacked-out conspiracy theorist if you wish (you won't be the first) but I really think it was the oil cartel cashing in before Darth Cheney and his congressional catamites left office. They dropped the price from insane to merely exorbitant well before they election so that the screaming would die down before an administration that might regulate, or even prosecute, came into power.

(Keep in mind, that the majority of global oil production and refining is ultimately controlled by less than 50 people.)



2. Speculation (the other kind): How possible is it that the high energy prices were the "tipping point" for the Crash? I'm thinking as follows:

A. Housing boom = many people's finances "Fully Engaged" buying Big Houses and living fat off of HELOCs.

B. Figure conservatively two (30 gallon) tanks of gas per week in the (leased) Escalade, sometimes three. Fuel prices double adding $500/month to overhead (plus increased utilities, etc.)

C. Consumers living check-to-check start maxing out credit cards, queuing for HELOCs, and inevitably missing payments.

D. Ashes, ashes; all fall down.

Gas is starting to go up where I live

I never truly thought I would gas for under $2 again.

Ooops, "see" gas for under $2

I agree with you. Soon the price will be up again around $2-$3 a gallon.

I am not very big fan of these finances and economical talk or terms and those big big theories. But all my small brain understand that partially it depends upon us too. When oil's price rose we started checking our pockets and screaming. When nobody heard our screams we realized that we have to do something by ourselves. People starting saving where ever they can and doing whatever they can.. car pooling, shopping once in month than going every week, using buses to commute.. my hubby used bike to go to office for whole summer and so on. This helped in the drop of gas prices too.. less need.. less demand.. so they had to drop the prices. It was big blow to those people who thought that we can't live without gas and were making big big plans to fill up their pockets with our hard earned money. Now the question is can we still keep up with those new habits of saving some money or gas? Can we still show our fist to those big people to scare them away who are looking forward to reach our pockets once again... I think we need to ask ourselves about this.. I know I am doing this to myself and trying to cut back where ever I can.. rest is up to u..

I have no intentions of hurting anybody's feeling here.. I am just telling my thoughts regarding this to you.. if you don't like it then feel free to ignore me..

I believe the prices will go up as soon as the economy gives enough breathing room for Big Oil to gouge us again. It is a finite product that has peaked. We will be where England is on gas prices before long, maybe next year. Big oil can only charge so much or they lose because we refuse to use. When we use, we lose again. Capitalism and what the market will bear and all. The economy and state of the US society only matters to Big Oil in terms of how it affects their bottom dollar. The farther we get away from needing oil, the better off our US economy and society will be. Go electric, go solar, go wind. I am guessing it goes back to wherever it topped out in your area again before the end of 2009. Obama will get people employed again before the end of 2009 and there will be more money flowing and that will cut the break for Big Oil to do their capitalist thing to us again, gouge us. They gouged the people fleeing the hurricanes, ie, Katrina and the one that followed it, making it more impossible to flee from the hurricanes. They will be no different now. Capitalism, pure capitalism - and greed and inhumanity to man.

I'm proud of us for lowering our use of oil so that the speculators figured it wasn't a good bet any more.
Way to go, drivers.

I think they are going to continue to climb yes.

I always figured that Gas prices had dropped because Congress gave the Oil Giants the expanded off-shore drilling rights that they had wanted.

Another article that I read today said that the prices dropped after talks of investigations started to rise and be seriously considered.

Of course the drop in consumer demand may have had something to do with it also. Oil Futures wouldn't be worth as much as they were paid for, if people continued to lower their consumption.

I've already seen $1.99 here. Last time I bought gas, it was $1.01 because I had a discount from the grocery store. No matter what I have to pay, I still only drive about 25-30 miles a week.

I don't understand totally. What I do know is this: Last week at my corner convenience market gas was 1.49 and 4 days later is was 1.69. I've noticed that the gas prices are creeping up at other locations as well. Just this morning it was said on the radio that the price of oil per barrel has dropped to an all-time low. So why is the price of gasoline rising at the pumps???? !!!! ????

I have absolutely no input to your article Elmo . My intellectual spine is made out of liberal arts concepts . Makes me a fun person to talk to at any party but useless when issues like finances and economy are concerned ....
I like the new gas prices however :)

Great to see it low again.

It makes sense, but also makes me angry. Gas was expensive all summer, which is tourist season. Several resorts have closed and gone into foreclosure....because some investors laid a bet on oil futures? It may be legal, but it feels all wrong.

I expect they'll stay down awhile.

Looks like the prices are going back up in our area (Michigan). One factor is that the U.S. doesn't have enough refineries. That's a convenient way for the oil companies to use supply and demand to keep the price high.

Where I live gas has gone up from $1.65 to $1.85 a gallon.

prices are rising here in Florida as well

I think it will be going up again...way up...

they have already started to go back up where i live!

I just consider gas prices falling a blessing from God./// as far as any earthly reasoning--- there was never any logical reason for it go up THAT FAR anyway. Except my suspicion that they were testing how much the American Public could tolerate before we could no longer buy gas. It was Saudi Arabia's Revenge---and we didn't have a president with enough interest in his public ( goodness, think of how much this Texas Oilman was making on it ) to stand up and say ENOUGH. For him, it wasn't enough--- money in his pocket, I mean. Lonnie Fowler

I don't know but I hope your right.

I love the lower prices.

It's all about speculators.
Thanks for posting to Goldfish Post All!