Gas prices are getting lower

If there is a silver lining in the current economic crisis, it it the fact that gas prices are dropping. Up here, the lowest in town is $2.95 for RU.

What are you seeing at the pumps out there?

Well my state has been investigated for "price gouging" so now finally we are seen about 2.99 but that is just today.

Now as for the good fortune, I predicted that this will last up to elections so I guess I will enjoy it as long as it last.

Now due to the current financial global crisis perhaps the prices of oil will have to match the crisis as well.

So as long as the financial crisis is on going It will be fair to hope for the prices on gas to stay low.

Reno, NV
We've seen about a 30 cent drop over the last few weeks.
So, just like every price hike, it has been relieved somewhat.


And we are "HAPPY" about paying "ONLY" 3.30 per gallon for unleaded.

Originally posted by marg6043
Now due to the current financial global crisis perhaps the prices of oil will have to match the crisis as well.

So as long as the financial crisis is on going It will be fair to hope for the prices on gas to stay low.

You are so right, marg. How weird is that? How do they fit that into their mumbo-jumbo about why prices are whatthey are at any given time?

Yes this would be fabulous if OPEC hadnt decided to cut the supply to even up the market.
Upon this news I seriously doubt we will see the price drop down to what they were the last time oil hit such lows.
Looks like a good case of get your cake and eat it too if you ask me.

OPEC to discuss how to balance oil market - agency

The next OPEC meeting will study measures to balance the world oil market over the next six months in case it becomes oversupplied amid a deteriorating world financial situation, OPEC President Chakib Khelil was quoted as saying by Algeria's official news agency.

in.news.yahoo.com...

[edit on 15-10-2008 by SEEWHATUDO]

reply to post by jsobecky


Is all about the speculators, Js, they are the ones dictating how oil prices goes up or down.

Central MS is running an average at about $2.90, or so, with lows being seen just over $2.50. With oil prices nearing the averages that were marked before Katrina, gas prices are not falling anywhere near as fast as they rose. Crude is just over $70 a barrel, which should equate to gas price averages just over the $2 mark, not just under.
If it falls below $70 bbl, there is no reason other than self-righteous greed keeping the prices above $2.

As to your reasoning, I agree that the fiscal crisis is having an affect, but it is not just from the crunch alone. People are actually driving less and purchasing less. There is a marginal percentage of people on flexfuel and some on alternative fuels.

All of these factors play a combined role to keep the main-vain-drain going.

reply to post by jsobecky


Funny you should bring this up... I needed to fill up today and was surprised to pay only $3.25.

I say ONLY because we had been paying as much as $4.60 around here.

It scares me a little because I feel like I've sort of been conditioned to accept the more than $3.00 per gallon after paying nearly $5.00.

Prices are still too high, I need to keep telling myself!

yeah it's getting cheaper here in kentucky too, thankfully.


it's kind of funny because a few short weeks ago people on the news and around town etc were talking about how terrible it was that gas was so high and now that gas is dropping in price they are talking about how terrible it is that the price is dropping because it's bad for the economy lol

Becareful what you wish for.....oil/gas is dropping because we are in a deflationary death spiral (world economies are cutting back, supply is high)

I beg you to look up Lindsey Williams on ATS's Peak oil board. He predicted this back in the spring. When oil gets to ~$50 the dollar will be dropped as the oil currency then the SHTF..........

reply to post by sylph hugger


Exactly!!!

Not a one line post.

$2.45 where I live.

It's been that way for about a week.

I wonder how much a barrel of oil costs?

-Lahara

IMO low gas prices is great temporarily,but is not a good sign.

[edit on 15-10-2008 by all2human]

I paid 2.89 today.

Sad that I was thinkin' how CHEAP it was.

About $2.81 around here.

In other towns close to where I live, it's been as low as $2.69.

It'll probably be down a while, and then shoot back up just in time for Thanksgiving, and stay high through the new year.

I think they are getting cheaper...but I want it even more cheaper


When I left Alaska beginning of July, I was paying: $4.56

Was in the Central Cali area all summer, paying: $3.59

Now in the Aurora, CO area, I am paying around $3.14

I am longing for under $3.00 !!!


[edit on 10/15/2008 by greeneyedleo]

Just want to put it out there.


Remember what Lindsey Williams said in July.....

We're down to $2.49 here, some places though are down to $2.30. According to what I saw today, prices are expected to continue falling.

I know the national average is $2.663 as of today, and oil is almost down to $76.00 a barrel.

I drive a car thats good on gas mileage, and filled up a couple of weeks ago, at 3.70 thinking I had a bargain (it was after prices soared to 4.20+). The last time I looked gas was hovering around 3 bucks a gallon here in Louisville. A tank full can last me a whole month, I dont go too many places anymore. Now that gas is dropping, I think I will fill up and drive somewhere. Why is falling gas prices so bad anyway? I think its great!

Something to consider


$50 a barrel