Gas prices should fall more this week

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Wednesday, November 19, 2008 6:44:50 PM

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GasBuddy News Article

Gas prices should fall more this week Monday, October 13, 2008
Gainsville.com -- After weeks of watching prices fall on Wall Street, Americans spent the weekend watching some prices fall closer to home. Gas stations nationwide and across North Florida have been steadily lowering prices at the pump. Gas prices could fall below $3 a gallon with a week, according to some analysts. The most obvious reason for falling gas prices is that inventories have recovered since September when Hurricanes Gustav and Ike shut down many refineries, according to Randy Bly, director of community relations for AAA Auto Club South. Bly said there was another major factor pushing prices down. "Dropping demand for fuel in the U.S. and other industrialized countries – largely due to a weakening economy as a result of the current domestic and global financial crisis – continues to drive the price of crude oil down with retail gasoline prices following," Bly said. "Last week's report from the U.S Department of Energy indicate larger than expected fuel inventories and the lowest dail
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JT Moderator	Message Posted: 10/13/2008 10:27:43 AM	Ignore JT Report Abuse
	Monday, October 13, 2008 Gainsville.com -- After weeks of watching prices fall on Wall Street, Americans spent the weekend watching some prices fall closer to home. Gas stations nationwide and across North Florida have been steadily lowering prices at the pump. Gas prices could fall below $3 a gallon with a week, according to some analysts. The most obvious reason for falling gas prices is that inventories have recovered since September when Hurricanes Gustav and Ike shut down many refineries, according to Randy Bly, director of community relations for AAA Auto Club South. Bly said there was another major factor pushing prices down. "Dropping demand for fuel in the U.S. and other industrialized countries – largely due to a weakening economy as a result of the current domestic and global financial crisis – continues to drive the price of crude oil down with retail gasoline prices following," Bly said. "Last week's report from the U.S Department of Energy indicate larger than expected fuel inventories and the lowest daily consumption of crude oil – 18.7 million barrels a day – since 1999. Motorists can expect retail gasoline prices to continue to drop at a rapid rate this week." Visit Gainsville.com for full article

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frede2 Champion Author Texas Posts:3,509 Points:765,410 Joined:May 2005	Message Posted: 10/14/2008 11:44:54 AM	Ignore frede2 Report Abuse
	And the oil companies will still make huge profits.
flatcoatfun All-Star Author Orlando Posts:647 Points:194,745 Joined:Nov 2007	Message Posted: 10/14/2008 10:54:24 AM	Ignore flatcoatfun Report Abuse
	Keep falling!
ramshot412 Champion Author Riverside Posts:11,924 Points:1,194,985 Joined:Apr 2004	Message Posted: 10/14/2008 10:54:05 AM	Ignore ramshot412 Report Abuse
	"Watch out after the election" Yep, all the gas prices will come tumbling down....
HawaiianGuy Champion Author Idaho Posts:1,369 Points:1,474,640 Joined:May 2003	Message Posted: 10/14/2008 10:53:34 AM	Ignore HawaiianGuy Report Abuse
	Although we are enjoying lower energy costs, let's not lose sight of the reasons behind them, namely, a slowing economy. THAT is not a good thing.
fairchildd All-Star Author Kansas City Posts:857 Points:362,015 Joined:Aug 2007	Message Posted: 10/14/2008 10:49:41 AM	Ignore fairchildd Report Abuse
	good deal
zmancbr Veteran Author Colorado Posts:262 Points:63,505 Joined:Jul 2008	Message Posted: 10/14/2008 10:48:43 AM	Ignore zmancbr Report Abuse
	I like the crashing sounds of falling gas prices...
wizzard3040 Veteran Author St. Louis Posts:380 Points:166,675 Joined:May 2008	Message Posted: 10/14/2008 10:45:50 AM	Ignore wizzard3040 Report Abuse
	$USD finally has some legs...strength! That will do wonders...Funds seeking some core strenght/safety.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 10:45:25 AM	Ignore chrth Report Abuse
	"Gas should be $2.45 a gallon right now - if all things were equal" If all things were equal: Summer '07 (roughly): Oil Prices: $75/barrel Gas Prices: $3.00/gallon Summer '08 Oil Prices: $145/barrel Gas Prices: $5.80/gallon
Dennis783 Champion Author Wisconsin Posts:5,598 Points:1,121,970 Joined:Sep 2005	Message Posted: 10/14/2008 10:44:52 AM	Ignore Dennis783 Report Abuse
	Watch out after the election
NissanGirl Veteran Author Oregon Posts:302 Points:165,990 Joined:Jan 2008	Message Posted: 10/14/2008 10:42:58 AM	Ignore NissanGirl Report Abuse
	We've got to keep conserving!! They are trying to lull us back into our old habits.
Egaser Veteran Author Atlanta Posts:409 Points:162,015 Joined:Apr 2006	Message Posted: 10/14/2008 10:42:34 AM	Ignore Egaser Report Abuse
	I`m playing the wait a see game.
rbrowdersr All-Star Author Detroit Posts:950 Points:467,000 Joined:Aug 2006	Message Posted: 10/14/2008 10:40:56 AM	Ignore rbrowdersr Report Abuse
	Hope it continues to the level it should be.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 10:40:01 AM	Ignore chrth Report Abuse
	Also remember that winter is approaching (although it's hard to tell in North Carolina today), so you'll see refinery conversion to heating oil. Gas supplies will be down so you could see prices hold steady while oil prices drop. OPEC is going to do their darnedest to keep oil at or above $60. Global demand may push it down to $40-45 (someone even said $20) regardless. You won't see 99 cent gas any time soon, but $2.25 isn't out of the question by the end of winter.
85XJ Champion Author Toledo Posts:4,035 Points:771,355 Joined:Mar 2005	Message Posted: 10/14/2008 10:39:17 AM	Ignore 85XJ Report Abuse
	Showing a rise here. What's up with that?
Kerdink Veteran Author Cincinnati Posts:304 Points:80,305 Joined:Jun 2008	Message Posted: 10/14/2008 10:39:15 AM	Ignore Kerdink Report Abuse
	NYMEX Crude Oil $81.56 10:38am
Kerdink Veteran Author Cincinnati Posts:304 Points:80,305 Joined:Jun 2008	Message Posted: 10/14/2008 10:38:00 AM	Ignore Kerdink Report Abuse
	Gas should be $2.45 a gallon right now - if all things were equal $4.09 = $147 barrel $2.25 = $80 barrel
w4kh Champion Author Riverside Posts:3,655 Points:639,970 Joined:May 2004	Message Posted: 10/14/2008 10:37:27 AM	Ignore w4kh Report Abuse
	Southern California is easing towards $3.00/gallon, with $3.27 here in the "Inland Empire" so far... I am still driving conservatively and enjoying 5 mpg MORE than the EPA said I could get... Even though I have a 40 mile commute (round-trip) I still only fill up about every 10 days... Now, if I had an electric, I'd be in business! Already have solar panels on the roof!
Gerund1 Champion Author Toronto Posts:1,147 Points:828,105 Joined:Apr 2003	Message Posted: 10/14/2008 10:36:27 AM	Ignore Gerund1 Report Abuse
	Sounds good but with the price of oil going up so much for the last couple of days, I doubt it.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 10:35:59 AM	Ignore chrth Report Abuse
	"I'd love to see gas prices half what they were in July - especially since oil's barely half what it was in July..." Oil was also over twice the price this summer over last, while gas was only up around 50%. Be thankful gas prices are not 100% consistent with oil prices as it would've been far far worse this summer.
laddyboy62 Champion Author Riverside Posts:1,576 Points:993,360 Joined:Mar 2005	Message Posted: 10/14/2008 10:35:32 AM	Ignore laddyboy62 Report Abuse
	barrel almost = to last yr same day price..but gallon still 50 cents more?
Tanks_alot Veteran Author Rhode Island Posts:370 Points:50,960 Joined:Sep 2008	Message Posted: 10/14/2008 10:34:19 AM	Ignore Tanks_alot Report Abuse
	Lots of places under $3.00 here in the past few days.
spunky4443 Champion Author Washington Posts:1,151 Points:455,880 Joined:May 2005	Message Posted: 10/14/2008 10:33:18 AM	Ignore spunky4443 Report Abuse
	Diesel should be under $3.00 a Gallon.
patbob56 Champion Author Colorado Springs Posts:1,741 Points:359,700 Joined:Apr 2006	Message Posted: 10/14/2008 10:32:15 AM	Ignore patbob56 Report Abuse
	yes they should
wizzard1222 Veteran Author St. Louis Posts:382 Points:702,800 Joined:Mar 2006	Message Posted: 10/14/2008 10:31:34 AM	Ignore wizzard1222 Report Abuse
	What it's like to be a big Financial Bank= $10 BIILLION ! Here, take it...it's from your Uncle Sam!
cheeringmom Rookie Author Twin Cities Posts:85 Points:31,000 Joined:Apr 2008	Message Posted: 10/14/2008 10:30:56 AM	Ignore cheeringmom Report Abuse
	it is so nice to see it drop but how long will this last
hank1326 All-Star Author Los Angeles Posts:500 Points:125,755 Joined:Jun 2008	Message Posted: 10/14/2008 10:30:53 AM	Ignore hank1326 Report Abuse
	Keep on conserving and buy gas only at lower prices stations.
sandraK Champion Author Grand Rapids Posts:4,166 Points:318,565 Joined:Mar 2005	Message Posted: 10/14/2008 10:30:10 AM	Ignore sandraK Report Abuse
	I love good news!
kingpin6 All-Star Author Arkansas Posts:912 Points:228,825 Joined:Jul 2007	Message Posted: 10/14/2008 10:28:45 AM	Ignore kingpin6 Report Abuse
	Come on down! How low can you go?
SeerLV All-Star Author Las Vegas Posts:532 Points:131,040 Joined:Jun 2008	Message Posted: 10/14/2008 10:26:56 AM	Ignore SeerLV Report Abuse
	Keep dropping!
Sentraholic Champion Author Maryland Posts:2,150 Points:506,465 Joined:Nov 2006	Message Posted: 10/14/2008 10:26:30 AM	Ignore Sentraholic Report Abuse
	I'd love to see gas prices half what they were in July - especially since oil's barely half what it was in July...
checkum Champion Author St. Louis Posts:1,116 Points:214,770 Joined:Jan 2008	Message Posted: 10/14/2008 10:26:25 AM	Ignore checkum Report Abuse
	I gurrantee the prices will go way up sooner than later...Greed rules
esquared Champion Author Oklahoma City Posts:1,401 Points:629,975 Joined:Jan 2006	Message Posted: 10/14/2008 10:26:21 AM	Ignore esquared Report Abuse
	NPR reported a jump in light sweet crude on European markets today....
nyacoub1 All-Star Author Chicago Posts:810 Points:59,905 Joined:May 2007	Message Posted: 10/14/2008 10:26:03 AM	Ignore nyacoub1 Report Abuse
	lower, lower, lower.
steveski Veteran Author Maryland Posts:472 Points:123,850 Joined:May 2008	Message Posted: 10/14/2008 10:25:37 AM	Ignore steveski Report Abuse
	yeah, i'd love to see $1.50. that'd be pretty cool. if people had more $$ in their pockets by using less on gas, the economy would recover too.
no_monkey2002 All-Star Author Tallahassee Posts:849 Points:533,385 Joined:Mar 2006	Message Posted: 10/14/2008 10:23:58 AM	Ignore no_monkey2002 Report Abuse
	Fall the breaks are off....slide...tumble...down down all the way $1.50 a gallon by Christmas
Yonkers111 Champion Author Scranton Posts:2,982 Points:215,410 Joined:Apr 2007	Message Posted: 10/14/2008 10:22:32 AM	Ignore Yonkers111 Report Abuse
	But after the next drop, maybe not much more.
gaschicCT Sophomore Author Hartford Posts:228 Points:58,365 Joined:Apr 2008	Message Posted: 10/14/2008 10:22:31 AM	Ignore gaschicCT Report Abuse
	Since we all know ourselves, we KNOW that we will go back to our pre-conservation ways and and drive all we want .... That's what they are counting on.
suzyq2007 Sophomore Author Dallas Posts:179 Points:199,750 Joined:Oct 2007	Message Posted: 10/14/2008 10:22:23 AM	Ignore suzyq2007 Report Abuse
	some of the stations near my house finally dropped below $3.00. but this still is too high. we need more relief
amacquarrie Veteran Author Nevada Posts:328 Points:76,260 Joined:Jun 2008	Message Posted: 10/14/2008 10:20:43 AM	Ignore amacquarrie Report Abuse
	keep going down
eaglev All-Star Author Oklahoma City Posts:973 Points:331,170 Joined:Jul 2005	Message Posted: 10/14/2008 10:20:28 AM	Ignore eaglev Report Abuse
	Many of our stations have gone back up since a low last Thursday.
NavyEOD Champion Author Los Angeles Posts:1,956 Points:430,415 Joined:Jul 2007	Message Posted: 10/14/2008 10:20:03 AM	Ignore NavyEOD Report Abuse
	Keep falling.
tigeriz Veteran Author Maine Posts:302 Points:73,145 Joined:Aug 2008	Message Posted: 10/14/2008 10:19:35 AM	Ignore tigeriz Report Abuse
	It's great that it's falling. But will it stay that way. Hope for the best, prepare for the worst!
USAFA82 Champion Author Colorado Springs Posts:1,513 Points:258,570 Joined:Feb 2008	Message Posted: 10/14/2008 10:19:28 AM	Ignore USAFA82 Report Abuse
	Had one station crack $3 over the weekend.
tomok Champion Author Portland Posts:9,600 Points:718,135 Joined:Aug 2006	Message Posted: 10/14/2008 10:19:27 AM	Ignore tomok Report Abuse
	Gas prices should fall much lower to be reasonable again. MUCH LOWER! Fall, fall, fall....... Fuel prices are still way too high.....
AnObserver Champion Author New Jersey Posts:1,604 Points:858,340 Joined:Sep 2005	Message Posted: 10/14/2008 10:18:44 AM	Ignore AnObserver Report Abuse
	no resistance here
rockinrog All-Star Author Ontario Posts:833 Points:679,730 Joined:May 2006	Message Posted: 10/14/2008 10:18:00 AM	Ignore rockinrog Report Abuse
	I hope so.
Br549oks Champion Author Kansas Posts:3,897 Points:845,395 Joined:Nov 2005	Message Posted: 10/14/2008 10:16:42 AM	Ignore Br549oks Report Abuse
	keep falling..now other prices need to start falling.
ss70 Champion Author Detroit Posts:3,031 Points:729,535 Joined:Sep 2005	Message Posted: 10/14/2008 10:16:13 AM	Ignore ss70 Report Abuse
	we need $2 gas
Don20 Champion Author Oklahoma City Posts:1,520 Points:1,012,795 Joined:Mar 2005	Message Posted: 10/14/2008 10:15:29 AM	Ignore Don20 Report Abuse
	Today the pump price is $2.30 to $2.45 in many stations. You can pay more if you want name brand stations...
t4204life Champion Author Ohio Posts:4,287 Points:851,710 Joined:Jun 2006	Message Posted: 10/14/2008 10:13:50 AM	Ignore t4204life Report Abuse
	2.83 in Newark