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Gas Prices!!!







I just saw $2.99 for 87 near me.

What I HOPE is that folks stick with their frugal driving, and thus the prices WILL stay low. Because if people start driving the miles like the used to, simple economics of supply and demand kick in, and prices will be rising again.

I heard a few analysts say they think oil might get back down to $40 a barrel. That means ~$1.50 for 87.
 
I've seen 2.84 around akron. And i dunno if anyone knows this but i heard that the reason gas prices are so low is because the stock markets crashing and the worth of a barrel of oil is going down because of that?? Is that true?? just wonderin
 
evol207girl said:
I've seen 2.84 around akron. And i dunno if anyone knows this but i heard that the reason gas prices are so low is because the stock markets crashing and the worth of a barrel of oil is going down because of that?? Is that true?? just wonderin
Click to expand...

Well in short.........Yes and No.....

Why? Well the demand is way less right now with the current Economic Downturn so thus people are cutting back in all sectors. And one is use of Gas in their cars. Thus when the demand is low, the cost gets lower. And the cost of a barrel of Oil is hovering around $89-90 bucks a barrel as of a day or two ago. Its the lowest it's been in god knows how long. We will continue to see the price of a gallon of gas drop through the roof? Maybe, but I am not holding my breath. The big oil companies still have to make their profits, so don't expect to see it dip below $2 bucks anytime soon.

And of course OPEC, those lovely bastiages, stated the other day that they are going to cut production due to the overall global climate that supply is over exceeding the demand. They got use to the $140 for a barrel of oil and now they cut it back cause its hurting their gold pockets.

Pfft!! Is all I can say to that :)
 


Gas prices are all over the place near me. Two weeks ago, a station that was the cheapest by 5 cents is now 15 cents MORE than another. Weird. Not complaining, of course...
 
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