Price Of Gas.. Really Dropped Today.

[Tdbo]

Originally Posted By: Tdbo
Originally Posted By: SatinSilver
Right now it's 1.60 here. I'm at half a tank so I will prob fill up since they'll prob raise it in a few days as an xmas present to us.


More like today. Reset to $1.99 +/- .10 cents.



Weird thing for this area.
Gas Buddy called for hike to $1.99.
Everyone around here met that hike.
Went to visit family last night, and a Kroger along the way had $1.66/gal for 87
Mrs. Tdbo goes, "You know there is .50/gal discount from last month on the Kroger card, don't you?"
I needed gas, so why not?
Pull in and fill up for $1.16/gal for 87.
Drive by 3 hours later, and it dropped to $1.63 and is still at that price this AM.
Oh, well.

 

[grampi]

Originally Posted By: HTSS_TR
Grampi said many times "the oil industry doesn't operate in a free market... they operate in a cartel"

If the oil industry operates in a cartel mode then we never see crude oil price dropping from $140 few years ago to less than $40 now.

Crude oil is a world commodity, price is usually determined by supply and demand. High supply low demand equals lower price, opposite will raise price.

OPEC does influence the price of oil when demand is stable and high, they can lower supply to raise price or increase supply to lower price. But as of late demand is weak so manipulating supply doesn't go anywhere.


Just because they operate in a cartel doesn't mean they can set prices wherever they want, especially when you have members of the cartel doing everything they can to bring prices down like OPEC is doing...

 

[grampi]

Originally Posted By: Garak
Originally Posted By: grampi
They still gotta gouge when they can...

They should jack the price by 200% for the two week period surrounding Decemeber 25. It might cut down on highway fatalities.

It wouldn't do that at all...it would just mean people would have less money to spend on Christmas...

 

[grampi]

Originally Posted By: qwerty1234
Originally Posted By: grampi
We've been through this before...the oil industry doesn't operate in a free market...they operate in a cartel...


This quote is most insane and hilarious I've seen on this board.


I'd love to hear what type of a market you think they operate in...

 

[Warstud]

It dropped like a rock today... Got some for $2.26 a gallon.

 

[grampi]

Originally Posted By: Warstud
It dropped like a rock today... Got some for $2.26 a gallon.


Yes, we are back to $2.26 also...makes me wonder why it jumped all the way up to $2.79 a couple of weeks ago...nothing has really changed at all in supply or demand or crude prices over that time period...

 

[OilyWaterMIXER]

Slight downtick here.

Dont forget, we had the summer changeover. That affected price.

 

[HTSS_TR]

Originally Posted By: grampi
Originally Posted By: Warstud
It dropped like a rock today... Got some for $2.26 a gallon.

Yes, we are back to $2.26 also...makes me wonder why it jumped all the way up to $2.79 a couple of weeks ago...nothing has really changed at all in supply or demand or crude prices over that time period...

There are many levels from oil to gas. The oil companies don't own gas stations, they may not even own refineries.

Oil companies and/or refineries may not sell their products directly to gas stations, they sold to distributors and this middleman sells to gas stations.

There is no law dictates how much distributors and retail gas stations can make, they can raise or lower their price at any time they like for whatever reason they choose.

Your price is going down, California price is going up about 20-30 cents in the last 2-3 weeks, it is about $3.10-$3.20 at top tier stations.

 

[Warstud]

I just seen it for $2.51 a gallon. Of course I had to fill up friday when it was $2.65

 

[Kjmack]

Originally Posted by Warstud
I just seen it for $2.51 a gallon. Of course I had to fill up friday when it was $2.65

Well i see your in Mi. also . Our gas prices will be up up and away after our new governor takes the reigns . More gas tax , again.

 

[Nyogtha]

Filled up for $2.199 / gal for TUL E10 tonight here.

It will be intetesting to see what all happens with the latest developments regarding Iran, especially with respect to purchases from India & China, and effects on the markets.

 

[Mr Nice]

Originally Posted by grampi
Originally Posted by Warstud
It dropped like a rock today... Got some for $2.26 a gallon.


Yes, we are back to $2.26 also...makes me wonder why it jumped all the way up to $2.79 a couple of weeks ago...nothing has really changed at all in supply or demand or crude prices over that time period...


Maybe elections cause a drop in prices???

 

[Rmay635703]

Originally Posted by Warstud
It dropped like a rock today... Got some for $2.26 a gallon.

It never drops more than 5 cents a day around here

Usually when other areas get a massive price drop ours goes up a nickel then slowly drops for 6 months.

 

[Warstud]

I just drove by two gas stations that were out of gas and the cheapest I found was $2.29

 

[Kjmack]

That's what happens when the government steps aside and let's companies drill unlike the previous administration . But our gas tax will go up soon with this new governor .

 

[spackard]

Filled up yesterday morning at Costco in Hawthorne, CA. Attendant said it had dropped 10 cents overnight.
Super is $3.399, which is relatively cheap.

 

[Dallas69]

I got reg today for 2.01 gal.
Saw a place on TV for 1.99.
Keep going down please.

 

[Warstud]

I can't believe it's $1.99 here

 

[Nyogtha]

Both Sam's Club and Costco in my area are $1.739 / gal for E10 RUL today.

 

[eljefino]

Originally Posted by grampi
Originally Posted by Warstud
It dropped like a rock today... Got some for $2.26 a gallon.


Yes, we are back to $2.26 also...makes me wonder why it jumped all the way up to $2.79 a couple of weeks ago...nothing has really changed at all in supply or demand or crude prices over that time period...


http://www.thegasgame.com/speedway-effect/