"Colossal collapse" in gasoline prices predicted ahead of midterm elections, expert says

[jpak]

https://www.chron.com/news/houston-texas/texas/article/Gas-prices-to-plunge-ahead-of-midterm-election-13357710.php

Gas prices are expected to continue to drop into next week during the midterm elections, a new report predicts.

Oil Price Information Service analyst Tom Kloza told USA Today on Friday that there could be a nationwide "colossal collapse" in gasoline prices thanks to a sharp drop in oil prices.

The industry expert said gas could reach as low as $2 a gallon within the next two weeks.

The prediction echoes a Houston Chronicle report from Monday that noted a 7 cent drop per gallon of gasoline in Bayou City in the past week thanks to a spike in oil production and a slowing global economy.

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[Achilleaze]

1. Tank up quickly. Because this is a republican "treat" & trick

and you can bet your bippy the prices will go up a few day after...

[alittlelark]

2. I have a 55 gallon diesel drum that needs filling...

Guess i’ll Take advantage of it.

[onethatcares]

4. that's scary.

I was going to put one in the trunk of my wifes Accent, but I couldn't figure out how to bungee cord it in.

[Wounded Bear]

19. Silly, for a job like that, you need...

?q=70

[alittlelark]

22. It's for my bobcat - I use the bobcat to move it

Safer than bungees or duct tape. 🤓

[marble falls]

38. You use a bobcat? I thought we were to keep a tiger in out tank.

[madinmaryland]

45. Heh. Nixxon. It's the same old gas.

[marble falls]

49. "Exxon Knoxon" was actually a headline.

[onethatcares]

3. oh yeah,

been thinking the same here in sunny floriduh, but wait, if there's a spike in oil production and it causes this, then we don't need any new pipelines, or wells and maybe we can cap that leaking well in the GOM while prices are down.

Or, we can clearly see this capitalism bullshit about oil prices is just that.

[duforsure]

5. Just like the economy,

After the midterms its going to really start tanking from trump and the gop policies driving the deficit straight up from enriching the wealthy, trade tariffs, and more, and this will be seen very soon causing inflation to go up, and drop the markets badly again. Trump and the gop are only missing a war started, and it would be like what w Bush did only worse. Of coarse he and the gop will claim its the Democrats fault, but just think about how well under President Obama it did, and we're going to see the results from what they've done.

[hatrack]

6. Well, they'd better hurry . ..

Still $2.50-$2.60 here in the Midwest; diesel still $3.00+.

[Nay]

14. Yeah! Gas sure isn't getting cheaper here in VA. They better hurry up.

[Ilsa]

17. Still high in north Georgia, too. Was $2.70

a week ago, only a few cents change.

[Betty88]

20. 2.63 for reg. cash in NJ yesterday nt

[Codeine]

21. $3.99 in SoCal two days ago. nt

[rufus dog]

28. Had my first $50 fill up in years

Last week in the OC.

[IcyPeas]

53. over $4.00 in most places in los angeles vicinity

[Codeine]

55. Not surprising. It's usually a nudge cheaper

out here in the Inland Empire.

[Hermit-The-Prog]

7. return on investment

Lower gasoline prices are a pittance compared to tax cuts for the ultra-rich that GOPers would grant. That $1.5 trillion kickback was just an appetizer.

[True Dough]

26. Truth!

Trumpistas will be jumping for joy over saving pennies per gallon on gas when Dolt 45 is giving away the farm to his 1 per center cronies.

[Cha]

8. It's around $4.00 a gallon here

on Kauai I see by the signs from the bus.

[marble falls]

37. Wish we had a bus system to watch gasoline prices from! Isn't milk around $4.00.gal, too?

[Cha]

50. Don't drink milk, marble falls.

[marble falls]

9. We're been below $2.40 all over town for over two weeks. $2.33 right now at the HEB.

[Maeve]

36. That's about where it is in the Columbus, OH area

At least, at the cheaper places

[marble falls]

39. Hows the election going in Columbus? Are OSU students conservative or liberal these day?

[Maeve]

40. Not entirely sure, but I believe there is going to be a liberal swing in Ohio

The airwaves are full of vicious ads, but who watches regular tv these days? I only see them because my mom keeps the tv on all the time.

[marble falls]

41. That would be sweet. When I still lived in Ohio, Howard Metzenbaum was about as liberal as it got ..

I don't even remember a Democratic governor even when we had two Democratic senators.

[Maeve]

42. Our last Dem governor had the misfortune to be in when The economy tanked

Ted Strickland 2007-2011

And at least we have Sharrod Brown! He looks to be re-elected to the Senate

[marble falls]

43. I think we get it right this election. The question is how to stay fired up until Nov 3, 2020 ...

without putting the personalities of our many truly good potential candidates in the way of politics. We can not afford anyone getting mad and keeping their votes at home.

Fortunately, cheetolini is a great unifier - of Democrats.

[dumbcat]

54. $2.31 at the HEB in Lampasas.

I've seen it a little cheaper somewhere, don't remember where.

[marble falls]

57. $2.26 toaday at HEB, $2.24 at the yellow store. they mark it $2.27 on their sign but its always ...

$.03 cheaper on the pumps.

[JCMach1]

10. Trick hits when the Iranian sanctions kick in

[BumRushDaShow]

18. THIS

(but then this is when Saudi comes into play )

[Generic Brad]

11. Too little, too late

The Saudis and Koch brothers can't buy my vote with a one week $0.56 discount filling the tank on my Prius. I find more coin on the ground when I'm mall walking on the weekend.

[Roland99]

12. $2.49 at some stations around me.

[workinclasszero]

13. It's it the 2.50ish range around here today

I see no colossal collapse, Big Oil better get a move on the election is 3 days away!

[workinclasszero]

15. You can check gas prices here

https://www.gasbuddy.com/


I don't see any big movement down in my area.

YMMV

[BumRushDaShow]

16. I heard this a few days ago on the local news

and it's like uh... the election is in a few days, it'll never drop in time - mainly because in many states, they can only change the price no more than once a week. As it is, they usually drop the price when they have to switch to their "winter blend" of gasoline anyway.

[brooklynite]

23. I paid $3.55 in "low tax" NJ...

...This won't have any impact on election outcomes.

Consider that Trump hasn't crowed about this.

[wishstar]

24. Not even a penny drop where I am in Western NC as of Saturday Nov 3

There was a slight decrease at a couple of stations about a week ago, but many stayed the same. I would think that reinstating sanctions on Iran would tend to keep prices from falling much more.

[jmowreader]

25. Apparently they didn't tell the gas station owners

In my town, regular unleaded is $3.01 and diesel is about $3.30.

[no_hypocrisy]

27. Read just the opposite today.

Gas prices expected to rise starting Monday due to Iranian sanctions. Meaning loss of 33% of present supply.

[Quixote1818]

29. Here is why. Trump got Saudi Arabia and Russia to increase

production for the midterms. https://www.forbes.com/sites/ellenrwald/2018/10/28/3-reasons-why-republicans-got-an-election-break-with-lower-oil-prices/

[bottomofthehill]

30. $2.69 in northern VA

[Doreen]

31. At this time in Centralia Wa prices are about 3.39-3.49 ( regular. )

Of course I always use Chevron or Shell and it depends on if I pay cash or use debit card. I do not actually like it when prices go down because it always is a sign they are going to shoot up past what they were before they went down and then not ever come down. They give us a taste of what the prices used to be then take them up again. Some day the prices they ask now will be a treat before they go up again.

[SoCalDem]

32. OMG..a fellow Centralian

I thought I was all alone here

[Doreen]

33. Hello!!, I thought I was alone in this wretched red county also.

I mean I know people here personally who are blue but did not think anyone here would be on DU. None of my blue friends or family have an interest in being on DU....sad.

[SoCalDem]

34. We moved here in April of 2016.

I love this quaint little place, but have few friends.

we used to live in Riverside county RED RED RED, so this place is not so bad..

I am a bowler, and have many bowling buddies, but my dearest pal ever is still in SoCal..

My husband passed away last week and now I am a solo act

If you ever want to meet for lunch PM me

[Doreen]

44. My heart is with you for the loss of your husband.

Except for living in a few different places in my life ( the best one Germany ) I have lived here all of my life.

I hated this place when I was younger but as I got older I began to like it and am happy here. I may say things about it on occasion but despite those comments I really do like it.

Lunch/coffee would be nice.

[SoCalDem]

46. When we househunted here, it looked like "Mayberry"

We have always lived in/near large communities..exurbs/suburbs
Chicago/KansasCity/Denver/LA-Riverside...so when we saw Centralia, we loved the quaintness of it.. and our creaky 1946 house too..

[Doreen]

47. OMG!! You made me laugh so hard when you said it sounds like Mayberry.

It is close enough to large cities and for me Olympia is just fine for my big city exposure.

[NickB79]

35. $2.60/gal here in MN

Fuck it, I get 45 mpg combined in my Prius wagon.

[Awsi Dooger]

48. I just drove 5340 miles in 16 days so I paid attention to gas prices

Up the eastern seaboard from Miami to Boston, then back.

I paid between $2.42 and $2.99. Prices were dipping slightly so numbers were lower on my return trip than the northward version.

Granted, I'm a value shopper so I normally beat the price. I use Gas Buddy and offshoots like this one:

http://www.miamigasprices.com/

That looks like a Miami-only link but you can use the search box for other cities including in other states.

I always check the prices ahead of me including near the interstate. Nowadays I often set the GPS to a specific gas station let's say 400 miles ahead, if it has the best price on my route. That was a huge breakthrough once I figured that out several years ago. Now I no longer care about checking prices on road signs or looking at prices on actual stations near each exit. I am already heading for the best price and have enough gas to get there.

It always helps to know which states are low and which ones trend higher. On my typical route, South Carolina is dependably low and also portions of Virginia. I always make sure to fill up multiple times in South Carolina. It doesn't jump until I reach Pennsylvania but especially New York and the New England states. This time my only screw up was filling at $2.99 in Albany at 2 AM. I was exhausted and didn't wait to check Gas Buddy. The next day I'm driving through the Saratoga area only 20 or 30 miles away and prices were in the $2.65 range. I felt like a moron.

Until this year I had no idea Delaware was so low. I am never in Delaware but spent several days this time in the Rehoboth Beach area. Prices were quite low, in the $2.42 to $2.49 range.

[trueblue2007]

51. who believes this ??

[MichMan]

52. What is going to happen when electric car sales go up and demand for gasoline drops ?

Will the price of gas continue to go down making gas guzzlers more attractive?

[Blue_Tires]

56. It's already down like 14 cents in VA