Survey: Gas prices drop 18 cents in 2 weeks
Source: AP-Excite
CAMARILLO, Calif. (AP) A national survey of gas prices reports that the average cost of U.S. regular grade gas dropped 18 cents per gallon in the last two weeks.
Industry analyst Trilby Lundberg said Sunday that the average for regular grade gas is $3.08 per gallon, while midgrade averages $3.31 and premium $3.47. Retail diesel averages $3.67.
Lundberg said the price has dropped 65 cents since its peak in May and is 29 cents below what it was last year.
FULL short story at link.
Read more: http://apnews.excite.com/article/20141026/us-gas-prices-3b713f3438.html
Omaha bucked the trend. Metro Omaha up a dime in the last week. Avg $3.06-$3.12 around here today.
Atman
(31,464 posts)Pretty weird.
eggplant
(3,911 posts)I'd love to see it below three bucks.
George II
(67,782 posts)tnlurker
(1,020 posts)After the election.
Travis_0004
(5,417 posts)Also, what is the motivation for lowering prices before the election. If anything they would want gas prices higher to make Obama look bad and have more republicans elected who tend to be more favorable to big oil.
Historic NY
(37,449 posts)rocktivity
(44,575 posts)$2.80 last time I looked (near Newark NJ)
rocktivity
elias49
(4,259 posts)Kablooie
(18,625 posts)Igel
(35,298 posts)When * was in office, it was assumed lower gas prices = boost for president and majority party, short-term boost to the economy and personal spending power.
Now that Obama's in office, it's assumed lower gas prices = boost for opposition. Because we always know that when things get better, it's assumed the minority power gets the credit.
The only thing constant in that is the assumption that lower gas prices are a rigged game to help our political enemies, no matter what else is equal or changes.
NaturalHigh
(12,778 posts)Lil Missy
(17,865 posts)WhiteTara
(29,703 posts)I don't really understand why, could be political (isn't everything?)
Throd
(7,208 posts)I'm not sure if he has anything to do with the price going down, but a lot of people blame him when it goes up.
Xolodno
(6,390 posts)...In the past a Saudi Prince could just sneeze and the price would jump.
OPEC recently stated they would keep production at current levels. With tar sands, TPL, other oil exporters, other forms of energy etc. cheap oil makes makes it harder for non-OPEC nations to compete...and forces them to abandon plans of developing other oil deposits, other energy deposits, etc. It also makes it harder for "green energy" to compete.
Question is, how long can OPEC keep this up. They need to do this long enough that the infrastructure in developing other energy areas are abandoned (initial costs of start up can be high). Once that is done then they can slowly ratchet up the price over time to cover their losses...but not allow the price to get so high that alternatives to them become attractive.
yellowcanine
(35,699 posts)yellowcanine
(35,699 posts)I am so confused.
left-of-center2012
(34,195 posts)Didn't the GOP warn we'd have $10 a gallon gasoline under Obama?
SteveG
(3,109 posts)to between $2.84 -$2.89 today.