You Will Probably Never Pay Less Than $3 For A Gallon Of Gas Ever Again

[NickB79]

http://consumerist.com/2013/09/17/you-will-probably-never-pay-less-than-3-for-a-gallon-of-gas-ever-again/

A friend posted this on FB. I was tempted to "like" it, but that would probably draw the wrath of all his truck-driving friends.

[doc03]

1. Probably true n/t

[fredamae]

2. I have memories of

Gas Wars----$.4 Cents a Gallon With Soup/Jello/Drinking Glasses/Cottage Cheese etc as a "tip to the customer"--Circa 1950's.
They couldn't do Enuf to get you in to buy Their gas! Windshield washed, Oil and Tire Checks too-With a Smile!

[CanonRay]

3. No "probably" to it

unless you move to Kuwait or something.

[phantom power]

4. I can't picture any scenario that would drive it lower.

Maybe some kind of eventual massive displacement of internal combustion with electric drive trains but that level of penetration will take a long time, and oil won't be getting easier to find in the meantime.

$4/gal seems to be some kind of economic brown trousers threshold. The couple times that threshold has been crossed, it has created waves of demand destruction. Emphasis on destruction.

[FBaggins]

5. except that I did just a few weeks ago.

I must have missed the puppy sighs.

[NickB79]

6. They're discussing the national average

“The reality is that expensive gas is here to stay, which is tough on millions of people who need a car to live their lives. While a few lucky drivers may occasionally pay less than $3.00 per gallon, the national average is likely to remain more costly into the future.”

[FBaggins]

9. And what are they saying now?

Filled up at $2.33/gal over the Thanksgiving holiday weekend.

Has a rebuttal from reality ever come so fast?

[Nihil]

7. Good. (n/t)

[4dsc]

8. And they tell you why?

The reason we are not paying less than $3 is simply because the oil company are exporting in excess of one billion barrels a day.

We import about 8 million barrels a day only to export the refined product.