Gas is dropping again, lowest price by me is $2.19

[DainBramaged]

It was a high of $2.53 July 3rd. The roller coaster begins again.


http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20090603&id=9851767

Oil prices tumble near $60 as gas supplies surge

Oil prices neared $60 per barrel Wednesday as the government reported unused gasoline held in storage surged yet again.

Retail gas prices have fallen every day for more than two weeks, and gasoline futures fell more than 9 cents a gallon.

Energy markets are undergoing an extended sell-off, the longest in 10 months, with new economic reports dampening optimism about any economic recovery.

Benchmark crude for August delivery fell more than 4 percent, or $2.79, to settle at $60.14 a barrel on the New York Mercantile Exchange.

In just over one week, oil prices have fallen more than 18 percent.

"The recession is far from over," said analyst Stephen Schork. "Perhaps the run-up in prices was a bit overstated."

[gauguin57]

1. I drove through two Northeastern states during the last two days ... lowest I saw was $2.45

But that's better than the $2.69 I saw in a few places).

[DainBramaged]

3. NJ, home of big hair and cheap gas

:hi:

[TommyO]

6. It was $2.32 at the cheapest place on Rt 9 in Bayville this morning

I suspect one of the places will be at $2.29 on the drive home

[gauguin57]

10. AND of gas you can't pump yourself.

That still freaks me out.

[DainBramaged]

25. And the service simply SUCKS for what they charge

NO ONE cleans your windshield, NO ONE checks your oil (they don't know how) and they are rude and slow. EVERYWHERE in NJ.

[TommyO]

39. Having moved here from Pennsylvania, I hate the fact that NJ doesn't have self-serve

I can do it faster than one overworked 18-something year old who is watching eight or more pumps.

[Blaze Diem]

2. Well ol' Boon Pickens says oil may be $100 a barrell by end of year..

also says its hard to predict. If the economy improves the price of oil will also increase.

Why he's now again investing in Natural Gas.
All I get from watching this market is that it won't stay the same for long.

[bigwillq]

4. It's around 2.65-2.70 in CT

at least the places around where I live and work.

[backscatter712]

5. Goldman Sachs is dumping their futures.

I guess they couldn't get more speculators to jump in with them to drive it up to $4, so they're dumping their oil futures.

I'm surprised - it's not an election year - they usually dump their oil futures in the height of election season to try to get more people to vote Republican...

[DJ13]

7. I paid $2.99 for regular yesterday

Im still waiting for it to drop here in Ca..

[spanone]

8. 2.49 cheapest i've seen in mid-tenn.

[LWolf]

9. I filled up the day before yesterday. Lowest price in town was $2.85. nt

[Zynx]

11. Oil has dropped from $73 to $60 in a week and a half.

It will probably only continue to drop. Nothing supports it being high.

[taterguy]

13. Wanna bet?

Seriously, let's make a wager

[DainBramaged]

16. Tater, did you READ the link??? It has dropped A LOT

[taterguy]

18. What wager would you like to make?

I guess the challenge will be agreeing on a time frame and a dollar amount.

I just read the link. The most interesting part is the claim that Americans are driving billions fewer miles.

Christ, where the hell is everybody going?

If I lost my job my fuel consumption would drop about two gallons a month. Give or take a tank or two if I skipped a vacation.

[Zynx]

19. Millions of people take road trips that are at least several hundred and some times a couple

thousand miles. Those trips got nipped in the bud this year.

Here's a chart:

[DainBramaged]

23. I have gone NOWHERE except the 75 mile round trip to my Mom's house

to work on it a couple of times last month. That added miles I don't normally use, but like everyone else, I cut way back, shopping once a week on the way home from work, movies maybe once in a blue moon now.

Got to conserve and save bucks.

[taterguy]

26. Is the decrease in VMT the result of fewer road trips or fewer people driving to work?

Or is this one of many issues where we have no idea and therefore just make shit up?

[Zynx]

27. In prior recessions there was really no damage to VMT.

Part of that could be that there was a secular increase in vehicle usage that was already slowing before the recession and we can just see the effects of the recession, which is of course much deeper, better than before.

[taterguy]

29. What the hell is a "secular increase in vehicle usage"?

Seriously, I have no idea what you're talking about

[Zynx]

30. The long term growth trend in vehicle usage due to population growth and the spreading

out of the population from urban to suburban and exurban environments. All of those trends were slowing prior to the recession anyway.

[taterguy]

31. What the hell does that have to do with secularism?

Must be a new use of that term.

[Zynx]

33. No. Not a new definition.

http://www.merriam-webster.com/dictionary/secular

The third definition.

[Zynx]

17. No thanks. I don't trust a market that can move by that much on little to no news

and is clearly being driven more by speculators than economic fundamentals. If I was willing to make a bet, I would go short the futures rather than make a proposition bet with someone on the internet.

If you want to know my position on oil, it is that oil will be lower than it is today by the end of August, probably below $50.

[kimmerspixelated]

12. Of course, it's lower, my road trip is over!

[Lugnut]

14. I filled up this afternoon.

The price for regular dropped to $2.499 from $2.539 yesterday. Taxsylvania has the higest gas taxes in the nation.

[orleans]

15. chicago burbs lowest i've seen is $2.77 now. n/t

[slampoet]

20. Still 2.69 in Rhode Island

[Politicalboi]

21. $2.89 in Ca

[lunatica]

22. On Monday I paid $3.03 for gas here in California

I saw gas prices of $3.05 today.

[Telly Savalas]

24. So are there any school board elections coming up the elusive "they" are trying to influence?

[madrchsod]

28. 2.49 in the heart of the rock river valley

[Catshrink]

32. Still $2.55 at our Costco

Arizona...

[Mrs. Overall]

34. $2.79 here in Western WA State today.

[Puzzler]

35. God you guys have cheap gas! We pay at least $4/gallon in Canada

(and we have more oil than you)

[taterguy]

36. We choose to subsidize automobile usage

Most of the variation in price is base on how heavily gas is taxed

[Puzzler]

38. Actually, I do know this... I was just making a point.

And the point is that most industrialized countries already pay much higher prices for gas (at the pumps) than the US, and function quite well at these high gas prices. In the US, people think the world is ending when their gas prices even rise to a fraction of what Canadians and Europeans pay.

[taterguy]

42. We didn't invent the automobile so that we'd have to settle for walking, biking and taking trains

American society is based on cars.

Maybe once upon a time using an automobile was optional but now they've become so ingrained in our life that we can't imagine life without them.

Maybe high gas prices aren't the end of the world but they sure make life inconvenient. It would be like playing hockey without sticks; or something like that.

[Puzzler]

44. You didn't invent the automobile, the Germans did...

... "Karl Benz (1844-1929)- Germany. Granted 1st patent. DRP No. 37435. First true automobile. Gasoline automobile powered by an internal combustion engine: three wheeled, Four cycle, engine and chassis form a single unit."

[PVnRT]

49. If we had Europe's train system, we could deal with higher gas prices

But, we don't, so there you are.

[taterguy]

54. We don't have Europe's train system because we choose to spread out

Americans don't want to live on top of each other.

That's why we left Europe in the first place.

It worked just fine when oil was cheap and plentiful.

Now, not so much.

[DainBramaged]

40. And more beer, hey............

:hi:

[Thegonagle]

37. $2.29 in the Twin Cities area of MN.

Lowest prices are in the northern NE Minneapolis area and the suburbs adjacent to NE Minneapolis (Columbia Heights, St. Anthony, and Fridley).

EDIT: And I spoke too soon. A few stations are being reported on the twincitiesgasprices.com today at 2.28, 2.27, and one at 2.25, all in the northern suburbs.

[Liberal_in_LA]

41. Still just under $3 in Los Angeles

[RebelOne]

43. In my area of north Georgia, the cheapest I saw

was $2.39 this morning. Hope it continues to drop as I don't need gas right now.

[Ganja Ninja]

45. I topped up today at $2.49 a gallon in Tampa.

It's been falling about 2 cents a day for last 10 days.

[kentuck]

46. I read something a couple of days ago...

that legislation was being proposed to crack down on the energy traders that are driving up the prices of oil on the market, simply for their own enrichment. They may have gotten the word?

[DainBramaged]

51. They can't steal from the Bushies so they are manipulating the commodities markets

[mtnester]

47. Mid Ohio is still $2.50

[Mari333]

48. I ate guacamole and black beans last night so

its on the rise here

actually, its 2.55 yesterday in MI.

[DainBramaged]

50. Baked beans, rice, cauliflower, and pork loin here

Very high gas rate here today..............:rofl:

[guitar man]

52. 2.09

Oklahoma City

[Broken_Hero]

53. 2.24 in SW Missouri, down about a quarter plus

from last week.