***OFFICIAL*** Gas Price Thread

[JohnCU]

Originally posted by: Capt Caveman
Dave McOwen says after the election, 'Next Stop $200' and 'Drive to $10/gal'.

And from his sig - 'Dave McOwen - The most educated American on the internet '

we still haven't driven for 5 yet.

 

[sixone]

If people keep buying gas as though it still cost $4.50 per gallon, the prices will slowly keep falling. Stations would rather make a little profit on something, than a big profit on nothing.

But if people buy gas like it's cheap, the price won't go down.

 

[Random Variable]

Sub $2 gas will probably only been seen in parts of Oklahoma and Kansas.

 

[jpeyton]

Nope. The oil companies gotta make that paper.

 

[V00DOO]

It's good time to buy a HUMMER!

 

[Eeezee]

Originally posted by: spidey07

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

That's illegal in my state. Price fixing.

It's only illegal if you're prosecuted

 

[ConstipatedVigilante]

Originally posted by: Squisher

Originally posted by: radioouman
(words from oil companies) "It takes 6 weeks for gas prices to reflect the current trading cost of oil."

So wait 6 weeks!

So, it takes 6 weeks to come down, but minutes for it to rise. I wonder how much money is made over the years just from the fluctuation. In fact, doesn't this give some credence to the notion that it is in the oil company's best interest to see a fluctuation. Yet, I would think it would be in the best interest of the rest of us if we knew where gas prices were going to be so as to make prudent vehicle choices and for the automakers to tool up for their customer's desires.

Um, you're forgetting that the oil has to be refined before it's gas. That takes a little while. And the gas stations aren't going to lose money on the expensive gas they already bought.

 

[Capt Caveman]

Originally posted by: BlahBlahYouToo

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

i thought it was a couple pennies per gallon.
so they're padding their profits by not dropping the price appropriately?

Well, based on the fact that when gas was over $4, many were losing money and a number of gas stations went out of business, I guess they're trying to make-up for those losses.

 

[destrekor]

Originally posted by: ObiDon

Originally posted by: TechBoyJK

Originally posted by: Gooberlx2

Originally posted by: ggnl
OPEC is already starting to panic. They were willing to let the price of oil drop because they didn't want to exacerbate the credit crisis, but only up to a certain point. They'll probably cut production soon.

Didn't the Saudis already tell the rest of OPEC to go fuck themselves concerning dropping production?

Anyway it's around $3.15 here.

Thats what I heard. Saudis are seeing the drive for alternate fuels and they are looking past the short term gains of high prices now for the fact that demand could permanently drop due to alternate fuels and people adapting to high prices by not driving as much. They need to sell their oil stock and high prices aren't getting it sold as quick.

yep, those humongous towers don't pay for themselves!

Saudi Arabia... United Arab Emirates... I'm not seeing anything related, you?
The city of Dubai is in the Dubai emirate, which is part of the UAE. And Dubai doesn't export much gasoline, less than 10% of their GDP is oil iirc.

Saudi Arabia did in fact storm out of an OPEC meeting due to the desire to maintain, and possibly even lower oil production to basically maintain the high cost. Which the Saudis basically said - frack off, that plan will only hurt us more in the long run and force the consumers of our oil to move to alternative energy faster than anticipated.

Since the Saudi's export a lot of oil, no doubt their increasing production will/has likely help[ed]. Now, wonder if the other OPEC countries followed suit or are sticking to their game.

 

[RU482]

Originally posted by: V00DOO
It's good time to buy a HUMMER!

what's getting a hummer have to do with the price of gas??



Oh...that kind of hummer

 

[insect9]

I just paid $2.39 a half hour ago.

 

[Delita]

Originally posted by: jpeyton
Nope. The oil companies gotta make that paper.

So they have only been making profits since 2003?

 

[jpeyton]

Originally posted by: Delita

Originally posted by: jpeyton
Nope. The oil companies gotta make that paper.

So they have only been making profits since 2003?

They can't go back to small-time profits. $10 billion a quarter, nothing less.

 

[Wreckem]

Originally posted by: TechBoyJK

Originally posted by: Gooberlx2

Originally posted by: ggnl
OPEC is already starting to panic. They were willing to let the price of oil drop because they didn't want to exacerbate the credit crisis, but only up to a certain point. They'll probably cut production soon.

Didn't the Saudis already tell the rest of OPEC to go fuck themselves concerning dropping production?

Anyway it's around $3.15 here.

Thats what I heard. Saudis are seeing the drive for alternate fuels and they are looking past the short term gains of high prices now for the fact that demand could permanently drop due to alternate fuels and people adapting to high prices by not driving as much. They need to sell their oil stock and high prices aren't getting it sold as quick.

If OPEC was smart, they would have pulled their heads out of their asses and increased production while the prices were sky high. They would have made more money in the long run.

Global economic recession + alternative energy emergeing over the next 5-10 years = price of oil will never get as high as it did($160+ per barrell).

 

[roid450]

3.28 here in so Cal. low enough to where im back at being LEAD FOOT on my f150

 

[ConstipatedVigilante]

Originally posted by: roid450
3.28 here in so Cal. low enough to where im back at being LEAD FOOT on my f150

I can't wait to floor my Impala when I get back home...the engine sounds like a thousand banshees screaming under the hood at 80 mph...oooooh I want to drive!

 

[Capt Caveman]

Where are all of those people stating that gas would never go under $4?

 

[Freshgeardude]

Originally posted by: spidey07

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

That's illegal in my state. Price fixing.

sorry dude, but its pretty obvious every station does it. barrel goes down a couple bucks a 3 day period(possibly, throwing out a time period), gas stations dont change for a week

 

[MotF Bane]

Nice, I can go hunting for a GTO.

 

[ObiDon]

Originally posted by: freshgeardude

Originally posted by: spidey07

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

That's illegal in my state. Price fixing.

sorry dude, but its pretty obvious every station does it. barrel goes down a couple bucks a 3 day period(possibly, throwing out a time period), gas stations dont change for a week

prices where i live (near portland, oregon) have been dropping at least twice every three days for several weeks

 

[tasmanian]

Originally posted by: ObiDon

Originally posted by: freshgeardude

Originally posted by: spidey07

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

That's illegal in my state. Price fixing.

sorry dude, but its pretty obvious every station does it. barrel goes down a couple bucks a 3 day period(possibly, throwing out a time period), gas stations dont change for a week

prices where i live (near portland, oregon) have been dropping at least twice every three days for several weeks

Yep they just broke under $3 in vancouver.

 

[spidey07]

Originally posted by: freshgeardude

Originally posted by: spidey07

Originally posted by: aphex
my friend owns a gas station and is loving the $0.70/gal profits he's making right now. He won't lower the price too much until the other stations do. It will trickle down somewhat, but will likely never make it back to $2/gal, ever.

That's illegal in my state. Price fixing.

sorry dude, but its pretty obvious every station does it. barrel goes down a couple bucks a 3 day period(possibly, throwing out a time period), gas stations dont change for a week

I know. But our attorney general is coming down hard on any purposeful price fixing which is what aphex described. There isn't any collusion going on but it's still price fixing.

Gas in 2.70 in KY metro areas, is it because of the AGs efforts? Sounds reasonable.

 

[BlahBlahYouToo]

Originally posted by: sixone
If people keep buying gas as though it still cost $4.50 per gallon, the prices will slowly keep falling. Stations would rather make a little profit on something, than a big profit on nothing.

But if people buy gas like it's cheap, the price won't go down.

and that's the problem. people are so short sighted that they will go out and buy the big SUV they were afraid to buy when gas was $4. sigh...

 

[AccruedExpenditure]

We will see sub 2 dollar a gallon gas. Guaranteed.

 

[Shadow Conception]

Originally posted by: roid450
3.28 here in so Cal. low enough to where im back at being LEAD FOOT on my f150

Wait, if people start doing this once more, aren't prices just going to increase again?