Fill 'er up: Gasoline prices are set to tank

[NAC4EV]

Low gasoline prices are about to get a lot lower as U.S. refiners are creating a fuel glut from the global oversupply of oil.

The average national retail price for unleaded regular fell below $2 a gallon this week, a seven-year low. Also, new government data showing the biggest buildup in supply since 1993 sent prices in the wholesale and futures market sharply lower. That translates to cheaper prices at the pump in a matter of days.
Retail gasoline prices could drop to "somewhere between $1.75 and $1.95" before they bottom in the next 40 days, said Tom Kloza, Oil Price Information Service's top energy analyst. According to AAA, unleaded gasoline was selling at a national average of $1.99 Wednesday.

http://www.msn.com/en-us/money/mark...-set-to-tank/ar-AAgr2GC?li=BBnbfcL&ocid=edgsp

 

[Mayne]

i say get a bicycle

 

[OverVolt]

Yup still never buying a gas guzzler, because in 3-5 years gas will assuredly go back to normal. 36-40mpg here.

 

[Humpy]

Thanks Obama!

And fuck you to the next president who ruins it for us.

 

[brianmanahan]

Yup still never buying a gas guzzler, because in 3-5 years gas will assuredly go back to normal. 36-40mpg here.

my fit's still averaging 37 MPG, aww yeah

 

[zerocool84]

Yup still never buying a gas guzzler, because in 3-5 years gas will assuredly go back to normal. 36-40mpg here.

Yup that's why I just bought a Honda Accord instead of a fun performance car. I already dealt with a quick car with shitty gas mileage. It's only ever going to go up in the end.

 

[BoomerD]

My fucking motorhome gets...6.5 to 8.5 mpg...I hope these prices continue for a LONG time...




(but I KNOW they won't last long. Gas at Costco was $1.99 just before Christmas...then jumped to $2.29 for a while...now back to $2.17.)

 

[Carson Dyle]

i spend more on car insurance yearly than I do on gas.

 

[WaTaGuMp]

Set to tank after the .40 increase here in Socal?

 

[brainhulk]

it's panic mode for the oil industry/opec. they are trying to kill off electric and alternative fuel with low gas prices

if they are successful, it will go back up

 

[Red Squirrel]

I noticed it was pretty cheap when I filled up the other day. As nice as it is I know it's always short lived so don't celebrate too hard.

Does make you wonder just how many trillions the execs are making when the prices are high though. Gas prices are nothing but a big global cartel. Some execs get together and call the price and that's that. It's not like the oil rig workers are getting paid more when the prices are high.

 

[FelixDeCat]

Thanks Obama!

Presidents don't have jack chip affect on oil, the market does. Anything they do is usually just political and temporary....UNLESS...they move to raise or lower taxes on a gallon of gas...

I currently support keeping gas at $2 per gallon (raising taxes) to encourage efficiency and continued move to renewable sources of energy.

Fossil fuels must be put out to pasture.

 

[alcoholbob]

Set to tank after the .40 increase here in Socal?

You have to specially refine gas for the California market due to state regulations. That's why people are still paying nearly $4 a gallon in some places in CA, despite a national average below $2. Basically the national or global outlook for oil is irrelevant if you live in California because it has to deal with it's own unique supply and demand curve, as there are a finite number of refiners that have oil that's legal to sell in California.

 

[WaTaGuMp]

You have to specially refine gas for the California market due to state regulations. That's why people are still paying nearly $4 a gallon in some places in CA, despite a national average below $2. Basically the national or global outlook for oil is irrelevant if you live in California because it has to deal with it's own unique supply and demand curve, as there are a finite number of refiners that have oil that's legal to sell in California.

Last Jan in Palm Springs at Costco, I paid $1.99, that same station is now $2.75, so there is nothing but fucking greed and bullshit going on, no matter what anyone says.

 

[dmcowen674]

Remember this Bullshit when in 4 months gas is super high again and the oil thugs claim there is no oil yet again.

 

[JSt0rm]

You have to specially refine gas for the California market due to state regulations. That's why people are still paying nearly $4 a gallon in some places in CA, despite a national average below $2. Basically the national or global outlook for oil is irrelevant if you live in California because it has to deal with it's own unique supply and demand curve, as there are a finite number of refiners that have oil that's legal to sell in California.

We need that special gas to keep our air cleaner. Too many cars here. It's not that bad of a difference. I think I'm paying like 3.30 for premium.

 

[Captante]

Paid $1.87 the other day ... lowest I've seen in CT for a loooooong time!

 

[RelaxTheMind]

Just filled my tank from low fuel light for under $27 (15 gallon tank i think). Dont remember how much it was because I never look at gas prices.

 

[adairusmc]

Makes for cheap fill-ups for the snowmobiles, so I can burn as much of it as possible in the backcountry, ripping up the mountains.

 

[JEDIYoda]

my fit's still averaging 37 MPG, aww yeah

You meant to say -- Your parents fit...

 

[BarkingGhostar]

my fit's still averaging 37 MPG, aww yeah

My 335 does that even when half the time I'm being very aggressive. I love turbos.

 

[brainhulk]

My 335 does that even when half the time I'm being very aggressive. I love turbos.

Bullshit! :thumbsdown:

 

[michal1980]

Last Jan in Palm Springs at Costco, I paid $1.99, that same station is now $2.75, so there is nothing but fucking greed and bullshit going on, no matter what anyone says.

blame your law makers not the gas companies, its cheaper everywhere else.

 

[StrangerGuy]

The oil industry forgot that demand ain't going up because end consumers never see most of the cost savings from crude price cuts anyway, energy efficiency is still going to increase and long term consumer habits won't change just because of crude prices.

 

[Bubblehappy]

I hope the low gas prices continue, it gives me more money to spend on the things I'd rather spend money on. With fuel perks, I filled up for 83 cents a gallon a couple of weeks ago!