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***OFFICIAL*** Gas Price Thread

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

So wait 6 weeks!
 
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.
 
If gas starts selling for $2/gal I know certain auto manufacturers that'll be shit'n bricks.

Only a 32% chance it'll drop that far.
 
Originally posted by: FeuerFrei
If gas starts selling for $2/gal I know certain auto manufacturers that'll be shit'n bricks.

Only a 32% chance it'll drop that far.
Click to expand...

Chrysler is jumping for joy right now over their locked-in gas price plan. They only paid if it was over $2.99.
 
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.
 
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.
Click to expand...

i thought it was a couple pennies per gallon.
so they're padding their profits by not dropping the price appropriately?
 
down to 2.99 in Long Island. Last time i saw $3.00 was back in February and then it started to jump. I doubt we will see $2 or close to it here in New York, maybe in New Jersey.
 
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.
Click to expand...

That's illegal in my state. Price fixing.
 
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!
Click to expand...

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.

 
$2.59 here in Central NJ.

I could live long term with $2.50 a gallon, don't think $2.00 will be seen again.

 
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.
Click to expand...

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

Anyway it's around $3.15 here.
 
Originally posted by: mcmilljb
Originally posted by: FeuerFrei
If gas starts selling for $2/gal I know certain auto manufacturers that'll be shit'n bricks.

Only a 32% chance it'll drop that far.
Click to expand...

Chrysler is jumping for joy right now over their locked-in gas price plan. They only paid if it was over $2.99.
Click to expand...
True. I'd forgotten about that incentive they ran. Wonder how many signed up for that. 0% financing was the better promo.
 
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 '
 
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.
Click to expand...

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

Anyway it's around $3.15 here.
Click to expand...

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.
 
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.
Click to expand...

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

Why would they? We're used to paying $4 now, so $2.70 is still a "bargain".
 
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.
Click to expand...

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

Anyway it's around $3.15 here.
Click to expand...

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.
Click to expand...
yep, those humongous towers don't pay for themselves!
 
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