Can you believe it? Not only did Tropical Storm Fay have no impact on gas prices or refineries in the Gulf (at least not yet - stay tuned), today was the 34th consecutive day that gas prices fell.
Also today, oil companies began bidding for offshore drilling rights.
Wow, what a wild ride we're on. We may not be able to use high gas prices as an excuse much longer.
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Its a good thing. Gas under $3.50 ar some stations in my area yesterday.
Steve - Woo! Hoo! That's great news! Our lowest price is $3.36 around here. What's yours?
I filled up at $3.33 in Upstate SC this morning. Isn't it amazing that I'm pleased by that price?
Chuck,
That's a good thing. That's quite a bit less than it is around here, but our prices increase very rapidly and decline very slowly.
Steve
Debi,
I haven't looked in a couple of days, but it was $3.69 at Walmart on Sunday (after I filled up at Costco for $3.74). :)
Steve
Dreamfinders,
That is really good news - 3 gallons for $10.00! That's almost a dollar less than it was here just a few weeks ago.
Steve
I don't think they will come down much more. People think they are cheap and they start drivng more.
John,
I really don't know. There's some talk that they could get down to $2 again. Oil is moving down toward $80. Many people have already changed their driving habits and won't likely return to what they were - in case prices go back up.
Steve
I just hope we do not sit back and pretend the world is perfectly fine again
Anne
Anne,
I think gas prices should be as low as possible but you're right, that can create complacency again.
Steve
Steve, it is definitely not a quid pro quo equivalent. Gas prices in the commodities market have fallen almost 25%, which would equal about a 1.00 per gallon equivalent.....I have not seen that at the pumps. It appears that the @*(&^$$%@^& oil companies are still cleaning up! I think they know they are on a course of extinction and are doing everything they can to profit before they are gone.
I support capitalism, but there is always a point where it is simply not fair. This is one of those instances. Frankly, I think it is ridiculous.
Bo
I just paid $3.30 a gallon here in NJ. I'm anxious to see if Chevy actually gets their new car to work as they claim. Drive 40 miles before using a drop of gas. It will be interesting to see what type of premium you have to pay for the car to save money on gas.
Bo,
I'm not sure what the issue is here. One of the culprits is the speculator. I don't understand why oil is a commodity. Years ago the speculators were in real estate (the S & Ls), then more recently they were in tech stocks, then they went back to real estate, then they went to oil. What's next?
Steve
Karl,
I suspect that with the initial cost it will take years to show any savings.
Steve
We have a lot of 3.40's around here and I wouldnt doubt a 3.30's number in a bit... But it is crazy that we are happy with it... This spring we were still significantly lower and a year ago prices were about a full dollar lower/ gallon, And Diesel prices are still crazy... Cost me $88 to fill my car last night.
Robert,
I don't think "happy" is the word to use to describe this adjusted sense of normalcy - maybe "numb" or "resigned."
Steve
I really hope they continue to come down. I am sure that with prices declining that people will get out a little more but a lot of people have traded in their large SUV's for smaller cars, so maybe we won't see a huge increase of usage. It seems that when we talk about our own off shore drilling, prices seem to drop...
Teresa,
It sure would make agents feel more comfortable about showing properties if the gas continues to drop - and that could lead to more sales. :)
Steve
I passed a gas station this morning that was $3.17 a gallon!!!! Could we see gas under $3.00? Let's hope so.
Karl,
I think that is being talked about in economic circles. Around here, however, gas is still in the $3.60s range.
Steve