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Gas prices are going down - 6/9/2012 7:17:59 AM

fluffypet67

Posts: 4421
Joined: 3/8/2012
From: Moorestown, NJ
Status: offline

Hey! Guess what? Gas prices are going down. i filled up yesterday for $3.25 9/10ths per gallon in New Jersey. That's down from $3.70 9/10ths a couple of weeks ago.

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RE: Gas prices are going down - 6/9/2012 7:23:42 AM

Musicmystery

Posts: 30259
Joined: 3/14/2005
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Yup. Dropped from over $4 here to $3.75.

(in reply to fluffypet67)

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RE: Gas prices are going down - 6/9/2012 7:26:36 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
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There actually is a glut of this shit, monetarily; it is our largest export.

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RE: Gas prices are going down - 6/9/2012 8:34:56 AM

DarkSteven

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Joined: 5/2/2008
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That's weird. The usual pattern is that gas prices rise in the summer, heating oil prices rise in the winter.

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"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

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RE: Gas prices are going down - 6/9/2012 8:37:36 AM

Musicmystery

Posts: 30259
Joined: 3/14/2005
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Steven, what has changed is that we've become a net exporter in the past two years.

People are also saving more, perhaps? I'm not gonna take time to look it up.

< Message edited by Musicmystery -- 6/9/2012 8:39:08 AM >

(in reply to DarkSteven)

Post #: 5

RE: Gas prices are going down - 6/9/2012 8:48:00 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
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That's that fuckin Obama and his drill baby drill.

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Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: Gas prices are going down - 6/9/2012 9:01:24 AM

jlf1961

Posts: 14840
Joined: 6/10/2008
From: Somewhere Texas
Status: offline

Here in Texas MOST gas stations are at 3.279 the exceptions being those gas stations along the interstates which are still up around 3.359

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RE: Gas prices are going down - 6/9/2012 9:13:49 AM

kalikshama

Posts: 14805
Joined: 8/8/2010
Status: offline

I paid $2.98 per gallon with my Stop & Shop gas rewards discount

http://www.stopandshop.com/savings/shell_program.htm

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Post #: 8

RE: Gas prices are going down - 6/9/2012 10:28:40 AM

subrob1967

Posts: 4591
Joined: 9/13/2004
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The fact that it is falling is good news, the reason is not...

quote:

Niemann: Well a couple of things. First of all, Europe's back in recession. We've had very weak growth, very high unemployment worldwide. The biggest problem is we really have high inventory as well. We have more than we need. We have refinery problems, pipeline problems all being worked out. So we have new supplies still coming in. We have plenty of inventory.

Hobson: So things are getting worse in some places like Europe, as you say. Does that mean that these gas prices that are falling are really not so great news?

Niemann: It is implying that we have a very weak economy, but my argument is we really never have been out of recession. There just is simply no growth coming in out of there. So when you've got a situation where you have high gasoline prices, people are still cutting back. High prices hurt the families and my husband's high school teacher says kids are still carpooling and that's a shocker.

Hobson: Do you expect prices are going to go up, though, as we get into the summer driving season, as they usually do?

Niemann: Here's the pattern. June of 2010 it was $70 a barrel. We went up to $115 in 2011. Then down to $77 in October. Up to $110 this year. We're going back down. And I think we're probably going to see it in the $70s again.

http://www.marketplace.org/topics/economy/why-are-gas-prices-falling

quote:

If Americans spend less filing their tanks, they'll have more money for discretionary purchases. The downside? Lower oil and gas prices are symptoms of weakening economic conditions in the U.S. and around the globe.

On Friday, oil plunged nearly 4% as a bleak report on U.S. job growth heightened worries about a slowing global economy and waning oil demand. Sobering economic news from China and Europe also contributed to the drop.

http://www.usatoday.com/money/industries/energy/story/2012-06-01/oil-prices-fall-again-gasoline-price-impact/55332606/1

I believe this guy said it best...

Attachment (1)

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RE: Gas prices are going down - 6/9/2012 11:24:46 AM

DarkSteven

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Lemme sum up rob's views:

The demand for oil has dropped because Europe's in the toilet and in no position to buy much, as well as China. The producers hadn't counted on that and we now have a glut, hence the drop.

I'm not sure I'm buying that. Prices skyrocketed to $4 a gallon on 2008, and then dropped like a rock. At the time, speculators were blamed, not supply and demand.

_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to subrob1967)

Post #: 10

RE: Gas prices are going down - 6/9/2012 11:37:33 AM

Real0ne

Posts: 21189
Joined: 10/25/2004
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quote:

ORIGINAL: fluffypet67

Hey! Guess what? Gas prices are going down. i filled up yesterday for $3.25 9/10ths per gallon in New Jersey. That's down from $3.70 9/10ths a couple of weeks ago.

using that wacked out logic they go down a few times every month.

why not talk about reality?

1960's:
Car: $2,200
Gasoline: 30 cents/gal
House: $18,500
Bread: 20 cents/loaf
Milk: $1.01/gal
Postage Stamp: 4 cents

and that does not include price wars where it dropped as low as 19 cents per gallon and you could fill a full sized car for 4 dollars!

minor market fluctuation is NOT going down.

< Message edited by Real0ne -- 6/9/2012 11:40:26 AM >

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"We the Borg" of the us imperialists....resistance is futile

Democracy; The 'People' voted on 'which' amendment?

Yesterdays tinfoil is today's reality!

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(in reply to fluffypet67)

Post #: 11

RE: Gas prices are going down - 6/9/2012 11:44:29 AM

Anaxagoras

Posts: 3086
Joined: 5/9/2009
From: Eire
Status: offline

Yeh, and a castle could be built for 10 English pounds in 1500. Fie sir, the Gubbermint!

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Post #: 12

RE: Gas prices are going down - 6/9/2012 12:04:36 PM

lovmuffin

Posts: 3759
Joined: 9/28/2007
Status: offline

quote:

ORIGINAL: Real0ne

quote:

ORIGINAL: fluffypet67

Hey! Guess what? Gas prices are going down. i filled up yesterday for $3.25 9/10ths per gallon in New Jersey. That's down from $3.70 9/10ths a couple of weeks ago.

using that wacked out logic they go down a few times every month.

why not talk about reality?

1960's:
Car: $2,200
Gasoline: 30 cents/gal
House: $18,500
Bread: 20 cents/loaf
Milk: $1.01/gal
Postage Stamp: 4 cents

and that does not include price wars where it dropped as low as 19 cents per gallon and you could fill a full sized car for 4 dollars!

minor market fluctuation is NOT going down.

I get your point. It's the most aggressive tax of all, inflation.

_____________________________

"Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world." Unknown

"Long hair, short hair—what's the difference once the head's blowed off." - Farmer Yassir

(in reply to Real0ne)

Post #: 13

RE: Gas prices are going down - 6/9/2012 12:36:52 PM

subrob1967

Posts: 4591
Joined: 9/13/2004
Status: offline

quote:

ORIGINAL: DarkSteven

Lemme sum up rob's views:

The demand for oil has dropped because Europe's in the toilet and in no position to buy much, as well as China. The producers hadn't counted on that and we now have a glut, hence the drop.

I'm not sure I'm buying that. Prices skyrocketed to $4 a gallon on 2008, and then dropped like a rock. At the time, speculators were blamed, not supply and demand.

Does your speculator theory take into account the rising cost of basic needs? I don't know about Colorado, but here in Indiana food costs have gone up quite a bit, and we're getting less product for more dollars.

Inflation is a bitch.

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Post #: 14

RE: Gas prices are going down - 6/9/2012 12:43:00 PM

MasterG2kTR

Posts: 6677
Joined: 8/7/2004
From: Wisconsin
Status: offline

quote:

ORIGINAL: DarkSteven

Lemme sum up rob's views:

The demand for oil has dropped because Europe's in the toilet and in no position to buy much, as well as China. The producers hadn't counted on that and we now have a glut, hence the drop.

I'm not sure I'm buying that. Prices skyrocketed to $4 a gallon on 2008, and then dropped like a rock. At the time, speculators were blamed, not supply and demand.

I actually just finished a research paper for my economics class on the prices of gasoline with a particular focus on 2008. There were several key factors involved at that time none of which involved speculators (ok, to a small degree they were involved).

A couple years earlier the US and Europe agreed to move to a low sulfur emission diesel known as ULSD. The target inception dates were 2005 and 2009 respectively. The US incurred very little change in demand for gas and diesel. However Europe urged consumers to purchase diesel powered vehicles prior to the inception.

You're wondering what diesel has to do with the price of gasoline, right? Diesel fuel is produced from heavy sour crude. So how did this affect the price of light sweet crude? The impact comes from the production capacity of refineries; add to that economic policies in Europe that encouraged consumers to purchase diesel-powered vehicles rather than gasoline-fueled cars. The newly created demand for ULSD caused a reduction in production of gasoline, thereby causing a sustained increase in price.

While this was taking place China was building the Olympic Village for the 2008 games and also ramping up it's industrial muscle. China had also implemented price controls which made it unprofitable for small refiners there (referred to as teapots) to operate and caused them to shut down. This meant that China had to import higher-quality diesel supplies from the international market. This squeezed diesel supply even more.

The end of the 2008 Olympics added further downward pressure to diesel prices. China had accumulated stocks to assure adequate supplies. These stocks were released, reducing demand. Use in Europe also started to decline as the recession took hold there.
The sudden reversal of market trends took pressure off of the diesel market putting relief on refineries to produce more gasoline again, but by this time the U.S. economy was already well into it’s decline and the world economy was beginning to slump as well. As a direct result of these factors supply was ample and demand for fuel in general was down. This put prices for fuel into rapid decline.

(in reply to DarkSteven)

Post #: 15

RE: Gas prices are going down - 6/9/2012 1:00:09 PM

joether

Posts: 5195
Joined: 7/24/2005
Status: offline

So, for months we heard conservatives bitch at the White House for high gas prices. Logical and reason would dictate those same conservatives would be contacting the White House to thank the good folks in our federal goverment for the reduction of gas prices. That the White House heard the plight that conservatives were in, and actually did something about it (cus they know how something like high gas prices effect the little guy). Oh forgot, I'm talking about conservatives. Folks that NEVER use logical and reason when talking politics....

Good Job, Mr. President!

(in reply to subrob1967)

Post #: 16

RE: Gas prices are going down - 6/9/2012 1:24:53 PM

Real0ne

Posts: 21189
Joined: 10/25/2004
Status: offline

quote:

ORIGINAL: lovmuffin

quote:

ORIGINAL: Real0ne

quote:

ORIGINAL: fluffypet67

Hey! Guess what? Gas prices are going down. i filled up yesterday for $3.25 9/10ths per gallon in New Jersey. That's down from $3.70 9/10ths a couple of weeks ago.

using that wacked out logic they go down a few times every month.

why not talk about reality?

1960's:
Car: $2,200
Gasoline: 30 cents/gal
House: $18,500
Bread: 20 cents/loaf
Milk: $1.01/gal
Postage Stamp: 4 cents

and that does not include price wars where it dropped as low as 19 cents per gallon and you could fill a full sized car for 4 dollars!

minor market fluctuation is NOT going down.

I get your point. It's the most aggressive tax of all, inflation.

and worse it is controlled by the banks in conjunction with their asshole babies at the treasury.

Dubya appointed paulson sec of the treas so paulson would not have to pay taxes on 55 million bucks.

It is part and party to why I lovingly labelled it the gubafia!

If you are not the OID you cannot write off inflation on your taxes! Your saving and all investments get eaten up and you have thats right!!!!! TAXATION WITHOUT REPRESENTATION!

Worse you can look ar article 8 in the articles of confederation forward, and all the states joined the union on the same footing as the original 13, gawd help this country when people digest the real meaning of that, and

the legislatures ALONE and forward through today ALONE ultimately control taxation NOT THE PEOPLE as in you and I.

Again taxation without representation.

If there is no referendum on any matter you are not represented.

It is the same as hiring an attorney who does not know what you want him to do for you. It is impossible for any so called "representative" to act upon the will of the people if they do not know what thet is, and the only way to prove the will of the people is by referendum.

Speaking of, I cant seem to locate the referendum of any of the states that the "INHABITANTS" agreed to create and abide by and live UNDER any state constitution.

_____________________________

"We the Borg" of the us imperialists....resistance is futile

Democracy; The 'People' voted on 'which' amendment?

Yesterdays tinfoil is today's reality!

"No man's life, liberty, or property is safe while the legislature is in session

(in reply to lovmuffin)

Post #: 17

RE: Gas prices are going down - 6/9/2012 1:37:23 PM

DarkSteven

Posts: 28072
Joined: 5/2/2008
Status: offline

quote:

ORIGINAL: subrob1967

quote:

ORIGINAL: DarkSteven

Lemme sum up rob's views:

The demand for oil has dropped because Europe's in the toilet and in no position to buy much, as well as China. The producers hadn't counted on that and we now have a glut, hence the drop.

I'm not sure I'm buying that. Prices skyrocketed to $4 a gallon on 2008, and then dropped like a rock. At the time, speculators were blamed, not supply and demand.

Does your speculator theory take into account the rising cost of basic needs? I don't know about Colorado, but here in Indiana food costs have gone up quite a bit, and we're getting less product for more dollars.

Inflation is a bitch.

So you're invoking supply and demand again.

Note that MasterG2kTR's post also makes a strong case for supply and demand being the driver of gas prices, and not speculation.

Between the two of you... sounds good. I can concede supply and demand being the driver.

_____________________________

"You women....

The small-breasted ones want larger breasts. The large-breasted ones want smaller ones. The straight-haired ones curl their hair, and the curly-haired ones straighten theirs...

Quit fretting. We men love you."

(in reply to subrob1967)

Post #: 18

RE: Gas prices are going down - 6/9/2012 2:23:21 PM

Musicmystery

Posts: 30259
Joined: 3/14/2005
Status: offline

Food prices and petroleum are tightly linked, and have been since the 1970s, with petroleum based fertilizers, large production farms, etc. And when petroleum is high, shipping pushes up produce prices. The last Bush gas spike tripled the price of fresh produce; that's when I started my gardens and orchard.

More recently, a global food shortage has been affecting petroleum as well. With a flat stock market, more money has flooded commodities markets in search of better returns, driving up food futures and petroleum alike.

(in reply to DarkSteven)

Post #: 19

RE: Gas prices are going down - 6/9/2012 3:42:19 PM

LookieNoNookie

Posts: 12216
Joined: 8/9/2008
Status: offline

quote:

ORIGINAL: fluffypet67

Hey! Guess what? Gas prices are going down. i filled up yesterday for $3.25 9/10ths per gallon in New Jersey. That's down from $3.70 9/10ths a couple of weeks ago.

Lucky you !

I paid $4.47 today in Seattle.

:(

(in reply to fluffypet67)

Post #: 20

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