Gas prices should fall more this week

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GasBuddy News Article

Gas prices should fall more this week Monday, October 13, 2008
Gainsville.com -- After weeks of watching prices fall on Wall Street, Americans spent the weekend watching some prices fall closer to home. Gas stations nationwide and across North Florida have been steadily lowering prices at the pump. Gas prices could fall below $3 a gallon with a week, according to some analysts. The most obvious reason for falling gas prices is that inventories have recovered since September when Hurricanes Gustav and Ike shut down many refineries, according to Randy Bly, director of community relations for AAA Auto Club South. Bly said there was another major factor pushing prices down. "Dropping demand for fuel in the U.S. and other industrialized countries – largely due to a weakening economy as a result of the current domestic and global financial crisis – continues to drive the price of crude oil down with retail gasoline prices following," Bly said. "Last week's report from the U.S Department of Energy indicate larger than expected fuel inventories and the lowest dail
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JT Moderator	Message Posted: 10/13/2008 9:27:43 AM	Ignore JT Report Abuse
	Monday, October 13, 2008 Gainsville.com -- After weeks of watching prices fall on Wall Street, Americans spent the weekend watching some prices fall closer to home. Gas stations nationwide and across North Florida have been steadily lowering prices at the pump. Gas prices could fall below $3 a gallon with a week, according to some analysts. The most obvious reason for falling gas prices is that inventories have recovered since September when Hurricanes Gustav and Ike shut down many refineries, according to Randy Bly, director of community relations for AAA Auto Club South. Bly said there was another major factor pushing prices down. "Dropping demand for fuel in the U.S. and other industrialized countries – largely due to a weakening economy as a result of the current domestic and global financial crisis – continues to drive the price of crude oil down with retail gasoline prices following," Bly said. "Last week's report from the U.S Department of Energy indicate larger than expected fuel inventories and the lowest daily consumption of crude oil – 18.7 million barrels a day – since 1999. Motorists can expect retail gasoline prices to continue to drop at a rapid rate this week." Visit Gainsville.com for full article

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frede2 Champion Author Texas Posts:3,515 Points:766,385 Joined:May 2005	Message Posted: 10/14/2008 10:44:54 AM	Ignore frede2 Report Abuse
	And the oil companies will still make huge profits.
flatcoatfun All-Star Author Orlando Posts:651 Points:195,700 Joined:Nov 2007	Message Posted: 10/14/2008 9:54:24 AM	Ignore flatcoatfun Report Abuse
	Keep falling!
ramshot412 Champion Author Riverside Posts:11,938 Points:1,195,960 Joined:Apr 2004	Message Posted: 10/14/2008 9:54:05 AM	Ignore ramshot412 Report Abuse
	"Watch out after the election" Yep, all the gas prices will come tumbling down....
HawaiianGuy Champion Author Idaho Posts:1,374 Points:1,475,615 Joined:May 2003	Message Posted: 10/14/2008 9:53:34 AM	Ignore HawaiianGuy Report Abuse
	Although we are enjoying lower energy costs, let's not lose sight of the reasons behind them, namely, a slowing economy. THAT is not a good thing.
fairchildd All-Star Author Kansas City Posts:862 Points:362,990 Joined:Aug 2007	Message Posted: 10/14/2008 9:49:41 AM	Ignore fairchildd Report Abuse
	good deal
zmancbr Veteran Author Colorado Posts:267 Points:64,480 Joined:Jul 2008	Message Posted: 10/14/2008 9:48:43 AM	Ignore zmancbr Report Abuse
	I like the crashing sounds of falling gas prices...
wizzard3040 Veteran Author St. Louis Posts:390 Points:168,625 Joined:May 2008	Message Posted: 10/14/2008 9:45:50 AM	Ignore wizzard3040 Report Abuse
	$USD finally has some legs...strength! That will do wonders...Funds seeking some core strenght/safety.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 9:45:25 AM	Ignore chrth Report Abuse
	"Gas should be $2.45 a gallon right now - if all things were equal" If all things were equal: Summer '07 (roughly): Oil Prices: $75/barrel Gas Prices: $3.00/gallon Summer '08 Oil Prices: $145/barrel Gas Prices: $5.80/gallon
Dennis783 Champion Author Wisconsin Posts:5,603 Points:1,122,945 Joined:Sep 2005	Message Posted: 10/14/2008 9:44:52 AM	Ignore Dennis783 Report Abuse
	Watch out after the election
NissanGirl Veteran Author Oregon Posts:302 Points:166,740 Joined:Jan 2008	Message Posted: 10/14/2008 9:42:58 AM	Ignore NissanGirl Report Abuse
	We've got to keep conserving!! They are trying to lull us back into our old habits.
Egaser Veteran Author Atlanta Posts:409 Points:162,765 Joined:Apr 2006	Message Posted: 10/14/2008 9:42:34 AM	Ignore Egaser Report Abuse
	I`m playing the wait a see game.
rbrowdersr All-Star Author Detroit Posts:955 Points:467,975 Joined:Aug 2006	Message Posted: 10/14/2008 9:40:56 AM	Ignore rbrowdersr Report Abuse
	Hope it continues to the level it should be.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 9:40:01 AM	Ignore chrth Report Abuse
	Also remember that winter is approaching (although it's hard to tell in North Carolina today), so you'll see refinery conversion to heating oil. Gas supplies will be down so you could see prices hold steady while oil prices drop. OPEC is going to do their darnedest to keep oil at or above $60. Global demand may push it down to $40-45 (someone even said $20) regardless. You won't see 99 cent gas any time soon, but $2.25 isn't out of the question by the end of winter.
85XJ Champion Author Toledo Posts:4,035 Points:771,355 Joined:Mar 2005	Message Posted: 10/14/2008 9:39:17 AM	Ignore 85XJ Report Abuse
	Showing a rise here. What's up with that?
Kerdink Veteran Author Cincinnati Posts:309 Points:81,280 Joined:Jun 2008	Message Posted: 10/14/2008 9:39:15 AM	Ignore Kerdink Report Abuse
	NYMEX Crude Oil $81.56 10:38am
Kerdink Veteran Author Cincinnati Posts:309 Points:81,280 Joined:Jun 2008	Message Posted: 10/14/2008 9:38:00 AM	Ignore Kerdink Report Abuse
	Gas should be $2.45 a gallon right now - if all things were equal $4.09 = $147 barrel $2.25 = $80 barrel
w4kh Champion Author Riverside Posts:3,660 Points:640,945 Joined:May 2004	Message Posted: 10/14/2008 9:37:27 AM	Ignore w4kh Report Abuse
	Southern California is easing towards $3.00/gallon, with $3.27 here in the "Inland Empire" so far... I am still driving conservatively and enjoying 5 mpg MORE than the EPA said I could get... Even though I have a 40 mile commute (round-trip) I still only fill up about every 10 days... Now, if I had an electric, I'd be in business! Already have solar panels on the roof!
Gerund1 Champion Author Toronto Posts:1,147 Points:828,105 Joined:Apr 2003	Message Posted: 10/14/2008 9:36:27 AM	Ignore Gerund1 Report Abuse
	Sounds good but with the price of oil going up so much for the last couple of days, I doubt it.
chrth Rookie Author Greensboro Posts:8 Points:19,320 Joined:Oct 2008	Message Posted: 10/14/2008 9:35:59 AM	Ignore chrth Report Abuse
	"I'd love to see gas prices half what they were in July - especially since oil's barely half what it was in July..." Oil was also over twice the price this summer over last, while gas was only up around 50%. Be thankful gas prices are not 100% consistent with oil prices as it would've been far far worse this summer.
laddyboy62 Champion Author Riverside Posts:1,581 Points:994,335 Joined:Mar 2005	Message Posted: 10/14/2008 9:35:32 AM	Ignore laddyboy62 Report Abuse
	barrel almost = to last yr same day price..but gallon still 50 cents more?
Tanks_alot Veteran Author Rhode Island Posts:375 Points:51,935 Joined:Sep 2008	Message Posted: 10/14/2008 9:34:19 AM	Ignore Tanks_alot Report Abuse
	Lots of places under $3.00 here in the past few days.
spunky4443 Champion Author Washington Posts:1,156 Points:456,855 Joined:May 2005	Message Posted: 10/14/2008 9:33:18 AM	Ignore spunky4443 Report Abuse
	Diesel should be under $3.00 a Gallon.
patbob56 Champion Author Colorado Springs Posts:1,746 Points:360,675 Joined:Apr 2006	Message Posted: 10/14/2008 9:32:15 AM	Ignore patbob56 Report Abuse
	yes they should
wizzard1222 Veteran Author St. Louis Posts:392 Points:704,750 Joined:Mar 2006	Message Posted: 10/14/2008 9:31:34 AM	Ignore wizzard1222 Report Abuse
	What it's like to be a big Financial Bank= $10 BIILLION ! Here, take it...it's from your Uncle Sam!
cheeringmom Rookie Author Twin Cities Posts:85 Points:31,000 Joined:Apr 2008	Message Posted: 10/14/2008 9:30:56 AM	Ignore cheeringmom Report Abuse
	it is so nice to see it drop but how long will this last
hank1326 All-Star Author Los Angeles Posts:505 Points:126,730 Joined:Jun 2008	Message Posted: 10/14/2008 9:30:53 AM	Ignore hank1326 Report Abuse
	Keep on conserving and buy gas only at lower prices stations.
sandraK Champion Author Grand Rapids Posts:4,166 Points:318,565 Joined:Mar 2005	Message Posted: 10/14/2008 9:30:10 AM	Ignore sandraK Report Abuse
	I love good news!
kingpin6 All-Star Author Arkansas Posts:917 Points:229,800 Joined:Jul 2007	Message Posted: 10/14/2008 9:28:45 AM	Ignore kingpin6 Report Abuse
	Come on down! How low can you go?
SeerLV All-Star Author Las Vegas Posts:537 Points:132,015 Joined:Jun 2008	Message Posted: 10/14/2008 9:26:56 AM	Ignore SeerLV Report Abuse
	Keep dropping!
Sentraholic Champion Author Maryland Posts:2,150 Points:506,465 Joined:Nov 2006	Message Posted: 10/14/2008 9:26:30 AM	Ignore Sentraholic Report Abuse
	I'd love to see gas prices half what they were in July - especially since oil's barely half what it was in July...
checkum Champion Author St. Louis Posts:1,121 Points:215,845 Joined:Jan 2008	Message Posted: 10/14/2008 9:26:25 AM	Ignore checkum Report Abuse
	I gurrantee the prices will go way up sooner than later...Greed rules
esquared Champion Author Oklahoma City Posts:1,406 Points:630,950 Joined:Jan 2006	Message Posted: 10/14/2008 9:26:21 AM	Ignore esquared Report Abuse
	NPR reported a jump in light sweet crude on European markets today....
nyacoub1 All-Star Author Chicago Posts:815 Points:60,130 Joined:May 2007	Message Posted: 10/14/2008 9:26:03 AM	Ignore nyacoub1 Report Abuse
	lower, lower, lower.
steveski Veteran Author Maryland Posts:484 Points:124,925 Joined:May 2008	Message Posted: 10/14/2008 9:25:37 AM	Ignore steveski Report Abuse
	yeah, i'd love to see $1.50. that'd be pretty cool. if people had more $$ in their pockets by using less on gas, the economy would recover too.
no_monkey2002 All-Star Author Tallahassee Posts:854 Points:534,360 Joined:Mar 2006	Message Posted: 10/14/2008 9:23:58 AM	Ignore no_monkey2002 Report Abuse
	Fall the breaks are off....slide...tumble...down down all the way $1.50 a gallon by Christmas
Yonkers111 Champion Author Scranton Posts:3,004 Points:217,135 Joined:Apr 2007	Message Posted: 10/14/2008 9:22:32 AM	Ignore Yonkers111 Report Abuse
	But after the next drop, maybe not much more.
gaschicCT Sophomore Author Hartford Posts:228 Points:58,365 Joined:Apr 2008	Message Posted: 10/14/2008 9:22:31 AM	Ignore gaschicCT Report Abuse
	Since we all know ourselves, we KNOW that we will go back to our pre-conservation ways and and drive all we want .... That's what they are counting on.
suzyq2007 Sophomore Author Dallas Posts:179 Points:200,500 Joined:Oct 2007	Message Posted: 10/14/2008 9:22:23 AM	Ignore suzyq2007 Report Abuse
	some of the stations near my house finally dropped below $3.00. but this still is too high. we need more relief
amacquarrie Veteran Author Nevada Posts:333 Points:77,235 Joined:Jun 2008	Message Posted: 10/14/2008 9:20:43 AM	Ignore amacquarrie Report Abuse
	keep going down
eaglev All-Star Author Oklahoma City Posts:978 Points:332,145 Joined:Jul 2005	Message Posted: 10/14/2008 9:20:28 AM	Ignore eaglev Report Abuse
	Many of our stations have gone back up since a low last Thursday.
NavyEOD Champion Author Los Angeles Posts:1,961 Points:431,390 Joined:Jul 2007	Message Posted: 10/14/2008 9:20:03 AM	Ignore NavyEOD Report Abuse
	Keep falling.
tigeriz Veteran Author Maine Posts:302 Points:73,145 Joined:Aug 2008	Message Posted: 10/14/2008 9:19:35 AM	Ignore tigeriz Report Abuse
	It's great that it's falling. But will it stay that way. Hope for the best, prepare for the worst!
USAFA82 Champion Author Colorado Springs Posts:1,521 Points:259,545 Joined:Feb 2008	Message Posted: 10/14/2008 9:19:28 AM	Ignore USAFA82 Report Abuse
	Had one station crack $3 over the weekend.
tomok Champion Author Portland Posts:9,625 Points:719,110 Joined:Aug 2006	Message Posted: 10/14/2008 9:19:27 AM	Ignore tomok Report Abuse
	Gas prices should fall much lower to be reasonable again. MUCH LOWER! Fall, fall, fall....... Fuel prices are still way too high.....
AnObserver Champion Author New Jersey Posts:1,609 Points:859,315 Joined:Sep 2005	Message Posted: 10/14/2008 9:18:44 AM	Ignore AnObserver Report Abuse
	no resistance here
rockinrog All-Star Author Ontario Posts:843 Points:681,680 Joined:May 2006	Message Posted: 10/14/2008 9:18:00 AM	Ignore rockinrog Report Abuse
	I hope so.
Br549oks Champion Author Kansas Posts:3,902 Points:847,245 Joined:Nov 2005	Message Posted: 10/14/2008 9:16:42 AM	Ignore Br549oks Report Abuse
	keep falling..now other prices need to start falling.
ss70 Champion Author Detroit Posts:3,036 Points:730,510 Joined:Sep 2005	Message Posted: 10/14/2008 9:16:13 AM	Ignore ss70 Report Abuse
	we need $2 gas
Don20 Champion Author Oklahoma City Posts:1,525 Points:1,013,770 Joined:Mar 2005	Message Posted: 10/14/2008 9:15:29 AM	Ignore Don20 Report Abuse
	Today the pump price is $2.30 to $2.45 in many stations. You can pay more if you want name brand stations...
t4204life Champion Author Ohio Posts:4,292 Points:852,685 Joined:Jun 2006	Message Posted: 10/14/2008 9:13:50 AM	Ignore t4204life Report Abuse
	2.83 in Newark