Cheapest Gas
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10-28-2001, 03:23 PM
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10-28-2001, 07:43 PM
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10-28-2001, 09:09 PM
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#11
10-29-2001, 11:05 AM
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Cheapest Gas
$1.45 here in Oregon, but don't hold your breath. The Arabs are meeting today to settle on how much they want to raise their rates, by cutting production. They plan to raise it about 20% today. I am sure the gas stations will jump on the price increase right away, unless they realize that many of us are already cutting back on expenses.
Strange, when I went to business school, typically price was based upon the old rule of supply and demand. Low demand means low cost. Low supply means high cost. But everything is limited by what the consumer is willing to pay. If the oil producers cut back, technically the price should rise, but that assumes the market demand is elastic enough to accept the price increase. I kind of think with the economy as it is that the buyers may hold back on buying more oil and the net gain will go down, especially if the economy is pushed lower due to the increase.
Probably too many years since I have been out of school but I kind of think the Arabs are ignoring some of the causes and effects. Yes their price may go up, but their total sales may go down, especially if they dump the economy, killing the proverbial Goose that lays the golden egg. Jeez I wish we would come up with a new technology that will allow us to stuff oil prices back into deserving faces. Someday.
Oh well, enough rambling from an unqualified "expert".
Jim Henderson
Strange, when I went to business school, typically price was based upon the old rule of supply and demand. Low demand means low cost. Low supply means high cost. But everything is limited by what the consumer is willing to pay. If the oil producers cut back, technically the price should rise, but that assumes the market demand is elastic enough to accept the price increase. I kind of think with the economy as it is that the buyers may hold back on buying more oil and the net gain will go down, especially if the economy is pushed lower due to the increase.
Probably too many years since I have been out of school but I kind of think the Arabs are ignoring some of the causes and effects. Yes their price may go up, but their total sales may go down, especially if they dump the economy, killing the proverbial Goose that lays the golden egg. Jeez I wish we would come up with a new technology that will allow us to stuff oil prices back into deserving faces. Someday.
Oh well, enough rambling from an unqualified "expert".
Jim Henderson
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10-30-2001, 07:59 PM
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10-31-2001, 10:23 AM
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Cheapest Gas
$1.59 for 87 at the cheapest station here in San Mateo, CA(SF bay area). All you need to do is drive a few miles out towards the valley and the price drops 10 cents or more.
But you can still find plenty of places charging $1.85. I wish people would stop buying from those stations. It only encourages them to continue charging higher prices.
But you can still find plenty of places charging $1.85. I wish people would stop buying from those stations. It only encourages them to continue charging higher prices.
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10-31-2001, 11:09 AM
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