why gas prices drop?

FordPickMeUp · #1 (**permalink**) 08-12-2008, 07:43 PM

I was wondering why do you think the gas prices have droped?they were at a high of $4.38 a gallon here in ct where I am and now i see prices as low as $3.73 a gallon to $3.99 as the high.even though prices are still very high why do you think they droped so much?

sglaine · #2 (**permalink**) 08-12-2008, 08:05 PM

If they keep dropping I will be a happy man

BIGKEN · #3 (**permalink**) 08-13-2008, 08:22 AM

I think one of the major reasons that the price of crude/gas has dropped is because we have an election coming up!!! You will probably see the prices climb again after that!!!

sglaine · #4 (**permalink**) 08-13-2008, 08:29 AM

Quote:

Originally Posted by BIGKEN

I think one of the major reasons that the price of crude/gas has dropped is because we have an election coming up!!! You will probably see the prices climb again after that!!!

Ken I would say that your 99.8% correct....

Surge08 · #5 (**permalink**) 08-13-2008, 02:16 PM

Quote:

Originally Posted by BIGKEN

I think one of the major reasons that the price of crude/gas has dropped is because we have an election coming up!!! You will probably see the prices climb again after that!!!

I would have to agree with Ken

c4barnes · #6 (**permalink**) 08-15-2008, 08:34 PM

Just like a lot of factors drove it up, so are a lot driving it down.

Oil prices hit 3-month low on stronger dollar - Oil & energy - MSNBC.com

BK, ye give our good gov't far too much credit. Someone would have to actually know what he was doing to accomplish that. Fact is the US doesn't have as big a hand in the global oil market as it once did, though we're still the biggest consumer.

boxcar1974 · #7 (**permalink**) 08-17-2008, 06:34 AM

A world wide reduction in need, an increasing dollar, and economic slow down is Europe are the main reasons.

They are still $2 too high anyway.

Surge08 · #8 (**permalink**) 08-17-2008, 11:29 AM

Quote:

Originally Posted by boxcar1974

A world wide reduction in need, an increasing dollar, and economic slow down is Europe are the main reasons.

They are still $2 too high anyway.

I would agree

FordPickMeUp · #9 (**permalink**) 08-17-2008, 12:40 PM

I would like to see gas prices drop to $2.00 a gallon but the election has nothing to do with it .The oil companys set the prices not the gov't.heres hoping for $2.00 a gallon hey i can dream.

boxcar1974 · #10 (**permalink**) 08-17-2008, 05:06 PM

I see now the cash and credit prices are back at the pump. I pay with my debit card and it costs 10 cents more/gal.

sglaine · #11 (**permalink**) 08-17-2008, 05:56 PM

Quote:

Originally Posted by boxcar1974

I see now the cash and credit prices are back at the pump. I pay with my debit card and it costs 10 cents more/gal.

I was down at Ingleside Mall today and I noticed that gas was 10 cents cheaper for cash..and 15 cents cheaper then where I live

NewEnglandHerdsman · #12 (**permalink**) 08-18-2008, 01:11 PM

There was an interesting bit on the news (don't remember where) which stated that with retailers competing heavily with each other by chopping their profits down to a bare minimum, when you use a credit card the credit card company makes more on each gallon of gas than the retailer makes.

BIGKEN · #13 (**permalink**) 08-18-2008, 03:00 PM

I read the same thing...out here there are a few stations with two tiered pricing...a lower price for cash...reflecting the merchant fee charged by the credit card companies.

boxcar1974 · #14 (**permalink**) 08-18-2008, 05:31 PM

MC and visa are about 2% of the sale. American express is 5% I believe.

sglaine · #15 (**permalink**) 08-18-2008, 05:37 PM

Quote:

Originally Posted by BIGKEN

I read the same thing...out here there are a few stations with two tiered pricing...a lower price for cash...reflecting the merchant fee charged by the credit card companies.

Like Ken told me with my business discounts for cash Yes Yes......