Gas Prices Going Down??
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More Turbo
Joined: Nov 2004
Posts: 646
Likes: 0
From: Cleveland, TN
Gas Prices Going Down??
Well ive noticed lately that the gas prices where i live have been going WAY down...i remember not to long ago the average was $2.25 for regular, now the average is about $1.95, and just yesterday i saw one station down to $1.83...so i was just wondering if anyone else is seeing these changes???
Government Teat-sucker
Joined: Oct 2003
Posts: 9,748
Likes: 1
From: Virginia Beach
The prices are going to go down. The industry does this to us on a regular basis. They'll raise the price to an all time high for a few weeks and then drop it to several cents higher than it was before the raise. I guess they feel like we'll be grateful for the "relief" from the outrageous prices. I'll be very surprised if the price drops all the way back to pre-hike prices...
Hope I'm wrong.
Hope I'm wrong.
Elder User
Joined: May 2003
Posts: 609
Likes: 0
From: Garland Tx
just yesterday i saw one station down to $1.83...
. I've gladly stood in line the last few days for $1.95. I guess it's a blessing in disguise that my transportation is limited to my dads NASTY sick Buick Century 
Post Fiend
Joined: Mar 2004
Posts: 24,418
Likes: 3
From: San Francisco, Ca.
The price of gas over here may have gone down a bit, but we're still paying way more than the rest of the country.
Funny how the price rockets up like a ICBM missle, but then drops down like a bird with a parachute; and gas companies think wer're suppose to be greatful? Gimme a break.
Funny how the price rockets up like a ICBM missle, but then drops down like a bird with a parachute; and gas companies think wer're suppose to be greatful? Gimme a break.
Post Fiend
Joined: Feb 2004
Posts: 5,378
Likes: 3
From: nebraska
I think its just plot by the oil companies to make us feel good. Sad to see we have technology out there to make gas engines a thing off the past. Oil is big business in this country. Come out with a new technology and the oil companies put a kabash on that. We put a man on the moon 36 years ago an were still have gas automobiles. Give me a break. The same old sad story we have to do something to give up our dependance on foreighn oil. The governnet wants us to be depend on foreighn oil
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Senior User
Joined: Dec 2003
Posts: 449
Likes: 8
A plot to make us feel good- but just for the Memorial Day weekend. Watch them climb the rest of summer.
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Postmaster
Joined: Jul 2003
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From: Calgary, Canada
If you watch the price per bbl of crude on the market, you will notice that gas prices take about two weeks to reflect the changes at the pump. Oil was down to 46-47 dollar range for a while, down from over 50.00. It is back up over 50.00 right now so it will be going back up soon.
It's caused by people with $money$ buying and selling oil futures. If you buy 5 Mil worth of oil at 46.00 and sell at 51.00 you'd make a little over 500,000.00. They buy when the price goes down which causes demand to go up, which causes price to go up; then they sell which causes a glut, which drops prices then repeat the process.
Edit, 4 to 5...
It's caused by people with $money$ buying and selling oil futures. If you buy 5 Mil worth of oil at 46.00 and sell at 51.00 you'd make a little over 500,000.00. They buy when the price goes down which causes demand to go up, which causes price to go up; then they sell which causes a glut, which drops prices then repeat the process.
Edit, 4 to 5...
Last edited by furball69; May 27, 2005 at 07:43 PM.
Post Fiend
Joined: Feb 2004
Posts: 10,728
Likes: 1
From: Damascus-Boring, Ore
If historical patterns repeat themselves (any energy stocks have the strongest seasonal patterns on Wall St), the overall trend should be down through the summer and early fall, with spikes around holiday driving periods.
)
Hotshot
Joined: May 2004
Posts: 12,170
Likes: 5
From: The hills of No. Calif.
Yeah, we're clear down to $2.39/gal. here. Wow! What cheap gas! I'm gonna go out and buy more, right now! I guess they figure that it's so much better than the $2.63 they were gouging us for a coupla months ago, we should be grateful...yeah, right! -TD
