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Post by anonymousperson on Dec 10, 2008 20:20:39 GMT -5
I paid $1.83 for premium at my favorite gas station the other day. The Chevron station on that road near 101, near the Indian store that I get my Indian groceries at (Apna Bazaar). As if you're on the road towards the duck park. They always have the cheapest gas, and they also clean cars there by hand. I recommend them. They're great. Owner is very friendly.
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Post by barneyfife on Dec 10, 2008 20:55:57 GMT -5
Your claiming that you think it's simply the possibility of off shore drilling coming online in the next few years that is driving prices down, correct? No I am claiming you cannot deny, that it is a possibility and that more than likely is one of the myriad factors involved......."stupid". |
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Post by Mink on Dec 10, 2008 21:59:32 GMT -5
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Post by The New Guy on Dec 10, 2008 23:05:43 GMT -5
i paid $1.65 at costco on monday but today i saw it for $1.59 at an arco. that means costco must have it for even less today. !!!
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Post by The Big Dog on Dec 11, 2008 12:27:01 GMT -5
The market price for crude oil futures, a commodity, is set by speculators on the commodities markets. It is not set by the oil companies. The key word in all that is "future". The market currently sees the near term future as having limited interruption to supply and production. The hurricane season in the Gulf of Mexico, while damaging to the oil production and refining infrastructure, was not nearly as bad as some were betting. Venezuela, Mexico and Alaska are all producing normally. We get the majority of our oil from those locales, as well as the Gulf of Mexico. As the spot prices for crude fall, the price of gasoline will fall in turn as we have seen. Since gasoline is farther down the supply chain it takes longer for the pump price to fall from the point where the crude price falls. Gas prices across the nation are at a five year low. We are consuming nearly as much as we ever were. Here is a handy table courtesy of the Department of Energy which illustrates how prices have been tumbling. If you scroll the page down you can also see the stockpile figures on gasoline, which have remained realtively constant. Scroll down to the bottom and you can see a chart on demand which has remained relatively constant until the last couple of weeks, and also compares quite closely to demand at this time a year ago. If you toggle the crude oil charts you notice that oil prices began to fall at the beginning of July. That corresponds to Bush rescinding the EO concerning the ban on offshore exploration and opening other potential production within the CONUS. Go figure. |
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Post by barneyfife on Dec 11, 2008 13:38:54 GMT -5
Well after reading your links it would appear as though the threat of offshore drilling.....had everything to do with it. Wonder how Saunterelle and Mink will make this go away...
Maybe another eye roll, because those are extremely constructive and adult.
Funny mink didn't cry to saunterelle about "yelling"...go figure.
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Post by saunterelle on Dec 11, 2008 13:59:23 GMT -5
You may want to believe that the "threat" of offshore drilling is what has led to the price drop, but I would argue it is just coincidence. If you look at the chart, the price has just recently (in the last couple months) taken a nosedive after a gradual decrease since July. Therefore, since we've known for a couple months that Obama will be our next President, and he does not readily endorse offshore drilling, the price drop is definitely NOT due to the offshore drilling "threat." Rather, it is due to the overall weakening economy, less demand created by people reeling in their spending.
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Post by barneyfife on Dec 11, 2008 14:20:29 GMT -5
Rather, it is due to the overall weakening economy, less demand created by people reeling in their spending. Except if you read the chart, well it contradicts this assumption by you about 100%...The demand now compared to this time last year has a miniscule difference. Hardly enough to drop the prices from 4.90+ a gallon to 1.59... I know, you are smarter than the chart. |
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Post by The Big Dog on Dec 11, 2008 14:30:14 GMT -5
You may want to believe that the "threat" of offshore drilling is what has led to the price drop, but I would argue it is just coincidence. And I would argue that while it may be coincidental, it is also contemporaneous and as such can not be ignored as at least a contributory factor. Which is exactly why I put into my post that it takes time for pump prices to catch up to crude futures prices. The market price on crude futures began to drop precipitously in July, now the pump prices are catching up. You're over reaching on this one. Any price impacts caused by the Obama election and a presumption in the market prices that he would step in front of future exploration and production (which would be economically foolish and shortsighted at this point in the ebb and flow of economic activity, but what more should we expect from a rookie beholden to the Greens for a key measure of his support... or so could go the argument  ) would not be felt at the pump for at least a few months. To be sure we've seen the spot prices for a barrel of crude start to creep back up a bit from what seems to have been a bottom. Gas prices will start to rise again incrementally. The data presented indicates that supply and demand have been relatively constant. That leaves only the market prices, controlled by the speculators in the commodities markets, to drive it. |
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Post by The New Guy on Dec 11, 2008 16:12:52 GMT -5
i wonder if i could get a 1000 gallon tank installed in my backyard so i can stock up on cheap gas before it goes up again???  |
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Post by jgaffney on Dec 11, 2008 16:31:10 GMT -5
i wonder if i could get a 1000 gallon tank installed in my backyard so i can stock up on cheap gas before it goes up again??? Whatever you do, don't tell your local fire marshall. Or, the Regional Water Quality board. Or, the Air Pollution Control District. Or.....or...... If you think it's easy stockpiling gasoline, ask someone who owns a gas station. The money that you might save by buying gas now and stockpiling it against a possible future price increase would be more than eaten up by the cost to permit, install and maintain the tank. Plus, gas goes stale, so you might be using it up before your projected savings come in. No, you're stuck with paying market price, just like the rest of us. You can be sure that there are those on the environmental left who are praying that gas will go back up to $4.50 a gallon or beyond. They see that as a Good Thing because it makes us drive less. They would never, however, take credit for a price increse that does just that. the best of both worlds, right? |
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Post by The Big Dog on Dec 11, 2008 16:59:10 GMT -5
Heaven forbid anyone should have more than a 3-5 gallon can of gas laying around. The government regulators would have an absolute field day.
I have a three gallon "approved container" in the shed for the eeeee-vil lawnmower. I'm still surprised that some squint from the city or the air quality police hasn't come and slapped me with some kind of fine for that.
I bet if they found out I was considering buying a small generator for emergencies, and storing a couple of jerry cans of fuel for it, they'd be having little blue kittens and recommending me for prison.
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) would not be felt at the pump for at least a few months. To be sure we've seen the spot prices for a barrel of crude start to creep back up a bit from what seems to have been a bottom. Gas prices will start to rise again incrementally.
