WOW! I spotted $2.99 gasoline at three stations last night

[williamwaco]

And two more this morning!

[43PU]

still 3.39$ here in KY

[Recluse]

Where? I need to fill my truck up today.

:coffee:

[NewbieDave007]

Lol. I saw that last night and even got some. 《=Isn't it sad that we are a little excited about this?

[Beagle333]

$2.97 here, and with my WinnDixie points card, it was $2.47/gallon. It felt good to fill up!

[richhodg66]

$2.94 at Phillips 66 (non ethanol gas) when I filled my motorcycle last night. Couple of cents cheaper at some of the other places.

[Hamish]

Of course gas prices have dropped! We're in a pre election cycle!

[1lonewolf75]

3.07 here this morn when I went to get swmbo's smokes

[3006guns]

$3.99/gallon here in northern Kalifornia. Still about $3.50 too high..........

[Mk42gunner]

Of course gas prices have dropped! We're in a pre election cycle!
Gotta keep the gullible ones happy.....

[RoyEllis]

Paid $2.86/gal this morning, lowest I can remember in some time.

[tomme boy]

Selling for $2.26 on the stock market. $2.979 here

[w0fms]

It always goes down before an election.. especially one where it looks like the Democrats will lose. Enjoy it until Thanksgiving.

I drive a diesel car, and the farmers (and me too!) are still getting hit by the "harvest time increase" so I don't have much love right now for the election gas drop...

[ph4570]

High test is still about $4/gal near my roost.

[Hardcast416taylor]

$3.14 for gas and $3.59 for farm grade diesel yesterday. $82 later I had my winter supply of fuel for my 2 tractors for snow plowing my yard.Robert

[CastingFool]

I saw one gas station advertising $2.98 for regular yesterday.

[Petrol & Powder]

It's been running right around $3.00/gal for a few weeks here and I saw $2.99 last Sunday.

I'm hoping propane follows that downward trend!

[fivegunner]

It`s $2.79 here in Lowell Michigan.

[osteodoc08]

It always goes down before an election.. especially one where it looks like the Democrats will lose. Enjoy it until Thanksgiving.

I drive a diesel car, and the farmers (and me too!) are still getting hit by the "harvest time increase" so I don't have much love right now for the election gas drop...

Yep. Diesel is about 3.69 locally.

[Petrol & Powder]

Selling for $2.26 on the stock market. $2.979 here

That's about right. 18.4 cents on the gallon federal excise gasoline tax plus the state tax (20.2 for Va., 22 cents per gallon in Iowa), toss is some transportation/distribution costs, the distributor's mark up and leave some room for the final retailer's profit and you're getting pretty close to $3.00/ gallon final cost with taxes.

[dragon813gt]

And I thought $3.26 was good. I usually have Redner's Pump Perks between $.20-$.70 and I only have to fill up once a month. Having a work vehicle is nice :)

[Smoke4320]

$2.97 in upper SC

funny right before the election gas goes down and employment goes up

[dragonrider]

I use about 10 gals. of diesel a year in my Kubota, mostly in the winter using the snowblower. I know that is not a lot but it would be nice if the price came down some.

[MtGun44]

Drove from KC to north Florida starting Tuesday. Got $2.86 in Missouri and then $2.83 in Clarksville, Tenn. Finally
topped off in Valdosta at $2.99 before dropping into 'gasoline hell' of Florida. Florida is actually smart, they have a LOT
of road traffic from folks that do not live here, so they have a lot of gas tax so out of staters pay a good bit of the cost
of their roads. In state folks pay, too, but those tourists get to contribute for the road wear and tear that they cause.

BUT - I try to fill up as I come in and minimize buying in Florida if I am just visiting for a few days.

My hat is off to RunFiveRun and all his compatriots (BullShopJunior is now joining the crew) in North Dakota that are
fracking the country into a minor economic miracle when the regime is doing everything to stop petroleum
production and refining in these United States. A hearty "BRAVO ZULU!" to the petroleum industry.

Bill

[Remiel]

still between 3.45-3.57 here

[MtGun44]

Consequences of voting. . . . . . . .

Bill

[btroj]

My wife paid 2.95 this week.

[bikerbeans]

$2.97 in NW Ohio this afternoon, I can now fill up my Jeep for less than 50 bucks. Still way too much but I don't expect smokeless to go back to $9.95 a pound either.

BB

[BNE]

lol. I saw that last night and even got some. 《=isn't it sad that we are a little excited about this?

exactly!

[Artful]

http://newsroom.aaa.com/2006/08/national-average-gas-prices-falls-below-3-per-gallon-aaa-says/


National Average Gas Prices Falls Below $3 Per Gallon, AAA Says

ORLANDO, Fla., August 15, 2006

The nationwide average price of self-serve regular gasoline fell below $3 per gallon today after nearing the previous all-time record high of $3.057 set on Labor Day 2005, AAA’s daily, on-line Fuel Gauge Report (www.aaafuelgaugereport.com (http://www.aaafuelgaugereport.com)) shows.

The drop in price to $2.997 per gallon is contrary to widespread projections last week that fuel prices would reach new record highs, AAA said.


Last week, the average price of gasoline reached $3.03 per gallon as British Petroleum (BP) announced they would be temporarily suspending production at a Prudhoe Bay oil field to repair a damaged pipeline. The news sent the price of oil above $76 per barrel before declining to near $73 per barrel today.


AAA said a combination of factors helped mitigate the effects of BP’s announcement on the price of gasoline. These include the fact that current oil inventories are relatively healthy in the United States, the Bush administration signaled it would release oil from the Strategic Petroleum Reserve if needed, the truce between Israel and Hezbollah in Lebanon seems to be holding, and the continuation of relatively calm weather in the Caribbean.


The average price of self-serve regular was $2.96 one month ago. One year ago the price was $2.484 per gallon, AAA said.

According to AAA, Hawaii has the highest average gas price in the nation at $3.368 per gallon. California and Connecticut both have the next highest average prices; both at $3.216 per gallon. Half of the states, plus the District of Columbia, have average retail prices in excess of $3 per gallon.


South Carolina has the lowest state-wide average gasoline price in the nation at $2.822 per gallon. Mississippi and Kentucky have the next lowest prices; both at $2.885 per gallon.


Nationwide, the price of self-serve, mid-grade gasoline averages $3.182 per gallon, a decline from $3.188 per gallon in the middle of last month, and up from $2.636. Self-serve premium averages $3.297 per gallon, down from $3.304 one month ago. Premium averaged $2.733 per gallon at this time last year.


The national average prices for self-serve regular unleaded gasoline for AAA’s mid-August survey for the last five years are: 2005, $2.484; 2004, $1.862; 2003, $1.566; 2002, $1.405; and 2001, $1.393.


AAA’s Fuel Gauge Report is based on data from Oil Price Information Service, the nation’s most comprehensive source of petroleum pricing information. AAA purchases the data and makes it available free on the Internet as a public service. Average daily prices for the nation, all 50 states and more than 250 localities are available for all grades of gasoline, making the site the most current and complete public source of fuel price information.


As the nation’s largest motoring and leisure travel organization, AAA provides more than 49 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at www.aaa.com (http://www.aaa.com/).

http://www.gasbuddy.com/gb_retail_price_chart.aspx
http://charts.gasbuddy.com/ch.gaschart?Country=Canada&Crude=f&Period=132&Areas=Canada%20Average,,&Unit=US%20$/G

[MarkP]

Gas $2.97 (E10)
I got Diesel @ $3.52 but most stations are still $3.69.

[41magjh]

Still 3.29 to 3.34 in the poconos I don't believe we will see under 3.00

[Frank46]

Just topped off my truck here in Louisiana next up from regular unleaded @2.29 a gallon. But I have seen some gas at lower prices. Think buying gas is like playing the stock market one day your up and the next down. Frank

[MaryB]

Was still $3.29 in the Twin Cities today but out state has dropped to $2.99

[vkopf]

$2.86 at Goochland Courthouse just outside of Richmond, VA this morning.

[Freightman]

$2.89 here with discount of using debit card

[FredBuddy]

I'm in the same group with MtGun and Smoke - - 'lection time !

[Gator 45/70]

22lr starts showing up and the price of gas is dropping off.
Things that make you go Hmmm.

[Ed Barrett]

Was in Springfield, Mo today (10/10/14), gas was 2.799

[bugkiller]

Sadly, not here, :(:( yet.

[TCLouis]

Co-worker told me that gas was $2.84 in Dickson TN this morning.

One county over and it is $3.21 here. Always more expensive here than other counties in the Nashville area.

[twc1964]

Good deal on gas beagle333, wish we still had winn dixie in our area. Gas is still at 3.00-gal here.

[MrWolf]

Saw $2.8399 yesterday in Mt Holly, NJ yesterday.

[Black Powder Bill]

Paid 3.09 with the Ingles card back labor day weekend in Hull, GA. KwikFill here in New Yorkisstan has a special .10c off per gallon making fuel 3.36 gal last week.

Prices going down just before election day.

[xtphreak]

$2.74 / gal Exxon
$2.79 / gal Sam's & Costco
Spartanburg SC
Now

[doc1876]

$2.76 this after noon in Festus, and $2.61 this evening! (yup, I got it for $2.76 :sad: )

[xtphreak]

Last week $1.99 for gas at Sams Club in Spartanburg South Carolina

[Reg]

1.89 per gallon at the Sapp Brothers truck stop in Sidney Nebraska.

[Omega]

$1.99 here in Clarksville, TN; $1.96 with my fuel card. I wish diesel would come down more, I have a tractor I need to run.

[dragon813gt]

Where I live it's $2.69. It ranges from $2.39-$2.92 across the area where I work. I'm not holding my breath for sub $2 gas in this area.

[Beagle333]

$2.17 at Sam's Club yesterday.

[cattleskinner]

I got it for $1.91 last evening at UDF in Bucyrus, OH.

[Echo]

TA between Phx & Tuc had it for 2.15 yesterday. 2.19 here in Tuc

[John Guedry]

2.14 Exxon regular this morning.

[Iowa Fox]

I had to run into town last Saturday. It was 2.11 at a couple of places, don't know what it has done this week so far around here.

[1989toddm]

For all you smartphone users, download the app called Gas Guru. Its available for apple, not sure about android. It shows the prices of gas in your vicinity, and in two years of using it, I have seen it wrong by a few cents only once.

[bubba.50]

$2.23.9 here in our little town. 40 miles away in the "big city" of Salem Va it's $1.99.9 at a couple places. maybe lower now as that was a couple days ago.

[Artful]

For all you smartphone users, download the app called Gas Guru. Its available for apple, not sure about android. It shows the prices of gas in your vicinity, and in two years of using it, I have seen it wrong by a few cents only once.
http://www.motortrend.com/gas_prices/
http://www.gasbuddy.com/

[1911cherry]

$2.03 south of Jackson ,Ms

[shaper]

Filled up in Ringgold Georgia yesterday for $2.19. All stations in sight had the same price, just off I-75.

[Handloader109]

Drove from AR to Ms and back this w/e. $1.899 fill up in nwAR,up to $2.49 thru rural LA and back to $1.999 in MS near Jackson. Gasbuddy is your friend

[mozeppa]

1.94 here in indy 500 land.

[John in WYO]

Paid $1.68 in Ft. Collins, CO at Costco a couple hours ago

[km101]

Just north of Dallas, $1.87. Hope it keeps falling.

[sprinkintime]

2.19 Carson City, NV

[RED333]

1.89 to 1.99 here in middle TN.

[TXGunNut]

Saw 1.94 in a few places today, was 2.25 from S TX all the way up to N of Waco Sunday. Thought I'd never see it this low, someone said it was heading for 1.50. Heard about some oilfield layoffs, guess that's to be expected.

[Bullfrog]

What the hell gives? This is just not right. I just paid 3.84 a gallon last summer and today it cost me 2.19 a gallon. I am not complaining, but someone is certainly manipulating the fuel prices.

[Frank46]

Gassed up the truck an regular unleaded gas was 2.15 a gallon. Closer to town one place was 2.10. Diesel has come down a lot. Since it does not degrade over time like gas gonna stock up and treat it. Frank

[MtGun44]

"manipulating fuel prices" LOL!!!!! Supply and demand. . . . a long term roller coaster, always has been,
always will be.

It is called a free market. Prices for oil are at some value. Chinese and Indians start being able to afford
more cars, start using a LOT more oil (gasoline), so oil is in short supply, price goes up. Some smart folks in
US oil companies figure out cost effective ways (directional drilling and fracking) to extract oil that was
previously not technologically possible to get to. Lots of new US oil hits the market, so now there is lots
of oil, and even some excess - price starts to drop. And so it goes. Nobody really manipulates the market,
although a heck of a lot of folks (Putin, OPEC, Saudis, etc) have really given it a good shot. Some
succeeded for a bit, then the free markets overran them. It takes a few years for the markets to sort
things out, but eventually, they do.

Bill

[drinks]

Not looking for the withdrawal pains when it bounces back up from the $2.00 present price here.

[mozeppa]

What the hell gives? This is just not right. I just paid 3.84 a gallon last summer and today it cost me 2.19 a gallon. I am not complaining, but someone is certainly manipulating the fuel prices.

actually the arabs decided that they would make oil more plentiful to us due to our ability to "frack"
for oil on our own land.

fracking (sp) opens up a way to get oil out of the ground like never before.

they know we wouldn't need their oil any more ...so now its cheaper to buy theirs than it is to put crews to work fracking.
just isn't economically viable.
this keeps them in the drivers seat............for now.

their only other "export" is ..............uh..................sand!:bigsmyl2:

and of course ...terrorists.:evil:

[1Shirt]

Low here as of yesterday that I saw was $1.97.
1Shirt!

[gkainz]

Paid $1.68 in Ft. Collins, CO at Costco a couple hours ago
Well I screwed up then! Drove to Fort Collins yesterday but filled up at Westminster Costco for $1.94. Didn't realize they built a new Costco on Harmony Rd exit!

However, I'm still a little peeved that diesel is $3.34 ... yeah, down a little from this summer but really? Almost a buck and half higher than gas?

[MtGun44]

It is not clear why diesel is staying so high. I wonder if there are issues with
refinery capacity or capability. I know that for most oils you can break it down
to gasoline or diesel, so maybe they are just running a lot more gasoline. Not
sure if the same refinery can easily be switched back and forth - any refinery
guys out there?

It has been almost 40 years since I worked for a chemical company that
did some of this stuff, not likely to be the same. It does seem odd, wonder
what is driving it. There will be some differential because diesel
contains more energy per gallon than gasoline, but not that much more.

Bill

[GOPHER SLAYER]

I was forced by circumstances far beyond my control to go to Wally World yesterday. I actually wanted to buy a battery for my cell phone. They don't sell them. As you might imagine all the associates [employees] were running about at full speed. I thought I would stroll by the sporting goods department and see what the ammo supply looked like. As I approached the department I could see the sales person and he was the loneliest looking person in the world. He was simply wondering around trying to look like he was actually doing something. He spoke to me and I returned the greeting but I didn't feel like conversation so I didn't stop. With a glance I could see the ammo shelves were bare as mother Hubbard's cupboard. EVERYONE HAVE A VERY MERRY CHRISTMAS AND A HAPPY NEW YEAR.

[parson48]

Wife filled up today on east side of Indy, 1.87 per gal.

[waynem34]

This means ofcourse build that super cheyenne or chevelle.

[dtknowles]

It is not clear why diesel is staying so high. I wonder if there are issues with
refinery capacity or capability. I know that for most oils you can break it down
to gasoline or diesel, so maybe they are just running a lot more gasoline. Not
sure if the same refinery can easily be switched back and forth - any refinery
guys out there?

It has been almost 40 years since I worked for a chemical company that
did some of this stuff, not likely to be the same. It does seem odd, wonder
what is driving it. There will be some differential because diesel
contains more energy per gallon than gasoline, but not that much more.

Bill

I am not a petroleum or chemical engineer so take this for what it may be worth. Diesel, Heating Fuel and Kerosene are all very similar and refineries tune their output prepare for winter heating season. Typically gasoline consumption goes down in the winter but Heating Fuel and Kerosene use goes up in the winter that might be why Diesel did not drop like gasoline.

Tim

[starmac]

Another reason that diesel might be slow coming down, is that all, or most retailers contract it months in advance to secure the availability and price. I can imagine some of the large truckstop chains are feeling it now.

[dragon813gt]

It's the winter. Diesel and fuel oil prices do not go down. A good portion of the north east uses fuel oil to heat their homes, thankfully mine is natural gas. Anyone that locked in their fuel price for the year is going to take it up the proverbial backside. But considering they've come out ahead the past few years the oil companies will be happy. Looked at the price of K1 for the garage heater and it's at $3.78. Won't be buying any at that price.

[skeet1]

Do you guys remember when the liberal politicians said "you can't drill your way out of this problem" and Sara Palin was saying "drill baby drill". Well guess who was right.

[TXGunNut]

Do you guys remember when the liberal politicians said "you can't drill your way out of this problem" and Sara Palin was saying "drill baby drill". Well guess who was right.

Yes, I remember. Diesel prices around here are all over the place, at least a 50 cent spread.

[reloader28]

We paid about $2.25 a week ago for the middle grade gas and a friend told me he paid $2 for diesel today.

[XxWoodsHunterxX]

$2.329 @ Costco Northern California. $2.659 @ all other gas stations in area.

[Bzcraig]

Best price in central CA $2.39 but the idiots of this state approved a gas tax that in practice could double the price

[doc1876]

1.80 for regular unlead, Festus Mo last night.

[PB234]

Enjoy the low prices while you can. The Saudis are crushing the oil industry in the USA by selling oil cheaper than we can get it out of the ground. There will be bankruptcies by some of the producers and this will send a message to lenders that the shale oil business can be wrecked by the Saudis whenever they want to. Many oil producers will shut down rigs, stop exploring or making investments for the future or just go broke. In any event a lot of the loans to oil producers will go bad and lenders will be slow to make loans in the future to shale firms as long as they remember what can happen whenever it threatens Saudi dominance. After the industry is hurt badly what makes anyone think they are better off again more dependent on the Saudis/Russians and other producers with cheap to get out of the ground oil.

Consider that these loans to shale producers will go bad. Anyone think the bad debt will not work through the system and create a bit of havoc? A bank experiences havoc and naturally withdraws credit to everyone while licking their wounds. Consider the effect of a short term reduction in oil costs on the alternative energy businesses and say goodbye to it even though it is a step away from oil that we have been unable to do for decades. It is like a drug pusher saying the first one is free.

Want a bit more fun? There seem to be bonds (lots of them) that have their interest rates related to the price of oil and also their backing (security) dependent on the price of oil. These are just derivatives that are creations of mathematical finance folks and they apparently are going in the direction of going bad. It will hurt some lenders again reducing the pool of lenders willing to make loans. It works through a system as everything is connected and how many here borrow money for a home, car, small business, anything?

Think Mr. Putin is hoping for a problem in the Saudi oil fields? Best time for it is after the US fracking business is run out of business by low oil prices thanks to the Saudis making a point and saying they have the power and don't mess with them.

[dtknowles]

Enjoy the low prices while you can. The Saudis are crushing the oil industry in the USA by selling oil cheaper than we can get it out of the ground.............

Don't you think this is a bit of an exaggeration? The average cost to produce a barrel of oil in the U.S. is still under $40 per barrel and from and offshore well it is around $60. I don't see $60 dollar a barrel oil crushing U.S. oil business. The exploration business will get be scaled back a lot until the price recovers and if it never recovers then it will be because there is just too much oil and no need to find more.

As far as the impacts to financial markets, we will have to see. One of the things with derivatives is they are really either a hedge or a bet depending on whether they are held by a producer or a speculator. Either way there is a winner and a loser, it is not like everyone loses someone will have a profit to reinvest or if it was a hedge they will have a gain to offset the loss on product. It is not like the fracking business will be wiped out. It will still be around for when or if the price goes back up.

If the price does not go back up then the Saudi's will be in big trouble. They can afford to deal with prices at this level for no more than a decade before their government would fall apart and other producing countries will not stand even that long. The producing countries including Russia have a balance of payments problem not a cost of production problem. Most of the exporters are Totalitarian Governments that basically operate at a loss but make up the loss by exporting raw materials, they stay in power by providing handout to their people. When the government can't provide the handouts anymore the people will bring down the government or the government will crush its people.

Tim

P.S. With the producers the problems is not really price it is total revenue. Price times quantity because what they need is Dollars. If either the price or the quantity delivered goes down then they bring in less Dollars. The Saudi's could have cut production to try and keep the price up but that would still mean less Dollars and it was no garuntee that someone else would not replace that missing production and the price would still fall meaning even less Dollars for them.

Tim

[copterdoctor]

$2.439 in southeast MA yesterday. If the decrease continues, it may get down to where it was when Obama first took office.

[dragon813gt]

Saw Diesel for $4.25 cash and $4.58 credit at a Lukoil in Bucks County, PA. Lukoil's prices are always high but this one was just ridiculous.

[daengmei]

$1.98 near Ft Knox Ky for 2 days now.

[Bullshop Junior]

2.39 here. never thought I would whine about low gas prices lol...

[psmokey]

Just filled up $1.88 for reg here in Whitehall Mi.
Phil

[PB234]

Tim, the derivatives based upon oil price are more than the futures or options traded. Some of them are supposedly already failing or very close to doing so. It will be a default on a debt instrument where many of its features are based upon the price of oil.

The frackng industry has how much debt and how do they pay it when it is no longer profitable to stay in business? Should make for some interesting times.

As for oil producing nations crushing their people what else is new? Problem is the system is rather brittle and that is enough to complicate the issue. If anything is true it is that many unexpected things can happen and surprise the heck out of you and me. A lack of stability is a lack of ability to see into the future and makes capital investment harder to make.

Just a messy situtation that we are interested in seeing how it turns out. All the best for the Christmas, the New Year and those following.

[dtknowles]

Tim, the derivatives based upon oil price are more than the futures or options traded. Some of them are supposedly already failing or very close to doing so. It will be a default on a debt instrument where many of its features are based upon the price of oil.

The frackng industry has how much debt and how do they pay it when it is no longer profitable to stay in business? Should make for some interesting times.

As for oil producing nations crushing their people what else is new? Problem is the system is rather brittle and that is enough to complicate the issue. If anything is true it is that many unexpected things can happen and surprise the heck out of you and me. A lack of stability is a lack of ability to see into the future and makes capital investment harder to make.

Just a messy situtation that we are interested in seeing how it turns out. All the best for the Christmas, the New Year and those following.

I never considered Options or Futures to be derivatives but I guess that technically they are but they were around a long time before the term derivatives entered the scene. I was thinking about credit default swaps but I can understand how I confused you because I mixed things up a bit.

It is clear that you understand the risks associated with capital investment in oil and gas extraction. Brittle is a good word. With unpredictable demand and politics controlling the supply, only the fool hardy would make big capital investments or lend money to those that would without hedging their bets. I am not aware of any of the players being too big to fail but I have not seen the audits of the big banks, they did get good marks so the people holding losing hands must be smaller fish.

I am not on the inside and it would be nice if you could share more of your insights.

Tim

Merry Christmas to all.

[reddoggm]

I filled up today for 1.98 a gal in the Cleveland town Buckeye lowest I have seen it yet
DOGG!!!

MERRY CHRISTMAS ALL !

[PB234]

Tim, I would be naive to say I understand what is going on. Just a guy who reads a bit and now reading the loans to shale oil are about $500 billion dollars (bonds & leveraged loans) and the security for the loans (oil) is now questionable because it is worth less. I read that funding has dried up which means loans can't be refinanced as they come due and many are predicting that a considerable amount of the loans will go bad because the debt can't be serviced. I read the fear for shale oil related junk bonds is now starting to spread to other junk bonds for other uses than energy which some term contagion. Junk debt is a $2 trillion dollar market.

Obviously it is not little people like us who own these bonds except maybe a bit in an employee retirement plan, so it must be institutionally/pension managers/bank/insurance company, etc. owned. Lets say this gets ugly and blocks up the financial system the way the home lending financial instruments almost took it down a handful of years ago. It would be very messy. Would we again have the government taking over the bad loans as they did with housing? Who is on the hook for government debt? You, me, and all the other citizens on the hook for government debt? Even though the government can print money it is not free for the citizens.

I understand that interest rates on junk bonds have gone up a lot recently reflecting the problems in the oil related junk debt. From 4% to about 10% ? One has to laugh at the idea that issuers of junk debt can afford much higher interest rates. Debt funding for shale may have dried up.

If the holders of the junk debt get slaughtered and peoples' pensions and future prospects decline badly you can understand the pain that will be felt. If it slams a few big institutions either the government steps in again and does the best it can or perhaps the financial system grinds towards a stall for a while. If one wonders about their counter-party in a proposed transaction one does not do the transaction. I don't follow the commercial paper market which was at risk when housing bonds disturbed the market. Back then people were scared that commercial paper would stop dead. It means many large safe corporations that used commercial paper would not be able to fund operations. Think what this means.

I am just a spectator. The game is far beyond my head and so maybe even as a spectator I see it completely wrong. Imagine how Mr. Putin sees it

Things can get out of hand and go haywire especially in a complex interrelated system where the things one assumed would continue (like interest rates efficiently allocating capital) have stopped. What kind of free market is there when interest rates are held too low and capital is underpriced and sent to risky businesses where risk has been under estimated?

I have no great vision and hope it works out just fine. Lots of alternative futures possible so one just hopes for the best.

[Ed Barrett]

Paid $1.749 in Springfield Missouri today.

[shooterg]

I paid the extremely high price of $1.999 today ! We're almost back to where we were when O came on board.

[TXGunNut]

Paid $1.919 last night, saw it for $1.849 in the next town, lol. I'm enjoying the short-term effects of this little break in fuel prices but it is indeed the Saudis showing us who controls the price of oil. Like most folks in my business (and many others) my livelihood is somewhat affected by the health of the domestic oil production industry so it's a mixed blessing for me. This little price drop will save me over $100 this month over last year's prices but some of my oilfield-related customers have trouble paying their bills during good times, during tough times they simply disappear.

[gwpercle]

12/20/14 fill up, regular gas , $1.77 in Baton Rouge , La.
How low will it go ?
Gary

[TXGunNut]

12/20/14 fill up, regular gas , $1.77 in Baton Rouge , La.
How low will it go ?
Gary


Rumor I heard was $1.50

[firefly1957]

On 12/27/2014 in Flint Michigan i saw gas at $1.79/gallon.

[trapper9260]

last I seen around here is 2.22

[altheating]

We are still paying $2.799 with a discount card which saves us ten cents a gallon on Sunday's. Lucky us!

[jlm223]

12/28/14 seen $1.92 gallon in central Indiana!

[saphelps]

$1.91 here in Fountain, CO the last two days. Buddy of mine hit the jackpot at a station that programmed the pump for $.95! They quickly fixed that but would have loved to fill up my 32-gal tank :(

[Bazoo]

1.87 in Elizabethtown Ky tonight.

[waynem34]

trying like hell to get my poweram back up and running while the gas is cheap.Sorry as hell for the job lose cause by the cheap price.$2.10 here

[Echo]

Filled up yesterday at Costco for 2.07/gal.

[1911cherry]

$1.89 in Richland, Ms

[Kent Fowler]

1.66 at the HEB in Fredericksburg , Texas around noon today. Wish I'd had my truck instead of SWMBO's car.

[dragon813gt]

Still $2.53 here and I'm hating PA more w/ every passing day.

[dtknowles]

I did not buy gas today but drove by a number of stations with it for $1.91. Slidell LA

Tim

[starnbar]

Cheapest in central fl is 219 that is still better than what I was paying.

[popper]

1.70 yesterday. Son was in fracking business a few years back, then Bush had all the low producers capped.

[pmer]

I paid 1.97 a couple days ago. While I was there I saw E85 fuel for 1.97. I wonder if alternative fuel production has slowed down too? I don't think anyone would buy E85 for regular driving when it is the same price as unleaded regular. E85 can be interesting for a high performance engine but you really have to pour it in.

Just think how many dollars went into engineering hybird cars and alt. fuels all based on 4.00 dollar plus gas. I hope low cost fuel is here for a while but I can imagine that there is a industry and agendas dependant on higher prices.

Diesel used to be cheaper than gas, I wonder what happened there?

[MtGun44]

$1.78 here in KC area on the Kansas side (more gas tax than Mo side), and $1.69 in Belton, MO near
where I used to work.

Yahoo! "Drill, baby, Drill." Palin was right, obviously.

Bill

[shaggybull]

gas $1.95 diesel $2.60 gallon here on Indian Reservation

[Bad Water Bill]

Senator DIAPERS Durban announced yesterday that we need to raise the gas tax.

It was just a few years ago he was complaining that gas prices in Chiraq was the highest in the nation and wanted a congressional investigation.

Then someone informed him Chiraq had ELEVEN different taxes in a single gallon of gas.

He has been silent till today.

I saw gasoline for sale in Joliet Il the other day for $1.99 and that included the .87 in state and federal taxes.

The gov did not spend even 1 dime to get the gas in my car yet they collect almost 1/2 of the price for doing absolutely NOTHING.

[michiganmike]

Paying $2.09 here in Michigan. A great relief and blessing.

[DeputyDog25]

And two more this morning!

$2.39 here in N.E. Florida

[backhoe]

Down to $1.95 here in N. Miss. as of today. Coarse I filled up yesterday at $1.99 as my luck ain't changed none.

[GOPHER SLAYER]

Senator DIAPERS Durban announced yesterday that we need to raise the gas tax.

It was just a few years ago he was complaining that gas prices in Chiraq was the highest in the nation and wanted a congressional investigation.

Then someone informed him Chiraq had ELEVEN different taxes in a single gallon of gas.

He has been silent till today.

I saw gasoline for sale in Joliet Il the other day for $1.99 and that included the .87 in state and federal taxes.

The gov did not spend even 1 dime to get the gas in my car yet they collect almost 1/2 of the price for doing absolutely NOTHING.

Bill, here in commiefornia where we already pay the second highest gas tax in the nation, we just got hit with another hike on 1/1/2015. Brother Moonbeam said we need more money to maintain road repair. We had a separate gas tax fund, you know what that means. This money will be put in a lock box and as long as the wind blows and the grass grows it is untouchable except for road repair. Well in 1958 when Moonbeam"s daddy got elected Governor, low and behold the grass quit growing and the wind ceased to blow. Pat Brown says, we need that money to do other things like buy votes and since the Dumbocrats made a clean sweep in the election that year, he got his wish. LBJ did the same thing with social security when he couldn't get enough money from congress to finance the war in Vietnam.

[daniel lawecki]

It was a$1.62 with my wife's Kroger points I filled up for .92 cents a gallon. Toledo Ohio.

[MtGun44]

Amazing that Fla is 70 cents a gallon more expensive than in Kansas City area.
Can that all be the difference in state taxes?

Bill

[M-Tecs]

$1.79 at Costco Coon Rapids MN and $1.89 most other places.

[dtknowles]

.................................................I saw gasoline for sale in Joliet Il the other day for $1.99 and that included the .87 in state and federal taxes....................

Bill, you better check your math, it is more like $0.60 per gallon in taxes. You lose credibility if you have your facts wrong.

Tim

[dragon813gt]

Amazing that Fla is 70 cents a gallon more expensive than in Kansas City area.
Can that all be the difference in state taxes?

Bill

I'm still paying $2.53. I know our taxes are high but almost $1 higher? Refineries are 50 miles from where I live. Distribution hubs are all over. I doubt I will see gas below $2 which is BS.

[Bad Water Bill]

Bill, you better check your math, it is more like $0.60 per gallon in taxes. You lose credibility if you have your facts wrong.

Tim

Since I DO live here and can read the pump where the taxes are listed I post what I read.

Now back to the IGNORE list with you.:evil:

[bgokk]

Check this site http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
shows total fed and state tax gas and diesel as of April 2014.

[dragon813gt]

I thought PA was the highest. Looks like CA has us beat by 1.3 cents.

[SSGOldfart]

2.03 in Zavalla Texas today[smilie=f:

[dtknowles]

Since I DO live here and can read the pump where the taxes are listed I post what I read.

Now back to the IGNORE list with you.:evil:

Looks like you need a reading lesson or the pumps are marked wrong or your station is overcharging you. The information is public and easily verified. Multiple sources report these taxes, the report by state in a previous post does not include that sales tax on gas that your state charges that is why that post shows the tax as only in the low 50's but that needs the 6ish percent sales tax added that is why I got you up to 60 or so cents per gallon. The gas price would have to go up to close to $5 per gallon to get the tax per gallon back to the 80 cents a gallon range.

The reason I was skeptical of your claim was if you added the tax you claimed to the wholesale price of gas the station who's price you quoted would have been losing more than 20 cent per gallon. We are not seeing that kind of price war yet.


Tim

[Handloader109]

Had to go to Broken Arrow, OK today. Filled up for 1.69 a gallon with no other discount. About a dime less than I've been paying in NW AR.

[Handloader109]

Amazing that Fla is 70 cents a gallon more expensive than in Kansas City area.
Can that all be the difference in state taxes?

Bill

No refineries in fl. Shipping is a lot of the difference

[MtGun44]

I still think that $2.39, minus $1.69 equals $0.70.
Now who is losing credibility?

I wondered if shipping could be that much, but maybe so. I thought most
gas was moved by pipeline most of the way and then short hauled by
trucks.

Bill

[archmaker]

$1.57 without any discount in Tomball Tx

[duckey]

$1.99 at the 711 here in Williamsburg VA.

[dtknowles]

I still think that $2.39, minus $1.69 equals $0.70.
Now who is losing credibility?

I wondered if shipping could be that much, but maybe so. I thought most
gas was moved by pipeline most of the way and then short hauled by
trucks.

Bill

Sorry if you thought I was commenting to your post. Bad Water Bill post that gas was $1.99 with $0.87 in taxes that means the station would have needed to buy the gas for $1.12 to breakeven not counting labor and overhead. Best wholesale price I could find is $1.37 so they would be losing $0.25 per gallon it they could even get it for $1.37. As far as transportation to Florida, some comes in by boat.

Tim

[MtGun44]

OK, wrong Bill! :bigsmyl2:

I was thinking that I still remembered how to subtract. . . . . .

Bill

[DLCTEX]

$1.79 in Elk City, Ok. $2.09 at home.

[Beau Cassidy]

$1.69 in Lebanon, TN yesterday

[TXGunNut]

I saw gasoline for sale in Joliet Il the other day for $1.99 and that included the .87 in state and federal taxes.

The gov did not spend even 1 dime to get the gas in my car yet they collect almost 1/2 of the price for doing absolutely NOTHING.-Bad Water Bill


Mind-boggling thing, ain't it?

[marlin39a]

Paid 1.83 in Phoenix yesterday.

[gbrown]

I got it for $1.76 at Buc-ee's in Baytown on IH10 yesterday. Around $1.83 locally. Who knows how long this will go on? From what I've seen and read, it'll last a while, at least until early spring when refineries shut down for maintenance and resetting for the summer. But then again, I dropped my crystal ball and broke it, so I don't have a clue.

[dragon813gt]

Articles I've been reading recently are predicting years of cheap oil prices. The Saudis are going to keep pumping to keep market share.

[Bad Water Bill]

The big question is just how much longer can they keep pumping till their meter reads EMPTY?

[fatelk]

I just had a thought. I don't know how many times in the last year I've heard people say that the price of .22lr ammo will NEVER come back down again. This is the new normal, get used to it- "Just like the price of gas!" :)

[MtGun44]

Let's hope your .22 LR analogy holds true!

Bill

[Bad Water Bill]

If prices drop how long will it be till the HOARDERS of the BILLIONS and BILLIONS of rounds are forced to dump their stash in order to attempt to feed their families?

Will the 22LRs then sell as cheap as the gasoline was back in the 50s?

[Artful]

Paid 1.83 in Phoenix yesterday.
Yesterday I paid 1.79 9/10's in Phoenix

[waksupi]

I heard on the radio this morning that it is expected gas will go down to $1.25 per gallon.

[larryw]

$1.87 down the street from us. West Valley AZ.

[texassako]

The tv news this morning had a reporter out at a Texas station with $1.42 gas.

[rockrat]

Gas war in Ft. Collins , CO $1.51 shown on the TV. Predicting oil will stay low for years. For those of us in the "patch", not good news. Lot of us going to be unemployed soon.

Now, when will diesel come down? Saw on TV this morning, someone had diesel for $2.29, but still around $2.99 here.

[EDK]

One theory is that OPEC will keep price down to financially break the Iranians and Russians. Iran loses under $70 a barrel and the Russians under $110, IIRC what the FOX NEWS guy said awhile back.
Meanwhile it was $1.62 at the Wal Mart/Murphy station in beautiful downtown Festus MO, mile marker 175 on I-55, south of St Louis.

[Bad Water Bill]

Festus MO

Congratulations Glad to see you got some of those noisy horseless carriages in your town.:kidding:

Sorry but Girty made me do it.

[dtknowles]

One theory is that OPEC will keep price down to financially break the Iranians and Russians. Iran loses under $70 a barrel and the Russians under $110, IIRC what the FOX NEWS guy said awhile back.
Meanwhile it was $1.62 at the Wal Mart/Murphy station in beautiful downtown Festus MO, mile marker 175 on I-55, south of St Louis.

I think many people misunderstood what the $70 and $110 numbers represent. They are not cost of production they are the price required for the respective governments to maintain their current spending without having to borrow money or increase production. Even at $40 a barrel both Iran and Russia make money on the oil they pump they just don't make enough money to pay the bills. Since neither country can borrow much money on the world financial markets they will have to cut spending.

Tim

[OnceFired]

$1.57 was the lowest I've seen here in Austin, TX area. It's already back up at $1.69 at the same station. At least it's under $2.00!!

[bikerbeans]

In northwest Ohio last Thursday I saw gas for 1.639 per gallon and then on Friday a refinery a couple of hours south of me had a bit of a problem. Small explosion, no one killed, and wouldn't you know it gas immediately went up 35 to 50 cents a gallon. Prices have now dropped back down to the 1.85 to 2.05 range.

BB

[skeet1]

I bought gas yesterday here in Oklahoma for $1.67

Ken

[Ben]

$1.74 here and dropping..............

[Michael J. Spangler]

1.93 a couple day ago at stop and shop in MA

[waynem34]

1.89 here.

[dragon813gt]

I heard on the radio this morning that it is expected gas will go down to $1.25 per gallon.

I will never see that price. If I do then most of the country will be paying under $1. Down to $2.38 this morning. Come on $2 :screwey:

[dilly]

How come you have such high prices in SE PA dragon813gt? I think I saw $1.639 today.

[dragon813gt]

You tell me why? We have a $.70 a gallon tax which is second only to CA. Even w/ this we aren't trending w/ the rest of the country. It's really starting to bother me because it makes no sense. I know the gas stations are told what to charge by corporate. Conspiracy to keep prices high here because people can afford it? Don't think so because the gas is cheaper along the Main Line. It's still down a bunch which makes me happy. But we're not following the trend at the same rate.

[fatelk]

It's not just you. Where I'm at in Oregon I just paid 2.35 and I think that was about the cheapest in town. Last year we took a road trip to the Midwest and the price of gas varied dramatically, with home being the most expensive.

[Errokk]

$1.84 in Mckenzie TN

[MtGun44]

$1.73 for a fill up this morning in Kansas near KC.

Bill

[Bad Water Bill]

Since this price seems to be exceeded should we start a new page for $1.50?:bigsmyl2:[smilie=w:[smilie=w:

[gandydancer]

$1.85 here in south west Virginia.

[trapper9260]

$1.85 here in NE Iowa

[Ribsyj]

$2.39 northeast pa

[Echo]

A Dollar 85 all over Tucson, on 1/14/15...

[Boolit_Head]

I tanked up at 1.61 last night. It still seems to be trickling down around here.

[gwpercle]

Last week I filled up for $1.66 in Baton Rouge. Can't wait to see what is is next fill up.
I swear , as I drove away from the pumps in my 1968 Malibu, I heard the Twilight Zone music, (Rod Serling TV show) playing...things are getting creepy.
Can't remember the last I filled up for $20.00 !

[FLHTC]

You tell me why? We have a $.70 a gallon tax which is second only to CA. Even w/ this we aren't trending w/ the rest of the country. It's really starting to bother me because it makes no sense. I know the gas stations are told what to charge by corporate. Conspiracy to keep prices high here because people can afford it? Don't think so because the gas is cheaper along the Main Line. It's still down a bunch which makes me happy. But we're not following the trend at the same rate.

And there is a refinery in Baltimore so it can't be freight costs. The tanker trucks that fill up aren't specific to one company either. They all get it out of the same line but the stations all have different prices. If this price decline is an effort to pressure Russia's economy, why wouldn't the government lower prices for their own people, long before Russia was misbehaving? We are not allowed to have more buying power. The federal government taxes us and forces us to pay to make corporations wealthy. We are manipulated to think things are bad for us, like eggs. Back when the poultry farmers wouldn't back LBJ when he campaigned for the 64' election, his cabinet devised the food pyramid, which made too many eggs unhealthy. Now we can mysteriously have as many eggs as we want and they aren't harmful. We are manipulated to think that we should be medicated for every condition under the sun, rather than change our diet and behavior. This in turn drives the economy in the pharmaceutical and medical community. It's all BS and the American public is standing in line to hear more of it.

[Bad Water Bill]

Over 40 years ago I worked at a Sears where we were selling almost 3 million gal of gas a year so we had no name tankers coming in every day.

One day out of curiosity I asked a driver what was the difference between what we sold and the brand name gas down the street.

"When we pull in we add a 5 gal bucket of additive for that particular brand" was his answer.

It could be very different today.

Someone here may be able to provide more information.

[dragon813gt]

It's not. The additives are added by the individual companies. Fuel oil is what cracks me up. Every company charges a different price. But they fill their trucks up at other hubs if necessary. Which when it's cold is quite often. This blows the "our oil is higher quality" scam to bits :laugh:

[Bad Water Bill]

It is called "salesmanship" my friend.

What the sheep do not know will not only shrink their bank account BUT also fatten ours.:twisted:

[Echo]

All the gasoline that comes in to Tucson comes from one refinery in El Paso. Or at least it used to. Individual companies add their own additives...