Gas prices in my area at $2.07?

Mr_N_Pants · Post by **Mr_N_Pants** » Thu Nov 20, 2008 7:39 am

We had a station yesterday at $1.71.

hwsb · Post by **hwsb** » Thu Nov 20, 2008 3:57 pm

it has nothing to do with the elections. it has everything to do with economic forecasts. i can't stand people that are/were like "elect candidate X! they'll bring down gas prices!"

also, boobies.

Nard · Post by **Nard** » Sat Nov 22, 2008 10:17 pm

Looks like I win! $1.57 here in Ohio :D

Archangel · Post by **Archangel** » Sat Nov 22, 2008 11:57 pm

hwsb wrote:it has nothing to do with the elections. it has everything to do with economic forecasts. i can't stand people that are/were like "elect candidate X! they'll bring down gas prices!"

also, boobies.

Who said anything about elections being involved????

Big_Meat · Post by **Big_Meat** » Sun Nov 23, 2008 1:39 am

Archangel wrote:Who said anything about elections being involved????

Paintball wrote:It must be the apocolaypse, or im dreaming. How the heck can the gas be this low? I read it has something to do with the elections but its still down even after Obama won. If it goes under $2 then I wouldn't know what to do with myself. It was almost $5 here about 1-2 months ago. I hope this change stays for a long time.

There's your answer, Arch.

As for why gas prices are dropping so low, that is due to speculation related to the tanking economy, and the general phenomena of deflation (as opposed to inflation)... when oil reached it's peak price earlier this year, demand dropped, and then oil prices gradually went down until prices and demand plateaued.

...then came the market crash. The speculation around oil was that demand will not rise significantly -- if at all -- and will probably drop more since there will be so many unemployed and/or financially overburdened individuals not only in America, but around the world. So, to avoid a glut of oil and to keep the supply moving, there is no other option but to lower the price of oil -- a textbook deflation scenario. Oil still isn't moving at the rate that OPEC and the oil industry need it to, so they will continue to lower those prices until supply drops to a certain level and demand picks up to a point where they can start gradually raising prices again.

Archangel · Post by **Archangel** » Sun Nov 23, 2008 10:41 am

Big_Meat wrote:
Archangel wrote:Who said anything about elections being involved????

Paintball wrote:It must be the apocolaypse, or im dreaming. How the heck can the gas be this low? I read it has something to do with the elections but its still down even after Obama won. If it goes under $2 then I wouldn't know what to do with myself. It was almost $5 here about 1-2 months ago. I hope this change stays for a long time.
There's your answer, Arch.

As for why gas prices are dropping so low, that is due to speculation related to the tanking economy, and the general phenomena of deflation (as opposed to inflation)... when oil reached it's peak price earlier this year, demand dropped, and then oil prices gradually went down until prices and demand plateaued.

...then came the market crash. The speculation around oil was that demand will not rise significantly -- if at all -- and will probably drop more since there will be so many unemployed and/or financially overburdened individuals not only in America, but around the world. So, to avoid a glut of oil and to keep the supply moving, there is no other option but to lower the price of oil -- a textbook deflation scenario. Oil still isn't moving at the rate that OPEC and the oil industry need it to, so they will continue to lower those prices until supply drops to a certain level and demand picks up to a point where they can start gradually raising prices again.

I stand corrected......In your statement regarding "Speculation"......I think your referring to the "Futures" buyers........and that was the reason. The future buyers were mainly looking at usage in China and the Middle East. This is a portion of the stock market that needs to be simply done away with or regulated more.

Post by **slayerdrango** » Mon Nov 24, 2008 2:41 pm

Here in MPls it is $1.58 -Fricken WOW! :D

DeathBringer · Post by **DeathBringer** » Mon Nov 24, 2008 6:51 pm

slayerdrango wrote:Here in MPls it is $1.58 -Fricken WOW! :D

Ok thats it im moveing in with you! Make room! partyman

Post by **BaronVonRotterdam** » Mon Nov 24, 2008 7:20 pm

DeathBringer wrote:
slayerdrango wrote:Here in MPls it is $1.58 -Fricken WOW! :D
Ok thats it im moveing in with you! Make room! partyman

Cumby's had it for $1.99 yesterday!

Von_Kill_You · Post by **Von_Kill_You** » Thu Nov 27, 2008 7:14 pm

Paintball wrote:It must be the apocolaypse, or im dreaming. How the heck can the gas be this low? I read it has something to do with the elections but its still down even after Obama won. If it goes under $2 then I wouldn't know what to do with myself. It was almost $5 here about 1-2 months ago. I hope this change stays for a long time.

1.51 Here !!!!

one major problem.

We will have hyperinflation soon !!!

You will need to store food and put your money in commodities and physical gold and or silver.

Why do you ask?

The federal reserve is printing money like it's out of style.
Our tottal debt was 9 Trillion dollars. The federal reserve has promised to spend 7 trillion. It is insane!!!!!

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Gas prices in my area at $2.07?

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