Gas prices in my area at $2.07?

General discussion.

Moderator: Forum Moderators

Mr_N_Pants
Corporal
Corporal
Posts: 189
Joined: Sat Nov 04, 2006 1:30 pm
Location: Gonzales, LA
Contact:

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

We had a station yesterday at $1.71.

User avatar
hwsb
Sergeant
Sergeant
Posts: 413
Joined: Sun May 07, 2006 11:05 am
Contact:

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.

User avatar
Nard
Staff Sergeant
Staff Sergeant
Posts: 559
Joined: Thu Mar 30, 2006 11:35 pm
Location: Akron, Ohio
Contact:

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

Looks like I win! $1.57 here in Ohio :D
Image
Image
Signature by [IX]AnnaBeaver

User avatar
Archangel
Master Sergeant
Master Sergeant
Posts: 783
Joined: Sat Jul 07, 2007 11:04 pm
Location: Asskicker in Heaven
Contact:

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????
Image

Big_Meat
Private
Private
Posts: 45
Joined: Sat Mar 03, 2007 12:26 am
Location: Up in your crib, eatin' your food.

Re: Gas prices in my area at $2.07?

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.
Gibbins
The artist formerly known as Big Meat

User avatar
Archangel
Master Sergeant
Master Sergeant
Posts: 783
Joined: Sat Jul 07, 2007 11:04 pm
Location: Asskicker in Heaven
Contact:

Re: Gas prices in my area at $2.07?

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.
Image

User avatar
slayerdrango
UT2004 Server Admin
UT2004 Server Admin
Posts: 44
Joined: Sat Sep 06, 2008 9:24 pm
Location: Minnesota

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

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

User avatar
DeathBringer
Corporal
Corporal
Posts: 251
Joined: Fri Mar 03, 2006 3:34 pm
Location: The Terrible State (New York)
Contact:

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

User avatar
BaronVonRotterdam
UT2004 Server Admin
UT2004 Server Admin
Posts: 2603
Joined: Thu Feb 16, 2006 9:42 pm
Location: The Terrible State (New York)
Contact:

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!
| ASRock Fatal1ty X470 | AMD Ryzen 3700x @Stock | 32GB DDR4 3200 mHz | Zotac GeForce RTX 2060 Super | Dell S2417DG |

User avatar
Von_Kill_You
Specialist
Specialist
Posts: 81
Joined: Thu Aug 31, 2006 10:38 pm
Location: St. Louis
Contact:

Re: Gas prices in my area at $2.07?

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!!!!!
Von_Kill_You is my Name in the game.

Post Reply

Return to “UT2004 General Discussion”