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I don't know how you all are noticing gas prices, but with crude trading under 80.00/bbl, I would have expected refined gasoline at the pumps to be at least another 20% less. Our prices in central Alabama are among the lowest in the nation, but have been stubbornly clinging to 2.75-2.85 for regular.
I know the station owners are VERY reluctant to lower when prices are dropping, but they must be making some dough right now, as consumers are happy to see prices this low. I'd like to see if lower, as I know they are going to jack those prices up should oil turn around, as it's notorious to do.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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If you are as high as $2.85, someone is taking advantage of an opportunity to make more profits there. We have one of the highest gas tax rates in the nation (55.9 cents/gallon) yet I paid $2.69 the other day, though it's crept up to $2.87 since.
There's a lag because the inventory of gas at distributors has a higher price than the spot price. A few gas stations may charge much lower prices than competitors as a result.
I don't know how you all are noticing gas prices, but with crude trading under 80.00/bbl, I would have expected refined gasoline at the pumps to be at least another 20% less. Our prices in central Alabama are among the lowest in the nation, but have been stubbornly clinging to 2.75-2.85 for regular.
I know the station owners are VERY reluctant to lower when prices are dropping, but they must be making some dough right now, as consumers are happy to see prices this low. I'd like to see if lower, as I know they are going to jack those prices up should oil turn around, as it's notorious to do.
Anyone else with this observation?
Low gas prices would undo much of the progress made in the last few years towards taming fossil fuel consumption.
Not really since fuel efficiency has been ever increasing. It takes less fuel to travel farther now than it ever did in previous years.
Only because more expensive technology has been used. Without high gas prices people won't want to pay such premia. Or the vehicles will expand in size each year until fuel usage goes right back to where it was. Or people will move to further suburbs until it's back to where it was.
Unfortunately, the desire to burn fossil fuels knows no bounds - only financial pressure will keep it in check.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,206,701 times
Reputation: 57822
Quote:
Originally Posted by ncole1
Only because more expensive technology has been used. Without high gas prices people won't want to pay such premia. Or the vehicles will expand in size each year until fuel usage goes right back to where it was. Or people will move to further suburbs until it's back to where it was.
Unfortunately, the desire to burn fossil fuels knows no bounds - only financial pressure will keep it in check.
Do you really think gas prices are going to remain below $3 for long? They are projected to get even lower toward the end of the year, but I'd expect them to crawl back up toward the summer driving season, and any little burp in the middle east, offshore rig leak, or other production issue will cause an immediate jump.
Any time a bunch of analysts start predicting the same thing at the same time one should be suspect... analysts in unison are usually wrong... its human nature and emotionally driven.
For that reason one should be suspect of the current stock market rally... not only are we overvalued by any historical measure, margin levels are at all time highs with everybody on city-data and other forums becoming perma bulls... bragging about their gains and talking as if the good times will go on forever....
Big moves in opposite directions usually take people off guard... and many people in the financial community like kramer seem to think that high oil is good and that low oil will bring about some economic doomsday... shows how disconnected.the rich can be from the working class....
Only because more expensive technology has been used. Without high gas prices people won't want to pay such premia. Or the vehicles will expand in size each year until fuel usage goes right back to where it was. Or people will move to further suburbs until it's back to where it was.
Unfortunately, the desire to burn fossil fuels knows no bounds - only financial pressure will keep it in check.
So what you're saying is people will willingly increase their fuel consumption just because they know they can rather than continuing to save money with better fuel efficiency? Wouldn't falling fuel prices make fuel efficient cars more affordable since the processes used to make those cars also consume fuel?
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