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No-with the amount of tax placed on it and the greed from Exxon and the like, as soon as it finds it's spot which looks like now, those pennies will stop coming off at the pump. Notice how crude has come down another $10 a barrel and the price at the pump has not moved more than 5 cents in the past 2 weeks. It appears to me they're trying to hold at $1.51-1.60 reg. here in Md. Actually it should be no more than $1.15-1.25. I believe unless it goes into $30's per barrel(crude), the shaving has stopped or atleast is grinding to a halt.
And if it up swings anytime soon, say $50+ a barrel, even before they put that gas in their station tanks the price will rise. I've noticed this pattern, come down to a point, hold, then wait for crude to rise,rise prices at the pump nearly simultaneously. Effectively never letting the consumer get the price he/she should have, and raising prices quickly to add more profits.
It's going to be next to impossible for some places to get below a dollar per gallon just due to federal and state taxes. The national average for taxes is 48.4 cents per gallon, with four states (California, Connecticut, Illinois, New York) have 60 cents or more per gallon in taxes. There just isn't enough room anymore to allow the price to drop below $1.00
And in case you were wondering how your state compares, head on over to this site:
well if it does, the Oil companies will find a way to add mor evaporative additives to our fuel, that way it will burn and evaporate faster so we'll end up going back often to the pumps.
I remember a couple of years back my wife did a fun run. I wasn't able to run with her (bad knee at the time) but went anyway to support her. Afterward they had all these booths giving away freebies and such. At the Exxon booth this guy was doing give a ways via questions along the lines of "When did Hawaii become a state?" (amazing how long it took to get that answer, I whispered it to the kid next to me and she got the prize) to how much ethanol is added to our gasoline, which everyone knew was 10 percent. After he gave out numerous prizes for that one he proceeded to say "Hawaii makes us do this, but it's okay, your cars get worse fuel mileage and we end up selling more this way!" with a big old smile on his face. And nobody seemed to care (except me, who gave him the official "Are you kidding me?" look.)
If it does, you'll see a mass migration of North Americans (wisconisn, minnesota, michigan, north dakota, etc.) to new mexico's sun, blue sky, sand and rocks.
I could see it happening, but we should still drive like gas is $4.50 a gallon. It'd be nice if Americans would learn how to hypermile, make sure those tires are properly inflated, and drive only if necessary.
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