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Offline osage outlaw

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Gas prices
« on: January 19, 2016, 02:18:20 pm »
I'm not sure why gas prices keep dropping but I hope they keep going.  Driving to the Classic and Marshall will be easier on the wallet this year if they stay down.  It's $1.55 a gallon in my area.  I read that it was under $1 in some areas of Michigan.
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Offline bow101

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Re: Gas prices
« Reply #1 on: January 19, 2016, 02:21:29 pm »
You dont know... :laugh:  The barrel is below 30 bucks. Lowest in 13 years.  In some parts of Canada its roughly .97 cts a litre.  In American gallons that is about $4. And we are ecstatic at that price.    >:(
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Stringman

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Re: Gas prices
« Reply #2 on: January 19, 2016, 02:23:58 pm »
I was driving in Corpus Christi in '96 and remember seeing it below $1. Never thought I'd see it under $2 again, but I'll take it!
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Offline E. Jensen

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Re: Gas prices
« Reply #3 on: January 19, 2016, 02:30:45 pm »
People blamed Obama for high gas prices.  Are they going to praise him now that they are low?
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Offline osage outlaw

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Re: Gas prices
« Reply #4 on: January 19, 2016, 02:37:52 pm »
It seems like the prices drop whenever a presidential election is getting close. 
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Offline bubby

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Re: Gas prices
« Reply #5 on: January 19, 2016, 02:45:16 pm »
Sure does Clint, $2.35 here
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Offline MWirwicki

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Re: Gas prices
« Reply #6 on: January 19, 2016, 02:55:55 pm »
Yep, typical of election years.  I haven't seen $1 yet, here in MI but, I haven't ventured too far away from home as of late.  $1.57 last night on my fill up.
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Offline caveman2533

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Re: Gas prices
« Reply #7 on: January 19, 2016, 03:04:54 pm »
Guaranteed they will go back up after the election. It happened like that the last presidential election. $1.99 is the lowest I've seen in PA.  Thanks to a .50 gallon tax our last governor gave us.
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Offline JEB

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Re: Gas prices
« Reply #8 on: January 19, 2016, 03:34:36 pm »
I think fracking brought the prices down now  with so much oil available.  $1.69 here.  There was a place somewhere here in Michigan that had a gas war going on and gas was under a dollar for a short time but it went back up.
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Offline Wolf Watcher

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Re: Gas prices
« Reply #9 on: January 19, 2016, 04:09:53 pm »
In the early sixties I was on a scholarship at a Jr. College in Grand Junction, Co.  I had a nice 57 Olds that got 21 miles to the gal.  It sat by the curb for almost a semester because gas was too high (36 cents a gal)!  There came a big gas war and gas got down to 10 cents a gal.  I ran out and fired up the 98 and went to by some gas.  I bought a dollars worth because that's all I had!  Joe
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Offline E. Jensen

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Re: Gas prices
« Reply #10 on: January 19, 2016, 04:21:53 pm »
True.  $1.30 when Bush was on his way out.  Goes down around this time of year too I think.
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Offline JW_Halverson

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Re: Gas prices
« Reply #11 on: January 19, 2016, 05:59:09 pm »
Quote from: Wolf Watcher on January 19, 2016, 04:09:53 pm
In the early sixties I was on a scholarship at a Jr. College in Grand Junction, Co.  I had a nice 57 Olds that got 21 miles to the gal.  It sat by the curb for almost a semester because gas was too high (36 cents a gal)!  There came a big gas war and gas got down to 10 cents a gal.  I ran out and fired up the 98 and went to by some gas.  I bought a dollars worth because that's all I had!  Joe

In my late 20's I went back to college.  I pared everything down to the most basic and bought a Ford Courier pickup for $300 (build by Mazda).  As each semester went on, the amount I spent on gas each week got less and less.  One day I went in with a handful of change to buy fuel and the clerk asked me if I was trying to wean the poor thing!!!
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Offline PEARL DRUMS

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Re: Gas prices
« Reply #12 on: January 19, 2016, 09:04:02 pm »
Mmmm Mmmmm.....Im lovin' it.

They had a price war north of me a few hours. I believe several were in the .40 cent range, no joke.

J-dub you were alive in the last 20's? :) You look good man.
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Offline Knoll

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Re: Gas prices
« Reply #13 on: January 19, 2016, 09:46:52 pm »
Yeah, we are paying approx $1.58 lately and wouldn't be surprised if goes lower.

Crude oil accounts for approx half the cost of gas. Bottom has fallen out of crude prices. Oil is trading now at near $43 a barrel. Last summer, price was $100 a barrel. Oil is bought and sold on world markets and largely driven by supply and demand.

Supply is currently through the roof. Surge in production from American shale producers has led to a massive glut of oil. OPEC continues to pump record amounts.

Demand is diminished. Economies in Europe and Asia are barely growing and emerging markets in Latin America are stumbling. Growth in China has slowed dramatically. Economies need less oil when they cool off.

Low gas prices are not entirely good news. Oil production in N Dakota has crashed resulting in massive layoffs.  And municipalities up there will be impacted as tax revenues dry up.

But must admit am enjoying these prices, while they last!
« Last Edit: January 19, 2016, 09:58:31 pm by Knoll »
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Offline Pappy

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Re: Gas prices
« Reply #14 on: January 20, 2016, 04:22:58 am »
I didn't fuss about Obama when they were high and sure ant going to praise him because they are low. ??? ::) Got way more things than that to fuss about. ;) :) Wooo Pappy ,slippery slope. ??? ;) ;D ;D That being said I love the low price ,we saved $650,000.00 + this year alone in fuel prices on the fleet I manage, it sure makes life easier when you need  to buy something with a wind fall like that. ;)  Now next year might be another story. :)
 Pappy
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