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Author Topic: Gas Prices in your area Bobby Henderson "Ask me about Trajan." Posts: 10973 From: Lawton, OK, USA Registered: Apr 2001 posted 11-21-2008 12:34 AM                     quote: Oil overnight went down to $48 a barrel. Not that long ago it was at $150+ per barrel! True (to be exact, the record was $147 per barrel). OTOH, it was back in 2004 when crude oil had traded above $50 per barrel for the first time ever. 4 years is a bigger span of time than 4 months, but 2004 is still fairly recent history. BTW, 87 octane gasoline dropped to $1.71 per gallon today here in Lawton. Diesel is still commanding a near $1 premium ($2.69 per gallon).  |  IP: Logged Chris Slycord Film God Posts: 2986 From: 청주시, 경북도, South Korea Registered: Mar 2007 posted 11-21-2008 09:56 AM                     This morning news people said the average in Houston is $1.81 per gallon whereas the national is $1.88  |  IP: Logged Bobby Henderson "Ask me about Trajan." Posts: 10973 From: Lawton, OK, USA Registered: Apr 2001 posted 11-21-2008 12:55 PM                     Another price drop today in Lawton. 87 octane is selling for $1.67 per gallon. I wonder if we'll see prices in the $1.59 and lower range by this weekend.  |  IP: Logged Sam Graham AKA: "The Evil Sam Graham". Wackiness ensues. Posts: 1431 From: Waukee, IA Registered: Dec 2004 posted 11-21-2008 10:29 PM                        7:20am: Drive by QuikTrip, where gas is selling for $1.69. 7:40am: Drive by QuikTrip, and gas is selling for $1.67. 11:05am: Drive by QuikTrip, and gas is selling for $1.65. 4:00pm: Drive by QuikTrip, and gas is selling for $1.63. I suppose we'll get a Thanksgiving bump next week though.  |  IP: Logged Kurt Zupin Jedi Master Film Handler Posts: 989 From: Maricopa, Arizona Registered: Oct 2004 posted 11-22-2008 12:47 AM                     On my way to work I drive by the same gas station, Its been droping by 2 cents every day for the past couple of weeks. I drive by it today to come to work and it has droped 16 cents to $1.99. Thats the average here right now, although a few places are at $1.90 I honestly never thought I would see the day when gas was -$2 a gallon ever again  |  IP: Logged Mike Blakesley Film God Posts: 12767 From: Forsyth, Montana Registered: Jun 99 posted 11-22-2008 09:41 AM                        I think it's kind of funny -- everyone has been screaming about using less gas for years, and finally the gas got so high that people were forced to adapt so they really WOULD use less gas. So now the oil companies are lowering the price to get people to use MORE, but people feel good about having changed their ways and saving the planet, plus they can't afford to go anywhere anyway due to everything being more expensive, so now they're perfectly happy using less gas. I know I'm walking more now (and enjoying it).  |  IP: Logged Bobby Henderson "Ask me about Trajan." Posts: 10973 From: Lawton, OK, USA Registered: Apr 2001 posted 11-22-2008 10:18 AM                     The run up of oil to $147 per barrel had little to do with demand. More stock market experts are finally owning up to that. The pyramid scheme of speculation in housing was beginning to implode over 3 years ago when oil started to see the big increase. That's no coincidence. A huge amount of the money made in housing got rolled over into commodities like oil. The commodities markets were seen as a haven to protect all that wealth. Growth in China and India justifiably ran oil prices over $50 and $60 per barrel. From 2004-2008 we saw oil prices triple. The world's population or level of oil use did not triple during that time. Likewise, the oil bust taking place now has removed $100 off the price of oil in just four months. Demand for oil has been dropping for many months now, but only in incremental, small levels. Oil's run up to $147 was all because of a speculative bubble. It will be difficult for oil to reach those highs again anytime soon. People have indeed changed their driving habits and changed the kinds of vehicles they drive. Insanely high prices caused quite a bit of demand destruction. I'm just hoping the stock market can truly establish a real bottom and start working out of the that 7500-8500 point range. Many stocks are very oversold to ridiculously low levels. Some real money making opportunity is out there waiting to be had.  |  IP: Logged Mark Gulbrandsen Resident Trollmaster Posts: 16657 From: Music City Registered: Jun 99 posted 11-22-2008 12:32 PM                     This thread has now gone full circle... Gas prices are back down to what they were at the start of the thread....  |  IP: Logged Monte L Fullmer Film God Posts: 8367 From: Nampa, Idaho, USA Registered: Nov 2004 posted 11-22-2008 01:05 PM                     quote: Mark Gulbrandsen This thread has now gone full circle... Like the "StarWars" series... Now, as with "StarWars". time for episodes VII,VIII and IX with this fuel story.. People got complacent within their insecurities of needing gas guzzling road locomotives to protect them from harm along with loving having their living rooms on four wheels since fuel was cheap. But now, having the horrible and rude awakeing on having such commodies that it suddenly became a costly liability in their economical "bubble" with the sting of reality that was massively painful. Now, with fuel gradually returning to the pre-pain levels, do you think that folks want to experience that economical pain again when our Middle East friends gets another infestation, when that time does occur, to shoot oil prices back up to insane levels? This time, I do believe this and our next generation will be more better aware and prepared for this approaching outcome. Detroit needs to suck it up, get those "chips" off their shoulders and get to the drawing boards to desgn and make the "green" vehicles that this country really needs..and for their survival. -Monte  |  IP: Logged Bobby Henderson "Ask me about Trajan." Posts: 10973 From: Lawton, OK, USA Registered: Apr 2001 posted 11-22-2008 05:07 PM                     I'm not so sure the automakers in Detroit are even going to survive long enough to get a new generation of fuel-conscious vehicles onto the roads. The cost of their operations is burning through so much cash the end of their life span may be only a few months, or in the case of GM a few more weeks. Ask any average person on the street to name some defunct investment banking firms and few will be able to conjure up names like Bear Sterns or Lehman Brothers. They might know the name "AIG" but not be able to explain what the company does. Everyone knows brand names like Chevrolet, Cadillac, Ford, GMC, Dodge, etc. Those trademarks are household names that have existed for decades. If or when they vanish it will have a very chilling effect on the psychology of this economy. There's the specter losing millions of jobs attached directly to those industries. The death of several major American brand names may cause a paranoid drop in consumer spending and lead to even more job losses. 70% of our economy is driven by consumer spending. High fuel prices ruined part of the love affair Americans have had with driving cars. With no more American car industry the country's car culture would be even further diminished. Asian and European auto makers are not going to sell very many cars to Americans if Americans don't have quite so much enthusiasm about them anymore. BTW, 87 octane gasoline dropped to $1.59 per gallon here in Lawton today.  |  IP: Logged Louis Bornwasser Film God Posts: 4441 From: prospect ky usa Registered: Mar 2005 posted 11-22-2008 07:16 PM                        $1.649 at Costco in Louisville, tonight. We're "reformulated" so it's all Ashland gas, the only source in the East no matter what station you go to. Gas is bartered. Louis  |  IP: Logged Bill Enos Film God Posts: 2081 From: Richmond, Virginia, USA Registered: Apr 2000 posted 11-22-2008 09:40 PM                     Today $1.47  |  IP: Logged Monte L Fullmer Film God Posts: 8367 From: Nampa, Idaho, USA Registered: Nov 2004 posted 11-22-2008 11:24 PM                     Wow..we finally dropped below the two buck mark here in Nampa. $1.95 at our local Costco store. Conv. stores finally hit $1.99 ... ..sickening to hear less than a buck and a half a gallon in the Mississippi/Midwest area..  |  IP: Logged Bill Enos Film God Posts: 2081 From: Richmond, Virginia, USA Registered: Apr 2000 posted 11-23-2008 08:55 PM                     That $1.47 place was $1.69 today  |  IP: Logged David Stambaugh Film God Posts: 4021 From: Eugene, Oregon Registered: Jan 2002 posted 11-23-2008 10:15 PM                        Costco $1.75 today. There are quite a few places around town under $2 now.  |  IP: Logged

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