Gas prices WILL go lower...

[ketel0ne]

I am betting gas won't go lower this week.

http://www.bloomberg.com/news/2011-0...rt-of-day.html

[VTXrider]

definitely going up this week. This is basically baked in unless your station raised prices ahead of time. You can just track the whole sale contract for April (next month) delivery to know where prices are going in the next couple of weeks. Take the contract price add a differential for taxes, transportation, and retail overhead and profit and that's your gas price 1-3 weeks out. Knowing where the price is going in 1+ months is more difficult.

[Mr. Wyndham]

We'll see.

I won't complain, either way...

[cab2g]

Don't forget the yearly winter-blend to summer-blend price hike! But I'm just going to be thankful to get my 15% winter MPG drop corrected...

[THUMPER20X]

Its all games and greed. The oil companies will grab all the money they can get away with and governments dont do anything because the tax revenue. North America needs to be drilled like Lindsay Lohan on a dump truck full of ecstacy.

[Apex Paul]

Originally Posted by VTXrider

In my view, if you go back to the early 2000s oil was 25 and everyone was happy, both producers and consumers. Everyone liked the price and the price was far.

Adjust that $25 to today. First lets assume 3% inflation for 10 year, that's about 35% and then a 65% loss in the strength of the dollar. All of these figures are approximations because I am not going back to look up specifics, but they are close enough.

If you do this you come to about $55 per barrel, this seems like a price I would be happy with.

On the other hand, I do understand that marginal global capacity is at a cost near $75 so I can see where that won't be produced without maybe $85 long term prices. I could probably be ok dealing with that. Over time Bakken oil will be more accessible with tech gains, I don't see much over $100 as sustainable currently

Hopefully the increasing demand in India and China will level out. Like you, I'd be happy if per bbl prices stayed below $85.

[Gavros 4 Life]

Originally Posted by el ess X

I certainly do.

Here's a couple of pics YEARS apart. Once when I actually worked at the gas station, and years later when we stopped in while visiting my dad. SAME gas station with the same owner, and virtually the same picture (better camera the second time, though).

First week of April, 1979 the day after I bought my then-new-to-me 1971 Olds 442.



July 2, 2008

to be fair in the first pic it is self-service after all

[patrickt]

Originally Posted by 01pewterz28

Heck I remember after 9/11 when I purchased my 01 Z/28 I paid $1.02 for premium gas for my car what I would not give for $1.00 a gal gas again. I could fill my car up for well under $20 (I filled up my 2LT/RS I paid $57 yesterday)

Sean

I remember paying about .70 back in 99. I remeber having a mustang (I know it was when I was young and dumb) and filling the tank for about 13.00. cost me 70.00 yesterday to fill my Sierra

[madman2k]

Originally Posted by THUMPER20X

Its all games and greed. The oil companies will grab all the money they can get away with and governments dont do anything because the tax revenue. North America needs to be drilled like Lindsay Lohan on a dump truck full of ecstacy.

It's not the governments job to step in. Oil companies are a business. Businesses are supposed to make money. It's called supply and demand, not games and greed. Just my .02

[mikeSS]

Originally Posted by madman2k

It's not the governments job to step in. Oil companies are a business. Businesses are supposed to make money. It's called supply and demand, not games and greed. Just my .02

that is true. but some of the problem why the price is getting high because of fear that something might happen. nothing has happen yet to affect the oil producers. so if you think about it. the same amount of gas and the way it gets here is the same as it was back when gas was under 3.00 a gallon.

[Ironheadspearo]

Originally Posted by patrickt

I remember paying about .70 back in 99. I remeber having a mustang (I know it was when I was young and dumb) and filling the tank for about 13.00. cost me 70.00 yesterday to fill my Sierra

I have been driving since 1988 and I never remember .70 cent gas unless it was a special promotion and even then I dont remember .70
in 88 it was right at 1.00 + or - a few pennies. around here in 99 gas was about 1.30 a gallon.

[Ironheadspearo]

http://www1.eere.energy.gov/vehicles...t_fotw364.html
historical costs

[patrickt]

Originally Posted by Ironheadspearo

I have been driving since 1988 and I never remember .70 cent gas unless it was a special promotion and even then I dont remember .70
in 88 it was right at 1.00 + or - a few pennies. around here in 99 gas was about 1.30 a gallon.

It also does depend on there you are in the country

[MANAWAR]

I cam remember back in the day, reg was 28.9 and prem was 32.9. How times have changed.