Gas Under $3.00??

[TC]

Seems like in the next few weeks we might see it......

But Hoffman did make a prediction of something that could jump-start the economy.
Get ready for a gallon of gas that has a first digit of a 2, he said.
We’re going below $3 in the next few weeks probably, Hoffman continued. So that will be a welcome sign for consumers.

http://www.msnbc.msn.com/id/44633763/ns/local_news-phoenix_az/

Oh how we can Dream...........

[Mater]

belive it when i see. the oil companies would hate to loose there profits

[Beagle]

it was aroud 2.50-270 when they started this sh*t up again, run it up to 4.00 and then back down to three, and we are happy it's only three. Bread won't come back down. This really irritates me because I can remember the great gas war of 1970 and .19 / gal all over the place. I literally bought bread for 5 cents a loaf.

I'm NOT that old. Okay, maybe a little old.... but one thing I do remember from grade school. Water will cost more than gasoline. I scoffed at the time. We're there now.

[SpiderGearsMan]

a bit of an oil glut

[SuperBuickGuy]

belive it when i see. the oil companies would hate to loose there profits

2 reasons I don't think that's true:
1) they make the same percentage profit on fuel no matter what the cost of oil
2) they have frequent flier miles to Washington every time gas sneezes.... if there were ever any proof that the oil companies colluded on the price; the Congresspersons would probably nationalize the oil companies - amazing that's a possibility, but times have changed.

[Russell]

2 reasons I don't think that's true:
1) they make the same percentage profit on fuel no matter what the cost of oil
2) they have frequent flier miles to Washington every time gas sneezes.... if there were ever any proof that the oil companies colluded on the price; the Congresspersons would probably nationalize the oil companies - amazing that's a possibility, but times have changed.

I agree with #1, and the first part of #2

[STINEY]

I've some pristine real-estate and a few bridges to sell, right after you finish budgeting for the "cheap" fuel that's coming down the pipe......

Nutso media STILL thinks they can influence reality with a few words.

[Thumpin455]

They released some from the strategic reserve a few months back, now it is having an impact, also the kids are back in school so most people arent traveling anymore. Sure that travel creates demand, but it is also an opportunity to raise prices a bit and make a little extra.

I seriously doubt we will get sub $3 gas here, when everyone else was talking about sub $3.50 gas we never got under $3.79.

[milkovich]

Gasoline is probably the only commodity on earth traded in a volume that you just can't cheat economics on. (nevermind the part about road taxes which will go up if we buy less).

The price of gas is based on demand. When we're all broke and jobless, demand is down. When we're fat and happy and driving to the mall, gas is expensive. When the dollar takes a shit, we'll all have jobs and gas will be expensive. When the dollar is strong and we buy chinese garbage at walmart, we'll all lose our jobs again, but gas will be cheap. I can't think of a single product on earth with demand as inelastic as gasoline (maybe coffee?)

Don't like the price of gas? do the same thing you do with everything else that you feel is overpriced, buy less. Don't get mad at oil "fatcats" unless you bitch about the "fat cats" making "obscene profits" selling fuel efficient or alternative energy cars.

[studemax]

They released some from the strategic reserve a few months back, now it is having an impact,

You are dreaming, sir.
There is not enough oil in the strategic reserve to run all the cars in California for a week.
It's a mere drop in the bucket compared to the amount of oil we use here in America.

Oh... and while I'm at it, people seem to have forgetten just how much stuff is made from oil. It can't all be turned into gasoline, diesel, natural gas, or other fuels, ya know. The refining process also yields products used to make nearly all plastics and many textiles and fabrics, as well as paint, detergent, fertilizers and pesticides, makeup, dyes and inks, even food additives, and so on ad infinitum. Basically, modern life as we know it would not be possible without oil we pump from the ground.

[dieselgeek]

paid $2.25 this morning, definitely headed down.

[SpiderGearsMan]

still 3.36 here in butt jersey

[TC]

paid $2.25 this morning, definitely headed down.

Cheapest around here is $3.21.......

[Beagle]

Cheapest around here is $3.21.......

cheapest gas around here... $0.99.. TACO BELL.. hahahahahaha (sorry, had to)

[Stich496]

the dow keeps dropp'n they will just move to oil futures again and barrel of oil will go up again.. as wall street don't care about anyone but themselves..
as far as oil companies and profits, it's getting cold.. they'll make it on the home heating oil..
and as far as 2.99 87 fuel.. never happen, we the people have been brainwashed into thinking 3.39 is cheap. and oil companies will see no need to go lower.. also, no matter what comes out of their mouths, those in control don't want fuel to get cheap again, as us, the car buy'n public will fall back into buy'n tanks.. the car companies also don't want low cost fuel. as it makes it hard for them to "hit" that fleet avg. when all they sell are trucks.. other countries don't have that issue as the tax the crap out of engines bigger than 2.5ltr, and/or tax the crap out of the fuel..
I know this is gonna be very very unpopular, but for new car sales to hit that new c.a.f.e. fleet rating ,the feds are going to have to tax fuel , and tax it hard .. thats the only way the car buy'n public is gonna buy these gas sip'n tin cans..
so no matter what the media say's 4-5 buck a gallon(or more) is in our future