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The Library => Haley Center Basement => Topic started by: Jumbo on October 23, 2013, 06:39:46 PM
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http://www.nbcnews.com/business/drivers-could-see-gas-below-3-gallon-soon-8C11450020 (http://www.nbcnews.com/business/drivers-could-see-gas-below-3-gallon-soon-8C11450020)
Drivers could see gas below $3 a gallon soon
Sharon Epperson , CNBC
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3 hours ago
Gas prices are dropping, and drivers in some parts of the country could soon see it fall below $3 a gallon.
Kevork Djansezian / Getty Images file
Gas prices are dropping, and drivers in some parts of the country could soon see it fall below $3 a gallon.
Good news for consumers: gasoline prices are falling fast as oil prices plummet.
RBOB gasoline futures — which are traded on the New York Mercantile Exchange — plunged to $2.57 a gallon Wednesday morning, the lowest price since November 2012. Gasoline futures, which have slid 5 percent in the past week alone, have an even greater impact on prices at the pump than crude oil prices.
"It's fourth-quarter demand. There's always less demand for gasoline at the end of the year and that's what you're seeing. Plus there's plenty of supply of gasoline — and oil," said trader Anthony Grisanti of GRZ Energy and a CNBC contributor.
The national average for retail gasoline is $3.34 a gallon, down 4 percent, or 13 cents, from a month ago, according to AAA. In 10 states, prices are below $3.25 a gallon on average — and many drivers in Oklahoma, Missouri and Texas are paying less than $3 a gallon, according to GasBuddy.com.
"Drivers in nearly half the country could soon find gasoline prices at the pump below $3 a gallon," says Tom Kloza, chief oil analyst at GasBuddy.com. "This is the other shoe dropping. Since September, we saw gasoline prices lose ground even though oil prices were congesting. Now that crude oil prices are dropping, we could soon see retail gasoline prices at the lowest prices since the Arab spring in February 2011— below $3.20 a gallon for the national average."
The benchmark U.S. oil price is at the lowest level since July. West Texas Intermediate crude futures hit a session low of $96.16 a barrel, sinking 4 percent in 3 days.
U.S. crude oil inventories have risen sharply since Oct. 4 as refineries have slowed processing, due to seasonal maintenance operations and domestic oil production that continues to rise. Meanwhile total demand for oil and refined products has dropped to the lowest level since June.
:thumsup:
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Shit, now I can afford the fuel to drive to Mountain Brook and give them high class blow jobs!
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It just went from $3.07 to $3.15 a gallon in Pell City in the last 3 days.
We're doing it all wrong over hurr.
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It's been $2.89 in Houston for about a month.
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I thought I would never see the day I would be so glad that gas would go down to $3 a gal.
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I thought I would never see the day I would be so glad that gas would go down to $3 a gal.
We have been conditioned to think this way.
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Saw a stat that said the last time Tennessee beat Alabama, gas was $1.91 in Knoxville.
I remember when $1.91 was too high for gas.
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It's been $2.89 in Houston for about a month.
I noticed this on our trip back from College Station. Made sure to fill up.
"It's fourth-quarter demand. There's always less demand for gasoline at the end of the year and that's what you're seeing. Plus there's plenty of supply of gasoline — and oil," said trader Anthony Grisanti of GRZ Energy and a CNBC contributor.
Does this not seem bass-ackwards to you guys? Isn't Thanksgiving/Christmas the most travel-heavy two months of the year?
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I noticed this on our trip back from College Station. Made sure to fill up.
Does this not seem bass-ackwards to you guys? Isn't Thanksgiving/Christmas the most travel-heavy two months of the year?
I think those are travel heavy days, but June through August are travel heavy months.
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I think those are travel heavy days, but June through August are travel heavy months.
That and the fact that you've got many families with younger children who will stay home or only travel nearby for the majority of the holidays, whereas they'll have a family trip planned to a location that is further away for the summer months. Probably the same with older people...they'll get out more in the summer than in the winter, even though two major holidays are in winter.
Also, there's a seasonal gasoline transition between summer-grade fuel and winter-grade fuel. The difference is in the additives used. Summer-grade fuel is always slightly more expensive than winter-grade fuel due to the price of the ingredients, as well as the fact that the refineries have to have a brief shutdown before being able to process summer-grade fuel.
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We have been conditioned to think this way.
Yep!
That's the whole goal. Raise it a lot, lower it a little. It's a tricky loop. Some commodities traders should be hung by the testes satchel.
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It just went from $3.07 to $3.15 a gallon in Pell City in the last 3 days.
We're doing it all wrong over hurr.
Did it out here too. Was at $2.95, shot up to $3.15 late last week and is now back down to $3.02.
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We have been conditioned to think this way.
Yep!
That's the whole goal. Raise it a lot, lower it a little. It's a tricky loop. Some commodities traders should be hung by the testes satchel.
Stay cute you damn conspiracy nuts! Totally agree, it will dip to about $2.75 and then start going up again.
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$3.55 yesterday down here in God's waiting room.
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3.06 near Auburn today.
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$2.85 North of Dallas.
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$3.02....somewhere. I saw it the other day. Just can't recall if I was here or in North Carolina.
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Miss me yet?
(http://25.media.tumblr.com/tumblr_lznor8Y2Al1qf10tro1_400.jpg)
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Miss me yet?
(http://25.media.tumblr.com/tumblr_lznor8Y2Al1qf10tro1_400.jpg)
You know this picture implies he fucked up and caused the problem...right?
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You know this picture implies he fucked up and caused the problem...right?
CPI doesn't lie and yes, some of his policies did affect prices, but the problem with the petrodollar started in 1974 with Kissinger and Nixon.
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CPI doesn't lie and yes, some of his policies did affect prices, but the problem with the petrodollar started in 1974 with Kissinger and Nixon.
Or that commodities traders manipulate prices.
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Electric Charging stations are free in Oregon.
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$3.05 in the salty ham
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Or that commodities traders manipulate prices.
Or geopolitical events such as wars in the Middle East.