Gas is getting cheaper!!

[Hondamaster5505]

Hey.

Because of the talk of drilling and speculators, gas is already going down.

In my town in went from $4.15 to $3.85 and is still slowly dropping.

Speculators aren't willing to pay much for it, for the fact that demand is going down (people buying small cars) and the fact that they're even talking about drilling. They are afraid of losing money if they pay too much for it, which is why the cost per barrel is going down.


Screw Nazi Pelosi. 2 cents my @ss. How does that explain $.30 in my town?

I see gas possibly going into the low 3's if not 2's when they start drilling.

EDIT: Gas in a couple places in New Jersey is already down to $3.69

[lorenjr83]

down over 40 cents here to 3.589

[cdrookie]

talking about drilling and small cars have very little to do with the dropping gas prices...

[Ruby Soho]

i think its like 4.09 here:grr:

[trx400EXtreme]

yup, its gone from 3.95 down to 3.63 here in the past week. it will probably be back up before we know it though.:ermm:

[Hondamaster5505]

Originally posted by cdrookie
talking about drilling and small cars have very little to do with the dropping gas prices...

Do you know anything about speculators?

They buy and sell gas. When there is high demand, and low supply, fuel goes up. The speculators buy it, and sell it for a little more to make money..

More and more people have been buying small fuel-efficent cars for traveling and such, which equals less demand. Plus the talk of drilling which could quite possibly mean more supply.

So less demand + more supply = speculators are afraid to pay high prices for the gas because when they sell it, they want to be able to make money on it.

[Hondamaster5505]

Originally posted by trx400EXtreme
yup, its gone from 3.95 down to 3.63 here in the past week. it will probably be back up before we know it though.:ermm:

I don't think it will, unless congress decides to say no to drilling, then expect it to skyrocket again..:ermm:

[Hondamaster5505]

Originally posted by lorenjr83
down over 40 cents here to 3.589

wow:eek2:

[cdrookie]

the weak US dollar is one of the causes for the gas prices, which links directly to the stock market. market goes up, gas goes down and vice versa. every price change the last few years was a result of the stock market, and mainly the prices went up so the market was down.

the other big cause was chinas thirst for gas to fuel their industry. their gov't was helping pay for the gas so industry was going wild, but as predicted, the gov't got sick of paying all that money... thus their demand is going down.

all the talk about new drilling has zero effect on gas prices cause if they started today(which they actually started years ago) it'd take 4-5 years(if not more) before you'd see a change in prices.

last i heard 70% of US gas was sold to china anyways, so all this new drilling is basically not gonna help us at all.

[ZeroLogic]

Originally posted by cdrookie
the weak US dollar is one of the causes for the gas prices, which links directly to the stock market. market goes up, gas goes down and vice versa. every price change the last few years was a result of the stock market, and mainly the prices went up so the market was down.

the other big cause was chinas thirst for gas to fuel their industry. their gov't was helping pay for the gas so industry was going wild, but as predicted, the gov't got sick of paying all that money... thus their demand is going down.

all the talk about new drilling has zero effect on gas prices cause if they started today(which they actually started years ago) it'd take 4-5 years(if not more) before you'd see a change in prices.

last i heard 70% of US gas was sold to china anyways, so all this new drilling is basically not gonna help us at all.

Exactly, plus congress won't let off shore drilling.

[450rRacer22]

neverthless...im going to enjoy it while it lasts

[trxwannbe]

if they start off shore drilling right now it is projected that everything will not be online and running smoothly until 2020, also you said that 70% of us gas is sold to china, well if the volume that percentage represents goes up then our economy is taking in more money which is good and it also means that the volume our 30% represents will rise which will bring the prices down a little. as for the constant fluctuations it does tend to go with the market but its more about how the trading is done. speculators buy and sell according to what they think gas is going to be worth not how much its worth now, so they see the trends that are starting and realize that its not going to be worth as much for now but as soon as prices drop people are going to go back to using as they were before so expect to see prices rise again in a big way.

[Quad18star]

The price of gas at the pump is usually 2 weeks behind what the closing price of oil is.

2 weeks ago, oil took a dip on the market and closed at around $110 a barrel ... we're now seeing the benefits of it. But if you watch the price of oil every day, you'll see that it's steadily rising once again. Yesturday oil rose almost $6 a barrel ... mark my words, in 1 1/2 - 2 weeks we'll see another spike in gas prices overnight.

Talks of drilling and use of small cars has nothing really to do with prices. Speculators are the ones that are driving the prices. When they start predicting $200 a barrel by the end of the year, people start investing more money into the oil business . These speculators are the ones that are driving the prices sky high. I can't wait until they start throwing a few of these guys in jail .

If insider trading is illegal, speculating on the stock market should be illegal also.

[450raider]

i think all the people surrounding the gas price market are full of it and heres why, anyone remember just this spring when gas was at a steady 3.20 then within 2 months rocketed to the 4.00 mark (because it was scarce and us dollar and the saudis with all their bs excuses excuses) where its hovered for a while now (and still is)? well it seems to me if all that was true to begin with we should be well over the $6 mark by now.........so i refuse to trade my gas hog f150 foir a hybrid cause i hate tiny cars to begin with most of em today is goofy looking and how the h*ll am i gonna haul my quad(s) on a prius?

[400exrider707]

I just read that exxon mobil only made 11.6 Billion this quarter... I cant imagine why gas is so high



I cant wait til I'm running this.... only another month or so...

www.vegistroke.com

[Quad18star]

Here's a pretty interesting read.

United States proven oil reserves declined to a little less than 21 billion barrels (3.3×109 m3) in 2006 according to the Energy Information Administration, a 46% decline from 39 billion barrels (6.2×109 m3) in 1970. U.S. crude production peaked in 1970 at 9.6 million barrels per day (1.53×106 m3/d), and had declined 47% to 5.1 million barrels per day (810×103 m3/d) by 2006. This represents about an 11 year supply of oil reserves at current rates of production. United States crude oil production has been declining since reaching a smaller secondary production peak in 1988 (caused by Alaskan production).

Hypothetically, if the United States was able to produce its entire demand of 21 million barrels per day (3.3×106 m3/d) without resorting to foreign imports, existing US reserves would last only three years at the current rate of consumption.

With over 2.3 million wells having been drilled in the US since 1949, the likelihood of discovering new large oilfields is extremely slim. U.S. oil reserve numbers are very accurate compared to those of most other countries.

Because of declining production and increasing demand, US imports of oil and petroleum products increased by 400% from 3.4 million barrels per day (540×103 m3/d) in 1970 to 13.6 million barrels per day (2.16×106 m3/d) in 2006. Its largest suppliers of petroleum products in 2006 were Canada and Mexico, which supplied 2.3 and 1.7 Mbbl/d (370×103 and 270×103 m3/d), respectively.

Imports of oil and products account for nearly half of the US trade deficit. As of 2007, the Energy Information Agency (EIA) of the US Department of Energy projected that in 2007 oil consumption would rise to 20.9 million barrels per day (3.32×106 m3/d), while oil production would fall to 5.1 million barrels per day (810×103 m3/d), meaning that oil consumption would be nearly four times as high as oil production.

In April 2008, the United States Geological Survey (USGS) released a report giving a new resource assessment of the Bakken Formation underlying portions of Montana and North Dakota. The USGS believes that with new horizontal drilling technology there is somewhere between 3.0 and 4.5 billion barrels (480×106 and 720×106 m3) of recoverable oil remaining to be discovered in this 200,000 square miles (520,000 km²) formation that was initially discovered in 1951. If accurate, this reassessment would make it the largest continuous oil formation ever discovered in the U.S. However, it would represent only a five to seven month supply of oil for the United States at current (2007) rates of consumption.

A May 2008 assessment by the EIA estimated potential cumulative production of the 1002 area of the Arctic National Wildlife Refuge to be a maximum of 4.3 billion barrels from 2018 to 2030. This estimate is a best case scenario of technically recoverable oil during the area's primary production years if legislation were passed in 2008 to allow drilling

[Warnerade]

Originally posted by Hondamaster5505
Do you know anything about speculators?

They buy and sell gas. When there is high demand, and low supply, fuel goes up. The speculators buy it, and sell it for a little more to make money..

More and more people have been buying small fuel-efficent cars for traveling and such, which equals less demand. Plus the talk of drilling which could quite possibly mean more supply.

So less demand + more supply = speculators are afraid to pay high prices for the gas because when they sell it, they want to be able to make money on it. do you know anything about what your talking about?

It will take +/- 30 years for the oil they are drilling now to affect the gas prices. I highly doubt the people buying small cars are affecting it either. They are just using 15 gallons per 300miles vs 20 gallons per 300 miles. 10 gallons here and there isnt gonna effect the billions they sell. I dunno about you, but I still know a lot of people buying big trucks and SUV's also.

[mittman]

4.87 for diesel and 3.90 for regular my boss is spending almost 1,500 a week for gas

[represent618]

Read up on the Oil Reserves, bush agreed to replinish this at no bearance for oil costs. This guaranteed that x million barrles would be bought and set for reserve, driving up the demand and guaranteed that oil will sell no matter what the price.

Nearly every president, especially Clinton has used the reserve as a "bank" to help the economy. When oil prices surged, the president would allow the US reserve to be drank down. IE: not allowing the oild prices to surge and be bought, the demand dropped out of the traded oil by x %.

I am not an expert on this, but have researched a little. Very interesting how this ALL relates back to a few making billions while everyone suffers.

[mod440ex]

yes the price has dropped a little but i feel that is exactly what the oil companies are wanting. when gas was $2 eveyone was like man that terrible, but when they hiked it up to $3 everyone was wanting it to be back to $2. now that they have hike it up to around $4 or more we are ready for it to be back at $3. i think they are just sitting back and wondering how high they can put a gallon of gas and we still pay for it. i am ready for $1.50 or less for a gallon of gas.

[400exrider989]

still over 6 bucks a gallon here

[dpizz450]

been fillin up down here for $3.69 for about two weeks now at a chevron across from my work. any other place ive seen around town has been $3.89. and i think walmart was also 3.69. still bullchit, but not much we can do about it. and still better then $4.15. all ya can do is go with the flow i guess. :ermm:

[ZeroLogic]

Gas isn't getting cheaper. When it goes below 2 dollars, then its cheaper. :ermm:

[Quad18star]

Originally posted by ZeroLogic
Gas isn't getting cheaper. When it goes below 2 dollars, then its cheaper. :ermm:

Very true.

They raised the prices so high , that now when gas drops by 20 cents everyone runs to the pumps because it's "cheap". But people tend to forget that 10 months ago that "cheap" price was the skyhigh price that everyone was complaining about.

These gas companies must have psychologists working for them , because they've sure screwed with peoples minds and have made the public believe that expensive is cheap.

[krt400ex]

we were looking at 4.10, and now we are down to like 3.77 in some places near us. its making me quite happy.

[Ruby Soho]

Originally posted by Quad18star
Very true.

They raised the prices so high , that now when gas drops by 20 cents everyone runs to the pumps because it's "cheap". But people tend to forget that 10 months ago that "cheap" price was the skyhigh price that everyone was complaining about.

These gas companies must have psychologists working for them , because they've sure screwed with peoples minds and have made the public believe that expensive is cheap.

Ain't that the truth.. Everyone is all "Gas is so low!!"

Not really.. There still REALLY high

[quads14589]

3.99 here yeee haw

[400ex28]

:chinese: not much lower here

[416exfreak]

Highest ive paid all summer was 4.03 a gallon, now its down to 3.95.

I could get it cheaper if I went to Habib's station, but I prefer to keep money more in our own country. So I use PURE or SONOCO brand fuels.:)

A little more pricey, but the money is staying at home.

[pizmo 400ex]

all you guys are lucky. i still have to pay 4.41 a gallon.:grr:

[Kickstarts-suck]

Just paid 3.96 today.

Stays around 3.95-4.00 here

[416exfreak]

I dont know why im *****ing about paying $3.95/gal. for gas.

I payed $12.50 a gallon earlier for some VP U4-2. And I bought 5 gallons.

Going riding is getting extremely pricey...

[Lowcountrydave]

I'm feeling good then. At Wally worlds gas station I paid $3.51 today in Columbia South Carolina. Thats with no discount either.

Dave

[powermadd400ex]

3.67 today :D

[IOWAracer]

its a little better today $3.62 about 15 miles away its $4.20 wtf....


Broc

[blacknblue#2]

Im still payin 4.74 for the good ol #2 almost a dollar more than what ppl are paying for gas around here

[RideRed84]

I think oil companies have seen the limit they can charge before demand decreases. Now they are fine tuning to to see where they make the most money but keep demand up. I would figure it will settle around 2.75-3.25. Same thing happened in the 70's, gas went from .34 to settle around 1.25. Demand is dropping because China stock piled for the Olympics and Americans stopped excess driving and are buying more fuel efficent cars. If you think that has nothing to do with it then your a moron. US oil consumption is down 20%. I think we're coming to the darkest hour for our economy and we should rebound in 18-24 monthes so when the dollar gains value the price at the pump will drop also. I just don't see gas going over 4.50.

[quads14589]

yeah i hope it does settle around 3.50 a gallon here so then you will see more muscle cars out

[Honda TRX250ex]

good thing im getting a f150 5.4 trition tommarow!

[krt400ex]

dropped anothe .04$ overnight here

[fastredrider44]

Highest my town got to was 4.02 for reg. Right now it has leveled at 3.79.

[Hondamaster5505]

Just dropped to $3.79 here:D This is since my original post.

[450r ride red]

$3.89 in wisconsin

[yfzrider310]

3.68 in Minnesota

[csr250r]

I think its time to have my dad fill his 5,000 gallon tank for his sprayplane that he uses. :chinese: gas goes down as soon as i lose my licence lol :ermm:

[trx310R#24]

Originally posted by Hondamaster5505
Do you know anything about speculators?

They buy and sell gas. When there is high demand, and low supply, fuel goes up. The speculators buy it, and sell it for a little more to make money..

More and more people have been buying small fuel-efficent cars for traveling and such, which equals less demand. Plus the talk of drilling which could quite possibly mean more supply.

So less demand + more supply = speculators are afraid to pay high prices for the gas because when they sell it, they want to be able to make money on it.

for the most part your right but theres more to it

people are buying the oil stock when its cheap then selling it high they are not taking order on it but it still drives it up.... thats why golds up right know to.

[hoser 400ex]

seen 3.58 in central mn

[ALAMX37]

$3.55 in Central Alabama

[416exfreak]

Still 3.95 here....:mad:

[blacknblue#2]

THIER DANG NEAR GIVING IT AWAY, BEFORE LONG THEY WILL BE PAYING YOU TO TAKE IT hahahaha Ah man i crack myself up................sorry guys im stuck at work on a saturday night so i had to at least get a little entertainment out of something

I haven't seen any changes here... Still at $4.15

[Hondamaster5505]

Went down to $3.77 today:eek2:

[ohsobad_chevy]

$3.50 here. Actually filled up for under 65 bucks. :D

[Lowcountrydave]

$3.45 today!


Dave