Gas is $1.97!!!!

[S. C.]

I paid $2.14 yesterday. Then I saw a station for $2.12.

 

[sunnymommy]

1.87 in SC

 

[brerrabbit]

FYI Missouri pays $.17 per gallon state tax on gas plus the fedral tax of $.198 per gallon. The average tax on a gallon of gas in the US is around $.40. A few states like New York and Florida pay much more. Gas prices have dropped because crude prices have fallen some but more importantly demand has decreased significantly. Gas prices here are averaging $2.05 a gallon and that is a $.63 reduction in the past month. Understand that the wholesale price that retailers pay for their gas has been dropping for over a month. A lot of the lower prices you are seeing at the pumps are the independently owned (not owned by Exxon, Shell, Amoco) stations dropping their prices because their local competitors are dropping in price and they have to follow to keep selling fuel. Also keep in mind that over 90% of the retail stations in America are owned and or operated by independents who set the price at the pump.

 

[Galahad]

Unfortunately, because market conditions cannot completely explain why prices are dropping so rapidly, this just gives the ones hypothesizing about a oil prices/election link some ammunition.

But why can't market conditions explain it? Absent a hurricane and such, prices always drop this time of year - sometimes a little, sometime a lot. Those articles simply making an assertion that the market doesn't explain it doesn't make it so, IMO. Grand conspiracies are generally complete bunk. But it's disturbing when intelligent people seem to buy into the most ridiculious of them. The economy is slowing all over the world. It's cyclical. A slower economy can't support higher prices. OPEC wants to reduce output to keep prices up. Oil companies don't control oil prices. The grand conspiracy doesn't add up to me.

My personal opinion - it is a little bit of everything. Market conditions, lower demand this time of year, and a dash of politics thrown in.

Not sure I buy the "politics" but I think generally you're right here.

 

[jen0610]

Was 1.99 Monday and Tuesday morning. By Tuesday afternoon, it went up to 2.15. Wednesday moring it was up to 2.25 and stayed there, until this morning and some stations have it back down to 2.15.

It's crazy. I need gas, but I'm only going to put 10 bucks in the tank, cause I'm betting the price will drop again this weekend.

 

[CarolG]

The posted price at Kroger this morning was $1.96, but with the store's discount, I paid $1.86!

 

[SeeDisney]

Over here in Delaware it's @2.27 a gallon.


Any reason for the low in price???