LAT: Demand for Fuel Seems to Be Falling

[DeepModem Mom]

Demand for Fuel Seems to Be Falling
Drivers are tired of high prices, some analysts say. A spot check shows many car owners are conserving or shifting to public transportation.

By James F. Peltz and Claire Hoffman, Times Staff Writers


Hello, tipping point? Drivers' demand for gasoline appears to have downshifted since Hurricane Katrina sent pump prices soaring above $3 a gallon across much of the nation.

Katrina initially sparked panic buying, sporadic shortages and televised images of long lines at some service stations. Then consumers pulled back as prices hit record highs, analysts said Thursday.

"America topped its tanks, and then the knee-jerk reaction was, 'I'm not going to pay $3.19 a gallon for gas,' " said Tom Kloza, chief analyst at Oil Price Information Service, an energy research firm.

Demand was likely to taper off anyway because the Labor Day weekend marks the unofficial end of the busy summer driving season. In addition, gas prices already were at or near record levels even before Katrina hit Aug. 29.

In the aftermath of Katrina, at least one gasoline seller reported a 15% drop in sales over Labor Day weekend compared with a year earlier, Kloza said....


http://www.latimes.com/business/la-fi-energy9sep09,0,7564249.story?coll=la-home-business

[slor]

1. Good...

we need to move to better, and green methods of transportation.

[Dr Batsen D Belfry]

2. Anectodal evidence

1) The roads around us were nearly empty during most of the holiday weekend.

2) The local mall had 1/2 the number of cars over the holiday weekend as normal

3) Generally, people in our area are driving much slower, and there are fewer cars on the road.

4) My father-in-law's employer has told their sales force to plan on being in the office instead of on the road one day a week. THis is until further notice.

DBDB

[CabalPowered]

3. I've also noticed people driving slower

Things were still pretty busy over the weekend but average speeds and accelerations have slowed.

[yppahemnkm]

4. Gas is still over $3.00 a gallon here.

[BiggJawn]

5. Indeed!

Why, it was $3.50 on Labor Day, and the next morning it was magickly down to $3.10...

And now it's at $2.99

"Busy summer driving season"? Like I go to work and the grocery store MORE in the summer than I do in the winter?

Where's that "bullshit" emoticon when you need it?

[gasperc]

6. I watched gas go from $3.39 to $2.99 in two hours

while I was in vacation in Ludington, MI we passed gas stations with $3.39 gas on our way to the campground. On our way back to get groceries we saw gas at $2.99 and filled up. It was weird.

[Dr.Phool]

7. No kidding?

I topped off my tank last Thursday, and haven't started my car since then.

But you want to see a another real rip-off? Check this out. If you use a debit card to buy gas at the pump, some stations are putting a $75.00 hold on your account. Only have $72.00 in your account? How about a nice overdraft charge.

http://www.sptimes.com/2005/09/09/Business/Gasoline_buyers_say__.shtml

(snip)

When customers use a debit card to pay at the pump, some gas companies and banks put a financial hold on their bank accounts for as much as $75 even though the purchase may have been for much less. The hold is released when the transaction clears, which usually takes only a day or two, but can take up to three business days. During that time, customers are denied access to their money.

Heather Leinen said she ended up with a $75 hold on her checking account after buying $25 worth of gas at a Hess station on Hillsborough Avenue in Tampa. The big problem: She only had $72 in her account. She said AmSouth Bank charged her a $32 fee for insufficient funds and said "there is nothing they can do to help."

Mary Ann Ryan managed to incur a $225 hold at a Spring Hill Hess station through what she termed a "comedy of errors." After swiping her debit card, she realized she couldn't read the screen on the gas pump and drove to another pump. She swiped the card again, then realized after pumping 41 cents worth of gas that she had chosen the premium nozzle. She swiped the card again and bought $14.76 worth of regular gas.

(snip)

[TheCowsCameHome]

8. If the economy takes a hit because of high gas prices, Bush won't look so

cocky, will he?

Mr. Big Business will have some answering to do to his minions.

[LostinVA]

9. Okay, get THIS evidence of Katrina/Labor Day gouging

This morning, the station I sue as a price bellwether was $3.29 at 6:20 am (has been this since Monday); TWO HOURS later a coworker stopped and got gas there... for $2.89. OMG... these people are so obviously corrupt, it makes me SICK. It should be at least a dollar cheaper than that.....

[slampoet]

10. Around here...

There have been a few people putting pull ties and even padlocks on the premium pumps of stations that charge too much.

It disables the pumps for a little while and DEFINITELY affect profits

[Kolesar]

11. I love it!

There are only a few cars that need premium. In any other car it is wasted. It takes more oil to make premium, and there is *no* mpg boost.

[leesa]

12. And how are the few remaining manufacturers faring, I wonder, with those

fuel prices?