Average gas price falls 11 cents a gallon in a week

[sabra]

http://www.usatoday.com/money/industries/energy/2006-09-11-gas-prices_x.htm

Average gas price falls 11 cents a gallon in a week

Gasoline prices continue to tumble, almost free-falling toward levels not seen in five months.

The nationwide average for regular was $2.618 a gallon, the Energy Information Administration reported Monday. That was 10.9 cents lower than a week earlier.

"The reason prices are going down so far so fast is that they shouldn't have been that high in the first place. Two reasons they were: fear and speculation," says Mike O'Connor, president of the Virginia Petroleum, Convenience and Grocery Association. It represents gasoline distributors who operate about 4,000 stations.

O'Connor says $2 gasoline "is more likely than unlikely" if the Gulf of Mexico isn't hit by hurricanes and if there isn't a flare-up of tensions in oil-producing regions.

[ClintonTyree]

1. "Fear and speculation".

And that fear and speculation suddenly disappeared? :wtf: No, ELECTIONS are near, THAT'S why prices are in a free fall!

[howmad1]

26. So now we know what the October surprise is going to be:

.99/gal. gas. And the schmuck sheeple will fall all over themselves voting rethuglican.

[customerserviceguy]

28. Maybe

it has something to do with the fact that the Israel-Hezbollah cease fire has held? The monthlong war there could very well have been a significant factor in the rise of oil prices, could it not?

Frankly, I'm quite surprised that it has taken hold, maybe the speculators didn't think it would happen, either.

[whistle]

2. Buying votes at the gas pumps

[Viva_La_Revolution]

3. OR is still at $2.85 for regular

I don't usually pay attention, since I don't feed the beast anymore, but it seems not to have changed much, if at all, for us.

[sabra]

4. hit 2.99 in N. Burbs of Chicago

was around 3.35 for awhile...

[AngryAmish]

7. paid 2.99 on Cicero Ave. in Chicago today

I drove past 2.85. I'm stupid.

[0007]

13. $2.59 in Midland Texas

[AngryAmish]

15. Are you bragging?

just 'cause you can?

[0007]

30. I'm complaining!

[dkofos]

18. 2.39 in Plano Tx

[dkofos]

17. And you can't pump your own gas.

What's up with that??

[rocktivity]

21. Can't pump your own gas in New Jersey, either.

So of course when I went to the rally in DC last year I sat in my car for five minutes like a damned jerk waiting for someone to come and pump my gas!

:rofl:
rocknation

[LostinVA]

24. Job security for the attendants -- it's a good thing

When I visit family in NJ, I always have to remember to not do it.

[Psephos]

40. Then maybe we should outlaw tractors to give job security to farmers

If I lived in NJ, I'd rather pay myself to pump the gas (or at least have the choice).

If we're going to have make-work jobs by law, then let's see the jobs reserved for those who would otherwise be unemployed.

Surely there are better ways of providing meaningful jobs than this festival of waste.

Peace.

[Frustratedlady]

5. I'm sure it will reverse itself and rise just as quickly after Nov.

elections...especially if the Repubs lose.

The declining gas prices are a mirror image to the rising food costs. I couldn't believe how much the prices have raised in just one week at the grocery. The fruit and veggie prices are so high, customers are leaving the produce to rot on the display tables. Those prices are for in-season items, too!

Gonna be a long winter.

[noneofmybusiness]

6. Should've gone short on oil futures

This happens every time.

People who have noticed this and are in a position to speculate must be raking it in.

[HereSince1628]

8. Yeah, blame the speculators...

as if the news and rumors they worked from aren't a huge manipulation of public sentiment.

here's a tip...the rumor is a colder than average winter is coming...I imagine the markets will catch-up with that story after the first Tuesday in November. I imagine we'll see an "unexpected" competition between production and availability of diesel and heating oil just about then.

[ChairmanAgnostic]

9. Coincidence? I think not!

from 3.39 to 2.79 in chicago's southern suburbs

[underpants]

11. $2.379 here in Richmond

Think "Macacca"

[LostinVA]

25. 30 minutes more a bit up the road

[melnjones]

10. Almost down to $2.30 here. nt

[LibinMo]

12. Down to $2.16 in SW Missouri this morning

[importDavid]

16. Filled up for $2.22 last night in KC

Nice to see - but I have no doubt it's politically motivated...

[Igel]

23. You win.

Provisionally.

2.199/gal yesterday. Houston.

[xultar]

14. Co-INKI-FUCKIN-DINK! These muthafuckas are conspiring 2 win votes

Demand hasn't changed people.
The same fuckin excuses they gave us las time about demand hasn't changed in the last 2 months to spark this downturn.

Don't be fuckin fooled. Either they let them raise the prices to get runaway profits or the oil giants are voluntarily allowing prices to slip so they get another chance to stick it to us by securing wins in 10/06.

Don't be fooled.

[lgn19087]

36. Aren't crude prices down?

That would explain the lower prices.

[rocktivity]

19. And in the wake of the PT9/11 debacle, they'll fall even faster...

:evilgrin:

I paid 2.43 outside of Newark NJ this past weekend. I can't remember the last time I paid less than $2.50.

I find these threads enormously helpful.

:headbang:
rocknation

[brentspeak]

20. Then, on the day after Election Day, they'll mysteriously rise once again

[mary195149]

22. We know there is alot of people out there

who decide on whether bush is doing a good or bad job solely by the price at the pumps. The oil companies realize they need to throw us a bone every once in awhile. They will keep the gas prices down for now. It will pay off for them, again big time by picking up votes. Still making huge profits even at these lower prices, they will make up for it after the election when we see a spike of gas prices. It's worked in the past and they will continue using this till people have had enough.

[onehandle]

27. ...but will rise back over $3 a gallon after early November. nt

[Yavin4]

29. If You Drive Up w/ a Bush Bumper Sticker

You get another 10% discount.

[Ragin_mad]

31. If this is only because of the upcoming election, then why did it fall

last year at the same time. Was there an election last year I didn't know about ?

[damntexdem]

32. What a coincidence!

So soon before an election!

[Sherman A1]

33. Isn't it amazing!

I feel sooo much better. Can we stock up and save at these new and improved prices (which will last just about until November 7).

[MGD]

34. Light sweet crude has fallen about $9/barrel in the past few weeks too

I think the news of a major oil discovery in the gulf ofMexico is "fueling" this decline in prices. An increased supply will decrease the demand which tends to make speculators "get out while the getting is good".

http://www.tfc-charts.w2d.com/chart/CO/A6

[rainbow4321]

35. $2.32/gal in Dallas suburb n/t

[TheWatcher]

37. The Criminals who are running this country are not even trying to be

transparent any longer.

This is DIRECTLY related to the election, and this is a blatant, open, and brazen attempt to manipulate the base.

Every day now, they are doing things absolutely DARING everyone to call them on it or to stand up to them, like a bully on a playground.

I would like to think that somehow this country will rise up and beat the bully to a pulp.

We are not going to survive as a country if these people retain power.

[Rebellious Republican]

38. They are not even fooling the conservatives.......

I posted this as a reply to another gas price thread and thought it derserved a repeat performance here as well.

My conservative friend (voted twice for "W" and twice for Jeb) at work, said a month ago, that the price of oil will go down the closer we get to the election. He was right and he used to be a "hard right" kinda of guy. Even he is fed up the Bushit, now he is a "vote the incumbent out" kinda guy. In other words, because he is a proud conservative, he won't just say that the GOP fucked him and that he is voting DEM. As for me I saw the light years ago, just about the time they swift boated John McCain in the primaries of 2000.

Yep, the GOP just don't get it, they have lost the moderates already like me, now they are losing even the most devout.

Here is a little something for the GOP to chew on......

[KatyaR]

39. The lowest I've seen on my way to work has been $2.27,

but there are places here in OKC where it's as low as $2.11. I think when it started dropping, the price went down at least 54 cents in less than two weeks.

I'm sure by Thanksgiving it'll be back up to over $3 a gallon.