Another Fuel Prices Post

[eyepatrol]

It's nice to see that fuel prices have decreased over the past couple of weeks. Although they are still way too high, my wife told me she saw $2.48 yesterday. With a 25 gallon tank and prices being about $0.60/gal less than a month ago, we're spending $15 per tank less. Again, I like it, but it could be a whole lot better.

Anyone hear on the news the other night about the oil that was found in, I can't remember where, the Gulf maybe? Early estimates are that the underground reservoir contains somewhere between 5B and 15B barrels of oil....about 50% of the US usage (or something along those lines). They say it will take quite some time to actually get it to a point where it's being used. But the thing I found funnier than hell was the comment that it will cost "billions" of dollars to build what it takes to get this stuff. Oh I feel so sorry that it will cost billions of dollars.....NOT. Heck, they get billions of dollars in profit each QUARTER! Who do they think they're trying to fool?

[hanson]

$2.39 by my place in Plymouth.

[Rost]

This is sad to say, but I'd be tickled pink just to pay $2.00 anymore. After paying $3.00 for a few months, $2.00 looks cheap.

[efgh]

The oil find was off shore in the gulf 2 to 3 hundred miles in the news release I read, when the enviro_-mental_ests, I spelled that right,the states that claim off shore rights, and other countrys, who claim it is in territorial waters, and Mexico get done fighting over who gets the revenue and whether any one can drill in that area, 10 - 15 years will pass. Is this another Alaska? Just my op inion.

[eyepatrol]

That's it...we're moving to Plymouth!

I agree, $2 is still a bit high IMO, but it's a number I could live with. Anywhere from $1.75 to no more than $2.25.

[Gissert]

Nice to see the gas prices drop, now if diesel would just follow suit....

[harvey lee]

I wonder if the cheaper prices will hold even after the elections this fall.It may just be a ploy to make it look like they are trying to do something for a good jesture to the public for your vote.For the time being the prices are nice as the fall is the time of year that I use gasoline the most.Funny thing is the deisel for our race hauler is still just as bad as ever.

[nytelyter]

couldnt agree with you more harvey lee. the prices have gone up due to politics and will drop to do just that. give them a good look. however i still say if it has an I (incumbent) pass it by this fall in the booth. get some new blood in the house and senate. ... paul

[Ole the Guide]

Funny how gas prices seem to drop just in time for the 2006 elections....

Hmmmmmmmm! I see a pattern here..

Ole

[IFallsRon]

Think about the cost of technology to drill seven miles below the surface of the Gulf of Mexico.

I've read that the Gulf is a difficult place to explore due to undersea currents and occasional hurricanes.

[fishinchicks]

I wouldn't be that extreme, to vote for anyone else but the incumbent. In our area, the challenger is proposing much worse than what the incumbent has done for us. A better approach would be to study who your candidates are (all parties), and choose based on your knowledge, not just name recognition.

[BobT]

[harvey lee]

I agree with fishinchicks totally. I dont vote party,I vote for the person.

[broncosguy711]

I have a HSOforum that I go to that tells me the lowest cost within 5 miles of my house. so I have been saving 100's of dollars driving a extra 50 miles j/k. anyone interested let me know as I figure I can not post it here as not a sponsor.

Broncs

[email protected]

[JollyT]

Gas stocks are up for now, so the price is dropping. If we hear more bad news the speculator's will drive the price back up again. What you want is no more hurricaines or mideast problems.

The oil in the deep part of the gulf has been known about for years. It's just too expensive to try to drill for unless oil is at $50 a barrel or more.

The diesel guys won't be getting a break. It's basicly the same fractions as home heating oil. Guess what stock needs to be built up this time of year?

[rosspj59]

There was an article in the Press last week that for the past few years in september gas prices drop and are the lowest until the next quarter every year. Just in time for the good fall bite. I hope they keep dropping and natural gas goes down too.

[Gissert]

Yep - Diesel and home heating oil are nearly identical. Jet fuel/kerosene is in that spectrum too.

[Doonbuggy]

For all the political conspiracy theorists out there regarding gas prices, JollyT has it right. The prices are down because of the following:

> End of summer driving season

> Truce in mideast continues to hold

> Minimal hurricane activity

> Discovery of a potential boatload of oil in the Gulf of Mexico.

When prices were high, what did we have? We had a war in the mideast, which happened to be right in the middle of the summer driving season, expectations were high for an active hurricane season and there wasn't a word about a potential goldmine of oil in the gulf.

In addition, all the oil companies these days are publicly held. I don't buy for a second that they would suddenly decide to drop their prices by 25% just because of impending elections.

Surely if there was proof of this the Democrats would bring it up! Talk about Watergate x 100!!

It still comes down to supply and demand. Unfortunately, long term, these lower gas prices are not good. Until we get gas to $4-5 a gallon there will not be strong incentive to develop a program where we wean ourselves off of oil.

DB

[Team Otter]

You're right on the mark harvey lee.

[iffwalleyes]

Diesel is better than it was but it still is up there. I am paying about $0.40 a gallon less than a month ago. It helps but diesel over $3.00 is still plain wrong? You know things are wrong when you see $3.04 for diesel and get excited about it. But then you remember it was $3.44 a few weeks ago so it does seem better then. I would love to see it get back to around $2.50 again but with the winter heating season coming up I don't expect it.

[harvey lee]

Doonbuggy,the democrats get there slush fund money also.They need it just as bad as the other parties.The politicans have the oil companies cut the price and many people will think they are doing there jobs.Once re elected then the big oil can go back to plan A-Billions in profits.Its all a big game.

I am not saying other things dont factor in,but the politics issue is a BIG one.

These posts should probably be in the Political forums.

[Down Deep]

I think that the price went down because when the price hit $3.00 a lot of people had enough and quit driving so much causing a supply surplus.

[Gordie]

Harvey Lee is right its all about pollitics and yes some other factors due dictate it but pollitics out weigh everything else.

[yaggie]

Its supply and demand. I think everyone reading this board has conserved on fuel in some way since gas ran over $3.00. Some concerved without even thinking about it, either one less trip somewhere or taking the car instead of the truck or even using a electric trolling motor rather than the outboard. As for diesel you still have the extra cost built in due to low sulfer requirments which requires additional refining. Its interesting though as we now think that $2.00 gas would be a bargain.

[JohnMickish]

We are coming up on an election with a Republican control on things and a Republican oil man as President. They want to keep it that way so of course the cost of gas will go down hoping you will forget about the $3.14 prices of this summer and promting you to make a political change.

I don't know if that is 100% true but it could be???