Gas prices?

Question

whats caused the drop of gas prices? it went from 3.15 to 2.78 at mobil? from 3 to 2.64 at other places. anyone know why?

Answer 1

Many reasons. The hurricane season is about over and there have been no big storms at all this year. By this time last year, we had 14 major ones.

The conflict between Israel and Lebanon is over. Remember, when that started, prices spiked.

The summer is over. For some reason, ignorant fools like to drive around in their gas-guzzling SUVs for no particular reason during the summer. I know, because I kept getting stuck in the trafic jams at all hours of day and night on the Beltway in DC. So now that the larvae are back in school, they aren't randomly driving around as much.

The refineries are converting back to winter formulations, which are cheaper. Many states require gasoline with special blends during the summer, and this raises costs.

And a lot of the damage from last year in the gulf coast has been repaired now, and the refineries are nearly at full capacity.

If everything continues to go well, then prices should drop down to about the $2 mark.

Answer 2

there are three main reasons. The first one is that, as stated, the summer is ending and people aren't going to be driving as much. As well, unless I'm completely wrong on this, the oil rigs in the Gulf of Mexico have most likely been repaired and returned to an operational state. And lastly, things have been a little on the quieter side in the middle east in comparison to before. It doesn't hurt that, yes, the Republican Party is trying to get more votes this coming november, but that is for the most part beside the point.

Answer 3

Oil companies have come to feel that the hurricane season will not be as severe as the past year or two with less threat to existing oil rigs in the Gulf.
They have released some of their own reserves, as well as realizing more production from repaired rigs in the Gulf of Mexico.
Some decline in consumption as well.

Answer 4

It's getting colder and engines use less gas when the air con is off. People are driving less and using more economical vehicles. People have less disgressionary funds available. People are losing their jobs or getting fewer paid hours of work. People are demanding more work for less pay. Politicians are demanding more perks and offer less in return for their cut of the available graft and corruption. This is an election year. Take your pick they are all equally valid!

Answer 5

the end of summer. People will be driving less so the gas companies want to make more money and they can do that by lowering prices. If they kepted them high then not as many people will buy gas as much since they wont be driving much. But since they are lower more people will want to buy gas

Answer 6

price is relevant to unit value the consumer unit being the gallon dollar unit value determines price /demand for commodity in terms buying dollar to unit cost is called demand stress.market tolerance.and unit delivery/ distribution viscosity. a viscosity appearance tends to lower prices whether it be in delivery or distribution costs regional distribution expenditure also tends to decrease cost as well as unit demand or consumption tolerance . consumption volume flux and price /.demand ratios are every thing in seasonal demand cost transitions p.s.arrays of production/ distribution viscosity were used under reagan in the80's to bring runaway prices from1.40$ to1.15/1.22$ in 84 using an increase in production -distribution rate or double multiple streamlining

Answer 7

The same thing that made gas prices go up, supply and demand. Remember that the next time someone bitches about gas prices only going up.

Answer 8

A release of gas... The CEO farted. Some liked the smell... others did not.

Answer 9

Demand is decreasing as the summer is ending.

some say elections.

Answer 10

Demand is dropping, therefore the price drops!