What do you think of gas prices now?

Answer 1

I think that it is a combination of things: More E-10 fuels being sold; the Louisiana refineries that were disabled from Katrina are back on line; demand has dropped due to the end of summer; the build up in supply prior to the oil companies changing from summer to winter blend fuels; consumer conservation in light of the $3.00 a gallon surge in prices; stability in the middle east as the Israeli-Hizbollah skirmish ended; overproduction by OPEC countries; and, of course, our own domestic escalation of oil production! Every oil well in my part of the U.S. has a pump on it and it is running 24/7! It wasn't that way 6 months ago! I guess when crude oil hits $70 a barrel it becomes worthwhile to pump 'er out of the ground!

Answer 2

DOES ANYONE KNOW HOW GAS PRICING WORKS??????

It is set by Commodity traders on Wall Street in New York, and other markets across the Globe. For the last time, GW BUSH DOES NOT TELL THE OIL CO. what to charge. Dammit!!!!!

There has been a massive reserve built up due to everyone's conservation efforts, OPEC and other oil companies now have to liquidate their reserves as oil is an organic product with a shelf life.... kinda like milk. The oil comapnies did not reduce production while creating this massive reserve. Also a weak Hurricane season has been a blessing and FINALLY, oil is coming back to realistic pricing. In the greater Tampa FL area, 87 Octane is around $1.95 - $2.25 per gallon, 89 and 93 are averaging 10 cents higher respectively over the quoted low price.

There are rumors that after the Holiday season, the production will potentially be reduced and prices may become competitive again.... Theses are rumors at this point. Keep in mind we are watching unrest in the regions of Iran and Israel that negatively affect oil prices. Iraq is a moot point as they are still rebuilding and lack infrastructure at this point to truly market oil properly.

So, in short, YES, I'm loving the lower gas prices!!!

Keep an eye on the cost of your heating oil and propane though, that's where they might sneak one past us!

Answer 3

The gas (petrol) prices in Australia are now around $1.19 a litre. Considering there are nearly 4 litres in a gallon and the value of the US dollar to the Australian dollar we are paying $6 per gallon. It is as big an issue here as it is there and the reasons for this price are quite lame. We have also been told not to expect it to ever go below the $1.

Answer 4

Gas prices now are reasonable. Much better than they have been. I have heard they will stay this way until the end of the year because it is a voting year. However, I feel they will for sure go up after the new year.

Answer 5

Let 'em ride the 'free' market.
I adjust my automobile useage to the prices.
I also have a 12 year old car that gets 40 mph.

Answer 6

I think they are being manipulated LOW because it is near the elections and because the car manufacturers are not selling HIGH PROFIT trucks.

Since most americans (like me) have short memories they will continue to buy gas hog cars and piss away the oil supply.

How many remember what happened 5 years and one month ago in NY PA and DC?

Answer 7

they're so wonderfully expensive..jeez get a life ask a question that matters. stop complaining and be happy u dont live in japan where gas was like $5 a gallon (in 2001) and it cost about $3k to get a drivers license

Answer 8

Gas prices are $2.17, today in Amarillo, TX. That is Good, comparatively speaking!

Answer 9

I think it is a total rip off, scam and BS. It is sad that consumers are paying such high prices anymore.

Answer 10

Am I suppesed to do handstands and cart wheels? They (big oil) are ripping us off. Wake up America!!