Sometimes gas prices seem to follow crude oil and sometimes they don't. Right now crude oil is at a 20 month low at $52/bbl dropping $10 in just a few days despite OPEC's announcement that it will be cutting production. But gas prices have not yet followed suit. Is a drop imminent? Are we going to see the blue sky $2/gallon again ?
2007-01-15 04:56:48 · 12 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
The average national gas price is $2.236/gallon as per Gasbuddy.com. I am in California. The average here is around $2.41/gallon.
2007-01-15 05:07:22 · update #1
Great to see so many people already at below $2/gallon gas. However, do you think it will stay? For how long?
2007-01-16 01:08:19 · update #2
What you have to remember is that gas prices are an amalgam of many different factors. You have to remember the both India and China are beginning to industrialize. China alone will be able to reach our gas usage rate in a couple years. This obviously drives up the price. Supply and demand aren't the only factors. For example, did you know that congress taxes the oil companies so much that they make more money from oil the the actual companies do? Big oil is villanized in the media but more than half of what you pay for are for taxes and additives to the fuel you use. People need to get it into their thick skulls that corporations don't pay taxes, consumers do. So if you want to blame someone don't blame Bush, blame congress. People also need to learn that the legislative branch and the executive branch have different powers and responsibilities. Sorry about that last part, I'm just still a little angry from the idiots that votes democrat in this last election.
FYI it won't ever go below $2.00 again unless a couple of things happen. The only realistic one being that a large number of oil veins are discovered and used. Not like the ones being ignored in Alaska. The unrealistic one is that Congress decreases the taxes on the oil companies. That will never happen because people don't know the few pennies that oil companies make off of every gallon. China and India are only going to consume more and more, so you should actually expect oil prices to rise.
2007-01-15 05:12:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Guess it depends on where you live. In Minnesota, gas prices have already dropped past the $2-per-gallon area. I paid $1.97 yesterday to fill up.
Seems to me that oil and gas prices do kind of correspond but it takes time for the gasoline prices to catch up to the oil prices, as that price-per-barrel is what refineries pay for certain types of oil - "sweet", "sour", light, heavy - and where it's refined and what it is refined into - natural gas, gasoline, etc.
See this link for more info.
http://tonto.eia.doe.gov/ask/crude_types1.html
2007-01-15 05:07:16 · answer #2 · answered by Dodge_fan 1 · 0⤊ 0⤋
What? that's honestly incoherent. What does racism would desire to do with this? Idk in case your conscious however the president doesnt administration oil fees. i think of they in all danger would desire to have made that sparkling to you once you took government class. O, and why are oil agencies posting checklist income? it form of feels to me like gas fees have rose simply by fact the CEO's of oil agencies choose greater income, not simply by fact the value reflects grant, call for, and inflation. Oil is inelastic, which potential human beings will purchase it no remember the value (as long as its not loopy intense). Thats whats using the value of oil up, greed. there is no rightful reason in the back of this upward thrust in gas fees, different than oil agencies understanding that they'd rape the buyer for checklist income and we cant do something approximately it.
2016-10-20 05:53:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I live in St. Louis Missouri and around here we are paying 1.96 to 1.98 a gallon.
2007-01-15 05:11:22 · answer #4 · answered by waz_up_dog2009 2 · 0⤊ 0⤋
i'm not sure what part of the country you're from, but here in south texas we are already seeing the gas prices drop to about $1.98 - $2.10
2007-01-15 05:02:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It's $1.87 at the gas station down the street from me. I live in Minneapolis.
2007-01-15 05:05:18 · answer #6 · answered by sean_jones2002 2 · 0⤊ 0⤋
i paid $1.96 a gallon in Mrytle Beach, SC on saturday
2007-01-15 05:01:40 · answer #7 · answered by nj2pa2nc 7 · 0⤊ 0⤋
I paid $1.89 near KC on yesterday
2007-01-15 05:17:59 · answer #8 · answered by Lemar J 6 · 0⤊ 0⤋
I hope so, I would like to see prices fall to under $1.00 again.
2007-01-15 05:12:50 · answer #9 · answered by Hawk996 6 · 0⤊ 0⤋
It's 2.57 here in Los Angeles.
2007-01-15 05:07:38 · answer #10 · answered by armenharoutunian 2 · 0⤊ 0⤋