Gas prices dropping soon?

[lacanteen]

This is Murphy in Opelousas, LA:
Regular
$3.08
.
Midgrade
$3.32
.
Premium
$3.58

This is Murphy in Lafayette, LA.
Regular
$3.26
.
Midgrade
$3.56

It's amazing the difference 20 miles makes.

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[Johnnybee]

I paid CDN$1.879 per litre for 91 the other day. That is roughly US$5.53 per US gallon.

 

[Gregs24]

I made that prediction early July. Oil prices are down a few dollars for me since. Your oil prices are exactly the same.

But you wanted to call me out and I think you need this win much more than me so take it.

We can check back again in September though. That was more the time frame I was looking at. Here is a chart for you. Far right column tells the story.

I have been talking about oil not gas prices. Gas decoupled from oil and is just in reversion mode.

Checking back in September as you requested ...

Oil prices still falling steadily (WTI)

 

[Bikeman315]

The price of gas has totally become a non issue. You really need to wonder why we went though all the BS during the spring.

 

[sk47]

The price of gas has totally become a non issue. You really need to wonder why we went though all the BS during the spring.

Hello; I get that you live in a world of your own that seems to hinder understanding the plight of others. Also gas is not that low priced everywhere. Gas over three dollars is a burden on many still. The big question is why gas has fallen of late. If supply is improved such is one thing.
If, as has been reported, it is demand destruction because many simply cannot afford gas and the other necessities of life combined, the situation is still bad.

Russian oil appears to be making it's way out into the world which helps supply. I am not up on if other supplies have hit the market. Most recent I hear is OPEC is considering a reduction in output to try to keep prices from going down.
Here is away to think on it. Gas was very cheap during the Pandemic lockdowns. However, those lockdowns and other policies set us up for a world economic crisis we now have.

But yes, taking a narrow view the price of gas is down. But before I cheer too much about lower prices an understanding of the underlying causes need to be known. If the world economy is becoming more stable that is good. If a result of an ongoing economic crisis. Not good.

The release of strategic oil reserves continues and will stop soon. Near the end of the year I think. When it does stop, we will have less for an emergency or other dire need. That does artificially help supply a bit. I do not think it was worth the future risk.

 

[K4fxd]

The price of gas has totally become a non issue. You really need to wonder why we went though all the BS during the spring.

Subtract a dollar from each and we have the cost of gas pre-covid.

I think there is some smoke and mirrors going on currently.

 

[Bikeman315]

Subtract a dollar from each and we have the cost of gas pre-covid.

I think there is some smoke and mirrors going on currently.

Well it’s 2022 so with inflation and all the other crap that’s been going on maybe a buck isn’t to bad.

 

[jtmat]

Add in we are draining the SPR at about a million barrels a day. That is suppose to end October 1st

You picked that up from an opinion piece... not exactly something I'd run around posting... you really need this.... bad. Keep "predicting" for things to go up... eventually they will.

Anyway, there are 442,471 barrels as of 9/2. There were already sales in place before the administration rightfully acted, etc... we are fine.

I'm more interested to hear about that Lotus Emira Greg has on order... does not sound like he is concerned with the cost of gas... lol

 

[m3incorp]

I learned many years ago, it is not smart to argue about things that you can't directly control. If gas prices drop many are glad, regardless of what the reason was for the price recduction. I am with that group. If they increase, I don't go out on a limb and claim to be the almighty and know exactly why that happened. I am old enogh to remember when gas was below $1 U.S. a gallon. I haven't wasted a minute of my life trying to convince anyone why those prices don't exist anymore. I won't bother to post the prices of gas, where I am currently visiting.

Yep, I know this is a forum and some of us take that to mean let's get ready to rumble. The irony is that usually that rumble is a waste of energy, as many tend to maintain the same opinion they had coming into the match.

Crap....the commercial is over and back to the football game for me.

 

[sk47]

I learned many years ago, it is not smart to argue about things that you can't directly control. If gas prices drop many are glad, regardless of what the reason was for the price recduction. I am with that group. If they increase, I don't go out on a limb and claim to be the almighty and know exactly why that happened. I am old enogh to remember when gas was below $1 U.S. a gallon. I haven't wasted a minute of my life trying to convince anyone why those prices don't exist anymore. I won't bother to post the prices of gas, where I am currently visiting.

Yep, I know this is a forum and some of us take that to mean let's get ready to rumble. The irony is that usually that rumble is a waste of energy, as many tend to maintain the same opinion they had coming into the match.

Crap....the commercial is over and back to the football game for me.

Hello; Back when i first started driving I could find gas for 25 cents/gallon. Thats right four gallons for a buck. The price of a really nice full-sized Pontiac or Oldsmobile was around $3,000 to $3,500.
Over the decades the constant spending and adding to the debt has had a steady influence on decreasing the buying power of the dollar. (inflation).
Things is of late the rate of deficit spending has increased nearly exponentially. The sad trick behind this is the money printing done with a set of questionable practices. In effect an arm of the government has been buying large amounts of its own debt.

I have been hearing from personal acquaintances and media about a thing called "modern monetary theory'. I cannot explain the logic behind it to any real degree. What I do see is the notion any amount of spending and debt without limit is showing it's dark side. The steady gradual inflation which has happened decade after decade is now replaced with rapid inflation at rates i have not seen in my 75 years. Some other countries both in the past and recently have had to live with even worse inflation.

As far as changing the opinions of others, that is not my reason for commenting. I want those with an opinion contrary to my own to defend what they post. I will try to explain things as i understand them. I know some things well. You and others know other things well. A general truth has been found to be that a lot of wisdom exists in large groups.

Back to my point. I am old and for a while figured my funds would be enough to outlast the previous rate of inflation. That was a couple of years ago. Now I am not sure.

Just finished watching a movie called MOONFALL. Free movies the last few days on Direct TV. It was an adventure SCI-FI sort of film. It was fun to watch, but not vested in reality. The premise and most of the big scenes had no relation to real physics. Earlier in the day I watched a film called GRAVITY. That film was mostly based on reality. The scenes attempted to stay true to real physics. Two different ways to approach things. I preferred the movie most closely based on how things actually work. Same for things in everyday life. Even if i cannot do much about gas prices, I still think discussing the in's and out's is worth doing.

 

[m3incorp]

Do you mind explaining why you chose to quote me? Also, what is it that you are wanting me to believe in that lenghty post? You do realize that you said in your post you "have been hearing...." and then went on to say you want people to defend what they post. I am sure you see what I am getting at here. The initial post was about gas prices dropping and somehow that went down a rabbit hole to where we all need to state why they are declining and why they are at the price they are now, and what they were when we were we were a grasshopper riding in the backseat. What's to defend? If you had no affect on what or why, what do you defend? BTW, large groups have been known to make very bad decisions.

I do agree some countries had or have worst inflation than we are currently dealing with.

I won't comment on the two films. I am sure you can guess that I believe films are for entertainment and thus I don't relate them to reality. Old Yellar on the other hand....... Ok , I am just trying to lighting things up a little. :}

Hello; Back when i first started driving I could find gas for 25 cents/gallon. Thats right four gallons for a buck. The price of a really nice full-sized Pontiac or Oldsmobile was around $3,000 to $3,500.
Over the decades the constant spending and adding to the debt has had a steady influence on decreasing the buying power of the dollar. (inflation).
Things is of late the rate of deficit spending has increased nearly exponentially. The sad trick behind this is the money printing done with a set of questionable practices. In effect an arm of the government has been buying large amounts of its own debt.

I have been hearing from personal acquaintances and media about a thing called "modern monetary theory'. I cannot explain the logic behind it to any real degree. What I do see is the notion any amount of spending and debt without limit is showing it's dark side. The steady gradual inflation which has happened decade after decade is now replaced with rapid inflation at rates i have not seen in my 75 years. Some other countries both in the past and recently have had to live with even worse inflation.

As far as changing the opinions of others, that is not my reason for commenting. I want those with an opinion contrary to my own to defend what they post. I will try to explain things as i understand them. I know some things well. You and others know other things well. A general truth has been found to be that a lot of wisdom exists in large groups.

Back to my point. I am old and for a while figured my funds would be enough to outlast the previous rate of inflation. That was a couple of years ago. Now I am not sure.

Just finished watching a movie called MOONFALL. Free movies the last few days on Direct TV. It was an adventure SCI-FI sort of film. It was fun to watch, but not vested in reality. The premise and most of the big scenes had no relation to real physics. Earlier in the day I watched a film called GRAVITY. That film was mostly based on reality. The scenes attempted to stay true to real physics. Two different ways to approach things. I preferred the movie most closely based on how things actually work. Same for things in everyday life. Even if i cannot do much about gas prices, I still think discussing the in's and out's is worth doing.

 

[Gregs24]

I feel sorry for you. You really need this. Poor thing.

No oil prices have not climbed as I had predicted. I suspect I am just early but time will tell.

It was you that asked for me to bring it back up. I don't NEED anything.

Oil will go back up one day if you wait long enough, but I don't really call that a prediction that you can hang your hat on.

 

[Gregs24]

I'm more interested to hear about that Lotus Emira Greg has on order... does not sound like he is concerned with the cost of gas... lol

Should get mine early next year, 2 year waiting list. Manual V6, last of the breed

Lotus Emira review. Driving Tour & Sport versions of Emira back to back but which is best? - YouTube

Petrol will be 50p / litre by then

 

[Bikeman315]

Do you mind explaining why you chose to quote me? Also, what is it that you are wanting me to believe in that lenghty post? You do realize that you said in your post you "have been hearing...." and then went on to say you want people to defend what they post. I am sure you see what I am getting at here. The initial post was about gas prices dropping and somehow that went down a rabbit hole to where we all need to state why they are declining and why they are at the price they are now, and what they were when we were we were a grasshopper riding in the backseat. What's to defend? If you had no affect on what or why, what do you defend? BTW, large groups have been known to make very bad decisions.

I do agree some countries had or have worst inflation than we are currently dealing with.

I won't comment on the two films. I am sure you can guess that I believe films are for entertainment and thus I don't relate them to reality. Old Yellar on the other hand....... Ok , I am just trying to lighting things up a little. :}

I cannot read the post you are referring to as I have @sk47 blocked. I suggest you do the same. I found reading his diatribes exhausting and pointless.

 

[Bikeman315]

Should get mine early next year, 2 year waiting list. Manual V6, last of the breed

Lotus Emira review. Driving Tour & Sport versions of Emira back to back but which is best? - YouTube

Petrol will be 50p / litre by then

RIP Colin Chapman! We lost him way to soon.

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