Latest report gas could easily fall to unsustainably low levels if we have a warm winter.

Seattle Times/Business & Technology in Drude Report.

Market Forces?

... or Big Oil/CFR/G8/GOP conspiracy...

 

Diesel is $2.39 gal in Guthrie, OK. I can't wait to get off work and go fill up. I'd have to vote for the conspiracy, but what do I know about it.

 

there is another el nino in the pacific and they are predicting a warm winter. gas is down to 2.16 here. wouldnt mind seeing it under 2.00 again. about 10 years ago, i was riding w/ a friend and his mom. we filled their suburban, costing $45 and she freaked out. those were the days.

 

if #2 was $2.39 here, I would get a huge tank in the backyard and store it myself. still at $3.09-$3.39 here.

 

My aux tank in the back still has about 1/3 tank of farm diesel in it, I sure am contemplating topping it off with clear... The tractor is full and I won't be using it much now...... ...since I paid $2.75 for the farm diesel three weeks ago!!!

 

When the price of gasoline falls low due to a glut on the market and diminished demand, the oil companies will increase refinery production of diesel (since it's more profitable), which will increase supply enough to create significant downward pressure on pump prices.

 

I heard the same thing here, too.. By late Nov., in the $2 range- for GAS. #2-not a chance. I don't think we will ever see fuel for less than $2 again, as a national average anyway. Ever.

 

Just filled up for $2.49 gal 40 miles away.
Price here just dropped from $3.13 to $2.99 in the last 4 days.

 

Filled up with unleaded for 2.129/gal in Shawnee last night. It hurts to be happy about 2.12/gal.

 

It is all about supply and demand and NOT who is sitting in the Whitehouse (Even though certain people would like you to think so)...

I know I use less fuel than I used to because of the cost factor. I get more things done each time I run to town rather than just making separate trips like I used to.

My guess is demand is down all over for the same reason and prices will act accordingly. Diesel around here has so many taxes on it that I can save 25 cents a gallon just driving 5 miles across the state line but since the truckers have to keep on trucking, demand does not drop as quickly as it does on gasoline.

 

$2.15 for gas here. However, diesel is still high at $2.73... but its slowly coming down. It was $2.89 all last week.

I agree that the national average for gas will never go below $2, but I think that in some parts of the country it might dip below $2.

 

I believe we will see #2 at below $2/gallon again, probably sooner rather than later, which is why you're seeing investors in the commodities market feeling pressure to move out of oil futures before they get hurt too badly.

Naturally, hurricanes in the Gulf, proxy wars in the Middle East, or a basic nuclear holocaust could interrupt supply more than curtail demand, which would tend to drive pump prices skyward.

 

And this can bring us a warmer winter which could drive heating oil (#2) down even more. http://www.noaanews.noaa.gov/stories2006/s2699.htm

MikeyB

 

2.09 for gas and 2.44 per gallon for diesel here in mt sterling ky.heck we are even on the interstate. (64). still sucks when your happy abput 2 dollar + fuel prices.

 

Heating oil is right around $2.15 a gallon now. It was at $2.89 (cash, 250+ gallons) in June.

How about that for backwards?!

Let it fall, I would be very happy with Diesel under $2.00 again.