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[Tripon]

WASHINGTON, Oct. 20 (UPI) -- More refineries working at full capacity and plenty of supply on the domestic market means U.S. drivers are paying far less for gas, market analysts said.

AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.25 per gallon, the lowest it's been since early February. The price at the pump is about 5 cents, or 2.7 percent, less than this time last week and Tuesday's price represents the 11th straight day for declines.

AAA said in its weekly market snapshot heavy fall maintenance at U.S. refineries -- which is now subsiding -- kept gas prices higher than they would've been, but ample domestic supply put a ceiling on how high they would go.

"This factor has also been a contributing factor to prices moving lower over the past several days," the motor club's report read. "Barring any unanticipated disruptions in supply, and/or spikes in the price of crude oil, the national average could fall below the $2 per gallon threshold for the first time since 2009 before the end of year."

http://www.upi.com/Business_News/En...0/US-gas-prices-drifting-lower/4421445333289/

Paid $2.79 a gallon in Reseda, California yesterday. Hope you're enjoying the current lull in gas prices at the moment. I'm sure the industry will soon find a reason to raise gas prices significantly even when oil is trading at a historic low (adjusted for inflation).

 

[XenodudeX]

That feel when you only pay $17 for a full tank

 

[CrocMother]

I hope this doesn't encourage people to buy larger automobiles than what they need.

 

[Transistor]

Paid $1.89 in Houston yesterday. Must be because there's another Clinton 'bout to be in da White House

 

[Volimar]

When I started driving in the mid 90's you could get gas for .89 a gallon.

Back in the good old day before you punk kids with your ipods and rollerskates and hula hoops....and......rock n roll....zzzz...zZzzz.....

 

[crimsonheadGCN]

I paid around $1.90 per gallon a few days ago in Clifton, NJ. it feels good.

 

[Tobor]

I hope this doesn't encourage people to buy larger automobiles than what they need.

It definitely does. It's all temporary of course. Long term this can't hold.

 

[Jarrod38]

And next weeks headline oil refinery shuts down to issues.

 

[SillyEskimo]

And next weeks headline oil refinery shuts down to issues.

I'm always waiting for this one.

 

[Slayven]

I remember when you could put 2 dollars on monday, and ride until payday friday

 

[E the Shaggy]

I still remember when gas was like $4.50 a gallon. Things were out of control.

 

[ReturnOfTheRAT]

2.65 for premium at Costco. East Bay, California

 

[snacknuts]

When I started driving in the mid 90's you could get gas for .89 a gallon.

Back in the good old day before you punk kids with your ipods and rollerskates and hula hoops....and......rock n roll....zzzz...zZzzz.....

Yeah, man. I distinctly remember paying $0.59/gallon at Meijer on the east side of Indianapolis ca. 1996ish.

 

[Tobor]

When I started driving in the mid 90's you could get gas for .89 a gallon.

Back in the good old day before you punk kids with your ipods and rollerskates and hula hoops....and......rock n roll....zzzz...zZzzz.....

Yep. You could fill the tank with a ten dollar bill. Those were the days.

 

[lrt75914]

I still remember when gas was like $4.50 a gallon. Things were out of control.

I just paid $4.90 a gallon. Thank got my car has a diesel engine XD.

 

[TheAbsolution]

I just paid $2.15 here in Atlanta. It's awesome only paying $23-25 to fill up my tank.

 

[everyday math]

$2.39 here in Wisconsin. Feels good.

 

[bigkrev]

It's been in the 1.95 area here in New Jersey for months now, it's finally starting to get below 1.89 again this week. Filled my 13 gallon tank up yesterday from nearly empty for sub-$25

 

[Friggz]

I hope this doesn't encourage people to buy larger automobiles than what they need.

pfft. i just bought a tahoe.

 

[Dynasty]

Why are they lowering prices? Tax the shit out of gas prices, and put the extra money into cleaner sources of energy and electric cars.

 

[Aeriscloud]

$2.19 in Central PA as of yesterday.

 

[Tripon]

Why are they lowering prices? Tax the shit out of gas prices, and put the extra money into cleaner sources of energy and electric cars.

Who is "They"?

 

[gutter_trash]

yeah, and our Canadian dollar is a petro dollar and it is tanking with it.

that is what happens when a country gets too dependent on commodities.

 

[Pro from Dover]

Is it the fracking?
Because I heard that prices were to go up when the Exxon Mobil refinery blew up down the street (again), but they never did.
Anyways, full tank under $40, Wooo!

 

[biggersmaller]

Sucks for my UWTI holding. Is great for the pump. Won't complain.

 

[partyphone]

Why are they lowering prices? Tax the shit out of gas prices, and put the extra money into cleaner sources of energy and electric cars.

the price of oil is down


edit: but i agree with you. we should tax the shit out of gas and things that burn gas and use that money to subsidize electric vehicles and clean energy production.

 

[Tripon]

Is it the fracking?
Because I heard that prices were to go up when the Exxon Mobil refinery blew up down the street (again), but they never did.
Anyways, full tank under $40, Wooo!

China is in a hard recession. Basically no demand from Asia to soak up all the oil like before.

 

[Fox318]

I paid 1.74 a gallon

thanks canada

 

[CarpeDeezNutz]

When I started driving in the mid 90's you could get gas for .89 a gallon.

Back in the good old day before you punk kids with your ipods and rollerskates and hula hoops....and......rock n roll....zzzz...zZzzz.....

Thanks for making me feel old haha. I remember those days too now I chill on my porch and yell at those punk kids.

 

[Arc]

$1.99 at the BJ's here in MA! Wooooo

 

[Rhomega Beta]

$2.08 here. $16.30 for 7.803 gallons.

 

[Lev]

I paid around $1.90 per gallon a few days ago in Clifton, NJ. it feels good.

I haven't seen prices like that since 2002. It's been around $2.45 per gallon here.

 

[Pro from Dover]

China is in a hard recession. Basically no demand from Asia to soak up all the oil like before.

Wild! Thanks.

 

[Crono27]

1.79 where I'm at in jersey

 

[CrunchyFrog]

$1.82 in the suburbs of New Orleans, it's been solid in the $1.80-$1.90's range for the last 2-3 months. Full tank at around $25 feels good. I started driving a few years back when that was usually closer to $60 :/

 

[chifanpoe]

I just filled up with a mix of E85 and 93 Octane. E85 was $1.86 and 93 was $2.46. I live near St Louis on the IL side.

 

[bjork]

$3.11 the other day in So Cal, but it's been there for a little while now. It's definitely better than $4.79 or whatever the highest point was I paid.

 

[Insertia]

Thanks Obama.

 

[Slayven]

Thanks Obama.

 

[Jenov]

http://www.nytimes.com/interactive/2015/business/energy-environment/oil-prices.html

United States domestic production has nearly doubled over the last six years, pushing out oil imports that need to find another home. Saudi, Nigerian and Algerian oil that once was sold in the United States is suddenly competing for Asian markets, and the producers are forced to drop prices. Canadian and Iraqi oil production and exports are rising year after year. Even the Russians, with all their economic problems, manage to keep pumping.

 

[tokkun]

And next weeks headline oil refinery shuts down to issues.

Depends on the weather. Soon it will be going up due to "heating for houses in winter". They mainly play the broken refinery card in between that and "summer driving season".

 

[Dishwalla]

It's been under 2 bucks a gallon for more than a month now here, though it's been hovering at about $1.90.

 

[PantherLotus]

Under $2 here in Kansas City atm.

Reminder that American oil production is an active policy choice meant to isolate Russia and Iran. It's working.

 

[Thaedolus]

My only worry is that this is going to cause renewable adoption to slow as the short term economic case for cheap gas will blind people to the long-term need to find something sustainable...

But for now, I'll have to continue to be part of the problem and try to enjoy my cheap prices.

 

[Slayven]

Under $2 here in Kansas City atm.

Reminder that American oil production is an active policy choice meant to isolate Russia and Iran. It's working.

Cheap gas and we get to fuck over Russia? It is like christmas

 

[AstroNut325]

I hope this doesn't encourage people to buy larger automobiles than what they need.

Oh it's been happening. Here is a piece on it from January: Link

Hope the low gas prices end soon.

 

[mf.luder]

Is there a reason why diesel is still so pricey? It's easier to refine than gasoline. Is it straight up supply and demand?

 

[Revolver]

Cheap gas and we get to fuck over Russia? It is like christmas

USA! USA! USA!

It's been hovering around $1.75 and $1.79 along the Tenn/Kentucky border.

 

[Darkangel]

Gas where I live in Canada is $0.99/litre. I think that equals out to $4.50/gallon (CAD) and $3.75/gallon (US).

It doesn't nearly make up for the 25% value loss in my savings account.

Is there a reason why diesel is still so pricey? It's easier to refine than gasoline. Is it straight up supply and demand?

Diesel is slightly cheaper where I live on the east coast. Usually it is cheaper during the summer, but more expensive during the winter. I think it's purely a supply/demand thing.

 

[Bucca]

$1.95 here in my part of Orlando, FL. It's the best.