• Hey Guest. Check out your NeoGAF Wrapped 2025 results here!

Gas Prices Are The Lowest Since 2010

Status
Not open for further replies.
Still above $3 in great NYS and it'll probable stay that way. Filled up for 3.17 a gallon and a super jealous of everyone fillin up for under 3....boy I love NYS tax :-/
 
And right on cue, gas prices here in kentucky kumped back up to $2.90 for no apparent reason.

There was speculation earlier today that OPEC was going to cut production so everyone was expecting the price of a barrel to increase again except they didn't and the reverse happened the price of a barrel actually dropped. Those stations that raised it jumped the gun.
 
My grandma told me over the phone that she got gas for <$2.50 earlier in the Independence/Kansas City area.i haven't heard from my wife what it is like over in SC lately but it is usually quite a bit cheaper than MO prices, so hopefully it maintains through the holidays. It would be nice if I could be getting $2.40/gallon gas next month when I fly in. That would be around $.60-$.70 cheaper than what I was paying in September when I was in the country...
 
There is 2 reasons for this... Saudi Arabia is trying to wreck Iran's economy whilst also making unprofitable, U.S's oil production growth (fracking). U.S is also not going to do anything as this is also hurting Russia's economy. There is an oil war going on right now and whoever can sustain it the longest, will win.

The 2nd reason is due to the slowdowns in China, somewhat EU, and Japan's economy, leaving more supply and less demand of oil.

Personally, I want this to last for a long time, but I fear for U.S's domestic energy production if this continues. I also want it to rise, so we can go renewables more quickly. I am conflicted D:

I wouldn't worry about it too much- it's not like the oil will be lost if it isn't used.
 
There was speculation earlier today that OPEC was going to cut production so everyone was expecting the price of a barrel to increase again except they didn't and the reverse happened the price of a barrel actually dropped. Those stations that raised it jumped the gun.

Every station in the entire city did it and despite the speculation being wrong, the prices remain at $2.90. That's not jumping the gun. It's price gouging. Prices will now trickle back down to $2.73 here then jump again. They have been doing the same thing for weeks.

Prices in Lexington, Ky are currently twice as close to those in Los Angeles as they are to Tennessee, an hour to the south.
 
Every station in the entire city did it and despite the speculation being wrong, the prices remain at $2.90. That's not jumping the gun. It's price gouging. Prices will now trickle back down to $2.73 here then jump again. They have been doing the same thing for weeks.

I'm in Lex and my roommate filled up for $2.39 a gallon earlier this week. That's pretty damn low.
 
I'm in Lex and my roommate filled up for $2.39 a gallon earlier this week. That's pretty damn low.

I don't see how. The lowest they hit this week anywhere I saw was $2.73.

Gas buddy lists the lowest average price of any city in the U.S. at $2.45 and the average price in lexington at $2.83. If he paid $2.39 it was with a 30 cent Kroger discount or something similar.
 
Every station in the entire city did it and despite the speculation being wrong, the prices remain at $2.90. That's not jumping the gun. It's price gouging. Prices will now trickle back down to $2.73 here then jump again. They have been doing the same thing for weeks.

Prices in Lexington, Ky are currently twice as close to those in Los Angeles as they are to Tennessee, an hour to the south.

Yeah pretty much I'm glad I moved away from the city we still get gauging here but its far cheaper than downtown LA.
 
a lot of oil companies are providing more oil then there is demand so the price of gas has dropped about 1/3 during the last year. Ufortunately the gas station managers don't adjust their prices accordingly :/
 
I don't think you guys realize how lucky you are. I saw 1,9 € for 1 liter in my country (in dollars/gallons it would be like 8,8 $) fuck this shit.

I bought a methane powered car couple of years ago, I'm done with that oil shit.
 
5,5 usd per gallon here in chile. Fuck the state, nearly half of that is taxes charged for using the roads, when actually all are now concessions to privates that charge tolls for using the highways. We actually pay twice for using them.
 
The Saudis being the only ones able to handle prices at this level isn't a great situation. The world economy is already being disrupted by this in various ways, and other countries heavily reliant on oil exports are going to be in trouble. Sure, it was nice pumping that $2.19 gas this week, but we don't live in a vacuum. What happens from here will be very interesting to say the least.

When are people going to stop blaming Bush and finally give Obama his due?

Are people really attributing low oil prices to some great thing Obama did, or are posts like these joke posts? Reduced demand outside of the U.S. along with Saudis keeping production ramped up to the max has more to do with this than anything Obama did, obviously.

Also, don't forget the largest job growth sector in the U.S. since the recession has been that very sector. The same sector which requires for the most part $100+ per barrel oil to be profitable.

But in general, don't worry, the consequences (not just with regard to this; everything) won't hit until after the 2016 election, so we can blame the next guy. That's basically how it goes. The financial crisis Clinton laid a ton of groundwork for years earlier was later blamed on Bush. And then the consequences of Bush's neocon bullshit and other related and unrelated awful policies were blamed on Obama. And around we go.
 
Funny seeing this thread. I was looking to fill up earlier, and I caught myself complaining about how Shell was 1.75 last week now it shot up to 1.89.

I mean, I complained over a whole .15 cents and it was still under $2. Although I was alone, I felt stupid.
 
Also, don't forget the largest job growth sector in the U.S. since the recession has been that very sector. The same sector which requires for the most part $100+ per barrel oil to be profitable.

Sure, but while those companies did so well, others faltered due to less money available to consumers for other things. I for one have had more money for other things lately. That will have a positive impact on other sectors.
 
Sure, but while those companies did so well, others faltered due to less money available to consumers for other things. I for one have had more money for other things lately. That will have a positive impact on other sectors.

Yeah, all the negativity for lowering oil prices seems so odd to me. Like I can understand certain sectors taking a hit, but they had nearly a decade of HIGHLY overinflated prices. They should have planned for this to happen when barrels of oil were going for $150 a pop.
 
Sure, but while those companies did so well, others faltered due to less money available to consumers for other things. I for one have had more money for other things lately. That will have a positive impact on other sectors.

While that's true, the growth in the U.S. energy sector kept dollars here. Having the Saudis as the only ones selling profitable oil sends more dollars overseas. And it's fair to expect many of the excess dollars saved to be sent overseas too as we buy extra Made In China crap.

So while you have a valid point, it's definitely worth noting that it's not a zero sum game.
 
Status
Not open for further replies.
Top Bottom