The official gas price thread

[gonzogirl]

$70. lasts me about 4 days!
I am working for the county commisioners as a temp and they are having meetings on shutting down clinics and other programs. The youth environment corps is gone. that sucks cuz Oregon has alot of young people that want to be involved as volunteers and now ..gone. Also gone are the free clinics .......All the people without insurance will be flooding the ER rooms now for all kinds of care. It is surprising...
but the county is building some brand new EXPENSIVE buildings.....At least the bearucrats will have their jobs....

[gonzogirl]

Does anyone want to throw in their two cwnts on why the prices are now so fricken' low? Not that I am complaining but I think I should be pissed. Or concerned at least.
I think it is because with the $ crisis ...speculation has been halted.
Speculation = prices as high as we can go.
I dont do the supply and demand thing it dont work for me now, because I know that Americans have been using LESS.

[Numenorean7]

I paid 90.4¢ per litre tonight, wow!

[Chip]

$2.19 per gallon

[Harte]

Originally Posted by gonzogirl

Does anyone want to throw in their two cwnts on why the prices are now so fricken' low? Not that I am complaining but I think I should be pissed. Or concerned at least.
I think it is because with the $ crisis ...speculation has been halted.
Speculation = prices as high as we can go.
I dont do the supply and demand thing it dont work for me now, because I know that Americans have been using LESS.

Gonzo,

Speculation has not ended and likely never will.

It's just that today speculators are betting that the demand for fuel will be less in the future. So they are betting that the price will be lower. So it is lower.

When you say "speculators," you're talking about people that buy and sell future gasoline contracts on the commodities market. That is, they are actually buying and selling the right to buy gasoline next month from producers.

This weird way is how the price of gas actually gets set.

So, regardless of whether you "do the supply and demand thing," they do and it's resulted in lower gas prices. See, lower demand means higher supply. Higher supply means lower prices to unload the supply.

The speculation for the decrease in demand is likely based on the economic situation. When large markets like the US are in recession, demand for things like fuel falls sharply. Commodities traders are anticipating this drop-off in demand.

Actually, they are anticipating that this drop-off of demand will continue. Demand for fuel has already fallen precipitously in large markets all over the world due to the economic downturn.

Harte

EDIT PS - forgot to add that I'm paying 1.92 per gallon here. Ha Ha!

[gonzogirl]

Originally Posted by Harte

Gonzo,

Speculation has not ended and likely never will.

It's just that today speculators are betting that the demand for fuel will be less in the future. So they are betting that the price will be lower. So it is lower.

When you say "speculators," you're talking about people that buy and sell future gasoline contracts on the commodities market. That is, they are actually buying and selling the right to buy gasoline next month from producers.

This weird way is how the price of gas actually gets set.

So, regardless of whether you "do the supply and demand thing," they do and it's resulted in lower gas prices. See, lower demand means higher supply. Higher supply means lower prices to unload the supply.

The speculation for the decrease in demand is likely based on the economic situation. When large markets like the US are in recession, demand for things like fuel falls sharply. Commodities traders are anticipating this drop-off in demand.

Actually, they are anticipating that this drop-off of demand will continue. Demand for fuel has already fallen precipitously in large markets all over the world due to the economic downturn.

Harte

EDIT PS - forgot to add that I'm paying 1.92 per gallon here. Ha Ha!

Yeah it occured to me that I contridicted my own statement..the supply and demand thing~y.
ok what happens when it goes back up..WAY UP!
I am for it going up so far that we have no choice but to deal with it.
Harte, do you think that the speculators are ethical?
Or do you think that together all the speculators price fix?
I mean I hear that we are using the same amount of gas and then I hear that we have cut way down.
Confusing to say the least.
I think I will do just about anything to stop giving my money to the House of Saud.
Lets just as a country, commit to not doing business with TERRORISTS!
RawR!

oh yeah...$2.12 a gal.

[Harte]

Here I'm paying 1.85.

Gonzo, I wouldn't call speculators unethical, unless some of them were shown to have gotten together to "fix" prices and then pretend to speculate in the market in order to make money.

That would be cheating.

Also, very few of your dollars for gas end up in Saudi hands.

Most of our imports come from the Western Hemisphere.

Harte

[Numenorean7]

Gaz price passed from 76 to 85 ¢ per litre today in Qc, that's shitty.
I filled my truck on monday, without even knowing the prices were about to go up.

International symbol for gasoline