Sudden sharp drop in gas prices? - TriStateTuners.com :: Home of Tristate Auto Enthusiast

DoubleOughtCel · 12-05-2008, 03:19 PM

Is there anyone here who can give some insight as to the cause of the halving of gas prices in the past 2 months? I've never been a political person, but I can only assume this had something to do with the presidential race. Or maybe it's due to the stock market or big businesses, of which I'm well versed in neither. Lil help?

poisonivory · 12-05-2008, 03:20 PM

i cant...but i dont care.

Filling my car for $20 again = WIN

Elliott18t · 12-05-2008, 03:20 PM

stock market, futures, demand, opec. don't think the presidential race had to do much with it, but it could have.

P_856 · 12-05-2008, 03:29 PM

mainly because our economy is crappy and the demand for oil is down because people are scared to spend money low demand = lower prices

Gregory · 12-05-2008, 03:30 PM

There is a lot less demand right now, and also, gas prices are always higher in the summer.

Gregory · 12-05-2008, 03:31 PM

People drive less when they have no $$$$. Go figure.

Buster · 12-05-2008, 03:31 PM

Im kinda mad, I paid 2.19 last night and today it was 2.05 for 93. But it is pretty sweet to fill up for 23.50

Kerplunk105 · 12-05-2008, 03:34 PM

Its $2.05 for 93 near me at work...yay. Its like $25 to fill up

DPancoast · 12-05-2008, 03:37 PM

Oil futures are set to go below $40/barrel. The dropping price of that = low gas prices. But I'm pretty sure the oil companies will eventually take charge and up the price. I don't think it will go above the $140/barrel from the summer... I believe i read in the wall street journal that the big players think $75/barrel is a good price to them...so I guess only time will tell... but it is a nice break. I'm just over $20 to fill up and that's amazing lol.

Plus like the others said, the economy sucks and people are driving less. I for one have been planning everywhere I drive so that I can find the shortest route and not go out of my way. But yeah. Pretty low gas prices FTW. I wonder how much lower they will go.

Gregory · 12-05-2008, 03:42 PM

**** now i have to buy a hummer!!@#$

Elliott18t · 12-05-2008, 03:42 PM

Quote:

Originally Posted by DPancoast

Oil futures are set to go below $40/barrel. The dropping price of that = low gas prices. But I'm pretty sure the oil companies will eventually take charge and up the price. I don't think it will go above the $140/barrel from the summer... I believe i read in the wall street journal that the big players think $75/barrel is a good price to them...so I guess only time will tell... but it is a nice break. I'm just over $20 to fill up and that's amazing lol.

Plus like the others said, the economy sucks and people are driving less. I for one have been planning everywhere I drive so that I can find the shortest route and not go out of my way. But yeah. Pretty low gas prices FTW. I wonder how much lower they will go.

but what they "think" is a good price doesn't always mean it should be that

evogsrviii · 12-05-2008, 03:44 PM

like everyone said, demand is down and the economy is struggling. those are the main factors for the price of oil going down. check out this article:

http://www.foxnews.com/story/0,2933,462284,00.html

TGilb2007 · 12-05-2008, 03:57 PM

Quote:

Originally Posted by DPancoast

Oil futures are set to go below $40/barrel. The dropping price of that = low gas prices. But I'm pretty sure the oil companies will eventually take charge and up the price. I don't think it will go above the $140/barrel from the summer... I believe i read in the wall street journal that the big players think $75/barrel is a good price to them...so I guess only time will tell... but it is a nice break. I'm just over $20 to fill up and that's amazing lol.

Plus like the others said, the economy sucks and people are driving less. I for one have been planning everywhere I drive so that I can find the shortest route and not go out of my way. But yeah. Pretty low gas prices FTW. I wonder how much lower they will go.

From what a friend of mine who is watching the oil markets, not a whole lot lower. We are starting to see it level out right now from the crazy drops we have had in the past couple months

Quote:

Originally Posted by Elliott18t

but what they "think" is a good price doesn't always mean it should be that

$75/barrel means probably around $2.10 or so at the pump (for 87 at least). Its not going to skyrocket like it did this past summer.

240sxDann · 12-05-2008, 03:58 PM

Quote:

Originally Posted by Elliott18t

but what they "think" is a good price doesn't always mean it should be that

tough ****, thats how it works LOL! I haven't changed my driving habits at all, even the slightest, due to gas. I just figure, I gotta pay more to play more. Oh well?

Elliott18t · 12-05-2008, 04:01 PM

Quote:

Originally Posted by 240sxDann

tough ****, thats how it works LOL! I haven't changed my driving habits at all, even the slightest, due to gas. I just figure, I gotta pay more to play more. Oh well?

me either lol. but when opec says **** like cutting production im like

for what seems like no reason at the time.. at least I personally dont know.

D Money · 12-05-2008, 04:23 PM

$1.57 in NJ, woot!

97TurboDSM · 12-05-2008, 04:25 PM

in case you havent noticed, the money market is in shambles right now. that would be the one and only reason

zerioustt · 12-05-2008, 04:42 PM

Quote:

Originally Posted by subwrxkid

$1.57 in NJ, woot!

was 1.49 at a place near me...sj ftw!

oil will dip down to around 25-30 dollars a barrel within the next few months...can you say 87 for below 1.25???? it will happen. when it does ill take a pic so i can remember it in a year or so.

The Captain · 12-05-2008, 04:44 PM

I wish there was some way to hoard gas at these prices.

1988 Olds · 12-05-2008, 04:53 PM

I know these prices are awesome. I'm bout to fill up some 55 gallon drums and get ready for when they start to go back up lol.

12-05-2008, 03:20 PM	#2
poisonivory Tri-State Addict Join Date: Oct 2007 Location: Philly Member #5979 My Ride: 2010 Lancer GTS iTrader: (0)	i cant...but i dont care. Filling my car for $20 again = WIN __________________ -Mario To view links or images in signatures your post count must be 10 or greater. You currently have 0 signatures.

12-05-2008, 03:20 PM	#3
Elliott18t Tri-State Post Whore Join Date: Oct 2008 Location: Blue bell/Ambler ,PA Member #9456 My Ride: 03 GTI w/ F4h-T 250-260hp goal iTrader: (0)	stock market, futures, demand, opec. don't think the presidential race had to do much with it, but it could have. __________________ To view links or images in signatures your post count must be 10 or greater. You currently have 0 signatures. TST's Dub Cult

12-05-2008, 03:30 PM	#5
Gregory Tri-State Addict Join Date: Feb 2006 Member #1461 My Ride: 1998 Mitsubish Eclipse GS-T, 1999 Jeep Grand Cherokee iTrader: (0)	There is a lot less demand right now, and also, gas prices are always higher in the summer. __________________ ~2gb Mitsubishi Eclipse GS-T ~WJ Jeep Grand Cherokee

12-05-2008, 03:31 PM	#6
Gregory Tri-State Addict Join Date: Feb 2006 Member #1461 My Ride: 1998 Mitsubish Eclipse GS-T, 1999 Jeep Grand Cherokee iTrader: (0)	People drive less when they have no $$$$. Go figure. __________________ ~2gb Mitsubishi Eclipse GS-T ~WJ Jeep Grand Cherokee

12-05-2008, 03:31 PM	#7
Buster TST Ruined My Life! Join Date: May 2005 Location: Holland Pa Member #449 My Ride: 2008 Mustang GT/CS iTrader: (3)	Im kinda mad, I paid 2.19 last night and today it was 2.05 for 93. But it is pretty sweet to fill up for 23.50 __________________ III To view links or images in signatures your post count must be 10 or greater. You currently have 0 signatures.

12-05-2008, 03:29 PM	#4
P_856 Tri-State Addict Join Date: Feb 2007 Location: South Jersey Member #3787 My Ride: s13 iTrader: (4)	mainly because our economy is crappy and the demand for oil is down because people are scared to spend money low demand = lower prices

12-05-2008, 03:34 PM	#8
Kerplunk105 Tri-State Post Whore Join Date: May 2006 Location: Langhorne, PA Member #1967 My Ride: 2007 Subaru Impreza iTrader: (2)	Its $2.05 for 93 near me at work...yay. Its like $25 to fill up __________________ ~Elizabeth~

12-05-2008, 03:42 PM	#10
Gregory Tri-State Addict Join Date: Feb 2006 Member #1461 My Ride: 1998 Mitsubish Eclipse GS-T, 1999 Jeep Grand Cherokee iTrader: (0)	**** now i have to buy a hummer!!@#$ __________________ ~2gb Mitsubishi Eclipse GS-T ~WJ Jeep Grand Cherokee

12-05-2008, 03:44 PM	#12
evogsrviii Tri-State Addict Join Date: Mar 2008 Location: CMCH, NJ Member #7186 My Ride: 05 TB Evo VIII GSR iTrader: (0)	like everyone said, demand is down and the economy is struggling. those are the main factors for the price of oil going down. check out this article: http://www.foxnews.com/story/0,2933,462284,00.html

12-05-2008, 04:25 PM	#17
97TurboDSM TST Ruined My Life! Join Date: Sep 2005 Member #849 My Ride: '03 IY 20th GTI iTrader: (3)	in case you havent noticed, the money market is in shambles right now. that would be the one and only reason __________________ FOR SALE! Canon 5D\|17-40L\|85mm f/1.8\|Sigmalux\|580ex

12-05-2008, 04:44 PM	#19
The Captain Tri-State Post Whore Join Date: Jan 2007 Location: West Philly - FBG$ Member #3369 My Ride: Prelude iTrader: (2)	I wish there was some way to hoard gas at these prices. __________________ Thank you for flying Air force Airlines. Oh me? They call me The Captain. - "America is all about speed - hot, nasty bad-ass speed." Eleanor Roosevelt (1965)

12-05-2008, 04:53 PM	#20
1988 Olds Tri-State Post Whore Join Date: Mar 2005 Location: Levittown, PA Member #201 My Ride: 2012 Chevy Cruze iTrader: (0)	I know these prices are awesome. I'm bout to fill up some 55 gallon drums and get ready for when they start to go back up lol. __________________ 1988 Oldsmobile Cutlass Surpeme Classic To view links or images in signatures your post count must be 10 or greater. You currently have 0 signatures. Dynoed at 237hp and 292lbs at the rear wheels. Hmm ran 13.52 @ 103.42 11/10/06 1994 Hunter Green Acura Integra DB7, Stock

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