Gas prices becoming almost bearable

[Greg Goodfellow]

Regular now down to $3.10. I've heard that it's $2.99 in Parkersburg.

[cgarison]

Saw $3.15 in Croydon, PA within the hour. South Jersey has dropped below $2.70 earlier this week.

Note: NJ does not have state taxes on gasoline.

[cgarison]

Filled the land Yacht for $2.99 down the street from the office today. Not bad for southeastern PA although I was in Bristol and not Philly.

And I do not want to talk about why I was at work today.

[AmpedNow]

It's fun to hear OPEC wail because the prices are "only" $80... Guess them and everybody else thought that <$120 prices were here to stay.

[Dr. Whiplash]

Check this out from ohiogasprices.com:

Ohio low price: $2.55 in Sandusky
Ohio high price: $3.37 in South Point

Must be the transportation cost from the refinery to Lawrence County. Right?

[Lester]

Sh!t... still 3.69 here.

[Hoosier Daddy]

$3.05 here. Daddy is doing the Happy Dance.

[cgarison]

Seeing Philly have lower gas prices this year than the Ohio Valley and south is just nothing more than paybacks for summer 2006 when I was paying $3.50-$3.60 a gallon for gas due to a flubbed market switch from MTBE blended gasoline to ethanol blended gasoline. I don't think gas broke much past $3.00 in the rest of the country that year.

[cgarison]

Seeing Philly have lower gas prices this year than the Ohio Valley and south is just nothing more than paybacks for summer 2006 when I was paying $3.50-$3.60 a gallon for gas due to a flubbed market switch from MTBE blended gasoline to ethanol blended gasoline. I don't think gas broke much past $3.00 in the rest of the country that year.

[Lester]

$3.05 here. Daddy is doing the Happy Dance.

Why? (As I remind my wife frequently... that's only a "good price" compared to last month!)

[Greg Goodfellow]

We're now down to $2.99!

[Arp2]

$3.05 here. Daddy is doing the Happy Dance.

That doesn't make sense.

When your assigned talking points told you to repeat the "we're being gouged" line, the difference between the wholesale price and the price at the pump was as low as ~40 cents a gallon. Over the weekend, the difference between wholesale and your pump was $1.20.

Now is when you're being "gouged"......
(not really "gouged" either time)

I'm wanting $2.29 right now and $1.99 within a few weeks......

[cgarison]

I'm wanting $2.29 right now and $1.99 within a few weeks......

That is a little low, but the price rally should be closer to $2.70-$2.80 a gallon.

That price would go down a quarter if they increase the interest rates by 1/4%. Dollar could be real strong by the end of the year with the right .

[Dave Allen]

Was told it was $2.50 in Cincy.

[genlock]

$2.55 in Sandusky.
Lowest in Ohio.
Don't know why.

Logan Speedways are among highest prices in WV.
Cheapest WV gas is in Parkersburg area.
Don't know why.

[cgarison]

Appears that northern areas are being supplied by gas coming from refineries along the east coast (Delaware Valley & north Jersey) which purchase crude from overseas.

Areas in the south are supplied by refineries that purchase oil that is shipped from the gulf coast. That supply is still tight due to the majority of platforms in the Gulf of Mexico have yet to begin production since Ike. With that oil shut in, all the pipelines from the gulf coast are being filled from tankers from overseas.

And that is based on statements from API.

For the record, I think it is bullsh** because all oil in northern Ohio and western PA comes from pipelines from the gulf coast. In fact, I know the people that were leading the inspections the ones owned by Sun Transportation in PA and OH.

[Arp2]

I'm wanting $2.29 right now and $1.99 within a few weeks......

That is a little low....

Here in the comfortably-priced midwest, pump prices are historically 45-65 cents above RBOB. With RBOB at 1.83 last Friday, we could have seen $2.29 but didn't. Now, with RBOB at ~1.97 this morning, $2.49 might be the best I/we can expect soon...on the other hand, there are those looking to get crack spreads back into reasonably profitable areas, soooo.........

If the south didn't have the supply issues it does, I wonder if, say, Georgia could have already seen $1.99.......

That price would go down a quarter if they increase the interest rates by 1/4%. Dollar could be real strong by the end of the year with the right .

I think the odds of an increase are zilch before next year, but the dollar could very well strengthen anyway based on relative value and security. I mean, the knee-jerk Europeans were quick to criticize, but their "solutions" were far more knee-jerk than ours, have revealed their financial institutions to be probably more leveraged and on much shakier ground than ours, represent greater shares of GDP than ours, and still have to get argued out among -- what? -- 27 currencies....

[Big Media]

This should shut everyone up.

Here's the real reason gas is expensive:

http://www.inbetweenmeals.com/2008/09/a ... dubai.html

[jag]

Rather than "shut everyone up," it might better open the discussion as to whether this vulgar degree of opulence is because gasoline is so expensive OR if gasoline is so expensive because of this vulgar degree of opulence.

[Lester]

I'd be more inclined to think Dubai knows it won't last forever, and are making strides to ensure an existence after oil.