"Unreal" gas pricies (1 Viewer)

[Julie K]

$1.11 here and still dropping about .02 every 2-3 days.

 

[Jonathan Burk]

$1.07 in Southern Cal!
I'm curious as to what could be "bad" about low gas prices. I always felt that the price of gasoline was controlled by supply and demand (free-market capatilist that I am), and the current low prices seem to justify that. I mean, who could seriously accuse the gas companies of "gouging" consumers with >$2.00/gallon gas prices, and then a few months later voluntarily halving gas prices! I find that preposterous.
I also think low gas prices can have no adverse effects (except for increased pollution, where I think reasonable goverment controls are appropriate). As long as the price of gas is allowed to fluctuate with supply and demand, with no artificial caps (set by government) or minimums (set by industry collusion or government subsidies) , the price will reflect the current supply against how much people want it. Can we run out? No. Or shall I say, can we run out? If we did, no one would care! Why? Here's why:
As the supply of gas gets shorter, the price of gas goes up. That makes it more profitable to refine more gas, so there will be more gas refined, increasing the supply and stabailizing the price, in addition to people taking measures to use less gas (as has happened this year!).
If the real supply of gas ever approached 0, the price of gas would increase proportionally (and infinitely). (That's why diamond miners don't unearth all the diamonds they can, they just produce enough diamonds to keep the industry supplied at a profitable rate.) As happened, people would naturally seek alternate forms of energy for their cars. (That's why electric cars have such a hard time catching on. Gas is so much cheaper and better, for now!) Restated: As the supply of gas grows smaller, there will be a gradual, painless, and profitable migration to alternate forms of fuel. It will happen naturally, with no encouragement from the government needed, let alone government research or grants. Some people may wish to hurry this process along by force, but there is no need to.
As long as our environment is protected by reasonable measures, a steady supply of gasoline priced to reflect supply and demand can only help our economy grow, and raise our standard of living.
Cheers, and no, I don't work in the auto/oil industry.

 

[Sean Conklin]

[lame Butthead impression]HEHE HEHE HEHE You said Butte [/lame Butthead impression]

[beavis voice]Oh yeahh, uh huh huhuh... Butte....huh uh[/beavis voice]

[beavis voice]Yeah, and it says we are a "MEMBER"...uhh uh huh...yea.[/beavis voice]

 

[Scott Strang]

0.97 here in West Monroe, LA

 

[Jeff Brooks]

My understanding is that in the northern suburbs of Atlanta, we are right on the shipping pipeline, and that is why ours is always the lowest. Problem is, I have to drive 25 miles each way to work, like most people here, and we use alot, so I'm sure the demand has something to do with it, as well.

 

[brentl]

We are looking at $3.78l = 1 U.S. gallon.

1 l in Canada cost about 30cents U.s.

about $1.10 here ....up to about $1.30 depending on the market ... yeah right

Brent L

 

[RonR]

It was 90 or 91 cents here in Oklahoma City today, cant remember which as a cute blonde was just walking out as I was driving by.

 

[Danny R]

76.9-Buford/Suwanee GA!

Yup, its a sweet spot alright. I filled up this morning for 79 cents. Looks like there are several HTF members in this area.

 

[John Besse]

You bastards up North. I dont get it! We're at .95-.99 right now. I shouldn't be complaining at all!
I want a Motorcycle

 

[Jon_B]

Still holding pretty steady here. Of course Butte is a lot closer to the oil refinerys.
Jon

 

[Rob Longmore]

really cheap here in sydney at the moment, $3.80 per gal.

 

[AaronNWilson]

Last year I was able to get a gallon for 65 cents US. Of course there was a bit of a price war then with arco and their bully boy tactics.

Aaron

 

[Rob Lutter]

today I got regular gas at Shell in Fort Lauderdale...
$1.09 a gallon... no complaining here

 

[Alan K]

99.9 cents/gallon today. I haven't seen it go below a buck a gallon in Los Angeles since about '95.

 

[Carlo_M]

Just visiteed a friend in Seal Beach and had to fill up at the Chevron despite having 1/3 of a tank left:

0.99 for 87 octane--at a Chevron! I can't remember the last time I saw gas for under a buck at a Chevron in So-Cal.

Of course I paid $1.06 since I buy mid-grade 89, but still!

 

[RobertR]

99 cents in Orange County. Excellent post, Jonathan!

 

[Thomas_Berg]

$.99 in Fort Worth right now. i live in San Antonio and it's been down to ~$.86/gal recently. i remember one time about 2-3 yrs back it got down to $.78/gal!

 

[AdrianJ]

It's now down to $0.969 in sunny Melbourne, Florida. I'd be interested to know what gas peaked at around the country. It was $1.50 here a year ago.

 

[Eric Kahn]

Diesel is $1.59 down the street from my house where gas is $1.09
at the truck stop in KY diesel is $1.02
guess where I get mine
Sorry, I have a Diesel VW