Gas prices

Many stations around here are selling it for $1.61. We are in a local discount program ran through our grocery store (Price Chopper and Hy-Vee). I bought gas last Sunday for $1.28 / gallon. :)
 
Cheapest I've seen gas is 2.09 in Eastern PA
We have one of the highest gas taxes, but the roads are not getting any of the money.

Bruce T.
 
$1.89 here in Michigan near the Indiana line. You can't thank Obama for the low prices, you can thank OPEC. With the vast reserves recently discovered in North America and the scramble to extract that gas and oil, OPEC has driven the price down to try to take the profits out of gas and oil to halt exploration and drilling here in North America. To a degree, it's working as many of the US companies are laying off workers due to the falling prices.
 
$1.56/gal here, however Okla. is a billion in the hole budget wise due to loss of production taxes. Have a feeling it's gonna' cost us one way or another.
 
ricky racer":3l0l2wmx said:
$1.89 here in Michigan near the Indiana line. You can't thank Obama for the low prices, you can thank OPEC. With the vast reserves recently discovered in North America and the scramble to extract that gas and oil, OPEC has driven the price down to try to take the profits out of gas and oil to halt exploration and drilling here in North America. To a degree, it's working as many of the US companies are laying off workers due to the falling prices.
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You hit the nail right on the head. This is exactly what is going on. All of that coupled with a lower rise in demand recently make for a perfect storm.
 
The slow Chinese economy* and the warm weather are the main factors. China is bigger than OPEC (regarding economics). At the last OPEC meeting, they would have liked to cut production to boost prices but they realized that it wouldn't work (they would loose revenue because prices wouldn't change much).

The gas tax map posted earlier shows how little bearing tax has on the price of gas. I've never seen a 3-1/2 cent drop in gas prices when I cross from Iowa into Minnesota. On fact, it is often a dime or fifteen higher. The cheapest gas around here is usually at Sam's, which Gas Buddy is showing right now as $1.85. If I go about 40 miles the opposite direction towards MSP, it is $1.66.

* Note, technically it is the slow Chinese economy combined with a relatively strong dollar. The strong dollar is at least in part due to the improved US economy. The dollar is currently running in the high 90s, compared to a record low of 71.32 in April 2008 when Cheney was president.
 
Jim Becker":3u5xnpuq said:
* Note, technically it is the slow Chinese economy combined with a relatively strong dollar. The strong dollar is at least in part due to the improved US economy. The dollar is currently running in the high 90s, compared to a record low of 71.32 in April 2008 when Cheney was president.
Click to expand...
:big smile: LOL!! Good one Mr. Becker! :big smile:
 
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