Gasoline Prices Drop 22%; Further Declines Are Seen

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JT Moderator	Message Posted: 10/14/2008 10:47:19 AM	Ignore JT Report Abuse
	Tuesday, October 14, 2008 The Wall Street Journal -- HOUSTON -- U.S. gasoline prices have skidded 22% from their highs and may fall further as the economy slows and as refinery operations disrupted by hurricanes return to normal. A gallon of regular gasoline cost on average $3.206 a gallon on Monday, according to AAA's Fuel Gauge Report. Since hitting a peak of $4.114 on July 17, prices in many places have slid below $3 a gallon. Just a few months ago, before the credit crisis reached fever pitch, talk of $5 -- or even $6 gasoline -- was bandied about, underscoring how quickly the outlook for fuel prices has changed. U.S. drivers complained as prices made their way up, as spending on fuel crimped disposable income, but it is unlikely that they will be celebrating with prices on the way down. The global financial crisis and stock-market rout have overtaken pump prices as matters of concern, although the stock market did rebound Monday. Visit The Wall Street Journal for full article

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MacGyver_1701 Champion Author Indiana Posts:5,404 Points:1,186,900 Joined:Feb 2005	Message Posted: 10/15/2008 1:53:17 PM	Ignore MacGyver_1701 Report Abuse
	22% drop, yet crude has nearly a 45% drop. Someone is making a boatload.
EarlyMoose Champion Author Seattle Posts:1,944 Points:717,605 Joined:Dec 2005	Message Posted: 10/15/2008 11:15:43 AM	Ignore EarlyMoose Report Abuse
	Further declines are needed to keep pace with my declining retirement savings.
Kthyme Champion Author Fort Worth Posts:2,945 Points:921,940 Joined:Apr 2006	Message Posted: 10/15/2008 11:08:09 AM	Ignore Kthyme Report Abuse
	Keep it up wwcj...I'm with ya!!! Drill Here... Drill Now... Pay Less!!! ;)
ramshot412 Champion Author Riverside Posts:12,367 Points:1,232,430 Joined:Apr 2004	Message Posted: 10/15/2008 11:07:35 AM	Ignore ramshot412 Report Abuse
	"We will need to use Oil until we replace the combustion engin." You are kidding, right???
wwcj Veteran Author Virginia Posts:429 Points:103,730 Joined:Jul 2008	Message Posted: 10/15/2008 10:57:31 AM	Ignore wwcj Report Abuse
	Just hope that this will not give some the excuse to "Not Drill"! We have to become energy independent, and that means using all forms of energy for the next 10 years or so. We will need to use Oil until we replace the combustion engin.
SUNOIL All-Star Author Toledo Posts:845 Points:442,850 Joined:Jul 2007	Message Posted: 10/15/2008 10:57:03 AM	Ignore SUNOIL Report Abuse
	Good for consumer
Gerund1 Champion Author Toronto Posts:1,191 Points:834,610 Joined:Apr 2003	Message Posted: 10/15/2008 10:55:39 AM	Ignore Gerund1 Report Abuse
	I am so happy for those who are actually benefiting from lower oil prices.
Tatalah Champion Author Los Angeles Posts:2,534 Points:954,465 Joined:May 2003	Message Posted: 10/15/2008 10:52:39 AM	Ignore Tatalah Report Abuse
	90.00 per barrel oil can easily be translated to 4.50 gas. Don't be lulled to sleep. We need to eliminate our oil dependency.
noelblak Sophomore Author Oregon Posts:212 Points:168,570 Joined:Sep 2005	Message Posted: 10/15/2008 10:51:38 AM	Ignore noelblak Report Abuse
	All right
ChiefDrake Sophomore Author Dallas Posts:168 Points:54,210 Joined:Aug 2008	Message Posted: 10/15/2008 10:45:17 AM	Ignore ChiefDrake Report Abuse
	Wouldn't it benefit these oil companies to expedite the repairs on their refineries? Losing money every day 'used to be' a BAD thing. Prices here in Dallas are hovering around $2.98 pg. "Ike shut down 14 Gulf Coast refineries and Exxon Mobil Corp.'s Beaumont refinery still hasn't restarted."
EPA_Regs2Blame All-Star Author Michigan Posts:999 Points:197,605 Joined:Oct 2005	Message Posted: 10/15/2008 10:44:55 AM	Ignore EPA_Regs2Blame Report Abuse
	"Further Declines Are Seen" in the quality of Life...becasuse, after the election, all restrictions will be reinstated. You can fool all of the Sheeple all of the time!" John McKane wants to make you pay for gasoline! - I'm B'rak (H-Word) O'Bamma, and I approve of this message" [Edited by: EPA_Regs2Blame at 10/15/2008 10:45:14 AM EST]
w4kh Champion Author Riverside Posts:3,875 Points:683,570 Joined:May 2004	Message Posted: 10/15/2008 10:43:44 AM	Ignore w4kh Report Abuse
	What we actually need, is incentive to conserve and to make serious changes in our transportation paradigm - we can not afford to have oil and OPEC running our lives!
TBONE3 All-Star Author Pennsylvania Posts:836 Points:402,255 Joined:Mar 2005	Message Posted: 10/15/2008 10:40:01 AM	Ignore TBONE3 Report Abuse
	Good news but we must still drill, drill, drill while we increase fuel MPG and alternative fuels.
Chazzer Champion Author Nevada Posts:8,310 Points:1,772,310 Joined:May 2002	Message Posted: 10/15/2008 10:39:09 AM	Ignore Chazzer Report Abuse
	Let's hope pump prices drop further!
Cuzilla Champion Author Indianapolis Posts:6,165 Points:1,038,225 Joined:Sep 2005	Message Posted: 10/15/2008 10:36:47 AM	Ignore Cuzilla Report Abuse
	Thanks for the good news!
travelzonecente All-Star Author Riverside Posts:768 Points:191,305 Joined:Jun 2008	Message Posted: 10/15/2008 10:36:12 AM	Ignore travelzonecente Report Abuse
	We need all the help we can get.
SeerLV All-Star Author Las Vegas Posts:757 Points:173,665 Joined:Jun 2008	Message Posted: 10/15/2008 10:33:04 AM	Ignore SeerLV Report Abuse
	Oil dropped %40 - %50 depending on when you start counting so gas has a way to go to match that.
RAC110 Veteran Author Massachusetts Posts:403 Points:809,875 Joined:Mar 2003	Message Posted: 10/15/2008 10:31:20 AM	Ignore RAC110 Report Abuse
	They talk a lot but I don`t always see the action .
RBimpreza All-Star Author San Diego Posts:982 Points:218,645 Joined:Mar 2008	Message Posted: 10/15/2008 10:29:34 AM	Ignore RBimpreza Report Abuse
	3.30 here still...........
Don20 Champion Author Oklahoma City Posts:1,769 Points:1,059,010 Joined:Mar 2005	Message Posted: 10/15/2008 10:29:04 AM	Ignore Don20 Report Abuse
	Pump price here today is $2.30 to $2.59 in many station. You can pay more if you want to buy name brand stations.
krucker All-Star Author Austin Posts:778 Points:461,685 Joined:Aug 2004	Message Posted: 10/15/2008 10:28:33 AM	Ignore krucker Report Abuse
	DROP!!!
laoloup Sophomore Author Montreal Posts:114 Points:37,835 Joined:Sep 2008	Message Posted: 10/15/2008 10:28:27 AM	Ignore laoloup Report Abuse
	If it's going down because winter is coming, then it's good. But since it's going down with the economic prospect, it's not a good sign.
fastTC Veteran Author Illinois Posts:444 Points:272,030 Joined:Jan 2007	Message Posted: 10/15/2008 10:27:03 AM	Ignore fastTC Report Abuse
	this is a step in the right direction, but only a beginning. We (the US) need to become self-reliant & produce a majority of our own oil! U.S. workers making an income while prices stabilize at a lower level here.
phatride92 Champion Author Kansas Posts:3,989 Points:985,035 Joined:Oct 2005	Message Posted: 10/15/2008 10:26:58 AM	Ignore phatride92 Report Abuse
	below $2.50 here?
racerdj Champion Author Indianapolis Posts:1,865 Points:477,735 Joined:Jun 2003	Message Posted: 10/15/2008 10:24:18 AM	Ignore racerdj Report Abuse
	I just hope we do not return to our OLD habits and keep on conserving. It's the only way everyone can have a lasting effect on the demand.
ooops Sophomore Author Virginia Posts:170 Points:24,555 Joined:Aug 2008	Message Posted: 10/15/2008 10:17:49 AM	Ignore ooops Report Abuse
	It is now $22.00 cheaper for me to fill up my van as opposed to 4 months ago. Keep going down.
fastfreddy38 All-Star Author Ontario Posts:957 Points:942,635 Joined:Aug 2005	Message Posted: 10/15/2008 10:14:29 AM	Ignore fastfreddy38 Report Abuse
	Good !!!
tapprach Rookie Author Michigan Posts:10 Points:1,650 Joined:Oct 2008	Message Posted: 10/15/2008 10:13:22 AM	Ignore tapprach Report Abuse
	I agree with poker ace. I think this is just temporary. Enjoy it while it lasts.
PokerAce Champion Author Louisiana Posts:1,700 Points:341,930 Joined:Jan 2008	Message Posted: 10/15/2008 10:11:51 AM	Ignore PokerAce Report Abuse
	It will be interesting to see what happens after the election .....
laddyboy62 Champion Author Riverside Posts:1,806 Points:1,039,435 Joined:Mar 2005	Message Posted: 10/15/2008 10:11:33 AM	Ignore laddyboy62 Report Abuse
	keep it coming
hank1326 All-Star Author Los Angeles Posts:754 Points:172,280 Joined:Jun 2008	Message Posted: 10/15/2008 10:08:37 AM	Ignore hank1326 Report Abuse
	Keep on conserving and minimize spending.
wizzard3040 All-Star Author St. Louis Posts:638 Points:214,175 Joined:May 2008	Message Posted: 10/15/2008 10:06:43 AM	Ignore wizzard3040 Report Abuse
	Global economic forcast is/has dropped over the EDGE!
tigeriz Veteran Author Maine Posts:302 Points:73,145 Joined:Aug 2008	Message Posted: 10/15/2008 10:06:12 AM	Ignore tigeriz Report Abuse
	It's one thing to have the price drop; it's another for it to stay low.
NedW All-Star Author Indianapolis Posts:729 Points:179,535 Joined:Mar 2008	Message Posted: 10/15/2008 10:05:57 AM	Ignore NedW Report Abuse
	The trend of reducing the United States of American to 3rd world status by many in our own government and, seemingly, a few of its citizens, continues unabated. There’s a more ‘descriptive’ way of phrasing the last sentence but it would probably not be acceptable on this forum. Please contact your representatives and senators and hold them accountable to their sworn oath to "protect, preserve, and defend” our constitution! That is not only our right but, our responsibility. If you’re unsure of who’s yours are you can find out quickly, as well as how to contact them, by going to the following web sites: Senators www.senate.gov Congressperson www.house.gov
Dennis783 Champion Author Wisconsin Posts:5,823 Points:1,166,545 Joined:Sep 2005	Message Posted: 10/15/2008 10:05:56 AM	Ignore Dennis783 Report Abuse
	it's down 98 cents from a month ago in WI
trucker090 Rookie Author Cleveland Posts:86 Points:76,525 Joined:Sep 2005	Message Posted: 10/15/2008 10:05:52 AM	Ignore trucker090 Report Abuse
	We will see how long this lasts before the start gouging us again..
SilverFoxHMT Veteran Author Riverside Posts:399 Points:159,610 Joined:May 2008	Message Posted: 10/15/2008 10:03:15 AM	Ignore SilverFoxHMT Report Abuse
	Echo tomok!
tomok Champion Author Portland Posts:10,725 Points:764,660 Joined:Aug 2006	Message Posted: 10/15/2008 9:58:28 AM	Ignore tomok Report Abuse
	Prices need to drop and decline more - prices are way too high. Gasoline needs to decline more, more, more. Conserve, conserve, conserve.....
wizzard1222 All-Star Author St. Louis Posts:643 Points:749,550 Joined:Mar 2006	Message Posted: 10/15/2008 9:58:20 AM	Ignore wizzard1222 Report Abuse
	Crude below $75
Gassie1 Champion Author Akron Posts:4,642 Points:610,390 Joined:Apr 2007	Message Posted: 10/15/2008 9:58:06 AM	Ignore Gassie1 Report Abuse
	Now I have a little spending money
kh_in_pv Rookie Author Kansas City Posts:41 Points:115,295 Joined:May 2007	Message Posted: 10/15/2008 9:57:49 AM	Ignore kh_in_pv Report Abuse
	Down to $2.45 outside of Kansas City.
GooseMI Champion Author Grand Rapids Posts:1,947 Points:427,220 Joined:Sep 2007	Message Posted: 10/15/2008 9:56:40 AM	Ignore GooseMI Report Abuse
	Finally seeing $2.99 and less gas.
ww2gas All-Star Author Virginia Posts:709 Points:272,505 Joined:May 2007	Message Posted: 10/15/2008 9:55:29 AM	Ignore ww2gas Report Abuse
	Save the holiday retail industry, drop gas prices now. Down to the lower half of the $2.00 range would be nice (and fair).
NYRfan Veteran Author Cincinnati Posts:343 Points:163,400 Joined:Jul 2006	Message Posted: 10/15/2008 9:55:24 AM	Ignore NYRfan Report Abuse
	decline away, no complaints here [Edited by: NYRfan at 10/15/2008 9:55:38 AM EST]
marsjoe Sophomore Author Pittsburgh Posts:210 Points:122,385 Joined:Oct 2005	Message Posted: 10/15/2008 9:54:41 AM	Ignore marsjoe Report Abuse
	Price is based on what futures cost at the time of purchase.
carryon Rookie Author Greensboro Posts:7 Points:69,965 Joined:Apr 2007	Message Posted: 10/15/2008 9:53:53 AM	Ignore carryon Report Abuse
	North Carolina has the highest prices next to Alaska and Hawaii. I agree with CSharpGuy. the current price per gallon should be significantly lower.
Mark75 Sophomore Author Atlanta Posts:151 Points:72,400 Joined:May 2006	Message Posted: 10/15/2008 9:53:05 AM	Ignore Mark75 Report Abuse
	More money spent on gas, less money spent other places. With the drop in gas prices under $3, from the high we had at $4.39, that is a savings of $54 a week for our two cars. That's $230 a month to save, or use elsewhere. Keep the prices coming down and we can boost our own economy.
kaaato Rookie Author Boston Posts:68 Points:106,010 Joined:May 2007	Message Posted: 10/15/2008 9:52:59 AM	Ignore kaaato Report Abuse
	I find it hard to believe that I am saying that gas is only $2.89 a gal around me - keep it falling.
hondajv Rookie Author Little Rock Posts:98 Points:19,705 Joined:Oct 2008	Message Posted: 10/15/2008 9:52:38 AM	Ignore hondajv Report Abuse
	I agree.......needs to drop below $2.00/gal
andyrew Veteran Author Baltimore Posts:322 Points:109,515 Joined:Aug 2008	Message Posted: 10/15/2008 9:50:18 AM	Ignore andyrew Report Abuse
	funny.... gas is down 22% from its hi in june/july. oil is down almost 50% in the same period. why the difference?

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