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GAS PRICES GOING DOWN?





dir3kt0r
has anyone noticed a drop in gas prices? at least here in seattle they are slowly dropping...... knock on wood!
dickyzin
Petrol prices in Sydney have not come down. It's still going up. The gas companies claim that it is due to the weakening of the Australian dollar against the US dollar. I believe that's just another excuse for them to rip people off. We need more electric or hydrogen powered vehicles.
dir3kt0r
american economy crisis somehow makes the prices go down.... at least thats what it seems like\
k_s_baskar
Gas prices to hit 52 weeks low this week (i.e. $60) due to economical problem in US and Europe. But i am waiting for price slashes in fuel for my vehicle. Wink
myocean
well i do expect it will go loower, as this few months the temperature is as high as ever, this will cost the fuel price to go down

with this there wil be substantial reduction in fuel prices and hopefuly this would revive the economy somewhat
bogger
demand drops as people stop buying futures in it, 8c increase per litre in ireland though, taxes ftw Very Happy

it's a temporary drop, imo, good time for airlines to make long term deals
carlos007
Probally gas prices will increase nest months. I notices this kind of trend, every year before winter.
What do you think about it?
bogger


You are correct completely!?

I wonder why that is?
profbis
In tennessee, it has dropped more than a dollar since last week.
Voodoocat
Gas is dropping rapidly here in Atlanta- three weeks ago gas was $4.00/gal, now it is $2.65/gal. Unfortunately, I heard that OPEC wants to reduce oil production in order to increase the price.
Ghost Rider103
In South Dakota it has also been droping, I think it has dropped almost a dollar now.

We were about $3.15 a gallon, and now it's about $3.45.

I think out economy has a pretty big impact on this. It will probably start to raise up again here in the next couple months because of the hollidays.
bogger
supply down, demand constant, price up, simple shit

opec may have just noticed that they can charge w.e they want, and preserve supplies ad infinitum Razz
chi0
Petrol prices have gone pretty nuts here in Japan - they dropped down really low because the government gave a limited subsidy, then that ran out, so it jumped high, and got steadily higher, until about 180yen per litre. Then it started dropping really quickly again, and now it costs about 135yen per litre.

Weird, but I'm definitely not complaining at all about the current price! ^_^
mrcool
gases already dropped down by $70 in our country but still, we are not satisfied as oil companies can't give us a big drop by end users. such greedy.
bogger
when you give anecdotal evidence, please don't state "my country" state what country that is, or enter it in your user profile!
gah.

135 yen = 1.05 which is around 30 cent cheaper than ireland, time to switch to public transport, I feel
mejo1900
I have never noticed that winter gas prices go down, you would think it would be the other way. The winter is so cold (for the US and Europe at least) so people probably drive more and bike/walk/ etc. less. Isn't more demand supposed to equal higher prices?

P.S. Our gass prices just jumped 50 cents today (in southern ohio)..maybe its because of the weekend?
bogger
bank holiday weekend, or just trying to make a quick buck Razz
ptfrances
As the prices of oil, gas prices are going down because of the crisis.
I think it's the on ly good news for citizens of many countries...
MatthijsM90
Good news for an crisis , it's an new step for it, but one question... for how long are the prices low?
dickyzin
Gas prices are still high in Sydney. Unleaded Petrol is about AUD$1.5 per litre and LPG gas is about AUD$0.64 per litre. Still waiting for them to drop. The prices are about the same as when Oil prices were over $100 US Dollars per barrel.
Afaceinthematrix
I think prices in the U.S. may be dropping partially because of the election. I've noticed a decrease in gasoline prices every time there is some sort of big election. I don't know about the rest of the world, though... I'm pretty ignorant when it comes to economics... I'm just stating my observations... gasoline prices tend to drop during and around elections.
jenss
I'm thinking they will start going back up after the US election. Prices typically tend to drop before a presidential election. Here in the Twin Cities, Minnesota, they are close to $2.00/gal. I've seen $2.15 just driving around my home area.

Jen
dickyzin
Petrol prices in Sydney have started to fall to around AU$1.25 per litre. Which is equivalent to US$0.87 per litre, which is equivalent to US$3.30 per US gallon. This is the price of unleaded petrol 91 RON (octane). Is that considered cheap or expensive compared to other countries?
Dean_The_Great
We were paying $1.35 CDN/litre up here in Ontario, but now it's down to around $0.85/litre. Oh yeah! loving the drop in prices for as long as it lasts.
TomGrey
There is no shortage of $150/bbl oil -- there IS a shortage of $50/bbl. Meaning more folks want to buy it at $50 than want to sell it at that price.

The global economic downturn, and temporary increase in the value of the USD (which most oil is priced in), means that most forecasters think the future use of gas (needing oil) will be less. As millions save a little bit, there is more available, and the prices drop.


The gov't should put a stabilization tax on it, now, while it's dropping. So that later, maybe a month maybe a year, they can reduce the tax as the oil prices rise.

Plus, if the gov't wants folks to buy more efficient cars, and to drive less, the way to get them to do this fairly peacefully is thru gas taxes.
bogger
@ tom grey.

A tax which depends on price would be quite painful to implement, think about it.

The reason taxes are fixed mostly is because of shit like that. far too hard to calculate and too reliant on filler-out honesty.
mrcool
we are still expecting for a drop prices of petroleum gases, the big companies here is slowing down the prices while the barrel would only costs $65 now a days...there taking advantage on it...consumers were not satisfied of slowing down the gas prices..
TomGrey
Bogger, your earlier graph is great.

But you're wrong about gas taxes based on prior prices.

There's a daily spot market price, in USD, as well as a volume, total 'demand' is the dollars * volume, and there's a daily, weekly, monthly, and quarterly average.

It's not that hard for the gov't to put a stabilization surtax that varies with the avg weekly or monthly demand, that trends upwards.

The point is for the gov't to influence and stabilize the trend. But that means mostly higher prices, most of the time, with taxes. Well, I'm against income taxes (punishing workers), but favor gas and other pollution taxes (punishing drivers & polluters).

Looking at your nice graph, there should have been about an additional $10/bbl tax in 2006 which would made the effective price about $70, like on the line, rather than $60. As the trend line increases its price, the tax varies according to the spot price. Around Aug/Sep, when both trend and spot prices are about $80, the tax should be starting to go down, and when prices are up at over $110, the tax should even be negative a while ... with the plan to move towards the trend line.


Further, Kyoto should be renegotiated so that the goal is for every gov't to get at least X% of their gov't tax revenue thru gas / carbon (and possibly pollution?) taxes. This should be rising constantly, until there is a sustainable balance.

Of course such gas taxes are carried forward to consumers -- but those buying cheaper Chinese strawberries over more expensive local strawberries will see the locals have less implicit gas tax and the more distant import prices include more gas tax.
nigam
oil prices is slowly dropping down now a days.... i hope it will go back to what prices of the gas we have used to it. so we can have a happy christmas by the next month....
LumberJack
Keep in mind, the price of oil, gas, rice, gold, silver has/had an additional layer to it. The speculative market. Institutional investors, with the dollars to be able to manipulate the market helped to inflate commodities substantially. This additional "demand side" push, inflated prices to a point that even made OPEC jealous. Remember back in May, 2008 when commodity prices were going insane? We were at a point where another speculative bubble had burst.

Now, that everyone is in the process of de-leveraging, that same additional demand factor is now working in the opposite direction. I cannot see the demand for gasoline in Canada, and the North American Supply increasing to the point where gas prices are 50% of what they were a few months ago. It is just unreal, speculative markets should be reigned in.

Canadian and American Gas Prices: (courtesy Gasbuddy.com)

Cdn:
9/17/08: 1.42 CD$/L
Today: 0.85 CD$/L
cyberbuddy
yes Oil prices have come down i think its due to this recession which is a big problem
deanhills
I've seen the oil price coming down, but it will probably take a while for petroleum prices to drop as well. Think those are set locally in the country, and some prices are being supplemented by Government funds. Think is is quite complicated in some of the countries how they arrive at petroleum prices. Perhaps the countries will try and keep it high as long as they practically can.
Oberinjo
Oil prices are going down fast in Croatia, but prices of everything else that raised at the begining of the year due to the raise of oil are still the same and info from our government is that prices wont be changing any time soon. That is very close to robbery.
dickyzin
Unleaded Petrol (92 RON) prices are almost at the AUD$1 per litre mark. Hopefully it will drop further. The gas companies are not passing on the fuel price drops.
Alaskacameradude
Here in Alaska prices are still pretty high. Just paid $3.09 a gallon, and I'm in one of the cheapest cities
in the state......only Anchorage and Fairbanks are cheaper than Juneau where I live.....
dickyzin
Unleaded Petrol is about 95 Australian cents per litre these days in Sydney. LPG gas is about 47 Australian cents per litre.
deanhills
LumberJack wrote:
Keep in mind, the price of oil, gas, rice, gold, silver has/had an additional layer to it. The speculative market. Institutional investors, with the dollars to be able to manipulate the market helped to inflate commodities substantially. This additional "demand side" push, inflated prices to a point that even made OPEC jealous. Remember back in May, 2008 when commodity prices were going insane? We were at a point where another speculative bubble had burst.

Now, that everyone is in the process of de-leveraging, that same additional demand factor is now working in the opposite direction. I cannot see the demand for gasoline in Canada, and the North American Supply increasing to the point where gas prices are 50% of what they were a few months ago. It is just unreal, speculative markets should be reigned in.

Canadian and American Gas Prices: (courtesy Gasbuddy.com)

Cdn:
9/17/08: 1.42 CD$/L
Today: 0.85 CD$/L


Excellent point. Everything, including the stock exchanges were exorbitantly overpriced. I still think the stocks are overpriced. That did not happen overnight, but over a long period of time from the nineties. Speculative markets should have been reigned in a long time ago.
thetinyclam
Oh man I drove around in a car for the first time in 5 months ever since I came home from school, and let me tell u, the last time I filled my tank, it was 4.50 a gallon! Holy shit I can't believe it went down to like 2.00 bucks flat here in California. I figured people would start buying more cars again and help the poor economy instead, but we are in such a shithole. And then all those electric car companies just went bankrupt. Damn that sucks.
dickyzin
Petrol prices has gone back up due to the Christmas holiday season. They better come back down after New Year's day.
Bluedoll
Ok, I must be really dumb. I always thought government controlled gas prices by taxing but here all along it is a world market like anything else.

Gas stinks. To bad we couldn't have better ways to get around and not worry so much how much the gas is at the pump.
deanhills
Bluedoll wrote:
Ok, I must be really dumb. I always thought government controlled gas prices by taxing but here all along it is a world market like anything else.

Gas stinks. To bad we couldn't have better ways to get around and not worry so much how much the gas is at the pump.


You've gotta be joking! I thought it was government controlled too? Has to be! Common sense??? Canada does not import any of its gas or petrol needs. It supplies all its requirements, I did this research a number of months ago. The US on the other hand must be subventing its petrol prices, as it is importing oil from all over the world, no doubt in complicated trade deals, for example even India and Pakistan export oil to the United States. Canada exports enormous quantities of gas and oil to the United States.

Where did the info come from that the gas and petrol needs in Canada are determined by world markets?
LumberJack
Canada's gas prices are pretty much controlled by an oligopoly. We sent a lot to the US of A, and yet pay more for it... go figure.

Want gas prices to go down? Make oil and gas companies increase refining capacities. There has been no substantial increase in North American refining capacities/ additional refineries since the late 70's if I am not mistaken...
LumberJack
thetinyclam wrote:
Oh man I drove around in a car for the first time in 5 months ever since I came home from school, and let me tell u, the last time I filled my tank, it was 4.50 a gallon! Holy shit I can't believe it went down to like 2.00 bucks flat here in California. I figured people would start buying more cars again and help the poor economy instead, but we are in such a shithole. And then all those electric car companies just went bankrupt. Damn that sucks.


We have an electric car company in Canada, the problem is that the government will not allow them on the roads here. So the only customers for the company so far are Americans. Our government is retarded right now... lol

Link here:

http://www.zenncars.com/
deanhills
LumberJack wrote:
Our government is retarded right now... lol


Laughing Well put Lumberjack. I like your way with words! Right on the number.
Blazole
i would be very happy if they stayed at the price the diesil is now. 95 pence per litre. however, i cant see this happening. i think when the finance market picks up. the oil will be more expensive than ever before in history.
deanhills
Blazole wrote:
i would be very happy if they stayed at the price the diesil is now. 95 pence per litre. however, i cant see this happening. i think when the finance market picks up. the oil will be more expensive than ever before in history.


Agreed. This is almost a dead certainty.
dickyzin
Petrol prices have gone up again in Sydney. It was around AUD$1 per litre of unleaded petrol a month ago and now it's AUD$1.20 per litre of unleaded petrol. LPG has gone up about 9cents per litre within 2 weeks.
SpellcasterDX
Prices are going down where I live, but not by that much. Actually, they went back up. It was around $1.60 like in November and now it's at $1.96. Though it seems to have stayed that way for a while. I think it's been like that for a couple of weeks now, which is a good sign. I hope they more or less stay in this range.
kvrss
fuel has become about 1/3 cheaper since last years price maximum.
it is - in my opinion - not the best for our enviroment.
deanhills
kvrss wrote:
it is - in my opinion - not the best for our enviroment.

Good point. Probably one of the largest pollutants the earth has. Such a pity that human beings with their above average skills to design new technology could not have nixed the use for fuel by now. Pollution is really bad. We may not be able to sort this out in our lifetime, and who knows, maybe nature will find its revenge on us one of these days. I'm still looking at some decisions by Obama as the US is one of the greatest sources of pollution, and politicians have been notoriously reluctant to get too involved in environmental issues, which could land it in trouble with its own industry. Mainland China also has real problems with pollution from industry and fuel.
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