Gasoline Cost dropping

[StoneHeartFarm]

Has anybody noticed how fast the cost of gas is dropping? Didn't it drop like this during the Gulf War? Do the Saudi's like us bombing their neighbors or is this the doing of the oil companies or some other agency? Any insight?

SHF

 

[TerryinMD]

Well, I would think that there just might be some extra unrefined oil available due to the troubles with the airline industry.

I think a few weeks prior to 9/11 the OPEC ministers agreed not to increase production to keep oil prices the same. So, I don't think production is up.

Personally, I love it as I guess eveyone else does.

Terry

 

[jinman]

Hey SHF, I agree with Terry. The airlines normally use a tremendous amount of fuel and the lower traffic has produced a glut of fuel. I think it's a case of simple supply and demand. The travel industry is really hurting and the fuel companies have their storage tanks full. I heard that in south TX there was a gas station selling for less than $1/gal. The average price of regular in Brownwood is $1.11/gal. Last night I filled up with diesel in north TX for $1.25/gal. Do you have some numbers on gas prices in your location?

JimI

 

[ERNIEB]

<font color=blue>I heard that in south TX there was a gas station selling for less than $1/gal. </font color=blue>
Here in Bexar county there are at least two stations selling regular at 89.9, and I've seen several at 99.9
The truck stops on IH10 east, are selling diesel for 1.13 to 1.16
Ernie

<P ID="edit"><FONT SIZE=-1>Edited by ERNIEB on 10/21/01 08:04 AM (server time).</FONT></P>

 

[Knight9]

Must be happening everywhere. We've been paying up to $0.75/L here in Alberta and over the last week I've seen it as low as $0.53/L. Got to like that.

Kevin

 

[Bird]

I went and played golf today with my brother and we stopped at Sam's Club on the north side of Waco to fill up his Suburban at $1.019.

Bird

 

[jinman]

Makes you want to fill up those saddle tanks and haul a lot of rock doesn't it, Ernie? If I was in your business, I think I'd be looking to buy a storage tank if I didn't already have one. The prices are bound to go back up pretty soon...or maybe not./w3tcompact/icons/smile.gif

JimI

 

[Andyfr]

Over here in the UK the price has dropped slightly, but it is still the equivalent of over $5.00 a gallon. /w3tcompact/icons/frown.gif

Andrew.

 

[StoneHeartFarm]

While the Airlines aren't flying as much, I understand Uncle Sam has recently seen an increase in frequent flier miles. Do you guys think the airlines have slowed enough to fuel uncle's planes and STILL drop our prices? I knew the big jets used a lot, but I guess I didn't realize how much.

Still seems strange to look up at the sky and not see contrails. Noticed it again the other day, nice sunny day and no big white lines in the sky. Reminds me of when I was a kid, except then I would expect at least one sonic boom every day. Haven't heard one of those in over 30 years. Kinda miss them.

Gas here was $1.70 or so before 911 and is around $1.22 now. I understand that an hour or so south it's down to $1.12. Just dropped about 10 cents from last Monday to Friday.

SHF

 

[gws]

$5/gallon.. Wow!!!! Guess that tea party did up some good after all -
Gas in our area has been under $1.10/gal the last few weeks. Saw it for $1.04 over the weekend.
Diesel is still high $1.45/gal.



Gary.