Gasoline Price Thread |
Gasoline Price Thread |
Oct 13 2008, 10:32 AM
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#41
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
2.81 here
with snow on the ground and 30 degree temps! Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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Oct 14 2008, 12:54 PM
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#42
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
http://thenewsdispatch.com/main.asp?Sectio...ArticleID=18077
QUOTE home : local news : local news 10/14/2008 11:32:00 AM Email this article • Print this article Around 6 p.m. Monday, the Marathon station on Karwick Road posted regular gasoline prices of $2.98 per gallon. Kristin Miller/The News-Dispatch Fuel prices fall to about $3 a gallon By Kristin Miller The News-Dispatch Struggling economy helps lower oil pricing. MICHIGAN CITY - It seems like cause for celebration. As of 6 p.m. Monday, gasoline was $2.98 a gallon at some stations in Michigan City. And the lower prices came just after the stock market made its worst decline in history last week. But experts say the two don't have anything to do with one another. Demand for oil across the globe has fallen, according to Purdue University-North Central business professor Daniel Rutledge. "The world price of oil dropped to the $80 per barrel mark," Rutledge said, adding there are several reasons gasoline prices have dropped recently. The demand for gasoline and diesel fuel has slackened partially because fewer vehicles are being purchased, he said. The economic slowdown is also a factor. The make-up of gasoline is another cause. In the spring and summer, refineries build up summer blends. Rutledge said he understands that there are as many as 21 blends. Now that fall is here, the winter blend is being circulated. "Winter blend inventories aren't as demanding as summer blends in terms of composition," Rutledge said. Light, sweet crude for November delivery rose $3.49 before settling in at $81.19 a barrel Monday on the New York Mercantile Exchange, after earlier rising as high as $82.52. The contract fell Friday $8.89 to $77.70, the lowest price since Sept. 10, 2007. Falling oil prices have helped drive pump prices down sharply. A gallon of regular sank 4.1 cents overnight for a national average of $3.206, according to AAA, the Oil Price Information Service and Wright Express. The average price per gallon in Indiana is $3.07. Seven states are now seeing average prices below $3 a gallon, including Kansas, Missouri and Ohio. Gas prices should come down even more as U.S. Gulf Coast energy infrastructure continues ramping up after closures caused by Hurricane Ike. But the United States is not the only country seeing a downturn, Rutledge said. China, France, Italy and the United Kingdom are in the midst of the same "problem," he said. Investors are watching for signs that the Organization of the Petroleum Exporting Countries may cut production at a meeting in Vienna, Austria, Nov 18. Iranian Oil Minister Gholam Hossein Nozari on Saturday called for stability in the oil market, saying the biggest challenge now was a decline in oil demand because of a global economic recession. "There won't likely be any overt cuts, but there could be an informal tweaking of production that could provide support for prices," said Victor Shum, an energy analyst at Purvin & Gertz in Singapore. "It's politically unacceptable for OPEC to make cuts in the middle of a global deceleration." The fact that it's an election year seems not to have an effect on prices. In October and November 2004, gas was $1.52 and $1.45 per gallon, respectively. One year ago, gas was $3.12 per gallon, according to AAA's fuelgagereport.com. Rutledge said he couldn't make a guess as to how much cheaper gas could become, now near the $3 mark. But, he said, it could jump back to $4 per gallon by the first part of 2009. "It's a roller coaster," he said. The Associated Press contributed to this report. |
Oct 14 2008, 01:14 PM
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#43
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Spends WAY too much time at CBTL Group: Members Posts: 3,237 Joined: 8-December 06 From: MC Member No.: 3 |
Keep driving less!
The difference between genius and stupidity is that there are limits to genius. Albert Einstein
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Oct 14 2008, 07:54 PM
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#44
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Advanced Member Group: Members Posts: 459 Joined: 4-April 07 Member No.: 182 |
Keep driving less! And keep making fuel economy a top priority when buying car. http://www.fueleconomy.gov is a great site. Put simply, mean reversion is a bitch. -Vitaliy Katsenelson
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Oct 17 2008, 11:05 AM
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#45
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
$2.70 this morning.
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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Oct 19 2008, 09:54 AM
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#46
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
2.88 yesterday.
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Oct 20 2008, 09:35 AM
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#47
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
$2.58 this morning here. It's been dropping a steady 5-7 cents per day here. I can pass the station in the morning, then again at lunch and it will be two cents less. After work it will be another three cents less, then in the evening will drop another two. Amazing!
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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Oct 20 2008, 12:49 PM
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#48
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Really Comfortable Group: Moderator Posts: 2,315 Joined: 10-February 07 From: Michigan City Member No.: 43 |
2.85 here mid-day.
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Oct 27 2008, 06:57 AM
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#49
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
$2.69 in town, but $2.59 in the Pines.
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Oct 27 2008, 08:05 AM
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#50
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Spends WAY too much time at CBTL Group: Members Posts: 3,237 Joined: 8-December 06 From: MC Member No.: 3 |
At Co. Line Road or at Virk's?
The difference between genius and stupidity is that there are limits to genius. Albert Einstein
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Oct 27 2008, 08:21 AM
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#51
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
We're down to $2.20! It keeps going at this rate and we'll be below $2 by the end of the week!
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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Oct 27 2008, 08:54 AM
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#52
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
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Oct 27 2008, 09:45 AM
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#53
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
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Oct 27 2008, 10:54 AM
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#54
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Advanced Member Group: Members Posts: 445 Joined: 24-August 07 From: Kissimmee, FL Member No.: 546 |
I work in South Bend where gas is consistently 20-40 cents a gallon cheaper.
Welcome to the Michigan City Area Schools, we are over budget, over paid, overwhelmed ... |
Oct 30 2008, 08:06 AM
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#55
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
$2.38 when I got on the train this morning.
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Oct 30 2008, 10:54 AM
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#56
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Spends WAY too much time at CBTL Group: Members Posts: 3,237 Joined: 8-December 06 From: MC Member No.: 3 |
$2.37 last night at the station fka Peggy's.
The difference between genius and stupidity is that there are limits to genius. Albert Einstein
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Oct 30 2008, 01:21 PM
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#57
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
$2.15 this morning at the gas station by my office
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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Oct 30 2008, 03:30 PM
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#58
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Really Comfortable Group: Moderator Posts: 2,315 Joined: 10-February 07 From: Michigan City Member No.: 43 |
$2.359 at Speedway (Corner of 421 & 20).
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Nov 3 2008, 01:58 PM
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#59
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Spends WAY too much time at CBTL Group: Admin Posts: 16,426 Joined: 8-December 06 From: Michigan City, IN Member No.: 2 |
$2.21 when I got on the train this morning...
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Nov 3 2008, 02:15 PM
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#60
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Spends WAY too much time at CBTL Group: Admin Posts: 5,171 Joined: 11-December 06 From: Indiana Member No.: 10 |
We finally fell below $2 today. It was 1.98 when I went to lunch and 1.96 when I got back! I hear in Weslaco TX gas is at 1.79!
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind~Dr. Suess
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