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Omaha Steve

(99,703 posts)
Sat Nov 29, 2014, 02:18 PM Nov 2014

Present at the pump: $2 gasoline by Christmas?

Source: Bloomberg-OWH

HOUSTON — For the first time in five years, $2 gasoline is making a comeback in some parts of the U.S., just in time for Christmas.

Retail stations scattered across the South and Midwest are about 20 cents shy of the $2-a-gallon mark. In New York, gasoline futures slid more than 13 cents Friday in response to OPEC’s failure to cut oil production. That decline alone could drag down pump prices by as much as 20 cents a gallon, said Michael Green, a spokesman for AAA.

“We could see the cheapest 1 percent of stations get within a few pennies of $1.99 over the next two weeks,” said Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization in Chicago. “We’ll see at least one station in the nation at $2 by Christmas. And that’s not really a prediction at all. That’s more like a certainty.”

Gasoline prices have slid by almost a dollar a gallon in the U.S. from this year’s peak. The last time the country’s average gas price was below $2 was on March 24, 2009, while in the grips of the recession.

FULL story at link.

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BRENDAN SULLIVAN/THE WORLD-HERALD


Read more: http://www.omaha.com/money/present-at-the-pump-gasoline-by-christmas/article_26d19513-5bb9-5450-90fd-f19a396ee7a2.html

31 replies = new reply since forum marked as read
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Present at the pump: $2 gasoline by Christmas? (Original Post) Omaha Steve Nov 2014 OP
Impossible according to Bakersfield Bumper Stickers: NYC_SKP Nov 2014 #1
Current and even previous gas prices I can handle VScott Nov 2014 #2
I have heard that oil is down, but if you heat w/electric you will pay more. MADem Nov 2014 #4
Another reason to stop Keystone XL... IthinkThereforeIAM Nov 2014 #3
Oil prices are a product of total global supply and demand. former9thward Nov 2014 #18
A boost for the global economy.... paleotn Nov 2014 #5
Funny, it's hovering at $3 still in Michigan Demeter Nov 2014 #6
Yeah, I wonder what all the Michigan Repubs will say if that happens. llmart Nov 2014 #9
It's at $2.39 at the christx30 Nov 2014 #11
Same thing in PA CANDO Nov 2014 #19
Just wait until the oil shale crash and OPEC countries... roamer65 Nov 2014 #7
+1 nt Live and Learn Nov 2014 #17
The renewable energy sources are beating the socks off fossil fuels. Oil crooks are dropping prices. greatlaurel Nov 2014 #8
The oil price drop is economic warefare by OPEC Travis_0004 Dec 2014 #26
Thankful for these lower gasoline prices. SylviaD Nov 2014 #10
And future generations be damned, right? nt Live and Learn Nov 2014 #16
It's almost free for me. mwb970 Nov 2014 #12
Thank you Mr President.. jambo101 Nov 2014 #13
The American advancements in fracking.... Socal31 Nov 2014 #14
This is a "present" only if you are very short-sighted and don't give a damn about the planet. ellenrr Nov 2014 #15
I agree FLPanhandle Nov 2014 #20
Low energy prices help the poor. I should know. n/t SylviaD Nov 2014 #21
And a fucked up climate murders the poor by the millions NickB79 Dec 2014 #23
Thank you for lecturing me about my "position". n/t SylviaD Dec 2014 #24
You're welcome. NickB79 Dec 2014 #25
More Obama evil! BadGimp Nov 2014 #22
it's $2.31 as of yesterday here in north central NM Warpy Dec 2014 #27
What would it cost.... Omaha Steve Dec 2014 #28
Probably too much to make up the difference in price at the pump. Warpy Dec 2014 #29
$1.89 at Kroger the week before last... Orsino Dec 2014 #30
short term economic stimulus greymattermom Dec 2014 #31
 

NYC_SKP

(68,644 posts)
1. Impossible according to Bakersfield Bumper Stickers:
Sat Nov 29, 2014, 02:33 PM
Nov 2014

The following sticker is a lie, for just a blip in the history of prices did if fall below $2.





More lies! I paid $4.00/gallon in 2007 and bought a Prius. Who was president in 2007?



Good post, Steve.

Thanks, Obama!





 

VScott

(774 posts)
2. Current and even previous gas prices I can handle
Sat Nov 29, 2014, 03:27 PM
Nov 2014

It's fuel oil prices that were killing me last winter.

Hopefully, that will go down as well.

MADem

(135,425 posts)
4. I have heard that oil is down, but if you heat w/electric you will pay more.
Sat Nov 29, 2014, 04:42 PM
Nov 2014

Now is the time to get serious w/the LED light bulbs, I guess!

IthinkThereforeIAM

(3,076 posts)
3. Another reason to stop Keystone XL...
Sat Nov 29, 2014, 04:07 PM
Nov 2014

... there is a glut of crude coming out of Bakken and the tar sands, obviously the refineries we have in the midwest and Rocky Mountain area are doing their jobs. Once Keystone XL goes through, all that, "glut", will go to China and prices will go back up. Can I put it any more simpler?

Enjoy!

former9thward

(32,068 posts)
18. Oil prices are a product of total global supply and demand.
Sun Nov 30, 2014, 10:56 AM
Nov 2014

So-called gluts in one country or another is a temporary factor at best.

paleotn

(17,946 posts)
5. A boost for the global economy....
Sat Nov 29, 2014, 05:13 PM
Nov 2014

...but I wouldn't get too use to it. This is a temporary supply abberration. Drops in fossil fuel prices drive increased usage, sopping up the over supply and increasing CO2 emissions at the same time.

 

Demeter

(85,373 posts)
6. Funny, it's hovering at $3 still in Michigan
Sat Nov 29, 2014, 06:11 PM
Nov 2014

and our GOP governor wants to double the gas tax to fix the roads (when 22 cents on each gallon goes for anything but the roads....like supporting the rest of the state budget).

llmart

(15,552 posts)
9. Yeah, I wonder what all the Michigan Repubs will say if that happens.
Sun Nov 30, 2014, 12:07 AM
Nov 2014

Tax and spend Democrats my Aunt Tillie. Wonder if the teabaggers in the state house will stonewall Snyder's tax.

christx30

(6,241 posts)
11. It's at $2.39 at the
Sun Nov 30, 2014, 12:17 AM
Nov 2014

Shell of my Heart near where I live. I'll take that. But I ride the bus, so it's not a big deal to me either way.

 

CANDO

(2,068 posts)
19. Same thing in PA
Sun Nov 30, 2014, 11:03 AM
Nov 2014

We had our R Guv and R legislature give us a hike in the gasoline tax. We are seeing prices still around $3/gal.

roamer65

(36,747 posts)
7. Just wait until the oil shale crash and OPEC countries...
Sat Nov 29, 2014, 06:42 PM
Nov 2014

head to the capital markets to cash in their investments to cover budget shortfalls.

This is gonna get good.

greatlaurel

(2,004 posts)
8. The renewable energy sources are beating the socks off fossil fuels. Oil crooks are dropping prices.
Sat Nov 29, 2014, 06:48 PM
Nov 2014

The fossil fuel barons are desperately trying to stop the change to renewables. We are very close to a tipping point where people will wake up that renewables are the way to go, because we will no longer be dependent on the fossil fuel corporations and their corrupt politicians. The environmental and public health costs of public health costs are being talked about by the Obama administration.

We saw this the last time people starting driving more fuel efficient cars and looking at renewable energy seriously. The oil prices dropped.

Hopefully, people will not be so easily manipulated this time.

 

Travis_0004

(5,417 posts)
26. The oil price drop is economic warefare by OPEC
Mon Dec 1, 2014, 11:10 PM
Dec 2014

Us production is up, and they are fighting back to get oil at levels not profitable for US companies because we have been taking their market share.

SylviaD

(721 posts)
10. Thankful for these lower gasoline prices.
Sun Nov 30, 2014, 12:17 AM
Nov 2014

This is a real break for those of us on limited or fixed incomes. Every penny gasoline prices decline is a bit more cash in the pockets of the poor. The fact that heating oil and natural gas are also declining too is just icing on the cake. I pray for further declines in the price of oil every day. $1.50 gas would be wonderful, wonderful.

mwb970

(11,365 posts)
12. It's almost free for me.
Sun Nov 30, 2014, 06:36 AM
Nov 2014

I shop at one of those grocery stores that give discounts on gas based on how much you spend with them. Lately my band hasn't had many gigs so I have been shopping more than driving. I have accumulated $2.60 off per gallon! I'll have to fill up today on my way to practice, but should get away for under $5!

Socal31

(2,484 posts)
14. The American advancements in fracking....
Sun Nov 30, 2014, 06:49 AM
Nov 2014

As terrible for drinking water and the environment as the practice is (earthquakes anyone?) will go down as one of the most important resource booms in history. For better or worse, it has changed our resource outook for the forseeable future.

Be right back, need to burn off the well water

ellenrr

(3,864 posts)
15. This is a "present" only if you are very short-sighted and don't give a damn about the planet.
Sun Nov 30, 2014, 06:51 AM
Nov 2014

The "present" for the earth would be for gas to be $10.00/a gallon and for people to drive less.
duh.

FLPanhandle

(7,107 posts)
20. I agree
Sun Nov 30, 2014, 11:09 AM
Nov 2014

Alternative energy technologies can't compete against cheap oil.

People will drive more, buy bigger cars, have less green energy options, and pump more CO2 into the atmosphere.

Sooner or later we have to get off of the fossil fuel wagon, this just delays the inevitable and makes the planet worse in the meantime.

NickB79

(19,258 posts)
23. And a fucked up climate murders the poor by the millions
Mon Dec 1, 2014, 04:26 PM
Dec 2014

The help you get from low gas prices in the short term is a death sentence for millions in the long term.

It is an impossible position to hope for cheap, plentiful fossil fuels and also claim to care about the health of the planet.

NickB79

(19,258 posts)
25. You're welcome.
Mon Dec 1, 2014, 11:07 PM
Dec 2014

Sorry to come off as a dick, but it's far past the point where we can dance around the subject any longer or keep our heads in the sand.

The ice caps are melting. The forests are dying. The oceans are acidifying.

Any hope of putting the brakes on this runaway climate train REQUIRES that fossil fuels be very, very expensive. I fully understand the economic damage this will cause to millions in the short term, but also realize it will prevent even more suffering to far more people in the long term. There is simply no other way to do it.

Warpy

(111,332 posts)
27. it's $2.31 as of yesterday here in north central NM
Mon Dec 1, 2014, 11:39 PM
Dec 2014

Switching to gasohol in the fall always brings the price down a few pennies.

As for the overall price going down, it all depends on how long the world wants to put the screws to Putin.

greymattermom

(5,754 posts)
31. short term economic stimulus
Tue Dec 2, 2014, 01:19 PM
Dec 2014

That congress would never consider. A tax cut for the poor, whatever you call it, it will help the economy in the short term. It can't last, of course.

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