Oil price over $147 for the first time-now above $80

[lurkey]

And gas price wars continue in Zebulon, and Wendell , where gas prices tumble to 2.25/gallon . . . . over to the west, at my new favorite gas station, in Cary, prices fall to 2.45/gallon (2.25/gallon with a car wash . . gee, my car is awfully clean on the outside . . ) In the rest of the Raleigh/Wake County area, prices fall to the 2.50 - 2.65 (my formerly favorite gas station is at 2.62/gallon) price range .. . .

[Matt-hurricanewatcher]

I hope it drops below 40 dollars per gallon. We can hope.

[CajunMama]

I found out why the prices here are higher. Though i did pay $2.60/gallon today.

...It's a legitimate question. Don Briggs, President of the Louisiana Oil and Gas Company says there are two main factors determining the amount we pay for our gas .

Louisiana imports a majority of its gas meaning the price of crude oil is more expensive.

"In the central part of the country the crude oil they use is refined so their gasoline is all local," said Don Briggs.

The other reason, Louisiana is still using a summer blend gasoline to meet EPA standards. Summer blends cost more to make.

"This is the period of time where all that gets changed out and we go to a different blend," said Briggs.

Entire article here

[Dionne]

That's very interesting....I've never heard the term "summer blend" before. Gonna have to research that stuff....

[tomboudreau]

The summer blend is suppose to produce less exhaust and ozone in the summer time. There are signs on the gas pumps up here that say they use this blend from april 15th, I believe, until sept 15th, again I believe.

[MGC]

$1.98.9 a gallon in Gulfport today....long time since I've seen gas below 2 bucks.....MGC

[Stephanie]

$1.98.9 a gallon in Gulfport today....long time since I've seen gas below 2 bucks.....MGC

Can you even imagine? I bought regular at $2.13 yesterday. Who would've thought it would even go below $2.00?

[Squarethecircle]

The gas stations out in the Blue Ridge (best part of VA!!) have gas at the reasonably low price of $1.95 - 2.10. We drive the sixty four miles out there to buy gas every week.

[CajunMama]

stc, you're driving 64 miles to buy gas that is just a little cheaper? Isn't that defeating your saving money? and it's 64 miles one way??? so add up a couple of hours driving time plus the gas you use to get there...it doesn't seem worth all the trouble to save what, a couple of bucks for a tank of gas?

[lurkey]

I think gas prices might tumble to < 2.00/gallon by the weekend in Wendell and Zebulon . . still too far to drive. But in Garner (right next to Raleigh) it is currently 2.09/gallon -- more reasonable place to drive to . . . The highest in Raleigh is 2.79/gallon today

[vbhoutex]

The new HEB opening near my house has gas for 188.9. Figures I don't need gas in either vehicle right now. It's tempting to go top off just to say I have bought gas that cheap for the first time in I don't know how long.

[lurkey]

The new HEB opening near my house has gas for 188.9. Figures I don't need gas in either vehicle right now. It's tempting to go top off just to say I have bought gas that cheap for the first time in I don't know how long.

188.9/gallon? *makes note not to buy gas in Texas*

[vbhoutex]

The new HEB opening near my house has gas for 188.9. Figures I don't need gas in either vehicle right now. It's tempting to go top off just to say I have bought gas that cheap for the first time in I don't know how long.

188.9/gallon? *makes note not to buy gas in Texas*

Hey, you know everything is BIGGER IN TEXAS!!!!

[Matt-hurricanewatcher]

I believe that the gas prices droped because of the lifting of the ban on offshore drilling. I think the gas prices will go to 5 dollars next summer. Do you agree with this?

[JonathanBelles]

I believe that the gas prices droped because of the lifting of the ban on offshore drilling. I think the gas prices will go to 5 dollars next summer. Do you agree with this?

I dont know what your logic is. With the lift on the ban, there will be more supply with about equal or seasonal demand, prices will go down or remain the same.

[lurkey]

I believe that the gas prices droped because of the lifting of the ban on offshore drilling. I think the gas prices will go to 5 dollars next summer. Do you agree with this?

Disagree with the reason for the gas price drop. . . was speculator-induced hysteria, the fall of the US dollar and someone/something attempting to monkey around with the US economy.. The closure of the gas and oil loophole in the Enron-inspired legislation that came out of the attempt to jack up electricity in the Southwest helped with reducing prices. I am little suspicious about all the hysteria that led to higher prices . .. how much of this was purely psychological . . .


Haven't we talked about this before?

[gtalum]

I believe that the gas prices droped because of the lifting of the ban on offshore drilling. I think the gas prices will go to 5 dollars next summer. Do you agree with this?

Oil and gasoline prices dropped because the global economy has slowed significantly, which means there is significantly less demand for oil. I wouldn't look for prices to rise dramatically any time next year.

[lurkey]

. . . 4 gas stations in Raleigh have jumped ahead of the gas stations in Zebulon and Wendell by dropping the price of regular to 2.07/gallon. . . .

ETA: it is now 5 gas stations that are at 2.07/gallon

[MGC]

I doubt the world wide economy has slowed to reflect a 50% reduction in the cost of gas in only a few months. Yes, the economy slowing has helped ease the price we pay at the pump but I think there was a oil bubble that burst. The speculators were the sole cause of the high prices this summer.....MGC

[lurkey]

bought gas for $1.97/gallon this morning. . .