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

[Derek Ortt]

oil now under 44 per barrell as it tanked yet again today. Rapidly approaching the $40 mark (which I remember, 5 years ago, everyone was complaining that oil had reached $40 per barrell)

[Stephanie]

$1.59 per gallon for regular.

[HURAKAN]

I pumped gas today for $1.89.

[senorpepr]

Gas on base is down to $2.107/gal. Off base, it's about $5.452/gal.

Back home, the price is $1.379/gal.

[senorpepr]

Just got word that gas on base will be $2.020/gal effective Saturday morning.

[HURAKAN]

Oil falls below $44 a barrel, gas hits new low
Some say oil price could tumble below $40 by the end of the year

[gtalum]

Gulf Oil CEO says gas could hit $1 next year

Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year.

MORE...

[lurkey]

I saw the first gas station in Zebulon hit below $1.50/gallon today on http://www.raleighgasprices.com. . . The cheapest in Raleigh is $1.59/gallon. . .

The weird thing is I am stilll acting like its 3.59/gallon. . .

[Ed Mahmoud]

Rumor has it Key Energy Services had a big layoff of rig crews at one of their yards in Louisiana, and had the local parish sheriff's deputies on hand to make sure the fired workers left without making a scene.


Our local workover rig contractor in North Texas has cut his hourly rates by $20 an hour, as he is starting to lose business.

Natural gas prices are falling as well, and the DFW area Barnett Shale gas wells are very expensive to drill and complete, and I expect massive layoffs in the North Texas drilling market are impending.


No bailouts from Congress for them...

[Derek Ortt]

Gas on base is down to $2.107/gal. Off base, it's about $5.452/gal.

Back home, the price is $1.379/gal.

1.37?

We need those prices here in Miami!

[Derek Ortt]

nearly at $40 now. The bubble has most certainly burst, like the NASDAQ bubble of 2000 (and we have never even came close to recovering from that burst)

[senorpepr]

Gas on base is down to $2.107/gal. Off base, it's about $5.452/gal.

Back home, the price is $1.379/gal.

1.37?

We need those prices here in Miami!

Now it's $1.339

[Derek Ortt]

cheapest I've seen in the part of Miami I frequent is $1.87. I suspect it will fall to about 1.60 in the coming days due to the tanking of oil again

[JonathanBelles]

I saw 1.72 yesterday here.

[MGC]

$1.55 here on the coast.....MGC

[lurkey]

I saw the first gas station in Zebulon hit below $1.50/gallon today on http://www.raleighgasprices.com. . . The cheapest in Raleigh is $1.59/gallon. . .

.

1.37/gallon in Zebulon. . . The cheapest in Raleigh is $1.54/gallon and I paid 1.56/gallon this afternoon. . .

[Cryomaniac]

How low can it go?

[HURAKAN]

In Fort Lauderdale, FL, it was $1.73 this past Sunday.

[HURAKAN]

[HURAKAN]

How low can it go?

I don't expect OPEC to allow the price to continue going down. My Natural Disasters professor says that this sudden drop in the price of oil is simply because of the fear that oil companies have that we may change to another source of energy in the near future. Remember that when the price of oil was at its maximum, there was a lot of talk about changing to biodiesel and other sources of energy. There isn't a lot of talk now in the newspapers or TV about it.