Rising Gas Prices

[HRx]

Well gas prices have dropped to below $2.99 in my area now...but there are still a few gas stations with prices above $3.00 though. Hopefully, gas prices continue to drop to the low/mid $2.00 price!

[JRScott]

Its still very high here in North Carolina.

[FLBK7]

Well gas prices have dropped to below $2.99 in my area now...but there are still a few gas stations with prices above $3.00 though. Hopefully, gas prices continue to drop to the low/mid $2.00 price!

Wow! Here it's nowhere near the $3.00 mark. I gassed up yesterday at $3.32 and that was at BJ's which is generally the cheapest in my area.

[HRx]

Gas has fallen to the $2.97 mark at many stations up here now! Let's hope all with all the bailout and rescue plans the government has in effect, doesn't cause gas prices to reinflate again!

[Tbornetun]

Gas has dropped to $2.65 a gallon here. It is about time!!

[HRx]

While the recent drop in gas prices are GREAT the prices are still to high!! The entire world has been getting fleeced on extremely inflated gas prices for the past 4 years now, and it needs to STOP!

[BKOnce]

No worry.. next year , gas will be at $2.00/gal... and continues to $1.50... by the time I will wash my car with it... & spill it with $0.99 cents (per hot dog)

[HRx]

$1.50 gas prices is definatley an idea that possible in terms of supply and demand. But due to the past four recents of record breaking profits that gas had made Bill Oil and large stake investors, we will probably be hard pressed to see gas prices drop to that vanglorious prices again! lol

[NowImDownInIt]

They're 2.79 here. 1.50 would be great, but I REALLY like my job here in the Oil/Gas refining field.

[WhatMoney]

Caution - "I told you so" message follows.

From post#856, this thread, on July 9, 2008:

Getting back to gas prices - I'll make a prediction:
Just before the November 2008 election oil will be selling for under $90/bbl and gasoline prices will be under $2.50/gallon in some areas of the country.

I hope I'm really all wrong on this one though:

Oh, and after the election oil will go back to $175/bbl and regular gas will be at $6/gallon by late spring of 2009.

[NowImDownInIt]

Caution - "I told you so" message follows.

From post#856, this thread, on July 9, 2008:



I hope I'm really all wrong on this one though:

As far as I can see, it should continue dropping, then hold steady until at least next Spring.

[Mi Bankruptcy]

2.99 In Michigan

[oldhack]

When I entered the job market out of college back in 1980, I earned $200 weekly, or $5 an hour. The average price of a gallon of gasoline passed $1 that year, or a half-percent of my weekly salary. To equal that same ratio today, I'd have to be paying $4.42+ per gallon, or 10% higher than it got here at its summertime high this year.
We've had cheap gas so long we feel entitled to it. But, with most American oil companies drilling only a fraction of what domestic consumers demand, they're having to buy it on the open market, too. Why does everyone assume they're making a killing? In fact, Wal-Mart and most other retailers keep more of every dollar taken in than Exxon does. The fact that Exxon takes in far more dollars is as much our fault as theirs -- but their profit margin is sub-par.

[WhatMoney]

Why does everyone assume they're making a killing? In fact, Wal-Mart and most other retailers keep more of every dollar taken in than Exxon does. The fact that Exxon takes in far more dollars is as much our fault as theirs -- but their profit margin is sub-par.

That's not what their latest annual reports say:

Exxon:
Profit Margin 10.17%
Operating Margin: 15.72%
Return on Assets: 17.04%
Revenue: $429.28 Billion
Gross Profit: $171.70 Billion

Wal-Mart:
Profit Margin: 3.38%
Operating Margin: 5.83%
Return on Assets: 8.94%
Revenue: $397.38 Billion
Gross Profit: $92.28 Billion

[AngelinaCat]

The prices in our area have been dropping like lead weights for the past week or so. Sometimes they would drop several cents in the course of one day. Yesterday, the all time low for unleaded that I could see in our area was $3.12, deisel $3.65. Today they have rebounded a bit at an average of $3.17 for unleaded, and $3.70 for deisel.

We had to make a service call to a community about 35 miles northwest of us, and their all-time low was a Kangaroo selling unleaded for $3.05. They had a line of vehicles around the block.