Gas prices

[tedly]

I've heard prices will stay low for a couple of years. That would be nice. Seems like OPEC can sell oil for $80 a barrel and make money while Iran and Russia need to make $110 a barrel. This way they can put the hurt on them. Also the US is producing 9 million barrels a day and SA does 9.3 a day. They see US as a economic thread to the oil industry.

They're trying to push out all the domestic fracking and other, more expensive techniques we're using here by making them unprofitable. Russia's economy is taking a huge hit from this, oil is a big part of their GDP. Prices just dropped to $59.95 a barrel, so we may see further drops at the pump.

http://www.marketwatch.com/investing/future/clf5

[BigAL]

They're trying to push out all the domestic fracking and other, more expensive techniques we're using here by making them unprofitable. Russia's economy is taking a huge hit from this, oil is a big part of their GDP. Prices just dropped to $59.95 a barrel, so we may see further drops at the pump.

http://www.marketwatch.com/investing/future/clf5

$1.25 here we come!!!!!!

I also heard Pork and Chicken should be dropping in price, but Beef is going to stay high for awhile, guess someone forget they need to breed more of cows.

[hotrodfords]

I commute 88 miles a day. This low price gas stuff is great!

[sueunit]

I filled up with E85 today @ 2.26/gal. Never used it before, I'll see how bluebelle likes it.

[70chevyC-10]

in the short term the gas prices are good - in the long term my 401K is taking a beating again -

[Big Dave]

Low oil prices are already having an effect here with rigs being released, starts with the smaller producers first. Seeing this in Texas and North Dakota now. Those who drill for Natural Gas aren't effected as much. I expect to see $40 / barrel by summer. Although we'll see some cheap gas prices it will put many oilfield workers out of work and it takes a long time to get geared back up again. But this has happened many times in this industry. Hopefully we will get the refineries needed built on the east coast so natural gas can be liquefied and shipped to Europe. Anyway enjoy the low gas prices for now.

[JOES66FURY]

$1.25 here we come!!!!!!

I also heard Pork and Chicken should be dropping in price, but Beef is going to stay high for awhile, guess someone forget they need to breed more of cows.

Beef prices are high to to the record drought throughout Texas and the mid-west..four year worth...only getting 22 percent of the annual rainfall...Aint had a steak in awhile..but the money I save on gas could go to buying some beef....noms...

[68scott385]

$2.31 this morning. With our Kroger fuel points we got $1 off 35 gallons. Enjoying it while it lasts.

[tedly]

If gas prices stay down, are we going to see a price drop on everything across the board? One of the reasons everything got so expensive so quickly is the cost of shipping products got way out of hand with fuel prices. Find something within 20 miles of you that didn't get there by car or truck at some point. See what I mean? Now that shipping costs are dropping, how long will it have to stay low before everything else starts dropping?

[Beagle]

If gas prices stay down, are we going to see a price drop on everything across the board? One of the reasons everything got so expensive so quickly is the cost of shipping products got way out of hand with fuel prices. Find something within 20 miles of you that didn't get there by car or truck at some point. See what I mean? Now that shipping costs are dropping, how long will it have to stay low before everything else starts dropping?

HAHAHAHHAHAHAHAHAHA... cough cough HAHHAHAHAHHAHAHAHHA... HAHAHHA cough HAHAHA cough cough cough.

I'd guess the answer will be "No."



kinda not though. My retirement estimates were made before everything doubled in one term of our current administration.

[corvettedad]

That would be the RIGHT thing to do, well on the bright side I paid $2.77 for premium 93 today.

[Beagle]

faltering consumer demand would help but nobody is going to stop eating, so what are your choices to influence the market? Grow your own organic food? Not as easy as it sounds.

[tedly]

I already do that when I can.

Every business across the board has been hurt by higher prices. There will be an upswing in spending in general, just because people now have more money to spend, but smart business owners know that if they drop their prices customer count will jump up. It may take awhile to trickle through the layers before it's feasible for many, but it should happen given time.

[BigAL]

$2.21 as of today.

$2.47 for Premium.

[Scott Liggett]

If gas prices stay down, are we going to see a price drop on everything across the board? One of the reasons everything got so expensive so quickly is the cost of shipping products got way out of hand with fuel prices. Find something within 20 miles of you that didn't get there by car or truck at some point. See what I mean? Now that shipping costs are dropping, how long will it have to stay low before everything else starts dropping?

Gasoline and diesel prices are separate, it seems. Diesel is what is burned by trucks and trains to move products around the country. Here in Nebraska, diesel prices haven't dropped nearly as fast as gas prices. I don't expect product prices to drop very fast as long as diesel prices stay higher.

What is also interesting that gas prices are quickly getting as low as E85 fuel prices. They are currently within 10 cents of each other.