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Gas prices dropping a little? - 7/25/2008 4:24:38 PM

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We saw $3.75 a couple of days ago.

quote:

Whether or not any bubble has burst, Americans now live in an economy where the prospect of a gallon of gas for less than $4 is cause for relief.

That barrier may be broken as early as this weekend, as a two-week nosedive in crude prices begins to ripple out to gas stations nationwide.

The national average for a gallon of regular pulled back to just above $4 a gallon and oil tumbled to its lowest point in weeks Friday on the belief that prices have yet to reflect just how badly demand has deteriorated in the United States, the world's thirstiest oil consumer.

Prices at the pump are poised to dip even further, and could cost as much as 25 cents less by Labor Day, AAA spokesman Geoff Sundstrom said.

http://news.yahoo.com/s/ap/20080725/ap_on_bi_ge/oil_prices

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RE: Gas prices dropping a little? - 7/25/2008 4:25:28 PM

slaveboyforyou

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I saw it selling for $3.78 a gallon today.

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RE: Gas prices dropping a little? - 7/25/2008 4:47:33 PM

GreedyTop

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3.87 at my usual place today

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RE: Gas prices dropping a little? - 7/25/2008 5:19:05 PM

hizgeorgiapeach

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$3.41 when I filled my van this morning, but down to $3.39 when I drove past a few minutes ago. We never topped $3.89 near my place, and it was down to $3.71 as of 4 days ago.

A mile further away from where I live, it's still sitting at $3.59 - and they're losing a Lot of business because of it, even though a half mile beyond that it's $3.62

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RE: Gas prices dropping a little? - 7/25/2008 5:19:29 PM

ownedgirlie

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$3.15 here today! Wow.

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RE: Gas prices dropping a little? - 7/25/2008 6:22:58 PM

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I've noticed gas and diesel prices inching down for about 10 days now. Nothing significant, unfortunately.

Now if Pelosi and Reed would just allow a vote for drilling... if that were approved significant drops would follow virtually overnight.

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RE: Gas prices dropping a little? - 7/25/2008 7:04:13 PM

thornhappy

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It takes years for a field to start production, even more with complex drilling environment. It takes years to bring on refineries, too. There's nothing that will drop prices immediately, unless you want to stop major demand overnight.

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RE: Gas prices dropping a little? - 7/25/2008 7:58:02 PM

Vendaval

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The prices are still high here, $4.55, $4.65 and $4.75.

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RE: Gas prices dropping a little? - 7/25/2008 8:01:48 PM

Thadius

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quote:

ORIGINAL: thornhappy

It takes years for a field to start production, even more with complex drilling environment. It takes years to bring on refineries, too. There's nothing that will drop prices immediately, unless you want to stop major demand overnight.

thornhappy

I am all for researching and developing new technologies to reduce the need for oil. However, the point about how long it takes to start production or get a refinery online, actually reenforce the need to do something now. That one single point has been used to stall both proposals for years now, just think about what the current situation would be if drilling and refineries had been approved 5 or 10 years ago....

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RE: Gas prices dropping a little? - 7/25/2008 8:07:10 PM

SilverWulf

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quote:

ORIGINAL: thornhappy

It takes years for a field to start production, even more with complex drilling environment. It takes years to bring on refineries, too. There's nothing that will drop prices immediately, unless you want to stop major demand overnight.

thornhappy

Absolutely wrong.

A new field can be brought into production in a matter of months, on dry land. New wells in an existing field can be producing in as little as one month.

Off shore majorly complex deep water drilling may take up to 3 years for production to begin.

Existing refineries can expand their production capabilities in a matter of months, if they were allowed to do so. The increasingly draconian environmental lobby will not allow it to happen at the moment.

No matter how long it takes, the sooner it starts the sooner that oil will be in the pipeline. Waiting or whining about how long it might take is ridiculous. If the drilling in ANWR would have started a few years ago, that oil would have already been available for awhile now. A major portion of the logistics and infrastructure to extract the oil from shale in Colorado is already in place and has been for many years, if the companies would be allowed to go to work that oil would be available in a very short amount of time.

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RE: Gas prices dropping a little? - 7/25/2008 8:29:18 PM

Maya2001

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I said this earlier that we should see prices come down http://www.collarchat.com/m_1976377/mpage_2/tm.htm

Prices are dropping here in ontario as well

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RE: Gas prices dropping a little? - 7/25/2008 10:31:10 PM

DesFIP

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Down to 3.29 from a high of 3.37. Hope it keeps falling.

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RE: Gas prices dropping a little? - 7/25/2008 10:35:58 PM

Leatherist

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No doubt, the news that the auto makers are dropping the gas guzzler lines in favor of more efficient models has something to do with it as well. That's got to be scaring the crap out of the oil companies and market speculators. Especially with more and more hydrogen fuel cell technologies coming in to make it go even further.

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RE: Gas prices dropping a little? - 7/26/2008 12:38:36 AM

DomKen

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quote:

ORIGINAL: SilverWulf

quote:

ORIGINAL: thornhappy

It takes years for a field to start production, even more with complex drilling environment. It takes years to bring on refineries, too. There's nothing that will drop prices immediately, unless you want to stop major demand overnight.

thornhappy

Absolutely wrong.

A new field can be brought into production in a matter of months, on dry land. New wells in an existing field can be producing in as little as one month.

Off shore majorly complex deep water drilling may take up to 3 years for production to begin.

Existing refineries can expand their production capabilities in a matter of months, if they were allowed to do so. The increasingly draconian environmental lobby will not allow it to happen at the moment.

No matter how long it takes, the sooner it starts the sooner that oil will be in the pipeline. Waiting or whining about how long it might take is ridiculous. If the drilling in ANWR would have started a few years ago, that oil would have already been available for awhile now. A major portion of the logistics and infrastructure to extract the oil from shale in Colorado is already in place and has been for many years, if the companies would be allowed to go to work that oil would be available in a very short amount of time.

Funny thing is the oil companies presently have leases that allow pretty much unlimited exploitation of proven oil fields bigger than the rosiest estimate of what is under ANWR. It's called the NPR-A and it lies just east of ANWR and they've had access to it for years but nothing is being done. While the unproven potential field under ANWR is the obsession of the oil companies. Heck some of them have mineral leases right next to ANWR, why not slant drill under ANWR if getting that oil is so important? I wonder if maybe they don't want to expand supply for some reason?

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RE: Gas prices dropping a little? - 7/26/2008 5:27:54 AM

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My uncle has a capped well in his front yard. Apparently, they found oil in Arkansas and they capped the wells for later use. Several of his neighbors' wells have recently been brought online and he is hoping for the same to happen to his.

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RE: Gas prices dropping a little? - 7/26/2008 6:17:56 AM

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$3.65 this morning at China Mart, errrr, Wal-Mart.

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RE: Gas prices dropping a little? - 7/26/2008 7:01:26 AM

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quote:

ORIGINAL: Level

$3.65 this morning at China Mart, errrr, Wal-Mart.

Pretty sad when gas below $4.00 a gallon is a reason for excitement isn't it? Doesn't seem like it was that long ago that gas over $1.00 was the most ridiculous thing we had ever heard of. Just goes to show you that when you have been bent over at the gas pump long enough, getting to stand up straight once in a while is a relief...lol. I guess we have been properly trained now, ya think....hmmmm.

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RE: Gas prices dropping a little? - 7/26/2008 7:06:20 AM

sambamanslilgirl

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there's no change in prices here - still above $4.30

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RE: Gas prices dropping a little? - 7/26/2008 7:17:49 AM

EbonyPhoenix68

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They dropped a little this week in my area; yesterday, the price of unleaded gas fell to a low as $3.88 a gallon. But it's still too high any way you see it.

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RE: Gas prices dropping a little? - 7/26/2008 7:50:28 AM

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quote:

ORIGINAL: ScooterTrash

quote:

ORIGINAL: Level

$3.65 this morning at China Mart, errrr, Wal-Mart.

Pretty sad when gas below $4.00 a gallon is a reason for excitement isn't it? Doesn't seem like it was that long ago that gas over $1.00 was the most ridiculous thing we had ever heard of. Just goes to show you that when you have been bent over at the gas pump long enough, getting to stand up straight once in a while is a relief...lol. I guess we have been properly trained now, ya think....hmmmm.

Hey Scooter, long time no see. Yep, it is damned sad, I agree , I felt like I was winning the freaking lottery when I saw it this morning.

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