I doubt it.
Posted on 02/02/2016 7:28:32 AM PST by thackney
That is very gracious of you, T-Bone.
I have been trying to predict what will happen.
The time reminds me most of the middle 1930’s historically, but we are in uncharted territory.
If my crystal ball clears up, I will put forward a hypothesis!
Filled my car up at $1.36 at the Casey’s General Store in Lexington last night. Could sub-$1 per gallon gas be in our future?
Given that the average per gallon tax (state + fed) is about 50 cents, the tax may become the majority of price.
http://www.api.org/Oil-and-Natural-Gas-Overview/Industry-Economics/Fuel-Taxes/Gasoline-Tax
I doubt it.
Taxes in Missouri are pretty low, about 17 cents a gallon. So I could see it happen...maybe...perhaps...might be...
Missouri taxes are low. And while prices below $1 a gallon may be a pipe dream, a year ago did anyone think it’d be below $2 any time soon
I doubt refining is cheaper, and the cost to distribute is cheaper.
Crude oil was down to 42% of the cost at $2 gasoline.
If crude drops in half from there, it only lowers the cost of gasoline 21%. Those other expenses are not changing much at all.
This time in history reminds me of September 3, 1929 or Rome in 410!
But then, I am a cynic and take a dark view of humanity amd their potential for evil.
$1.41 in Fort Worth.
I paid $1.27/gal in Utica, IL yesterday. Near my home, it’s $1.43/gal.
Filled up th gas guzzling SUV for under $20 yesterday while in Utica. Haven’t seen that low of a proce in .......... 15 years or more??????
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.