Posted on 12/03/2014 6:51:05 PM PST by DaveMSmith
An Oncue Express station in Oklahoma City was selling the motor fuel for $1.99 a gallon Wednesday, becoming the first one to drop below $2 in the U.S. since July 30, 2010, Patrick DeHaan, a senior petroleum analyst at GasBuddy Organization Inc., said by email from Chicago.
"We knew when we saw crude oil prices drop last week that we'd break the $2 threshold pretty soon, but we didn't know if it would happen in South Carolina, Texas, Missouri or Oklahoma," said DeHaan, senior petroleum analyst for Gasbuddy. "Today's national average, $2.74, now makes the current price we pay a whopping 51 cents per gallon less than what we paid a year ago."
(Excerpt) Read more at sj-r.com ...
Maybe $1.30 to $1.50? We haven’t seen prices that low since the Great Deflation in 2008.
$2.73/gal in Lakewood, WA!
It should go as low as the market allows! At this point, it depends upon what OPECs but also what the cost of our own oil production costs are. I do wish that it remains low for the folks but also hope that it does not go so low that it discourages further production via fracking. This really is a balancing problem...heh.
Anything that reduces the control by OPEC is a good thing though so go get em... They are an enemy of this state because of their control of oil prices! Not to mention that is also effects many other countries negatively (almost all of which are against America). So their is that benefit!!.
Sweet. This is boosting pickup and SUV sales nicely.
Hopefully the extra carbon they spew will keep us from freezing to death this winter.
$2.36 near Nashville, TN.
It’s not going to last so might as well get it while you can.
True, but is never going to regain the costs that the Arabs hope for! That is good for us!
It’s time to call for Congressional hearings about price manipulation. After all, we are told that the oil companies have the power to change prices on a whim. Has greed given way to benevolence? We need hearings and gavels and press conferences to figure this out! Immediately! Immediately! Immediately!
Way back in the ‘50s, when the dollar was worth something, we bought gas for $.29/gal. and a new Buick was around $2000. Those were the real “good old days.”
I paid 2.19 here in OKC a few days ago. Sounds like it hasn't hit bottom yet.
Don’t forget the doctor drove that Buick to your house if you were sick.
wow!
$2.59 here in se wisconsin. i doubt it will get below $2.
Gas was $1.43 right before Gulf War in 2003. I remember filling up and joking w someone
I bought gas for $.29 a gallon or less regularly in the late sixties and bought it for $.19 a gallon in 1972 during a gas war. I had a 1966 German made Opel with a ten gallon tank for use as a second car and you could fill the tank for two dollars and drive three hundred miles. Less than a penny a mile for fuel cost in 1972. My pay was a little over three dollars an hour so I could travel three hundred miles on the fuel I could buy with less than forty minutes pay. I was buying choice T-bone steak for $.78 a pound. I was making about one fifty a week between my regular pay and a little VA training allowance on my new job and my new wife was drawing unemployment. We were eating T-bone whenever we felt like it and living it up. I wish I were doing as well now.
$0.19 in Columbia, MO in 1970 or 1971. Central Missouri somehow seemed to have some of the lowest prices in the country. I remember some people saying it was due to the proximity to pipelines.
$0.19 in 1970 dollars is $0.90 in 2014 dollars. So the price in OKC is about twice what I paid in 1970 (in real terms).
Are they getting it from the pump on the front lawn of the capital?
Awesome!
Might be time to move back to help my friends in Yale, Cushing, Oilton, Drumright and Bartlesville.
A supposedly "very smart" person that I know is always going off on how dastardly and greedy the oil companies are when the price of gas is high. I remarked yesterday (tongue in cheek) that since oil companies are such "greedy bastards", I didn't understand why they were allowing prices to go so low. I was met with a blank stare.
I just fueled up at a Chevron in Woodcrest today. Premium is all I can put in the Turbo Volvo, and that was at $3.29 a gallon. A dollar cheaper than it was a month ago, but still up there.
Alfalfa for our two remaining old horses (Yard ornaments) is going for around $22.00-23.00 a bale now. I don’t know which hurts the worst.
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