Could gas fall to $3 a gallon?

Philly.com News ^ | 9/26/11 | Peter Mucha

[cuban leaf]

Thanks. The answer is in your link. When I was keeping track before, Brent and WTI were pretty close. Now Brent is over $100 and WTI is below $80. There has been a disconnect between those for some reason.

Never mind...

[Evil Slayer]

Maybe the EPA making refineries raise the cost of business from all the new regulations? Or, the lack of refineries to process the oil? I'm a bit puzzled too.

[woofer]

$3.00 gas is not cheap, but the voting public have short memories. They are trying to make people think $3.00 gas is “cheap”

Just like every run up in gas prices, it never seems to go down to the previous mean low prices. Always seems to stop at $0.25 - $0.40 higher than before.

My theory is that if you run up gas and diesel prices to the painful level, let it sit there for a month or two and then let the prices 'slip' to a lower price, but higher than before, the people will be so relieved that prices have come down that they accept the new, higher, mean price and quit their bitchin'. But the fuel companies get what they want, and state governments keep quiet because the sales tax portion of the price is producing additional revenue for them to squander.

[cuban leaf]

Carbon credits cooked into the price?

That would REALLY get my dander up!

[Evil Slayer]

I still have my “Drill Here Drill Now” sticker on my back windshield. I’m not taking it off just because the price went down.

[Windflier]

...here in Corpus it’s below 3.19.

I bought regular unleaded yesterday in Wylie, TX (near Dallas) for $3.099 a gallon.

[Windflier]

$10 a gallon in England.

I drove a Jag when I lived there, twenty years ago. Gas was $6.00 a gallon, then. I don't miss it one bit.

[rwfromkansas]

It should be about $3 because the wholesale gas is around $2.58 right now. So, at least based on what the difference is in my area (a little higher gas price because we are oil central), gas should tumble to about $3.05-$3.10 here.

Back home in Kansas, it likely will drop to $2.85 or so since there isn’t near the inflation in prices there.

[The Sons of Liberty]

0bama and his regime run gas prices up from $2.50 to over $4.00 per gallon so we are happy when it falls to $3.00. Meanwhile, they are still not letting us produce nearly the amount of crude here in America that we could, so 0bama's muslims bros continue to hold us hostage.

FUBO GTFO! 481 Days until Noon Jan 20, 2013

[andy58-in-nh]

Many states have increased their taxes and a fair number of them add sales tax and/or environmental fees on top. But overall, you're correct: there is a wider spread between crude oil price per bbl. and retail refined gasoline at the pump than there used to be.

One primary reason appears to be Uncertainty - no one knows what Pres. A**hole is going to do (to us all) next and oil prices are fluctuating in a wider range. As a consequence, wholesalers are charging a bigger markup to both their primary and secondary market customers.

Next, refinery expenses are up - a lot. Why? Because the aforementioned President and his administration will not allow any new refineries to be built in this country, while the old ones are slowly declining both in number and output.

Then, add the cost of new environmental (and other) business regulations that are of course passed on to the consumer.

[rwfromkansas]

That’s what ticks me off about living in Midland (well, not a desert fan either, but the economy is doing great here in oil central).

We are the oil region, yet our prices are always way higher than DFW. Still in the 3.40 range in Midland/Odessa. If you go out west of the Permian Basin like Fort Stockton etc., it’s still around $3.59.

[gunner03]

$3.95 in Colville, Wa

[HiTech RedNeck]

Has Obama put in an SOS call to his Moose buddies in OPEC?

[runninglips]

$3.85 is the cheapest I have seen in Washington state...probably $.09 cheaper in other places. It hasn’t been below $3 in two years....frickin liberals...always raising gas taxes.

[redgolum]

What changed is we got used to paying $3. And it stopped being a poltical issue.

If a GOP president is sworn in, there will be more pressure to lower prices.

[Deo volente]

$3.91 at Unocal stations in Los Angeles, a little lower at Arco.

Many stations in the L.A. area are selling unleaded regular for over $4.

The last time oil was priced this low, gas was selling at around $2.90, so something’s wrong here.

[tnlibertarian]

$3.129 at the usual filling station this morning here in Knox Vegas. Driving with the gas light on, hoping for a drop before tomorrow morning.

[SWEETSUNNYSOUTH]

“$3.60 IN nc.” I just bought it for $3.15 in Martinsville VA. It was $3.60 or so in Greensboro, right across the line.

[RainMan]

Bought yesterday at Costco in Issaquah, still $3.75. Dropped as low as 3.67 in mid-august, then up to 3.75 2 weeks before Labor Day, has not budged since, even tho oil futures have dropped. Gas Buddy tells me still 3.75 at Costco, but 3.64 at Sam’s in Renton. Not enough to justify a trip, but if I am in the neighborhood, I would certainly top off.

[doug from upland]

Now matter the price -— we are still sending our wealth to the Middle East when we could be using our own energy resources and creating jobs for Americans.