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??????
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