Fuel Prices Continue to Drop

The beauty of owning aPrius is that I don't care personally if gas prices go up or down.

 

Remember How Oil Prices Threatened The Recovery? Look At Them Now - Forbes

The key is the Iran oil sanctions, scheduled to take effect on July 1. The markets are either expecting that the talks on June 18-19 in Moscow will provide a nuclear compromise so that sanctions don't take effect, or that other Opec countries can make up the production shortfall.

There is also the syrian situation going on. Iran funds and arms two terrorist groups - Hamas and Hezbollah through syria. Hamas has now switched sides and no longer supports the syrian government. This may cause iran to stop funding and arming Hamas. If Syria falls, Iran may no longer be able to arm Hezbollah. Those things may make it easier for a compromise to be reached.

Hamas has already stated it will not attack Israel, if Israel attacks Iranian nuclear sites. This makes the worst case scenario of the US getting dragged into a Iran/Israeli war unlikely

 

i read it was the economy and demand. 3 bucks in south carolina.

 

no different in bay area-CA. lol over $4 for regular

 

This is consistent with what many of us said in posts last couple months.
On the one hand, there is an argument gaso prices may go up. On the other hand there was an argument prices may go down. Profound, I know. Not selling my Prius in any case.

Prices way down here from peak at $4.10+ or so now under $3.50

 

They haven't dropped much here in the Bay Area. It seems that many expensive stations have dropped their prices a bit while some of the formerly cheaper ones aren't so cheap. Despite
San Jose Gas Prices - Find Cheap Gas Prices in California
showing a few stations below $4/gal, I haven't seen one yet.

 

haven't seen one for months . lol omg. I hate living here. planing to move out early next year. can't afford the rent and gas. I am glad I traded my civic for PC.

 

Can someone explain why Oregon, Washington and California always are so much more expensive?
Oregon may finally be trending downward, but gasoline here is still way above the national average at around $4.15 a gallon.
What usually happens is before it drops too far, something happens that makes prices increase....and magically Oregon is quick to increase if the trend is an increase in price, but slow to trend downward. So it seems in Oregon we rarely see the benefit of lower gas prices.
We are a coastal state, I've never understood why gas is typically always ahead of the national average. It's always been this way...or for as long as I can remember.

 

It probably has a whole lot to do with this:

 

This trend is likely to continue given that the economy is reaching stall speed again, UK economy now in recession officially and the rest of Europe facing contraction as well. The US may fare better but still go down with it to a degree.

The world economy as a whole is slowing down. I fear the ammunition was blown getting it barely scraped out of the last one.

I said elsewhere that the huge gas prices some were predicting for this year were not going to happen because they'd crush the economy, but even I thought we'd end up with a good chance of seeing a national record price this year and now I'm not so sure at all of that. With the momentum slowing, it will pull down demand and hurt oil sales as it does every single time.

 

They're going up here. Went up 6 cents per litre a few days ago, and rumoured to go up another 6 cents or so in the next few days. I filled up last night (first time for Pearl S). So I'm good for a month.

Oh, and the price of gasoline is not based on the per barrel oil price, it's based on the greed factor of the oil companies.

 

There is variance, but ultimately it is highly motivated by crude prices...

 

Taxes are one reason, but the bigger reason was refinery shut downs. All but one are back up, and that should be restarted in a week.

You are at the mercy of california's refineries, and california's government is encouraging them to charge more not less.

 

Well I suppose it is a factor. But the difference between lowest tax, and highest is only about 10-13 cents...so that would only explain that level of difference. Infact Oregon at 49.4 is almost exactly representative of the complete national average. I'm willing to credit the tax rate some, but it doesn't seem that it should account for the usually massive difference.

 

But..but...but... Sarah Palin said we have to drill baby to reduce gas prices.