Gas $1.99/gallon this morning!!

$2.79 here in Staten Island, NY. Visited my brother in NJ and wanted to get gas. $2.23 there. looked at my gas gauge, only down 1 bar. I can't take advantage of cheap gas all the time anymore. Bye, bye Lincoln TownCar, Hello Prius.:cheer2:

 

Hopefully you're just joking. 'Cause last I checked it was nearly October. No hurricanes in the Gulf, not much reason for gas prices to be doing anything but declining at this time of year.

 

i heard on the news that we jus went thru like the 7th straight week of gas price declines... Well when the hell are they gonna get to us??!!

i last paid $2.859 and its still that and that is steady increase over the same time period...wondering if the fact that most of our oil comes from Alaska is the reason why because we are not seeing any drop

 

Not joking in the least. The low gas prices are an indication of how week the economy really is. The stock market is so far ahead of itself it's just a matter of time before the crowd recognizes it and rushes for the exits again.

 

unfortunately...only a matter time could be days, weeks, or even years

People had been talking about the housing bubble as early as 2003..

 

Days, weeks or months perhaps. Not years. This is a shorter term signal that the economy is not recovering nearly as rapidly as most are banking on (literally.) If I'm right we will begin seeing confirmation of the problems in the next few weeks, months.

The housing bubble was clearly building in the 2003 time frame, but the turning signals were not there yet. I expected it to begin hitting in late 2005, but Katrina and the other hurricanes wiped out so much housing stock that it caused at least a year delay in the housing downturn in the largest region. I began noticing nice homes locally (South at the time) going into foreclosure in Jan. 2007 and a major shift downward in home values there at the same time. By late 2007 neighbors were having trouble selling due to the tumbling appraisals.

I got out early, about the time that the Feds funds rates peaked in 2006. The inevitable drivers were in place, the warnings were all there, and the first major faults in banking began in early 2007, but they were ignored by those most vulnerable to them.

 

Well, it's still hanging high in San Diego at $3.07-ish. Here's a news article that SHOULD be thanking Prius owners/drivers for their influence on this situation.

Gas prices in two-month slide

Demand is way down due to unemployment and the recession.

September 27, 2009: 7:16 PM ET
(CNN) -- Gas prices have dropped seven cents over the past two weeks, continuing a downward slide that has lasted nearly two months, according to a survey published Sunday.
The Lundberg Survey found the average price of a gallon of self-serve regular is $2.52 -- down just over 12 cents since August 7.
Gas prices have "followed crude oil" a little more than penny-for-penny, said survey publisher Trilby Lundberg. Since August 7, crude oil has dropped nearly 12 cents a gallon, she said.
"The reason for both is the supply imbalance," Lundberg said. Supply is plentiful, while "demand is desolate."
"Absent a big upset in supply -- that ever-present possibility -- there's nowhere for gasoline prices to go but down," Lundberg said.
Demand is down due to the recession and mounting unemployment, said Lundberg. "This has punctured demand growth."
The latest survey, which tallied prices at thousands of gas stations on Friday, found the highest average price in Anchorage, Alaska, at $3.29.
The lowest was in St. Louis, Missouri, at $2.16.
Here are the prices in some other cities:
- Honolulu - $3.27
- San Francisco- $3.15
- Boston - $2.57
- Charleston - $2.26
- Atlanta - $2.34
- Chicago - $2.61
- El Paso - $2.44
- Reno - $2.88

 

well gas slowly rose all summer and peaked labor day weekend. it has not dropped a single penny from that weekend. since some articles suggest the price has dropped because of low demand, does that mean the West with its prices not dropping mean that our economy is better??

 

Down here the prices slowly climbed, but in the past week or two gas slid from $3.15-ish to $3.07-ish. I say a lot of credit should go to purchasers of the Prius and other more fuel efficient cars.

 

well, i guess its something to look forward to. probably see lower prices the day they change over to winter formula gas which gets less mileage, so our cost per mile will stay about the same

 

HEY!! just got gas and now i have experienced cheaper gas.

my fillup yesterday was 28 cents per gallon cheaper!! i guess my "biggest" problem is i simply dont get gas that often. but now that winter is here, mileage will be less plus i am probably gonna stop commuting with Zenn so Pri will be used more.

just as FYI, previous fillup was Sept 15... oh well, 28 days between fillups was nice...