Gas prices


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dingdong
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Gas prices

Postby dingdong » Wed Dec 03, 2014 8:30 am



The gas price dropped to $2.09 here in OKC today. They predict $1.99 in a couple of days. WOW! Scary, What is going on I wonder? Probably getting ready to raise the fed tax rate. I'm not paranoid but they out to get us. ;) :? :lol:


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Re: Gas prices

Postby virgilmobile » Wed Dec 03, 2014 2:38 pm

My personal opinion.....beware...

I believe that the USA consumer has gotten tired of buying "made in China" products and getting junk that they throw away cause it fell apart the next week...

Consumers (that's us) wanted inexpensive stuff....Low price(high profit) demanding Wallyworld and others like them,got the notion to accept the bids from China and others over there rather than the USA market.....good for there economy and Wallyworld..bad for ours.
To fill the gluttony, China had to purchase crude oil at any price so they could make this junk....
the price of oil went through the roof and our gas prices along with it...

You have heard that the China economy is now poor...They are no longer high bidding for all that crude oil driving up the price....

There stuff isn't selling that well....Proof.??? count how many Dollar tree,dollar general stores,etc opened up around you....There a "made in China" junk shop....even the batteries there are made in china.

China just doesn't have the money coming in....

At the peak of our purchasing junk stuff,crude oil went for well over $100/barrel....What is it now..Below $75.??? The demand just fell off....

Unwittingly or not,I believe the USA consumers are ultimately the direct result of the lower prices.....
Thanks everybody for buying USA products and trying to support the USA before anybody else... :D

Do I like Walmart.???...Absolutly NO...I have no desire to help the economy of another country before my own....
Next time your in there...I dare you to find ANY footwear that is not made in China....
In fact,Here in this metro area and surrounding towns,there's only ONE shoe store that actually has Made in the USA shoes....
My high priced Wallyworld(China made) work boot soles both split apart after just 5 weeks...Then I had to buy a tube of "made in China" shoegoo to fix them....Sheesh. :evil:

Try to get over the "I just want it now"....and get back to the "I want the good stuff"

Gas prices going down....No...there getting back to normal because the consumers are wanting
MADE IN AMERICA.....
Lets keep it that way...

Like my soap box???
Virgil

dkorody
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Re: Gas prices

Postby dkorody » Thu Dec 04, 2014 1:39 am

your lucky to have gas that cheap ours went down to 1.00 a liter or 3.78 in your gallons.

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redial
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Re: Gas prices

Postby redial » Thu Dec 04, 2014 1:47 am

With the price of oil slumping, because the OPEC members want to produce oil, but the major customer, USA, is just about self-sufficient for the time being, but we in the "Lucky Country" are relishing the idea of only paying $1.36/litre (multiply by 3.89 for US gallons, and 4,54 for Imp Gallons). Takes the pleasure out of motoring, and moving more towards motor cycling. :o
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Re: Gas prices

Postby dkorody » Thu Dec 04, 2014 2:49 am

what gets me is were sending oil to the states and they have cheaper gas prices we also have a surplus of oil. our gas is taxed to hell

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themainviking
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Re: Gas prices

Postby themainviking » Thu Dec 04, 2014 7:34 am

dkorody wrote:what gets me is were sending oil to the states and they have cheaper gas prices we also have a surplus of oil. our gas is taxed to hell


Actually that is "selling" oil to the states, and our dollar is worth 12% less. This combined with the difference in what we are taxed on fuel and what they tax on fuel, as well as the fact that they have more refineries by far, and all that explains why we pay more here. Also, the oil producers in Canada sell to our refineries, probably at higher cost than they sell to US refineries. It is the cost of living in this fantastic country.
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Re: Gas prices

Postby dingdong » Thu Dec 04, 2014 8:01 am

Dropped to $1.98 today. How low can it go?

Virgil, I agree about the Chinese made products and the effect that they have here. However Warmart isn't the only guilty party. Went shopping for my grand kids Christmas gifts and there are absolutely no toys made anywhere except China. None. I will add that a lot of the products from China are made to the specs of the American "and Canadian" companies that have moved their mfg operations there. :( All in all it's mostly our own fault for accepting this garbage. Bah humbug! :( :x
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Re: Gas prices

Postby FM-USA » Thu Dec 04, 2014 3:34 pm

This is JUST a little info, not fuel for anyone's fire.
I listen to the oil annalists and where crude oil price should be. This includes averaging in Shale Oil. That price "should be" around $42 to $47 per barrel. But we hear the oil industry can't continue under $70 per-barrel.
YAH-RIGHT, I believe they're loudly crying because there EXTREME profits are cut back to normal profits.
.
Circa 1970's:
"OPEC rose to international prominence during this decade, as its Member Countries took control of their domestic petroleum industries and acquired a major say in the pricing of crude oil on world markets."
Key words: "Took control."
As we know the oil crisis of 1973. Oil rose very dramatically and never really came down to normal since.
For a time in the mid 90's was fine for fuel prices. I was in a Chicago suburb and fuel was about $1.39 gallon.
.
As far as I'm concerned, OPEC can not dictate crude oil prices if every oil producing nation is not involved. That would be just like oBLAHma and his "mighty pen" and "executive order". Both must change.
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dingdong
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Re: Gas prices

Postby dingdong » Fri Dec 05, 2014 8:39 am

Another tidbit of info: Average petro corp profit for "gasoline" sales per gallon: $0.08. Federal taxes for gasoline per gallon: $0.18½. Hmmm?
Tom

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HawkeyeGL1200
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Re: Gas prices

Postby HawkeyeGL1200 » Sat Dec 06, 2014 9:53 am

There have been many articles written on the falling gasoline prices of late. One author wrote that "price per barrel" was so hard to predict that oil futures weren't being purchased by many at this time, as by the time the futures mature, it is predicted that cost per barrel will be below the current futures offerings.. It is also written that OPEC is trying to force companies who practice fracking out of the market by selling oil at prices below that which it costs to get oil out of the ground through the fracking process... I've also read where falling oil prices are BAD for the US economy... something called deflation..

I don't know about the rest of the world, but when gasoline (and other petroleum products) cost less, my life is better. Fuel prices in Virginia have fallen about $1 per gallon over the past few months. I saw gas for $2.34 / US gallon yesterday, and there doesn't seem to be a bottom in sight for price per gallon gasoline. OKC Oklahoma reported had gas for $1.99/gallon this week. When I spend less on gas, it allows me to spend more elsewhere. The price of transportation for everything moved by internal combustion engine goes down, and it increases the value (in my mind at least) of every dollar I have in my pocket. If a person has been considering a large purchase (durable goods like a new car, appliances or even a new home) having more disposable income as a result of lower gas prices has to be a good thing, as people feel better about life in general and are more willing to spend money... which means more retail sales.. and potentially more jobs.

I know it is hard to find US made products... perhaps it is hard to find those made in Canada too, I don't know. My hope is that with falling costs to produce products here... maybe, just maybe, some of the jobs will come home again. I'd like to see these corporate tax incentives for moving companies overseas revoked, but I'm realist enough to know that probably isn't going to happen anytime soon... so, I buy what I can that is made in the US, and do what I can to support local businesses, even if it means paying a few pennies more for a product... It's the little things that can make a difference, and supporting small businesses is one way we can keep jobs and businesses on the local level alive and thriving...

So, someone explain to me again how falling gas prices are bad for the economy? LOL... that logic makes no sense to a simpleton like me.
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Re: Gas prices

Postby Mag » Sat Dec 06, 2014 10:01 am

Just have to say ..."$2.95" here which seems to be such a bargain. With my Monte Carlo getting 25 mpg, the Wing at 35 mpg, and my truck sits on the property because of 13 mpg,....oh, and I commute 135 miles a day. This is definitely a savings for me when I can lower my fuel bill by 25%.

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Re: Gas prices

Postby dtrider » Sat Dec 06, 2014 11:00 am

virgilmobile wrote:You have heard that the China economy is now poor...


I won't even pretend to be an expert on oil prices or even the economy in general. However I just saw an article a couple days ago where the U.S. is now the world's #2 economy - behind China:
http://finance.yahoo.com/news/official- ... 36444.html

Personally I think that economists just interpret and tweak numbers in order to prove whatever political agenda they happen to be working for at the moment.
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Re: Gas prices

Postby rooferx » Sat Dec 06, 2014 2:01 pm

we are at 2.70 $...

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Re: Gas prices

Postby seelyark1 » Sat Dec 06, 2014 5:21 pm

This really gets to me, as I can remember the "gas wars" of the 60s. Then there was no way that you could put $10.00 worth of gas in a 20 gallon tank. Remember one night when it was $.169 and I filled the tank twice. :D Those days are sure long gone. Now the taxes are more than the gas :cry:
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Re: Gas prices

Postby Mag » Sat Dec 06, 2014 5:24 pm

$0.25 per gal for me, and that was when I could not reach the pedals :lol: Don't get my dad started though. And my grandparents are not around so forget the times of "horse and buggy".

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Re: Gas prices

Postby seelyark1 » Sat Dec 06, 2014 5:42 pm

I can remember the horses too. Remember an old blind man who had a horse and buggy. The horse knew where he wanted to go. Never could figure out how. :D
Ride safe, and smart. Asphalt is like #1 grit sandpaper. Dave

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Re: Gas prices

Postby minimac » Sun Dec 07, 2014 6:42 am

The US and OPEC are in cahoots to stick it to Putin and the Russians, by tanking the Russian economy. The Chinese, had been the major client for Russian oil. That's why OPEC hasn't cut their production, which they have done every other time prices fell. Look for crude prices to continue to fall. In the mean time, the Ruble has already been devalued approximately 60%, and the Chinese aren't buying Russian oil. Enjoy it while it lasts, but the bigger picture doesn't bode well if it continues for more than a year.

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Re: Gas prices

Postby Mag » Sun Dec 07, 2014 11:02 am

seelyark1 wrote:I can remember the horses too. Remember an old blind man who had a horse and buggy. The horse knew where he wanted to go. Never could figure out how. :D


I hear sugar cubes and carrots probably would have helped...... :lol: Hell, ol Blind Man probably though he was standing in the middle of a grocery store.....NOT. Horse would be giving that rye smile.

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Re: Gas prices

Postby Pam » Mon Dec 08, 2014 11:00 am

I remember .30 a gallon. Fill your pick up for $5.00 and depending on how much you had in the tank when you started you might have had $ left for some wobbly pops. Wish I had the wage then that I had now. Bought gas yesterday .98 per litre

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Re: Gas prices

Postby Old Wing Man » Mon Dec 08, 2014 12:40 pm

I don't really know how it works, but high oil prices generally are good for the economy and more jobs. It relates to more industry profits so more expansion. It really is amazing how much of our consumer products are related to the price of oil. Short term, low gas is good for our pockets but long term it is a disaster waiting to happen as companies cut back on expansion. Even if you are not into construction directly, you are indirectly regardless of what business you are in. Less construction equals less goods being bought= layoffs in a lot of industries.

About the only thing that low oil prices is good for is food production but then again, it you don't have a job thus no money, then it doesn't matter if food is dirt cheap, you still cant buy it so that industry suffers as well as all the others.




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