Eye Nosh: Is This the Best Pastrami in America?
Zenyatta Makes "Her"Story
Pixies 'Doolittle' @ The Palladium 11/4/09
-thumb-110x110-455795.jpg)
Build Your Own BBQ for Under 10 Bucks!
The Bravery @ the Wiltern 11/05/09
Last Thursday for a regular gallon of gas in Los Angeles: $3.45. Today: $3.25. But will this trend continue downward? Not so fast, says Jeff Siegel at Treehugger: "The fact is, a weakening economy has created fertile ground for falling gas prices. And this is not likely to ease up in the short-term. However, folks shouldn't get too comfortable. Because while economic downturns and recessionary times don't last forever – depleted fossil fuels do. And that's why these lower gas prices represent nothing more than a blip."
Gas Prices Drop 20-Cents in a Week
add to stumble upon
add to reddit
tweet this
post to facebookComments (7) [rss]
Post a comment (Comment Policy)
Tips
Contribute
Latest Tip:
Any ideas why the 110 off/on ramps will be shut down for 1 year starting tomorrow from the hours of
[more]
Argggg! I refilled last Thursday!
why is the price per gallon not dropping further quicker? price per barrel of oil spiked at around $150 last summer - price per gallon spiked at roughly $4.50ish.
price per barrel is about $68 - or more than 50% decline.
why isn't gas at $2.25 a gallon?
at $3.25 we have only a 30% decline - where is my extra 20%?
Ven NM - your extra 20% is at Exxon, etc. Consumer prices are much stickier than Input prices. Doesn't matter how "low" oil prices (inputs) get, when gas prices fall, they are stickier because they are localized to local competition - not to the world market, and Exxon will only lower their Gas prices when the BP across the street lowers theirs. In places where there is more competition (in general, cities), prices will lower more quickly than in locations where there is less. Look for corners with 3 gas stations on different corners of the intersection.
In short - your 20% is at Exxon, BP, etc.
> why is the price per gallon not dropping further quicker?
If prices are driven by the price of a barrel of oil, as demonstrated when barrel prices began to rise last summer, then ven rn is right, they should be much lower.
This is just the oil companies trying to make a few more billion on our backs.
"...where is my extra 20%?"
LOL! That's a rhetorical question, right?
"This is just the oil companies trying to make a few more billion on our backs."
And keep their billions in R&D subsidies too!
I just paid $2.75 a gallon.... in Tacoma, Washington. That's right- a tank of gas for $42.00. I can't stop smiling.
I've spent zero dollars on zero tanks of gas in the past month since I decided to get rid of the car entirely. I'm so happy to have no more paying for gas (which had become rare as I biked more), no more parking tickets, no more insurance payments. Need to start figuring out what I will do with all this extra money. Maybe I will start putting some in my mattress in case my bank collapses.