mmarshall

Do you have a chart or a record showing $1.50 in 2008? The graphs I've seen show a minimum of around $2.00 for the year.....and the max, of course, way up there above $4.

J.P.

This is for texas, fastest one I can find and not spending any more time looking.

http://www.randomuseless.info/gasprice/gasprice.html

If I recall we hit 1.40's low 1.50 here at the bottom in michigan

People always want to talk about what gas peaked at and never talk about how low it went when the bottom fell out and how long it stayed under $3..............

IS-SV

$1.50 or $2.00 low, who cares about 50cents. Regardless the low hit right after the highest prices peaked in 2008, interesting.

J.P.

And its not like demand fell off by 80%..........

Other market forces are screwing with the price, not the demand.

Which is why I am not running around and spending money on a small car to save money on gas, prices will keep going up and down like this and when the average over several years is $6 maybe I will think about it.

mmarshall

Thanks. Texas, of course, has some of the lowest-priced gas in the country, especially at cut-rate stations, but you're right....it does show a low of around $1.60 (close enough, IMO).

The price-drop from the summer of 2008 to the late-fall was remarkable...we've, of course, discussed it in other threads. It can't be proved, of course, but there is a defnite possibility that the price was somehow manipulated for that huge drop-off from $4.00+ that summer to under $2.00 just before the November elections that year.

mmarshall

Probably not you or me, but for those who live from paycheck-to-paycheck, long-haul truckers, taxi-drivers, and others who buy a lot of fuel from one day to the next, it's significant.

Considering how it dropped from $4.00+ that summer to under $2.00 in just a couple of months (with the national elections in November), interesting indeed....see my reply to J.P. above.

J.P.

The pattern reminds me of what the Enron Energy traders did with electricity, and with oil the same is happening with any bad news out of the Middle East……

(good) Commodity traders make a killing as long as the markets are moving.

Manipulation can also be happening to push a groups agenda, such as those that want to push for alt energy, small cars, green tech etc etc, what better way to force people into your agenda, artificially drive up gas prices.

In the end its 99% of Americans taking it up the **** because of a handful of people.

mmarshall

Tension in the Mid-East always seem to drive up oil prices one way or another. This happens over and above the normal laws of supply-and demand, purely based on anticipation of shortages, not waiting for real, actual ones.

If we ever actually get around to converting to alternate-fuel vehicles and a decent alternate-fuel infrastructure, then most people won't be taking it up the a** anymore. I see that as more than just a political agenda in the sense that you are using the term....sooner or later, world oil-reserves are going to run out, and I don't see where we have any choice in the long run. It's not a Democratic or Republican issue, but an issue if the private-car, as personal-transportation, can survive as we know it.

Jewcano

iTrader: (4)

That's fine and well, but as I've stated before, what good will all this advancement do when the economy is doing so bad and many people won't be able to afford getting rid of their cars? Are you suggesting at that point more Cash for Clunkers programs subsidized by the tax payers? When is enough, enough? Best course of action is to look at alternatives, yes, BUT at the same token, drill/process more oil/gas here and harness our own resources.

Fizzboy7

That's true. However, I guarantee you we'll hear about more record profits coming up. In fact, that's been a trend for a few years now. The record profits are perfectly aligned with the high prices of the last few years. Coincidence?

mmarshall

I actually addressed that issue in another post. No matter what the Senate and White House might think, I don't see the Republican and Tea-Party House willing to commit more Federal dollars for a Cash-for-Clunkers, Round 2....subsidizing auto sales.

And as far as the issue you raised of many people getting rid of their vehicles, some simply don't want to.......they bought large, gas-guzzlers because they needed to tow boats, carry heavy loads, or haul around a lot of kids, packages, and groceries. Their needs often aren't going to change whether gas is $1.00 or $8.00 a gallon. If push comes to shove (and, of course, it sometimes does with high gas prices) they simply won't drive as much, and cut back as much as feasible. That might mean no family driving-vacation, for instance.

I also agree with you about more drilling.....In the short run, have always supported that. But drilling is not the answer forever.......we've got to start looking at other sources.

RXSF

4.35 at my local Chevron Station for Supreme

J.P.

The real question is, what is a reasonable price to pay for a gallon right now in 2011?

At $3, not sure I can ***** about it, maybe not even 3.50 after looking at inflation...........

LIMS407

just watch inside job,,,enough said,,

SLegacy99

$2.75 to $3.00 seems reasonable to me...but at the same time, with the price of fuel in other countries what it is, it's all relative.