Gas prices in the United States will be "closer to $2 than $3 come Thanksgiving," says Fred Rozell, gasoline analyst at the Oil Price Information Service. The U.S. average for a gallon of gasoline peaked this year at $3.036 on August 10th. It then fell a two-month low of $2.89 on August 25th. That downward trend is likely to continue through autumn, Rozell told USA Today. The price of oil fell to $69.71 a barrel yesterday — the lowest level since May 4th. Wholesale gas prices are also falling rapidly, meaning stations are making more money than when prices were $3. Prices were around $1.78 yesterday — compared to the normal $2.00-plus over most of the summer.
On a similar note, GM is also showing a working hydrogen fuel cell prototype today. It's not all that pretty but at least it is a step in the right direction.
GM demonstrates working Sequel fuel cell prototype
General Motors today will allow journalists to drive a working version of its Sequel concept, which the automaker says will be sold as a Chevrolet. Sequel was introduced in 2005 at the North American International Auto Show in Detroit. GM says it's the first vehicle in the world to successfully integrate a hydrogen fuel cell propulsion system with a broad menu of advanced technologies such as steer-and brake-by-wire controls, wheel hub motors, lithium-ion batteries and a lightweight aluminum structure. "Sequel fundamentally changes the DNA of today's automobiles … exchanging an internal combustion engine, petroleum and mechanical systems for fuel cell propulsion, hydrogen and electrical systems," R&D vice president Larry Burns said. "In Sequel, GM has created a real vehicle that promises to excite customers and lead to long-term, sustainable automotive transportation." Compared to other fuel cell vehicles, Sequel has an unprecedented range of 300 miles between fill-ups. Zero to 60 mph takes under ten seconds, and top speed is 90 mph. Overall weight is 4774 lbs.
Sequel has all the amenities one would expect in a premium, five-passenger crossover SUV, including luxury features and electronics. It has a low-profile, skateboard-like chassis that houses all of its main propulsion, braking and chassis components.
"Sequel is a vehicle that is better in nearly every way – quicker, more sure-footed, easier to handle, easier to build and better looking, while being safe and emitting only water vapor," said Burns.
Other benefits include:
* Unequaled control on snow and ice, or uneven terrain * 70-percent more torque for unparalleled acceleration * Shorter braking distances * Ability to "talk" to other vehicles about traffic congestion or road conditions
"Four years ago, our chairman and CEO, Rick Wagoner, challenged us to completely rethink the automobile," Burns said. "With the Chevy Sequel, we have now met Rick's challenge by reinventing the automobile and making it real. We’ve proven a new DNA for vehicles that is viable for the future."
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12:31 PM
PFF
System Bot
CenTexIndy Member
Posts: 3061 From: Waco, Texas, USA Registered: Mar 2006
I paid $2.25 the past two times I bought gas. (Regular price was $2.35, plus my Kroger card discount. ) I just looked online, and there is a station near me selling for $2.25 without the discount.
quote
Originally posted by CenTexIndy: Can you say "November Elections"? I don't expect it to last long.
Cynical? Naaaah. Not you.
The truth of the matter is that demand has gone down (or hasn't increased at the normal, expected rate) In the past year, fewer people have bought gas hogs, and more have bought economy vehicles. Kind of cool how supply and demand works in a free market economy, isn't it! Aside from that, I think all the speculators drove up the price as well. Kind of like a miniature version of the dot com stock prices.
[This message has been edited by Raydar (edited 09-11-2006).]
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12:56 PM
CenTexIndy Member
Posts: 3061 From: Waco, Texas, USA Registered: Mar 2006
Seemed to me, 2 weeks ago at least, that your gas was pricey in the north and started getting cheaper the further south I went, finally settling at about 2.25-2.50..
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01:08 PM
Raydar Member
Posts: 41135 From: Carrollton GA. Out in the... country. Registered: Oct 1999
We had it here yesterday, a zooms and a citgo got into a gas war, citgo was selling gas for $1.74 a gallon and zooms, $1.75. I'm looking for the news article now. . .
Originally posted by RandomTask: We had it here yesterday, a zooms and a citgo got into a gas war, citgo was selling gas for $1.74 a gallon and zooms, $1.75. I'm looking for the news article now. . .
Low $2.20s here now. Seems like what they do is raise it up as high as they can possibly get away with, leave it there for a while, then drop it back to where its over the previous price plus a quarter or so. Then everyone is so happy it went down, they dont realize that the new ' low ' price is higher than when it started in the first place. Ive heard all the oil company excuses that dont hold water but Id bet money no matter how much new oil they find (another Texas or Alaska) or if they built 10 new refineries, gas would still continue to go up and up. They just come up with new excuses. The whole economy is driven by oil in one way or another and even though they do have the right to charge whatever they please, they are still taking advantage of a captive market. Say I owned ALL the rubber in the world, I could charge you whatever I please for a tire like say $2000 each. Knowing you HAD to buy it from me, I consider that taking total advantage of the situation and its against monopoly law.
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02:54 PM
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
Im living in the wrong state, its 2.48 here. Lowest i have seen in the last couple months was 2.42.
The first day that it droped from 2.68 to 2.42 every gas station in the area sold out of regular unleaded. I thought there was a hurrican coming that i didnt know about.
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03:20 PM
Raydar Member
Posts: 41135 From: Carrollton GA. Out in the... country. Registered: Oct 1999
From the article... At the group’s meeting the ministers are likely to raise the possibility that they will have to take action at their next meeting in December. With oil prices still in the mid-$60 range, output cuts risk painting the group as a greedy cartel and enemy of the west.
Does this concept actually come as a surprise to anybody?
Ooops. Guess that I'm the cynic, now.
[This message has been edited by Raydar (edited 09-11-2006).]
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03:29 PM
Songman Member
Posts: 12496 From: Nashville, TN Registered: Aug 2000
We finally got below $3 per gallon here about a week ago. The rest of the country will see the good prices long before we do here in California, even though we produce the stuff here.
Do I think it is a political ploy? No. Do I think both sides will try to take credit for it? Absolutely! Raydar hit it on the nose. People slowed down their use and started buying more fuel efficient cars. We're loving the HHR and the near 30 mpg. Plus, the higher rates make people try to alternative fuel a lot more. Exxon, Shell, Opec, and others who have all their eggs in the oil based basket are probably learning that they are pricing themselves right out of business.
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03:35 PM
ryan.hess Member
Posts: 20784 From: Orlando, FL Registered: Dec 2002
I doubt you can show me any proof of a drop in consumption at any significant level. It was all price speculation based on rumors... it'll be back up after hurrican and election season.
I think the only reason the pipeline fiasco with BP hasn't driven prices up further is that they are artificially depressing them to avoid a legal battle over that with congress etc...
"See... nothing bad happened!"
[This message has been edited by Scott-Wa (edited 09-11-2006).]
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03:50 PM
Songman Member
Posts: 12496 From: Nashville, TN Registered: Aug 2000
I can only speak for my household but we have just about cut our fuel cost per month in half.. and that even figures with the higher prices. And we didn't do it by cutting out places we wanted to go either. We did it by buying one fuel efficient car and driving smarter on our daily driving. I would wager that we are not the only family in America that did that. Can I offer you a website with a chart? Nope, and wouldn't take the time to find it if it were out there... But yes, I think there has been a good sized slow down in oil usage that drives this downturn in prices. You can also put it next to a chart about the fall in sales of gas hogs and rise in sales of fuel efficient vehicles. While we will not let gas prices stop us from taking trips that we want to take, not everyone feels that way. Attnedance on most events we have been to has been low and it has been attributed to high gas prices and people not wanting to spend the money.
No chart.. But many real life examples. Not everything in life has to be linked to politics.
[This message has been edited by Songman (edited 09-11-2006).]
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04:15 PM
ryan.hess Member
Posts: 20784 From: Orlando, FL Registered: Dec 2002
Originally posted by Songman: I would wager that we are not the only family in America that did that. Can I offer you a website with a chart? Nope, and wouldn't take the time to find it if it were out there... But yes, I think there has been a good sized slow down in oil usage that drives this downturn in prices.
I can say the gas prices haven't impact my choice of vehicle or driving habits. I still take trips out of state nearly every weekend for recreation, usually to the tune of 1200 miles per weekend, and I put a little over 500 miles per week on my cars getting to work and back. Anything else, like mtn biking 30 miles away each way 4 days per week, going to the store, etc, are all extra on top of that.
I do drive a pretty fuel efficient Swedish 2.0 Turbo that gets me 35 mpg with 93 octane. I'm sure if I slowed to 65 or 70 that would go up a bit (usually average 90-95 on the hwy).
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05:28 PM
jetman Member
Posts: 7799 From: Sterling Heights Mich Registered: Dec 2002
I follow the commodity markets quite closely, this unleaded market could still see lower prices however, the commercials (big players) that must report to the Commodity Futures Commision, CFC have been heavy buyers, highest levels since December 2004. This market is way undervalued compared gold, bonds, dollar. Other factors such as seasonals and unleaded is falling faster than crude oil makes me think that it couldn't go too much lower. I will be cynical also, I believe that there is more behind this than meets the eye. The price has fallen so far so fast that I really think that there is collusion, price fixing, artificial shortages and the like. Yeah, not to mention elections.
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06:39 PM
ryan.hess Member
Posts: 20784 From: Orlando, FL Registered: Dec 2002
Originally posted by Songman: Okay... So my family is the only one in the country using less gas... Right...
Probably. My family is using more. Probably double or triple our usage from a few months ago! My mom got a job some 40 miles away she has to commute to, I have school that started a few weeks ago...
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07:07 PM
AusFiero Member
Posts: 11513 From: Dapto NSW Australia Registered: Feb 2001
It has nothing at all to do with the USA elections. The price is diping globablly. Our fuel in the last month has gone from $1.45 a litre to $1.20, and in some rare cases $1.15 We are being told to expect more drops before christmas.
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07:30 PM
2farnorth Member
Posts: 3402 From: Leonard, Tx. USA Registered: Feb 2001
I know that my family has severely curtailed our gas usage. I bet we don't put more than 10k this year on all 3 of our vehicles combined. I remember when we used to put more than that on each.
I paid $2.35 gal for reg in Anna, Tx yesterday. It will stay down for a short time or til the speculators can think of another good excuse to rob us some more. I still think it will be over $5.00 gal within 3 years.
I know that my family has severely curtailed our gas usage. I bet we don't put more than 10k this year on all 3 of our vehicles combined. I remember when we used to put more than that on each.
I paid $2.35 gal for reg in Anna, Tx yesterday. It will stay down for a short time or til the speculators can think of another good excuse to rob us some more. I still think it will be over $5.00 gal within 3 years.
Dave
I paid 2.99 yesterday. I drive a hell of allot less than I did last year. Just because it pisses me off not because I can't pay! I simply won't. Scott, what are you paying down your way?
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07:55 PM
lurker Member
Posts: 12355 From: salisbury nc usa Registered: Feb 2002
yesterday outside chattanooga i bought gas at $2.23.9/gallon. today in shabbyville the cheapest ive seen is $2.53.9. so it depends a lot on exaactly where you live.
if this shows nothing else, it's a clear indication of how badly consumers were raped this summer. everyone from OPEC to BP, has seen just how hard they can push before the proles start complaining and wanting alternatives, and (shudder) not being able to report to work.
if you're working toward an alternative, whether it be hydrogen, solar or biodeisel, dont let this drop fool you. keep developing plan B.
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08:34 PM
fierodog Member
Posts: 972 From: Mantua, Ohio, USA Registered: Jun 2004
I paid 2.99 yesterday. I drive a hell of allot less than I did last year. Just because it pisses me off not because I can't pay! I simply won't. Scott, what are you paying down your way?
$2.79 a gallon regular last time I filled up (with .10 a gallon discount for club thingy), last friday the local Fred Meyer had listed $2.71, $2.74 and $2.79 all for the same station depending on the billboard you looked at... weird.
[This message has been edited by Scott-Wa (edited 09-11-2006).]
------------------ Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should. (Jurasic Park)
Originally posted by Scott-Wa: $2.79 a gallon regular last time I filled up (with .10 a gallon discount for club thingy), last friday the local Fred Meyer had listed $2.71, $2.74 and $2.79 all for the same station depending on the billboard you looked at... weird.
Anyone know why it is so much higher in Washington state??
It can be due to state-specific taxes. This past weekend gas here in MN was hovering around the low $2.30's/gal. But in driving to Fierorama, we found Wisconsin & N. Illinois to be in the mid $2.60's - and the outer Chicago 'burbs (Elgin/St.Charles) were in the low $2.70's...
We pretty much always count on WI gas being approx $.20 higher than here in MN... something about their state taxes.
Our gas started dropping here almost 3 weeks ago. We are now down to 97.9 a Liter. Still a FAR cry from where it SHOULD be, but at this point nearly everyone feels the same. Under a buck is GREAT! It is still nearly 22 cents a liter more than the local high prior to BushBaby's war, but better.
Anybody here wonder why the gas prices dropped right before the 2002,2004, and now the 2006 elections? And at such a remarkable pace and amount? Wierd how the price always seems to go up after the election is over too, isn't it? Golly that's odd. I wonder what the point of lowering gas prices would be right before an election? Which political party is considered the oil party anyways? Who gets most of that oil industry money? I heard it's the green Party, but I'm not sure. I am just so amazed at our good fortune again, two years later, like clockwork.
[This message has been edited by connecticutFIERO (edited 09-12-2006).]
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04:55 PM
fierodog Member
Posts: 972 From: Mantua, Ohio, USA Registered: Jun 2004
Low $2.20s here now. Seems like what they do is raise it up as high as they can possibly get away with, leave it there for a while, then drop it back to where its over the previous price plus a quarter or so. Then everyone is so happy it went down, they dont realize that the new ' low ' price is higher than when it started in the first place. Ive heard all the oil company excuses that dont hold water but Id bet money no matter how much new oil they find (another Texas or Alaska) or if they built 10 new refineries, gas would still continue to go up and up. They just come up with new excuses. The whole economy is driven by oil in one way or another and even though they do have the right to charge whatever they please, they are still taking advantage of a captive market. Say I owned ALL the rubber in the world, I could charge you whatever I please for a tire like say $2000 each. Knowing you HAD to buy it from me, I consider that taking total advantage of the situation and its against monopoly law.
Originally posted by crazyd: Anyone know why it is so much higher in Washington state??
There are several things involved...
Taxes is a big one. Some states are reaming you quite wide.
There is also a dirty little price fixing game called zone pricing. This one is why two stations on the same brand, even just a few blocks apart, can have a wide gap in price.
Transportation is another factor, not just for the fuel but the ethanol in many tanks now. Ethanol blends can't be sent to distribution termninals by pipeline like the fuel is. Has to come be rail or more likely truck to most hubs. The Ethanol is blended at the terminal before it goes into trucks or a local holding tank. They prefer not to sit on E blends long because they are Hydrophilic and Hygroscopic, much like brake fluid. If the blend gets too wet the Ethanol comes out of suspension. The cost of all that is passed on to the consumer.
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