GM Inside News Forum banner
1 - 20 of 45 Posts

·
Premium Member
Joined
·
14,692 Posts
You mean it wasn't all Ethanol's fault? ;)

Too bad gasoline is selling for close to $4.00 here in Houston...
 

·
Registered
Joined
·
6,105 Posts
Dated Brent Spot is at $89.39. Last summer it traded for $147.50. Feel free to use this thread for retractions and apologies for comments made last summer about the cause of oil price increases.
yet somehow, gas has gone UP in the past week
 

·
Registered
Joined
·
4,732 Posts
when will we see these prices at the pump? I understand about Ike, but at the same time, I would like to see them go down.
 

·
Registered
Joined
·
742 Posts
What was the national average price at the pump the last time oil was $89.39? Anyone know where to find that? I'm betting not $3.99 as it is here in MI ...:mad:
 

·
Premium Member
Joined
·
8,886 Posts
My prediction of $75 for this fall is looking good :).
 

·
Registered
Joined
·
197 Posts
Where are all the experts that as of 2 months ago were still saying speculators weren't a cause of high oil prices?
 

·
Registered
Joined
·
1,194 Posts
This is about oil companies hoping to keep the Republicans in office. We will continue to see these lower numbers until election day.
 

·
Registered
Joined
·
15,633 Posts
Hopefully we'll see 60.00$ a barrel soon - or better. Thats pretty much the number it never should've gone above in the first place.

Just look at all the pain and suffering - and disruption this kinda' malfeasance has caused.

Personally, I think a firing squad would be too kind for some involved.
 

·
Registered
Joined
·
61 Posts
here in Knoxville, TN it rose all the way up to $4.99 and stayed there for a couple days with many gas stations being out of gas. It was $4.99 in Knoxville and $3.87 in Chattanooga which is about 2 1/2 hours south. AAA requested for a explaination on why gas prices where so high and today driving home it droped to $3.99........ price gouging at its best

we do it to ourselves, everybody talked bout how guy prices where going to rise to over $5 a gallon, well ike hit and gas went up to $4.49 and there was not a pump in knoxville that wasnt pumping gas.
 

·
Registered
Joined
·
3,406 Posts
Every gas station within a 30 mile radius of my home has the same $1.43 per litre price for regular. ($5.41 per US gallon). By the way there is no price fixing or collusion because the government says there isn't any.
 

·
Registered
Joined
·
15,633 Posts
Gas is anywhere from $3.99 to $4.29 around here now thanks mainly to Ike.
Yes, and there is the 'systemic lag effect' as well.

As painful and as rapid as pump price increases have been, they never even came close to keeping up with what's been happening to crude.
 

·
Registered
Joined
·
24 Posts
Good news. This time last year, the average U.S. price of gasoline was $2.77. The price of a barrel then was in the $70 range. The last time a barrel of crude hit below 100, it was around christmas time last year. The price of gas was about $3.50, but i believe at the rapid decline to $90 a barrel the price of a gallon will plummet to around $3. People who are complaning about low crude, and high prices, wait it out a month until refineries in Texas are up n running. Texas holds the most U.S. refineries, and even though during ike there was minimal damage to them, 14 of them closed. All it takes is time..
 

·
Premium Member
Joined
·
9,366 Posts
Keep dropping oil! Hopefully it will translate into much lower prices at the pump too and it'll take a lot of pressure off the economy right now.
 

·
Registered
Joined
·
10,431 Posts
Once we can get our refineries back on line, then I think we can expect to see $2.89 fuel again really soon.



Great news for GM...but if they had a diverse lineup of great cars, they can still do well when fuel prices are high.
 

·
Registered
Joined
·
341 Posts
$4.39 here in the Savannah area.
 

·
Registered
Joined
·
7,686 Posts
I believe that a big reason as to why we are not seeing the price of gas dropping with the price of oil is because while the price of oil is dropping back to a more normal level (this is why dill here drill now wasn't going to work as it wasn't a issue of supply and demand). More and more oil companies are selling oil to countries like China, the % of US oil that is being exported has increased. China is paying over market value for the oil and everyone wants to sell to them however this is eventually going to turn around as China's economy is starting to slow.
 
1 - 20 of 45 Posts
Top