Fuel Prices.

[old goat]

What cheap gas? $3.49-$3.69 in Truckee. If there's more expensive gas in the 48 I'd like to know about it.
Gas prices always go down after a national election. Don't know why for sure but my guess is the oil companies figure high prices piss people off into voting for Republicans who they think will keep prices down, so they let the prices creep up until election time.

[climberevan]

4.39 today in Bridgeport.

Paid 2.63 in Gardnerville NV today, then 3.33 in Bishop, then 3.16 in Barstow.

[HansJob]

They'll stay low until April when I have to drive my rig up through BC, Yukon, and AK.

[jma233]

4.39 today in Bridgeport.

Paid 2.63 in Gardnerville NV today, then 3.33 in Bishop, then 3.16 in Barstow.

I've always said that Bridgeport and that fancy Mobile by Mono Lake are the most expensive stations in 'merica.

[gravitylover]

3.36 for Premium/93 this morning - Yorktown NY. The stations in my town 5 minutes away are between 3.59-3.89 for the same grade. Regular unleaded is between 2.89-3.39.

[RShea]

$2.66 yesterday with the bonus deal offer of 10 cents off instead of the normal 5 cents for the gas card.

Not to get political but I have heard that Isis is part of the reason for price drops from knowledgeable Middle Eastern resident that spoke about Syria and Iran- the 2 sides are using oil to fund their war and when Isis gains control of areas with oil production they start pumping to fund their effort to expand control of more territory.

[k2skier112]

Not puzzling at all and Saudis have done this before (and full on oil embargoes vs. US) with solid track record of success. Saudi's goal is keep US energy inefficient and oil use high for profit and protection (see last 24 years of Middle East oil wars mostly to shield the Saudi oil pump). Saudis had a deal with Reagan in 1980, Reagan would kill US energy conservation plans of Nixon/Ford/Carter in return for cheap oil to boost US economy. Worked for Saudis national interest and Reagan political interest but not so good for US when Reagan BFF's Saddam and Bin Laden didn't go by the script and US had to go to war to save the Saudi's from them both, that tab is $17T and going up since we never did have a "Patriot Tax" to pay for the costs.

It's way more convoluted and fuct than most know, and no, this isn't a it's Booosh's fault" either.

House of Bush, House of Saud: The Secret Relationship Between the World's Two Most Powerful Dynasties is a 2004 book by Craig Unger that explores the relationship between the Saudi Royal Family and the Bush extended political family. Unger asserts that the groundwork for today's terrorist movements and the modern wars that have sprung up about them was unintentionally laid more than 30 years ago with a series of business deals between the ruling Saudis and the powerful Bush family. The Saudis received investments and military protection in exchange for cooperation on lucrative oil deals. The author claims that the result has been a shady alliance between "the world's two most powerful dynasties." Unger writes, "Never before has an American president been so closely tied to a foreign power that harbors and supports our country's mortal enemies."

http://en.wikipedia.org/wiki/House_o..._House_of_Saud

$2.79 at Arco
$2.17 at Chevron with Safeway points

[Tye 1on]

Dropped a dime in JH since Rideit started this thread yesterday: $2.89...

[crackboy]

I think the station near me is 2.53 or something like that. I wish heating oil was that cheap

[Buster Highmen]

Why don't airline prices fall?

[4matic]

Why don't airline prices fall?

Algo based capacity management keeping seats full. I suspect some minor price cutting after the holiday but prices are not going to go a lot lower with the current fleets unless demand drops.

[Timberridge]

The TGR Gasbuddy thread, but less interactive?

http://www.gasbuddy.com/gb_gastemperaturemap.aspx

[RShea]

They'll stay low until April when I have to drive my rig up through BC, Yukon, and AK.

Winter mix of gasoline is cheaper to refine than the summer fuel mixture. Every year the price creeps up due to this, plus more demand as trips/travel increase in the warmer months also.

[liv2ski]

Why don't airline prices fall?

Alaska was just running a pretty good special. $69 each way from San Diego to SLC or Seattle. After Christmas look for the deals. O and $2.95 for premium today. I can not remember the last time it was that price.

[sb]

$2.35 outside Wangchester Va.

up to $2.49 on the return trip 2 days latr

[XXX-er]

1.21 a liter here, I think we usually have the highest fuel prices in BC, Shorty J is paying < a buck but Alberta has different tax structure and besides he has to live in Calgary

[neufox47]

2.47 in Boston.

Will the Saudi's ploy work? My oil trading friend thinks it will. I don't know that I buy it, it may cause prices to go up for a bit, but the found oil is coming out of the ground sooner or later.

Will probably purchase some USO in the next few weeks to month.

[bagtagley]

$2.29 in VA in the sticks. 15-20¢ more in town.

[digitaldeath]

They got 230 near Minneapolis.

[4matic]

Gasoline prices smashed again today and tonight. New 52 week low by .06c.

[Tuckerman]

2.47 in Boston.

Will the Saudi's ploy work? My oil trading friend thinks it will. I don't know that I buy it, it may cause prices to go up for a bit, but the found oil is coming out of the ground sooner or later.

Will probably purchase some USO in the next few weeks to month.

What are they doing, trying to under cut the N. American supply?

[neufox47]

What are they doing, trying to under cut the N. American supply?

Yes, that is the theory, put all the small fracking companies out of business and reduce supply in the long run.

[Tippster]

Why don't airline prices fall?

Heard a story yesterday on NPR that the airlines are stuck with the futures they bought when Oil was more $$$.

[MontuckyFried]

And now we shall once again see the resurrection of behemoth SUV sales. How quickly people forget. When gas prices inevitably rise again, I do not want to here those same people bitch about how much it costs to fuel their Escabursions. Don't get me wrong. People are free to drive what they want, but last time gas prices started going ABOVE $2 and continued climbing, I heard way too many whine and complain about how much it cost to fuel their rides.

When gas was cheap many years ago, I bought an econo car and coworkers razzed me about it. I told them that gas prices wouldn't always remain that price and they'd laugh. I had the last laugh when prices shot up and they started wanting to car pool with me stating that gas was too expensive for them to fill up their Tahoes and such. And now here we go again. People saying "gas is cheap so I should buy a hudge SUV!" I will once again be laughing when prices inevitably go back up once this nonsense with OPEC is over.

[LightRanger]

Cautiously optimistic that not that many people will fall into that ^^^ trap. I know truck and SUV sales have already started to tick up. We'll see.

The economics of the increasing CAFE mandate and lower gas prices (for now) should be interesting to watch play out.

Tipp, I was thinking about that. Figured that was the case. Anybody know how long those futures are? Six months? A year?

The OPEC meeting a couple weeks ago was amusing. Saudis and a number of other Gulf states have big currency reserves to ride out a good-length period of low prices. Story is that they want to bankrupt the smaller American plays, as well as hurt Iran and Russia for various geopolitical reasons. Some interesting charting in here: http://www.vox.com/2014/11/28/7302827/oil-prices-opec Apparently Iran needs ~$125/barrel and Russia was budgeting for at least $100/barrel for 2015. Russia just announced they'd hit recession last week IIRC.