Steve Posted December 4, 2008 Report Share Posted December 4, 2008 Oil tumbles below $44 a barrel, gas hits new low When oil prices shot up and I was paying over $4 a gallon to fill my car, I was convinced I'd never see oil below $3 again in my life. In California where we have some of the highest prices in the country, I am paying $1.89 if I hunt around a little and can regularly get gas under $2. I wonder if I really will see close to a buck a gallon again? Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted December 5, 2008 Report Share Posted December 5, 2008 Oil tumbles below $44 a barrel, gas hits new low When oil prices shot up and I was paying over $4 a gallon to fill my car, I was convinced I'd never see oil below $3 again in my life. In California where we have some of the highest prices in the country, I am paying $1.89 if I hunt around a little and can regularly get gas under $2. I wonder if I really will see close to a buck a gallon again? I guess rogie was right! How many off shore wells have they drilled so far? Link to comment Share on other sites More sharing options...
Al Posted December 5, 2008 Report Share Posted December 5, 2008 Oil tumbles below $44 a barrel, gas hits new low I wonder if I really will see close to a buck a gallon again? Why yes, come January 20th, 2009! (There needs to be this smiley with a circle around it and a line through it: ) Link to comment Share on other sites More sharing options...
Coss Posted December 5, 2008 Report Share Posted December 5, 2008 Yes petrol is cheap, what ever happened to peak oil? Link to comment Share on other sites More sharing options...
Al Posted December 5, 2008 Report Share Posted December 5, 2008 Yes petrol is cheap, what ever happened to peak oil? I would be interested to see how consumption has been since the prices fell. Supply and Demand. Also, the dollar has gotten stronger, and a weak dollar translates to higher oil prices. Link to comment Share on other sites More sharing options...
rogueyam Posted December 5, 2008 Report Share Posted December 5, 2008 Yes petrol is cheap, what ever happened to peak oil? The one thing most people can be sure of regarding "peak oil" is that the phrase does not mean what they think it means. Link to comment Share on other sites More sharing options...
Torneyboy Posted December 5, 2008 Report Share Posted December 5, 2008 Great ...at the moment Link to comment Share on other sites More sharing options...
liquidflux Posted December 5, 2008 Report Share Posted December 5, 2008 I don't see it staying this low for long. The markets already shown that people are willing to pay $3.00+ a gallon before they start cutting back. The oil companies know this and will steadily push the prices back up. Personally I've cut way back on the use of my car and started using a bike and public transport whenever possible, and I plan to keep doing so. Unfortunately I doubt most other people will do the same. I've already noticed emptier buses and a lot more vehicles on the road. It's amazing how quickly people forget. Link to comment Share on other sites More sharing options...
HSTEACH Posted December 5, 2008 Report Share Posted December 5, 2008 I paid $1.40 a gallon yesterday for 87 octane, a tad better than the $4.40 we paid in Jackson Hole in June. I say 99 cents by New Years. Link to comment Share on other sites More sharing options...
elef Posted December 5, 2008 Report Share Posted December 5, 2008 Oil tumbles below $44 a barrel, gas hits new low When oil prices shot up and I was paying over $4 a gallon to fill my car, I was convinced I'd never see oil below $3 again in my life. In California where we have some of the highest prices in the country, I am paying $1.89 if I hunt around a little and can regularly get gas under $2. I wonder if I really will see close to a buck a gallon again? Market analysts in Europe expect oil around 25 dollars a barrel soon, but now OPEC tries to reduce the production. Link to comment Share on other sites More sharing options...
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