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  1. #1
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    Gas $1.59 a Gallon - Why?

    Gas in North Dakota is at $1.59 a gallon, anybody want to tell me why...?

    We were as high as $4 + this summer.....



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    Re: Gas $1.59 a Gallon - Why?

    Shhhhhhhhhhhhhhh! Keep quiet...maybe nobody will notice.



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    Re: Gas $1.59 a Gallon - Why?

    Enough people started talking about alternative energy and energy independence that OPEC and the oil companies got scared and the "bubble burst."

    Don't worry, once everyone forgets about actually doing something to reduce dependence on oil (foreign or domestic) the prices will skyrocket again.



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    Re: Gas $1.59 a Gallon - Why?

    Because we are all just pawns in this game I call planet earth.



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    Re: Gas $1.59 a Gallon - Why?

    I filled up at $1.51 here in Des Moines tonight. First time in I can't remember how long that I filled the car all the way up for just $20.


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    Re: Gas $1.59 a Gallon - Why?




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    Re: Gas $1.59 a Gallon - Why?

    Supply and demand. All the conspiracies aside, it really comes down to supply and demand. A saying that makes the most sense is: The cure for high prices, is high prices. Our gas prices got too high. People quit using as much. Now there is less demand for the supply. Prices are lower. Honestly, things really are a lot more simple than everyone (especially our news) makes them out to be.



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    Re: Gas $1.59 a Gallon - Why?

    Quote Originally Posted by coachdags View Post
    Gas in North Dakota is at $1.59 a gallon, anybody want to tell me why...?

    We were as high as $4 + this summer.....
    When gas was $4.00, there were many, many more people investing in gasoline than were actually using it. It had less to do with the supply of gas and more with the supply of futures contracts.

    They've all been forced to unwind their positions which has created the downdraft in prices.



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    Re: Gas $1.59 a Gallon - Why?

    I'm guessing the global recession has put a significant dent in demand. Combine that with the bursting of a speculative bubble, and there you have it.


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    Re: Gas $1.59 a Gallon - Why?

    who cares! its $1.50. driving to work everyday from knoxville to ankeny took a huge chunk out of my wallet


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  11. #11
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    Re: Gas $1.59 a Gallon - Why?

    Quote Originally Posted by usedcarguy View Post
    When gas was $4.00, there were many, many more people investing in gasoline than were actually using it. It had less to do with the supply of gas and more with the supply of futures contracts.

    They've all been forced to unwind their positions which has created the downdraft in prices.

    You are correct sir. Just trying to keep things simple. The specs take the prices way too high or way down low, but it still always comes back to supply and demand.



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    Re: Gas $1.59 a Gallon - Why?

    I will be the first to fully admit I was wrong about gas prices heading back up after the election. I'm hoping this is long term, but not counting on it.

    I remember back in 2005ish when I talked to co-workers about how we would never see gas in the $1.50 range ever again. I'm glad I was wrong, but my prediction was looking pretty good around May of this year.



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    Re: Gas $1.59 a Gallon - Why?

    Quote Originally Posted by coachdags View Post
    Gas in North Dakota is at $1.59 a gallon, anybody want to tell me why...?

    We were as high as $4 + this summer.....
    Quite simply, A barrel of oil was at an artificially inflated price of about $146 this summer and now it is about $50.



  14. #14
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    Re: Gas $1.59 a Gallon - Why?

    Whoa whoa whoa, there. We've all been told this whole time that the market sets the price. It couldn't have been artificial inflation (i.e. gouging).



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    Re: Gas $1.59 a Gallon - Why?

    Quote Originally Posted by coachdags View Post
    Gas in North Dakota is at $1.59 a gallon, anybody want to tell me why...?

    We were as high as $4 + this summer.....
    supply and demand. markets go down. production slows. consumption decreases. Don't underestimate the role asia has in todays oil market and their economies have been affected as much or more than our own.



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