Gas Prices WTF

[Dennis C]

$1.79 in Round Rock, TX

[Beast]

I understand that the Saudi's are flooding the market, driving down prices. We are being told that it is being done to slow down the oil Fracking in the US, stop the Russian expansion by aggression, and to also defund ISIS. We are all happy with the lower prices at the pumps, but I think we are missing the real damage, and that is the rapid decline in our stock market. If this continues, it will really effect everyone's retirement accounts, or pension funds. To add more pain, the government is talking about increasing the tax on a gallon of gas.

This seems to be the American way today though. Just look at what's right before you today and not what's down the road for tomorrow.

Seems to me if the public has more money to spend on general goods other than gas the stock market should go up in other area's other then oil.

[Duece22]

Seems to me if the public has more money to spend on general goods other than gas the stock market should go up in other area's other then oil.

Bingo!

[Bassin08]

Seems to me if the public has more money to spend on general goods other than gas the stock market should go up in other area's other then oil.

That is not what is happening. Oil is intertwined into so many different mutual funds and other types of investments. It's not just the oil, but it is all of the other businesses that support the oil industry here in the US. The analyst have not seen any uptick in consumer spending relating to lower oil prices.

I think that this is yet another political move by you know who.

[lakefolk]

1.72 here

[Joe Skeeter]

It went from 1.95 to 2.40. 45 cents

[bassn5150]

I think it's great that gas prices are tanking. Anyone who says that long term, low gas prices are bad for economics is an idiot. I don't give a crap about how the media portrays low crude prices have such a negative effect on the oil industry. Who's crying for me when crude is over $100.00 a barrel and gas is pushing $4 a gallon? All the while the major players continued to make record quarterly profits. Directly on our backs. Standard Oil Co. made millions, if not billions when crude was $5 a barrel. If we are in a recession, you keep pump prices affordable, and our economy will correct itself.

[EL Skeeter]

Kissimmee Gas Prices - Find Cheap Gas Prices in Kissimmee, Florida

[mikeky]

When gas was 1.50 the last time..how was the economy? I don't believe we were in a recession then..

Early-mid 90's gas was well below a dollar and anybody that wanted a job had one.

[Bassmeister]

Dropped from 2.10 to 2.05 yesterday.....really guys, the world is flooding the market trying to derail our domestic production, because they know it costs more to extract oil from shale, than it does to just suck it from the ground....IF only we could circumvent OPEC and live off our own oil,and circumvent THEIR strategy!!!! Alas, It'll never happen......

[NitroZ7]

Take this for what it is worth, but one analyst stated that we may have record gas prices a year or so from now because as exploration is curbed in the near term there could be a shortage if the Saudis then cut off the spigot leading to record prices. It may or may not be a sound theory but time will tell.

[Duece22]

That is not what is happening. Oil is intertwined into so many different mutual funds and other types of investments. It's not just the oil, but it is all of the other businesses that support the oil industry here in the US. The analyst have not seen any uptick in consumer spending relating to lower oil prices.

I think that this is yet another political move by you know who.

We went to dinner Friday night. The amount of people out and about was about 10x what it has been the last couple years. When people can save an extra 30-40 a week, they don't save it, they spend it!

[lightningmusky]

Gas went from 1.93 to 2.25. Did a refinery have problems for the 200th time in 201 days.

[boneil]

Analyst said we would see 150 oil just a few months ago before the decline. Now they are certain it will go back up in short time. I say the bottom won't be in until we see panic. And panic won't happen till we break $40 a barrel.
The concern about low oil prices and the economy is not what the low prices will do but rather, what are the low prices telling us.
The extra money being saved at the pump may not go into spending like so many think, but rather paying off debt and paying for O-care. I don't think the low prices will help our economy. But what do I know.

[Esnow76]

Joe, somebody must of farted at Marathon

[NitroZ7]

Analyst said we would see 150 oil just a few months ago before the decline. Now they are certain it will go back up in short time. I say the bottom won't be in until we see panic. And panic won't happen till we break $40 a barrel.
The concern about low oil prices and the economy is not what the low prices will do but rather, what are the low prices telling us.
The extra money being saved at the pump may not go into spending like so many think, but rather paying off debt and paying for O-care. I don't think the low prices will help our economy. But what do I know.

Well there appears to be a lot of traders that agree with you. You would think consumer discretionary stocks, restaurants and other would be climbing. But it looks like everything except a few defensive holdings are getting beat down. Either the market knows something or it is just overreacting.

[barkleyhawggitter]

Oil hits 6 year low and gas goes up here 40 cents a gallon.

as gas prices get lower station owners are figuring out they can make much more than 50 cents per gallon. they will never let it go down too low.

[Ranger 361V]

Filled my truck up last night here in town at $1.58 gal/reg....

[buzzn]

[wentbroketryingtogopro]

$2.19 in eastern ky.probably the lowest in 6 years.but I know what is in the near future.and you do too!!!!