General Chat
Q:
Of course this assumes no war with Iraq and no major hurricane in the gulf.
http://www.usatoday.com/money/industries/energy/2006-08-29-gas-price-usat_x.htm
Gasoline prices could keep falling
Updated 8/30/2006 10:08 AM ET
By James R. Healey, USA TODAY
Gasoline prices are falling fast and could keep dropping for months.
"The only place they have to go is down," says Fred Rozell, gasoline analyst at the Oil Price Information Service (OPIS). "We'll be closer to $2 than $3 come Thanksgiving."
Travel organization AAA foresees prices 10 cents a gallon lower by the end of next week. It reported a nationwide average of $2.84 Tuesday, the lowest since April 20.
It's good news for consumers and the economy. Continued lower prices "may act like a tax cut" and stimulate spending, says Richard DeKaser, chief economist at National City in Cleveland. He calculates that higher energy prices the first six months cut growth of consumer spending 1 percentage point.
The U.S. average for a gallon of regular peaked this year at $3.036 Aug. 10, according to OPIS/AAA daily surveys. That's slightly under the high of $3.057 Sept. 5, a week after Hurricane Katrina battered petroleum production in the Gulf of Mexico and caused fears of fuel shortages.
OPIS' Rozell figures prices will jump again next spring.
Behind the current drop:
•The end of summer. Driving slows, reducing demand for gasoline. And federal requirements for clean air, summer-blend gasoline end next month, making gasoline cheaper to refine and import.
•Sluggish demand. Gasoline use in the first eight months of the year is up 1% vs. a year ago, less than the 1.5% to 2% growth that's typical, says Michael Morris, analyst at the U.S. Energy Information Administration. "Wholesalers are trying to get rid of product. The growth in demand for gasoline has really tapered off," he says.
Wholesale prices are falling faster than retail gasoline prices, meaning stations are making more money than when prices were $3. Wholesale prices Tuesday ranged from $1.77 to $1.79 a gallon, well below the $2-plus prices typical until recently.
•Petroleum traders, worried that prices are too high to last, are selling their holdings. That pushes prices down. They also believe hurricanes won't disrupt Gulf of Mexico production, OPIS senior analyst Tom Kloza says.
Crude oil, which accounts for roughly half the price of gasoline, ended New York trading Tuesday down 90 cents, at $69.71 a barrel. That's the first time it's closed at less than $70 since May 4.
Contributing: Chris Woodyard, Barbara Hagenbaugh
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12.804 @ 107.26 mph on crappy street tires with Dual SU Powered 2.9L Stroker!
ZCAR.COM member since Aug 1998
A:
Yep, the prices dropped 10 cents here.
Mario
1976 280Z - Dad's Z (turbo swap?)
1978 280Z - Stock Rebuild | 5 Speed | Twice Pipes | Gutted
1982 280ZX - Turbo | MSnS-E | 5 Speed | Large NPR IC
BROKE: Will build computers, webpages, networks, MS units, troubleshoot computers for money
A:
I drove by a station yesterday and saw $2.99 a gallon and got all excited... You just popped my bubble!
"I reject your reality and substitute my own"
Please check out Thanks!
"You can get anything you want at Alice's Restaurant, excepting Alice"
A:
still $3.40 for me..
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1981 n/a 280zx
1952 m38a1 jeep willy's
1971 fairlady 240z
95 300zx N/A
72 240z
A:
hoov where do you live? is that for 87?
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Red 83 280zx 2+2
83 280zx Coupe SOLD
1st post 11/13/04
A:
2.51 & falling here in Iowa for 89... 87 is more expensive
Roger
1999 Dodge Ram 2500 4x4 Quad Cab
1986 300ZX 2+2 NA 5spd
It's funny until someone gets hurt. Then, it's hilarious!
A:
Well that would be good news if it happens.........There is always some redneck idiot neocon on CNN (insert monoply controlled media outlet) going off about the next big scare, spooking anal-ysts, greedinvestors & oil barons to jack prices & hoard inventories for no legitimate reason.......so I'll believe it when I see it.
This whole world smells bad, I'd buy another if I had
back what I paid for another mother@#$%@# in a motorcade
A:
roger how is 89 cheaper than 87?
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Red 83 280zx 2+2
83 280zx Coupe SOLD
1st post 11/13/04
A:
magic. In Reno we're down (if you could call it that) to 2.91 I just paid. I wonder if we'll ever see that $1 mark again....
hey I can dream!
1972 240z w/L28, tokico shocks and springs, and a 5 speed waiting. Also running high performance ultra mega blinker fluid, that's at least an extra 50hp to the wheels.
1987 Toyota Supra Turbo 5-speed. Belongs to me until my friend get's back from Iraq.
A:
the Valley News reported gas going up 20 cents over the labor
week end paid 3.11 two days ago in LA
A:
Mine is 2.91
1990 RS Camao (Ya i know im getting a Z but i still love my Camaro!)
2002 Z28 LS1 T56 yes its fast no you cant drive it!
A:
We've dropped down to 2.65 in eastern NC. That's the cheapest I've seen anyhow.
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77 280Z - TEC3 Engine Management, Coil Packs, 3.1 Stroker, 550CC injectors, tripple throttle body FI intake, MSA Stage II Cam, etc...etc...
79 Fairlady - Rusty
81 280ZX - DD
A:
$2.53 in SC for 87! Now premium is well under $3.
'05 350ZR
Charleston SC
A:
I live south of Pittsburgh and alot of the stations are getting down to 2.69. One station a couple of days ago went to 2.65 but alot of the other stations were still at 2.79. lastnight that station went and raise it back up to 2.75. The other stations are now down to 2.74. I guess they figured that they were losing that extra 10 cent profit.
1983 280ZX NA, Red/Black, MSA areo Kit
2005 Subaru Legacy 2.5i Limited, Obsidian Black Pearl
A:
damnit!
Now all my oil stock divendends are going to go down! I love high prices!
A:
I paid $2.53 for 87 about an hour ago, this is in north eastern ky
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Justin T
72 240Z L28, 5-speed
77 280Z 5-speed (t-boned 8-25-04)
80 280ZX automatic(retired)
A:
Got mine for $2.99 gal. for 87 octane in central california. I miss the days of $0.98 gal. in the late 1990s, mostly will never see those prices again.
Sweet 280z
A:
87 is 3.16 here in durango CO
A:
Filled the pickup truck today with $2.32 87 octane in NW Ohio.
A:
i need to buy some oil before it goes back up.
Z's are like woman maintenance,maintenance,maintenance!
1971 240Z gunmetal metalic 5sp 4:11 gears in the rear
illuminas and purchased from the original owner w/136k original miles
A:
2.37 for 87 in Cincinnati
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A:
Today S.W. Houston - Wal-Mart $2.52 for 87.
Ed and Jeanne's
ZXelda 1981 280 ZXT: ZXena 1990 300 ZX
1941 Buick Special Sedanette (Betty)
1956 Dodge Royal (Dorothy)
1971 Buick Riviera (Rita)
1975 Ford F-150 Stepside (Fiona)
1992 Firebird (Frieda)
A:
Ya'll use 87 octane? eek...
85' 300ZX NA
86' 300ZX Turbo
88' 300ZX Turbo
89' 300ZX Turbo
300ZX Turbo Project
A:
87 here in NY dropped from 3.30 to 2.91 in the last 3 weeks.... I got no problem watching those numbers decrease
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Red 83 280zx 2+2
83 280zx Coupe SOLD
1st post 11/13/04
A:
$2.65 yesterday in Indy at Speedway Gas.
Dave
12/70 240Z, L-28, flat-tops, N-42 head, N-33 intake, MSA 10-2002 cam, ZX ignition, early 5-speed, R-180,4:11 gears, 903 Blue paint.
A:
The reason for lower gas prices:
The Elections are coming, don't get excited, this will be temporary.
"YES I will finish what I sta"
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1977 280Z blue 2+2,
1973 240z
1977 280Z coupe in restoration progress
A:
1983 Inline 6 Ford F-150....87 octane
1993 DOHC Saturn.............87 octane
1995 4.0L Ford Explorer.....87 octane
1978 stock 280Z................87 octane
I may get better mileage using mid-grade fuel, but can't see enough improvement to justify the extra 12 cents a gallon. BTW, none of these vehicles have I ever heard do anything close to detonation/knock and ping.
A:
2.32 for 87 and 2.52 for 92 in Little Rock.
1979 280 ZX
1975 280 Z
A:
$2.75 for 87 octane here in S. Ms.
'78 280Z 2+2 R.I.P. August 29, 2005
'75 280Z Coupe 4-speed
"Never been there, didn't do that."
"The harder you try, the dumber you look."
A:
Listen to this:
http://www.freemarketnews.com/eRadioLaunch.asp?rid=769
"YES I will finish what I sta"
.
1977 280Z blue 2+2,
1973 240z
1977 280Z coupe in restoration progress
A:
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'05 350Z Chrome Silver Touring
'73 240Z
Post Edited (Sep 2, 9:24am)