Never thought I'd see it again: $1.99/gallon!

[Roland99]

http://www.louisvillegasprices.com

[Bluebear]

1. That was the plan. Make it sound like a bargain!

Last Christmas I remember sweating when I paid $1.70.

[Roland99]

5. Guess the admin thought they'd be heroes again once it dropped.

HA! Nice try.

[goddess40]

24. unfortunately, I think you're on to something

All they care is that they have a talking point and it will quiet any of the sheeple that were starting to stir.

[RepublicanElephant]

2. yeah, and the media wants us to "celebrate" the "lower" prices...

...what a shell game. (pun intended)

[Bluebear]

3. Great pun! nt

[Skip Intro]

8. shell game exactly

Jon Stewart showed a clip of how Senate Dems tried to at least swear in oil execs testifying before the Senate and it was prevented by the republican chair.

He then showed them LYING about ever having been a part of cheney's "energy task force" meetings - they all said they didn't attend.

He then showed a story by the WP, I think, that claimed to have a memo indicating those oil companies WERE a part of that task force.

That's the same task force that had the map of Iraq, its oil reserves highlighted.

and we're supposed to say, "yay, its back below $2.00"

As Jon Stewart might say, sorry bushOILcheney, I'm not your monkey.

[dchill]

4. Yep. We are so gullible...

(as a nation). Soon we'll have Big Oil Company Fan Clubs.

[Wapsie B]

6. It's been lower than that for awhile in Des Moines.

maybe a nickel cheaper

[Dogmudgeon]

7. Don't get too used to it

The price of oil and gasoline will probably fluctuate wildly as "Peak Oil" economics kick in. I doubt that there will be a petro-apocalypse, but the long-range trend is toward less petroleum at higher prices.

It's a nice break. But we still need a long-range plan.

--p!

[enid602]

9. Phoenix

I paid $2.48 per gallon this AM here in Phoenix.

[Speed8098]

16. $2.39 on Long Island Yesterday N/T

[Danmel]

20. It's $2.29 near me on Long Island

Still costing nearly $30 to fill my tank ( I drive a Camry).

[rfkrfk]

30. New Yorkers need special gas, was it worth it?

NY state needs special gas,
to meet the oxygen requirement and vapor pressure requirement,
and at the same time,
comply with the state ban on MTBE.

Do NY people thimk is worth it,
to send ten or twenty cents extra to the oil companies,
just for the benefit you get?

What benefit is that, btw?

[notadmblnd]

10. When asked last night on CNN what congress was going to do

about the oil co exec lying to them. Rep Barr(?) said that it would depend on whether or not oil prices continued to decline.

[Historic NY]

11. Lucky you, were still in the 2.36-2.80 range reg-super.....

the only thing around my neck of the woods for 1.99 is a 1/2 gal. of milk.

[Awsi Dooger]

12. They're not fooling me

I intentionally memorized the price of gas at my nearby station on the night before the Iraq war, because I was certain the price would soar. It was $1.29. Tonight that station is $2.21 so I'm hardly celebrating. It did reach a high of about $3.03 and was $2.41 just a few days ago.

[ContraBass Black]

13. Remember when it reached $1 and the Repubilcans howled?

Are we at war with Eastasia or Eurasia?

[Roland99]

18. I remember in 2000 when * was railing against Clinton/Gore over $1.50/gal

and $25/bbl oil.

[ignatius 2]

14. Just in time for the holiday shopping season!! We gotta keep Americans

shopping don't you know?

[Twist_U_Up]

15. Still at 2.46 a gal. Gouging anyone ?

NY

[B Calm]

17. That Bush is doing one hell of a damn good job!

[leesa]

19. The threat of having to testify under oath really DOES lower gas prices!

[mtnester]

21. Betcha you see it lower than that at least two more times...

September - November 15, 2006

August - November 5, 2008

[Justice Is Comin]

22. Amazing what a few lies before congress can do isn't it.

[stewert]

23. I Did........

The oil companies just made $10 billion dollars profit in one quarter, now they lower prices to make it look good. They also want us to think gas under $2 a gallon is a good deal, dont buy it.

Until gas hits about $1.50 a gallon we wont even be where we should be, if not less. Then the oil companies will just wait a while and raise it again when they need to make some more money off the backs of the people.

As long as Bush and his gang of oil men are in office they know they can raise gas prices any time and get away with it.

[tx_dem41]

25. Does it make everyone feel better when you claim to be a victim..

of evil corporations instead of looking at the underlying reasons for price fluctuations? I guess for some life is easier when you feel you have no control over it and can blame it on someone else.

If no one has noticed, the price of oil per barrel is down 20% since Labor Day. The demand for gasoline is on its usual post-Summer downward cycle. Supply-and-demand. Simple economics.

[Roland99]

28. What was the price of gas when oil was $60/bbl?

It wasn't $2/gal. It was closer to $3.

Speculation is what drove the price of gas up, not supply, not quantity demanded.

[tx_dem41]

29. FYI...Gas was at $70/bbl around Labor Day not $60/bbl...

demand was at cyclical peak, and there were interruptions in production due to Katrina and then Rita. All this adds up to spikes in gasoline prices.

[Roland99]

32. Right. But gas was also about $3.30/gal.

[tx_dem41]

33. Actually the price peaked at about $3.07 national average right about..

Labor Day. And is at $2.30 national average now (as of 11/14/05). This is about a 25% drop in price. When you factor in the price of oil dropping 20%, the increase in production as refineries came back on line, and the decreased demand....it looks like the normal supply-demand theory is working. No conspiracy.

http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_home_page.html

[Roland99]

34. It's not that simple, though.

You see, before the ramp up in prices, most of the nation was much lower than other parts. Areas like NYC, L.A., S.F., etc. were all much higher than the rest of the nation. Louisville, for example, had never even been close to west coast prices. Gas hit $3.30/gal here at the peak and is now down to $1.92. And, gas prices dropping always lag behind oil prices dropping while gas price increases happen usually simultaneously with oil price increases.

I except to see gas prices down to near $1.80 with oil now about $56/bbl. That 20% drop in oil has been accompanied by a 45% drop in the price of gas.

No price gouging you say?


Pfffft

[rustydad]

26. Now is the time........

..to slap a $3.00 a gallon tax on gasolene and save the planet from CO2 poisening. Bob

[MadHound]

27. Don't get used to it friend

This is exactly the reaction that Big Oil and our oil drenched administration want you to have, celebrating oil prices that are significantly higher than they were a year ago.

Yes, gas is lower than a couple of months ago, but don't get used to that feeling. I imagine that gas prices will start to creep up next week, since we will be entering the "holiday driving season". And they will continue to go up after Christmas because of "home heating costs", all the way through to March, and while we might see a bit of a roll back then, come May they will go up some more because of the "summer driving season" and this time next year people will be praising the high heavens because gas has fallen back under $4.00/gallon.

Meanwhile Big Oil will continue to export gas, heating oil, natural gas, propane and other petroleum products overseas, mainly to Asia. They will also be laughing all the way to the bank as they rack up quarter after quarter of record profits.

[SharonRB]

31. I saw $2.13 this morning on my way to work

That's the lowest I've seen so far.