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d1h

Indiana

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Posted: 01/03/15 09:11pm Link  |  Quote  |  Print  |  Notify Moderator

Now under 2 bucks in some areas. Just how low do most think it will go? $1.50? $1.25? 99 cents? Wouldn't that be nice?

8.1 Van

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Posted: 01/04/15 02:59pm Link  |  Quote  |  Print  |  Notify Moderator

d1h wrote:

Now under 2 bucks in some areas. Just how low do most think it will go? $1.50? $1.25? 99 cents? Wouldn't that be nice?

Lowest I seen on Gas Buddy today is $1.42 in Missouri.
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cekkk

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Posted: 01/18/15 07:19am Link  |  Quote  |  Print  |  Notify Moderator

Diesel in the Phoenix East Valley is in the 2.40s, gas 1.70s. While filling DW's ride yesterday at Costco, it struck me that gas is relatively cheaper today at 1.75 than that quarter a gallon stuff I paid as a teenager.

Of course, that was real gasoline, not full of farm welfare sugar! [emoticon]


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The Texan

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Posted: 01/18/15 08:04am Link  |  Quote  |  Print  |  Notify Moderator

Gas is $1.50 in Twin Falls Idaho today and the folks I talked to are saying they expect a price of $1.00 to $1.25 by spring, with diesel in the $1.50 range. Of course the speculators are trying every trick in the book to drive prices back up. I personally think that the price will level out around the $1.25 mark for a few months.


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8.1 Van

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Posted: 01/19/15 08:46am Link  |  Quote  |  Print  |  Notify Moderator

Lowest price today in Texas :
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* This post was edited 01/19/15 09:14am by 8.1 Van *

The Mad Norsky

Yankton, South Dakota

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Posted: 01/19/15 06:02pm Link  |  Quote  |  Print  |  Notify Moderator

Love all these fuel comments. BUT ------

How many of you folks think the latest prices are a supply versus demand issue????

Yes, just as I thought, most all.

It appears to be, but in truth, is not.

It is actually an economic war taking place.

All the major oil suppliers know it is an over supply, but are continuing to produce for reasons OTHER THAN supply versus demand.

Oil ministers in the United Arab Emirates (UAE)wish to curb (their own words) the shale oil industry in the United States, so they over supply as shale oil has a benchmark level of price break even point which is higher priced than regular drilling.

Saudi Arabia and UAE are also fearful of Iran and it's nuclear ambitions, so are using the glut of oil to cut Iran's income from oil sales, which was being used to finance their nuclear ambitions.

Meanwhile, Russia and the US are in a spat about Russian doings in the Ukraine so sanctions imposed against Russian oil are also affecting the market, again, not a supply-demand issue.

Then of course you can add on with Russia/China and others working towards replacing the dollar as world reserve currency with their own money, which if it happened would be a major disaster for the United States.

So which breaks first, as the Russian economy is heading for collapse, along with their currency, the rouble, or do our sanctions work and keep the dollar strong?????

It is world wide political issues driving this market right now.

So it is a huge stare down, and we just gotta sit and wait and see who blinks first.

In the meantime, prices continue to fall, and our own oil industry in starting to shut down activity in the shale oil regions of the US. Not a good thing as much of our economic recovery since the 2008 housing bubble burst is keyed toward this oil industry boom that has happened since 2008.


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LindsayRichards

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Posted: 01/19/15 06:30pm Link  |  Quote  |  Print  |  Notify Moderator

I agree. Several OPEC countries were doing very badly at $100/bbl. It isn't about the cost of production, but about how their populations have gotten used to the daily freebies that the oil income supports. The elites know they have the radical militants like al Quida ready to revolt. Venz is right on the verge of collapse. Russia's currency has dropped over 50%. I feel very sorry, for the families of the laid off oil workers, but I sure like the low fuel prices.





cekkk

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Posted: 01/20/15 07:04am Link  |  Quote  |  Print  |  Notify Moderator

The morning news had Shell exec promising increasing prices by year's end, $5 by the end of the decade.

Diesel around $2.50 in the East Valley with one Shell?? station holding out for 2.799.

doublenot7

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Posted: 01/28/15 04:05pm Link  |  Quote  |  Print  |  Notify Moderator

Too high of oil prices are bad just as are too low of prices. The lay offs have already started and many small oil field service companies have shut down already. Once the US oil industry is hurt enough, saudi arabia will reduce production and prices will sky rocket past where they were since we will then suffer the loss of production from defunct companies.

Rubiranch

Fremont Indian State Park

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Posted: 02/04/15 09:30am Link  |  Quote  |  Print  |  Notify Moderator

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