Average gas price $6.20/gal by end of Summer

[audreyh1]

Yes!

The forecast was spectacularly wrong!

 

[REWahoo]

Several stations here at $2.98 and $2.99.

 

[jimbee]

Predicting the future is hard.

 

[PaunchyPirate]

Gas prices here in Northwestern PA just dropped back below $4.00 for regular unleaded. All the local stations are at $3.99 today.

I filled up for $3.69 because I have signed up to allow a local grocery store owned gas station chain link directly to my checking account for payment. This arrangement provides 5-30 cents per gallon off the current price. It has held at 25-30 cents off since I signed up several months ago. I also got an extra $1 off the fill up due to grocery store points that I had accumulated. So not too bad, considering where we were a couple months ago.

 

[Midpack]

Well, it's the end of summer and AAA says the nationwide average is $3.80

You should have doubted!

Thrilled to have chosen the wrong prediction (so far)!

 

[Dtail]

Nobody knows nuthin, whether gas prices or the stock market.

 

[jimbee]

Nobody knows nuthin, whether gas prices or the stock market.

Now you did it!

 

[Koolau]

Nobody knows nuthin, whether gas prices or the stock market.

Actually, we know quite a bit. We know the law of supply and demand. That law has never been disproven. That law won't predict fuel prices next Friday, but it will take some of the surprise out of why prices exploded to $6 and are now down closer to $3. The difference? Just a few % difference between how much oil we have on hand (and our ability to refine it) and the amount we are using. Because of the high prices, folks reduced their use. Fuel prices are relatively inelastic and fuel storage is quite limited, so the effects can manifest very quickly. It's repeated itself half a dozen times in my life-time. No great mystery though YMMV.

 

[SecondAttempt]

Actually, we know quite a bit. We know the law of supply and demand. That law has never been disproven. That law won't predict fuel prices next Friday, but it will take some of the surprise out of why prices exploded to $6 and are now down closer to $3. The difference? Just a few % difference between how much oil we have on hand (and our ability to refine it) and the amount we are using. Because of the high prices, folks reduced their use. Fuel prices are relatively inelastic and fuel storage is quite limited, so the effects can manifest very quickly. It's repeated itself half a dozen times in my life-time. No great mystery though YMMV.

In Hawaii the explosion was to almost $6 but I paid $5.25 this morning at Costc o so we are not seeing the collapse in prices on the Big Island. #ParadiseTax

 

[jim584672]

$3.459 here, NY suburb.

 

[Dtail]

Actually, we know quite a bit. We know the law of supply and demand. That law has never been disproven. That law won't predict fuel prices next Friday, but it will take some of the surprise out of why prices exploded to $6 and are now down closer to $3. The difference? Just a few % difference between how much oil we have on hand (and our ability to refine it) and the amount we are using. Because of the high prices, folks reduced their use. Fuel prices are relatively inelastic and fuel storage is quite limited, so the effects can manifest very quickly. It's repeated itself half a dozen times in my life-time. No great mystery though YMMV.

My point was a different one, but anyway....

 

[Bamaman]

The electorate has a very short memory. I figured the sooner we got to the mid term elections that fuel prices would come down. Some like happier voters. That's as political as I dare to get.

 

[6miths]

We are down just under US$4 per US gallon but we have 16 cents of tax waived per gallon.

 

[Koolau]

Prices had gone done more but now seem stuck at just under $4. Looks like a "new normal" - at least for a while. Not looking forward seeing prices in the Islands. YMMV

 

[jebmke]

$3.49 at Sunoco

 

[Midpack]

Aug average gas price down more than 19% versus June, progress. Where will it go from here?

https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_m.htm

We just saw $3.499/gal at a station that peaked at $4.599/gal a few months ago. Fingers crossed.

 

[ShokWaveRider]

$3.35 a gal at Costco in NE. Fla.

 

[Car-Guy]

Many off brand stations around here have been at $3.07 this week for regular gas. Majors have been at $3.09 to $3.11... After my discount that's about $2.80 gal....

 

[jimbee]

Saw $3.199 per gallon yesterday at Kwik Trip and Fleet Farm stations in NE Wi.

 

[audreyh1]

$2.99 around here. It’s impossible to miss all the huge gas price signs.

 

[Car-Guy]

$2.99 around here. It’s impossible to miss all the high gas price signs.

When I first started driving, over 50 years ago, I recall seeing gas price signs for 29.9 all over the place... What's a decimal point anyway.

Actually, my first vehicle was a small motorcycle so a fill-up was about 50 cents... True story, (I may have told this one before) I once ran out of gas about 5 miles from home and had 5 pennies in my pocket. I was able to coast into a nearby gas station and asked for a nickels worth of gas. I then asked the guy pumping the gas to "drain" the hose. Made it home with gas to spare!

 

[ncbill]

$3.39 here...signed up for the BP/Amoco card for $0.30/gallon discount for the first 60 days ($0.15/gallon afterwards)

 

[jazz4cash]

When I first started driving, over 50 years ago, I recall seeing gas price signs for 29.9 all over the place... What's a decimal point anyway.

Actually, my first vehicle was a small motorcycle so a fill-up was about 50 cents... True story, (I may have told this one before) I once ran out of gas about 5 miles from home and had 5 pennies in my pocket. I was able to coast into a nearby gas station and asked for a nickels worth of gas. I then asked the guy pumping the gas to "drain" the hose. Made it home with gas to spare!

I also ran out of gas on the way home from my night shift job because I forgot to buy gas with my last 50 cents I had reserved for that purpose. I think gas was ~70 cents/gal at the time. The embarrassing bit is that I was working at a Shell station at the time.

 

[Koolau]

When I first started driving, over 50 years ago, I recall seeing gas price signs for 29.9 all over the place... What's a decimal point anyway.

Actually, my first vehicle was a small motorcycle so a fill-up was about 50 cents... True story, (I may have told this one before) I once ran out of gas about 5 miles from home and had 5 pennies in my pocket. I was able to coast into a nearby gas station and asked for a nickels worth of gas. I then asked the guy pumping the gas to "drain" the hose. Made it home with gas to spare!

I also ran out of gas on the way home from my night shift job because I forgot to buy gas with my last 50 cents I had reserved for that purpose. I think gas was ~70 cents/gal at the time. The embarrassing bit is that I was working at a Shell station at the time.

50++ years ago a friend and I had driven from home town to the big city. On the way home, we noticed he was almost out of gas. We took it easy, but we ran out of gas about 20 miles out. I told him that there was an isolated gas station less than 2 miles ahead. I told him to turn the steering wheel back and forth, causing the rear to fish tail slightly. That got enough gas into the fuel line that we made it to the station. (Wait for it.) They were out of gas. I called my dad who brought a gallon of gas to us. YMMV

 

[Car-Guy]

50++ years ago a friend and I had driven from home town to the big city. On the way home, we noticed he was almost out of gas. We took it easy, but we ran out of gas about 20 miles out. I told him that there was an isolated gas station less than 2 miles ahead. I told him to turn the steering wheel back and forth, causing the rear to fish tail slightly. That got enough gas into the fuel line that we made it to the station. (Wait for it.) They were out of gas. I called my dad who brought a gallon of gas to us. YMMV

Reminds me of the old joke about the lady who got stop for speeding and the cop asked her why she was driving so fast.... She told the cop, well I was about to run out of gas and I was hurrying to get to a gas station.