$2.07 for gas in bluridge!

[Cannonballkev]

Cheapest I've seen it anywhere, and I drive all over the place

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[Danny Kinder]

That's promising!

[tcdawg]

Diesel is even down. Dropped 50 cents in the last few days. Crazy

[clark123456]

I bet none of you send a note to President Obama thanking him for the good work he has done to make those prices possible.

- Torg

[Scott F.]

Diesel is even down. Dropped 50 cents in the last few days. Crazy

Let's hope it stays down for the Moab trip!

[DOUG]

Because he doesn't deserve credit.  Mostly supply and demand at work. 

http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx

[clark123456]

Yeah, I was just messing around.  I don't blame a president for high gas prices, nor do I credit them with low gas prices.

- Torg

[lt99ls1]

Because he doesn't deserve credit.  Mostly supply and demand at work. 

http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx

Great article!
The US is in a oil boom and it is killing Opec. Opec is trying to lower prices and make it too costly for the US to produce oil. People can say what they want about hydraulic fracturing process but it driving our gas prices to go down.

[kvom]

I'll disagree slightly.  Saudi Arabia is trying to maintain its 12% market share despite price declines, and doing so hurts themselves and other Opec countries much more than the US.  The fact that low prices hurt Iran is a likely motive as well.  Also, oil wells that are shut down for any considerable period have reduced output when restarted.

A major reason for demand decreasing in the US is that almost all industries that relied on petroleum as fuel have now converted to natural gas; the article failed to mention this.  Another is that the overall efficiency of the US auto fleet has increased a lot over the past decade.

[DOUG]

Russia is being hit hard!  Currency down 10% in one day.   //pissonthat// Putin.

[BigMike]

Because he doesn't deserve credit.  Mostly supply and demand at work. 

http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx

Because he doesn't deserve credit.  Mostly supply and demand at work. 

http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx

Neal Boortz was invited to the White House when Bush was in office along with some other conservative talk hosts.  They were in the Oval Office and Bush said "Hey, come over here to this room and I'll show you where I change the prices of gasoline" (or something to the effect).  It was at a time when he was being criticized for high prices.

It is supply and demand but it is also about the US attitude towards domestic production.  When the US announces plans to drill, frack, etc., OPEC doesn't want that and lowers the price and/or increases their production.  When the US has an anti-American jackass socialist President like Obama that doesn't want to produce oil in the US, prices go up.  So there is some influence on what the US can do about the price of fuel.

[kvom]

Presidents have some limited influence on gas prices via the strategic petroleum reserve.  Sales from this reserve can reduce price shock, as for example after Katrina shut down refineries in Louisiana in 2005.

A more important factor currently is the prohibition against exporting US oil, a law signed in 1975 by Gerald Ford.  I suspect that the new Congress will look at eleminating this ban, now that US production is so high.