Georgia Trail Riders Forum
MEMBERS DISCUSSION AREA => General Discussion => Topic started by: Cannonballkev on December 16, 2014, 06:06:13 PM
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Cheapest I've seen it anywhere, and I drive all over the place
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That's promising!
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Diesel is even down. Dropped 50 cents in the last few days. Crazy
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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
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Diesel is even down. Dropped 50 cents in the last few days. Crazy
Let's hope it stays down for the Moab trip!
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Because he doesn't deserve credit. Mostly supply and demand at work.
http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx
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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
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Because he doesn't deserve credit. Mostly supply and demand at work.
http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx (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.
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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.
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Russia is being hit hard! Currency down 10% in one day. //pissonthat// Putin.
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Because he doesn't deserve credit. Mostly supply and demand at work.
http://www.bankrate.com/finance/economics/reasons-gasoline-prices-drop-1.aspx (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 (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.
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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.
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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.
I would rather them keep the oil here and keep our prices low and let the middle east rot.
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Oil is a fungible asset and would be priced at the world rate regardless.
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Oil is a fungible asset and would be priced at the world rate regardless.
I guess things change once the oil is processed? //:o//
(http://i408.photobucket.com/albums/pp168/lt99ls1/GASPrices_zps8f43340c.jpg) (http://s408.photobucket.com/user/lt99ls1/media/GASPrices_zps8f43340c.jpg.html)
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Most of the price in the developed world is taxes. A barrel of oil is 42 gallons. A gallon of oil yields approximately 2/3 of a gallon of gasoline, so that barrel will give 28 gallons of gas at the refinery. So at current price of $70 barrel the raw material cost of gasoline is $2.50. The actual cost is lower since a gallon of fuel oil is also produced per gallon of gas.
Obviously oil-producing countries like Iran, Saudi, and Venezuela sell it at less than world price as a social benefit, since all the oil is government owned.
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$1.99 there today!
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$2.13 in Ellijay
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Weird that jasper, blairsville, hiawassee are still 2.39-2.49
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The Venezuelan government is trying to put a stop to that practice. I can't imagine being able to put 26 gallons in the tahoe for $1.04.
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Oil is a fungible asset and would be priced at the world rate regardless.
I guess things change once the oil is processed? //:o//
(http://i408.photobucket.com/albums/pp168/lt99ls1/GASPrices_zps8f43340c.jpg) (http://s408.photobucket.com/user/lt99ls1/media/GASPrices_zps8f43340c.jpg.html)
Wonder why they don't show Australia on there. That place is on my bucket list big time. Top 3
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Filled up in blue ridge today, $1.99
(http://i406.photobucket.com/albums/pp147/stf0412/Mobile%20Uploads/BD999A50-3AB6-403B-B502-F744CE6ACAED_zpsl7oomrrv.jpg) (http://s406.photobucket.com/user/stf0412/media/Mobile%20Uploads/BD999A50-3AB6-403B-B502-F744CE6ACAED_zpsl7oomrrv.jpg.html)
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Just got back from Blueridge myself. It was $1.99 at several gas stations up there
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Oil is a fungible asset and would be priced at the world rate regardless.
I guess things change once the oil is processed? //:o//
(http://i408.photobucket.com/albums/pp168/lt99ls1/GASPrices_zps8f43340c.jpg) (http://s408.photobucket.com/user/lt99ls1/media/GASPrices_zps8f43340c.jpg.html)
It's a direct relationship to the country's ability to produce and refine oil domestically.
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Dang 1.99? 2.35 at mall of ga and we are in winter blend.
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Do any of you use the GasBuddy app? It is an awesome, free app for finding gas and diesel at low prices near you, or along your path (well, you can look at a map...it needs to be mashed up with google maps). For instance, when I went to Mississippi recently, I found a sole fuel station on a lonely exit in Alabama that had diesel at $3.00/g, which was relatively cheap compared to $3.19/g near my house and $3.09/g in Dallas, GA.
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I use gasbuddy.
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Use it as well. Have been for years. There is also an internet site if you want to play with it on the computer.
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I paid $2.09 a gallon in Gainesville at the new Kroger on Limestone. I did have $0.10 off a gallon for using their card.
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http://finance.yahoo.com/news/how-obama--and-bush--helped-puncture-oil-and-gas-prices-172500857.html (http://finance.yahoo.com/news/how-obama--and-bush--helped-puncture-oil-and-gas-prices-172500857.html)