Where is the bottom?

[BigN8]

So how low will regular unleaded go?

 

[Britboater]

And I hope it keeps dropping, Middle East, where is that?

Funny how the airlines aren't dropping their prices, they must be making a good profit now.

 

[Bruce]

Is anyone buying now and storing for summer? We used to keep 500 gallons in a tank on the farm. A fuel truck would come fill it for us.

 

[Murf'n'surf]

Of course the gas prices fall right before I pull the trigger on a Ram EcoDiesel!!!!

I'm betting gas will surge back to $3.00+ within the next 8 months.

 

[MikeyL]

And I hope it keeps dropping, Middle East, where is that?

Funny how the airlines aren't dropping their prices, they must be making a good profit now.

They are generally locked in to long-term contracts, to better "manage" their overall fuel costs.
Merry Christmas- Mikey Lulejian - Lake Oconee, GA

 

[Big Shasta]

Poor OPEC.. Don't you guys have a heart?

 

[Ronnie]

I don't think that CA's bottom, especially in the SF Bay Area, will be anywhere near the choices available in this poll. I'm still paying over $2.50 for regular unleaded at Costco so it's safe to say it would be 10 to 20 cents more at the nearby Shell, Chevron, etc. I would love to be wrong about this but wouldn't bet on it.

 

[Shuck Water]

Lower gas prices are great, but the US has ramped up it's own production of oil and gas so much that these prices are going to hurt our own economy much more than the savings that we could achieve. The worst part is that smaller companies are being hit harder than big oil. There's been huge wave of new start up oil & gas companies in Texas. I invested in a LP that owns a could of wells in Texas and am taking a bath right now. Thank goodness for Apple......

 

[BigN8]

Folks in Houston are as nervous as a cat in a room full of rocking chairs right now

 

[GTBRMC]

Agreed on domestic oil & gas, especially on the upstream side.

I am hearing most of the fracking guys are & plan to still run the rigs that are open right now. Plans to expand to add more capital seem to be heading for mothballs.

Also, looks like the near-term big loser will be Alberta oil sands.

 

[Jim Robeson]

Is anyone buying now and storing for summer? We used to keep 500 gallons in a tank on the farm. A fuel truck would come fill it for us.

I thought about that too. Just wondered if would actually keep for that long...as in until summer? It would be my luck that I would buy 500 gallons at $1.99 and by summer it will be $0.99 a gallon.

 

[txav8r]

If I could predict the price of anything, I would be independently wealthy. The rest of the two pages I wrote, I erased. I didn't want to take it political or get it into a debate. I will enjoy the reprieve at the pump, hope for a better wage, and hope for less dependence on foreign oil! But buying in bulk might prove to be a bad move in many ways for the average homeowner. Keeping it fresh will be the biggest issue, with price movement being the other.

 

[Julian]

Since the prices in my area are in the 2.50 - 2.60 range right now, I can't see it getting as low as any of your ranges. It might drop another 10 cents here....so 2.40 as a low....

 

[Ronnie]

I stand corrected since I filled up at costco this morning for $2.499 per gallon of regular unleaded.

When gas got cheap a few years ago i though about using my friend's cruiser for fuel storage but ended up passing because of all the hassle it would be to transfer gas out of his tank and into mine. I wasn't concerned about the gas going bad as I planned to add a storage dose of marine stabil to it and use it within 6 months of purchase anyway.

 

[MikeyL]

In the middle of Nowheresville, upper Georgia, near the Ga Mountains, we paid $ 2.29 at a hole-in-the-wall gas station yesterday - with an AMEX card !
We also saw A LOT of $ 2.31's however !

Take THAT< OPEC ! .............. LOL !
Hey ! Merry Christmas, Mikey Lulejian - Lake Oconee, GA

 

[Master-Spud]

I work in the Alberta oil Sands, and you'll see some belt tighten from most of the companies, some projects delayed a year. Only ones that are in any real danger are the very small scale ones that were already struggling with production. Were I am at we can still be profitable until the oil hits 45 ish... Even then don't see the doors closing any time soon. But will be interesting to see the impact across the board in Alberta as other labour positions are let go and the economic downturn that will spur.

 

[Jim Robeson]

Different hearing other people's perspective, @Master-Spud .... Never really thought about how the lowering of the price of oil would effect the workers that produce that oil. All you ever hear is how the oil companies are making money hand over fist. My wife is a banker and she quickly reminds me that I probably have an oil company or two in my 401K, so don't be too quick to judge.

Oh, $1.99 in Republic, MO.

 

[PEARCE]

I saw $2.17 for regular at Wally World coming to work this morning. The cheapest I've seen diesel is 2.95 at a nearby QuickTrip. I was thrilled to see that.

 

[BigN8]

Saw $2.09 at QT in North Richland Hills this morning.

 

[marc7]

We are seeing $1.99-$2.09 here in Round Rock, TX.