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06/20/2005 02:25:34 PM · #1 |
Has anyone noticed that as the cost of oil has gone up over the last week to reach a new record high ($60/barrel), gas prices have remained steady (or is it just that way in the Phoenix area)? Have the gas companies finally realized that at higher prices people are starting to look at alternatives?
I̢۪ve also noticed the prices of used jumbo SUVs are dropping while the little hybrids can̢۪t stay on the lot. It looks like we may have reached the market price for gas and the oil companies have noticed (or they just forgot to raise the price in phoenix over the last week).
We̢۪ve been steady at about 2.17 for a few weeks now.
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06/20/2005 02:35:20 PM · #2 |
| Is that 2.17 a gallon? Count yourself lucky I pay 83.9p per litre over here in the UK, which is about $6 a gallon I believe. |
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06/20/2005 02:45:33 PM · #3 |
| I pay an outrageous 1.2e for a litre of 95 in finland |
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06/20/2005 02:51:40 PM · #4 |
gas here in southeastern kentucky has been steady at 2.03 a gallon but 30 minutes down the road in harlan ive found it as cheap as 1.92 a gallon...go figure
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06/20/2005 03:04:28 PM · #5 |
2.23 is cheap here in NYC
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06/20/2005 03:10:47 PM · #6 |
There is no magical price point or "market price" as the original poster stated that gas manufacturers are going to have to stay out in order for people to buy gas... people are going to buy gas no matter the price. They have to.
Gas prices got as low as 1.93 a gallon here about a week ago, but now they are back up to 2.10, so it all depends on the prices the gas stations are getting at any given time. So yes, I have seen our gas prices go up as a result of the recent surge of oil prices.
Being in the U.S. has made us take gas prices for granted gas prices in the rest of the world is much more expensive. In the UK you can pay $5-6 dollars a gallon for gas. Those prices aren't anything new either, gas prices in the UK have always been roughly 2-3x higher than in the United States.
Granted in the UK a ton of that is due to taxes, etc. but we are pretty spoiled in the U.S.... even with gas prices as "high" as they are. |
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06/20/2005 03:38:24 PM · #7 |
There is a market price where people will start selling their gas guzzlers and buying more efficent cars, or people will start carpooling, riding a bike, or take a bus. If that happens enough, gas usage can easily drop 10-20% and cut right off the top of their profits. Everything has a market price, economics 101.
Example, mostly because of high gas prices I traded in my Expedition (13mpg) for a Toyota Tacoma (20mpg). I dropped my gas usage 35%. People I know with two cars now spend more time in the hona civic and less time in the 69 mustang. I know people that are moving closer to work so they don't have to drive as much. I know people that are car pooling now that didn't before. I'd bet in some markets usage has gone down significantly and the gas companies are recognizing it.
True, we will always need and buy gas, but we can and will get by with less if the price gets high enough.
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06/20/2005 04:02:05 PM · #8 |
they are probably slowly raising it here in the US to catch us on the 4th of July travel weekend then it will go down a tiny bit. I drive 800 miles a weekend...man I need a hybrid vechicle!
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06/20/2005 04:09:21 PM · #9 |
been watching the $'s
we are planing a vacation that covers 5000km ...
some of it in northern Ontario where the gas prices will be >>1$ cnd
aaggh....
edit: 1$ cnd / liter 3.78$ cnd/gallon or ~3$USD/gal.
Message edited by author 2005-06-20 16:54:35. |
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06/20/2005 04:26:09 PM · #10 |
About the cheapest around for regular unleaded is $2.39/Gal
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06/20/2005 04:37:35 PM · #11 |
Originally posted by BradP:
About the cheapest around for regular unleaded is $2.39/Gal
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You have engineering experience and are an auto mechanic...a horse is the best you can come up with?
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06/20/2005 04:51:26 PM · #12 |
Originally posted by louddog:
Has anyone noticed that as the cost of oil has gone up over the last week to reach a new record high ($60/barrel), gas prices have remained steady (or is it just that way in the Phoenix area)? Have the gas companies finally realized that at higher prices people are starting to look at alternatives?
I̢۪ve also noticed the prices of used jumbo SUVs are dropping while the little hybrids can̢۪t stay on the lot. It looks like we may have reached the market price for gas and the oil companies have noticed (or they just forgot to raise the price in phoenix over the last week).
We̢۪ve been steady at about 2.17 for a few weeks now. |
2.09 a few days ago, then 2.15-2.17 range overnight. self serve reg unl.
Of course it would go up...going on a 900 mile vaca trip thursday...
You know it's bad when...
you hear yourself tell a cowaorker "I bought Super Unleaded and only paid $2.19!" (2 weeks ago..now pushing $2.39)
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