Gas Price - Page 39

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View Poll Results: How do you pay for gas?

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  • Cash

    8 11.94%
  • Credit

    34 50.75%
  • Debit

    22 32.84%
  • Check

    0 0%
  • Other

    3 4.48%
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Thread: Gas Price

  1. #381
    Quote Originally Posted by deadheadskier View Post
    It's that number right there that puts speculators in my cross hairs. Did they honestly believe the economic crash was going to drive demand for oil down to less than 50% of what was needed during the prior summer when the price was $4.09?

    Just seems to be far too wild a swing for normal supply/demand forces. Maybe I'm wrong
    It was an amazing drop in a short amount of time. Personally, I have yet to hear a logical explanation. I do know there are always several factors in any price change, not just the futures market.
    www.firstlightphotographics.com

    " Some failure in life is inevitable. It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all -- in which case, you fail by default,"

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  2. #382
    Quote Originally Posted by ski_resort_observer View Post
    It was an amazing drop in a short amount of time. Personally, I have yet to hear a logical explanation. I do know there are always several factors in any price change, not just the futures market.
    Everything dropped at the same time- spot prices as well as futures. It was a case of no one buying anythign at all, and assuming they wouldn't for a long time. Inventories that had piled up were getting used, instead.
    Non plaudite. Modo pecuniam jacite.

  3. #383
    Abubob's Avatar
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    Of course I remember filling my 10 gal tank on my Corrolla for $5.00 but also remember paying $2.00 per gallon $25.00 for a tank and thinking I won't be able to afford it much longer. Ah those halcyon days of so long ago!

  4. #384
    Geoff's Avatar
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    I'm daydreaming about compressed natural gas bi-fuel conversion with a compressor in my garage.

  5. #385
    Quote Originally Posted by Geoff View Post
    I'm daydreaming about compressed natural gas bi-fuel conversion with a compressor in my garage.
    Apparently, the state of NC is now requiring that all of their small engine equipment (mowers, weedeaters, etc etc) be converted to propane canisters.
    Non plaudite. Modo pecuniam jacite.

  6. #386
    CC for gas. Accumulating those points!!!

  7. #387
    Article in Bloomberg showed an analysis (can't remember who did it) that said every 1 cent rise in gas prices equates to $1 billion in consumer spending redirected from retail to gas. I'm not sure how they come to that conclusion, since the US uses an average of 19.8 billion gallons of motor gasoline per year. To my way of mathing, that means $198 million per year per 1 cent change. And that ain't much.
    Non plaudite. Modo pecuniam jacite.

  8. #388
    Quote Originally Posted by ctenidae View Post
    Article in Bloomberg showed an analysis (can't remember who did it) that said every 1 cent rise in gas prices equates to $1 billion in consumer spending redirected from retail to gas. I'm not sure how they come to that conclusion, since the US uses an average of 19.8 billion gallons of motor gasoline per year. To my way of mathing, that means $198 million per year per 1 cent change. And that ain't much.
    I saw that too. I think it was the same issue that had the economics of buying a hybrid. And how a 40mpg gasoline engine is a better value.

  9. #389
    Geoff's Avatar
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    Quote Originally Posted by Glenn View Post
    I saw that too. I think it was the same issue that had the economics of buying a hybrid. And how a 40mpg gasoline engine is a better value.
    CNG really makes the most sense for a commuter car. The energy cost is about 1/3 that of gasoline and the country is swimming in natural gas.

    You can buy a Honda Civic GX that runs on compressed natural gas for about the same cost as a hybrid. If you have city gas at your house, you can install a compressor for about $4,000. My NStar cost is equivalent to about $1.00 per gallon. In eastern Massachusetts, there are quite a few filling stations though the cost is double what you pay at home if you own your own compressor.

    GM is coming out with a bi-fuel Chevy Silverado/GMC Sierra pickup next month. Dodge has a bi-fuel Ram 2500 pickup coming out this summer. It makes a ton of sense as a work vehicle.

  10. #390
    Quote Originally Posted by ctenidae View Post
    Article in Bloomberg showed an analysis (can't remember who did it) that said every 1 cent rise in gas prices equates to $1 billion in consumer spending redirected from retail to gas. I'm not sure how they come to that conclusion, since the US uses an average of 19.8 billion gallons of motor gasoline per year. To my way of mathing, that means $198 million per year per 1 cent change. And that ain't much.
    I just don't see how they come up with that crap. Maybe those on super tight budgets or poor are changing their spending habits. But a good part of the country that isn't living pay check to pay check and has reasonably good finances are not adjusting their spending habits due to paying an extra buck or two at the pump for fuel. I know where they are going with this but I think the more likely result is the money is coming from not saving or perhaps not paying down debts rather than not spending. Or at the very least, the reality lies somewhere in between.

    -Steve
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