Our local pump prices have been dropping to lows unseen in, what?, ten years?? Why?

Living in the N.W. of Washington St. right on the Canadian border for around seven years.

The local regular price has dropped to 3.21 per gallon with prices farther south, away from the border where the Canadians drive up local prices, hit 2.99 per gallon today.

This is in a state with no income tax which has higher state gas taxes than most.

Rather than making me happy, it's got me a wee bit concerned.

Unless the fracking supplies have caused a surge in supplies, the only other explanation is a continued lessened demand world-wide, especially China and India which operated on the futures market having little or no supplies of their own.

Are other regions/countries seeing similar drops?

Am I missing other explanations or factors?

Regular unleaded is $2.79/gal here in my part of Texas.

The price of gasoline is dropping like the government's approval rating.

Keep on hatin'!

reply to post by Bovah


Is that down much from, say, a month ago?

I'm hearing Texas is flat out booming in oil production, could that be a local phenomenon?

I live in the Northwest USA also. I have noticed the oil price dropping. Last year this time it was about $3.68 a gallon. Now it was down to $3.20 today. The price of oil drastically dropped right before Obama was elected the first time. It was down to $1.19 a gallon where I lived in 2008. I wonder how far it will go down now?

reply to post by nwtrucker


I work a few miles northeast of San Francisco. Always higher prices here than most places; but I got gas this morning at 3.499/gal., down from 3.859 just a few days ago.

I've had the same funny feeling. Something is very wrong here. But for now....

reply to post by nwtrucker

hit 2.99 per gallon today.

B.S. Tell me where.

Price relative to what?

Round these parts gas is only 20 cents per gal....in pre-1965 silver coins. Take that as you will.

Found this nugget...

Why Gas Prices Drop in Autumn...

nwtrucker
reply to post by Bovah

 

Is that down much from, say, a month ago?

I'm hearing Texas is flat out booming in oil production, could that be a local phenomenon?

I can't speak for all of Texas, but I live in the "Texoma" area, and for the last 2-3 months it's been in the $2.90s.

Domo1
reply to post by nwtrucker

 

hit 2.99 per gallon today.

B.S. Tell me where.

It's $2.98 at the closest gas station to me in Texas. It has been for 10-14 days. I don't really understand it and usually I am good at figuring things like this out. The past 5 years have told me not to expect anything good, so I'm waiting for the shoe to drop.

reply to post by Domo1


I was told by the attendant at the USA outlet in Blaine that it hit 2.99 per gallon in Tacoma...he didn't say where.

It doesn't surprise me though, Bellingham prices at the cut rate outlets- no additives- was at the low three dollar rate last week when I was in town.

The prices have dropped around 20 cents since then. I'm betting it's lower than 2.99 at some independent outlets.

The big companies like Chevron are usually 20-30 cents higher around here.

Mon1k3r
Found this nugget...

Why Gas Prices Drop in Autumn...

Gasoline price is definitely a highly manipulated statistic. However, take a look at this "demand" chart. It's falling hard. Surely it has nothing to do with the US economic turd. Must be all those chevy volts on the road. Yeah, that's it.

Inland NW Wash/ID around $3.49 to nearly $3.80 in the area as it's still higher than other places around the NW but not at high as $4.00 plus. Price gouging, taxes, what?
Reference/comparrison: www.washingtongasprices.com...

reply to post by Mon1k3r


That's cool. Yet the drop in these parts is FAR more than the usual fall prices. being a trucker, I do keep an eye on the prices.

Heck, in the late 90's the price for diesel in S. Carolina was under a buck and that was major truck stops!

reply to post by nwtrucker

This is what South Africans have to pay-and the reason we can never really go anywhere or do anything,even driving a lil Tazz.In my country,if you are not wealthy,have a high income, or living on credit,gas(petrol) prices keep one stuck at home most of the time.
www.aa.co.za...

reply to post by nwtrucker


$3.19 north of madison, wi.

This has to do with the slowing economy, no one is spending extra on anything - not entertainment, not traveling, not eating out -

People who know, know that the greatest depression of all time is coming - thanks to those idiots in DC and obozocare.

Bunkering down, putting in wood burners to heat their homes. ALL the necessitities to keep people safe from the fallout of the idiots communist in washington.

well I have just done the conversion.......here in Australia I just payed $5.86 a gallon ....wtf.

reply to post by Raxoxane


That's about the same prices as in B.C. just north of the border where I live. The B.C. drivers stream down here for the 80-90 cent a litre prices here. They even fill 3-4 5 gallon jugs, stick them in the trunk and take it home...apparently no duty is charged.

I guess the oil companies has an even better grip on Canada than the U.S..

reply to post by bellagirl


Wow, I understood you guys had an oil boom of your own. But then the taxes are probably what's doing you in.....