Brak wants to know, "Are gas prices really starting to fall"?

Question

I noticed this from watching gas stations here in the Raleigh area.

The same ones too.

BP in Apex

Kangaroo in Apex

Shell in Raleigh

Hess in Fuquay-Varina

They were around $3.05 a couple weeks ago.

Then $2.95 last week.

Now $2.89

I think this is great, will this trend continue?

if so, I'll do the Hoodleehoo

Answer 1

Start hoodleehooing, because prices traditionally soften in the winter months.  Folks busy paying high heating bills, so they drive less.  Weather also affects driving patterns.  We have found that the Thanksgiving to Christmas time period is typically almost as slow as the January-February deep freeze.  In March, temps will begin to climb and folks will being stirring from their dens, just as refineries begin their annual maintenance programs and supply tightens, driving prices up for the annual spring spike.

Gasoline, barring any unforeseen circumstances, will probably hover in this price range for the next couple of years.

Answer 2

I moved to Kansas City on Thanksgiving Eve (Nov 21) and unleaded was $2.81 all over town.

Today it is about $2.65

16 cents in about 20 days...I think this is good.

However, today there is a massive Ice Storm continuing to mess up the midwest.

That might drive heating oil prices up as demand increases.

However, some states mandate a higher percentage of ethanol (gas from grain) during the winter months, so the gas you are buying may have a larger percentage of ethanol in it, and that is cheaper now than wholesale unleaded gas.

So, the gas prices just might stay stable at this level for a while.

I hope...

Answer 3

Well, when I started driving, gas was 27 cents a gallon, and has been going up in price ever since, so any reduction is temporary before the NEXT increase.

Answer 4

Prices have fallen slightly, as the price of crude has dropped from the upper 90's to the upper 80's.  It is still costly stuff.

Answer 5

this is thundercleese

and i say yes prices are going down