How much is gas where you live?

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Gas is still high in PA...and big!

Happy New Year

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Sure is SWEET to see prices taking a nose dive lately. I can't remember this happening since 2008. What a thrill. 1.99 here in Northwest Indiana where I'm vacationing this week.

Gary

darksider #44

 
Headed over to Indy today and saw 1.59 for 87 octane if u paid with cash in a small town on interstate. Filled my truck up for under $40 bucks. So crazy but we were getting fleeced for quite a while.

 
1.99 here in Northwest Indiana where I'm vacationing this week.
Gary

darksider #44
Gary - You must be visiting relatives here in da region. I can't think of any other reason why someone would vacation here.
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griff in Crown Point

 
I am SO tompted to go out and buy about 6 55 gallon drums and fill them up to 1/2" then seal them tight. Opening them only when gas hits $4 again.

 
The big question is "When do you fill up your barrels?". Hard enough as it is to believe, I think now may be too early.

Cav's "$1.59" report is the lowest I've heard. Wow. That fuel is being sold on the December spot price. Crude oil dropped another 1.4% yesterday. We very well might hit $50.00 next week. Using some simple extrapolation, some markets could definitely see $1.25 a gallon in February, or even lower.

The refineries will make cheaper winter blend for another 60 days or so, then start switching to the more expensvie summer blend. All other things being equal (which may or may not be the case), that will bump up the price 10-15 cents.

Bloomberg is now saying don't expect the bottom to hit before June 2015. Middle eastern countries are stock piling oil at an alarming rate.

Many of my sources in the small to medium sized oil service companies tell me that the big boys say the real break even point for traditional land and offshore drilling is now at about $40.00 a barrel, a little higher for drilling in shale (USA Today article for today, Jan 3, says $42.00 is the break even for USA shale). We are definitely feeling it already here - the "now hiring" signs on our major industrial highway are all gone. Our own State revenue estimating committee is re-vamping the 2nd half of this year (our fiscal year ends June 30) to accomodate for our great reduction in oil royalties revenue.

Because oil is traded world wide with the American dollar, the ripling effects of this will be far reaching.

 
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1.99 here in Northwest Indiana where I'm vacationing this week.
Gary

darksider #44
Gary - You must be visiting relatives here in da region. I can't think of any other reason why someone would vacation here.
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griff in Crown Point
I was in town because I bought a house to flip in Merrillville on Taft Street. We picked it up for 35k and will sink in about 30k more and hoping to sell for about 115k or so this coming summer.

Crown Point: home of Hyles-Anderson College. Brings back a lot of memories. Down town CP is a beautiful old fashioned place (at least it was 25 years ago the last time I was there). You're right about the weather. But I was indoors the whole time, rebuilding a bedroom closet.

But the cost of gas sure was refreshing. Best price here in New Port Richey, Florida: $2.10 this week. And by the way, it was down to $1.86 in Merrillville the day I left.

Gary

darksider #44

 
$1.76 today at Costco in Minneapolis. I'm liking this. Didn't think I would ever see gas prices this low again.

Won't be filling the bike anyone soon (didn't make it above 0 today) - so filling the car isn't so bad at this price.

 
The average price here in San Antonio is $1.84 with the lowest price looking like it is about $1.57 at an HEB Grocery store. I look at the prices around town using the Gas Buddy (GasBuddy.com) site for San Antonio.

 
$1.69 today.

I saw a joke on Twitter the other day that went like this.

Gas is under 2 bucks and the Cowboys are in the playoffs. Who rolled us back to the early 90s???

 
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