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Why are gas prices dropping?

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Old Sep 13, 2008 | 09:27 PM
  #1  
S2Kevint's Avatar
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Default Why are gas prices dropping?

the 91 octane chevron near my house is at $3.80

the lowest ive seen it in a while.

just wondering, why did it drop so much when '91 from chevron used to be like $4.50?

i mean, with all these hurricanes threatening our coast refineries, you would think it would be spiking up right now?

im trying to think of some world event that would have caused the decline of gas prices, but cant think of any. we're still at war, and tension between the middle east (israel, iran, etc) are not easing up... so just curious...

also on a sidenote, which presidential candidate have the best proposal to lower gas prices? just wondering what our politicians are planning to do, if anything. (i dont follow politics).

and just to make this s2000 relevant, because i need gas in my s2000.
Old Sep 13, 2008 | 09:32 PM
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two words. election year. vote who you want in the office. none of the candidates will be able to bring down the prices no matter what others say. there's a solution to it, but i highly doubt it will happen since it involves a full take over of opec's supply and honest businesses...but that's never going to happen.
Old Sep 13, 2008 | 09:33 PM
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its to get you to use more gas, basically now that you think gas is cheaper than before you feel less inclined to stay home, etc. It's just a marketing thing by the gas companies, thats what i think.
Old Sep 13, 2008 | 09:44 PM
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many different reasons. speculation, world events, season, decreased dollar value, war, decreased demand, etc.
Old Sep 13, 2008 | 09:47 PM
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87 octane was $4.35 in Chicago 'burbs, so idk what you're talking about "lower gas prices"
Old Sep 13, 2008 | 09:54 PM
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cheap???

I filled up today at the HIGHEST I have ever seen gas. Premium (91octane) cost me $1.47/L (Canada).
I aint sure what that converts to with gallons--->litres and CAN$--->US dollars...

But I can tell you... I was shocked to drop 60 bucks to fill up my S. But it is worth every penny
Old Sep 13, 2008 | 09:55 PM
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Gas spiked 50 cents down here in Arkansas. OPEC cutting production + Ike =
Old Sep 13, 2008 | 10:08 PM
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remember when gas prices were .99 a gallon. gas prices go up temporarily then come down slightly. then we all are happy that they go down somewhat, then prices rise again. the cycle repeats itself from what it looks like.

but seriously, with many other countries economies booming, the use of crude oil and its products increase. its only natural that supply & demand takes over and dictates prices.
Old Sep 13, 2008 | 10:23 PM
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i payed 3.77 the other day down more than 20 cents from the last time I filled up. I almost pooped my pants. I *think* we won't be gouged up here in Virginia. The price did not go up today, so we can only hope. Apparently 2 oil rigs have gone afloat, they plan on assessing the damage tomorrow.
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