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84 Comments
- brstilson, on 10/12/2007, -2/+19Your prices are due to taxes. We only have about 40 cents of taxes on a gallon of gas.
- inactive, on 10/12/2007, -4/+16In the UK we pay £3.70 ($6.92) per gallon.
- Egoist, on 10/12/2007, -3/+14If you're so sure about that, why aren't you buying oil futures now?
- datastorageguy, on 10/12/2007, -7/+18So the Republicans interviened to lower oil prices because it's an election year? Do you have even the slightest bit of proof to back that up?
- Sc00t, on 10/12/2007, -7/+18Yes, but the way your country is laid out, and the fact that you have better public transport, people don't end up commuting 30+ minutes to work every day.
- Egoist, on 10/12/2007, -1/+11"oh noes! a hurricane might by chance hit the gulf!"
"oh noes! there is political uprising in Nigeria!" Let's raise the price!
So you're angry at emotional traders? Who isn't? When people get scared that they might lose money, they start to sell causing the price to go up. Who you should be blaming is the media for making such big mountains out of every thunderstorm or wars out of every skirmish. It's not OPEC who's reporting on the hurricanes or political uprisings causing squeemish traders to jump to gold when their knees get weak.
"The mafia comment comes from OPEC speculating that they might 'correct' the market by limiting production in order to raise prices. It's absurd."
That's capitalism, and I agree, OPEC does have monopolistic powers. In the 70s, around 70% of the oil we imported was from OPEC countries and that's how they were able to help rip our economy apart while Carter was in office. These days, it's around 25% as it's been our foreign policy since then to ween ourselves off of the OPEC nipple. Over time that will continue to shrink as we continue to find new oil reserves and import from non-OPEC countries. - Alphabet, on 10/12/2007, -2/+12they have like $3 to $4 a gallon for taxes over in europe/britain
- datastorageguy, on 10/12/2007, -5/+14We still pay more for a gallon of milk than we do a gallon of gas. I say we investigate "big milk" to find out exactly why they are screwing the American people!!!
- Egoist, on 10/12/2007, -5/+14Those who bash "Big Oil" for the high price of oil are simply ignorant and have no concept of the futures market, commodities, or our economy in general. Blaming some faceless rich old white man is much easier than having to do things like learn how things really work.
- brstilson, on 10/12/2007, -0/+8I started driving during the big price dip in the late 90's. When i started driving gas was 79 cents a gallon.
- inactive, on 10/12/2007, -4/+11I do not subscribe to the "old white men" as an oil mafia conspiracy theory. However, the prices, although set by the market, are artificially inflated. "oh noes! a hurricane might by chance hit the gulf!" "oh noes! there is political uprising in Nigeria!" Let's raise the price!
The mafia comment comes from OPEC speculating that they might 'correct' the market by limiting production in order to raise prices. It's absurd. - sorrow, on 10/12/2007, -2/+9"The situation has reversed itself," Lundberg said. "Rather than a shortage of gasoline hiking prices, we've had more than enough gasoline."
And yet i'm still paying just shy of $3 / gallon (in Washington state)? ***** that!
Granted, the article goes on to mention how oil is still expensive, but i still doubt it is expensive enough to constitute the inflated prices we pay. Especially considering that once the "driving season" ended, they suddenly were able to lower prices... - Egoist, on 10/12/2007, -5/+12@nazadus: You still have no idea how the price of oil gets set. I don't think it's you who should be instructing others to go back to remedial economics.
- livestradamus, on 10/12/2007, -0/+6I remember paying $1.29 back in the last century *sigh*
And a drive in to NJ (from NYC) gas was like $1.09 and cheaper. F**K!
Shoot I remember the sub-$1 days. BTW: I'm only 29 yrs old.
Because of taxes on basically everything in the UK, they pay more. Its like 17% or ***** for sales tax. In most parts of the US you can't go anywhere w/o a car. Land mass is also many times over that of the UK. So in the end, you pay *as little* as we do because you drive considerably less. - nickj6282, on 10/12/2007, -3/+9@Nazadus
Australia is not Europe. It is a country (and a continent) all its own. And it's rather large.
@ibeetle
I think Rudrasksha probably knows that if he lives there. - a99tandem, on 10/12/2007, -0/+6Me too.. it never got that low for me.. but I remember 84 cents a gallon for myself...
- Egoist, on 10/12/2007, -4/+9You get the tin foil beanies, I'll get the canned foods and we'll meet in my Faraday bunker in 1 hour. Ready? GO!
- ibeetle, on 10/12/2007, -1/+6ahh... crap... sorry Rudrasksha... the coment was ment to be directed at Nazadus.
- kingygk, on 10/12/2007, -1/+6It's sad to see you all whining about the gas prices going down. Enjoy it while you have it. The president does not control the price of oil or gas. OPEC does. Get over it.
- icebrk, on 10/12/2007, -14/+19I think if you count the war in Iraq, the taxes Americans are paying are a wee bit higher than 40 cents per gallon.
- brstilson, on 10/12/2007, -8/+13$2.32 a gallon is not a low price.
- softwareNerd, on 10/12/2007, -0/+5You can't win with conspiracy theorists:
when prices go up, it's the evil, rich oil-barons
when they go down, it's the evil, rich oil-barons, pausing for the elections! (see comments above) - floorman56, on 10/12/2007, -4/+9I think congress should investigate the falling gas prices NOW. can't you see? Some great hand of power is playing with us like chess pieces on a board.
- ajamer, on 10/12/2007, -1/+5"Drivers in Des Moines paid the least, at $2.32 per gallon; drivers in Honolulu the most, at $3.17. Los Angeles and Chicago led the Lower 48, at $2.96.
The following are prices in other U.S. cities:
Tulsa, Okla.: $2.34
Cleveland: $2.37
Atlanta: $2.48
Houston: $2.49
Phoenix: $2.57
Boston: $2.68
Denver: $2.87"
Strange that I live just 30 minutes from Chicago (Indiana) and only pay $2.58 for gas - chithon, on 10/12/2007, -12/+16Oh yea.... ELECTIONS are on the way.
- brstilson, on 10/12/2007, -1/+5Gas could be $10 a gallon in New York and it wouldn't affect most people that live there.
- TubaTechno, on 10/12/2007, -0/+4And before Bush was elected...the economy started to tank. Lets blame EVERYTHING on Bush. Its much easier.
- TubaTechno, on 10/12/2007, -3/+7"The flaw in your argument is that you think demand is falling because prices are too high and demand will rise if prices will be lower."
Granted gas isn't as elastic as most comodities....but this holds true. This is no flaw. Its simple economics...read a book. - brstilson, on 10/12/2007, -0/+3Shortly after the low prices, they jumped up to $2 a gallon in less than 2 years, Clinton was still president.
Somehow I doubt that there is a magical gas price lever underneath the desk in the oval office. - saigumi, on 10/12/2007, -1/+4Good for you. Give all those busses, subways, trains, cabs, sidewalks and other transportation means that you have got a go.
- inactive, on 10/12/2007, -9/+12Agreed, the drop is a nice "we're handling it" sign for the republicans.
- TubaTechno, on 10/12/2007, -1/+4Kind of like how they've investigate "big oil" 30 times in the past 20 years?
- artemster, on 10/12/2007, -0/+3Keep in mind that keeping oil prices high (assuming that they can) in the long run is really bad for the oil companies. Before they have a chance to count their winnings, we may start driving smaller hybrids and electric cars.
That would really suck for them. - Rudrasksha, on 10/12/2007, -3/+6In Australia we pay about $1.50AU per Liter! If my conversions are correct this is $4.29 per gallon.
- TubaTechno, on 10/12/2007, -0/+2"and also know the oil companies saw record profits in this admin"
I don't suppose you've ever read a finance book? Profits are relative. What was their net profit margin? how did that change in the past 6 years?
Answer those questions...and then come to your conclusions. - Egoist, on 10/12/2007, -0/+2And could that possibly be because September is the end of high driving season, and with less demand, the price goes down?! Golly gosh, economics is fun!
- nazadus, on 10/12/2007, -3/+5You can't compare everything to gas.
I remember people bitching because gallon per gallon, water more expensive (what the hell kind of water they were buying was beyond me.. but whatever).
The difference is our economy needs gas to be cheap because people buy it in quantities. As another poster has said, if people bought 20+ gallons of milk (ee gad, hope for dear life you are not lactose intolerant) then things would be different.
I honestly wish that instead of falling, gas would rise. I want to see demand for better vehicles and new tech. The tin-foil part of me thinks that this is them hoping to hold that tech off a little longer. But hey... I got no proof and I'll let it stop there. - Egoist, on 10/12/2007, -0/+2Exactly where were you living when gas was $0.79 six years ago?
- LordRahl72, on 10/12/2007, -10/+12I am sure the day after the November elections it will begin to rise again.
- Siroro, on 10/12/2007, -0/+2Public transportation in the UK is not cheap.
I have to travel only 7 miles and it costs me £5.40 every day ($10.10). - jazzo65, on 10/12/2007, -3/+5"I started driving during the big price dip in the late 90's. When i started driving gas was 79 cents a gallon."
How do you go from 79 cents per gallon when Clinton was president to $3 per gallon when Bush is president in approximately 6 years? By the way, this is a 280% increase. The answer is obvious when you have a President (Bush) that is an oil guy and gives a nod and wink to higher pricing after elections.
By the way, the meager tax cuts (for most of us middle income and lower income folks in America) was simply a huge transfer of money from the government to big oil. Yeah, the tax cut money went in one pocket for my family and out the other pocket to buy the same amount of gas. - TubaTechno, on 10/12/2007, -0/+2"Surging prices caused several reactions among consumers: better insulation in new homes, increased insulation in many older homes, more energy efficiency in industrial processes, and automobiles with higher mileage. These factors along with a global recession caused a reduction in demand which led to falling crude prices."
You mean to tell me that the reduction in demand also led to the falling crude prices?! - ccourt23, on 10/12/2007, -1/+3IT went down to 2.15 yesterday(Sunday) at Kroger where I live
- nazadus, on 10/12/2007, -1/+3What the crap?
I paid $2.20 at Kroger a few days ago. I even kept the receipt to prove it. - jazzo65, on 10/12/2007, -0/+2"Its really sad when people make that correlation. Who had majority of congress during Clinton's years.....Republicans."
There is a big difference between all three branches of the Federal government being run by one party (Republicans) versus the three branches of government being run by both Democrats and Republicans as in the Clinton years. You should know the difference. Why do you think some people are referring to Bush as King George (including a senator).
"Shortly after the low prices, they jumped up to $2 a gallon in less than 2 years, Clinton was still president."
Gas prices basically did not really go higher on a national average than $1.60 per gallon during the Clinton years (a few weeks during summer 2000) and were generally much lower. Americans did not experience $2 gas prices until George Bush became President. The push or increases up to $3 per gallon did not really start until after Bush beat Kerry and secured himself 8 years in the White House.
Here is a site (non-government) that will give you an idea as to the gas price averages during the the Clinton and Bush years.
www. lesjones.com /posts/002732. shtml - Y0tsuya, on 10/12/2007, -0/+2Conspiracy reading makes better tabloid reading while studying economics makes peoples' brains hurt. Guess which one joe sixpack is likely to choose?
- rekrapt, on 10/12/2007, -0/+2I remember being shocked the first time I went to Europe and saw fuel prices... hell, the price on everything. Even Carrefour was high compared to Wally-World.
How much of Europe's fuel prices are taxes? Any solid numbers? - msrite, on 10/12/2007, -1/+2It's $2.14 in OKC.
http://www.oklahomacitygasprices.com/ - saigumi, on 10/12/2007, -3/+4Also, your entire country is the size of just the state I live in and only one large city.
If you didn't have a decent and efficient public transportation system by now, I'd laugh. In New York, you can get away without having a car because it's public transporation rivals London. In Cape Girardeau, MO, you aren't so lucky. It's like being trapped in Southshore. - inactive, on 10/12/2007, -8/+9I like how the oil mafia is so upset that the artificially high price has gone down $10.00. That's quality, there.
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