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Gas prices


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#21
icehater

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RBOB down to $2.02 this morning. The price at the pump has dropped more since I started this thread then RBOB has meaning the pump prices were behind and needed time to catch up. If this price point holds we'll probably see $2.40 prices in NJ for regular and for Sat he may see $2.25-$2.30 in SC.

One other thing that's interesting is that the price of energy, including oil and natural gas keeps declining despite the winter outlooks and the extreme cold in the Plains and upper Midwest this November. So either supply is very high or traders are discounting the weather and the outlooks.
Monmouth county NJ

#22
weatherbowl

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Been doing some traveling. Paid 2.68 in Jersey. 2.56 in southern Virginia and cheapest is 2.49 on South Carolina.North Carolina in the 2.70s.
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#23
icehater

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I've seen prices to $2.59 here in NJ now cash or credit. That same station was 2.75 for plus and 2.89 for 93 octane. I had filled up a day earlier at $2.84 for plus.
Monmouth county NJ

#24
NittanyLion

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Still $3.18 here in NW VT.
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#25
weathergeek87

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Just paid $2.55 for regular in Nutley, NJ this afternoon.
That was the cheapest I've seen so far.
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#26
icehater

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Some analysts are now predicting oil could fall all the way to $50 a barrel and lock in at prices that waver between $50-60 a barrel for a long period. My feeling is we see oil in the $60's and waver from $65-75 thru 2016. We'll see. There's huge supply, low demand and OPEC can almost never keep a lid on production no matter what they say.
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#27
weathergeek87

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View Posticehater, on 17 November 2014 - 03:48 PM, said:

Some analysts are now predicting oil could fall all the way to $50 a barrel and lock in at prices that waver between $50-60 a barrel for a long period. My feeling is we see oil in the $60's and waver from $65-75 thru 2016. We'll see. There's huge supply, low demand and OPEC can almost never keep a lid on production no matter what they say.

How low will that bring prices down to in NJ for regular?
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#28
icehater

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If it dropped to $50 you'd have gas prices at 2/3 rds of today's prices.
Monmouth county NJ

#29
icehater

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Very strong comments from Jim Cramer. He thinks in 18 months the US does not need OPEC and imports little to no oil. We always wanted to be self sufficient in oil. None of the analysts that predicted $400 a barrel oil back in 2006 or 2007 had a clue about what they were saying.
Monmouth county NJ

#30
GameOfLove

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With gas dropping isn't this cutting into profits for the oil companies? or will eventually.
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#31
icehater

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View PostGameOfLove, on 25 November 2014 - 05:29 PM, said:

With gas dropping isn't this cutting into profits for the oil companies? or will eventually.

Already has and if you invest or have a 401K it'll drag down any mutual funds the oil stocks are in. But if it turns around they'll surge. You can make a lot of money just playing the airlines when oil falls and the oil companies when it rises.
Monmouth county NJ

#32
icehater

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Another plunge in RBOB - now down to $1.91. Well soon be looking at $2.25 - $2.30 regular gas in NJ at the stations that aggressively price. RBOB is down 46 cents or 20% since I started this thread in early October.
Monmouth county NJ

#33
Mike_The_Golfer

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Oil tanking today. Now below $70 per barrel.
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#34
icehater

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View PostMike_The_Golfer, on 28 November 2014 - 11:41 AM, said:

Oil tanking today. Now below $70 per barrel.

Oil is down over 10% today and the RBOB gas futures at $1.90 Is for December. The January price is down to $1.82.
Monmouth county NJ

#35
icehater

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Cheapest prices I've seen for gas was in Hazlet NJ - 2.49,2.69 and 2.79 and 3.09 for diesel - all cash or credit prices. But this was before the 25 cents drop that happened on Friday. I was up in Hackensack and paid $2.73 (credit) for 89 octane yesterday at a BP station. If the quarter a gallon decline holds sway that probably shows up at the pump in a week or two. There's a guy in my backyard in Holmdel that hasn't changed his gas prices in 3 years. He's 3.99 for regular. There is no one ever on his station. He's clearly not driven by market changes or wanting to sell gas. The only time I've seen cars on his station were post Sandy when he was selling to medical personel with police regulating who cold buy. He was only 25 cents over market back then.
Monmouth county NJ

#36
lab94

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View Posticehater, on 02 December 2014 - 10:38 AM, said:

Cheapest prices I've seen for gas was in Hazlet NJ - 2.49,2.69 and 2.79 and 3.09 for diesel - all cash or credit prices. But this was before the 25 cents drop that happened on Friday. I was up in Hackensack and paid $2.73 (credit) for 89 octane yesterday at a BP station. If the quarter a gallon decline holds sway that probably shows up at the pump in a week or two. There's a guy in my backyard in Holmdel that hasn't changed his gas prices in 3 years. He's 3.99 for regular. There is no one ever on his station. He's clearly not driven by market changes or wanting to sell gas. The only time I've seen cars on his station were post Sandy when he was selling to medical personel with police regulating who cold buy. He was only 25 cents over market back then.

just paid 2.52 cash up here.
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#37
Mike_The_Golfer

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Finally have seen the first sub-$3 price in my neighborhood in Queens (saw a number of stations below $3 on Long Island last week).
You're only young once, but you have your whole life to be immature!

#38
icehater

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RBOB down another 10 cents a gallon to $1.71. $1.99 regular is becoming quite possible.
Monmouth county NJ

#39
weathergeek87

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View Posticehater, on 08 December 2014 - 03:20 PM, said:

RBOB down another 10 cents a gallon to $1.71. $1.99 regular is becoming quite possible.

Incredible. Not only is it dropping but it's staying low (as opposed to the drop and rapid spike we've seen in the past)
Paid $2.44/gal at the BP on Rt. 23 in Pompton Plains, NJ yesterday on my trek through the area.
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#40
icehater

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Keep in mind you haven't yet seen last Mondays quarter a gallon drop reflected in pump prices yet let alone todays dime.
Monmouth county NJ





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