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Gas prices fall to $1.80 in Missouri

09/27/2006, 1:55 PM

By admin

Gas prices dipped as low as $1.80 in Missouri today. This comes after prices of $2.05 in Iowa drew headlines just two weeks earlier. Days later, analyst Philip K. Verleger predicted prices could fall as low as $1.15. Verleger was the lone analyst two years ago who predicted oil prices would soar to record levels in the ensuing months. The U.S. Energy Information Administration has already stated it thinks national gas prices will fall to $2.25 a gallon. Weeks ago, the consensus among analysts was prices would fall to “around $2” by Thanksgiving.

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09/27, 1:56 PM

posted by:

Mehmet Chaaya

Still not a good enough reason to be livings there

09/27, 2:04 PM

posted by:

1c3d0g

May I ask why not (just curious)? And where *is* a good place to live?

09/27, 2:08 PM

posted by:

Mehmet Chaaya

I am likings paris and London and New York and Los Angeles and Sydney

09/27, 2:27 PM

posted by:

Madcapp

So what? that’s still $0.80 a gallon too much.

09/27, 2:30 PM

posted by:

Madcapp

I forgot to add, when election time and Christmas shopping season is over, its going right back up. Wait and see.

09/27, 2:41 PM

posted by:

Random Jerk

Madcapp, who is pulling the stings? The President? Oil companies? Oil Shieks? Illuminati?

09/27, 2:46 PM

posted by:

Scott Kempton

I agree with Madcapp. The lower gas prices are nice, but if anyone thinks they’re going to stay that way, they’re kidding themselves. Random Jerk—I don’t know who’s pulling the strings, but someone is. I’m absolutely convinced that gas prices have little or nothing to do with “market conditions”. Whoever is pulling the strings pulls tighter and tighter until we all collectively scream (meaning we stop buying as much gasoline), then they ease off on the prices for awhile, then they raise them back up, higher than they were before. We’d all do well to buy a bicycle.

09/27, 2:48 PM

posted by:

Kaptain75329

A few questions from boortz.com:
.
1.) I thought Bush was an idiot. If he’s so dumb, then how is he controlling the price of gasoline and the world price of oil? Surely such an intellectual lightweight is incapable of lording over the worldwide energy market and controlling it.

2.) If Bush controlled energy prices, wouldn’t he keep gasoline cheap all the time, ensuring Republican domination during his entire presidency? Why did he allow the gas prices to go up in the first place? During his 2004 campaign…when gas prices were high and hurting his re-election campaign, wouldn’t it have been handy to call all the gas stations and knock a buck or two off the price?

3.) And last but not least, why are gas prices only around $2 right now? Surely if the GOP operated the gas price lever, they would drop it down to around a dollar…ensuring a sweeping victory in November.
.
The fact that most who believe this nonsense are Democrats is telling. With their government educations, it is just impossible to explain to some people how simple supply and demand and economics work.

Sadly, what we’re really seeing here is pure evidence of the rampaging ignorance that exists to far to great a degree in our population. These people don’t know the difference between a profit and a profit margin, but they by-God know that Bush is manipulating the price of gasoline.

09/27, 2:59 PM

posted by:

Piablo

For those who would like to know how oil prices are actually derived, here is a link to an article that explains it very well.

http://www.msnbc.msn.com/id/14891597/

It’s easy to promote stereotypes, hatred, and pure ignorance. But I challenge all to accept truth. Stereotypes and hatred go both ways, and it helps no one.

09/27, 3:10 PM

posted by:

peter g

The lower gas prices are nice for you americans and, to a certain extend, world economy and I suggest you enjoy it as long as it lasts. Scott Kempton is right when he debates that oil prices has nothing to do with market conditions, it’s all about politics in the end.

09/27, 3:18 PM

posted by:

imageWIS

But it is also ignorant to think that the oil retailers, which control the retail end of the business don’t have a say at part of the prices they set, which of course includes the cost of refining, an industry which is also under their control.

Jon.

09/27, 3:22 PM

posted by:

Vdub

Bush in an alliance with the oilers such as his VP to maximize their profits?? get out of here! its just a coincidence that gas prices are lowering 1 month before midterm elections.

09/27, 3:37 PM

posted by:

peter g

I think Mr. Bush really, really would like to be able to control oil prices, but seriously who really believes he’s capable of doing that?!

09/27, 3:46 PM

posted by:

mertzen

And to my amazement stations around NYX still chargre over $3.00. It pegs the question what idiot buys their gas there?

09/27, 4:31 PM

posted by:

Piablo

Mertzen, gas prices in NY are actually due to the State switching over to their “winter blend”. I am being serious. So all of that gasoline, essentially the summer blend, was bought at the high barrel prices. Until it runs out, prices will not be reflective of the market. Having a different blend from everyone else comes at a cost.

09/27, 4:50 PM

posted by:

davidg1977

Kaptain… very happy to see there’s another boortz-ian on this site.

used to live in atlanta so listened all the time, now in detroit (a blue state) and there’s no coverage.

——————-

i am astonished with people’s conspiracy theories…

09/27, 4:58 PM

posted by:

James

Does anyone think this drop in gas prices will help resolve the slumping SUV and large truck sales? I was concerned with gas prices when I was paying $4 a gallon (91 octane, California), but now it’s down near $2 and I really don’t worry one bit about it anymore.

James
http://www.CarTV.com

09/27, 5:34 PM

posted by:

Brian

$1.80 is nice compared to $3.00. In Virginia we’re hovering around 2.20

09/27, 6:19 PM

posted by:

AuDub

i just have one question..
then why IS the gas price going down so dramatically JUST before the election?

09/27, 6:30 PM

posted by:

Mike_Rundle

A few weeks back I was traveling from Raleigh to Atlanta and saw $2.07 for 87 octane in South Carolina…. damn cheap.

09/27, 6:52 PM

posted by:

IndianaJones

I thought everyone knew that the money changers in the temple set the price of oil and gasoline. ;-) Have to cut the post short… gotta go buy myself a four-door pickup.

09/27, 6:56 PM

posted by:

Kaptain75329

davidg1977: Reassuring to know that I am in good company. I do indeed enjoy that show more than I should be allowed to – used to listen all the time in Florida, but since I moved I can only stream off the internet. I live in Virginia now just a few minutes away from Washington DC, so these asinine theories float around here all the time. The kind of over-the-top crapaganda that people espouse is enough to turn nearly anyone into a doubter of all things liberal, if not outright convert them to libertarian conservatism.

09/27, 7:04 PM

posted by:

Robert

I’m a liberal, through and through, and while I know markets can be manipulated (here’s a good history lesson, go learn about JP Morgan and his ability to direct our markets or Enron’s more insidious motives) and certainly, if anyone had the ability and motivation it would be the Republican party at the moment, it would take really coordinated efforts to make gas prices fall this much if it were not a market force of some type, and all that coordination would leave a paper trail. No, I will give the benefit of that doubt and say that Bush and/or his supporters are NOT in fact doing this.

My guess is that speculators in the energy market were counting on three things: 1) a slower, more expensive transition to ethanol reduced gasoline, 2) more plant and oil-rig shutdowns due to hurricanes and 3) a larger growing economy. With none of these fears realized (or at least the hopes diminished on the third point), we are left with falling prices.

Doesn’t mean I’ll vote for a party whose current administration put a 24-yo without any financial experience in charge of rebuilding the exchange in Iraq simply because he was “conservative” or whose appointed Defense Secretary did virtually nothing after the fall of Sadam because he didn’t understand the necessity and sensitivity of “state building” or whose “fiscal responsibility” has overseen the growth of “pork” from 4,000 items to 28,000 items in the last 12 years or who wants further tax cuts despite the fact that our government has structural deficits not related to war activities which drag down economic progress more than high taxes or, most importantly, who cannot admit that Iraq is a disaster and a sectarian civil war where we need to try new strategies (less troops, more troops, division of territories, economic strategies), not just more of the same.

09/27, 7:06 PM

posted by:

Robert

Actually, let me refine that. I’m not a liberal through and through. I’m more a libertarian. Not a full blown one, for sure (sidewalks shoul NOT be privatised), but I certainly like efficient government structures, prudent international policy that promote real economic growth and keeping religion out of government.

09/27, 7:15 PM

posted by:

Kaptain75329

“i just have one question..
then why IS the gas price going down so dramatically JUST before the election?” – Comment by AuDub
___________________________
dude. It’s not complicated. Corporate Terrorist-in-Chief Bu$h issued a fatwa — err.. executive order.. — threatening BIG oil if they don’t flip the switch to “low” on the gas price calculator machine in Texas.
.
or…

It could have something to do with that big oil find in Nigeria, which just happens to be the biggest raw oil discovery in about a decade. (That means roughly TEN (10) years.) Or maybe those refineries damaged by Katrina…? you know, the ones that have been largely repaired (if not completely fixed yet) are actually helping to increase that annoying “supply” part of the equation? Might be the lower than expected sales lately – perhaps a result of the sticker shock that forced people to conserve more than expected, thus reducing the obnoxious “demand” part of the equation. Ask GM what happens when you have too much product and not enough customers. (Free cluepon : it has something to do with incentives and lower prices.) I can’t be too sure, but I hear the end of the summer driving season has a lot to do with it too. Less vacations translate into less flying and driving for some odd reason. Damnit. Maybe this is complicated afterall. It’s all Bush’s fault anyway.
.
p.s.: it would help if you read the link posted by Piablo. Check it out.. learning is good for you, I promise.
http://www.msnbc.msn.com/id/14891597/
.
=/\= Kaptain75329

09/27, 9:52 PM

posted by:

InvisibleEcho

A thought:
How is Bush going to control the oil prices if he can’t even control a Segway?
http://politicalhumor.about.com/library/images/blbushbalancing.htm

Now, people in power do have ways to control prices on things, sure. If anyone is controlling it I bet it’s someone under Cheney’s influence. There are people out there we probably have never seen yanking on some strings somewhere. Or some of the economic and socio-political factors already mentioned – don’t fell like repeating them because they speak for themselves.

And no, since this is Missouri we’re talking about, it’s not worth moving there for the gas. The Midwest always seems stuck about 10 years behind the East/West coast. Well, I haven’t been out there in awhile, so maybe that changed. But I doubt it.

09/28, 12:40 AM

posted by:

minduza

ye when election is out its going up, never seen that in one monthprices would go down so lowwww, its lke a buck cheaper

 
 
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