Gas prices down another 10c a gallon this week..

[RC45]

..man it's nice to live in Texas...

That makes the total price drop since the Hurricanes came through almost $1...

[graywolf624]

About the same here... So far my predictions are holding, though I know better then to say I told you so until my prediction is reached.

[nthfinity]

its $2.36/gal here now... its been going down 10c per week for a while now just 14 weeks to go

edit:
Sod the diesle guys cetane and home heating oil comes from similar places.. theya re running more then ever @ 2.99-3.35/gallon

[graywolf624]

Sod the diesle guys cetane and home heating oil comes from similar places.. theya re running more then ever @ 2.99-3.35/gallon

Not completely true.
Diesel and other heavier oils come from a different portion of the barrel. One postulation my father used(I disagree with it from a gas price perspective based on my speculation belief, but he did once drive a gasoline truck so it's not like he's a complete newbie to the discussion) was that a ramp up in diesel production has occured and as a result the gas price has dropped based on the increased production of what is left over.

I'm just curious to see if my prediction here about a few months ago that everso and some hedge fund trader attacked me on, will come to fruition. Given I said less then 2 dollars a gallon within a year, I'm pleased at my position. However, I don't know if I were forbes with the 1.20 prediction I would be feeling positive just yet.

[nthfinity]

http://tonto.eia.doe.gov/oog/info/twip/twip.asp

However, the supply/demand balance is much different for diesel fuel. Diesel fuel and heating oil are both included in a category labeled distillate fuel in our weekly surveys. These products are very similar, with the notable exception that diesel fuel for highway use has less sulfur in it. To the extent that diesel fuel can be used as a substitute for heating oil, the two products often find their prices moving in similar directions. Since heating oil prices are generally highest when demand for the product peaks, diesel prices also often peak as cold weather occurs, as owners of diesel-fuel-powered vehicles will tell you. As can be seen from EIA’s data, demand for distillate fuel often increases from September to October. This is typically a result of slightly colder weather in October, but it also relates to increased use of diesel fuel in the agriculture sector during harvest time. While demand for distillate fuel seasonally increases over this period, supplies have grown substantially less than those of gasoline. While distillate fuel production has increased some as a result of most refineries returning to normal operating levels following the hurricanes, it has not grown by nearly as much as gasoline production. We have not seen record imports for distillate fuel either. In fact, up until last week (the week ending October 21), distillate fuel imports were possibly even lower than they typically would be, as strong global demand for diesel may have limited available supplies from other countries. As a result, retail prices for both diesel fuel and heating oil have not dropped like those for gasoline. Nevertheless, with distillate fuel imports last week reaching their highest level since January 2005, and with most of the increase in refinery production seen in distillate fuel rather than gasoline, there may be signs that the distillate fuel supply situation is improving. But with the first bout of much colder-than-normal weather hitting the East Coast this week (where most of the heating oil use occurs), demand is likely to increase as well. How fast supply and demand for distillate fuel rise will be the largest determinant for the future path of diesel fuel prices.

[graywolf624]

huh.. This article is talking about heating oil and diesel comming from the same place. Both are outrageously high.

This isnt talking about these and gas comming from a similar location. Gasoline being the value decreasing.

edit- oh I apparently misunderstood your first statement that I quoted.

[RC45]

Well - gas price was down another cent when I passed the station at lunch time

[nchs09]

Originally Posted by graywolf624 Sod the diesle guys cetane and home heating oil comes from similar places.. theya re running more then ever @ 2.99-3.35/gallon One postulation my father used.

i read... " one prostitue my dad used :"



:nervous

[blinkmeat]

Time to buy stocks in the pipline industry in Canada

[Sachmo12345]

i noticed that i am relieved when i see premium at 2.45$ per gallon when a year ago i wouldve been really pissed. They are training us to pay more.

[blinkmeat]

^^
:shock:

[RC45]

Prices will be at $1.80 a gallon before Christmas..

[TransAm]

Originally Posted by RC45 ..man it's nice to live in Texas... That makes the total price drop since the Hurricanes came through almost $1...

still a shocking $2.49 a gallon for premium though :x

[RC45]

Originally Posted by Ronin005 the gas will be low, but the oil for heating your house will rip you a new asshole!!

I told you people that living in the snow belt is moronic...

Now you pay - through your newly ripped 2nd arsehole

[blinkmeat]

but the snow is awesome