March 19, 201511 yr Oil is down below $44 - lowest its been. Gas 'should' be back below $2 a gallon. In the Lexington market pricing follows a saw-tooth pattern. And has not well matched oil pricing. So 'should'...
March 19, 201511 yr Gas has dropped almost 20 cents in the last couple weeks up in my neck of the woods.
March 19, 201511 yr Gas has dropped almost 20 cents in the last couple weeks up in my neck of the woods. It had gotten down to 2.19 early this week, but we just had a .20-.30 increase in the last day or two around me.
March 19, 201511 yr It had gotten down to 2.19 early this week, but we just had a .20-.30 increase in the last day or two around me. Thats what you get for living in urbanville, lol.
March 19, 201511 yr $2.39 in Cincy defies logic as oil continues to fall. Just goes to show everyone the gouging/greed factor. Must be supply and demand huh peak oil people?
March 19, 201511 yr Gas has been around $2.19 for the last several days. I'll welcome any further price decrease, but I can live with it where it is currently. I mean, I just started some vacation planning and budgeting, and it was weird thinking that gas was over a dollar cheaper currently. Sure helps.
March 19, 201511 yr Author $2.39 in Cincy defies logic as oil continues to fall. Just goes to show everyone the gouging/greed factor. Must be supply and demand huh peak oil people? As the chart shows, in the Lexington market there is definitely a pattern that is disconnected from the actual oil pricing. I am sure Conway is looking into it...
March 19, 201511 yr Author Also, the legislature is supposed to be looking into the tax adjustment that is coming up. I did not realize that the tax is tied to the actual market rate of the gas price. I thought it was more fixed. Given the reduced use of gas and the need to keep the roads and infrastructure funded I would support not allowing the tax to lower. Gas taxes are actually a tax we do get a direct, real benefit from.
March 19, 201511 yr I haven't found anything to back this up yet, but I think investors learned an interesting lesson from the previous price drop shortly after Christmas: the drop in oil prices can be curbed domestically by a lack of refining capacity. Over the past couple years, domestic production has made the percentage of oil we need to import fall steadily. However, my understanding is that the capacity to refine domestically-produced light, sweet crude has not kept up as most of our refineries are set up to process heavier oil from overseas. So while the global prices fall, American production continues apace (resulting in the largest reserves of oil in the United States since the days when John D. Rockefeller was drilling it). The oil companies, on the whole, are less concerned with immediate price issues than they are with lobbying Congress to get rid of the export restrictions on crude. That combined with the restrictions on the construction of new refineries means that while the production increases, refining is not. Looking now at the numbers for just today: oil is down nearly 4.5% while futures for gasoline are down just over 1%. If that proves to be a long term trend, then maybe what I've talked about above is exactly what's going on.
March 19, 201511 yr Got it for $2.12 Tuesday but it's still $2.49 near home as the Ft Thomas BP continues to gouge.
March 19, 201511 yr My best friend works at the Marathon refinery. National union pulled them out of the refinery nearly 2 months ago now over unsafe working conditions. I know that their production is down roughly 40%. I'm sure when it's all said and done, the company will spin it differently. And they are one of 5 refineries that have been done this way. They expect to be back soon to work and then the local union will go to work on negotiations and that always goes in favor of the company. Not sure pulling them out is a benefit. After this long without work, the union votes to get back to work ASAP and often nothing gets accomplished to any large extent because guys have mortgages and truck payments and alimony. I have to wonder if that doesn't affect our current mild hike in prices. In Clarksville, IN this morning the Speedway was $2.59
March 19, 201511 yr Got it for $2.12 Tuesday but it's still $2.49 near home as the Ft Thomas BP continues to gouge. That is criminal it really is. $2.50 gas with the current price of oil isn't justified.
March 20, 201511 yr Was $2.19 yesterday, maybe this morning, in henderson. This evening on it is $2.49
March 20, 201511 yr Somerset was $1.89 a few weeks ago when oil was a bit higher...then gas jumped 20 cents and 40 cents in a couple of weeks back to around $2.49
March 20, 201511 yr London/Corbin area seems to be the cheapest in the state right now. Kentucky Gas Prices - Find Cheap Gas Prices in Kentucky
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