March 21, 201511 yr It can be $1.50 here in March, but I can guarantee that when I'm pulling my boat though Michigan in June that it will be back to over $4 a gallon. Never fails.
March 21, 201511 yr I got it for $2.12 in Paris on Thursday. It was $2.15 traveling further north into Cynthiana. By the time I got to Falmouth, it was $2.49.
March 21, 201511 yr Been inching down daily in Bardstown for a while. Dropped a penny today to $2.08.
March 21, 201511 yr Paid $2.39 in Henderson this morning, got to Lewisport on my way to Hancock Co high school and it was $2.19.
March 21, 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. The reserves are why we will not see gas prices fall as far as you would think. The stockpiling of crude prevents it from being available to be refined and serves as a hedge that the prices will come back up. They'll simply keep this oil off the market until the prices come back up.
March 22, 201511 yr The reserves are why we will not see gas prices fall as far as you would think. The stockpiling of crude prevents it from being available to be refined and serves as a hedge that the prices will come back up. They'll simply keep this oil off the market until the prices come back up. So peak oil was a lie since we have millions of barrels sitting around to be processed?
March 22, 201511 yr Took my mom to E-town for dinner. On our way into toen, gas was 2.09. When we left at 8:30, Gas was 2.45. What happened in that hour?
March 22, 201511 yr Took my mom to E-town for dinner. On our way into toen, gas was 2.09. When we left at 8:30, Gas was 2.45. What happened in that hour? E'town being E'town.
March 22, 201511 yr There is always some lame excuse why prices shoot up 25-30 cents at a time, but they never fall that fast. The bottom line is oil/gas companies are gouging the public at every turn and our elected officials never say a thing because of oil company campaign contributions. If oil prices are that low, then gas should follow suite and stay low, but they don't.
March 22, 201511 yr In Maysville last night some stations had gas at $2.49 and some stations the price was $2.14.
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