Will Gas Prices EVER Get BELOW $2 A Gallon Again!!!

[ILS1]

Just shelled out $36 for 15.7 gallons of regular unleaded gas @ $2.28 a gallon for my Tahoe. Luckily,I still had close to half a tank still left in the gas tank!!! Will we ever see less than $2 a gallon again?? I think we'll see $3 a gallon WAY before we see $2 a gallon!!!


:mad: :mad: :mad:

[Phil C]

Not if the FAT CATs can keep it up.

[DaHop72]

Originally posted by ILS1
Just shelled out $36 for 15.7 gallons of regular unleaded gas @ $2.28 a gallon for my Tahoe. Luckily,I still had close to half a tank still left in the gas tank!!! Will we ever see less than $2 a gallon again?? I think we'll see $3 a gallon WAY before we see $2 a gallon!!!


:mad: :mad: :mad: I think you are right about that.

[lepfan]

Don't gripe...it is $2.39 and 2.49 up here!!!:mad:

[lepfan]

Originally posted by Phil C
FAT CATs FAT CATS are sitting pretty...I'll be glad when 2009 gets here.

[SWMustang]

Originally posted by ILS1
Just shelled out $36 for 15.7 gallons of regular unleaded gas @ $2.28 a gallon for my Tahoe. Luckily,I still had close to half a tank still left in the gas tank!!! Will we ever see less than $2 a gallon again?? I think we'll see $3 a gallon WAY before we see $2 a gallon!!!


:mad: :mad: :mad:

As long as there are people who need to drive vehicles that get 15to 18 MPG, gas will never get below 2 bucks a gallon.

[olddawggreen]

Originally posted by lepfan
FAT CATS are sitting pretty...I'll be glad when 2009 gets here.

Am I a Fat Cat?:confused: :confused:

[DaHop72]

Originally posted by olddawggreen
Am I a Fat Cat?:confused: :confused: By the sig, more of a fat jawled dog.:D

[Rainman]

A few weeks back it was less than $2.00 over on Barbers Hill

[lepfan]

Originally posted by olddawggreen
Am I a Fat Cat?:confused: :confused: Nope...the fat cats have their own planes and tv cameras ;) . You are a Dukey.... ;) :) (as we are)

[lepfan]

Originally posted by SWMustang
As long as there are people who need to drive vehicles that get 15to 18 MPG, gas will never get below 2 bucks a gallon. True, True!!!!! That is why I am now driving a car that gets around 35 mpg (hwy)

[SintonFan]

Originally posted by ILS1
Just shelled out $36 for 15.7 gallons of regular unleaded gas @ $2.28 a gallon for my Tahoe. Luckily,I still had close to half a tank still left in the gas tank!!! Will we ever see less than $2 a gallon again?? I think we'll see $3 a gallon WAY before we see $2 a gallon!!!


:mad: :mad: :mad:
.
If current production continues and new sources are found via shale and or/ ANWAR we might see gas below 2 bucks in 3 or so years. lol
Why not just convert your existing truck to propane?:thinking:
It'll cost you a few grand but it's under 2 bucks now and way less than that in the summer.:)

[olddawggreen]

Originally posted by lepfan
Nope...the fat cats have their own planes and tv cameras ;) . You are a Dukey.... ;) :) (as we are)

Thanks, I feel much better. ;)

[Adidas410s]

Assuming this eventually calm down in the Middle East (which WILL happen eventually) and/or some short run solution such as ANWAR comes along...then yes gas will likely go below $2. Being the son of a petroleum engineer, I am all too familiar for the oil industry and many of us on here remember seeing oil @ $60/barrel ($2.20+ @ the pump) and have also see oil @ $6/barrel ($.80+ @ the pump). Virtually ever commodity that has been in existence/production for 50+ years is a VERY cyclical industry that can be tracked in the long run. Because of the free market system that we have in place you will see the price of oil (and thus the cost of gas at the pump) go back to normal levels and eventually reach into low and even unprofitable levels. The only thing that would keep gas from going back below $2/gallon is if we see significant inflation of the American Dollar and thus the cost would be over $2/gallon.

[ILS1]

Thanks for your explaination and insight Adidas!!!


:D

[olddawggreen]

Originally posted by Adidas410s
Assuming this eventually calm down in the Middle East (which WILL happen eventually) and/or some short run solution such as ANWAR comes along...then yes gas will likely go below $2. Being the son of a petroleum engineer, I am all too familiar for the oil industry and many of us on here remember seeing oil @ $60/barrel ($2.20+ @ the pump) and have also see oil @ $6/barrel ($.80+ @ the pump). Virtually ever commodity that has been in existence/production for 50+ years is a VERY cyclical industry that can be tracked in the long run. Because of the free market system that we have in place you will see the price of oil (and thus the cost of gas at the pump) go back to normal levels and eventually reach into low and even unprofitable levels. The only thing that would keep gas from going back below $2/gallon is if we see significant inflation of the American Dollar and thus the cost would be over $2/gallon.

Unfortunately I'm not sure what "normal levels" are any more. A big reason for increased prices today is the increase in demand for oil on a world wide basis. I too have been in the industry for awhile (over 25 years) and have ridden the roller coaster of the petroleum industry. I have to say though that this appears to be different than the boom to bust that we have experienced in the past. The demand is much stronger than in past years. While I think there will definately be a slow down in the industry, as there always is, but I don't think we will see gas prices dip too far below the $2.00 mark for any length of time.
I also don't really expect things to calm down in the Middle East for any significant period of time. I'm afraid it will get much worse before it gets better, but it never really settles down. I have spent a little time there myself, and it is an extreemly complex area. Just my opinion.:) :)

[football4life]

no

[District303aPastPlayer]

Originally posted by football4life
no

thanks for your very insightful explaination :)

[CHS_CG]

last time I talked to Bullfrog_alumni02 and i was griping about gas prices he made me feel alot better... it was 2.80 in hawaii i was like :eek: :eek: holy crap

[SintonFan]

The one good thing about our wonderful nation is that because oil is so high many, many folks are working on capitalizing on it. From this we will see new technologies and sources of oil. Give it some time folks and let this nation, the greatest on the earth work on it. Eventially the price will come down just based on folks working on demand. Once demand is satisfied here somewhat the price will come down...
Nothing is guaranteed though as this world is very dynamic in supply(and demand) and even if we supplied all our own oil the price would still respond to the world markets' prices.
Bullaholic posting about what the juvenile nation of Iran rants about becomes more poignant with a little thought. But generaly the price SHOULD come down a little in a few years.

[bccards]

Seems like back in the day, gas prices NEVER fluctuated.. I remember seeing it .99¢/gallon, and seems like it stayed there for years and years without ever changing. I'd like to see gas prices stablize.

[spiveyrat]

Originally posted by bccards
Seems like back in the day, gas prices NEVER fluctuated.. I remember seeing it .99¢/gallon, and seems like it stayed there for years and years without ever changing. I'd like to see gas prices stablize.

How 'bout we hope they decrease and THEN stabilize. ;)

[JasperDog94]

Originally posted by spiveyrat
How 'bout we hope they decrease and THEN stabilize. ;) here, here.

It's getting expensive to run my boat.:mad: :mad: :(

[sww-bull52]

I agree with sintonfan that this is the greatest nation in the world, but I am getting an uneasy feeling that some people in the petroleum industry are just hoping that we get used to paying the high prices for fuel and they won't have to go down on prices. Unfortunatly, there are some very greedy people out there.

[pirate44]

i hate the high gas prices myself. but i have to laugh when people talk about the greedy fat cats. of course they are. but so is every (almost every) person complaining about the high prices. we benefitted from extremely low gas prices for so many years. like has been mentioned before, you would see prices stable under $1.00 for years as prices on everything else increased. we were greedy when prices started to go up and we complained. but how many people complained we werent paying enough, when the prices were so low.
my advice to everyone, get some will power and start driving 55mph in every zone posted above 55. i have been doing it for nearly a year (i think) and have saved a ton of money. once consumption goes down, we might have a chance that the prices will drop gradually.

[lepfan]

Originally posted by sww-bull52
that some people in the petroleum industry Look beyond just those who walk through the doors of the office...there are others connected with the industry who are laughing all the way to the bank while claiming to be doing all they can to make things better. Just my opinion.

[Phil C]

Originally posted by spiveyrat
How 'bout we hope they decrease and THEN stabilize. ;)

AMEN! :)

[Phil C]

Originally posted by lepfan
Look beyond just those who walk through the doors of the office...there are others connected with the industry who are laughing all the way to the bank while claiming to be doing all they can to make things better. Just my opinion.

Those are the Fat Cats! And don't think they weren't getting good money even before the high gasoline prices.

[Adidas410s]

Originally posted by Phil C
Those are the Fat Cats! And don't think they weren't getting good money even before the high gasoline prices.

Whoa...Phil making an uninformed comment for once! Never thought I would see that happen. As a point of reference, oil has to be at roughly $13/barrel for an oil company to "break even." In terms of gas prices, that equates to you paying about $1 to $1.10 in South Texas for a gallon of gas. So put that all together and you will realize that oil companies weren't turning such high profits during the mid 90's. The same can be said for the late 80's (88 and 89) and many other periods throughout history should you care to do some research on the industry.

The man isn't trying to get you down Phil...don't be so jealous because somebody else is making money off of a commodity that you are willing to pay for. If anybody feels that "gas prices aren't fair" THEN DON'T BUY GAS!!! If enough people were really THAT concerned with it then we would see a shift in the markets. However, gas has such an inelastic demand that people will continue to pay $2...3...even $5/gallon of gas. People just make shifts in their budget to accomodate for the higher gas prices. Case in point, I went from driving a Chevy Avalanche with it's 15 mpg average and 31 gallon tank to my VW Jetta with 25-30 mpg average and 12.5 gallon tank. Yes I pay more for my car (and more than I care to pay to be honest) but I have driven about 14,000 miles since September (mainly in search of a job) and I calculated that I have saved about $200 in the last 6 months by switching to a more fuel efficient car. Now if I would have only bought my car in San Antonio @ a VW dealership there instead of the one in Abilene...then I would have instead saved about $700 in the last 6 months!!! :mad: Note to all...don't buy cars from small volume dealerships....