Price collapse or 5 dollar gas…

[Robert Edmonds]

Though for the vacationers, even if you know how many days you are gonna chase, you have no idea how many miles you are gonna put on, using your 750 miles a day (which I can definitely see being high) would merely mean a $400 or so difference in your budget for every $1 change in the price of gas. I'd say its pretty likely for a $400 error in budget to occur due to your 750 miles a day prediction being off, so rather gas is $3.00 a gallon or $4.00 is really no big deal.

$400 is a big deal when you're a grad student making ~18-20k a year. Now that I have setup my vehicle so I catch some sleep in it, my expenses largely reside in gas, food, shower, and data. Food being ~$15-20 a day, shower few dollars, data ~$50 a month, and gas ~$30-60 a tank (depending on price). I think from this I can say gas being $2 vs $4 has a big effect as to how frequent I go out for a trip to the plains.

 

[Olivier Staiger]

OKC now has gas as low as 2.29 a gallon , see here :
http://www.oklahomacitygasprices.com/

interesting to notice also that Tornado Alley's OK and KS have among the cheapest gas in the nation , see this map :

http://www.oklahomacitygasprices.com/Price_By_County.aspx?state=OK&c=usa

 

[Dustin Wilcox]

I think from this I can say gas being $2 vs $4 has a big effect as to how frequent I go out for a trip to the plains.

Ok, so why worry about the what the price of gas will be now? If your worried about how frequent you can make a trip to the plains just save what you can despite the prediction of gas prices, and then determine come spring how much you saved and how much gas costs at that time, and then determine how frequent you can make a trip to the plains, seems pretty simple really...

 

[Robert Edmonds]

Ok, so why worry about the what the price of gas will be now? If your worried about how frequent you can make a trip to the plains just save what you can despite the prediction of gas prices, and then determine come spring how much you saved and how much gas costs at that time, and then determine how frequent you can make a trip to the plains, seems pretty simple really...

I was just wondering what everyone's take on what the price will be on gas next year, not on the relevancy of the question. It appears most here believe that gas will be back to its same level next year. Which is unfortunately where I see it heading too. Either way I'll be out there...

 

[Verne Carlson]

The gas prices we're seeing right now are a short term reaction to the falling market. OPEC is going to cut it's production and drive up prices so expect at least $4.00 gas by next May. The world oil supply will only last for another 30 years or so, so expect that what remains will go at a premium!

 

[rdale]

The world oil supply will only last for another 30 years or so

This seems pretty far off the "advanced weather discussion" theme, but there's no reputable source of information that states such a thing. The supply RATES might peak in 30-50 years, but we certainly aren't going to run out.

http://www.eia.doe.gov/pub/oil_gas/petroleum/feature_articles/2004/worldoilsupply/oilsupply04.html

 

[Shane Adams]

OKC now has gas as low as 2.29 a gallon , see here :
http://www.oklahomacitygasprices.com/

interesting to notice also that Tornado Alley's OK and KS have among the cheapest gas in the nation , see this map :

http://www.oklahomacitygasprices.com/Price_By_County.aspx?state=OK&c=usa

And it all started the week after my car crapped out; first time I've been walking in four years and the cheapest gas in over a year. Figures.

 

[Chris Nuttall]

MOD NOTE: As someone pointed out, this isn't really "advanced weather discussion." I'm moving this to Equipment. It fits better there. Gas and chase vehicles fall under the realm of chase equipment, IMO.

 

[Jason Foster]

Yeah...I have to say my original estimate of 5.25 per gallon as of May 1st, 2009 doesn't seem quite right in light of the recent events. However, I seriously doubt that we'll see prices much less than what we paid this past May. As Verne said, OPEC will certainly make sure prices don't dip too much.

Bottom line, everyone should have been saving money for fuel since the end of last season.

 

[Chris Hayes]

There have been a few periods where oil prices spike upward then collapse and prices remain steady for a while thereafter. Will this be another one of them drops where prices remain steady between 2 and 3 dollars a gallon? I hope so, but I doubt it. When the stock market (an economic predictor of sorts) surged upward nearly 1000 pts today, oil prices shot up 3 dollars a barrell. If we would get another 5-10 million barrells of oil a day online before the recession is over (which is impossible in the current anti-oil environment) we could be in good shape. We have 2 trillion barrell of shale oil in the continental United States that we need to get online in a large way. That's a great way to get us oil independent for a period of time while R&D is underway for hydrogen. However there's no way the politicians will allow development of it.

 

[Chip Redmond]

With gas at about 2.80 except for in town here where its still 3.19 I think this is a much more suitable price for gas. Honestly I hope it stays right about here. I wouldn't mind more of a drop but that just means it will kill when they jack it up two and a half bucks the following week. Honestly with gas going this low suddenly, it makes me wonder more about the economy. I usually don't care to much at the moment although I have to pay more for food and whatnot, politics aren't my focus. There is nothing I can do personally to improve the economy so why bother with worrying about it. However, it bothers me to see it flux this much and go the opposite way than what we are used to.

Chip

 

[Tony Laubach]

And it all started the week after my car crapped out; first time I've been walking in four years and the cheapest gas in over a year. Figures.

So why didn't you break your car a couple years ago?

A chaser buddy of mine reported $2.99 gas around the Metro area.. I've seen it as alow as $3.12 here.. going down fast, though, so yea!

 

[Greg Stumpf]

$2.31 at a 7/11 near my house in Norman today at 5pm.

 

[Matthew Fischer]

boy must be nice paying 2.31 for gas. Here in suburban chicago area. its 3.47 at the discount gas place, then 3.52 at the shell and bp!

 

[Jason Foster]

boy must be nice paying 2.31 for gas. Here in suburban chicago area. its 3.47 at the discount gas place, then 3.52 at the shell and bp!

Ditto here in the DC area. I actually took a picture of a station at $3.09 9/10 per gallon because I thought that was low...and that was 40 miles outside the DC region.

Don't react too much to today's upswing...there is still tons of stuff to worry about....the stock market is only part of the situation...and other facts also have factors on the gas pricing, and if we can afford the gas or not.