Price collapse or 5 dollar gas…

[MatthewCarman]

Gas prices just jumped here in Iowa a few nights ago. It was less than 2.00$ in some areas but now it is back over 2.00$ around here. Still very cheap compared to what it was but it is starting to climb back up.

 

[Mark Farnik]

Gas continues to drop here in Denver, with some stations charging as low as $1.79 for regular unleaded, but most of the stations in Denver are running in the $1.90 to $2.10 range. The last time I remember gas being under $2 a gallon was when I was still in middle school in 2002-2003!

Of course, I just filled up my car three days ago for $2.16, but it only cost me $30 even to fill up with 14 gallons, and my cash lean college student wallet is singing an almighty 'Hallelujah' as gas prices continue to creep downward...

With the latest economic projections showing the recession lasting through mid to late next year, and with oil prices being so heavily dependent on the strength of the economy, I think it would be safe to say that these gas prices aren't going back up anytime soon... some marginal increases are certainly possible around heavy travel times, but I think it would be safe to say that gas will be well under $3 a gallon come next chase season.

Well, ladies and gentlemen, it looks like the 2009 chase season is shaping up to completely buck the trend of the skyrocketing chasing costs due to fuel prices witnessed last few years and will make storm chasing a truly affordable proposition once more (at least for this season, anyway.)

I know for certain that, as work and school permit, I will be out as many times as humanly possible this coming season taking full advantage of these dirt cheap fuel prices

 

[Mike Smith]

$1.84 in Wichita. $1.67 in Independence, MO!!!

 

[Maggie Kahman]

Its 1.99 here in Hastings

 

[Chris Hayes]

Gas as low as 1.87 here in Canton now. Oil is down to 57.20 a gallon during interday trading, and have continued to fall. Amazing to see oil prices have collapsed to nearly 2/3 of what they were. Gas prices should continue to fall. Wouldnt be surprised to see them as low as 1.50 in the coming months.

 

[Adam Penney]

I just filled up this morning, here in Lee's Summit, MO for $1.64.

 

[Jim Saueressig]

We are under $2.00 but I am starting to think that it is too low. What next? Will they blow something up that is oil related just to get their profits soaring again?

 

[Ryan McGinnis]

I think the fear train has left the station as far as the oil sector goes. Futures markets are far too worried about the mere anarchy that is about to be loosed upon the world to get jittery about supply. You have to remember that the reason oil would spike on supply bumps before was because the futures traders had convinced themselves that demand was on skyward trajectory and supply was maybe being constrained by the beginning of peak oil. They've cured themselves of that delusion now.

 

[Leah Robertson]

Gas is finally down to a $1.97 here. Thought that would never happen considering NM has the 8th highest average in the nation.

 

[Tony Laubach]

Paid $1.76 on Friday here in Denver!!!

 

[Jeff Richardson]

Running $1.70.9 here in Tulsa. Wishful thinking has me hoping prices like these will last through the spring chase season! :-D

 

[Jason Boggs]

It finally got to 1.79 on the east side of Amarillo.

 

[Jason Foster]

I know this doesn't seem cheap to those in the plains....but I saw $1.899 near Annapolis, Maryland and Cambridge, Maryland..on the eastern shore. In town (DC), it is still around $2.35-$2.45 and in the burbs maybe $0.10 cheaper.

 

[Dan Cook]

Paid $2.16 today; last time I paid anything that low in Chicago was in early 2005.

 

[Ben Prusia]

Filled up after work this morning for $1.54 in Independence, Missouri (home of the lowest gas prices in the US). I see that it went even lower this afternoon. $1.50 is reported somewhere in that city today. I do like the US gas price forecast, hopefully no $3+ gas next year...