Here in South Carolina I have seen gas as cheap as $2.29 a gallon. Closer to my house gas averages around $2.35 a gallon.

I was surprised to see gas get below $3.00. I later wished to see prices below $2.50 and surprisingly prices reached that. I will be very surprised if prices drop to $2.00.

It is around $2.60/gallon, down here in central Florida.

....
 

I love it too.... Hope they stay..please please please!

$2.71

Paid $2.75 here in Nor Cal today.

Here in Missouri, it's $2.48 a gallon. Filling up My truck is not as painful.

Albuquerque, NM
2.49 ---> what I paid a few weeks ago.

Not to be a party pooper but all these gas prices dropping means that many people are out of work who work on the oil rigs down here in the South.

Not a good thing during the holidays.

Thank you and carry on....

Why are people out of work? Gas prices have gone down, but we're still using the same amount. Am i missing something?

Not being sarcastic or mean...really don't understand.:bunchflowers:

Until recently, California consistently had some of the highest gas prices in the US, in spite of having refineries.

I paid $2.69 a gallon this week.

California Oil Refinery Locations and Capacities
Classification of refiners based on crude oil capacity (barrels per day)
Information as of November 2014

Refinery Name Barrels Per Day CARB Diesel CARB Gas

Tesoro-Carson 240,000 Yes. YES
Chevron U.S.A. Inc.,
El Segundo Refinery 276,000 Yes Yes
Chevron U.S.A. Inc.,
Richmond Refinery 245,271 Yes Yes
Tesoro Refining & Marketing
Company, Golden Eagle
Refinery. 166,000 Yes. Yes
Shell Oil Products US, Martinez Refinery 156,400 Yes Yes
ExxonMobil Refining & Supply Company,
Torrance Refinery 149,500 Yes Yes
Valero Benicia Refinery 132,000 Yes Yes
Phillips 66, Wilmington Refinery 139,000 Yes Yes
Tesoro Refining & Marketing Company,
Wilmington Refinery 103,800 Yes Yes
Valero Wilmington Refinery 78,000 Yes Yes
Phillips 66, Rodeo San Francisco Refinery 78,400 Yes Yes
ALON USA, Bakersfield Refinery 66,000 Yes Yes
Paramount Petroleum Corporation,
Paramount Refinery 50,000 No Yes
Phillips 66, Santa Maria Refinery 41,800 No No
Edgington Oil Company, Long Beach Refinery 26,000 No No
Kern Oil & Refining Company, Bakersfield
Refinery. 26,000. Yes. No
San Joaquin Refining Company Inc.,
Bakersfield refinery. 15,000 Yes No
Greka Energy, Santa Maria Refinery 9,500 No No
Lunday Thagard, South Gate Refinery 8,500 No No
Valero Wilmington Asphalt Refinery 6,300 No No

Note: Data on this table represents total crude oil capacity not gasoline, distillate production, diesel fuel production or production of other products. Production potential varies depending on time of year and status of the refinery. A rule of thumb is that roughly 50 percent of total capacity is gasoline production (about 1.0 million barrels of gasoline - 42 million gallons - is produced per day).

Source: California Energy Commission Fuels Office Staff.

Terminal Facilities

California's nearly 100 terminals receive petroleum and petroleum products by tanker, barge, pipeline, rail or truck. Most of California's terminals are marine terminals. At these facilities petroleum or product is transferred from or to tankers or barges. Tankers loaded with Alaska North Slope petroleum, for example, enter marine terminals in northern and southern California, where the crude oil is then sent to refineries by pipeline for processing. An example of pipeline receipts of petroleum at a terminal is heavy California petroleum produced in the Bakersfield area that is sent by pipeline to a refinery at Martinez.

Terminals also serve as refiner's wholesale distribution points for products. Product, such as gasoline, is sold to distributors (jobbers) who then sell to consumers through the distributors' own retail stations. The distributor may also resell the gasoline to other station dealers. Gasoline can also be sold directly to station dealers from the terminal. The marketing structure differs depending on the type of product being sold.


http://energyalmanac.ca.gov/petroleum/refineries.html

The local new said that the highest price gas is $1.86 a gallon...

$2.48 merry xmas!

I saw it for $2.39 today.

Love the Gas Price Thread and the Weather Report Thread!

Gas is 91.2 cents and the temp is -3 :snowballfight:

Hey, Anya. I'm lost. What is the point you are trying to get across by having the below article and is it somehow in response to dee's comment? I am totally missing the boat on what the article is saying, I suppose.

In Charlotte the cheapest I've seen is 2.47. The norm seems to be 2.52-2.55 right now. It's about .10 cheaper (or more) in SC which is not far... If I'm going that way I get it but I'm not going to SC anytime soon....

Yes, I understand that. Rather than being direct, I was indirectly but clumsily responding to Dee's post about decreasing gas prices causing oil rig workers to lose their jobs.

Production continues here in California, despite the drop in prices. However, what happens in the south may indeed be different than what happens in the west.

When I started to research why gas prices go up and down in California and how it ultimately affects us, the consumer; I realized it is a far bigger issue than on the surface of what we pay for gas.

I do apologize for deviating from the intent of the thread, which is "What are you paying for gas right now"!

It is a great thread!

...
 

It dropped .13cents over night now at $2.44.... Love it

No, please post anything that might help us understand! I have been surprised (and pleased) by falling prices...but WHY are they falling, and when are they going to hike them again?

As you know, here in California prices are down over $2 per gallon....the oil companies are not known for their low prices and lack of billions in profits; it worries me that we are going to see huge jumps just when we have gotten used to having some spare change in our pockets.

Is that 91.2 a liter?

.......$2.55............ For regular gas

$2.43/gallon, that's with a .03 grocery store discount - near the south side of Atlanta, GA

i'm in canada right now its 0.88-0.91 a liter i dont know how much that is per gallon. compaired to before it was 1.19 a liter

Anya, Ms.Tinkerbelly is right, I am interested as well why prices are so low. It seems like an appropriate direction for the thread.

I hope that dee comes back and explains. Honestly, my understanding is that the oil production has not changed and the talk of less work is Republican propaganda. I thought maybe this is where you were going...that is why I was so interested in understanding the article.

Kelt? (I was thinking I could go google it, but why do that when Kelt already knows the answer?):nerd:

I have several cousins that work in the oilfield industry and they aren't being laid off, they are actually working overtime drilling more locations and re-opening the closed pumping sites that were shut down during the 1980's to preserve our oil in the ground for future needs. There is also a boom in a northern state of one of the Dakota's that is drilling like mad there and hiring new oilfield workers. My neighbor's son in law took a job up north in the Dakota's drilling for oil. He makes more money there than he did here in the south working on a drilling rig.

Also, here is an article that helps us to understand why gas prices are falling :


http://www.huffingtonpost.com/2014/1...n_6062056.html

ETA: gas here East of Dallas an hour is 2.13/gal and dropping everyday.

(f) It's a thread about gas prices and I believe open for conversation, thank you for posting. I am DELIGHTED to be having a conversation on the sight again! I so get tired of one word threads!

This article in the Economist "Cheaper Oil: Winners And Losers" is a pretty good look at the global nature of this round of shifting oil prices and addresses some of the region specific outcomes of the current situation. Bear in mind it is about seven weeks old, but the underpinnings are still accurate. And there are charts! :)

Here is a short excerpt on the effects in America and some of the extraction methods:

"The impact on America will be mixed because the country is simultaneously the world’s largest consumer, importer and producer of oil. On balance cheaper oil will help, but not as much as it used to. Analysts at Goldman Sachs reckon that cheaper oil and lower interest rates should add about 0.1 percentage points to growth in 2015. But that will be more than offset by a stronger dollar, slower global growth and weaker stockmarkets.

Extracting oil from shale is expensive. So when the oil price drops, America is one of the places most likely to pull back (Arctic and Canadian tar-sands producers are even more vulnerable). According to Michael Cohen of Barclays, a bank, a $20 drop in the world oil price reduces American producers’ earnings before interest by 20%, and only four-fifths of shale reserves are economic to extract using current technology with Brent around $85. How quickly production will fall as a result, though, is unclear, since producers’ costs vary and some have locked in prices via hedging. The impact will also vary by region. “If I’m in California, it’s pretty clear-cut that this is a good-news story,” says Michael Levi of the Council on Foreign Relations, a think-tank. “If I were in North Dakota [the biggest shale-oil state], I would be a lot more nervous.”

America is a net importer, so lower prices mean Americans get to keep more of their money and spend it at home. But the stimulative impact is less than it used to be, since imports are becoming less important, and oil is shrinking as a share of the economy."


There's also the fact that the Russian economy is basically folding in on itself due their (Putin's) reliance on the earlier high price profits to escape the effects of sanctions. Here's an article from Al Jazeera: Russian rouble in 'catastrophic decline'

Oh yeah, right now I've got $2.29 gal. :)

According to this dee, they are actually drilling MORE which is why the prices are down. I'm sorry someone in your family isn't working.

http://americasmarkets.usatoday.com/...st-since-1972/



EDIT:

<Kelt's boring post> Hey, man, thanks! Good stuff, good stuff...<cough>

$1.89 here in OKC

How silly of me! Of course I should have focused on the shallow US centric 5 month old news. :rofl:

I mean, thanks Dapper, that was very readable. :glasses:

(All in good sport :))

today here in dallas i paid 1.99 for it. i drove by the station this morning and it was 2.12.

i heard an interview with boone pickens that the "problem" with falling gas prices is that there is MORE oil then demand and that we need to STOP producing it so that prices will raise.

im glad i was sitting down cause i would have fell down. I think we should be more oil/gas independent, but i think we should be more independent and STOP trying to tell the world that our way is better then anyone else. Just my .02 worth

stepping off my soap box now

Gas in my area averages $2.20 a gallon.

I agree with the desire for oil independence. I think one unintended side effect though is that this will hurt the demand for more renewables. Hard to figure out a balancing point. :(

Depending on the article, different projections and perspectives...
 

Oil Falls to 5-Year Low, and Energy Companies Start to Retrench

By CLIFFORD KRAUSS DEC. 8, 2014

HOUSTON — The price of crude oil continued to collapse on Monday, plunging to a five-year low, as oil giants began to scale back their drilling ambitions and pare the ranks of their workers.

On the same day that the American oil benchmark traded around $63 a barrel, down more than 4 percent, ConocoPhillips announced it would cut investment spending in 2015 by 20 percent, the biggest sign yet that major oil companies are contracting.

The announcement came on the heels of BP’s notice that it would cut middle management and other jobs in the months ahead.

Both moves suggested that the 40 percent drop in oil prices since July had spread pain beyond small exploration companies that were highly leveraged and most vulnerable to oil price swings.

“We are setting our 2015 capital budget at a level that we believe is prudent given the current environment,” said Ryan Lance, ConocoPhillips’s chairman and chief executive.

But even with the sharp cut in investments, the company projected that its oil and gas production would grow 3 percent next year because of recent start-ups of major projects in Canada, Europe and Asia, as well as increasingly productive wells being drilled in the Eagle Ford and Bakken shale fields of Texas and North Dakota.

http://www.nytimes.com/2014/12/09/bu...retrench-.html

US personal finance

Six reasons why the crash in oil prices is nothing to worry about
Oil prices are falling! Oil prices are falling! But don’t run into that bunker just yet, writes Suzanne McGee

Oil prices are plummeting. The US price for a barrel of crude has fallen to less than $78 a barrel, the lowest level in years. That comes hard on the heels of a summer-long 25% dip in prices that pushed gas at the pump below $3 a gallon – the lowest level since 2010.

It’s not a real crash: the world doesn’t really need more oil. Much of the drop is Saudi Arabia’s latest pricing shenanigans in negotiating with Opec.

A crash in oil prices looks dire. But this may make less difference than you might imagine to your day-to-day finances.

There is one exception: gasoline. Refined from crude oil, the price of gas tends to move in sync with oil. There are regional variables – is there enough refining capacity? What are the local fuel emission regulations? – that can alter those dynamics, and there’s usually a lag before crude oil price declines start showing up at the pump.

Cheaper gas could relieve some of the pressure on our beleaguered household incomes, just in time for the holiday season. And anything that spells relief on the cost front for the 95% of us who have struggled throughout the “recovery” would be welcome news, indeed. The retailers wouldn’t mind a bit, either, given their problems making money from the cash-strapped middle class.

There’s even an argument that lower gas prices at the pump could act as a kind of mini-economic stimulus.

The theory may be sound, but I’m wary of glib suggestions that cheap oil is a panacea. Betting one’s future financial wellbeing, or that of an economy, on a volatile commodity price, seems like a less-than-compelling idea. Especially since, right off the top of my head, I can see several ways in which cheap oil isn’t going to give your personal bottom line a boost.

http://www.theguardian.com/money/201...-nothing-worry

Ok, ok, you're right, it was a pathetic attempt at information. I didn't see your post and I was curious to see if what I understood was correct, so I did a quick and dirty google search. I didn't notice the date of the article and it was quick and easy to read, so that is why I posted it.

I will take a more thoroughly educated approach to the thread. :)

It is interesting to see two Texans on the thread with one having the personal experience of knowing folks who are working MORE, with the other knowing folks who are working LESS.