Gas goes below $3.00

rmciottijr said:
Troy are you from Lubbock? I see you have FW in your profile I was just checking. I was in Lubbock about 3 weeks ago. found a mexican restaurant it was good.
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A Mexican restaurant in Texas??? Shirley, you jest!

:D

Troy, I hope Austin is right behind ya. It's 1.45 at Murphy's.
 
Hmmm.

For the first time in a long time, gas prices here jumped up 10 cents a gallon this week. They'd been steadily going down, but the station where I saw $1.65 last weekend was up to $1.75 early this week.

Why? Because OPEC said they were going to talk about cutting production. Instant price bump at the pump! OK, more like profiteering. I had a bunch of errands to run, so I kept my eyes open and managed to find a place that was still at $1.63. I filled my tank full for the first time in quite a while - I've been running half tanks because of the prices falling so much.

Hey, I heard the recession's going to end soon, now who wants to offer me a job? :rolleyes:
 
Especially amusing, Kent, inasmuch as the OPEC announcement triggered additional selling in the oil markets, and the price of oil is down yet again. $34-ish/barrel.
 
There was a small upwards burp in the last couple weeks or so in the price of oil per barrel before the OPEC announcement. I've got a friend who works in a state AG office and they have been investigating oil prices, collusion, and price fixing since Katrina...

It is market forces at work. There may be some isolated pockets of profiteering by stations, but they pretty much sell at what they think their next load is going to be, hence the $0.10 and $0.15 jumps here and there. Ours jumped a week or so ago, but have since come back down again.
 
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