Gas prices still falling

<p>I demand an investigation. Make those oil execs look like criminals.;-) Except maybe that BP guy. He IS a criminal.</p>

<p>Let's wait until after elections shall we? :) </p>

<p>I would be curious to see what prices are by red/blue states. Up here in WA they are still anywhere from 50 to $1 higher than Virginia and we have refineries producing gasoline. In fact the areas closest to the refineries is still around $3 per. Is it Ted Stevens revenge? :) Just curious.</p>

<p>Prices will go up next summer. They always go up in peak demand months and slide back in the fall. That said as many were projecting $4 gas sooner than later, well we are not there yet. Gas has always been high in Washington compare to most other states except Cali. Probably less competition, higher taxes, higher operating costs from the higher minimum wage on up, and strong growth in demand.</p>

<p>Actually, they should go down until after the election. Remember, the price is set based on the sale of the last 1-2% of "buy-sell". It is pretty easy to sell or not to sell that last 1-2% and majorly impact the price. That's how oil traders always make their money, and my pension fund, too.</p>

<p>No conspiracy there. Just business as usual. (and affecting political outcomes IS part of business as usual.)</p>

<p>I was happy to see some prices around here as low as $2.19 this morning. I think the highest I've ever paid was last September when I paid $3.73 per gallon.</p>

<p>Article.</p>

<p><a href="http://www.madison.com/wsj/home/biz/index.php?ntid=99592%5B/url%5D"&gt;http://www.madison.com/wsj/home/biz/index.php?ntid=99592&lt;/a&gt;&lt;/p>

<p>Mini has it. This little downward trend will continue until November, and if the GOP maintains hold of the house, they will rise again.</p>

<p>All a political ploy.</p>

<p>"No conspiracy there. Just business as usual. (and affecting political outcomes IS part of business as usual.)"</p>

<p>That's what I'm wondering. It's not like we've ever had energy manipulated before. I'm still paying some of the highest electricity rates around. </p>

<p>Virginia has pretty low gas prices and a tight election coming up. I'm not calling it conspiracy, I do look at it as business move as well. A business is going to support those politicans who support them.</p>

<p>I'm betting the tinfoil hat crowd will be very disappointed next year when prices stay in the range they are currently approaching. Time will tell. Many hardcore oil analysts were saying this all along--there is enough oil to maintain current prices with a market price in the $50-$60 per B range.</p>

<p>I miss the good ol' days...under a dollar for a gallon. Boy, oh boy, do I miss those days.
...Not that I could drive back then :(</p>

<p>When I started driving gas was around $.30. $5 bought gas for the week. But my job paid $1.10 an hour too.</p>

<p>let seeee, gas costs me about $30 a week and i make $9ish an hour. ok, the trade-off is fine.</p>

<p>My conclusion too.</p>

<p>Most of the difference in price from state to state is the difference in the taxes on a gallon of gas.</p>

<p>State State/Excise Other State/Taxes Total State/Taxes Total Federal &State Taxes </p>

<p>Alabama 16 5 21 39.4
Alaska 8 8 26.4
Arizona 18 1 19 37.4
Arkansas 21.5 0.2 21.7 40.1
California 18 14 32 50.4
Colorado 22 22 40.4
Connecticut 25 4.7 29.7 48.1
Delaware 23 23 41.4
Dist. of Columbia 20 20 38.4
Florida 13.6 16 29.6 48
Georgia 7.5 4.7 12.2 30.6
Hawaii 16 19.1 35.1 53.5
Idaho 25 25 43.4
Illinois 19 11 30 48.4
Indiana 15 3.1 18.1 36.5
Iowa 20.1 1 21.1 39.5
Kansas 23 1 24 42.4
Kentucky 15 6.4 21.4 39.8
Louisiana 20 20 38.4
Maine 22 1.5 23.5 41.9
Maryland 23.5 23.5 41.9
Massachusetts 21 0.5 21.5 39.9
Michigan 19 7.2 26.2 44.6
Minnesota 20 20 38.4
Mississippi 18 0.8 18.8 37.2
Missouri 17 17 35.4
Montana 27 0.8 27.8 46.2
Nebraska 24.5 0.9 25.4 43.8
Nevada 23 10.3 33.3 51.7
New Hampshire 18 2.6 20.6 39
New Jersey 10.5 4 14.5 32.9
New Mexico 17 1 18 36.4
New York 8 22.3 30.3 48.7
North Carolina 22.1 0.3 22.4 40.8
North Dakota 21 21 39.4
Ohio 22 22 40.4
Oklahoma 16 1 17 35.4
Oregon 24 24 42.4
Pennsylvania 12 14.7 26.7 45.1
Rhode Island 27 4 31 49.4
South Carolina 16 0.8 16.8 35.2
South Dakota 22 2 24 42.4
Tennessee 20 1.4 21.4 39.8
Texas 20 20 38.4
Utah 24.5 24.5 42.9
Vermont 19 1 20 38.4
Virginia 17.5 1.4 18.9 37.3
Washington 23 23 41.4
West Virginia 20.5 4.9 25.4 43.8
Wisconsin 28.1 3 31.1 49.5
Wyoming 13 1 14 32.4
U.S. Average 17.9 5.7 23.6 42</p>

<p>I don't believe there is a conspiracy of any sort, and especially not one that plays out along the red/blue line.</p>

<p>Gas in my Massachusetts town is now $2.25 a gallon, the lowest I've seen in quite a while. I'm pretty sure MA qualifies as a Blue State! ;)</p>

<p>I think it's more a question of supply/demand. With oil at $70 a barrel, it became more attractive to uncap wells and/or increase production.</p>

<p>As far as price differences between states, I think that's a function of both taxes and processing requirements. I believe that California, for example, has pretty restrictive processing requirements in order to improve air quality.</p>

<p>"That's what I'm wondering. It's not like we've ever had energy manipulated before. I'm still paying some of the highest electricity rates around."</p>

<p>The current Secretary of the Treasury is the former managing director of Goldman-Sachs, among the world's largest energy futures trading firms. Now, let's be clear GS (like my pension fund) can make money on either the buy or sell side. Sometimes there are short-term political advantages to doing so on one side or another that lead to longer term economic gains.</p>

<p>This is NOT a conspiracy. It's just the nature of markets. Remember that the price of energy is not set by looking at the supply-and-demand as a whole, but at the top 1-2% of supply/demand, which is where the trading is.</p>

<p>What stands out on that list? Alaska at 26.4 total tax on gas. Natl avg: 42...
difference: 15.6 cents per gallon!</p>