Average U.S. Gas Prices Drop 25 Cents

**Donger** · 10-24-2005, 08:35 AM

http://news.yahoo.com/s/ap/20051024/...tkBHNlYwM3MTg-

CAMARILLO, Calif. - Retail gas prices across the nation fell an average of 25 cents in the past two weeks as refineries in the Gulf Coast steadily resumed production, according to a survey released Sunday.

Still, prices remained slightly higher than pre-Hurricane Katrina levels.

The weighted average price for all three grades declined to $2.69 a gallon on Oct. 21, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country.

Self-serve regular averaged $2.66 a gallon nationwide. The price for midgrade was $2.76, while premium-grade hit $2.86.

The average pump price for all three grades is still 3 cents per gallon higher than before Hurricane Katrina barreled into the Gulf Coast, Lundberg said.

Several factors contributed to the recent decline, including a seasonal decrease in demand and the resumption of production at many refineries knocked off-line by hurricanes Katrina and Rita.

"The supply and demand were grossly out of balance and remain somewhat out of balance in the gas market," Lundberg said. "But that balance is normalizing as refining capacity is brought back up."

Lundberg said she expected the cost-cutting to continue in the coming weeks unless an extreme winter drives up heating oil demand and affects the price of crude oil and its derivatives.

The lowest average price in the nation for regular unleaded among the stations surveyed was $2.20 a gallon in Tulsa, Okla. The highest price was $3.01 in Honolulu.

**Donger** · 10-24-2005, 08:35 AM

Let's keep demand low, folks.

10-24-2005, 08:37 AM

I've seen it well under $2.20 in KC.

I need to know when Deisel will follow.

**Lzen** · 10-24-2005, 08:38 AM

Yeah, I noticed that they have gone down a lot since August. I still want to see gas get back under $2 a gallon, though. It was nice for a change to fill up my truck this weekend for $2.13 a gallon.

**Lzen** · 10-24-2005, 08:39 AM

Quote:

Originally Posted by Phobia

I've seen it well under $2.20 in KC.

I need to know when Deisel will follow.

Oh yeah, that's gotta suck for you. Diesel is still around $3-$3.50 a gallon here.

**Saulbadguy** · 10-24-2005, 08:45 AM

Noone really believed me when I said Gas would be under $2.00 within a year.

**Saulbadguy** · 10-24-2005, 08:45 AM

Quote:

Originally Posted by Lzen

Yeah, I noticed that they have gone down a lot since August. I still want to see gas get back under $2 a gallon, though. It was nice for a change to fill up my truck this weekend for $2.13 a gallon.

Keep your eye on the station at 6th & Clay. They were at $2.09 recently.

**Donger** · 10-24-2005, 08:47 AM

Quote:

Originally Posted by Phobia

I've seen it well under $2.20 in KC.

I need to know when Deisel will follow.

I wouldn't expect it to drop as gasoline has. Not the right time of year, I'm afraid.

Kyle401 · 10-24-2005, 08:48 AM

Diesel is closely related to #2 heating oil which is in high demand right now. Diesel prices will probably remain fairly high through the winter.

*edit* Demand for Diesel usually drops some around mid-November as most farmers and heavy construction (earthmovers etc.) crews are not working during that time. The price may fall a little then.

**Donger** · 10-24-2005, 08:49 AM

Quote:

Originally Posted by Saulbadguy

Noone really believed me when I said Gas would be under $2.00 within a year.

It's possible, but I think unlikely. I think it will bottom out right around $2.20, national retail average.

**Iowanian** · 10-24-2005, 09:03 AM

Call me when it gets down where it really needs to be....$1.40-$1.50.

Personally...I'd like to see pillaging and refinery construction until its 1.25......only long enough to develop the renewable fuels far enough to tell the Oil producing nations to Eff off.......and use US/Tejas/friendly oil for our petroleum based manufactured products.

ROYC75 · 10-24-2005, 09:17 AM

CAN SOMEBODY GIVE ME A GOOD REASON WHY DIESEL HAS NOT DROPPED ?

OK, I had my little fit for the day, but diesel price's has major implications on my business .

Frosty · 10-24-2005, 09:26 AM

Quote:

Originally Posted by Lzen

It was nice for a change to fill up my truck this weekend for $2.13 a gallon.

Geez, I was excited when it fell to $2.79 over the weekend. Now I'm pissed.

**Donger** · 10-24-2005, 09:27 AM

Quote:

Originally Posted by ROYC75

CAN SOMEBODY GIVE ME A GOOD REASON WHY DIESEL HAS NOT DROPPED ?

OK, I had my little fit for the day, but diesel price's has major implications on my business .

The simple answer? Because demand for diesel is at its annual peak right now.

htismaqe · 10-24-2005, 09:32 AM

I got some this morning for $2.17 along my usual route.

I'm guessing that our local Wal-Mart is under $2.10 right now.

10-24-2005, 08:35 AM
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $10339900 VARSITY	Average U.S. Gas Prices Drop 25 Cents http://news.yahoo.com/s/ap/20051024/...tkBHNlYwM3MTg- CAMARILLO, Calif. - Retail gas prices across the nation fell an average of 25 cents in the past two weeks as refineries in the Gulf Coast steadily resumed production, according to a survey released Sunday. Still, prices remained slightly higher than pre-Hurricane Katrina levels. The weighted average price for all three grades declined to $2.69 a gallon on Oct. 21, said Trilby Lundberg, who publishes the semimonthly Lundberg Survey of 7,000 gas stations around the country. Self-serve regular averaged $2.66 a gallon nationwide. The price for midgrade was $2.76, while premium-grade hit $2.86. The average pump price for all three grades is still 3 cents per gallon higher than before Hurricane Katrina barreled into the Gulf Coast, Lundberg said. Several factors contributed to the recent decline, including a seasonal decrease in demand and the resumption of production at many refineries knocked off-line by hurricanes Katrina and Rita. "The supply and demand were grossly out of balance and remain somewhat out of balance in the gas market," Lundberg said. "But that balance is normalizing as refining capacity is brought back up." Lundberg said she expected the cost-cutting to continue in the coming weeks unless an extreme winter drives up heating oil demand and affects the price of crude oil and its derivatives. The lowest average price in the nation for regular unleaded among the stations surveyed was $2.20 a gallon in Tulsa, Okla. The highest price was $3.01 in Honolulu.
Posts: 180,706

10-24-2005, 08:35 AM	#2
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $10339900 VARSITY	Let's keep demand low, folks. __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 180,706

10-24-2005, 08:37 AM	#3
Phobia Guest Casino cash: $	I've seen it well under $2.20 in KC. I need to know when Deisel will follow.
Posts: n/a

10-24-2005, 08:38 AM	#4
Lzen Supporter Join Date: Feb 2001 Location: Jan Quadrant Vincent 16 Casino cash: $2220692	Yeah, I noticed that they have gone down a lot since August. I still want to see gas get back under $2 a gallon, though. It was nice for a change to fill up my truck this weekend for $2.13 a gallon. __________________ If at first you don't succeed ...skydiving is not for you.
Posts: 41,348

10-24-2005, 08:45 AM	#6
Saulbadguy When a nightmare becomes real Join Date: Nov 2003 Casino cash: $2626966	Noone really believed me when I said Gas would be under $2.00 within a year. __________________ http://www.goemaw.com
Posts: 46,965

10-24-2005, 08:48 AM	#9
Kyle401 1st Round Bust Join Date: Feb 2005 Casino cash: $10004900	Diesel is closely related to #2 heating oil which is in high demand right now. Diesel prices will probably remain fairly high through the winter. edit Demand for Diesel usually drops some around mid-November as most farmers and heavy construction (earthmovers etc.) crews are not working during that time. The price may fall a little then. __________________ Adopt a Chief: Eric "Bench Warmer" Hicks - AKA Hali's Towel Boy Last edited by Kyle401; 10-24-2005 at 08:55 AM..
Posts: 788

10-24-2005, 09:03 AM	#11
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $4758454	Call me when it gets down where it really needs to be....$1.40-$1.50. Personally...I'd like to see pillaging and refinery construction until its 1.25......only long enough to develop the renewable fuels far enough to tell the Oil producing nations to Eff off.......and use US/Tejas/friendly oil for our petroleum based manufactured products.
Posts: 61,531

10-24-2005, 09:17 AM	#12
ROYC75 Time For Your Wake Up Call !!! Join Date: Oct 2000 Location: Barn Yard Casino cash: $5669400	CAN SOMEBODY GIVE ME A GOOD REASON WHY DIESEL HAS NOT DROPPED ? OK, I had my little fit for the day, but diesel price's has major implications on my business . __________________ Our society is run by insane people for insane objectives. I think we're being run by maniacs for maniacal ends and I think I'm liable to be put away as insane for expressing that. That's what's insane about it. John Lennon
Posts: 36,985

10-24-2005, 09:32 AM	#15
htismaqe 'Tis my eye! Join Date: Aug 2000 Location: Chiefsplanet Casino cash: $10269900	I got some this morning for $2.17 along my usual route. I'm guessing that our local Wal-Mart is under $2.10 right now.
Posts: 100,022