The Elephant In The Room: Gas Prices in the US

Dayton, Ohio
November 18, 2015 12:16am CST
Gas prices have plummeted. The cheapest I have seen was $1.73 USD. I have not seen prices like this in years and years. If you use a gas loyalty card, then it is even cheaper. we are told to expect these lower rates until Christmas. Most publications are citing a stronger ecomomy, although I am guessing there is more to it than that. No matter the reason, holiday travels just got a heck of a lot cheaper. Will the change in gas prices allow you to travel more? What are other factors keeping prices low? Did someone grow a heat, and decide to cut us a break?
18 people like this
18 responses
@WorDazza (8684)
• Manchester, England
18 Nov 15
Oil production in the USA has almost doubled in the last five years or so meaning that the USA doesn't need to import so much oil from places like Saudi Arabia and Nigeria. This oil needs to find somewhere to go so there is now major competition to sell this into the Asian markets hence the drop in prices. All it will take is for one of the major producers to cut production for a while and we'll see prices creep up again although I suspect it will be a long time before prices reach the $100 per barrel mark they were a few years ago. Until then, enjoy it!!
4 people like this
• Dayton, Ohio
18 Nov 15
Ah, that makes sense. I'm not sure I understand why Asian markets play a role. But basically the US has its own gas, the price per barrel has dropped. So this is just temporary relief, well planned during the holidays.
4 people like this
@WorDazza (8684)
• Manchester, England
19 Nov 15
@BethieAnnie You can't really complain about prices in the USA. A gallon of unleaded in the UK is currently nearly £5 sterling. About 12 months ago it was about £6.50.
2 people like this
• Dayton, Ohio
19 Nov 15
@WorDazza that is what I was telling Anna. We, Americans are rather spoiled. It's the mechanics about it that interest me. I have a feeling supply and demand is just one angle in this picture.
3 people like this
@koopharper (6355)
• Canada
19 Nov 15
I wish ours were that low. In Canada there is some effort to keep the prices up to keep people in Alberta working. I still find it painfully high.
3 people like this
• Dayton, Ohio
19 Nov 15
How does keeping gas prices up help people keep working?
2 people like this
@WorDazza (8684)
• Manchester, England
19 Nov 15
@BethieAnnie The oil industry in the UK has been devastated by low prices. Oil companies laying people off due to plummeting revenues. And it doesn't end there. For every job that goes in the oil industry there are probably a few in supporting industries that follow suit. Imagine a city that has been built on oil revenues and suddenly 20 to 30% of the oil jobs go. There's generally less money around so shops and other service industries take a massive hit too.
1 person likes this
• Dayton, Ohio
19 Nov 15
@WorDazza weird we are looking at it from the other angle. "Low Gas Prices stimulate economy" with the idea being money your saving goes to other industry. However, now I am seeing the picture. If there are less jobsz there is less money in the first place. We were an automotive manufacturing town and when 40% of our jobs went to Mexico when the factory moved it had disastrous results on our town. Any place that losses that many jobs suffers greatly. I will now think twice before I complain, when prices go back up.
2 people like this
@LadyDuck (125951)
• Switzerland
18 Nov 15
I believe that this is happening in the hope that people will travel more for the holidays. This of course will boost the economy, the hotels and restaurants can be happy.
3 people like this
• Dayton, Ohio
19 Nov 15
I am not surprised to see this right now, more shocked. I am betting that this will lift spirits because more people will get to be with family over the holidays. Has there been a change in fuel prices in Switzerland?
4 people like this
@LadyDuck (125951)
• Switzerland
19 Nov 15
@BethieAnnie No, not a big change only a few cents. Fuel is much more expensive in Europe, we pay a little less than 5 dollar per gallon and Switzerland is not the more expensive, in Italy it's around 5.25$.
3 people like this
• Dayton, Ohio
19 Nov 15
@LadyDuck that is interesting. We Americans complain about our gas prices, but Europe pays far more.
3 people like this
@sishy7 (27749)
• Australia
18 Nov 15
Was it only 2 years ago when it's like double the current price?
3 people like this
• Dayton, Ohio
19 Nov 15
Sounds about right to me. It was to a point where traveling to visit relatives in other states difficult. Will this influence your holiday travel decisions?
2 people like this
@sishy7 (27749)
• Australia
19 Nov 15
@BethieAnnie Probably not... This year we're thinking of just staying home for the holidays.
1 person likes this
• Dayton, Ohio
19 Nov 15
@sishy7 I am highly considering that. The economy finally hit my family, who is not used to worrying about finances. I have adjusted, my sons illness forced me to as it takes a large financial commitment!emt. My family, well many of them are full of drama because having to downsize, or do without is so foreign to them. It isn't the gas prices that will dictate my travel, its weather or not I think my family can remain peaceful or not? I do not want to go to any event where someone might fight with someone else.
1 person likes this
@T_gray (7892)
• Salina, Kansas
19 Nov 15
I travel a lot anyway so it's really nice for me. But gas here is still around 2 bucks
2 people like this
• Dayton, Ohio
19 Nov 15
From what I read, the prices will drop another 20 cents, at least by Christmas. You may still yet see gas at unde $2 a gallon.
2 people like this
@T_gray (7892)
• Salina, Kansas
19 Nov 15
@BethieAnnie that would be great!
1 person likes this
@norcal (3264)
• Nevada City, California
19 Nov 15
It is $2.45 here, but that is cheap.
1 person likes this
@TRBRocks420 (64239)
• Banks, Oregon
18 Nov 15
I am not positive why, but I am glad to see they are back down to what they were in the 90s about. I think I might have to research this now.
1 person likes this
• Dayton, Ohio
19 Nov 15
Let me know if you uncover anything. I feel like a teenager agan, ins a miracle! What are gas prices in Oregon like right now?
2 people like this
@TRBRocks420 (64239)
• Banks, Oregon
19 Nov 15
@BethieAnnie I can't remember exactly. I want to say 183, but they were around 3 bucks for a long time.
1 person likes this
• Dayton, Ohio
19 Nov 15
@TRBRocks420 we were over 4 dollars a gallon this time last year. It was $4.05 ish last Christmas. I remember telling my mom that I was going to sell my car if gas hit $5 a gallon.
2 people like this
@norcal (3264)
• Nevada City, California
18 Nov 15
I don't know why it is happening, but it is nice for the consumer.
1 person likes this
• Dayton, Ohio
19 Nov 15
It is nice for the consumer, during a time we need a break. Do you think one of the rich guys in charge of gas prices grew a heart?
1 person likes this
@norcal (3264)
• Nevada City, California
19 Nov 15
@BethieAnnie No, that does not seem likely
1 person likes this
• Dayton, Ohio
19 Nov 15
@norcal I suppose you are correct. It is more likely to be a small stimulus to the economy. What will you do with all of the money you save?
• Preston, England
19 Nov 15
Given that we are depleting reserves I always feel we should be putting gas and oil prices up
1 person likes this
• Dayton, Ohio
19 Nov 15
Gas prices haven't come down in decades, that's why some of us feel it is a pshycological move. Others say supply is upmdemand is low, which makes sense, but not really at a global level, well not to me anyway.
2 people like this
• Preston, England
19 Nov 15
@BethieAnnie obviously a boom for individual consumers. It is industrial use that will really drain the reserves though
2 people like this
@cacay1 (32237)
• Cagayan De Oro, Philippines
19 Nov 15
One factor is the terrorism. Syria and other countries in the middle east are the highest suppliers of petroleum ..this time the whole world and its resources are shaky and interrupted by the international terrorists.
1 person likes this
• Dayton, Ohio
19 Nov 15
Supply is up here in the US, maybe because we don't want to buy oil from terrorists. I think there are many ways that terrorism and gas prices are linked.
1 person likes this
@Tampa_girl7 (22177)
• United States
18 Nov 15
It was also $1.73 in Jackson yesterday.
1 person likes this
• Dayton, Ohio
19 Nov 15
Mississippi and Ohio often seem to be quite similar in their gas prices. Is Mississippi more farms or industrial?
1 person likes this
@ison_1 (1255)
19 Nov 15
is that per gallon? I've done a quick conversion and the price I pay in the UK at the moment is $7.37 per gallon!!
• Minneapolis, Minnesota
19 Nov 15
Holy crap!! That is insane. What has been the lowest youve seen in the UK?
1 person likes this
@ison_1 (1255)
19 Nov 15
@Castlerock34 This is the lowest it has been for a while - it was over $10 a gallon just over a year ago
• Minneapolis, Minnesota
19 Nov 15
@ison_1 Are you flippen kidding me?!?! why in the heck is it so much over there???
• Minneapolis, Minnesota
19 Nov 15
This is for sure a nice break for us. I just got gas yesterday for 2.03 USD. When I pulled up to the gas station I thought I had won the lottery, thats how excited I was to see that gas price,isn't that sad? I remember when I first started to drive it was like 1.00 which back then I thought was expensive
• Dayton, Ohio
19 Nov 15
I was at Kroger's, and I realized I had fuel points. For those who don't know Kroger is a grocery stor, and every time you spend $100 you get ten cents off a gallon. I ended up getting gas for $1.34 after the discount!
1 person likes this
• Minneapolis, Minnesota
19 Nov 15
@BethieAnnie Very awesome. If you spend $50 at Cub you can get 10 cents off at Holiday :-)
• Dayton, Ohio
19 Nov 15
@Castlerock34 aww, see now I'm sad lol. Our last cub closed their doors month ago, I didn't even know cubs was still around!
@artemeis (4023)
• China
20 Nov 15
It's a demand and supply issue with the latter increases from namely USA, the prices will take a dip since it will need some time before demand could increase. Also, car manufacturers are going into eco-friendlier machines causing a lesser demand and dependency on petrol. Not forgetting, environmental friendly energy which requires less burning to produce energy. All these adds up to cause what is happening and it will be some time before the oil prices increases again.
• Dayton, Ohio
20 Nov 15
I hope it takes a long while for the prices togo back up. I am enjoying saving money at the pump. Eco friendly cars would decrease demand. I have been trying to understand why demand is so low.
1 person likes this
@artemeis (4023)
• China
20 Nov 15
@BethieAnnie I believe the main reasons would probably be for the need to be being environmentally friendly by reducing pollution.
1 person likes this
• Dayton, Ohio
21 Nov 15
@artemeis humanity does seem to be working on reducing oirmcarbon footprint. It will, and already is, changing the energy sector.
1 person likes this
@Missmwngi (9690)
• Nairobi, Kenya
18 Nov 15
That is cheap compared to what we have here
• Dayton, Ohio
19 Nov 15
It is cheap compared to the usual price? I haven't seen prices like that since I was a teenager, and I'm 35. What are prices like in Kenya?
1 person likes this
• Minneapolis, Minnesota
19 Nov 15
What is it there?
1 person likes this
@Missmwngi (9690)
• Nairobi, Kenya
20 Nov 15
@BethieAnnie and @Castlerock34 the cheapest around here is Ksh 1000 + that that would be $10 or more
@zebra2222 (4889)
• United States
19 Nov 15
Gas prices shall stay low for some time due to abundance of supply over the need demanded by us.
• Dayton, Ohio
19 Nov 15
Supply is up and demand is low, that simplified it for me. Makes sense that the price will drop. I think that I will enjoy it while it lasts. Do you think it will stay low through the new years?
@BelleStarr (33684)
• Portland, Connecticut
19 Nov 15
I would travel no matter the price but it certainly leave more money for other things.
• Dayton, Ohio
19 Nov 15
It will make for a merrier Christmas for us all. I can only hope that the economy boost from this will lastinto 2016.
1 person likes this
@Lucky15 (33666)
• Philippines
19 Nov 15
Ours is not that low..in fact it gets higher and higher. Oil price hike every week. Ugh!
@IreneVincent (15837)
• United States
19 Nov 15
I certainly am happy about the lower gas prices here in the U.S. although I don't drive now as much as I used to when I was working my jewelry business. Sometimes, my car sits in the driveway most of the week. I have an errand day and I attend a couple Christian meetings each week. Otherwise, I don't drive around much anymore.