Oil down to less than 82 today…Gas futures for November dip below 2.18
This could get interesting! 
I work in the refining industry. Don’t let this dip go to your head. Enjoy it, but it is only a reflection of how bad the Economy is. Sales are down nearly 20% therefore production has had to slow down, bringing down the price, for now.
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Yes but it is a lot more than just the American economy that affects the price of crude oil, no? China’s economic growth has been slowing, as has Europes…and Russia and the US are producing fuel/oil/gas as much as ever. Meanwhile, the Middle East is fighting to hold onto market share and even they are producing natural gas like crazy (Isreali discovery just two years ago is huge).
I think that by and large, the world’s oil “demand” and fears out of the Middle East have been largely emotionally inflated for way too long, while the glut of production has been rolling right along. There isn’t a lot of evidence that the Middle East wants to cut production…they need their income. As does Russia. As does these new producers that have invested heavily in the US in new drilling and fracking.
All the while the world has gotten more and more “efficient” with the latest cars produced and green energy production keeps growing. Along with Natural Gas using plants and industry and vehicles. I can easily foresee a leveling off of oil prices for quite a while, but then again, I understand what you mean about just enjoying it while it lasts. 
I spotted regular for $2.84 tonight at a discount generic station here in New Orleans!!
Gas got down to $2.55 here in MI this weekend. Yet, diesel is at $3.87 explain that…
Why is your gas a dollar cheaper than my gas?
“cheap” gas here in Portland, OR is still about $3, with the “not cheap” gas up around $3.75
I read an article about it recently off msn home page and it stated Saudi is lowering prices to deter US/others from drilling.
Yeah the average cost of Middle Eastern oil is only about 20.00/barrel. They seem to be “testing” the US to see if they can keep market share and force US shale producers (which have reputed costs of 60-70/bbl) to cut back on their drilling. As I read somewhere, this is a turf war.
The best news out of all this, other than cheaper gas, is that Putin is gettin’ pinched HARD 
A lot of it is the taxes in the West in general. We have higher road and fuel taxes. And more cost to get gas from refineries to market. Ironically, that goes down as the price of fuel goes down…eventually!
We are back up to $3.19 a gallon. A .65 cent price swing all at once lol. I remember when gas would only change less then .5 cents a gallon and every two weeks at the most and that was a lot. These huge price swings seems to be a norm now.
Winter causes lower demand for gasoline and higher demand for heating oil. Heating oil and diesel are made from the same stocks, so the demand for either affects price of both.
California Talking about raising the gas Tax ! Democrat A- Holes !
I just filled up this morning and it was $2.79 a gallon. 
That’s because obviously everyone can afford more expensive gas. Now that it is cheaper the government is missing out on an opportunity to make money. So they need to raise taxes to keep people comfortable with paying more for gas. 
$2.79 here for regular unleaded.
I wouldn’t mind a bit more spending on road maintenance - Minnesota seasons are tough on the pavement. The pothole slalom course gets a bit tedious. Any suggestion of raising taxes, though, - especially this time of year with elections - is too much of a third rail. Guess we need to find that mystical money tree instead (or let the infrastructure continue to crumble).
Like everyone here I’m glad to see the lower prices. I just don’t understand how on one side of the city a gallon of regular is $2.79 and a couple of miles the opposite direction it’s $2.94. What gives?
Steven
That’s usually a function of when stations get their deliveries, IIRC. Prices reflect the cost of what’s in the tanks, so some stations will have taken delivery earlier during the price fall and will have to charge the higher price until they get the next, less expensive delivery. Maybe someone in the gasoline distribution system will have a more expert answer; that’s just my understanding.
That makes sense Bill. I never thought about it in those terms.
Steven
The Commies in Sacramento are trying to raise our gas tax here in Ca. Could be as much as 17 cents a gallon. So we here won’t be enjoying low prices for long if the commies get their way !
I know it’s not popular to say this, but gas taxes around most of the country need to increase. Our infrastructure is falling apart and the gas tax, as the funding mechanism for fixing that, hasn’t kept pace with both the need for and cost of maintenance. But part of the problem in some states is Legislatures that raid their highway funds for other programs (it’s happened here in MA with MA Pike tolls being used to fund other, non-Turnpike highway programs and I assume that sort of thing has happened in other states as well) instead of using them as intended, but that’s a whole other argument.