Gas prices drift lower as fears of dwindling demand increase

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Thursday, November 20, 2008 2:51:06 AM

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GasBuddy News Article

Gas prices drift lower as fears of dwindling demand increase Tuesday, September 30, 2008
The Canadian Press -- Gasoline prices have begun to come down across Canada as oil prices drop on fears of dwindling demand as economies worsen. A litre of regular in Toronto, Canada's most populous city, has fallen to lows of around $1.09 per litre from as much as $1.21 on Monday, according to GasBuddy.com. Elsewhere, a litre of gas in Calgary was down to as low as $1.14, from highs Monday around $1.23 and in Nova Scotia dropped to from as high as $1.31 to as low as $1.23. And in the Vancouver area, a litre was down as much as seven cents from its highest price on Monday to as low as $1.23.
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	Tuesday, September 30, 2008 The Canadian Press -- Gasoline prices have begun to come down across Canada as oil prices drop on fears of dwindling demand as economies worsen. A litre of regular in Toronto, Canada's most populous city, has fallen to lows of around $1.09 per litre from as much as $1.21 on Monday, according to GasBuddy.com. Elsewhere, a litre of gas in Calgary was down to as low as $1.14, from highs Monday around $1.23 and in Nova Scotia dropped to from as high as $1.31 to as low as $1.23. And in the Vancouver area, a litre was down as much as seven cents from its highest price on Monday to as low as $1.23. Visit The Canadian Press for full article

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Don20 Champion Author Oklahoma City Posts:1,520 Points:1,012,795 Joined:Mar 2005	Message Posted: 10/1/2008 11:02:18 AM	Ignore Don20 Report Abuse
	This morning $2.97 gal lowest. Many in the range of $2.97 to $3.19. It needs to go down about another dollar..
Prodaddy Champion Author Houston Posts:1,458 Points:444,120 Joined:May 2007	Message Posted: 10/1/2008 10:43:41 AM	Ignore Prodaddy Report Abuse
	Gas should be about $ 2.65 a gallon with oil at $ 96.00 a barrell
AlaRedNeck Champion Author Kansas Posts:1,167 Points:208,925 Joined:Apr 2008	Message Posted: 10/1/2008 10:43:35 AM	Ignore AlaRedNeck Report Abuse
	been steady here at $3.27 for two weeks now.
PizzaMon All-Star Author Philadelphia Posts:531 Points:371,175 Joined:Jun 2006	Message Posted: 10/1/2008 10:43:29 AM	Ignore PizzaMon Report Abuse
	Good news for Canadians.
hankpeg Sophomore Author Massachusetts Posts:191 Points:77,515 Joined:Aug 2008	Message Posted: 10/1/2008 10:41:19 AM	Ignore hankpeg Report Abuse
	At $1.09 a litre, could someone convert that price to the cost of a gallon. tHANKs
kingdick Champion Author Minnesota Posts:19,390 Points:1,527,895 Joined:Aug 2004	Message Posted: 10/1/2008 10:41:12 AM	Ignore kingdick Report Abuse
	Stop Wasting our Precious Fuel Slow down !!!
wizzard1222 Veteran Author St. Louis Posts:387 Points:703,775 Joined:Mar 2006	Message Posted: 10/1/2008 10:39:29 AM	Ignore wizzard1222 Report Abuse
	2nd time to open the barn door! (Congress)
Zygnatz Champion Author British Columbia Posts:4,976 Points:977,130 Joined:Oct 2005	Message Posted: 10/1/2008 10:39:11 AM	Ignore Zygnatz Report Abuse
	It's still ridiculously high. wake me up when it get to 80 cents per litre.
91Acclaim Veteran Author Maryland Posts:355 Points:73,885 Joined:Aug 2008	Message Posted: 10/1/2008 10:36:26 AM	Ignore 91Acclaim Report Abuse
	Still too high.....
hank1326 All-Star Author Los Angeles Posts:500 Points:125,755 Joined:Jun 2008	Message Posted: 10/1/2008 10:34:42 AM	Ignore hank1326 Report Abuse
	Prices in Southern California is decreasing steadily. Keep on conserving!
spunky4443 Champion Author Washington Posts:1,151 Points:455,880 Joined:May 2005	Message Posted: 10/1/2008 10:29:52 AM	Ignore spunky4443 Report Abuse
	Never go to Canada, so don't really care about their Fuel Prices.
BIGDADDY0034 Veteran Author Georgia Posts:333 Points:63,650 Joined:Sep 2008	Message Posted: 10/1/2008 10:28:55 AM	Ignore BIGDADDY0034 Report Abuse
	SEND SOME GAS TO GEORGIA
jb47 All-Star Author Shreveport Posts:501 Points:287,900 Joined:Aug 2007	Message Posted: 10/1/2008 10:27:56 AM	Ignore jb47 Report Abuse
	Gas around here is running in the $3.40's. That is still about $0.20 higher than before the hurricanes
chas_commuter All-Star Author South Carolina Posts:570 Points:128,015 Joined:Mar 2008	Message Posted: 10/1/2008 10:27:21 AM	Ignore chas_commuter Report Abuse
	I agree with FawltyPawl, this is great news!
FawltyPawl All-Star Author North Carolina Posts:719 Points:114,575 Joined:Jul 2008	Message Posted: 10/1/2008 10:25:38 AM	Ignore FawltyPawl Report Abuse
	And, lower prices are bad, why?
Lizzylou Champion Author Stockton Posts:1,447 Points:883,045 Joined:Oct 2005	Message Posted: 10/1/2008 10:22:32 AM	Ignore Lizzylou Report Abuse
	$3.47 here this AM for cash or ATM and we have a Shell station running a special that if you buy at least 10 gallons and get a car wash the price is $3.14!!
EZExit Veteran Author Phoenix Posts:309 Points:83,100 Joined:Aug 2008	Message Posted: 10/1/2008 10:22:09 AM	Ignore EZExit Report Abuse
	Keep it coming, the prices are still way too overinflated from the speculators actions in the recent past.
SeerLV All-Star Author Las Vegas Posts:532 Points:131,040 Joined:Jun 2008	Message Posted: 10/1/2008 10:21:47 AM	Ignore SeerLV Report Abuse
	We need to reduce demand if we want it lower.
tomok Champion Author Portland Posts:9,610 Points:718,135 Joined:Aug 2006	Message Posted: 10/1/2008 10:20:16 AM	Ignore tomok Report Abuse
	more drifting needed, fuel prices are still too high....
Matts_Pap Champion Author Pennsylvania Posts:1,272 Points:196,015 Joined:Feb 2008	Message Posted: 10/1/2008 10:19:52 AM	Ignore Matts_Pap Report Abuse
	Time will tell.
MajorSteve Veteran Author Oklahoma City Posts:495 Points:236,620 Joined:Sep 2006	Message Posted: 10/1/2008 10:17:56 AM	Ignore MajorSteve Report Abuse
	Dropped to 3.05 per US gallon here today.
Egor Champion Author Regina Posts:1,332 Points:572,245 Joined:Aug 2005	Message Posted: 10/1/2008 10:17:55 AM	Ignore Egor Report Abuse
	Well, I hope they are afraid. For the longest time, all their activities have been focused on driving prices and profits up. They would spout of excuses of supply and demand. Yet demand has been steadily been dropping. So they have added more and more excuses, still trying to push the profit envelop. Now demand is even lower. They have run out of excuses for the price being driven up and the people aren't buying it (or the gas either). They are going to have to get gas prices back to where they should be (and maybe even lower) if they want people to drive again. They are just going to have to move back to small margins and hope for increased demands to fuel their profits. But because of all that they have done, their margins will have to be thinner if they want the demand to raise high enough. They made their bed, now they have to lie in it!!!
chemist74 Champion Author Cleveland Posts:6,491 Points:1,043,695 Joined:Apr 2005	Message Posted: 10/1/2008 10:13:31 AM	Ignore chemist74 Report Abuse
	If it was just U.S. & Canadian demand dropping, crude prices would not drop very much. As the U.S, drifts from recession to depression, the global economy is being impacted. This has a much stronger downward pressure on crude and thus gasoline prices.
rogerparry Champion Author Florida Posts:1,334 Points:290,045 Joined:Jan 2008	Message Posted: 10/1/2008 10:11:04 AM	Ignore rogerparry Report Abuse
	Prices haven't dropped here.
amacquarrie Veteran Author Nevada Posts:328 Points:76,260 Joined:Jun 2008	Message Posted: 10/1/2008 10:10:36 AM	Ignore amacquarrie Report Abuse
	keep prices going down
domer2 All-Star Author Gary Posts:867 Points:378,025 Joined:May 2007	Message Posted: 10/1/2008 10:10:18 AM	Ignore domer2 Report Abuse
	keep drifting lower and lower
emosley007 All-Star Author Raleigh Posts:636 Points:57,450 Joined:Jun 2008	Message Posted: 10/1/2008 10:09:46 AM	Ignore emosley007 Report Abuse
	can we just get some gas.
Mazdaman7Q Champion Author South Carolina Posts:3,731 Points:788,560 Joined:Jun 2006	Message Posted: 10/1/2008 10:07:18 AM	Ignore Mazdaman7Q Report Abuse
	not here
radrunner All-Star Author Toronto Posts:693 Points:1,048,110 Joined:Apr 2004	Message Posted: 10/1/2008 10:06:39 AM	Ignore radrunner Report Abuse
	Down?! Up 5 cents a liter today
laddyboy62 Champion Author Riverside Posts:1,576 Points:993,360 Joined:Mar 2005	Message Posted: 10/1/2008 10:06:19 AM	Ignore laddyboy62 Report Abuse
	still 70 cents higher then last year here in the u.s.
pgerassi Champion Author Milwaukee Posts:2,568 Points:541,795 Joined:Apr 2007	Message Posted: 10/1/2008 10:05:34 AM	Ignore pgerassi Report Abuse
	keep dropping
ladyjj Champion Author Tennessee Posts:1,445 Points:160,320 Joined:Apr 2008	Message Posted: 10/1/2008 10:05:04 AM	Ignore ladyjj Report Abuse
	Not dropping much here as well be demand has caused this I am afraid!
bdrviper All-Star Author Grand Rapids Posts:990 Points:711,435 Joined:May 2006	Message Posted: 10/1/2008 10:04:22 AM	Ignore bdrviper Report Abuse
	and it can keep on going down
sexymacho Rookie Author Florida Posts:78 Points:90,035 Joined:Oct 2006	Message Posted: 10/1/2008 10:03:23 AM	Ignore sexymacho Report Abuse
	The Canadian market at work.
TTI2000 Sophomore Author Colorado Springs Posts:125 Points:174,250 Joined:Aug 2004	Message Posted: 10/1/2008 10:01:29 AM	Ignore TTI2000 Report Abuse
	No drop seen in Colorado Springs yet.
plumb37 Champion Author Quebec Posts:2,345 Points:96,890 Joined:Jun 2008	Message Posted: 10/1/2008 10:00:47 AM	Ignore plumb37 Report Abuse
	Phoenix is doing something right.
jetsfan6 Champion Author New Jersey Posts:3,287 Points:631,355 Joined:Apr 2004	Message Posted: 10/1/2008 10:00:26 AM	Ignore jetsfan6 Report Abuse
	There are a couple of stations here in NJ (not anywhere near me unfortunately) that are below $3 per gallon. I paid $3.27 this morning because I didn't have the patience to wait for 4 DHL trucks to fill up last night at the station I was at that had $3.23 a gallon gas.
bug27 Champion Author Kentucky Posts:1,959 Points:1,172,450 Joined:Apr 2005	Message Posted: 10/1/2008 9:59:57 AM	Ignore bug27 Report Abuse
	Good news.
JuneP Sophomore Author Phoenix Posts:102 Points:79,070 Joined:May 2008	Message Posted: 10/1/2008 9:59:06 AM	Ignore JuneP Report Abuse
	Arizona has seen dropping prices for at least a few months now (thankfully). It's under $3.20 in parts of Phoenix area - YAY!
krucker All-Star Author Austin Posts:559 Points:421,030 Joined:Aug 2004	Message Posted: 10/1/2008 9:58:56 AM	Ignore krucker Report Abuse
	THough prices go up when supplies drop?
gasuper Veteran Author Calgary Posts:358 Points:85,215 Joined:Jul 2008	Message Posted: 10/1/2008 9:58:52 AM	Ignore gasuper Report Abuse
	80 cents per litre would be nice, bring it on
recjr Veteran Author Illinois Posts:493 Points:84,270 Joined:Jun 2008	Message Posted: 10/1/2008 9:58:14 AM	Ignore recjr Report Abuse
	we've been hanging around 3.86, or more, forever!
plumb37 Champion Author Quebec Posts:2,345 Points:96,890 Joined:Jun 2008	Message Posted: 10/1/2008 9:58:03 AM	Ignore plumb37 Report Abuse
	Make that $1.10 a liter. When was that article written? [Edited by: plumb37 at 10/1/2008 9:59:20 AM EST]
LeslieSC Rookie Author South Carolina Posts:16 Points:48,115 Joined:Jun 2008	Message Posted: 10/1/2008 9:57:07 AM	Ignore LeslieSC Report Abuse
	We are at $3.62 in South Carolina
AC-302 Champion Author Los Angeles Posts:8,355 Points:1,315,405 Joined:Aug 2004	Message Posted: 10/1/2008 9:55:01 AM	Ignore AC-302 Report Abuse
	Shoot! We're luck to find gas for $3.50/gallon here in ??LaLa?? land. Oh, and for comparison, CND $1.23/L = ~USD $4.38/gal.
GasholeMI Champion Author Lansing Posts:1,474 Points:113,540 Joined:Jul 2008	Message Posted: 10/1/2008 9:53:00 AM	Ignore GasholeMI Report Abuse
	Expdn2000, we just got to $2.45 yesterday while most stations are still higher than that.
bluebird1 Champion Author Toronto Posts:7,347 Points:1,497,650 Joined:May 2004	Message Posted: 10/1/2008 9:51:03 AM	Ignore bluebird1 Report Abuse
	What's not to make sense here ??? ... if demand is falling & oil prices falling then gas should fall!!! However, that's not what has happened in the past. Being Cdn, I can state this was short lived as our gas prices here today (the next day after this article) shot up just under 4 cents/L (that almost $.18 /gal. Cdn). We may have netted almost 1/2 cent/L over prices from mid-week.
bowler48226 Champion Author Detroit Posts:1,170 Points:317,090 Joined:Sep 2007	Message Posted: 10/1/2008 9:50:03 AM	Ignore bowler48226 Report Abuse
	Sounds like a good thing.
amanco Rookie Author Ohio Posts:39 Points:267,105 Joined:May 2006	Message Posted: 10/1/2008 9:47:15 AM	Ignore amanco Report Abuse
	Dwindling demand + impending financial depression = Lower prices. Simple as that. Oil tycoons and future traders have been chewing on the hand that feeds them way too long.
cableman31 All-Star Author New York Posts:764 Points:428,820 Joined:May 2004	Message Posted: 10/1/2008 9:47:03 AM	Ignore cableman31 Report Abuse
	It doesn't make sense to me.