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Gas drops below $3 per gallon

By Nick Nelson · October 6, 2008 · Comment on this

Gas prices topped $3 per gallon in Lawrence in March, but seven months later they have finally dropped back down.

Comments

notajayhawk 5 years, 6 months ago

Unix_Admin (Anonymous) says: "The price per barrel has declined by 40% since July, yet the price at the pump has only declined (on average nationally) by 15%. What gives?"I wonder if you were equally concerned when the price of oil was doubling and the price of gas went up by about a third.There are a couple of reasons why the pump-price of gas isn't tied so directly to the price of a barrel of oil. One is that there are other products made from that oil - the price of some products with a slightly more 'fixed' demand, like aviation, diesel, and heating fuels, went up considerably more than consumer grade gasoline did when oil was rising. The other major reason is there's a lot of other factors that make up the pump-price besides the oil itself - transportation and refining, to name a couple.

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Unix_Admin 5 years, 6 months ago

The price per barrel has declined by 40% since July, yet the price at the pump has only declined (on average nationally) by 15%. What gives?

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notajayhawk 5 years, 6 months ago

sjschlag (Anonymous) says: "For a small town, I think Lawrence is becoming one of those places."'Those places' are, in general, not small towns."Our traffic problems ..."Um - buses have to move in that traffic, too."... higher gas prices (they are low now, but I guarantee they will rise again, like they do every summer) ..."Once again, see "market forces." It rises and drops and stabilizes at what people are willing to pay for it at a given time."... increasingly limited downtown and KU parking, and environmental concerns will more than likely drive people back to public transportation from private vehicles."'Back?' What do you mean by 'back?' Nobody is riding it now."Gas prices are low now, but with an economic meltdown just around the corner, nobody will be able to afford those "low" gas prices"Which is the major reason it's dropping now, because the people who decide the price of oil are assuming people will have less money and will buy less gas. And again, see "market forces.""... and may just start think about riding a bus or bicycle."To go where?

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bearded_gnome 5 years, 6 months ago

Nota,how dare ye raise the market forces strawman! you know that the far left crazies:A) don't believe in it;B) don't understand it;C) don't trust it;D) were never taught it in their Womyn's studies classes;andE) hate anybody to make a profit!it just has to be a conspiracy!!!!!before the 2004 election, that spring, John Kerry said publicly that GWB had a secret agreement to keep the gas prices high; then in October he said GWB had a secret agreement (with the eeeeeeeeeeevil Saudis!) to get the gas prices lower. funny, he never mentioned the price of Katsup, and none of the dems criticized Kerry for the six houses he and that horrid wife of his own. ***hey TOB,greetings to you too, your humor is always outstanding. I haven't posted so much, been very busy, but glad to see you're holding up your end!and, yes, it is funny how much blame GWB gets! I assume that since you're at fault, you're also wasting gas: by driving at 100mph at every opportunity; leaving your car idling ... while you eat your evening meal; driving your car down the driveway to get mail/paper; and tieing a windsock to your radio antenna and fuzzy dice to the mirror for extra wind resistance. again, glad you're holding up your end!

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sjschlag 5 years, 6 months ago

"Public transportation works in places where it offers advantages over private vehicles. And Lawrence isn't one of those places."For a small town, I think Lawrence is becoming one of those places. Our traffic problems, higher gas prices (they are low now, but I guarantee they will rise again, like they do every summer), increasingly limited downtown and KU parking, and environmental concerns will more than likely drive people back to public transportation from private vehicles. Gas prices are low now, but with an economic meltdown just around the corner, nobody will be able to afford those "low" gas prices, and may just start think about riding a bus or bicycle.

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notajayhawk 5 years, 6 months ago

Andrew Stahmer (Andrew Stahmer) says: "(The anti-t people on here wouldn't change their minds if gas went up to $50/gallon!! They'd be happier paying that than have to lower themselves to being a 'bus rider' : "let the kids starve! who needs electric or gas utilities?! at least I won't have to ride a bus!!")"Perhaps a tad overdramatic, Andy, but you actually did stumble on why public transit just isn't going to be successful around here: Because while there may always be a few people who need it, nobody really wants it (well, maybe there's a few, but not if they have to pay for it themselves).Public transportation works in places where it offers advantages over private vehicles. And Lawrence isn't one of those places.

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Andrew Stahmer 5 years, 6 months ago

gccs14r -- did the price of diesel go down too? (That's what those busses run on.) In a way it could hurt the whole transit cause...people who are undecided see those lower prices are probably less likely to see the need for public transportation and vote NO. (The anti-t people on here wouldn't change their minds if gas went up to $50/gallon!! They'd be happier paying that than have to lower themselves to being a 'bus rider' ... "let the kids starve! who needs electric or gas utilities?! at least I won't have to ride a bus!!")

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notajayhawk 5 years, 6 months ago

$2.77/gal in Independence this afternoon.Yep, just keep telling yourselves that the price of gas isn't controlled by market forces. I mean, who would possibly believe that when demand skyrocketed, the price would balloon, and when people cut back on their driving, the price would fall?Oh, wait...

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The_Original_Bob 5 years, 6 months ago

Snap -In the summer, I tend to drive with the windows down and the AC on high. I take full responsibility.KS -Lawrence may be getting ripped off, but the fuel tax structure is different in MO than KS. Gas has always been cheaper in MO. It used to be a dime on when I lived in KCMO and I will agree a $.40 difference is odd.

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Tom Shewmon 5 years, 6 months ago

This must be from something the Dems did...........or.............if no connection can be made, the MSM will give miniscule coverage. Nothing too big or too small to help elect Obama.

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macon47 5 years, 6 months ago

if it is two bucks a gallon people will still whine it should be a buck fifty

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KS 5 years, 6 months ago

I was in Cassville, MO last Saturday morning and topped off at $2.76. Lawrence is getting ripped off.

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Azure_Attitude 5 years, 6 months ago

Damn! I love being psychic! It's going to keep going down until the election, too. When the first few price reductions hit this summer I saw the signs and said it will be $2.50 by the election. People looked at me like I was smoking hash oil or something. Who's smoking now? Huh!?! Big oil doesn't want to get hit with the windfall profits taxes and regulation that they so desperately deserve.Temco, you are right on the money. Doesn't take a psychic either. These a-holes moves are just transparent.

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The_Original_Bob 5 years, 6 months ago

Come back to me when gas gets under $2. Gnome -Greetings, old friend! Old as in I've known you for awhile, not the high number you write down when your age is requested. I find it amazing that one guy gets blamed for every single thing that has gone wrong. Be it Bush or anyone else of any other party persuasion. Last I checked, there were 635 part time folks constantly running for reelection that have to vote for things for him to sign.

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bearded_gnome 5 years, 6 months ago

that d----d George Bush, must be his fault! I say: Impeach him! [note for the impaired: this is sarcasm, poking fun at the bush derangement syndrome posters]

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kansas778 5 years, 6 months ago

Dang, still $3.26 out here on the coast.

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jumpin_catfish 5 years, 6 months ago

Made chili this weekend, my gas is free.

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TecmoSuperBowlChristianOkoye 5 years, 6 months ago

Anyone remember the same thing happening in the runup to the 2006 election? It's like clockwork...

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macon47 5 years, 6 months ago

price is insignificantwhat ever the price is too much people have whined about the priceof gas for the last 40 yrs25 cents, 50 cents,1 dollar, 2 dollars.gas is too darn high what ever it isi can hardly wait for them to buy thier electric car, plug it in,and get their electric bill withall the road taxes on.that will starch thier shorts

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gccs14r 5 years, 6 months ago

Great! That means that the new T contract shouldn't have a huge fuel surcharge built into it. Unless someone is getting a kickback, that is.

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toe 5 years, 6 months ago

So has most of my stocks.

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