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Home Front Economy
Gasoline prices tumble again
2006-10-24
(CNN Spit) -- Gas prices continued their downward spiral across the nation, falling by an average of nearly 8 cents a gallon over the past two weeks, the publisher of the national Lundberg Survey said Sunday. The average price of self-serve regular gasoline is $2.20, according to the survey taken of more than 7,000 U.S. filling stations between Oct. 6-20, Trilby Lundberg told CNN.

Prices at the pump have dropped more than $.82 since Aug. 11, she said. The price drop "is due to another sizable dip" in the price of crude oil, Lundberg said, which fell despite a decision made Friday by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by 1.2 million barrels a day. "The market is doubtful that (OPEC) will cut that much and that's why on the actual day of the decision, crude price fell again this past Friday by $1.68," Lundberg explained.

Gasoline prices have been closely watched, and they will get even more scrutiny this week as the no. 1 U.S. oil company Exxon Mobil is expected to report earnings Thursday. Shares of exxon edged lower Friday after OPEC's announcement. Stocks of other oil majors BP,ConocoPhillips, Chevron and Royal Dutch Shell also edged lower Friday.

For the latest survey period, Tulsa, Okla., had the lowest average price for a gallon of gasoline at $1.98. The most expensive gas was in Honolulu at $2.84 a gallon.
Posted by:Steve White

#13  H.E.B.? I lived in Useless, once upon a time, lol. I have to wonder how many here know what that stood for or where it is, lol.

Funny that, I'm living just across the highway from Euless. In that narrow finger of Fort Worth. I posted the H.E.B. just to see if it caught anyones attention.

It's not a bad place, but it sure has grown up over the years, the whole place is nothing like it was when I was a lad.

Posted by: NoBeards   2006-10-24 22:55  

#12  #6 - I really doubt the fall in oil prices had anything to do with the announcement about the new Gulf reserves. It wasn't until I returned from my 9-week, 7,000 miles, $1,200 in gasoline gigantic road trip this summer that the price finally fell. It was all about me.
Posted by: Slaviger Angomong7708   2006-10-24 21:09  

#11  Lowest I ever saw was 19.9, lol, back in TX when I was a wee lad collecting empty coke bottles along the highway.
Posted by: .com   2006-10-24 15:39  

#10  .com, I remember gasoline when it was less than 25 cents/gallon. It fluctuates more than that in one day now. I am feeling "old as dirt."
Posted by: JohnQC   2006-10-24 14:36  

#9  I suddenly feel so old, lol. Who else remembers when it was merely The Lundberg Letter, a 4-page mimeograph subscribed to only by those in the awl bidness who contributed their data, and any mention in the MSM would've caused him heart palpitations? Lol. Trilby, heh. Dunno if I ever "knew" that bit - can't recall. Learn something new every day. :-)
Posted by: .com   2006-10-24 14:00  

#8  It's nice to have people call you "Sir" without saying "You're making a scene" for a change.

LOL

We would never hear it from the media - but I can't help noticing that the prices of oil started to fall immediately after they announced that found that huge oil reserve off the gulf.

Where I live the press is "questioning" the "coincidence" of the oil prices falling ahead of the election.

Sigh.
Posted by: lotp   2006-10-24 13:53  

#7  A OK that!
Posted by: JohnQC   2006-10-24 13:48  

#6  We would never hear it from the media - but I can't help noticing that the prices of oil started to fall immediately after they announced that found that huge oil reserve off the gulf.
Posted by: anon   2006-10-24 10:38  

#5  Still $2.20+ in Sin City.

H.E.B.? I lived in Useless, once upon a time, lol. I have to wonder how many here know what that stood for or where it is, lol.
Posted by: .com   2006-10-24 09:17  

#4  
$1.85/gal H.E.B., TX.
Posted by: NoBeards   2006-10-24 09:14  

#3  Did a 1600 mile quick trip to Parris Island and back this weekend - IIRC - SC $2.09; NC $2.19; Virginia $2.04; WV $2.24; OH $2.04. I imagine differing state taxes account for some of the difference.

The sand fleas were free though ;) Little bastards.

It's nice to have people call you "Sir" without saying "You're making a scene" for a change.

Semper Fi Jordan!

Posted by: GORT   2006-10-24 09:07  

#2  Not even a local average, but 25 miles south of DC, a common price is $1.979, with the high being $1.999 and the low $1.959.

I think Prince William County is outside the EPA zone that requires reformulated gas - maybe that's why it's consistently cheaper than Fairfax County, adjacent to DC.
Posted by: Bobby   2006-10-24 07:01  

#1  Average prices are kind of deceiving. Parts of the country seem to be always high, other parts lower. Ohio and Missouri are consistently cheaper than Illinois and Indiana. Along the corridor running from Cleveland OH to Albuquerque NM, which I drive once or twice a year, Tulsa is usually the cheapest to fill up. Here in NE OH I just bought gas at Murphy USA (affiliated with Walmart) for $1.899/gal with a Walmart cash card, and noticed a Speedway station down the block selling gas for $1.889/gal to all. It's lower here than in more than a year. Diesel is still a lot more than gas & has been for about a year. These prices are down $1.10/gal since Aug. 8.
Posted by: Snuns Thromp1484   2006-10-24 00:19  

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