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Gasoline prices finally begin to decline in U.S., Canada

GasBuddy Blog -- You've likely heard it for weeks- gasoline prices were likely to start declining. The relief that we've long been expecting and looking forward to is seemingly on its way.

While the U.S. and Canadian national averages didn't shed a substantial amount, the fact we've "turned the corner" bodes well as we expect prices to continue to decline, at least in the near term. The U.S. average shed nearly 5c/gal in the last week, dropping to $3.814 this morning, while the Canadian average fell a larger 3c/L to 131.2c/L.

Six states continue to have average gasoline prices above the psychological $4/gal mark: Hawaii, California, Connecticut, New York, Alaska, and Illinois. The highest prices in the U.S. today can be found in San Francisco...


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Submitted Sep 24, 2012 By: PD
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Author Topic: Gasoline prices finally begin to decline in U.S., Canada Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 3, 2012 11:00:34 PM

Ducati: well, Calis have brought that part onto themselves.
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DucatiRider
Rookie Author Maryland

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Message Posted: Oct 3, 2012 8:32:46 AM

Give the liberals a state and watch them have the highest gas prices possible.

Oh, and you have to buy a California approved lawn mower.
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 2, 2012 11:01:01 PM

I'm sure CA will see prices go up soon again.
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clpassenubye
Champion Author Los Angeles

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Message Posted: Oct 2, 2012 2:44:22 PM

not in CA
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honda0105
Champion Author Tallahassee

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Message Posted: Oct 2, 2012 4:58:49 AM

maybe declining for a few days, will probably be jacked up soon again.
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flagtown25
Champion Author New Jersey

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Message Posted: Oct 1, 2012 11:43:48 PM

Not for long.
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dcone2
Champion Author Los Angeles

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Message Posted: Oct 1, 2012 12:29:36 AM

ok
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honda0105
Champion Author Tallahassee

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Message Posted: Sep 30, 2012 11:03:31 PM

about time..
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honda0105
Champion Author Tallahassee

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Message Posted: Sep 29, 2012 10:10:18 AM

momcat: Pig Oil always jacks up prices if possible.
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momcat1
Rookie Author New York

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Message Posted: Sep 29, 2012 10:06:44 AM

That's why some stations in Dutchess County NY continue to jack the prices up, right?

I guess news here still travels by Pony Express. maybe they'll get it three weeks after everybody else, when the price really goes up again. Steal from the working slobs
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flagtown25
Champion Author New Jersey

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Message Posted: Sep 29, 2012 7:53:29 AM

Only very slowly.
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Foonz
Rookie Author Ontario

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Message Posted: Sep 28, 2012 2:57:49 PM

The decline in prices sure didn't last long. Our local prices have jumped back up 6 c/L in the last week.
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txrojo2005
Champion Author Austin

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Message Posted: Sep 28, 2012 11:04:14 AM

I agree with CapriceWagon.
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clpassenubye
Champion Author Los Angeles

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Message Posted: Sep 28, 2012 10:55:27 AM

not fast enough
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honda0105
Champion Author Tallahassee

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Message Posted: Sep 27, 2012 11:06:22 PM

not too much here. In fact, GB shows them going UP around here (at least temporarily).
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Gas4Gore
Champion Author Detroit

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Message Posted: Sep 27, 2012 10:53:16 PM

They go up they go down, so...
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tladouceur58
Rookie Author Alberta

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Message Posted: Sep 27, 2012 2:53:23 PM

As a Canadian, I LOVE driving in the USA and paying WAY less for gas. Sad, because a lot of it came from here in Alberta. Our Canadian fuel taxes are what is killing us when you can buy gas that has been shipped a couple of thousand kilometers south for less than you can buy it at home.
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CapriceWagon
Champion Author Washington

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Message Posted: Sep 27, 2012 12:06:21 PM

Inflation is killing us
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jpgilmor
Champion Author Houston

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Message Posted: Sep 27, 2012 7:58:36 AM

Demand, says Beck “remains significantly below 2010 and 2011 levels--remaining very near 1997/98 levels. This 15 years of demand destruction cannot be explained fully by increased efficiency or increased use of biofuels and renewables (these have, at most, a marginal effect). This is truly an indication of the real and continuing trouble in our economy, high unemployment and underemployment, loss of manufacturing, and reduction of shipping.”

So demand has fallen of to 1997 levels, yet we’re still seeing prices that are ruinous to the economy. One of the benefits of a recession should be that at least the prices of things like oil and food will go down.

So, the better question for CNBC to ask- and answer- then is: How is the White House keeping oil prices so high?

The price of oil illustrates the QE effect.

Economic stimulus measures such as QE3 lower the value of the U.S. dollar and other fiat currencies. From that, investors flee paper assets for commodities such as oil, grains and precious metals.

With economic growth projections low in the United States, China, and India, and with Europe in a recession, oil has reason to slip. But speculators, as a result of QE3, helped push the price of oil toward $100 a barrel.

http://finance.townhall.com/columnists/johnransom/2012/09/27/obama_owns_these_oils_prices/page/full/
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Donatelo
Champion Author Dayton

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Message Posted: Sep 27, 2012 7:56:31 AM

ok
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uksqueeze
Champion Author San Jose

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Message Posted: Sep 27, 2012 12:50:29 AM

Totally agree with kilomente! Part of the reason our taxes seem high is that our govt. turns around and subsidizes oil consumption with it. We are still paying the higher price, but through income tax rather than at the pump. And therefore there is little incentive to conserve. Stupid!
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uksqueeze
Champion Author San Jose

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Message Posted: Sep 27, 2012 12:48:28 AM

Loose monetary policy by the fed will put long-term upward pressure on energy prices.
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honda0105
Champion Author Tallahassee

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Message Posted: Sep 26, 2012 11:02:23 PM

not enough... need to drop a LOT more.
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txrojo2005
Champion Author Austin

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Message Posted: Sep 26, 2012 5:20:49 PM

Gas prices have dropped in central Texas but I expect them to go up with QE3 soon.
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kilomente
Rookie Author Los Angeles

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Message Posted: Sep 26, 2012 2:39:21 PM

We Americans love to complain that our fuel prices are so high, but the truth is that all of our fuel is subsidized by the government to be artificially cheap. Be thankful you're not seeing this when you pull up to the pump! And I believe that's in Euros! per liter!!!!
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CapriceWagon
Champion Author Washington

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Message Posted: Sep 26, 2012 1:24:41 PM

We've seen about a 5 cent drop here
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Donatelo
Champion Author Dayton

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Message Posted: Sep 26, 2012 8:09:47 AM

ok
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RalphHightower
Champion Author South Carolina

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Message Posted: Sep 26, 2012 5:05:48 AM

I've seen prices drop 5 to 10 cents.
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garywa01
Sophomore Author Alberta

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Message Posted: Sep 26, 2012 1:10:18 AM

Still a ways to go
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pricewar
Champion Author Ogden

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Message Posted: Sep 25, 2012 11:22:48 PM

wake me up when gas goes down a buck
5 cents drop... what a flipping tease!
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dcone2
Champion Author Los Angeles

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Message Posted: Sep 25, 2012 6:42:00 PM

ok
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bevmill
Champion Author Georgia

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Message Posted: Sep 25, 2012 6:21:48 PM

Good, its about time.
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repseng
Sophomore Author Twin Cities

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Message Posted: Sep 25, 2012 5:31:41 PM

K
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PurplepassionNC
All-Star Author North Carolina

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Message Posted: Sep 25, 2012 4:56:55 PM

Finally since the Fourth of July!!!!
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bull2010
Sophomore Author Houston

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Message Posted: Sep 25, 2012 3:22:20 PM

still way too high! acceptable price might be 2.00/gal! most havent seen cost of living increases, only decreases! oil industry continues to price gouge the public while getting record! profits!

[Edited by: bull2010 at 9/25/2012 4:24:54 PM EST]
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Taxrefugee
Champion Author Arizona

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Message Posted: Sep 25, 2012 2:09:04 PM

Not here in northern AZ
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stinkpickle
Sophomore Author Iowa

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Message Posted: Sep 25, 2012 1:12:50 PM

Prices jumped $.08 yesterday around here.
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clpassenubye
Champion Author Los Angeles

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Joined:Mar 2011
Message Posted: Sep 25, 2012 11:15:07 AM

not quick enough where I'm at
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CapriceWagon
Champion Author Washington

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Message Posted: Sep 25, 2012 10:34:12 AM

Yes
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puinsai808
Champion Author Honolulu

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Message Posted: Sep 25, 2012 10:15:46 AM

old
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HYEgasCA
Champion Author Fresno

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Message Posted: Sep 25, 2012 10:08:13 AM

Hope and Change
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DucatiRider
Rookie Author Maryland

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Message Posted: Sep 25, 2012 9:53:22 AM

So what? Prices are just going to go back up. This isn't the time to buy that new SUV.
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7SPEEDY7
Champion Author Flint

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Message Posted: Sep 25, 2012 8:48:29 AM

How Fast $$ change.......
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BEngr
Champion Author Illinois

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Message Posted: Sep 25, 2012 5:42:30 AM

Well somebody got their wires crossed yesterday, because gas prices here went up by 30 cents a gallon.
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WalRus49
Champion Author Boston

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Message Posted: Sep 25, 2012 5:21:21 AM

Bunk!
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Sneakers55
Champion Author Houston

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Message Posted: Sep 25, 2012 5:19:07 AM

On Sep 25, 2012 4:43:15 AM, Dailyrun wrote:

>Just remember all of this crap when November
>comes -- GET A GRIP and vote!!

I assume you're voting Obama in November. After all, the all-time high in Houston was reached in 2008 when Bush-43 was President. A Republican.
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fillerupyeoww
Champion Author Columbus

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Message Posted: Sep 25, 2012 5:15:09 AM

Hmmm... up .20 overnight here.
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LeeFree
Champion Author Pittsburgh

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Message Posted: Sep 25, 2012 5:07:09 AM

Dropped from $3.95/gal to 3.89/gal here. Better than nothing I suppose.
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dorelind
Rookie Author Lancaster

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Points:935
Joined:Sep 2012
Message Posted: Sep 25, 2012 5:05:58 AM

It's sad, the next generation will think anything under $3.75 is a bargain. Everyone is hurting here.
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PhilMils
Champion Author Virginia

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Message Posted: Sep 25, 2012 5:04:55 AM

It was to be expected.
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