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Gas Prices Two-Year-Low Providing Consumer Relief At Pump

Newsoxy -- Gas prices have plummeted to a two-year-low providing consumers with some relief, but now some financial analysis said prices could still fall to levels not seen in years at the pump.

AAA reports that the average price of a gallon of self-serve regular gas has fallen steadily every day for almost four weeks. Tuesday’s $3.24 a gallon, which was the lowest price so far in 2012 and only three cents away from the price last reached in February 2011.

Tom Kloza, chief analyst at the Oil Price Information Service, said that he thinks the chances are good that prices will reach that nearly two-year low, based on what he’s seeing in the wholesale price market. OPIS compiles prices data from 120,000 stations nationwide for AAA. He said the national average is partly being driven down by better


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Submitted Dec 25, 2012 By: aservant
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REPLIES (newest first) Post a Reply
DanMtz
Champion Author Oakland

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Message Posted: Dec 26, 2012 12:56:22 PM

Good. Something tells me I may need the extra money next month.
doctorindyj
Champion Author Santa Fe

Posts:5,294
Points:1,580,975
Joined:Nov 2009
Message Posted: Dec 26, 2012 10:50:31 AM

A two year low. Not an all time low. Love how they play the word games. Thank you sir may I have another.
dabayer
Champion Author New Hampshire

Posts:4,464
Points:958,325
Joined:Oct 2005
Message Posted: Dec 26, 2012 8:39:17 AM

Gas is still too expensive.

$2.50 a gallon would be reasonable.
bston
Champion Author Oklahoma City

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Points:1,477,375
Joined:Mar 2011
Message Posted: Dec 26, 2012 8:03:47 AM

Only providing pennies savings at the pump. We've been gouged a few years & that's hard to recover.
alterman156
Champion Author New York

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Joined:Dec 2008
Message Posted: Dec 26, 2012 1:02:58 AM

Gasoline prices could be lower.
jetskijerry
Champion Author North Carolina

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Joined:Mar 2011
Message Posted: Dec 26, 2012 12:07:06 AM

You're out of your mind.
Jeff4U
Champion Author Atlanta

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Joined:Nov 2004
Message Posted: Dec 25, 2012 11:43:00 PM

It's NOT a 2-year low.
Gas was $2.99 one year ago when I traveled at Christmas. It's $2.99 today.
BEGTWO
Champion Author Maryland

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Message Posted: Dec 25, 2012 11:34:08 PM

COOL
iFueler
Champion Author Durham

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Message Posted: Dec 25, 2012 11:12:37 PM

some prices going up at some stations around here
Tekkersmom57
Champion Author Syracuse

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Message Posted: Dec 25, 2012 10:42:23 PM

Gas prices should be lower than last year because oil is $10/barrel cheaper than it was one year ago. Who do they think they are fooling that we should be grateful that gas is lower than it was yet it is still more expensive than a year ago and oil was more expensive. Hmmmm....does this make any sense?
esq262
Champion Author Asheville

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Message Posted: Dec 25, 2012 9:35:19 PM

Going up here.
andy1024
Champion Author Allentown

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Joined:Dec 2011
Message Posted: Dec 25, 2012 9:29:46 PM

Hope there will be more relief coming.
TomT2Lee
Champion Author Cincinnati

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Joined:Sep 2005
Message Posted: Dec 25, 2012 9:21:31 PM

Folks, gas prices is not in the top 100 list of problems America faces. The other problems, several which contribute to high gas prices, have not gone away. They are getting worse. Don't equate a drop in gas prices to things are getting better.
KhelbenArunson
Champion Author Michigan

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Message Posted: Dec 25, 2012 4:59:51 PM

Considering it should be less than $2 a gallon....
Zing20
Champion Author Fresno

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Message Posted: Dec 25, 2012 4:53:18 PM

Prices need to go lower.
TripleHs
Champion Author Austin

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Message Posted: Dec 25, 2012 4:49:24 PM

way too high with given demand and supply
MrLefty0706
Champion Author Chicago

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Message Posted: Dec 25, 2012 4:12:30 PM

Continue to decline and then stay down.
investmentdr
Champion Author Cleveland

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Message Posted: Dec 25, 2012 3:17:08 PM

two year low people
Cothrom
Champion Author South Carolina

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Message Posted: Dec 25, 2012 2:08:12 PM

We are in the $2.80's here in SC. Everyone's excited and buy more. As usual, it will change.
VernonOR
Champion Author Oregon

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Message Posted: Dec 25, 2012 1:50:50 PM

We now think if we pay $3 plus that we are getting a bargain.
fuel2use
Champion Author Seattle

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Message Posted: Dec 25, 2012 1:10:33 PM

And here we are celebrating $3.24. I remember being shocked by 75 cent gas.
davenles
Champion Author Texas

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Message Posted: Dec 25, 2012 1:10:02 PM

A few stations here dropped the price a dime on Christmas Eve, but most had no Christmas cheer.
FuelishGuy
Champion Author Edmonton

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Message Posted: Dec 25, 2012 1:09:12 PM

...enjoy it while you can. The trend is up and prices will no doubt be going up ...again.
BUSMAN1105
Champion Author Atlanta

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Message Posted: Dec 25, 2012 12:46:00 PM

THAT'S GREAT NEWS FOR EVERYBODY THAT DRIVES!!!!!!!!!!!!!!!!!!!!!!!!!!!
lonewolf_947
Champion Author New Hampshire

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Joined:Mar 2011
Message Posted: Dec 25, 2012 12:44:09 PM

should still be going down .......... no reason to be this high in the first place ...... too much G R E E D going around ......lets start the new year right & lower the prices .........
gbs1
Champion Author Minnesota

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Message Posted: Dec 25, 2012 12:30:10 PM

After getting pummelled all year, we a getting a year end break
genoist
Veteran Author Orlando

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Points:171,070
Joined:Nov 2008
Message Posted: Dec 25, 2012 12:04:28 PM

I've been pleasantly surprised by the lower gas prices over the last few weeks. It seems to me that they would be more likely to be higher during this season.
Norm10
Champion Author British Columbia

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Message Posted: Dec 25, 2012 11:42:41 AM

Little or no relief around here!
dacofa
Champion Author Nevada

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Message Posted: Dec 25, 2012 11:33:17 AM

Short lived
kag2010
Champion Author Winnipeg

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Message Posted: Dec 25, 2012 11:27:47 AM

Too all of you "Merry Christmas".
abacus44
Champion Author Toms River

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Joined:Jan 2011
Message Posted: Dec 25, 2012 11:25:18 AM

@leraar2 - "at today's oil prices, should be down around $2.00
except for greed and speculators."

At $84. per barrel (42 gallons), that would be a cost of $2.00 per gallon just for the rew materials, so what about the cost of refining, transportation and other operations? Your expectations are nowhere near realistic.
kag2010
Champion Author Winnipeg

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Message Posted: Dec 25, 2012 11:25:00 AM

EIGHT YEAR LOW?
Barfood
Champion Author St. Louis

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Message Posted: Dec 25, 2012 11:23:49 AM

Merry Christmas to gas buyers.
datuner
Champion Author Kansas City

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Message Posted: Dec 25, 2012 11:17:34 AM

Lower, please. I'm too old to walk or ride a bike.
outlaw329
Champion Author Austin

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Message Posted: Dec 25, 2012 11:16:05 AM

Still about a dollar to much!
leraar2
Champion Author Massachusetts

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Message Posted: Dec 25, 2012 11:14:04 AM

at today's oil prices, should be down around $2.00
except for greed and speculators.
SavALot
Champion Author Virginia Beach

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Message Posted: Dec 25, 2012 11:13:31 AM

Keep setting new lows!
Wolfwings
Champion Author Delaware

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Joined:May 2004
Message Posted: Dec 25, 2012 11:13:01 AM

Two year low???

Think back to BEFORE 0-BUMMER... Regular was $1.46.

How about an EIGHT YEAR LOW?
garjul
Champion Author Flint

Posts:4,883
Points:1,418,605
Joined:Jul 2009
Message Posted: Dec 25, 2012 11:12:35 AM

Gas prices have plummeted? If you look at the stats, a year ago the USA avg was $3.23, now its $3.24 on avg this year, I don't see where the drop is from last year.
icer06
Champion Author Huntsville

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Message Posted: Dec 25, 2012 11:12:07 AM

I'm very glad, but hope the trend continues lower.
Skunk63
Champion Author Phoenix

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Message Posted: Dec 25, 2012 11:11:03 AM

It's lower but not low enough to celebrate.
boldrph
Champion Author Topeka

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Message Posted: Dec 25, 2012 11:10:36 AM

lowest price in over 2 years here ... $2.96
Delight777
Sophomore Author Cleveland

Posts:245
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Joined:Oct 2011
Message Posted: Dec 25, 2012 11:10:25 AM

Keep going down.
2granny
Champion Author Michigan

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Joined:Apr 2009
Message Posted: Dec 25, 2012 11:09:03 AM

Our gas prices went up for Christmas as usual.
Taxrefugee
Champion Author Arizona

Posts:3,670
Points:1,176,555
Joined:Jan 2012
Message Posted: Dec 25, 2012 11:08:44 AM

Every bit helps, but barely at a one-year low in AZ.
I10Express
Champion Author San Antonio

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Message Posted: Dec 25, 2012 11:08:27 AM

I'm not feeling relieved
RONALD777
Champion Author Houston

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Message Posted: Dec 25, 2012 11:08:23 AM

Recession will help keep prices low.
BBHybrid
Champion Author Pittsburgh

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Message Posted: Dec 25, 2012 11:08:20 AM

where? not here in pa
my97jeep
Veteran Author Washington

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Joined:May 2006
Message Posted: Dec 25, 2012 11:06:50 AM

can still go much lower!
Bleeder
Champion Author Virginia

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Message Posted: Dec 25, 2012 11:05:42 AM

Not low enough.
gvan
Champion Author Chicago

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Joined:Dec 2004
Message Posted: Dec 25, 2012 11:04:54 AM

"We're supposed to be thankful that prices are $1.30/gallon more than when Obama took office? Bah Humbug!"

If you want to go back to the Greatest Recession since the Great Depression you might see gas at $1.69 again. The only reason gas was at $1.69 was because the demand for oil declined significantly because there were so many cutbacks due to the economic collapse. BTW, do you remember $4.12 a gallon during the Bush Administration?
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