Gas Prices

Just drove by the Quik Check on 517 and the price for Regular is now up to $3.47.9 a gallon. Why the sudden increase in the last few weeks?

kb2755 kb2755
Feb '13

No specific reason just ripping off the public once again!!!


Tell me about it!

As per the below article:
"The main reason is a 6.5 percent increase in the price of oil. But a heavy schedule of January maintenance at West Coast refineries has contributed to sharply higher prices. Meanwhile, low supplies of gas have pushed prices higher on the East Coast."

http://abcnews.go.com/Business/wireStory/oil-us-jobs-report-gas-jumps-yrs-18377455


Just a bunch of BS . Gas prices are now more all over the board than ever before. The price discrepancies are a joke. Still some of the cheapest places to get gas are dover/wharton, budd lake , and irvington. Than you go to places like Morristown,Bedminster, or Warren and some of the prices are literally 40 or 60 cents higher a gallon for regular . I remember getting gas in January 2009 at that Kingtown station in Netcong for 1.29 a gallon and it's been a disaster ever since.

Willy Bee
Feb '13

Paid 3.08 last week in Sevierville,Tn...now 3.28 at the same place as per gasbuddy.com

PREDATOR PREDATOR
Feb '13

Btw, crude oil coming from the US is at record highs. We are producing plenty of our own oil. But they make more money exporting it than selling it here. Keep shipping our resources out of the country. Bunch of short sighted greedy a/holes.

Bruin Bruin
Feb '13

I thought gas is supposed to be cheaper in the winter because of all the gov't subsidies they get to produce cheap home heating oil?


Not sure how that works, but if they get subsidies for putting more crude towards heating oil, that leaves LESS for higher order distillates like gasoline. Shorter supplies of gas = higher price they can charge.

Bruin Bruin
Feb '13

Hudson Valley NY yesterday in the 3.80's for regular. Good thing I gassed up in Jersey. Less money for booze, munchies and hookers with these prices.

jerseycash5
Feb '13

for every barrel of oil (55 gallons)=
19.7 gallons of gas
8.4 gallons of home heating oil / diesel
4.2 gallons of jet fuel
4.2 gallons of lubricants, waxes, solvents, etc
2.9 gallons of boiler oil
1.3 gallons of asphalt and road oil
1.25 gallons of petro feedstocks for plastics and chemical products

So more gas is made per barrel of crude than home heating oil.... so gas should be muuuch cheaper in the winter


The Election is over- both parties manipulate the price to make themselves electable- it worked again- for the incumbent- now we can "look forward" to gas that probably hits $4 by the summer again.

Washington doesn't care- even though the high fuel prices cripple our economy.

Gas at $2.50 per gallon would work for everyone- but that is a pipe dream now.

They have manipulated our perception, so if it goes close to $3, we think we are getting a "bargain"- The market is as corrupt as the people that manipulate it.

No end in sight.

The Rhyme Animal The Rhyme Animal
Feb '13

The new excuse is that the Hess refinery in Linden is closing. All whores and liars.

Mr Negative Mr Negative
Feb '13

So we are now at a point where a rumor of one refinery closing or a heavy maintenance schedule sends prices skyrocketing. And we really think we have our energy policy under control.
As predicted for years we will continue to see declines and problems in energy costs, foods costs, job availability etc.etc.etc.

Of course the media (and MG) will continue to hype that we are slowly getting better.


This just in, the White House is blaming the high gas prices on the Bush Administration.

kb2755 kb2755
Feb '13

A barrel of crude oil is only 42 gallons not 55. Refineries must be shut down periodically for maintenance no way of getting around it. And as for blaming anyone in the government the price of oil is set by the world market not anyone in Washington

oldred
Feb '13

Mark: How'd I get slammed for gas prices? Wow. I'm the one driving the roller skate hybrid that goes 0-60 in ten minutes....:>)

The economic numbers are indeed slowly getting better althogh GDP constricted last quarter by .1 which means we are at a current and real risk of the double-dip recession (although most don't see that happening). That's a balance sheet view and does not mean that most Americans are not feeling great pain. It does not mean that every thing is fa-la-la-A-skippy.

The fact that economic indicators have been slowly getting better does not mean we don't have significant economic issues; inflation, unemployment, deficit, debt, spending, etc. That does not mean it's "happy days are here again;" we are still deep in the hole. And that does not mean the recovery is strong ---- it is slow, it is fragile, and there is no guarantee we can even see the finish line, much less make it there. We are still at the brink of disaster. And we have so many bozo's in the do-less-than-nothing Congress, they could put us back in the soup any day now because of their "principles" alone not to mention making bad decisons or, in their current Tea-Party-principled pagentry ---- continuing to do nothing at all.

I think I have been pretty clear about the fragility and the weakspots of the economy, thank you very much.

mistergoogle mistergoogle
Feb '13

Actually, I just heard a simple review of the slow recovery: rich doing great + the rest of us sucking pond water = slow economic recovery.

Guess we are waiting for something to trickle down.

mistergoogle mistergoogle
Feb '13

Well if fuel prices keep shooting up, the economy is going to backslide despite any reported improvements. Theoretically, the ripples will go upstream too as a result, and the rich will feel the sting? lmao. BTW, the OP said the price 24 hours ago up there is 3.49? It's 3.69 in Stirling where I drive through to work.

Bruin Bruin
Feb '13

Bruin --- agreed.

I used to think the pain "ceiling" was $3.00, but not anymore. Appears it has moved to $3.50.

The best defense is to strategically reduce consumption. If everyone just cuts back by even 10%, they will start to share our pain. However, this is not instantaneous; the oil company's profits and deep pockets are much HUGER than ours.

mistergoogle mistergoogle
Feb '13

The reason I think the oil prices are starting to go up is. Israel is trying to flex some muscle in the Middle East. That's what is driving up the price of oil anytime there is just a hint. Of instability in the Middle East oil prices skyrocket and that has nothing to do with our government. Oil speculators drive up the price of oil more than any other reason.

oldred
Feb '13

The other reason oil prices are rising is that the world currency for oil trading is the US dollar and like it or not the global confidence in the dollar is dropping as we print more and do little to stem our overall debt.
There have been discussions with several countries about changing the dollar as the oil trading currency which would be instantaneously disastrous as far our what we pay for gas.
Lastly do not forget the quote from our illustrious presidents secretary of energy Mr Chu.

“Somehow,” Chu said, “we have to figure out how to boost the price of gasoline to the levels in Europe.”

Obama has no problem what so ever with our gas prices slowly rising.

Read more: http://www.politico.com/news/stories/0212/73138.html#ixzz2K3WZEptd


ethanol is a key ingrediant in "wintergas"..there was a fire at the largest ethanol plant on the east coast recently.... http://centralny.ynn.com/content/top_stories/635988/minor-fire-at-sunoco-ethanol-plant-in-volney/?ap=1&MP4 ethanol is in short supply for now

halo
Feb '13

OMG you are actually dredging up a story from over a year ago about Obama-love-high-gas-prices based on a quote from his energy secretary from 2008, over 5 years ago; a quote he gave BEFORE he was part of Obama's cabinet and a quote where he was factually CORRECT.

The man resigned already, give it a break, get a life.

Yes, the fact that the world trades oil on the dollar is yet another issue that should mostly vex the canadians since that's where we get most of our foreign oil which, incidently, only became true because the higher prices support oil from shale production. Of course, it vexes the Japanese and Chinese too since they are buying lots of oil. The next big hitters for production are South American as in Mexico and Venezuela and, then, and only then from the MIddle East.

So, which oil country(s) are you referring to as getting off the dollar? China? Canada? Mexico? Japan, Venezuela? And how would that be disastorous to the US?

mistergoogle mistergoogle
Feb '13

MG - A quote 5 years ago has relevance, it shows the thinking and mind set of the administration and who this paper president surrounds himself with.
Does anyone really think that Obama would not love to find a way to raise US fossil fuel energy prices if he could simultaneously maintain his approval ratings.

Many countries have had discussions about the removal of the dollar as the world oil currency. Iran, China, Russia, Venezuela.
We are now seeing point to point oil purchases (oil being purchased off the global market and in local currencies) at a rate never before seen.
The reason it would be disastrous is of course complicated economically but in simple terms trading oil in the dollar keeps the dollar relevant and in demand. It is also a major source of interest in purchasing treasury securities which act as a a oil buying credit line for future oil purchases.

I do not know for sure but knowing your tilt I would guess that you would be all for a "world currency" or global petrodollar. But that is only speculation not accusation.


In terms of the famous statement made by a resigned administration official before he took office, the actual policies of the Obama administration have not raised the price of gas. Quite the opposite: http://www.time.com/time/health/article/0,8599,2109474,00.html

Obama has made many policy shifts that have helped raise our fuel efficiency from 24.7mpg to 29.6mpg in 2011. And it continues to rise. Additionally Obama's "home energy" credits decreased our use of oil for home heating.

In terms of the dollar, yes I agree that having the US dollar be the standard helps our economy and movement off it would hurt. But they have been talking about this for years and so far, so good. We still are the best bet in town, but not as good as before the Tea Party reduced our credit rating over "chest thumping" antics.

But that is an economic issue of which petro-dollars are only part of the equation, major, but just a part. And oldred is right; instability and speculators are the reason for short term fluctuations; the market shifts you are talking about are a longer-term game.

Meanwhile, like I said, the best thing we, as individuals, can do in vote with our wallet. Use less fuel; economize your trips. Make purchase decisions to agressively reduce consumption; hopefully without reducing quality of life. Personally, I reduced my gas consumption 50% by trading 8-piston 350hp SUVs for hybrids. Last year my energy bill for heating and hot water went down 30% via alternative energy. And I have taken advantage of the energy credits (expired thank you Republicans) to further reduce both oil and electric usage dramatically (I had many holes.....)

But lambasting Obama is misplaced and will not improve your condition. His policies have not caused this.

And the secretaries statements all those many years ago were factually correct. An example is with the rising prices of gas, shale production allowed Canada to become the top oil supplier to the U.S. Without rising prices, we would be spending that money in the Middle East or Venezuela. Without rising prices, Detroit wouldn't be making the mpg inroads that it is. And thanks to Obama policies from the EPA, they will get to 50mpgs in the future.

Not really taking a stand here, just trying to say that there are things we can do and that blaming Obama is like blaming Bush the oil man for not improving the oil situation. In both cases, much is out of their hands and part of the market, not Washington and it is just not profitable to lament it as their fault.

mistergoogle mistergoogle
Feb '13

We can cut back on demand as much as we want. The evolving '3rd world' nations' voracious demand will balance it, negating any of our efforts. I'm just glad we don't pay european fuel taxes. Our current price per gallon would be for one LITER. I think it was somewhere around 2005 the gas prices really started to soar. It began costing me 400 bucks per month in my pickup just to commute. Shortly afterwards I bought a Honda Civic for commuting. It's nearly paid for itself already in fuel savings alone.

Bruin Bruin
Feb '13

2 weeks ago, Enrite in Washington on Rt 57 was $2.99 a gallon, cash, for regular. Last week it was $3.04. Hopefully it will drop again until $3.00. Other stations should do the same.

botheredbyuu
Oct '13

www.gasbuddy.com

Best place to check gas prices. Enrite is at $3.01.

Calico696 Calico696
Oct '13

2.99 at the Delta on Rt 57 in Washington last week.

Go to guy
Oct '13

Thanks Calico. I'll be out that way Friday and will be getting gas there. Maybe it will drop by then. :)

botheredbyuu
Oct '13

Whoever buys gas at Enrite to save a few pennies deserves whatever happens to their car as a result...

ianimal ianimal
Oct '13

Enrite is 3.01 cash 3.05 credit. Quick Chek in Washington is 3.05 cash or credit. These are the prices I saw at 8:30 this morning (10/23). There has been a lot of a few cents up a few cents down in the last few days at both stations.


ianimal, please explain. Have never had a problem.

botheredbyuu
Oct '13

I agree ianimal. I never buy unbranded gas. My husband would stroke out. LOL

Calico696 Calico696
Oct '13

The Enrite by me has been fined several times by weights and measures for having water in their tanks. They also had an incident where someone mistakenly filled their gasoline storage tank with diesel fuel and screwed up quite a few cars that were unfortunate enough to go there that day.

Whether that's just a local issue isolated to that particular station or indicative of the supplier for numerous Enrite stations, I can't say... but I'm not going to risk it. Quick Chek is cheap enough for me.

ianimal ianimal
Oct '13

Don't worry, everyone will be jumping for joy when we closer to the holidays , the prices will drop, and after 12/25 it will go up 1 - 2 cents per gallon, then jump back up by Memorial Day. This has been the cycle since Katrina hit...

mouse
Oct '13

Actually, I read an article, in the WSJ I think, that branded/unbranded gas all comes through the same pipeline. So, you don't know exactly what gas you're getting. The only difference between the different brands is the additives. They also did a study on Fifth Gear where they compared expensive 'branded' fuel with unbranded cheap stuff and there was no discernible difference. Same hp. Same performance. They compared different octanes as well. All that said, I still go to BP. They happen to be the cheapest around where I work.

MeisterNJ MeisterNJ
Oct '13

Wow, Middlesex and Wayne and Irvington areas, gas is 2.89, 2.93, 2.97

botheredbyuu
Oct '13

I was in Washington today is prices were 2.97 for regular not bad more then one station also


Knowlton gas station has diesel fuel in unleaded storage tank; several cars damaged.

http://www.lehighvalleylive.com/warren-county/express-times/index.ssf/2014/10/knowlton_township_gas_station_2.html#incart_river

As I mentioned above, this same thing happened at the Enrite station in Alpha last year sometime. They've idiot-proofed cars so you can't stick a diesel nozzle in an unleaded tank; why can't they do the same for their storage tanks?

It's also interesting to note that prices dipped below $3.00 at this time last year, too. They'll be back up to $3.69 before you know it (-;

ianimal ianimal
Oct '14

Htown, $2.83

botheredbyuu2 botheredbyuu2
Oct '14

Even lower this afternoon at a few stations, $2.81

Easy Going Guy
Oct '14

Trenton hopes the price stays down till they get these ideas passed.

http://www.nj.com/politics/index.ssf/2014/10/sales_tax_could_be_extended_to_gasoline_to_fix_roads_rails_and_bridges.html#incart_river

http://www.nj.com/politics/index.ssf/2014/10/bill_would_dedicate_sales_tax_on_electricity_natural_gas_and_hydrogen_vehicles_to_pay_for_roads.html#incart_river

Old Gent Old Gent
Oct '14

Yep, get ready to bendover. Does anyone really believe the roads will be better with an increase in the gas tax?

kb2755 kb2755
Oct '14

$2.77 at the Costco in Wharton when I passed by at 6 PM this evening.


On my way home I saw the following prices:

Clinton Valero $2.89
Clinton Hess $2.93
Hampton BP $2.89
Hampton Mobil $2.89
Hampton Fuel 31 $2.85
Washington Hess $2.91
Washington Lukoil $2.87

Gas near my job is still selling at about $3.25. SMH

Calico696 Calico696
Oct '14

The gas prices are down and slowly coming down in certain states.

The plan, is that it will make the current administration look good, and they will claim a fabricated story, that THEY provided measures to lower the gas prices.

That will hold good vibes in the peoples minds, and make them look good during the Mid Term Election Period; which is very close.

THEN !!!! ..... Watch it Go Up after that!

Embryodad Embryodad
Oct '14

Already started going up.......

Christine Christine
Oct '14

Going up where? Citgo was $280.9 today. Only one car in front of me for gas, 5% back on my Capital One card............Priceless LOL


On Saturday I paid 2.79.9 yesterday 2.83.9

Christine Christine
Oct '14

Yup, Citgo 2.80. 1 car there when i went by. Middlesex county still at 2.71

botheredbyuu2 botheredbyuu2
Oct '14

Crude Prices have risen today and yesterday. The bottom has been met FILL HER UP NOW!!!!!

Mr Negative Mr Negative
Oct '14

2.78 Citgo. Filled her up!

botheredbyuu2 botheredbyuu2
Oct '14

Re: Gas Prices

Talk about getting ripped off. Must be all that gas rip off tax (road work) we are paying for that was stolen by our elitist government. My niece lives in Nashville Tenn. she is gloating.

auntiel auntiel
Oct '14

Re: Gas Prices

If only!!!

Mr Negative Mr Negative
Oct '14

Rahway $2.71 Not that far off from Nashville.

botheredbyuu2 botheredbyuu2
Oct '14

What I don't understand is~ if their is an open spot why one won't either back into it or pull up!! They would rather just sit and wait.

Baci's mom Baci's mom
Oct '14

Because when you start pulling around, backing into a spot, etc....someone else will pull in at same time and then there is trouble. Seen it happen.

botheredbyuu2 botheredbyuu2
Oct '14

Auntiel: just tell her not to die rich there.....oh, yeah, and don't buy anything (which makes u richer unfortunately). I took a look since TN is on my "maybe I will move there" list. Seniors see taxes differently, many are not so concerned with sales tax, income tax, but property tax and investment tax might be more important. And inheritance/estate tax is critical.

Tennessee is indeed more tax friendly than NJ; however almost every state does that. It's tax structure in general is a mixed story; there are friendlier places today for seniors however, TN gets more friendly to seniors every year. However, usually when you see a lower tax rate on something, they make it up somewhere else.

No income tax in TN, however, dividends and interest are taxed at 6% so don't invest. And don't buy anything since sales tax runs an average of 9.45%, one of the highest in the nation. It's a weird mix with 7% on tangible property except pharmas and 5% on food and food ingredients. But prepared food, dietary supplements, candy, alcoholic beverages and tobacco are taxed at 7%. Since you can get hit by the county and/or the city, you can add another 1.5% to 2.75% to either rate.

Property tax rates are less than half of NJs and I would gather purchase prices are lower as well. There are senior rebate programs.

But here's the kicker for kicking off in TN. Tennessee has $1.25M exemption for inheritance tax and then charges between 5.5% to 9.5% on a sliding scale for the next 440K and 9.5% after that. So if you are lucky enough to die with a $2M estate, fork over $60K to the state. This is being phased out (exemptions raised) until 2016 when the tax goes to zero. So live long and prosper a little but don't buy stuff.....:>)

By the by, NJ gas tax is 32.9 cents, TN is 39.8 cents so the price difference isn't in the tax.

I know, more than you ever wanted to know.

mistergoogle mistergoogle
Oct '14

Re: Gas Prices

Went down to Wally's station this weekend and filled up the tank...still 17 cents a gallon! Cleaned the windshield and checked the oil for me too!

Denise Denise
Oct '14

Citgo $2.71 today. About 8 cars waiting.

botheredbyuu2 botheredbyuu2
Oct '14

mistergoogle, Not every one is concerned about protecting there money. Some just look at the quality of life with what they have.

Old Gent Old Gent
Oct '14

I never asked mg for his input (or anyone else) , we all know how much he loves shoving his views down our throats. He's a nut that's all. I pay him no mind, can't be bothered. They live in Tenn. because her hubby is a surgeon and that's where they decided to settle down and raise their family. You are right og their quality of life was more important. Home, faith, and family is their goal to a happy life. I always tell her I would rather pay a few cents more sitting in my warm dry car while someone else pumps it. Keeping people employed is a good thing.

auntiel auntiel
Oct '14

I noticed that the Mobil and BP stations on 31 in Hampton have gone back to same price for cash and credit.

Calico696 Calico696
Oct '14

I always love it when a fact becomes a "view."

Like I said, I am looking at Tenn. as a possible escape from NJ; facts is facts though and always something to consider.

mistergoogle mistergoogle
Oct '14

NJ gas tax is the lowest in the nation and hasn't changed since 1991. I actually wouldn't mind paying a bit more if the roads get fixed.

$2.67 in Ledgewood this past weekend for gas. I thought I saw $2.59 at Fuel 10, but I'm not positive.

MeisterNJ MeisterNJ
Oct '14

I love TN, especially Nashville. Meister, problem is, giving government more money is not assurance a goal will be met. The money is always spent on things it wasn't intended for. Case in point, tolls on bridges or roads initially instituted to pay for said bridge or road.

And don't forget, once the low price honeymoon ends, you will be paying through the nose when prices soar again wondering why you felt additional gas tax is ok.

Bruin Bruin
Oct '14

Citgo 2.64

botheredbyuu2 botheredbyuu2
Oct '14

Went to Citgo today at lunch. Barely over $3 for premium. Yahoooo! No wait either.

emaxxman emaxxman
Oct '14

Mobil in Hampton $2.63

Calico696 Calico696
Oct '14

Where is the Mobil in Hampton?

botheredbyuu2 botheredbyuu2
Oct '14

True Bruin, but you can say that about anything government. Something needs to be done. Many roads are terrible and they're just patching the patches rather than re-paving.

3.07 for premium (cash or credit) at BP in New Brunswick. With 5 cents off for their rewards and 3% cash back from my credit card, I'm paying more like 2.95. I'll enjoy it for now.

MeisterNJ MeisterNJ
Oct '14

Ha, it went down even more. 3.03 for premium. Just checked gas buddy.

MeisterNJ MeisterNJ
Oct '14

Gulf 747 US-46 W Hercules Rd Kenvil, NJ 07847 Premium $2.89

http://www.newjerseygasprices.com/Gulf_Gas_Stations/Kenvil/55338/index.aspx

Fuel 10 65 NJ-10 E South St Succasunna, NJ 07876 Regular $2.60

http://www.newjerseygasprices.com/Fuel_10_Gas_Stations/Succasunna/55880/index.aspx

Mr Negative Mr Negative
Oct '14

Re: Gas Prices

Hey Mg, Tenn gas prices as of today. Just so you know.

auntiel auntiel
Dec '14

Wow auntiel! I thought I got a deal at $2.31

Calico696 Calico696
Dec '14

Re: Gas Prices

Coming to you from Georgia. Merry Christmas!!

auntiel auntiel
Dec '14

OK, so gas is going down and we all like that.

My question is - I believe that Alaska is the only state with a cheaper combined (Fed/State) tax rate than NJ, and yet we see lots of reports from other states where gas is as much as $0.70-80 less per gallon than NJ.

Why?

I know cost of land,labor etc. is high here in NJ, but should that lead to gas that is 20-30% higher than in many areas of the country?

My parents live in Michigan and they typically pay 10% more per gallon than we do, right now their paying 10% less than we are even though the State and Federal fuel taxes are almost twice what we pay here in Jersey.

What is causing the higher than typical rates to still be charged here in NJ?


I was thinking the same thing Kurt, something doesn't smell right.

kb2755 kb2755
Dec '14

I noticed this too, Kurt, when they showed the national average on the news the other night and New Jersey was higher than it. It's never higher than the national average. Seems strange.

Tracy Tracy
Dec '14

Does NJ still require the gas additive in winter? (Or is that in summer) I know that used to effect the differences in the past.


I believe the requirement was ended - sort of - under the agreement it appears we use RFG blends (Re-Formulated Gas) which contain a 2% Oxygenate year round. If I have it correct, we no longer use a "Winter Blend" and a "Summer Blend" of fuel in the sense that most of us consider. (see press release) http://www.nj.gov/dep/newsrel/releases/99_0084.htm


HOWEVER,

There are several different mixtures (blends) in use in various parts of the country and at different times of the year to deal with the evaporation of fuels and their performance in various temperature ranges. One of the primary reasons for these blends is to maintain compliance with State and Federal Air quality standards.

If you think of fuel more as a recipe than an ingredient you will keep it straight - during different times of the year they add a little more "milk" here and reduce a little "egg" there to maintain combustibility and still comply with standards. The process of changing the recipe is referred to as different "Blends".

Of course I could be wrong....... I still don't see why fuel in NJ is costing so much more - I am not aware of any regional supply issues.


Would a blend we use here this time of year be more costly then a blend used in the south, where the lower prices seem to be? I really don't know. Thanks for you're very clear info.


Auntiel,

The pic you posted above showing $1.47 at the pump with the following: "Coming to you from Georgia. Merry Christmas!!"

I'm a little confused. Per the below link the absolute lowest gas prices in Georgia right now are only in the $1.80's a gallon???

http://www.georgiagasprices.com/


@vic, Kroger.com/fuel. That will explain it for you. I always forget the need to explain in detail before I post. Sorry. On another note, I am wondering after all this lowering of the price comes to an end, will it slowly creep back up or BAM we are going to see $5 to $7 a gallon by summer. Just a thought.

auntiel auntiel
Dec '14

Current prices at www.gasbuddy.com

Low price now in NJ is: $1.67/gal in Edison.

Locally, lowest is: $1.95/gal @CITGO; 17 NJ-57 S near Mountain Ave

djdowd djdowd
Jan '15

And yet we still can afford the gas jockeys..........

mistergoogle mistergoogle
Jan '15

Luke Oil in Washington NJ $1.899 today

4paws 4paws
Jan '15

Auntiel,I have same fear as you regarding the price going up

Bessie Bessie
Jan '15

Fuel 31 & Delta as well 4Paws. Ledgewood is down to $1.91 and probably even more tomorrow. I'm now paying $22 instead of shelling out $38.50. We're close to the huge 2008 drop.


Scratching my head.......How gas can be approx 30 cents a gallon cheaper a mere 40 miles away here in the same state is beyond me.

$1.90's here in Warren County
$1.60's in the Edison area of Middlesex County

Huh!


As long as world production remains at current levels prices will continue to fall as there is an excess of supply against demand. No country has cut production yet and as long as demand remains the same you will not see $5/gal gas this coming summer. If they cut production to raise the price then the lower echelon producers will start to increase their production to gain market share.


Vic - It's still $2.25-$2.30 in certain parts of Morris County.

Calico696 Calico696
Jan '15

Vic, my office is in Middlesex County and you are right, gas is cheaper here than in H'town area.

But

Diesel is cheaper in the H'town area than it is in Middlesex County. I just paid $2.47 in Great Meadows but it is $2.72 at the station down the street from my office. Doesn't seem to make sense.

Summerhelp Summerhelp
Jan '15

Mk, I'm counting on your words, lol. I'm filling my tank for $20.00 and loving it.

Bessie Bessie
Jan '15

Re: Gas Prices

Good news, bad news. While we may love it at the tank; we're gonna hate it in the economy. Weird.

But when oil prices were high, the US could afford to start new industries like horizontal drilling, fracking, and even oil sands. But at today's price of $45, none of these industries will produce oil for long. Our new oil industry is out of business. Done. Caput. It's not even a question at these prices. Equipment will be salvaged or scrapped (not going to use it for oil anymore), people will be unemployed in the very states doing the best economically. While that is happening, we will have more glut ---- since these guys right now are pumping but not selling, it's just backing up. Sooner or later, if low barrel price continues, they will have to dump this inventory too. Will it kill us, no. But it will hurt the recovery for sure and you never know the ripple effect. Hopefully these producers planned for this and will minimalize the financial blow, not that that will help the employees.

A dozen countries dependent on oil for national budgets will be running deficits since their budgets are based on oil. Canada, our largest foreign supplier, has 10% of it's GDP in oil production; it will be virtually shut down although the tar sands may only be 2% of the 10%. It may not sink them but will probably cause their GDP to fall. Russia, which has a budgetary buffer, is feeling the pain, but other places like Venezuela are SOL.

So the good news is cheaper prices. The bad news is unemployment and a renewed dependence on Middle Eastern oil. The light at the end of the tunnel is hey, we did it before and we can frack them over again and financially survive. We proved it!

http://www.slate.com/blogs/moneybox/2014/12/11/oil_falls_below_60_a_barrel_who_s_in_trouble.html

mistergoogle mistergoogle
Jan '15

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