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Gas Prices

Nanci

Nanci

Alien Lover
I drove up from Florida ($2.60/gallon) to Ohio yesterday. I bought gas for $2.19, $2.29, and $2.09!!! And I saw it for $1.97 and $1.99. I really, really, really hope this lasts for a while.

When I started driving, gas was 35 cents/gallon.
 
>.>

Gas in Yellowknife is 1.19 a liter. It has come way down from the 1.39 it was for 3.5 years without budging.

So, that works out to just under 4 bucks a gallon in US currency. :)
 
Gas here hasn't been under 3.00 in two or three years and has been up there at 4.00 sometimes during that time. However it started to fall in the few months leading up to the elections, love elections for that! They are always good for a drop in gas prices, surely a coincidence, I'm sure. And it always falls a bit in the winter but it's still falling here, such a relief! Went from around 3.90 5 months ago to 2.27 last time I looked and it's still been going down about 3 cents every 2 to 4 days in the last 3 weeks or so.
 
So isn't it time to get that ethanol crap out of the gasoline? Perhaps then food prices would start to fall as well.
 
Rich Z said:
So isn't it time to get that ethanol crap out of the gasoline? Perhaps then food prices would start to fall as well.
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Isn't ethanol from corn? If so then that isn't going to affect food prices. Corn is artificially inflated in price so American farmers don't have to compete against foreign imports. The US subsidizes the crap out of corn growers. If you want those prices to drop, well, no one yet has survived taking on the corn lobby, so we can dream. :)
 
The high prices on fuel would affect food prices in general, though, for transportation costs.

It's really sensitive here in Canada because our urban centers are so more spread out. It has some weird effects, like hydrogenated oil was used more often in pastries in Canada than the US because it would preserve the pastries longer, so they could travel further.
 
I feel like a jerk for commenting here but gas here is the lowest I've seen it at 89 cents Canadian… Then again, I'm in Alberta, so it makes sense.
 
Nova_C said:
Isn't ethanol from corn? If so then that isn't going to affect food prices. Corn is artificially inflated in price so American farmers don't have to compete against foreign imports. The US subsidizes the crap out of corn growers. If you want those prices to drop, well, no one yet has survived taking on the corn lobby, so we can dream. :)
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And if the farmers who use the corn to feed their cattle have to compete in pricing against the companies who use the corn to produce ethanol, want to take a stab at what that will do for the prices of meat products?

Or haven't you noticed the high prices of groceries lately? You DO know that corn is used for feed for the farm animals that produce the meat at the grocery stores, don't you? And along those lines, there is that supply and demand thingie. If the demand is greater than the supply (using it to create ethanol would be part of that "demand" equation, I would imagine) doesn't that affect prices of the corn and the products that rely on it?

Oh and sorry if I am confused about your statement, but if the prices of American produced corn were inflated because of US government subsidies, wouldn't that make imported corn much more attractive to buyers if those prices were comparatively LOWER than the American produced stuff? Are you saying that the consumers of corn prefer the higher priced and subsidized domestic product over the lower priced imported product? "Price be damned, buy American" has finally taken hold in the economy?
 
I mispoke. The price is artificially low because of the subsidies, which allows US farmers to compete with foreign farmers, which is why so many products rely on corn.

If the market was allowed to actually work off supply and demand, I don't think there would be any concern over HFCS at all since it would be more expensive than cane sugar.
 
Tiffycj said:
I feel like a jerk for commenting here but gas here is the lowest I've seen it at 89 cents Canadian… Then again, I'm in Alberta, so it makes sense.
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It got down to 89 cents!?

I'm from Calgary, moved to Yellowknife 3 years ago, I thought it was still around a buck there.

Man, I remember gas being 47 cents a liter. :p
 
Nova_C said:
It got down to 89 cents!?

I'm from Calgary, moved to Yellowknife 3 years ago, I thought it was still around a buck there.

Man, I remember gas being 47 cents a liter. :p
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Bronze is at 81 cents (actually 80.something) a litre in Edmonton. It's always a bit cheaper in Edmonton than Calgary though.

I'm just thankful my projects are still being funded (works in oil and gas industry predominately).
 
The lower prices have to be good for the economy in general. Less money spent on gas = more money to spend on luxuries (or necessities...)
 
Nanci said:
The lower prices have to be good for the economy in general. Less money spent on gas = more money to spend on luxuries (or necessities...)
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It's a double edged sword. A lot of places like the Dakotas with shale oil are only seeing the boom because of expensive oil. At a certain point (I've read around $60-65 a barrel) it is no longer economically viable to extract shale oil. Some family members of co-workers who were working in the oil business up north have already been laid off.
 
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