Gas Prices Are Still Dropping With No Signs Of Stopping.

[Paul Neubauer]

Diesel has never dropped below $4.00 a gallon in Houston!

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[Jus Cruisin]

Locally Sam's was $2.74 during Christmas week. $2.94 ( non-discount average $3.31)this morning and I'm hearing $4.00ish by spring.... Just in time for boating. I paid close to $6.00 per gallon ethanol free last summer. That hurts when you pump around 200 gallons at a time.

 

[Rockman5159]

Gas prices have been reliably falling month over month since this summer’s record highs. Last week, 22 states had an average gas price under $3.00. Texas led the way with an average gas price of $2.70.

Demand Is Still Lower than Last Year
Current gas demand in the US is still 300,000 barrels per day lower than this time last year. And that’s even after demand grew from 8.26 million to 8.71 million barrels per day in mid-December.
Even with upticks in demand, gas supply in the US grew by more than 2.5 million barrels.

Prices Should Continue Falling in New Year
Here’s what AAA spokesperson Andrew Gross had to say about the ongoing fall in prices.
“The cost of oil, gasoline’s main ingredient, has been hovering in the low-to-mid $70s per barrel, and that’s $50 less than the peak last Spring. Combined with low seasonal demand, gas prices could slide a bit more before leveling off.”
If supply continues to outpace demand and demand remains lower through the winter, these declining prices will likely continue.

How Does This Impact Car Prices?
Filling up a tank of gas is a minuscule expense compared with purchasing a new car. But the two prices will always be inextricably tied.
As gas prices rise, we see buyers favor fuel-efficient cars. That means buyers are buying fewer non-work trucks, performance cars, and large SUVs.
Prices go so high this summer that we were seeing people giving up gas altogether, choosing to make the switch to an EV or give public transit a try.
But now that gas prices have fallen for a prolonged period of time, we see a large uptick in the quantity and prices of the less fuel-efficient cars on our marketplace.
So if you’ve been thinking about selling a gas guzzler, do it before gas prices go back up in the spring.

Except in South Carolina where iy went up 17 cents per gallon in the past 2 days.

 

[BHunted1]

 

[KBKEITH]

It’s up here in Michigan.

Locally Sam's was $2.74 during Christmas week. $2.94 ( non-discount average $3.31)this morning and I'm hearing $4.00ish by spring.... Just in time for boating. I paid close to $6.00 per gallon ethanol free last summer. That hurts when you pump around 200 gallons at a time.

We also had a gas tax increase in MI. Roads still suck as you know.

 

[carmigo]

Um, we’re going up in eastern NC.

Some states are going up, while some states are around $3. Shoutout to anyone in NC, we feel for you.

 

[carmigo]

Same in the mid atlantic, price is up 20 cents from last week. Word around here is prices will be at $4/gallon in the next few months.

Gasp... Fingers crossed it doesn't get too bad. Might need to start walking everywhere.

 

[carmigo]

Not too bad!!

 

[carmigo]

Diesel has never dropped below $4.00 a gallon in Houston!

It would be a miracle if Diesel ever got to $3 in Texas, imagine the celebrations.

 

[doug56wshs]

up .60 here in eastern ohio in the past 2 weeks!

 

[Paul Neubauer]

It would be a miracle if Diesel ever got to $3 in Texas, imagine the celebrations.

I miss 2020!

 

[carmigo]

I miss 2020!

Under $2??? What a dream.

 

[carmigo]

up .60 here in eastern ohio in the past 2 weeks!

Oh no Sending good vibes to Ohio.

 

[NoReins]

Ha! Pennsylvania added an additional .03 cent tax to gas on January 1st. So the total gas tax is like $0.61. Pennsylvania is officially now the state with the 2nd highest gas tax in the US.

I dont care if you are Democrat, Republican, Libertarian or someone that identifies as a droplet of dew on a flower. No-one will ever do anything to lower gas taxes.

 

[Davec9]

20 cent a gallon increase over last couple of weeks here in the Deep South.

Yep... here in South Florida too..

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