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Discussion in 'The OT' started by Doug Brott, Dec 4, 2008.
2.39 and dropping in Gainesville tx
Sub-$50 Oil Surfaces in North Dakota as Regional Discounts Swell
Businessweek - 1 hour ago
Oil market analysts are debating if oil will fall to $50. In North Dakota, prices are already there. Crude sold at the wellhead in the Bakken shale region in North Dakota fell to $49.69 a barrel on Nov. 28, according to the marketing arm of Plains All American
$1.99 in OKC.
$2.51 Sussex, NJ
Copied from article on CNN.
Remember how excited you were when the price of gasoline dropped below $3 a gallon? Now, for a few lucky drivers, its price has fallen below $2.
The lowest gas in the nation could be found at the OnCue gas station on 44th and Shields in Oklahoma City. Regular gas was selling for just under $2 there on Wednesday. According to Tom Kloza, chief oil analyst for the Oil Price Information Service and GasBuddy.com, other parts of the nation will soon see similarly cheap gas prices.
In the Parker, CO area a lot of stations went from $2.79 to $2.59 in just a week. That is the biggest drop in a week I have seen. This is starting to remind me of 2008 where gas quickly fell drom $4.00 to $1.45 It did go back up fairly quickly but the increase stopped at the mid $2s and stayed there through 2009 and 2010. Lets hope that happens again
But percentage-wise, it is like gas dropping just 2 cents a gallon in the 1960s, which was a common increment for a price change in that price stable era.
Meanwhile, our lowest priced, suburban Maryland stations are down to $2.61.9. I sure wish I needed to drive more...
This newspaper story talks about $1.929 prices in OKC but there was one on the news last night about $1.899:
We are not that far off in my section of the Denver area. Costco is $2.23 and just about everybody in Parker is $2.49 or less
Down to $2.37.9 in Suburban Maryland, at the low price mid point between Washington, DC and Baltimore. Now I have to drive around for a few hours so I get to fill up again!
I haven't studied the economics of this, but at $60 a barrel for oil, the fracking companies may not be able to service their debt and will go bankrupt. That will not stop their operation of existing drainage, because the receiver of the assets only has to cover his marginal costs, but at some point, the drainage area does become drained or depleted and then more drilling has to be capitalized.
$2.33, Sussex, NJ
$1.89 in OKC
Most stations in the Richmond, VA area are below 2.20 and a few are now under 2.10.
In my neck of the woods we got excited because gas was down to $2.65 yesterday.
If you were to put your (approximate) location in your Profile, we wouldn't wonder where your woods are....
Whose woods these are, I think I know.
His house is in the vlillage, though...
Heh. Your location marker is one of the best on the board.....
Most stations near my house today are at $2.03.
Here's what my wife paid at Kroger this weekend:
I love the people on the news that claim they just bought their hu-mongo SUV or Truck because gas prices are low!