...yet the price of everything else is going up.

Are you feeling a little bit like

We're in the money, we're in the money
We've got a lot of what it takes to get along
We're in the money, the skies are sunny
Old man depression you are through, you're gonna strung

We never see a headline, 'bout a breadline today
And when we see the landlord
We can look that guy right in the eye

Because filling up your tank to "F" doesn't require a payday loan right now. Road trips are possibilities now. A weebit of freedom that was lost has come again.


Personally, I'm feeling sketical. It's coming down too fast. Slowly, I wouldn't frown at, but this rapid drop. There's suddenly peace in the middle east? I didn't get the memo.

The US is tapping huge shale reserves. This is increasing the supply.

OPEC has decided to not begin limiting output. This keeps the supply increasing.

The US dollar is getting stronger. The stronger the dollar, the less is costs to get gas in our pumps.

Many northern countries (higher users of petrol) switch to a winter blend. This is a cheaper petrol.

As such, prices are dropping.

OPEC wants to push the cost of oil down, to make it less profitable for smaller and newcomer producers, btw. We will probably see low prices for a while. Which is pissing off some members of OPEC who can't afford the drop in prices themselves.

still about a dollar too high. I think I saw 2.25 today... should be a .75 to 1.50

Domestic Oil production is up, the consumpution of oil in the United States is down. Falling demand for oil in Europe, Japan, and other industrial nations has made oil prices plummett. Throw in Russian and "small time" oil companies... these are the reasons for the decline.

Our highest consumption of oil was recorded in 2007... right before the crash (a depression with a "safety-net", for some) of the market. More young adults aren't buying cars and they live in cities. The Wall Street Jorunal reported that heavy duty trucks and SUV's sales are up, way up. The US still needs a comprehensive long-term plan for energy conservation for our economy and planet.

============================

[Edited 12/14/14 22:57pm]

yeah, take your chance and buy like 80 gas cans

Yeah man, 98.4/L today! Woot!

JustErin said:

Yeah man, 98.4/L today! Woot!

we pay roughly between $1.30 and $1.60

I read yesterday that sales are up for gas guzzlering SUV's, Americans are so short sighted.

[Edited 12/13/14 9:02am]

lazycrockett said:

I read yesterday that sales are up for gas guzzlering SUV's, Americans are so short sighted.

[Edited 12/13/14 9:02am]

yeah that is silly.

We are still being ripped off here. Petrol has only dropped from $2.22 a litre in July to $1.859 to $2.039 now, Princes drop last and the slowest here and we have to buy all our crude from Singapore apparently, plus our government takes about $1.20 per litre in taxes for infrastructure projects that never get finished.

.

Remember Americans, a litre is just over a quarter of a gallon, so thats about $7 a gallon equivalent for us.

Adorecream said:

We are still being ripped off here. Petrol has only dropped from $2.22 a litre in July to $1.859 to $2.039 now, Princes drop last and the slowest here and we have to buy all our crude from apparently, plus our government takes about $1.20 per litre in taxes for infrastructure projects that never get finished.

.

Remember Americans, a litre is just over a quarter of a gallon, so thats about $7 a gallon equivalent for us.

the tax in the US is about 50 cents a gallon or 12.5 litre. If we take out the TAX out gas is about 37 cents a liter. yours is 65 cents. So without taxes and with the exhange rate it is pretty close.

Yes, I have noticed and am taking advantage of the savings at COSTCO gas pumps. They're the cheapest in my area; however, I don't expect this to last. Just waiting for the other shoe to drop...

MoBettaBliss said:

OnlyNDaUsa said:

Adorecream said:

We are still being ripped off here. Petrol has only dropped from $2.22 a litre in July to $1.859 to $2.039 now, Princes drop last and the slowest here and we have to buy all our crude from apparently, plus our government takes about $1.20 per litre in taxes for infrastructure projects that never get finished.

.

Remember Americans, a litre is just over a quarter of a gallon, so thats about $7 a gallon equivalent for us.

the tax in the US is about 50 cents a gallon or 12.5 litre. If we take out the TAX out gas is about 37 cents a liter. yours is 65 cents. So without taxes and with the exhange rate it is pretty close.

Dosen't sound right. You know the exchange rate is not 50 cents anymore, a NZ$ is worth 78 to 80US cents. The tax is 1.20 a litre, meaning $4.80 a gallon or $4 in your money. We are royally screwed here by all the oil companies and the government.

Adorecream said:

OnlyNDaUsa said:

the tax in the US is about 50 cents a gallon or 12.5 litre. If we take out the TAX out gas is about 37 cents a liter. yours is 65 cents. So without taxes and with the exhange rate it is pretty close.

Dosen't sound right. You know the exchange rate is not 50 cents anymore, a NZ$ is worth 78 to 80US cents. The tax is 1.20 a litre, meaning $4.80 a gallon or $4 in your money. We are royally screwed here by all the oil companies and the government.

did you correct for tax?

Shyra said:

Adorecream said:

OnlyNDaUsa said:

the tax in the US is about 50 cents a gallon or 12.5 litre. If we take out the TAX out gas is about 37 cents a liter. yours is 65 cents. So without taxes and with the exhange rate it is pretty close.

Dosen't sound right. You know the exchange rate is not 50 cents anymore, a NZ$ is worth 78 to 80US cents. The tax is 1.20 a litre, meaning $4.80 a gallon or $4 in your money. We are royally screwed here by all the oil companies and the government.

New Zealand reportedly imports more than half of it's oil, and only has one refinery.

It's more expensive to get gas to your tanks.

The high gas prices feed money to your oil and gas industry. If it's not "trickling down" in the way that you feel is fair, follow the money. In theory, if NZ has untapped reserves, the high prices would encourage investors for exploration. Now that oil is trending downward, there is less incentive.

It's how the major players in the market keep companies dependant on their supply.