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Published Tuesday, November 03, 2009 in Local
Gasoline prices continue roller coaster ride
The Times-Herald
The gasoline price roller coaster ride continues.
Last week, the price of crude oil dropped $3, to $77 a barrel. However, while the wholesale price of gasoline jumped an average of 32 cents in October, retail prices have only increased by two-thirds of that amount, according to AAA Auto Club South, which tracks gas prices.
"So for retail prices to totally reflect the cost of the product, they would increase by another 10 cents," said Gregg Laskoski, managing director of public relations for AAA Auto Club South, on Sunday.
But by Monday, gas prices had actually dropped.
The Georgia average price for regular unleaded was $2.559 Monday, according to fuelgaugereport.com. That amount was down every so slightly from $2.565. A week ago, the state average was $2.562.
In Newnan on Monday afternoon, a few stations were offering regular unleaded for $2.449 a gallon. The lowest price seen along Bullsboro Drive was $2.439, but several stations were selling regular for $2.57 to $2.59.
Crude oil prices were up $0.98 Monday on the New York Mercantile Exchange.
"While the fourth quarter is typically the time of year when retail gasoline prices are at their lowest, in coming weeks, there's a chance we could see Florida prices between $2.80 and $2.90, and Georgia and Tennessee prices above $2.70," Laskoski said.
"And this is with excess supply and little demand."
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WAH, WAH, WAH. Bad Bush! Bad Bush! Bad Bush! Thump, Thump, Thump - (sound of feet drumming on floor).
Posted by Sissy at 11:27 AM
It's the free market that has got us into this mess. Supply and demand has nothing to do with it - gas prices are caused by investors pushing up the price of something because they are trying to make money. The absurdity of gas prices shows what the free market does when it is not reined in by sensible people.
Posted by sassy chick at 9:47 AM
It was predicted that by going to war in Iraq, the price of oil and fuel would rise. That report at the time was 'laughed' off but of course it turned out to be correct. Bush contributed to the current high prices by: 1. Weak dollar which was depreciated by 37% during the "boom" times of his administration. 2. Cut off Iraqi oil production by invading Iraq. Less supply = higher prices. 3. Bush made a couple trips to Saudi Arabia and was rebuffed by them. We had to remove our armed forces from Arabia because of the Iraq invasion. He and other presidents and failed polices toward Iran and other oil producing countries. 4. No new refineries. Bush supported the industry and not the consumer. 5. Scuttled alternative energy research by a lack of funding. (Food is going to get more expensive soon because of the Bush's myoptic support of ethanol) 6. By not mandating higher fuel economy from our vehicles.
Posted by turfkiller at 10:07 PM
WAH,WAH,WAH. It's STILL Bush's fault!! BAM,BAM,BAM - (sound of head banging on floor).
Posted by Sissy at 5:23 PM
There is nothing we can do about it so why bother reporting it.
Posted by Fox at 12:46 PM
Where is your obama now to help with this? Even your socialism can't stop the gas problems! FREE MARKET NOW!
Posted by real american at 11:57 AM
what happered to the gas?
Posted by ambrose yazzie at 10:32 AM
The oil companies have been playing games for years , I've seen gasoline prices vary as much as 20 cents per gallon depending on the area. Bush was blamed for gasoline prices being high , why isn't there a public outcry blaming Obama?
Posted by Twocrows at 9:46 AM
You call this news? It's been this way for years now.
Posted by Willy at 7:16 AM
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turfkiller
11/5/2009
Link To This Comment
Again you are out in left field. It was the democrats who have been running the country since 06 that refused to allow drilling for oil in the USA. For your info the armed forces are still in Saudi Arabia. They never left. I know I have friends still in the military that are there.
Posted by Dash Riprock at 1:11 AM