US Gas Prices - Page 6 - Mercedes-Benz Forum

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post #51 of 68 (permalink) Old 11-04-2008, 02:34 PM
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Should Obama win this evening I am assuming that the ploy to ease fears by the Oil Companies by manipulating prices will have failed and prices will start going back up within the next couple of weeks.

There is just no way that the drop of 50% in pump price is as a result of JUST conservation and less demand.

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post #52 of 68 (permalink) Old 11-04-2008, 02:35 PM
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We got down to $1.97 here in the Old Dominion, just in time.
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post #53 of 68 (permalink) Old 11-04-2008, 02:50 PM
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It's $1.81 here.

There are 2 sides to market economy. Why is nobody talking about supply change? I thought that Saudi Arabia was pumping oil at record levels even after Opec told them to chill out.
post #54 of 68 (permalink) Old 11-04-2008, 04:12 PM
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Originally Posted by mcbear View Post
Should Obama win this evening I am assuming that the ploy to ease fears by the Oil Companies by manipulating prices will have failed and prices will start going back up within the next couple of weeks.

There is just no way that the drop of 50% in pump price is as a result of JUST conservation and less demand.
"...JUST conservation and less demand?" How about crude prices already down by 50%? I love the way you try to set yourself up as some kind of soothsayer (or Carnac the Magnificent?) here by "predicting" things that any fool can see will happen. You're better than that--aren't you?

Don't believe everything you think
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post #55 of 68 (permalink) Old 11-04-2008, 04:21 PM Thread Starter
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I have to agree with Jay, because it's the first sensible point he's made in at least a year. Gasoline still comes from oil, and investors spent October running away from that commodity faster than you can say "jihad".

If the oil and gas companies wanted to massage our vote by way of manipulating gas prices, we'd be down around $1.29.
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post #56 of 68 (permalink) Old 11-04-2008, 04:31 PM
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$2.96/gallon US in Toronto Nov 4

We buy in litres up here.
Today $0.85/litre.4 liters to US gallon.
Regular gas is $2.96/US Gallon in Toronto.
Assumes $0.85 Cdn = $0.74 US.

I put 91 octane in my Benz @ $0.98 Cdn= $0.85 US per litre; $3.40 US per gallon!

Just wait til the popularity of diesel fuel really takes off and prices launch skyward accordingly.

Last edited by torontomichael; 11-04-2008 at 04:53 PM.
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post #57 of 68 (permalink) Old 11-04-2008, 04:32 PM Thread Starter
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Diesel is already about 50% - 55% more expensive here. Regular today is $1.87 / gallon, diesel is $2.79 (I think).
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post #58 of 68 (permalink) Old 11-04-2008, 04:34 PM
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$1.99 here tonight.
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post #59 of 68 (permalink) Old 11-04-2008, 05:13 PM
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Let me help you to really find what the price of gasoline should be if you think the diesel is selling at fair value. Diesel: 147K BTU/gallon, Gasoline 125K BTU/gallon
The ratio of Diesel/gas = 147/125 =1.18
If you think diesel is fair price then gas should be $2.79/1.18 = $2.36/gallon
For your current price of gasoline, if you buy a diesel engine car, you will never pay off the extra $4000 you pay for the diesel engine for the same car.

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post #60 of 68 (permalink) Old 11-04-2008, 05:19 PM
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Quote:
Originally Posted by QBNCGAR View Post
I have to agree with Jay, because it's the first sensible point he's made in at least a year. Gasoline still comes from oil, and investors spent October running away from that commodity faster than you can say "jihad".

If the oil and gas companies wanted to massage our vote by way of manipulating gas prices, we'd be down around $1.29.
Not surprising, he is or has taken the glasses off now that a new sheriff is coming to town.
JH will start making more sense and <fill in the blank> will be spouting nonsense.
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