The decline of fuel prices

Four Suns

Four Suns

Not a pot stirrer
TECHNICAL Contributor
Oct 4, 2006
10,533
Williamsburg, VA
Boat Info
2003 480 DB
Engines
QSM-11 Diesels
The wholesale cost of gasoline fell below $1 a gallon today. Unbelievable. There are now predictions that retail gasoline could be less than $1 a gallon by the summer with wholesale cost around 60 cents.

This could really help out the boating industry...

Time to buy a bigger boat.

Who were the dorks on CSR saying gas would never be below $100 a barrel again? You out there? Hello?
 
Boy, not to look a gift horse in the mouth, but I’d take a stable price of $2.50/gallon over this zig zag stuff.

Lowest I have seen this week by us is $1.72.9/gallon. With oil continuing to fall I assume it will go even lower.
 
Land prices are about $1.53 here today. Generally we see about a 40-50 cent per gallon premium at the marina pumps.

IF prices stay this low, then the way we boat will change radically. Much more opening up and on plane rather than putting to the nearest cove and parking for hours.

Mike
 
Uplate said:
IF prices stay this low, then the way we boat will change radically.

Mike
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No joke, we may not even have jobs to afford $1.00 gallon gas. It really would change the way I use my boat. I think I'll convert mine to a submarine overnight at that point :grin:
SB
 
Four Suns said:
The wholesale cost of gasoline fell below $1 a gallon today. Unbelievable. There are now predictions that retail gasoline could be less than $1 a gallon by the summer with wholesale cost around 60 cents.

This could really help out the boating industry...

Time to buy a bigger boat.

Who were the dorks on CSR saying gas would never be below $100 a barrel again? You out there? Hello?
Click to expand...

Not me. I'm the dork who was saying $70-80 dollars for a barrel of oil. I did mention that some analysts were saying as little as $50, but I didn't believe that. Oh well. I'm an information technology guy. Besides, what do you want for nothing?

Best regards,
Frank
 
Oil closed @ $45 and change today.......the price drop is a product of overall economic conditions. Although analysists predict gasoline to be under $1/gal next year, just wait until inflation abates and the economy improves......prices will rise as a part of the over all recovery.

But, I intend to enjoy burning diesel while it is cheap............who knows, we may resume our normal cruise pattern of 200 hrs/year.
 
Nice to see...but it ain't gonna last...
Watch what we pay next summer...
I'd be happy with 2.50 gal. too.
 
I find it unfathomable. But considering that the rise to $140 was absurd. . maybe it was logical that a fall back to $30/barrel is not absurd.

Overall. . the economy, the bailouts, and the "credit crunch" are simply not making sense to me. I make no predictions. Other than I may buy a bigger mattress and stuff what little money I have left into it.
 
i'm as happy as a pig in doo. two weeks ago I drove 600 miles on $60 worth of gas. today it's 20 cents cheaper a gallon. If gas at the marine is $2.50/gallon, i'll need new engines by the end of the season.
 
I paid $1.74 at the pump here last week. Not bad for California. During the summer gas at the marina was up to $5.15. Last week I topped off the tanks at $3.42. Just 8 weeks later. Kinda crazy but I'll take it.

Last year we didn't venture too far but we already decide we are going to cruise this next summer regardless of the price of fuel. We put off our annual cruise to San Francisco Bay last year (about 3 1/2 hours) but not this year.
 
Now if everyone's marina owners have any smarts they would be purchasing next summer's gas on "contract"....

Fat chance at our dry-stak!:smt021
 
:smt089just to cheer you all up petrol here in the UK is OVER $6.00 a gallon!!!!!!!!!!!!!!!!!:smt089
 
Like most CSR members, I've been through at least 3 'energy crises'. In the midst of each one it's hard to imagine that prices would ever decline. Yet each time they have.

In fact, the gasoline prices in the early 90's were lower than in the 40's when factored for inflation.

I predicted to my friends last summer that oil would get to $60/bbl within a year. I didn't take into account the torpedoing of the economy accelerating that slide.
 
Last year the price of fuel was the only dark cloud on the horizon. It was costing well over a grand to fill my tank (375 gallons). My 401(k) was doing ok as was my business. Diesel now is $2.17 a gallon. My 401(k) is down nearly the price of my boat, and business has slowed. I can buy lots of $5.00 a gallon diesel for what I lost on my 401(k). I'd rather worry about the high price of fuel, than my 401(k) tanking and the slowdown we are currently seeing. Never thought I'd wish it were last year again.
 
SEEG said:
Last year the price of fuel was the only dark cloud on the horizon. It was costing well over a grand to fill my tank (375 gallons). My 401(k) was doing ok as was my business. Diesel now is $2.17 a gallon. My 401(k) is down nearly the price of my boat, and business has slowed. I can buy lots of $5.00 a gallon diesel for what I lost on my 401(k). I'd rather worry about the high price of fuel, than my 401(k) tanking and the slowdown we are currently seeing. Never thought I'd wish it were last year again.
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I'm right there with you. Between my house value, my 401K and my personal investments I estimate that I lost over $500k in 2008. Replace that money and I will be happy to pay $4 a gallon.
 
Now everyone just calm down. The same a-hole talking heads that said it'd be $200/barrell back in July are the ones who now say it'll hit $30 again. And it may, but if you think it's going to settle up at $30 or even at $50, you're being ignorant. No one knows what the true demand-driven (as opposed to speculation price) of oil will stabilize at, but you can be sure it's somewhere btwn $40 and $140, probably close to the mean.

petrol here in the UK is OVER $6.00 a gallon
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Yeah, but you have wonderful socialized medicine! And if you make $52000 you're in the 40% tax bracket?? That cant be true, can it? But it's not so bad here in the states! We've got higher gas prices & higher taxes to look forward to, as well as a leader that will make our healthcare system a "right" (translation: the government will administer it, run it, destroy it and make the working people pay for it). They say that Europe leads the way!
 
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I just don't understand it! We up here in the great North, Alaska have all the oil, but are paying the high prices in the country!

Anchorage and Fairbanks: $2.51
Skagway: $3.81
Galena: $7.58:wow:

Now one of our two refineries say they are going to close down becuase it isn't profitable anymore.................
 
Yeah, and we went into Iraq to "get their oil." What were all the numb-nuts who were saying that thinking about back in July?

Only good thing about NJ (emphasis on ONLY) is cheap gas - $1.51 for 87.

BUT, the tolls just went up. YIPPEE!!!
 
I found some old gas receipts in our boat from the previous owner this past weekend. Summer 2002 he paid $1.73 at the marina in Newport News, VA.

I just got our 2nd gas home heating bill, ouch, no relieve there.
 
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