OT: Gas Back Down to $2.09
- Thread starter AreYouNUTS
- Start date
Weird thing is I saw no less than five separate sets of birds, look to be seagulls could be wrong though, all flying north this afternoon. Is the apocalypse upon
You are either a fool or a very funny person. Not sure which.
Either way, remember Newt was promising $2.50 a gallon for gas when he was running in 2012? Guess he wasn't ambitious enough, much like Romney's pledge to get unemployment under 6 percent.
Understand that price was if you lived in certain zip codes and that's why gas station attendants are asking people for their Zip
True, but really the point. It went UP to $2.26 or so the day of the hike. It's dropped 20-cents already. We're talking, what, a couple of weeks? That's freakin' awesome and still a couple $$$ less than we were paying for a very, very long time, not so long ago. The tax is good for the state and, bottom line, putting hardly a dent in anyone's wallet right now.
Every barrel of oil in the World is priced in US dollars/Petro Dollar - the US is now a major oil producer...so a lower gas price is a sign of a weak dollar and weak economy.
But you guys knew that - right?
Yah - right...penny wise pound foolish.
But you guys knew that - right?
Yah - right...penny wise pound foolish.
It may not be putting a dent in people's wallets right now, but we would be saving more money if not for the tax increase, and when gas goes back up around $4 a gallon, it certainly will be putting a dent in people's wallets, especially since a lot of things we buy are transported by gasoline.
In some cases gas was exactly 23 cents lower than the $2.09 it is now. For me that includes Lincoln Avenue in South Bound Brook and Costco in North Plainfield.
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No matter the price per gallon, the tax is putting the same dent in your wallet: 23 cents per gallon. And as the price per gallon falls, the percentage of your price that is tax goes up. At $2.09 you're paying about a 20% tax state and federal.
If the dollar was weak, it would mean it would purchase less goods. The opposite is occurring here. Also, we don't have a weak economy. GDP is higher than where it was in 2007 when gasoline prices were $3.50 (without the Christie gas tax). There is just so much more supply due to better fracking technology, among other things.
We can increase the gas tax with these low prices. NJ has been down graded again because of the tax cuts to offset the gas tax.
Lol. You are exactly wrong. I always love when people take a shot at others' intelligence and are dead wrong.
A strong dollar keeps oil prices down, because it is more expensive for the rest of the world to buy. A weak dollar makes commodities priced in dollars cheaper.
Think of it like this. Say oil costs a $55 a barrel, and the dollar gets stronger, to the point where I can now "buy" that $55 dollars for $45 dollars of today's money. So what happens to goods priced in dollars? They all go down in price. Because if $45 is now worth $55, then the $55 barrel of oil is also now worth $45.
Has nothing to do where it is produced. It is supply and demand and who can deliver to a location (terminal) at the lowest cost. Right now the world has an oversupply for many reasons that is keeping the price suppressed. Wouldn't surprise me if you are filling up with gas produced in europe and imported to the atlantic coast.
Says the guy who is threatening to move to Canada. As if anyone cares.
But really, I hope that works out for you, eh.
Not sure if you have a good understanding of simple economics or how Oil/foreign exchange trading works. But you could not be more wrong in your analysis. Dollar strength/weakness have an inverse relationship with oil price. Therefore strong dollar usually correlates to low oil prices.
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