# Why are the gas prices going down
**URL:** https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795
**Category:** Miscellaneous and Personal Stuff I Must Share
**Created:** [December 14, 2004, 4:00pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795 "2004-12-14T16:00:43Z")
**Posts on this page:** 11
**Page:** 1
### Author:  [@Wesley\_Clark](https://boards.straightdope.com/u/Wesley_Clark)
#### Post date: [December 14, 2004, 4:00pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/1 "2004-12-14T16:00:43Z")
[http://story.news.yahoo.com/news?tmpl=story&ncid=&e=9&u=/ap/20041214/ap\_on\_bi\_go\_ec\_fi/economy](http://story.news.yahoo.com/news?tmpl=story&ncid=&e=9&u=/ap/20041214/ap_on_bi_go_ec_fi/economy)
“Another factor in October’s trade deficit was surging prices for imported crude oil. The average price of crude oil soared to a record $41.79 a barrel — a whopping 11.1 percent increase from September’s price.”
Gas is now $1.67 a gallon, back in September i’m pretty sure it was about $2.09 a gallon, so why the descrepency if crude oil is more expensive? Is this a misprint because I thought gas prices were $50/barrel back in September.
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### Author:  [@Bosda\_Di\_Chi\_of\_Tricor](https://boards.straightdope.com/u/Bosda_Di_Chi_of_Tricor)
#### Post date: [December 14, 2004, 4:19pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/2 "2004-12-14T16:19:15Z")
Hurricanes caused the shytdown/damage of many Gulf Of Mexico wells, offshore & on shore.
They are just now repaired/re-activated.
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### Author:  [@WhyNot](https://boards.straightdope.com/u/WhyNot)
#### Post date: [December 14, 2004, 4:50pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/3 "2004-12-14T16:50:29Z")
> [@](#):
>
> It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grammes a week. And only yesterday, he reflected, it had been announced that the ration was to be \*reduced \*to twenty grammes a week. Was it possible that they could swallow that, after only twenty-four hours ? Yes, they swallowed it. Parsons swallowed it easily, with the stupidity of an animal. The eyeless creature at the other table swallowed it fanatically, passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grammes. Syme, too - in some more complex way, involving doublethink, Syme swallowed it. Was he, then, alone in the possession of a memory ?
> -George Orwell, _1984_
Sorry, couldn’t resist.
I’ve also noticed the gas prices plumeting around here while barrels are getting “more expensive” - but costing less then they were reported this summer. You’re not alone in the possession of this memory.
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### Author:  [@Diceman](https://boards.straightdope.com/u/Diceman)
#### Post date: [December 14, 2004, 5:55pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/4 "2004-12-14T17:55:22Z")
I seem to remember that all of the oil speculators were worried that the US wouldn’t have enough oil to heat homes this winter. Maybe it was hurricane-related; I never did catch the reason for the concern. In any event, that worry seems to have gone away recently, and gas prices have fallen correspondingly.
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### Author:  [@Misnomer](https://boards.straightdope.com/u/Misnomer)
#### Post date: [December 14, 2004, 6:50pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/5 "2004-12-14T18:50:13Z")
> [@Wesley Clark](#):
>
> Gas is now $1.67 a gallon
It’s still close to $1.90 here . . . which is definitely better than the $2.00 it was just a few weeks ago!
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### Author:  [@Sean\_Factotum](https://boards.straightdope.com/u/Sean_Factotum)
#### Post date: [December 14, 2004, 7:34pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/6 "2004-12-14T19:34:54Z")
Complain when prices go up, complain when prices go down. You guys are never happy! 😉
We’re having a price war down here in parts of town. A new WaWa opened up in Hampton or Newport News, and between them and the Exxon station it’s down to about $1.40 per gallon.
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### Author:  [@wenonahbone](https://boards.straightdope.com/u/wenonahbone)
#### Post date: [December 14, 2004, 7:43pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/7 "2004-12-14T19:43:58Z")
Supply and demand. Gasoline supplies are high, price goes down. When they tighten up, they’ll go back up. Same with home heating oil and jet fuel.
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### Author:  [@WhyNot](https://boards.straightdope.com/u/WhyNot)
#### Post date: [December 14, 2004, 7:47pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/8 "2004-12-14T19:47:09Z")
> [@wenonahbone](#):
>
> Supply and demand. Gasoline supplies are high, price goes down. When they tighten up, they’ll go back up. Same with home heating oil and jet fuel.
But that’s exactly why “Another factor in October’s trade deficit was surging prices for imported crude oil. The average price of crude oil soared to a record $41.79 a barrel — a whopping 11.1 percent increase from September’s price.” makes no sense!
Newspeak, I’m tellin’ ya!
😉
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### Author:  [@Casey1505](https://boards.straightdope.com/u/Casey1505)
#### Post date: [December 14, 2004, 11:58pm UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/9 "2004-12-14T23:58:53Z")
I’m going with “false hope.”
Holiday tavel begins in earnest next week. Let’s see where the prices are then.
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### Author:  [@Lips\_Obsession](https://boards.straightdope.com/u/Lips_Obsession)
#### Post date: [December 15, 2004, 2:25am UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/10 "2004-12-15T02:25:01Z")
Just recently, crude oil was over $51 a barrel. I think I recently saw reports of it being back in the $41 range. That alone will make a big difference.
Here in NE Ohio, the cheapest I’ve seen was $1.52 a gallon (today).
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### Author:  [@Diceman](https://boards.straightdope.com/u/Diceman)
#### Post date: [December 15, 2004, 3:23am UTC](https://boards.straightdope.com/t/why-are-the-gas-prices-going-down/279795/11 "2004-12-15T03:23:03Z")
Today, most gas stations around here were selling for about $1.69[sup]9[/sup] (give or take a penny or two). One gas station had regular unleaded for $1.58[sup]9[/sup] (!). Too bad I didn’t need gas this evening.