$ 1 Gas in 2009

[Barbeque Senior Member Find all posts View Profile Close Barbeque]

Gulf Oil CEO says gas could hit $1 next year - Quincy, MA - The Patriot Ledger

[PHILL12 Senior Member Find all posts View Profile Close PHILL12]

Gulf Oil CEO says gas could hit $1 next year - Quincy, MA - The Patriot Ledger

If it does go that low it is because the world now believes we are going to build elec, and other cars that use little gas in few years.

I would think many buyers will fall back in old habits and start buying these trucks and suv's at these great prices.

Just what all these oil countries would like us to do.

I remember setting in gas lines back in 70's for hours and having to do this almost everyday because one day was even number plates and other was odd day.

Talk started up of getting off gas running cars and prices dropped. Everyone went back to old ways and 30 years later we are getting shafted again.

Lets hope this time the car makers do make change. There is still a place for trucks and suv's but not for commuting to work in.

PHILL12

[PigsDad Senior Member Find all posts View Profile Close PigsDad]

Demand for gasoline is down significantly due to the economic slowdown. That is probably the most important factor in the huge drop in retail prices. The speculators are no longer in the market, so that premium has dropped as well.

Personally, I think the $1.60 gas we are seeing now is too cheap. I am a huge proponent of alternative fuels and getting away from our dependence on gas-powered vehicles. This low price does not provide the incentive for consumers to demand the non-gas guzzling vehicles.

Kurt

[Hoc Super Moderator Find all posts View Profile Close Hoc]

Demand for gasoline is down significantly due to the economic slowdown.

Probably a chicken-and-egg situation. High prices probably slowed demand a lot, and the higher prices of consumer goods resulting from that probably helped accelerate the slowdown. Now, with the slowdown, lots of people just can't afford the gas anymore. So demand goes down, and prices decline.

I started driving my girlfriend's Volkswagen in our leisure time around May when gas prices came close to $4 a gallon, rather than my Q45, which gets about 18 miles to the gallon. So, my gas bill went from about $280 a month down to about $160. Now, it's closer to $100.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Possible, but not likely. Should the price close in on $ 1 a gallon it might be time for a big federal tax add-on (.50 to .75 a gallon) to discourage demand and pay down the debt.

[GeoPatSK Senior Member Find all posts View Profile Close GeoPatSK]

Possible, but not likely. Should the price close in on $ 1 a gallon it might be time for a big federal tax add-on (.50 to .75 a gallon) to discourage demand and pay down the debt.

I agree that the federal tax should increase, but it should go for mass transit and incentives for renewal, green energy.

[Elan Senior Member Find all posts View Profile Close Elan]

Possible, but not likely. Should the price close in on $ 1 a gallon it might be time for a big federal tax add-on (.50 to .75 a gallon) to discourage demand and pay down the debt.

We were just discussing this at work yesterday. If the underlying price of gas (in today's consumer market) was $1.75/G, and the gov't added a tax of $0.75/G, making gas a still reasonable $2.50/G, it'd add about $110B annually to the federal coffers. I'm ignoring a lot of specifics I realize, but just trying to show the impact a decent sized gas tax could have on the budget/deficit.

I for one am against gas being as cheap as it is currently. Just when people were starting to realize that cheap gas was not a God given right and they may have to alter their lifestyles, the price drops to 4 year lows.