Gas Just Hit Below $2.99 in Sacramento

My car's electrical system shat out on me last night, and the tow truck guy, who lives further north in the county, told me he filled yesterday for $2.58 a gallon.

What? That is like $0.40 a gallon cheaper than anyrhing I have even heard of in SoCal. I am going to have to start checking gas buddy again if the price spread really is that big.

Did you ever buy that Mini you were talking about? If not then now might be a good time if your current one is starting to give you trouble

That WAS the Mini, actually. It's used, nearly six years old...around the time where they start to bug out, I was told after I bought it. Still, for the condition it was in (which was pretty damn good) the price couldn't be beat, and it was yellow....which the company stopped making after '09 for some reason.

Well, maybe it will be an easy fix to repair it.

Hope so. Thankfully, I got some back pay this last check, so I won't need to dip into my credit card to fix it.

I'm beginning to think that the price is being kept artificially low in order to put the screws to Putin. Every article I've seen talking about how the price of oil is expected to remain low, is paired with an article quoting Putin defiantly saying that lower oil prices won't harm him.

It is still over $3.20 in the no man's land where California and Arizona meet.

Gas currently at $2.74 in Tulsa area. It had been down to 2.69 about three weeks ago. Sam's Club is always .03 cents cheaper than everyone else, so it will be $2.71 there.

Price fixing? How do you get the oil companies to go along with that? You don't think it's because the US went all Beverly Hillbillies?

It's because the oil companies love Obama and lowered the price to help the Dems in the midterms.

Wait...

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Oh and such Rene gas just dropped to under $3.00 (oops - was on iPod, had trouble typing) That's Supreme gas just dropped to under $3.oo per gallon

It's the Koch brothers. Or George Soros. Depends on which side of your bread is buttered.

Mostly around $2.75-$2.80 here in the city, though it can be found cheaper in some spots. The cheapest I've seen was $2.52 at a truck stop/travel center right on I-35 between here and Austin. That's crazy cheap for freeway gas.

Because the Saudis aren't cutting production as the price falls, which is something that they normally do. Don't forget that things like fracking aren't cost effective if the price of oil drops too much, so if the Saudis wanted to cut the US out of the oil market, they could just ramp up production and drive the price lower so that it no longer made sense for the US oil companies to continue to scale up production here.

A friend got gas for $2.39 yesterday.

Oil prices continue to fall. http://mobile.bloomberg.com/news/20...-year-low-as-pre-opec-talks-fail-on-cuts.html
One article I read estimates that falling oil prices have cost Russia $140 billion, while sanctions have cost them $40 billion.

Mid grade gas onbase is now 2.99. Of course it would be two days after I fill up.

Still, a year ago I expected gas to be closer to six dollars, so I can't gripe too much.

Down to $2.519 for the 87 octane in some places.

Thanks Obama!

Oh wait...

I agree that the price will stabilize. Some operators may go bankrupt, but once the price drops too low for the expensive production techniques (fracking, etc.), those new wells won't be drilled anymore, which will reduce supply.

Is it normal for commodity markets to organize themselves like OPEC? It just seems like price fixing for them to say "well, wait, we should lower production to bring the price back up."

$2.29, but I had to fill up a lot closer to home so I paid more than that.

$3.01 in Calexico this morning. I will be spending the next four days in San Diego and will report what the prices are there. I am still going to be stuck out here in no man's land for another three months.

Without giving away your precise location...do you live closer to North County? My brother recruits outta Escondido and as I mentioned earlier in the thread, gas up there is even cheaper than it is on base.

OPEC has decided to keep production levels the same as they are now. . http://mobile.nytimes.com/2014/11/2...d-and-prices-fall-further.html?_r=0&referrer=

Gas price war currently going on in Oklahoma City area, price as low as 1.95 some places.

Still 2.44 this morning in Tulsa.

I've been seeing it around $2.30 in Nashville.

With high oil prices, fracking becomes economically viable and greatly increases supply of oil.

OPEC ups production to lower world oil price in order to undercut fracking.

Russia and Venezuela watch their oil-driven economies shrivel.

Oil drops down to $40-50/barrel, gasoline goes back to $2/gallon.

If the fracking remains viable, this is a win-win all around. Even if it doesn't, it will just start up again if the price of oil rises.

In any event, it's a good example of market forces at work, and it's transformed the oil business in just a few years.

I can't remember any point in my life where the price has dropped so quickly like this. Gas is pretty much a whole dollar less than it was six months ago. It's now cheaper for me to drive to and from home this New Years than it would be to hop AMTRAK.

My neighborhood gas stations were selling it for $2.22/gallon yesterday. I feel gypped! I paid $2.31/gallon to top off the tank earlier this week.

I filled up last Weds for $2.87 in El Centro while in Calexico it was $2.98 but when I was in San Diego last weekend it was $3.07.

I filled up for (IIRC) $2.46 last night, which is probably the lowest priced fuel I've put in my work vehicle. A check of the fuel app on my phone shows that there are locations around town that take our gas card with prices as low as $2.39.