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Why Gas Prices Are Falling In Time For Labor Day Travel

Daily Finance -- Just when many families have opted for "staycations" instead of traveling for the Labor Day weekend because of the lousy economy, they're finally catching a break on gasoline prices. Fuel is at its second-lowest level in five years, and some economists predict that it could drop much further in the months ahead.

The U.S. Energy Department said Wednesday that the average price of gas in the country was $2.68 a gallon, the least of this summer driving season. Only last year's $2.59 a gallon was lower in the last five years, the department said.

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Submitted Sep 02, 2010 By: SAVEITIL

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DrLyon Champion Author Michigan Posts:4,465 Points:756,730 Joined:May 2006	Message Posted: Sep 4, 2010 9:46:33 PM Ignore DrLyon Report Abuse Steadier prices would be a help...
JimTee Champion Author Tampa Posts:2,322 Points:1,192,700 Joined:Apr 2006	Message Posted: Sep 4, 2010 7:38:45 AM Ignore JimTee Report Abuse It boggles my mind why oil prices can't remain at one price until a "significant event" happens. Sort of like the price of other consumable goods (food, medicine, toilet paper or even your rent check...). OH that's right, it would put a lot of people out of work (speculators, investors, journalists, ....).
DrCashFlow Champion Author Massachusetts Posts:4,790 Points:1,173,055 Joined:Jun 2008	Message Posted: Sep 3, 2010 11:10:38 PM Ignore DrCashFlow Report Abuse too much supply ... hope it lasts.
honda0105 Champion Author Tallahassee Posts:15,290 Points:1,146,200 Joined:Nov 2008	Message Posted: Sep 3, 2010 8:54:03 PM Ignore honda0105 Report Abuse prices falling? Hmmmm.. where?
Gas_Buzzer Champion Author South Carolina Posts:11,870 Points:2,169,620 Joined:Sep 2005	Message Posted: Sep 3, 2010 7:04:21 AM Ignore Gas_Buzzer Report Abuse ajrn, you ain't seen nuthin yet. Obammie's policies will bankrupt our great country. However, that was the plan so don't be surprised when we again see "Peanuts" Carter's protege "Ears" administration's double-digit inflation the next 8-10 years. The ignorant who voted him into office will be the ones who suffer most. Good for them.
gs7101 Champion Author San Antonio Posts:3,223 Points:246,255 Joined:Jun 2009	Message Posted: Sep 3, 2010 6:28:38 AM Ignore gs7101 Report Abuse Well the people who live in Ohio will not agree -- gas prices increased!
ajrn Champion Author Toledo Posts:12,022 Points:2,519,440 Joined:Nov 2003	Message Posted: Sep 3, 2010 1:44:54 AM Ignore ajrn Report Abuse If you think about it.. Even at the "same" price, the price is lower, because inflation has already quietly crept in.. Look at the price of a gallon of milk, a dozen eggs-- whatever else.. Everything else costs more than it did a year ago.. Sometimes by pennies, sometimes they've "shrunk" the contents of the package.. Like frozen vegetables at Kroger used to be 16 oz.. Now they're 12, but the same price.. That 4 ounces lost, with no change in the price, means effectively the frozen stuff got more expensive, significantly so.. It's all relative-- and I don't think we've scratched the surface of how bad this will get.. (shrug)
runout9 Champion Author New Jersey Posts:3,164 Points:962,600 Joined:Dec 2008	Message Posted: Sep 3, 2010 1:27:18 AM Ignore runout9 Report Abuse Because of no job growth & forclosures. Supply is overwhelming demand.
genef01 Champion Author Nashville Posts:2,611 Points:834,680 Joined:Jul 2008	Message Posted: Sep 3, 2010 12:59:09 AM Ignore genef01 Report Abuse Not falling in Music City USA!
UseLessGasFolks Champion Author Iowa Posts:3,119 Points:840,905 Joined:Jul 2007	Message Posted: Sep 3, 2010 12:51:19 AM Ignore UseLessGasFolks Report Abuse Some of the greedy jerks around here jumped their prices 10 to 15 cents but when the others did not follow suit they had to drop them again. Hah Hah. (Nelson)
LostToo Champion Author Illinois Posts:3,131 Points:719,525 Joined:May 2009	Message Posted: Sep 3, 2010 12:44:36 AM Ignore LostToo Report Abuse What a joke! It shot up here 20 cents here so it can then be lowered 1 penny a day for the next 2 weeks. Same stuff as always. So they can make it look like this is a new happenstans of the labor day holiday but fact is its same ol same ol. Its just now the media had a slow news day and they noticed somthing that matters to normal people. I guess lady gaga didn't show her ass today.
BobD2009 Champion Author Long Island Posts:4,602 Points:778,735 Joined:Apr 2009	Message Posted: Sep 3, 2010 12:39:57 AM Ignore BobD2009 Report Abuse Maybe the speculators are getting cold feet.
defcon7 Champion Author St. Louis Posts:1,557 Points:197,525 Joined:May 2009	Message Posted: Sep 3, 2010 12:37:55 AM Ignore defcon7 Report Abuse It jumped up .25 two days ago, and came down .03, gee what a savings here in st. louis.
AKmailman Champion Author Alaska Posts:3,313 Points:1,103,495 Joined:Jul 2004	Message Posted: Sep 3, 2010 12:34:11 AM Ignore AKmailman Report Abuse decline in price ? energy department needs to come up her and see why we're .70 cents higher than their average
hubcapLA Champion Author Louisiana Posts:2,579 Points:667,505 Joined:Apr 2009	Message Posted: Sep 3, 2010 12:33:25 AM Ignore hubcapLA Report Abuse When I see it at the pump, I'll believe it.
250FORD Champion Author Minnesota Posts:8,266 Points:1,303,355 Joined:Feb 2007	Message Posted: Sep 3, 2010 12:31:51 AM Ignore 250FORD Report Abuse I have not seen any decline in the last week or so?
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Sep 3, 2010 12:31:17 AM Ignore CobraLeader Report Abuse ... They are??? Best I've seen is CONSTANT! ...
neemund Champion Author Seattle Posts:4,169 Points:1,087,520 Joined:Jan 2007	Message Posted: Sep 3, 2010 12:27:45 AM Ignore neemund Report Abuse I wish I could find gas for only $2.68 per gallon.
TIGERPAW46 Champion Author Florida Posts:5,173 Points:968,810 Joined:Mar 2004	Message Posted: Sep 3, 2010 12:26:00 AM Ignore TIGERPAW46 Report Abuse Went up in Northwest Florida starting sunday evening. then steadied at $.06 /gal higher.
thepi Veteran Author Twin Cities Posts:468 Points:983,000 Joined:Nov 2001	Message Posted: Sep 3, 2010 12:24:40 AM Ignore thepi Report Abuse What a pile of "you-know-what"! Gas prices up almost thirty cents a gallon here in the Twin Cities in the past week with oil dropping, gas futures dropping, hmmmmm Labor Day weekend rip off?
beachbumCA Champion Author Riverside Posts:10,459 Points:1,206,350 Joined:May 2008	Message Posted: Sep 3, 2010 12:24:11 AM Ignore beachbumCA Report Abuse Hope the price keeps going down for the next few weeks.
Number43 Champion Author Lexington Posts:6,320 Points:1,194,855 Joined:Oct 2008	Message Posted: Sep 3, 2010 12:23:49 AM Ignore Number43 Report Abuse Gas prices here should be in the $ 2.50 range but instead they are up into the $ 2.75-$ 2.80 range. What a ripoff.
9C1 Champion Author Chicago Posts:20,426 Points:3,792,810 Joined:Jul 2001	Message Posted: Sep 3, 2010 12:23:14 AM Ignore 9C1 Report Abuse GAsoline prices went up 15 to 20 cents here on Thursday. Go explain that.
Number43 Champion Author Lexington Posts:6,320 Points:1,194,855 Joined:Oct 2008	Message Posted: Sep 3, 2010 12:21:38 AM Ignore Number43 Report Abuse Gas prices here have jumped about 20 cents in the last 24 hours. There has been no large jump at the wholesale level. Just local crooks celebrating the labor day holiday.
roadrunnerMO Champion Author Kansas Posts:6,011 Points:1,237,160 Joined:Jul 2008	Message Posted: Sep 3, 2010 12:21:26 AM Ignore roadrunnerMO Report Abuse Going up in SE Kansas and in Joplin/Carthage Missouri area yesterday and today.
WhiteTreeIndian Champion Author New Jersey Posts:3,403 Points:672,445 Joined:Dec 2009	Message Posted: Sep 3, 2010 12:15:47 AM Ignore WhiteTreeIndian Report Abuse Definitely in the down direction, keep it there too.
cdanielwyke Champion Author Greensboro Posts:2,369 Points:582,885 Joined:Sep 2008	Message Posted: Sep 3, 2010 12:09:08 AM Ignore cdanielwyke Report Abuse The investors have been panicking however and have started buying contracts again. They've been doing all they can to keep oil between $70-80 a barrel.
craigsf38 Champion Author Rochester Posts:3,435 Points:1,049,815 Joined:Jun 2008	Message Posted: Sep 3, 2010 12:06:05 AM Ignore craigsf38 Report Abuse prices here have been stable 2.81 or more for more than 6 months
Prodaddy Champion Author Houston Posts:6,083 Points:1,435,995 Joined:May 2007	Message Posted: Sep 3, 2010 12:04:13 AM Ignore Prodaddy Report Abuse i agree with TBONE3
TBONE3 Champion Author Pennsylvania Posts:6,408 Points:1,514,645 Joined:Mar 2005	Message Posted: Sep 2, 2010 11:49:52 PM Ignore TBONE3 Report Abuse Prices dropping here BUT we can only hope it continues to drop. A buck ninety nine would be nice!
STLcardsfan All-Star Author St. Louis Posts:542 Points:999,145 Joined:Apr 2006	Message Posted: Sep 2, 2010 11:28:32 PM Ignore STLcardsfan Report Abuse Prices jumped here .25, and now dropped .04
kingofcode Champion Author Florida Posts:1,554 Points:437,585 Joined:Jun 2010	Message Posted: Sep 2, 2010 11:25:57 PM Ignore kingofcode Report Abuse PRICE GOING UP HERE 2.69 WAS 2.50 TWO DAYS AGO
EVBuddy Champion Author Nevada Posts:14,358 Points:2,572,540 Joined:Sep 2004	Message Posted: Sep 2, 2010 11:25:12 PM Ignore EVBuddy Report Abuse Judging from the number of cars on the road this morning (for thew start of school), gas May be going up soon.
tedjm1 Champion Author New York Posts:3,560 Points:393,585 Joined:Dec 2006	Message Posted: Sep 2, 2010 11:23:49 PM Ignore tedjm1 Report Abuse Gasoline price is a joke played upon consumers by BIG OIL.
jdcheers Sophomore Author Ontario Posts:115 Points:877,775 Joined:Oct 2005	Message Posted: Sep 2, 2010 11:22:56 PM Ignore jdcheers Report Abuse i gas up on a reserve by NIAGARA FALLS NY and just paid 2.60
Rageagainsttm Champion Author Tampa Posts:6,029 Points:1,451,095 Joined:Jul 2007	Message Posted: Sep 2, 2010 11:22:51 PM Ignore Rageagainsttm Report Abuse I would like to believe this but I don't think that it will happen.
joel27nc Champion Author Raleigh Posts:8,177 Points:1,396,345 Joined:Mar 2008	Message Posted: Sep 2, 2010 11:20:26 PM Ignore joel27nc Report Abuse Gas prices up in NC!
LoneGuy Champion Author Lansing Posts:6,168 Points:1,860,680 Joined:Aug 2005	Message Posted: Sep 2, 2010 11:19:31 PM Ignore LoneGuy Report Abuse It is the normal Thursday surge in Mid Michigan ahead of the weekend. We jumped from $2.65 to $2.79.
mapelle621 Rookie Author Montreal Posts:71 Points:24,450 Joined:Nov 2009	Message Posted: Sep 2, 2010 11:17:32 PM Ignore mapelle621 Report Abuse some places prices will go up, someplaces prices will go down and thats how gas works
idigau22 Champion Author Washington Posts:20,251 Points:2,808,325 Joined:Apr 2003	Message Posted: Sep 2, 2010 11:14:04 PM Ignore idigau22 Report Abuse $2.89 is no big deal!!
Blue_Cruzer Champion Author Lexington Posts:5,172 Points:1,206,625 Joined:Mar 2007	Message Posted: Sep 2, 2010 11:13:33 PM Ignore Blue_Cruzer Report Abuse $2.75 a gallon around here.
DustyHorse Champion Author Virginia Posts:4,036 Points:982,340 Joined:Oct 2008	Message Posted: Sep 2, 2010 11:13:07 PM Ignore DustyHorse Report Abuse For once the speculators have failed.
traindude Champion Author Virginia Beach Posts:5,615 Points:1,246,100 Joined:Jun 2007	Message Posted: Sep 2, 2010 11:12:41 PM Ignore traindude Report Abuse falling like a helium ballon
Jo120 Champion Author Arizona Posts:4,242 Points:1,475,430 Joined:Mar 2005	Message Posted: Sep 2, 2010 11:11:00 PM Ignore Jo120 Report Abuse Now that I'm retired, we never travel on three day weekends. We leave the increased traffic to those of you that still have to work Mon. to Fri. Good luck and enjoy Labor Day, you earned it.
JohnofGB Champion Author Flint Posts:3,095 Points:635,220 Joined:Feb 2010	Message Posted: Sep 2, 2010 11:09:40 PM Ignore JohnofGB Report Abuse What planet are you from? Not around here. It just jumped up today $0.10
Quick68 Champion Author Columbus Posts:4,864 Points:762,800 Joined:Dec 2009	Message Posted: Sep 2, 2010 11:08:17 PM Ignore Quick68 Report Abuse Have you looked at a pump today. The price jumped $0.30 a gal. In Columbus the price is $2.75.
jimgraham Champion Author Akron Posts:7,981 Points:1,517,820 Joined:Oct 2007	Message Posted: Sep 2, 2010 11:07:35 PM Ignore jimgraham Report Abuse Where are they dropping? Not here...
Bigwaynef Champion Author South Carolina Posts:7,687 Points:1,617,860 Joined:Dec 2006	Message Posted: Sep 2, 2010 11:05:52 PM Ignore Bigwaynef Report Abuse Prices have been rising here, some have come back down a little, but most are still up 10 cents
bababooey2 Champion Author Hartford Posts:4,005 Points:839,840 Joined:Sep 2009	Message Posted: Sep 2, 2010 11:05:21 PM Ignore bababooey2 Report Abuse Gas has dropped like a rock in the last week here.
Stang07 Rookie Author Maryland Posts: Points:100 Joined:Oct 2011	Message Posted: Sep 2, 2010 11:03:49 PM Ignore Stang07 Report Abuse Prices went up 20 to 30 cents here today also.