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Gas prices drop as demand tapers off

NBCNews.com -- The average price for a gallon of regular gasoline in the United States fell more than 8 cents during the past two weeks, weighed down by the drop in crude oil prices and low seasonal demand, according to a widely followed survey released on Sunday.
Gasoline prices averaged $3.7529 per gallon on Oct. 19, down from $3.8375 on Oct. 5, Trilby Lundberg, editor of the Lundberg Survey, said. This came after a month-long period when gas prices averaged around the $3.83 per gallon price, she added.
U.S. crude futures have dropped from September highs above $100 per barrel, contributing to the slide in gasoline prices, and last Friday, they ended at $90.14 per barrel, down more than 2 percent.
Lundberg said further declines in retail gas prices are expected if...

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Submitted Oct 22, 2012 By: MopedTime

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sjf238 Champion Author Philadelphia Posts:1,215 Points:647,655 Joined:Mar 2011	Message Posted: Oct 23, 2012 2:42:06 PM Ignore sjf238 Report Abuse Good.
remay Champion Author Houston Posts:6,963 Points:2,116,640 Joined:May 2006	Message Posted: Oct 23, 2012 12:18:10 PM Ignore remay Report Abuse "... weighed down by the drop in crude oil prices and low seasonal demand, according to a widely followed survey released on Sunday." Oh, really? I thought it was due to refineries starting up after repairs/maintenance. Whatever!
ChipperFL Rookie Author Jacksonville Posts:77 Points:1,250 Joined:Mar 2011	Message Posted: Oct 23, 2012 8:29:11 AM Ignore ChipperFL Report Abuse I for one will not get too excited until the prices drop and stay down for a lengthy period of time. This up and down roller coaster has got to end.
bicycle1966 All-Star Author Akron Posts:605 Points:401,840 Joined:Jul 2011	Message Posted: Oct 23, 2012 6:46:15 AM Ignore bicycle1966 Report Abuse in 2008 prices were as high or higher than they are now -- Before Obama.
ClarkSC Champion Author South Carolina Posts:3,073 Points:1,010,430 Joined:May 2010	Message Posted: Oct 23, 2012 5:54:14 AM Ignore ClarkSC Report Abuse Big deal. I will get excited when prices fall $1.26. Before Obama.
Nicoalbum Champion Author Ottawa Posts:6,015 Points:1,187,900 Joined:Jan 2010	Message Posted: Oct 22, 2012 4:27:56 PM Ignore Nicoalbum Report Abuse Lower demand means only weaker economy. Also lower oil prices do not necessarily transform into lower gas prices.
sljbc475 Champion Author Tucson Posts:4,215 Points:871,400 Joined:Dec 2010	Message Posted: Oct 22, 2012 2:45:37 PM Ignore sljbc475 Report Abuse Demand should drop-off until the holiday season.
fedupMN Champion Author Twin Cities Posts:2,949 Points:571,730 Joined:Mar 2011	Message Posted: Oct 22, 2012 2:40:27 PM Ignore fedupMN Report Abuse I guess we can thank Obama for this considering when gas is on the rise he gets the blame.
INBwana Champion Author Indiana Posts:5,451 Points:695,010 Joined:Apr 2011	Message Posted: Oct 22, 2012 1:39:51 PM Ignore INBwana Report Abuse That all depends on where you live. Demand could not be the only factor. Wait, the holidays are coming, gas will raise by quarters and we will be right back to where we were a month ago.
crep1291 Champion Author Ottawa Posts:2,578 Points:480,800 Joined:Dec 2010	Message Posted: Oct 22, 2012 1:16:17 PM Ignore crep1291 Report Abuse Yeah demand certainly has something to do with it... Though I doubt there is any such thing as a driving season anymore. There is still a refinery maintenance/problems/explosions/hurricane season though and that's almost over.
mageetp Champion Author British Columbia Posts:3,205 Points:624,905 Joined:Aug 2011	Message Posted: Oct 22, 2012 1:06:05 PM Ignore mageetp Report Abuse More spin.
PithyOpiner Champion Author Stockton Posts:16,200 Points:1,596,570 Joined:Jun 2008	Message Posted: Oct 22, 2012 1:05:53 PM Ignore PithyOpiner Report Abuse "Gasoline prices averaged $3.7529 per gallon on Oct. 19...." Man, that was only 4 days ago. And, prices here in California (the highest in the nation according to the GasBuddy Temperature Map) are much lower than that! I'm seeing $3.99 at Costco here in Northern California. Lundberg should get their info from GasBuddy so they can be up-to-date.
USNDVR All-Star Author Jacksonville Posts:765 Points:532,575 Joined:Oct 2009	Message Posted: Oct 22, 2012 1:05:22 PM Ignore USNDVR Report Abuse @ ultm8opie posts: "unfortunately, supply and demand have no relation to the price of gas". Laughable post. How could supply and demand not have any relation to gas prices? Even if you attribute everything to speculators, they still speculate based on threats to supply and to fluctuations in demand.
NavyEOD Champion Author Los Angeles Posts:10,001 Points:2,020,175 Joined:Jul 2007	Message Posted: Oct 22, 2012 12:52:05 PM Ignore NavyEOD Report Abuse Yea cause prices are too high.
camaro_man Champion Author Kitchener-Waterloo Posts:2,224 Points:609,685 Joined:Jun 2010	Message Posted: Oct 22, 2012 12:51:36 PM Ignore camaro_man Report Abuse sounds good..
calripken_8 Champion Author Virginia Posts:2,896 Points:658,215 Joined:Jun 2011	Message Posted: Oct 22, 2012 12:51:16 PM Ignore calripken_8 Report Abuse Looks like the demand for the buffoon in the white house is tapering off too.
ultm8opie Champion Author Twin Cities Posts:2,194 Points:532,880 Joined:Jan 2011	Message Posted: Oct 22, 2012 12:49:36 PM Ignore ultm8opie Report Abuse unfortunately, supply and demand have no relation to the price of gas.
Ticoman54 Champion Author Miami Posts:7,041 Points:1,491,045 Joined:Oct 2008	Message Posted: Oct 22, 2012 12:49:22 PM Ignore Ticoman54 Report Abuse Keep dropping!
johnnyg1200 Champion Author St. Louis Posts:4,143 Points:643,860 Joined:May 2011	Message Posted: Oct 22, 2012 12:48:54 PM Ignore johnnyg1200 Report Abuse 3.19 down from 3.69 last weel
a14morfun Champion Author Ontario Posts:11,791 Points:2,075,265 Joined:Jul 2005	Message Posted: Oct 22, 2012 12:47:27 PM Ignore a14morfun Report Abuse ok
doctorindyj Champion Author Santa Fe Posts:3,448 Points:838,835 Joined:Nov 2009	Message Posted: Oct 22, 2012 12:47:07 PM Ignore doctorindyj Report Abuse Demand tapers off? It tapered off long ago.
CORKYWC All-Star Author Chicago Posts:549 Points:2,116,230 Joined:Apr 2004	Message Posted: Oct 22, 2012 12:46:40 PM Ignore CORKYWC Report Abuse Prices have gone down here in Chit-town. Question is for how long?
slvrdo_dsprdo Champion Author Nashville Posts:4,692 Points:912,040 Joined:Jul 2008	Message Posted: Oct 22, 2012 12:46:39 PM Ignore slvrdo_dsprdo Report Abuse It's still a lot higher than it should be after Obama closed off the OCS and most federal lands to drilling.
KarateDude Champion Author Cincinnati Posts:2,487 Points:835,485 Joined:Mar 2008	Message Posted: Oct 22, 2012 12:44:46 PM Ignore KarateDude Report Abuse It has nothing to do with demand...
Betsy3266 All-Star Author Atlanta Posts:783 Points:301,740 Joined:Apr 2008	Message Posted: Oct 22, 2012 12:44:14 PM Ignore Betsy3266 Report Abuse Supply and demand mean nothing in the world of gas prices.
mnorthwood13 Champion Author Michigan Posts:1,385 Points:762,435 Joined:Apr 2010	Message Posted: Oct 22, 2012 12:43:14 PM Ignore mnorthwood13 Report Abuse and supply volatility...
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Oct 22, 2012 12:42:55 PM Ignore Lizzylou Report Abuse NOT HERE IN CALIFORNIA!!!
Bonito Champion Author Dayton Posts:15,747 Points:3,006,920 Joined:Jun 2004	Message Posted: Oct 22, 2012 12:41:27 PM Ignore Bonito Report Abuse This is BULL! The rich are selling their stock and taking huge gouging profits.
robaloma Champion Author Houston Posts:2,591 Points:690,425 Joined:Feb 2011	Message Posted: Oct 22, 2012 12:41:11 PM Ignore robaloma Report Abuse ok
07skydriver Champion Author Ohio Posts:3,254 Points:981,360 Joined:Feb 2009	Message Posted: Oct 22, 2012 12:39:34 PM Ignore 07skydriver Report Abuse Down to $2.99 here and expected to drop more.
dabbadu Champion Author New York Posts:1,056 Points:660,255 Joined:Feb 2011	Message Posted: Oct 22, 2012 12:38:57 PM Ignore dabbadu Report Abuse Good ole supply & demand.
jjjleblanc Champion Author Rochester Posts:5,867 Points:1,517,355 Joined:Jun 2008	Message Posted: Oct 22, 2012 12:37:53 PM Ignore jjjleblanc Report Abuse Was the demand ever there to cause it to rise in the first place?
kuma2000 Champion Author Honolulu Posts:3,218 Points:673,175 Joined:Jun 2011	Message Posted: Oct 22, 2012 12:37:46 PM Ignore kuma2000 Report Abuse no such thing for us
dan30thz28 Champion Author New Jersey Posts:5,908 Points:1,981,040 Joined:Feb 2006	Message Posted: Oct 22, 2012 12:37:07 PM Ignore dan30thz28 Report Abuse Good news, but only for a short while.
smoketown Champion Author Cincinnati Posts:6,226 Points:1,380,900 Joined:Feb 2008	Message Posted: Oct 22, 2012 12:36:38 PM Ignore smoketown Report Abuse Supply and demand is B.S.
stueyAZ Sophomore Author Phoenix Posts:212 Points:23,730 Joined:Nov 2011	Message Posted: Oct 22, 2012 12:35:19 PM Ignore stueyAZ Report Abuse tru dat
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Oct 22, 2012 12:31:41 PM Ignore grammamNV Report Abuse needs to keep going down - A LOT MORE!!!
Sneakers55 Champion Author Houston Posts:51,279 Points:2,141,975 Joined:Nov 2005	Message Posted: Oct 22, 2012 12:27:39 PM Ignore Sneakers55 Report Abuse On Oct 22, 2012 11:17:09 AM, shiuanshiuan wrote: >There's no decline in Hawaii. Everything is expensive in Hawaii with the exception of pineapple. Everything but pineapple has to be hauled there on a slow boat. And to add insult to injury, most of the electricity in Hawaii is made by burning hauled-in oil.
t1mberwolff Sophomore Author Eugene Posts:207 Points:190,135 Joined:Apr 2012	Message Posted: Oct 22, 2012 12:25:14 PM Ignore t1mberwolff Report Abuse Hopefully the market can find a balance over the next season...
REVLAW Champion Author San Antonio Posts:10,430 Points:2,006,270 Joined:Jul 2007	Message Posted: Oct 22, 2012 12:25:08 PM Ignore REVLAW Report Abuse We see the drop (very slow and small) here, but my daughter paid $3.75 per gallon in Kingman, AZ yesterday and in the same "ballpark" in Phoenix. And, forget California. Being liberal is not a valid excuse to "rape the populace". Ridiculous.
bridgerunner Champion Author Virginia Posts:4,782 Points:1,005,860 Joined:Jul 2009	Message Posted: Oct 22, 2012 12:23:08 PM Ignore bridgerunner Report Abuse Going down here....slowly.
bkplenge Champion Author Tallahassee Posts:1,618 Points:121,725 Joined:Sep 2005	Message Posted: Oct 22, 2012 12:22:48 PM Ignore bkplenge Report Abuse Supply and demand have not mattered for several years, so why are they mattering now?
OldBullhead Veteran Author New Mexico Posts:381 Points:1,077,920 Joined:Nov 2008	Message Posted: Oct 22, 2012 12:21:58 PM Ignore OldBullhead Report Abuse In our southern NM city, we saw <$3.00 yesterday at a couple of stations!
07skydriver Champion Author Ohio Posts:3,254 Points:981,360 Joined:Feb 2009	Message Posted: Oct 22, 2012 12:20:06 PM Ignore 07skydriver Report Abuse Just stay home.
majorben Champion Author New York Posts:7,667 Points:1,561,870 Joined:Nov 2008	Message Posted: Oct 22, 2012 12:19:10 PM Ignore majorben Report Abuse demand has been low for quite awhile now... what else changed??? blend to winter gas???
bcressy Sophomore Author Boston Posts:112 Points:475,885 Joined:Dec 2007	Message Posted: Oct 22, 2012 12:18:39 PM Ignore bcressy Report Abuse Less driving = less demand = lower price. The less we all drive the less we could also pay!
73amx Champion Author Allentown Posts:1,163 Points:457,815 Joined:Sep 2011	Message Posted: Oct 22, 2012 12:17:18 PM Ignore 73amx Report Abuse saw some decline in NE Pa. but seems to have slowed
shiuanshiuan Rookie Author Honolulu Posts:93 Points:389,890 Joined:Apr 2011	Message Posted: Oct 22, 2012 12:17:09 PM Ignore shiuanshiuan Report Abuse There's no decline in Hawaii..
Sneakers55 Champion Author Houston Posts:51,279 Points:2,141,975 Joined:Nov 2005	Message Posted: Oct 22, 2012 12:17:00 PM Ignore Sneakers55 Report Abuse On Oct 22, 2012 11:02:16 AM, LoadToad wrote: >Some gas prices are dropping but diesel is holding >steady. Now California uses BOUTIQUE gas so it wont >drop by much. I don't understand why the Californians don't vote with their feet and move to somewhere where the Earth remains steady, the government makes sense, and the cost of living is low. When the only growth industry in California is movers taking people out-of-state, maybe the tone-deaf souls in Sacramento will figure out their policies are downright toxic to making California a decent place to work and live. [Edited by: Sneakers55 at 10/22/2012 12:17:43 PM EST]
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Oct 22, 2012 12:16:42 PM Ignore LostToo Report Abuse I don't know about all of that but the prices here are going down a lot.