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  LiveWire / Teen Forums / Travel, Vacation & Roadtrips / Viewing Topic

Gas Prices at a new low
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Replies: 20Last Post Oct. 23, 2008 1:52pm by fleur de saison4
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( lwfan2008 )


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I am luvin the drop in gas prices but I am wondering why the sudden drastic drop and are they expected to go back up, if so, what would make them go back up?

5:22 pm on Oct. 21, 2008 | Joined: Sep. 2008 | Days Active: 37
Join to learn more about lwfan2008 Georgia, United States | Female | Posts: 52 | Points: 422
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Dylan6405


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I saw it at $2.39 yesterday

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5:23 pm on Oct. 21, 2008 | Joined: July 2007 | Days Active: 411
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look over here


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I got it for $2.35 today

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stl man


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they do it on purpose. that's what i think

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5:23 pm on Oct. 21, 2008 | Joined: Sep. 2008 | Days Active: 146
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XxBrandonxX


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no idea but i think they are suppose to go up?

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XxBrandonxX

5:23 pm on Oct. 21, 2008 | Joined: Aug. 2007 | Days Active: 61
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hopeguz3


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yea i been wonderin' too

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omfgitsdavegrohl


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saweet!

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Aliboo


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oil price is dropping because of economy

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5:24 pm on Oct. 21, 2008 | Joined: Oct. 2007 | Days Active: 414
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DarkRose2010


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This is right before the travel season... Thanksgiving. It'll probably go wayyyy up right before Thanksgiving.

5:24 pm on Oct. 21, 2008 | Joined: Oct. 2008 | Days Active: 2
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bugiscoolhsm


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i got it for $2.09

5:25 pm on Oct. 21, 2008 | Joined: Oct. 2008 | Days Active: 2
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kristina16


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I Heard that this happens everytime there's an election. Im guessing its cause they use money on all their freakin ads and come-back comercials >.< hahhaha

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( lwfan2008 )


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Quote: from kristina16 at 5:25 pm on Oct. 21, 2008

I Heard that this happens everytime there's an election. Im guessing its cause they use money on all their freakin ads and come-back comercials >.< hahhaha
makes sense. i was also thinking of supply and demand.

5:27 pm on Oct. 21, 2008 | Joined: Sep. 2008 | Days Active: 37
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taraxgoesxboom


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Why the sudden drop?
Because the economy went to crap for a while and it's still a bit iffy, they want to get their money out of the gas they have in case it all fails.

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panicxparadox


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Quote: from bugiscoolhsm at 8:25 pm on Oct. 21, 2008

i got it for $2.09

DAMN! Where?
It's like $2.80 here

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shadowpool


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There are a bunch of reasons. The dollar is gaining strength because banks are hoarding treasury bonds, thus prices are going down. There has also been a drop in demand. Check out the drop on the Dow Transportation Index.

A few things could happen to raise gas prices.  The banks could sell their treasury bonds or increase the money supply any other way, or OPEC could cut oil production.  I think both scenarios are likely in the near future so it might be a good idea to buy your gas while it's still cheap.  Even if we go all the way into a deflationary collapse, the oil companies don't like prices to be this low and they will cut production.

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5:34 pm on Oct. 21, 2008 | Joined: Nov. 2005 | Days Active: 899
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