Author Topic: Gas under 1 (Read 899 times)

Binechi · « **on:** January 18, 2016, 10:23:06 AM »

http://www.fox5ny.com/news/76795410-story

(WJBK) - Gasbuddy.com says several stations in Houghton Lake, Michigan have lowered their prices under $1 per gallon, in what appears to be a price war.

According to GasBuddy it appears these stations are currently the first stations in the country to see prices under $1 per gallon in years. As the situation unfolds, it's possible these stations re-raise prices back over $1/gallon.

MaterDominici · « **Reply #1 on:** January 18, 2016, 01:50:18 PM »

I saw a local news story several days ago that gas in Houston could be found for $.99. We're still at about a dollar and a half here.

Peter15and1 · « **Reply #2 on:** January 18, 2016, 02:00:50 PM »

I've seen these price wars before between gas stations, although never with this low of prices. I was always confused as to why gas stations would lower their prices to a level where they would be losing a substantial amount of money on gas, but then I read an interesting article. Apparently, the business model of gas stations is not to make money on the sale of gasoline. They just try to break even on that. They make their money when people come into the stores and purchase items there, particularly tobacco products.

songbird · « **Reply #3 on:** January 18, 2016, 02:06:54 PM »

Tobacco taxes help pay for school based and linked clinics. abortion and contraceptives and etc.

Binechi · « **Reply #4 on:** January 18, 2016, 04:41:49 PM »

Quote from: MaterDominici

I saw a local news story several days ago that gas in Houston could be found for $.99. We're still at about a dollar and a half here.

Binechi · « **Reply #5 on:** January 18, 2016, 04:43:27 PM »

Here in NY,, we just broke two dollars a gal. 1.97 Some difference Hey!

Neil Obstat · « **Reply #6 on:** January 18, 2016, 05:30:23 PM »

In L.A., many stations are over $3, and only a few are less than $2.65 -- I guess this means prices will be coming down soon here.........

songbird · « **Reply #7 on:** January 18, 2016, 05:41:26 PM »

Phoenix I saw 1.77.

Binechi · « **Reply #8 on:** January 18, 2016, 06:47:38 PM »

How about 46cents .469 per gallon Michigan

During the last three days, the prices dropped below a buck per gallon, falling as low as 46 cents at Sunrise Marathon. Meanwhile, the Beacon & Bridge gas station was as low as 47 cents, said employees of each station in interviews with CNBC.

A nearby Citgo says its prices slumped to 95 cents a gallon.

Read More › The coming bull market for oil, but not for stocks

There have been long lines at the stations for most of the weekend, according to the three stations, with police officers directing traffic in the area due to the congestion.

Neil Obstat · « **Reply #9 on:** January 18, 2016, 11:12:56 PM »

That's incredible. I haven't seen prices under 50c since 1968.

.

ranlare · « **Reply #10 on:** January 19, 2016, 09:42:12 AM »

When I lived in San Diego, I remember the price once being $4.99 per gal.

With Iran having many of its sanctions lifted, it will increase the glut of oil, world-wide, even more.

By the year 2020, Iran hopes to offer 185 Billion USD worth of oil contracts to foreign investor/companies.

The US has not been involved with Iranian petrol business for more than 35 years.

Neil Obstat · « **Reply #11 on:** January 19, 2016, 10:08:05 AM »

Quote from: Binechi

How about 46cents .469 per gallon Michigan

During the last three days, the prices dropped below a buck per gallon, falling as low as 46 cents at Sunrise Marathon. Meanwhile, the Beacon & Bridge gas station was as low as 47 cents, said employees of each station in interviews with CNBC.

There have been long lines at the stations for most of the weekend, according to the three stations, with police officers directing traffic in the area due to the congestion.

Does this mean the lines are LONGER at stations with $0.469 gas and shorter at stations with $0.479 gas?

That would be pretty funny, for a penny to make that much difference.

In L.A. stations with gas for $3.109 have customers all day long. (That's six times the price in MI.)

.