View Poll Results: What is the lowest price gas will drop to?
$1.50 (almost there)
52
65.00%
$1.25
20
25.00%
$1.00
4
5.00%
$Below $1.00
4
5.00%
Voters: 80. You may not vote on this poll
How Low Will Gas Go?
. I was reading an article on CNN this morning speculating that gas prices may be already at or near the bottom
.
$1.48 9/10 at all three of the big truck stops at the Beaverdam, Ohio exit this morning. Georgia should have some low prices, too, as their gas tax is very low. I just wish the price of diesel would go down. -stirs pot- Personally, I'd rather have $3.00/gal gas than $3.00/gal diesel. Ask me why. 
Member
Joined: Jul 2008
Posts: 150
From: United States
It'll probably go down a little below $1.50 per gallon...
On a side note, I think it's sad that people are going out more with their big trucks and SUVs more when the prices get low. It's adding more to the problem and hurting progression...
On a side note, I think it's sad that people are going out more with their big trucks and SUVs more when the prices get low. It's adding more to the problem and hurting progression...
Member
Joined: Oct 2008
Posts: 79
From: Kansas City, KS
Last week in Kansas City it was 1.47 but I didn't fill up until Sunday and therefore had to pay the whopping fee of 1.55/gal in Lawrence. 
I think the scariest part is that SUV sales are rising--are people that shortsighted?
I think the scariest part is that SUV sales are rising--are people that shortsighted?
Member
Joined: Oct 2008
Posts: 282
From: Atlanter, JoJa
..yea, and now all the SUVs, minivans and monster trucks are back in full force like they own the roads again. I liked the feeling of being looked at in envy because they knew my car got double their mpg.
This may sound weird, but I kinda liked it when it was $4/gallon. Paying $35 a week for gas really didn't bother me because I knew the bigger vehicles were paying close to $100.
This may sound weird, but I kinda liked it when it was $4/gallon. Paying $35 a week for gas really didn't bother me because I knew the bigger vehicles were paying close to $100.
Member
Joined: Jan 2008
Posts: 61
From: Oakland, CA USA
I've got data for the price of a gallon of gas dating back to early 1979 to which I've applied the following analysis just for fun.
(1) Adjust the price per gallon by the Consumer Price Index (CPI) which excludes the price of gas. This gives some measure of the price of a gallon of gas while taking into account inflation. When this is done, the peak prices we saw in summer 2008 (about $1.50 adjusted) were just a bit higher than the peak prices we saw in early 1981 (about $1.25 adjusted).
(2) I fit the CPI adjusted to the equation which describes a driven harmonic oscillator (with several drivers).
In general, this way I can fit the trends of the price of a gallon of gas from 1979 to the present. The fit doesn't get the oscillations over the last three years too well (the size of the oscillations over the past four years is unprecedented in the data I've looked at), but it gets the average trend correct. For dates before 2006, the fit does pretty well with some notable exceptions, e.g. in 1990 during the first Gulf War.
The fit can be extended into the future and it shows that 2009 will be very similar to 2008. But in 2010 the price of a gallon of gas starts to decline and, other than the seasonal oscillation, drops continuously and eventually goes under $1.00 per gallon in late 2012.
I'll try to get some plots up when I get a chance.
Of course, YMMV.
(1) Adjust the price per gallon by the Consumer Price Index (CPI) which excludes the price of gas. This gives some measure of the price of a gallon of gas while taking into account inflation. When this is done, the peak prices we saw in summer 2008 (about $1.50 adjusted) were just a bit higher than the peak prices we saw in early 1981 (about $1.25 adjusted).
(2) I fit the CPI adjusted to the equation which describes a driven harmonic oscillator (with several drivers).
In general, this way I can fit the trends of the price of a gallon of gas from 1979 to the present. The fit doesn't get the oscillations over the last three years too well (the size of the oscillations over the past four years is unprecedented in the data I've looked at), but it gets the average trend correct. For dates before 2006, the fit does pretty well with some notable exceptions, e.g. in 1990 during the first Gulf War.
The fit can be extended into the future and it shows that 2009 will be very similar to 2008. But in 2010 the price of a gallon of gas starts to decline and, other than the seasonal oscillation, drops continuously and eventually goes under $1.00 per gallon in late 2012.
I'll try to get some plots up when I get a chance.
Of course, YMMV.
Last edited by JBElliott; Nov 25, 2008 at 06:44 PM.
Thread Starter
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Member
Joined: Sep 2006
Posts: 337
From: Denton, Texas
Thread Starter
|
Member
Joined: Sep 2006
Posts: 337
From: Denton, Texas
The fit can be extended into the future and it shows that 2009 will be very similar to 2008. But in 2010 the price of a gallon of gas starts to decline and, other than the seasonal oscillation, drops continuously and eventually goes under $1.00 per gallon in late 2012.
I'll try to get some plots up when I get a chance.
Of course, YMMV.
I'll try to get some plots up when I get a chance.
Of course, YMMV.
Okay, fair enough.
What would this be in 2012 dollars?
