Drivers could see gas below $3 a gallon soon. Thanks Barack

[kidrocks]

Great news for Americans, bad news for Republicans.






Drivers could see gas below $3 a gallon soon - NBC News.com

Good news for consumers: gasoline prices are falling fast as oil prices plummet.

RBOB gasoline futures — which are traded on the New York Mercantile Exchange — plunged to $2.57 a gallon Wednesday morning, the lowest price since November 2012. Gasoline futures, which have slid 5 percent in the past week alone, have an even greater impact on prices at the pump than crude oil prices.

"It's fourth-quarter demand. There's always less demand for gasoline at the end of the year and that's what you're seeing. Plus there's plenty of supply of gasoline — and oil," said trader Anthony Grisanti of GRZ Energy and a CNBC contributor.

The national average for retail gasoline is $3.34 a gallon, down 4 percent, or 13 cents, from a month ago, according to AAA. In 10 states, prices are below $3.25 a gallon on average — and many drivers in Oklahoma, Missouri and Texas are paying less than $3 a gallon, according to GasBuddy.com.


"Drivers in nearly half the country could soon find gasoline prices at the pump below $3 a gallon," says Tom Kloza, chief oil analyst at GasBuddy.com. "This is the other shoe dropping. Since September, we saw gasoline prices lose ground even though oil prices were congesting. Now that crude oil prices are dropping, we could soon see retail gasoline prices at the lowest prices since the Arab spring in February 2011— below $3.20 a gallon for the national average."

 

[daveman]

Why thank Obama? He had nothing to do with it.

 

[CrusaderFrank]

Obama Fluffers need any bit of good news.

 

[JakeStarkey]

daveman is right and Frank is being pissy.

 

[daveman]

Obama Fluffers need any bit of good news.

daveman is right and Frank is being pissy.

Speak of the devil and up he pops...

 

[Hoffstra]

If gasoline drops belong $3 a gallon in my area, Obama will become very very popular.

 

[HenryBHough]

Yeah, $3 in what, confederate dollars?

How about the price in grossly inflated Obamabucks?

 

[tinydancer]

Whats with this legacy shit?

 

[Hoffstra]

yup, its below $3.49 in my area

sweet!!

 

[Intense]

Why thank Obama? He had nothing to do with it.

He had everything to do with artificially inflated gas prices. Too busy getting thee Fed's tax cut to give a damn.

 

[hjmick]

If gasoline drops belong $3 a gallon in my area, Obama will become very very popular.

In my area, people are smart enough to know Obama has nothing to do with the price of gas...

 

[CrusaderFrank]

Blowing off the Saudi as a way to lower gas prices...genius!

 

[Intense]

Blowing off the Saudi as a way to lower gas prices...genius!

The future Caliphate is on a mission.

 

[blackhawk]

Gas dropped to $2.97 a gallon here for about a week then it jumped up to $3.15 a gallon and is currently at $3.08 a gallon.

 

[Sarah G]

Great news for Americans, bad news for Republicans.






Drivers could see gas below $3 a gallon soon - NBC News.com

Good news for consumers: gasoline prices are falling fast as oil prices plummet.

RBOB gasoline futures — which are traded on the New York Mercantile Exchange — plunged to $2.57 a gallon Wednesday morning, the lowest price since November 2012. Gasoline futures, which have slid 5 percent in the past week alone, have an even greater impact on prices at the pump than crude oil prices.

"It's fourth-quarter demand. There's always less demand for gasoline at the end of the year and that's what you're seeing. Plus there's plenty of supply of gasoline — and oil," said trader Anthony Grisanti of GRZ Energy and a CNBC contributor.

The national average for retail gasoline is $3.34 a gallon, down 4 percent, or 13 cents, from a month ago, according to AAA. In 10 states, prices are below $3.25 a gallon on average — and many drivers in Oklahoma, Missouri and Texas are paying less than $3 a gallon, according to GasBuddy.com.


"Drivers in nearly half the country could soon find gasoline prices at the pump below $3 a gallon," says Tom Kloza, chief oil analyst at GasBuddy.com. "This is the other shoe dropping. Since September, we saw gasoline prices lose ground even though oil prices were congesting. Now that crude oil prices are dropping, we could soon see retail gasoline prices at the lowest prices since the Arab spring in February 2011— below $3.20 a gallon for the national average."

Yeah, thanks Barry.

 

[Sarah G]

If gasoline drops belong $3 a gallon in my area, Obama will become very very popular.

He's already popular here in Ohio. Kasich is too since he saw the light and finally took the expanded medicaid. Lower gas prices are just icing on the cake for Obama.

 

[blackhawk]

If Presidents had any control over gas prices this might actually mean something. Just out of curiosity if gas prices rise again as they usually do during the holiday season will you blame Obama or the holiday season?

 

[Jroc]

yup, its below $3.49 in my area

sweet!!

it was $1.89 when he came in

 

[kidrocks]

If Presidents had any control over gas prices this might actually mean something. Just out of curiosity if gas prices rise again as they usually do during the holiday season will you blame Obama or the holiday season?

If you don't want a sarcastic answer then don't ask a stupid question.

 

[Chris]

Obama wins again.