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Sandy Helps Push Gasoline Prices Lower

CNBC -- Gasoline prices are likely to keep falling, after Super Storm Sandy shut down highways and air travel across the East Coast. "We're not going to see prices move higher because of this storm. We're going to see prices move lower," said Tom Kloza, oil analyst at OPIS. RBOB gasoline futures were down a half percent, at $2.62 per gallon in afternoon trading Tuesday.

Gasoline at the pump continued to decline, with the national average for unleaded regular $3.53, a penny lower than Monday and 11 cents cheaper than a week ago.

Kloza and others said gasoline could move higher in the short term but the dynamic favors lower prices.

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Submitted Oct 31, 2012 By: Bicycle_Rider

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LetemEatCake Champion Author Oklahoma City Posts:5,596 Points:1,204,730 Joined:Mar 2008	Message Posted: Nov 1, 2012 6:13:27 PM Ignore LetemEatCake Report Abuse Still going down here. $3.00 and less.
driver169 Champion Author New York Posts:12,135 Points:2,560,850 Joined:Jan 2006	Message Posted: Nov 1, 2012 8:02:02 AM Ignore driver169 Report Abuse goldentone: whatever
kyjlh Champion Author Kentucky Posts:1,617 Points:651,660 Joined:Feb 2005	Message Posted: Nov 1, 2012 6:12:16 AM Ignore kyjlh Report Abuse keep going down. need to get back to where it was 4 yrs ago. $1.84
jethro5000 Champion Author Kentucky Posts:1,877 Points:391,235 Joined:Jun 2005	Message Posted: Nov 1, 2012 4:58:46 AM Ignore jethro5000 Report Abuse ...
goldentoe Champion Author Oregon Posts:5,920 Points:1,361,335 Joined:Mar 2007	Message Posted: Oct 31, 2012 11:47:42 PM Ignore goldentoe Report Abuse Looks like I've my standing on the 30 Day Rank list has gone up about 1000 places in the last few days. I suppose because of all of the power outages or should I thank President Obama for that also? Let's see, what did Mitt Witt say in the first debate? "...making sure that those people who are less fortunate and can’t care for themselves are cared by -- by one another." ... "And what we’re seeing right now is, in my view, a -- a trickle-down government approach which has government thinking it can do a better job than free people pursuing their dreams. And it’s not working." So Breezy Point, NY, according to Mitt Witt, you are on your own. Your house burned down? Go ask your neighbor for help. Don't expect Brownie to do a heckofa job this time!
bston Champion Author Oklahoma City Posts:1,815 Points:641,300 Joined:Mar 2011	Message Posted: Oct 31, 2012 10:38:13 PM Ignore bston Report Abuse Prices have increased this week, & doubt they'll go back down for a long time!
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Oct 31, 2012 10:16:16 PM Ignore pastorpaulcg Report Abuse Are we supposed to believe that the election has nothing to do with lowering prices?
dylan126 Champion Author Cleveland Posts:4,425 Points:594,895 Joined:Sep 2011	Message Posted: Oct 31, 2012 10:11:07 PM Ignore dylan126 Report Abuse I do not believe it is Sandy that is pushing prices downward.
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Oct 31, 2012 10:07:41 PM Ignore OGW Report Abuse Not coming down here but are going up!
boatfloyd Champion Author Jacksonville Posts:1,718 Points:387,975 Joined:Mar 2012	Message Posted: Oct 31, 2012 10:03:55 PM Ignore boatfloyd Report Abuse Thank you Sandy.
gwill76 Sophomore Author Orlando Posts:169 Points:1,356,540 Joined:May 2008	Message Posted: Oct 31, 2012 10:03:53 PM Ignore gwill76 Report Abuse Gas prices are like that rollercoaster now in the ocean...UNPREDICTABLE
rahcat Champion Author Grand Rapids Posts:2,468 Points:662,200 Joined:Jan 2010	Message Posted: Oct 31, 2012 10:03:07 PM Ignore rahcat Report Abuse Time will tell.
maxcap59 Champion Author Texas Posts:2,769 Points:593,245 Joined:Apr 2011	Message Posted: Oct 31, 2012 10:01:42 PM Ignore maxcap59 Report Abuse Went up 10-15 cents here today, and we're nowhere near the path of Sandy
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Oct 31, 2012 10:00:23 PM Ignore OGW Report Abuse Not in our area. After Sandy slowly moved on, prices started to crept up and there were shortages at some terminals as some stations have not received their delivery yet.
WIWalt Champion Author Wisconsin Posts:1,726 Points:415,545 Joined:Mar 2012	Message Posted: Oct 31, 2012 9:55:44 PM Ignore WIWalt Report Abuse good
pbear316 Champion Author Akron Posts:2,030 Points:677,140 Joined:Apr 2011	Message Posted: Oct 31, 2012 9:55:22 PM Ignore pbear316 Report Abuse Ok
Gas4Gore Champion Author Detroit Posts:2,416 Points:422,900 Joined:Jan 2010	Message Posted: Oct 31, 2012 9:53:53 PM Ignore Gas4Gore Report Abuse Good
Aviator_Rob Champion Author New York Posts:3,795 Points:413,015 Joined:Mar 2012	Message Posted: Oct 31, 2012 9:51:41 PM Ignore Aviator_Rob Report Abuse Gotta figure that refineries near the Gulf Coast are used to hurricanes and have more back-ups, @megadiesellv. Sandy was a "once in a century" storm but those seem to be happening a lot more nowadays. Is climate change really a hoax?
clermont40miles Champion Author Cincinnati Posts:10,569 Points:1,771,920 Joined:Apr 2008	Message Posted: Oct 31, 2012 9:50:11 PM Ignore clermont40miles Report Abuse Lower is good. Now pass the savings along. Up like a rocket. Down like a feather. Gas price spike behavior.
Gas Thirsty Champion Author Los Angeles Posts:4,877 Points:3,227,695 Joined:Mar 2003	Message Posted: Oct 31, 2012 9:45:07 PM Ignore Gas Thirsty Report Abuse Let's hope this stays.
must87searcher Champion Author Maryland Posts:8,980 Points:1,779,660 Joined:Apr 2008	Message Posted: Oct 31, 2012 9:43:24 PM Ignore must87searcher Report Abuse I have seen the price of gas fall at a couple of stations in this area, which was hit by part of Sandy. Hope it just keeps going down.
GRUMPY55 Champion Author California Posts:1,629 Points:423,500 Joined:Oct 2011	Message Posted: Oct 31, 2012 9:43:23 PM Ignore GRUMPY55 Report Abuse We will see?
mageetp Champion Author British Columbia Posts:3,205 Points:625,735 Joined:Aug 2011	Message Posted: Oct 31, 2012 9:39:52 PM Ignore mageetp Report Abuse We will see how this developes over the next few days.
naspa Champion Author Cleveland Posts:1,271 Points:352,150 Joined:Jan 2012	Message Posted: Oct 31, 2012 9:39:19 PM Ignore naspa Report Abuse The article before just said prices are going up! Which is it. GB is confusing me as always
SavALot Champion Author Virginia Beach Posts:8,469 Points:1,710,860 Joined:Apr 2005	Message Posted: Oct 31, 2012 9:38:14 PM Ignore SavALot Report Abuse This is actually a reverse surprise
whaboush Champion Author Richmond Posts:1,233 Points:731,410 Joined:Nov 2010	Message Posted: Oct 31, 2012 9:36:06 PM Ignore whaboush Report Abuse Lower??!! Not in NJ or NY.
ican2step Champion Author Pittsburgh Posts:1,681 Points:426,650 Joined:Feb 2012	Message Posted: Oct 31, 2012 9:29:55 PM Ignore ican2step Report Abuse I'll take it
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Oct 31, 2012 9:27:00 PM Ignore abcdMA Report Abuse with reduce demand comes reduced prices
preacherjohn Champion Author Modesto Posts:3,986 Points:1,918,805 Joined:May 2006	Message Posted: Oct 31, 2012 9:25:35 PM Ignore preacherjohn Report Abuse CA's not that low..
Greenbuck97 Champion Author Tennessee Posts:5,919 Points:818,595 Joined:Mar 2008	Message Posted: Oct 31, 2012 9:23:24 PM Ignore Greenbuck97 Report Abuse yeah, good news for a change. Sorry for friends and faimly in NE US. Glad something good could come out of it. 97
GAS1251 Champion Author Texas Posts:5,148 Points:1,626,230 Joined:Jun 2008	Message Posted: Oct 31, 2012 9:23:15 PM Ignore GAS1251 Report Abuse Tell that to the local Philips 66 dealers that went up a dime.
BizBombe Rookie Author Baltimore Posts:90 Points:190,750 Joined:Sep 2012	Message Posted: Oct 31, 2012 9:18:58 PM Ignore BizBombe Report Abuse good news there
Is246 Champion Author Albuquerque Posts:1,013 Points:426,715 Joined:Apr 2011	Message Posted: Oct 31, 2012 9:17:42 PM Ignore Is246 Report Abuse Good
dasimon All-Star Author Florida Posts:556 Points:573,050 Joined:Mar 2011	Message Posted: Oct 31, 2012 9:17:38 PM Ignore dasimon Report Abuse Hnmm conflicting information.
drz614 Champion Author Harrisburg Posts:2,300 Points:597,690 Joined:Aug 2011	Message Posted: Oct 31, 2012 9:15:35 PM Ignore drz614 Report Abuse futures were at 2.62? seems kinda low
DustyHorse Champion Author Virginia Posts:6,085 Points:1,391,805 Joined:Oct 2008	Message Posted: Oct 31, 2012 9:14:40 PM Ignore DustyHorse Report Abuse A silver lining?
wayoung56 Champion Author Alabama Posts:2,800 Points:818,335 Joined:Oct 2006	Message Posted: Oct 31, 2012 9:13:02 PM Ignore wayoung56 Report Abuse Hmmmmmm...
Gary65 Champion Author Toronto Posts:1,703 Points:783,845 Joined:Jan 2009	Message Posted: Oct 31, 2012 9:12:04 PM Ignore Gary65 Report Abuse That's a switch.
36IHBinder Champion Author Illinois Posts:2,953 Points:642,115 Joined:Jun 2011	Message Posted: Oct 31, 2012 9:11:12 PM Ignore 36IHBinder Report Abuse double edge sword
investmentdr Champion Author Cleveland Posts:4,024 Points:1,454,825 Joined:Sep 2008	Message Posted: Oct 31, 2012 9:10:25 PM Ignore investmentdr Report Abuse I'm confused; thought gas prices only went thru the moon
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,130 Joined:Oct 2008	Message Posted: Oct 31, 2012 9:10:09 PM Ignore LCSTEELERBOB Report Abuse well maybe something good will come out of sandy
chillyman3 Champion Author Illinois Posts:1,355 Points:423,640 Joined:Jan 2012	Message Posted: Oct 31, 2012 9:07:34 PM Ignore chillyman3 Report Abuse If they raise prices it would be price gouging.
BREW9 All-Star Author Tampa Posts:881 Points:2,911,980 Joined:Jun 2004	Message Posted: Oct 31, 2012 9:05:02 PM Ignore BREW9 Report Abuse good
txkrb Champion Author Texas Posts:1,560 Points:638,705 Joined:May 2011	Message Posted: Oct 31, 2012 9:04:06 PM Ignore txkrb Report Abuse Actually the wholesale price of gas was up over 2 cents a gallon at times today and settled 1.48 cents up per CNN
jrsva Champion Author Virginia Posts:9,852 Points:1,612,250 Joined:Jan 2006	Message Posted: Oct 31, 2012 9:00:23 PM Ignore jrsva Report Abuse “and we need to drill now” Johnny one-note Southrob, do you ever post anything else? The same thing 5x per day whether it is relevant or not (generally not).
CityCouponer All-Star Author New Orleans Posts:933 Points:201,130 Joined:Aug 2012	Message Posted: Oct 31, 2012 9:00:12 PM Ignore CityCouponer Report Abuse I'll believe it when I see it.
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Oct 31, 2012 8:57:21 PM Ignore mstearno Report Abuse this is a crap article if prices were up they'd blame sandy
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Oct 31, 2012 8:55:04 PM Ignore Blue48 Report Abuse A SILVER LINING?
southrob Champion Author Tucson Posts:3,595 Points:687,200 Joined:Mar 2011	Message Posted: Oct 31, 2012 8:53:55 PM Ignore southrob Report Abuse and we need to drill now
kiosk12y Champion Author Tulsa Posts:3,614 Points:681,210 Joined:Mar 2011	Message Posted: Oct 31, 2012 8:53:53 PM Ignore kiosk12y Report Abuse up 10 cent @ my fav station now $3.21 100% no ethanol...eth blend up about 13 cent from 2.97 to 3.09...