Duckjake

Austin area went from $3.05 to $2.44 in about 10 days. That's down around $1.50 a gallon from the high this summer.

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Hollywood

2.79 at the corner Chevron but someone at work told me they got 2.65 near Johnson Ranch.

CardFan67

Another .05 cents down from the refinery today...

As all of these changes occur in pricing the way it works for us is that retailers (where you buy your gas) by contract have the prices changed from us on the 1st and the 15th. So day to day refinery prices while affecting our costs, don't hit the retailer until either the 1st or 15th and that all depends on the quantities that they sell and keep on hand. Some stations recieve multiple deliveries per week and others only take deliveries every other week or sometimes once per month.

For us, the difference in time for the increase to hit the retailer is exactly the same as the decrease. Now the retailer may opt to hold his price or cut the difference in an attempt to recover some of his losses. As most of you know the big money in gas and oil refined products are typically not made at the station or the distributor anyway...

A gas stations smallest profit item is typically fuels. That is why you see so many multiple service, service stations now (including the 'all in one' fast food - gas station combo).

Duckjake

Down to $1.97 here in Austin today.

That is as low as it has been in a long time. That is a savings of around $40 on a 20 gallon fill up.

Glad I didn't spend a lot of money on a hybrid.

Traffic is much heavier than what it was a month ago by the way.

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CardFan67

And... prices are still dropping from refinery postings... I expect it to level or start to go up any day now... I am interested to see how fast they go up at the pump versus how they have continued to go down with the postings... Down usually takes a full 30 days to hit the station...

Duckjake

Not that I've seen. Prices have been dropping 3-5 cents overnight for weeks now.

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5-11 with 'em. 5-11 without 'em.

CardFan67

I get daily postings from the refineries, they were dropping by 6 and 7 cents... they are now dropping by percentages of a cent... It is going to tail off... Crude usage goes up as the heating requirements go up. I will be pretty surprised if they don't stagnate a bit and the start to climb a tad as the average nationwide average temperatures start to decline.

Russ Smith

I paid $2.09 in Tracy yesterday which is amazing from 4.50 not all that long ago. I agree it's going to shift soon, it almost has to it's been so dramatic a drop.

The only issue is with the economy so bad, how much can demand really go up?

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CardFan67

Because people have to stay warm and don't want their family to die in the really cold portions of the country...

Winters are typically the high spot on energy consumption and pricing... 2008 was totally abnormal.