Free Falling Gas Prices
Price of Gasoline Reaches New 44-Month Low
(WASHINGTON, October 20, 2014) With oil prices sharply lower over the last several weeks, the national average pump price has followed suit and has now dropped on 25 consecutive days.
This tumble has sent the national average to a low not seen since early 2011 and increased the likelihood that the national price at the pump could test the $3.00 per gallon mark for the first time since 2010.
Today’s national average price for regular unleaded gasoline is $3.10 per gallon, representing the lowest price since February 1, 2011. The national average has fallen by a dime since one week ago and is 25 cents less than both one month and one year ago. This year-over-year gap has reached its widest mark since March.
Drivers are savings an average of 60 cents per gallon compared to the 2014 high of $3.70 (April 28), and pump prices have tumbled 10 percent since Labor Day when the national average registered $3.44 per gallon. For every penny that the national average falls (were the lower price sustained over the course of a year) more than one billion dollars per year in additional consumer spending is estimated to be freed up.
Motorists in 17 states now pay an average price below $3.00 per gallon. The nation’s 10 most expensive markets are composed primarily of states on the West Coast and in the Northeast led by: Hawaii ($4.08), Alaska ($3.80), California ($3.50) and New York ($3.45). On the other end of the spectrum, consumers in Missouri are paying $2.77 per gallon for regular unleaded gasoline, a low unseen in the state since 2010.
Compared to one week ago, the average price at the pump is down in 48 states and Washington, D.C. Motorists in 23 states and Washington, D.C. are saving a dime or more per gallon week-over-week with the largest discounts in Kentucky (-17 cents), Indiana (-16 cents) and Georgia (-14 cents). There are two states where the price has ticked upward over this same period: Ohio (+3 cents) and Michigan (fractions of a penny).
The average price paid by drivers to refuel their vehicles is down in every state and Washington, D.C. both month-over-month and year-over-year. In comparison to this same date last month, consumers in every state and Washington, D.C. are saving 15 cents per gallon or more at the pump, and of this total there are 24 states where the price has fallen by a quarter or more per gallon. The Western states of Washington and Oregon (both down 40 cents) are registering the largest discounts over this period, followed by Kentucky and Colorado (down 39 cents). Year-over-year, 47 states and Washington D.C. are saving a dime or more per gallon at the pump and 25 states are registering discounts of a quarter or more led by Kentucky (-42 cents), Indiana (-40 cents) and Delaware (-36 cents).
Geopolitical tensions in Iraq continue to be viewed by market watchers as posing a minimal threat to the region’s oil production. Sentiment for crude oil prices has remained bearish and it is speculated that the Organization of Petroleum Exporting Countries (OPEC) will continue to protect its market share by sustaining current levels of production rather than cutting output to increase the global price of oil. OPEC member countries are responsible for 40 percent of the world’s oil production and are scheduled to convene on November 27 in Vienna to discuss whether to sustain or reduce production. West Texas Intermediate (WTI) closed out last week by settling up a nickel at $82.75 per barrel at the close of formal trading on the NYMEX. WTI was trading slightly lower to open the day today.
What’s behind the sudden drop in US gas prices?
Gas Prices fell an average of .50 cents per gallon with the release of Parts 1 and 2 starting July 6th and August 11 respectively. They are starting to creep up again, so it’s time to put out Part 3 of our Refuel America Off Oil Campaign.
“Here’s to Cleaner, Cheaper Fuels for all American’s and the World! It’s time to Target Big Oil like Big Oil targets US” – REFUEL AMERICA CAMPAIGN PT. 3 – FUTURE FUEL HERE NOW! / THE ALCOHOL WARS: Make Your Own Fuel: How To Make Ethanol(Alcohol) And Methanol(Wood Alcohol) Fuels “History Of Fuel Alcohol”
September 24, 2014: [ REFUEL AMERICA CAMPAIGN PT. 3 – FUTURE FUEL HERE NOW! / THE ALCOHOL WARS ]
The Goal of the True Democracy Party, Re-Fuel America Campaign wasn’t intended at first, to lower gas prices across America. In fact, it was a $4.99 9/10 per gallon Exxon Gas Station sign that Kicked off the Campaign.
In June 2014 gas was pushing $5.00 per gallon in Wash. D.C.. That convinced the T.D.P. Admin that the time was right to kick off the Re-Fuel America Campaign.
With gas pushing $5 dollars per gallon, we knew America was ripe for the change back to the original auto fuel, Alcohol, which could be produced and sold for $2.00-$2.50 per gallon. And thus, this next round in the Alcohol Wars, unbeknown to us, had begun.
Within a couple of days, the Exxon’s price had dropped from $4.99 to $4.87 p/g Super, and continued to drop over the next weeks to rest at $4.54. They are now at $4.25 p/g Super 10/24/14.
Our own Wawa gas prices went from $3.69 for Reg. to $3.27 and then stopped at $3.17. It started to creep back up to $3.24 and we launched Part 3 of the Re-Fuel America Campaign. Within 3 days, their prices started to fall again. They are now at $2.97 per gallon today (10/23/14) in Frederick, MD.
For a short time, the prices were even lower than Ethanol, which was $3.27 per gallon when this started. They had to drop their price, just to barely compete. They are running at about $2.89 per gallon in Frederick.
How Low will Gas Prices Go?
Unknown. But when we started this campaign, we had set goals of $2.50 per gallon for commercially produced Ethanol/Alcohol E-85. And had set a goal of $2.00 Per Gallon Ethanol from Local Producers and citizen co’ops, and $1.20 per gallon Self Produced Alcohol/Ethanol.
Our goals haven’t changed!
Though these lower gas prices have taken some of the steam out of the Re-Fuel America Campaign. Some of those who were ready to start the “Make Your Own Alcohol Fuel Program, yesterday” have backed off a little.
But we dare Big Oil and The Banksters to raise gas prices! We double dare them! We’ll be ready and waiting!
The Mainstream Media said; “$3.00 per gallon gas was gone for good!”
But that was before Wade House and his True Democracy Party got involved and discovered gasoline’s weakness and Nemesis…ALCOHOL, otherwise known as Ethanol! “The ORIGINAL AUTO FUEL! Cleaner, Cheaper, More Powerful, Far Better For The Environment and Made In America!”
NOTE: The above article states: (WASHINGTON, October 20, 2014) With oil prices sharply lower over the last several weeks, the national average pump price has followed suit and has now dropped on 25 consecutive days.
25 days before Oct. 20th was Sept 27th, 3 days after we published our: REFUEL AMERICA CAMPAIGN PT. 3 on September 24, 2014! 🙂 🙂 🙂
I was and still am following the price of gas closely. The higher it goes, the better for the Campaign, and prices had dropped like crazy since the beginning. I couldn’t believe it.
When the local Wawa’s price had dropped to $3.17 in mid September, and then rose back up to $3.24 for Reg., that’s when we unleashed Part 3!
When the True Democracy Party says Jump, Big Oil and The Banksters ask; “How Low Can We Go?”
RELATED: WHO OWNS BIG OIL?
This article was first published on Global Research June 1, 2011
(Part one of a four-part series)
The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths.
But their monopoly over the global economy does not end at the edge of the oil patch.
The Federal Reserve Cartel: The Eight Families: [ The Four Horsemen of Banking own the Four Horsemen of Oil ]