Gas prices... $2.92/gallon for premium in Central Ohio...

Posted by Dan on Oct 14, 2008 @ 9:10 AM

I just filled up the tank this morning and for the first time in a long time I saw "Premium" under $3/gallon. I filled up at Giant Eagle's GetGo here in Hilliard, OH (so I could take advantage of our fuel perks) and premium was listed at $2.92/gallon. I've seen the price of regular drop under the $3 mark a couple of times in the past few years, but this is the first time I remember seeing premium under the mark.

I'm beginning to think the oil companies are worried that the US is really serious about trying to find other renewal energy sources this time and is dropping prices in hopes that it stalls the momentum of change.

Categories: Potpourri

15 Comments

  • Chris's Gravatar
    Chris
    Man, that really makes me envy you guys... here in Germany a gallon of premium is currently around $8,70... and that is pretty low for us. :-(
  • John's Gravatar
    John
    $2.96 for premium in the oil-capitol of the US, Houston. I've seen regular for as low as $2.65. This is probably not news to anyone, but just in case, check out gasbuddy.com
  • Jim Priest's Gravatar
    Jim Priest
    3.59 here in central NC. Supposedly the highest cost on the US due to Hurricane IKE...
  • Dan G. Switzer, II's Gravatar
    Dan G. Switzer, II
    @Chris:

    I know the US is still very low compared to other parts of the world, but I still remember too well buying gas for under $1 gallon (and I'm under 40!) I still can't imagine paying $8.70/gallon--that's beyond ridiculous.
  • John's Gravatar
    John
    @Jim

    Wanna trade?

    Ike did thousands of dollars of damage to my house...but of course, under my deductible. $3.59 gas is lookin' pretty good! ;-)
  • todd sharp's Gravatar
    todd sharp
    2.71 in northern ohio last night...no joke...
  • Greg's Gravatar
    Greg
    I finally saw a sub-$3 number on the signs today in Pittsburgh, PA.

    Didn't realize you lived in Hilliard though...I used to go to high school there!
  • Jason Dean's Gravatar
    Jason Dean
    I passed $2.66/gal on the way in to work today. Twin Cites, MN
  • Scott Pinkston's Gravatar
    Scott Pinkston
    Saw 2.61 this morning in Arkansas
  • Sean Corfield's Gravatar
    Sean Corfield
    I just got back from England and gas was closer to $10/gallon there. Out here in CA, regular gas is just over $3.50 and premium is $3.70. That's in the East Bay - over in SF, add 30c per gallon.
  • todd sharp's Gravatar
    todd sharp
    How's that CNG thing working out for you Sean?
  • Chris's Gravatar
    Chris
    @Dan:

    I remember prices as low as $0.91 per gallon here... but, that was at a time, when the exchange rate for USD was about 125% higher than it is today, back in 1972. And yes, I am over 40. ;-)

    A couple of weeks ago the dollar was less strong than today and if I had done the math then, it would have been more than $10 per gallon. ;-))
  • Damon's Gravatar
    Damon
    $3.49 out here in Oregon. Down from low $4s earlier in the summer. Regular is selling at $3.20 or so.
  • Jeff Gladnick's Gravatar
    Jeff Gladnick
    @ 3.80 in San Francisco, I do envy you a bit. However, the oil companies (hate them as you may for environmental issues or what have you), do not just arbitrarily set the price as high as they think they can get away with. While there are many factors involved, the most important are:

    1) Strength/weakness of the USD
    2) Supply/Demand issues (ie hurricane)

    The reason they went up in the first place, is because we've been debasing our currency (printing money out of thin air via the Federal Reserve) at an alarming rate over the past 8 years or so. Similarly, part of the reason they have gone down is the dollars relative strength against other world currencies. That means that when countries show up in Saudi Arabia to purchase oil, we (in the past couple months) are new getting more for our money.

    The demand in the US has also dropped as people being pinched by the economy tighten their belts and their driving habits.

    However, if these bailouts continue we're going to enter a depression, and possibly have hyperinflation. Then we'll be lucky to have the current german gas prices chris is referring to.
  • Sean Corfield's Gravatar
    Sean Corfield
    @Todd, still loving the CNG car - 1,400+ miles and the exhaust is still spotless! :)

    I also remember sub-$1 gallons here... when I first started visiting in the early 90's... and Texans were grumbling then about breaking the dollar threshold (my company had an office in Dallas so I spent a lot of time there - my first experience of America!).

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