Gas Prices Low! FOR NOW...

**Zacha341** · March-16-20, 05:15 PM

Was it just me or did I see gas for $1.88?

It was $1.89 at a station across the street so I was not seeing double.

This was on Woodward near Clairmont... Any other sitings of this?

**Honky Tonk** · March-16-20, 05:31 PM

Originally Posted by Zacha341

Any other sitings of this?

Nope, all the stations I saw today had regular @ $1.79. Friends tell me Costco is usually $.12 - $.15 cheaper than that. Can't verify it, I don't have a card.

**Johnnny5** · March-16-20, 05:49 PM

Yeah, but who needs it? LOL.. I wouldn't be surprised to see it under $1.50 in the next few weeks.

**Cincinnati_Kid** · March-16-20, 06:54 PM

Wonder why it's always cheaper in the city? Out in the burbs, lowest I saw was 2.20 a gallon.

**Jimaz** · March-16-20, 06:59 PM

Enjoy! http://www.detroitgasprices.com/

**Zacha341** · March-16-20, 08:17 PM

Closer to the refiners it is cheaper from my experience, in say in Dearborn, Southgate.

Troy or Novi, Rochester gas is higher, starting with higher prices in Southfield.

**Cincinnati_Kid** · March-16-20, 08:23 PM

Originally Posted by Zacha341

Closer to the refiners it is cheaper from my experience, in say in Dearborn, Southgate.

Troy or Novi, Rochester gas is higher, starting with higher prices in Southfield.

Thanks, never thought of that. I guess it's worth going to Detroit to save 30-40 cents per gallon.

**313WX** · March-16-20, 08:45 PM

RBOB Wholesale Gas Prices have collapsed to under $0.80/gallon.

So prices at the pump have quite a bit of falling to do yet, at least until it's time for the Summer blend...

**Hypestyles** · March-16-20, 09:12 PM

I truly hope that the, uh... public health issue doesn't lead to spiking gas prices in the months to come [[historically already poised to go up for Memorial Day, 4th of July weekend, etc.). We'll see. hoping for the best.

**hybridy** · March-17-20, 08:21 AM

1.65 costco on 11 mile

**401don** · March-17-20, 08:31 AM

Originally Posted by Hypestyles

I truly hope that the, uh... public health issue doesn't lead to spiking gas prices in the months to come [[historically already poised to go up for Memorial Day, 4th of July weekend, etc.). We'll see. hoping for the best.

I hope gas prices double asap. Spiking gas prices will only occur when things are returning to normal.

**JBMcB** · March-17-20, 10:58 AM

Originally Posted by Hypestyles

I truly hope that the, uh... public health issue doesn't lead to spiking gas prices in the months to come [[historically already poised to go up for Memorial Day, 4th of July weekend, etc.).

Gas prices are tied pretty close to demand. They bump up a bit, as you point out, when people typically go on long road trips. They also bump up when refineries have to switch over to summer/winter blends.

As of late, OPEC tried restraining supply, but it failed miserably, with most large producers saying they are going to keep pumping full-tilt. Now you have severe restrictions on air travel, a lot of people not driving in to work everyday, so demand is collapsing as well.

So, basic economics - supply is staying high while demand is falling. Prices go down. They are probably going to go down quite a bit.

**Cincinnati_Kid** · March-17-20, 12:24 PM

Boy, that would be a trip if it, dropped to below a buck a gallon. That's what it was when I first started driving.

**Jimaz** · March-17-20, 12:55 PM

I heard there's a possibility gasoline could drop below the price of crude.

At that point I imagine everything from the refiners upsteam would shut down until the gas glut subsided.

It won't last.

**Ray1936** · March-17-20, 01:00 PM

Originally Posted by Jimaz

It won't last.

As usual, Jimaz speaks wisely.

**Honky Tonk** · March-17-20, 09:03 PM

I think we've hit a new low...

Name: Gas Price 3-17-20 [[3).jpg
Views: 3253
Size: 85.1 KB

**313WX** · March-18-20, 08:09 AM

Originally Posted by Honky Tonk

I think we've hit a new low...

Name: Gas Price 3-17-20 [[3).jpg
Views: 3253
Size: 85.1 KB

Back in the winter of 2016 [[the last time gas/oil prices crashed), there were stations priced as low as $1.20/gallon.

**One Shot** · March-18-20, 09:08 AM

I thought they only made .02-.03 a gallon!?

**JBMcB** · March-18-20, 09:21 AM

Originally Posted by One Shot

I thought they only made .02-.03 a gallon!?

On average they do. They buy off the truck for ~$1.80/gallon, then sell it for $1.82. Sometimes they can eek out a few more cents per gallon, but not much more.

They make more selling a single bottle of coke or a cup of coffee than filling a tank of gas.