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Pump prices falling, weekly report says

The Regina Leader-Post -- OTTAWA - The average price of gasoline in Canada has fallen for the fourth time in five weeks, a weekly survey showed Tuesday, putting the cost down more than nine per cent from its peak in mid-July.

MJ Ervin & Associates, a petroleum-industry research group, said the average price for regular gasoline was $1.272 a litre, down 1.5 cents from a week earlier.

The average had been as high as $1.401 a litre, according to the report that was issued July 15. The price of crude oil has fallen almost 25 per cent since peaking July 11.

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Submitted Aug 20, 2008 By: JT

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magnumCA Champion Author Los Angeles Posts:2,219 Points:438,950 Joined:Jan 2008	Message Posted: Aug 21, 2008 6:45:25 PM Ignore magnumCA Report Abuse Not today
letmathe Champion Author Chicago Posts:9,997 Points:2,281,615 Joined:May 2001	Message Posted: Aug 21, 2008 11:51:42 AM Ignore letmathe Report Abuse Thanks for the background F250CA
F250CA Veteran Author Oakland Posts:469 Points:217,195 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:22:39 AM Ignore F250CA Report Abuse http://cr.middlebury.edu/es/altenergylife/70's.htm U.S. oil consumption was high in the early 1970’s, while U.S. oil production declined In 1973, 36% of energy consumption was in foreign oil, while in 1970 it had been 22% The Nixon administration was in office, the Watergate scandal was at its height in 1973, providing limited strength in policy formulation, and little potential for an effective response to the oil embargo Arab-Israeli conflicts had already produced a growing tension between U.S. and Arab countries The OPEC (Organization of Petroleum Exporting Countries) cartel led to rising gas prices in early 1970's
ramshot412 Champion Author Riverside Posts:15,841 Points:1,680,715 Joined:Apr 2004	Message Posted: Aug 21, 2008 11:21:43 AM Ignore ramshot412 Report Abuse Time for the refineries to start shutting down for "maintenance", that'll keep the prices up...
theawesome1 Champion Author Cleveland Posts:3,631 Points:803,440 Joined:Aug 2005	Message Posted: Aug 21, 2008 11:20:55 AM Ignore theawesome1 Report Abuse Toyota is losing customers very fast, including my friend who is on 10 weeks for a Prius. Now they are saying past Thanksgiving. So is it is dealer as I told him I will call around to buy one I am told the same thing, with millions wanting it & some willing to pay twice the price, so those who got a deal must wait.
TBoneSoCA All-Star Author Orange County Posts:509 Points:88,530 Joined:May 2007	Message Posted: Aug 21, 2008 11:16:44 AM Ignore TBoneSoCA Report Abuse This price drop is only temporary...
firebirdv8 Sophomore Author Ohio Posts:112 Points:660,815 Joined:Feb 2008	Message Posted: Aug 21, 2008 11:16:15 AM Ignore firebirdv8 Report Abuse I am conserving as much as i can
F250CA Veteran Author Oakland Posts:469 Points:217,195 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:15:34 AM Ignore F250CA Report Abuse Don That would not be joe public it's more like U.S. auto makers "they" should have made the change back in the 70's when we had the 1st fuel crunch and we where still then dependent on foreign fuel
Cyberpeep24 Champion Author Oakland Posts:1,605 Points:138,645 Joined:Apr 2008	Message Posted: Aug 21, 2008 11:14:47 AM Ignore Cyberpeep24 Report Abuse Keep conserving
NavyEOD Champion Author Los Angeles Posts:5,129 Points:1,056,590 Joined:Jul 2007	Message Posted: Aug 21, 2008 11:14:39 AM Ignore NavyEOD Report Abuse Who do you believe, one article says going up and one says going down.
theawesome1 Champion Author Cleveland Posts:3,631 Points:803,440 Joined:Aug 2005	Message Posted: Aug 21, 2008 11:14:35 AM Ignore theawesome1 Report Abuse Watching CNBC again for cruse price, today it is $121.71 so it is climbing for Labor Day, so OPEC celebrates with the USA????
evasilion All-Star Author Virginia Beach Posts:701 Points:132,320 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:13:32 AM Ignore evasilion Report Abuse Don't get use to it.
dabuzman Champion Author Seattle Posts:3,794 Points:997,875 Joined:Apr 2006	Message Posted: Aug 21, 2008 11:12:06 AM Ignore dabuzman Report Abuse I'd like to see it back to just below $3.00 a gallon.
Don20 Champion Author Oklahoma City Posts:4,719 Points:1,642,850 Joined:Mar 2005	Message Posted: Aug 21, 2008 11:11:15 AM Ignore Don20 Report Abuse NissanGirl: For some old habits are hard to break..
F250CA Veteran Author Oakland Posts:469 Points:217,195 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:08:03 AM Ignore F250CA Report Abuse Does not China have alternative fuels aka "rice burners"
NissanGirl Veteran Author Oregon Posts:308 Points:200,010 Joined:Jan 2008	Message Posted: Aug 21, 2008 11:07:45 AM Ignore NissanGirl Report Abuse Sadly, F250CA is probably right. One glimmer that things are "the way they used to be" and people will go right back to their old driving habits.
Lovelee Champion Author Detroit Posts:14,370 Points:1,070,825 Joined:Mar 2007	Message Posted: Aug 21, 2008 11:06:05 AM Ignore Lovelee Report Abuse For how long? Don't forget India and China still need more and more fuel.
F250CA Veteran Author Oakland Posts:469 Points:217,195 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:05:29 AM Ignore F250CA Report Abuse We already have alternative fuels they are probably as far as we'll go
NoodlyWee All-Star Author Orange County Posts:567 Points:94,895 Joined:Mar 2008	Message Posted: Aug 21, 2008 11:04:08 AM Ignore NoodlyWee Report Abuse Good for Canada . . . still near $5/gallon (once you convert litres to gallons.) It's still ridiculous no matter where you live!
bobsalwaysmt Champion Author Long Island Posts:2,406 Points:154,905 Joined:Oct 2007	Message Posted: Aug 21, 2008 11:02:14 AM Ignore bobsalwaysmt Report Abuse In the US too.
Gorlock Sophomore Author Toledo Posts:212 Points:29,090 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:58:54 AM Ignore Gorlock Report Abuse Good thing we use Gallons.
DarthDadJr Champion Author Virginia Posts:3,318 Points:641,635 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:53:38 AM Ignore DarthDadJr Report Abuse I'm finding the prices fall here at the weirdest times...mid week...weekends...I never no when it is the best time to fill up!
Austin1850 Champion Author Austin Posts:8,206 Points:777,650 Joined:May 2008	Message Posted: Aug 21, 2008 10:51:30 AM Ignore Austin1850 Report Abuse no news here
maindrag Champion Author Ontario Posts:1,359 Points:77,300 Joined:Dec 2005	Message Posted: Aug 21, 2008 10:51:23 AM Ignore maindrag Report Abuse pump prices never fall before a weekend. wait till the long weekend, they'll try and ruin it for everyone.
Gerund1 Champion Author Toronto Posts:1,237 Points:840,480 Joined:Apr 2003	Message Posted: Aug 21, 2008 10:50:43 AM Ignore Gerund1 Report Abuse I wish I knew where these falling prices are. Not here!, and the price of oil, this morning is over $120. Not much falling there either.
kypeanuts Veteran Author Louisville Posts:342 Points:74,160 Joined:May 2008	Message Posted: Aug 21, 2008 10:49:23 AM Ignore kypeanuts Report Abuse only temporary
BM4225 Champion Author Atlanta Posts:5,452 Points:1,172,380 Joined:Aug 2006	Message Posted: Aug 21, 2008 10:47:35 AM Ignore BM4225 Report Abuse Yup, saw another fallen price yesterday.
Caspertherat Sophomore Author Arkansas Posts:155 Points:37,530 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:46:44 AM Ignore Caspertherat Report Abuse Sure they are falling but gas is not keeping up with the crude price drop but--- just wait until they start trying to jack the prices up in time for the Labor Day Holiday. Their last desperate gasp for the summer driving season.
murdershewrote Champion Author Riverside Posts:4,617 Points:1,629,535 Joined:Mar 2005	Message Posted: Aug 21, 2008 10:46:29 AM Ignore murdershewrote Report Abuse think positive
yeehaw1073 Sophomore Author Indiana Posts:148 Points:1,036,135 Joined:May 2004	Message Posted: Aug 21, 2008 10:44:09 AM Ignore yeehaw1073 Report Abuse Prices are dropping like a rubber ball headed for a concrete floor!
TwoEyes Champion Author New Haven Posts:1,683 Points:1,724,435 Joined:May 2005	Message Posted: Aug 21, 2008 10:38:53 AM Ignore TwoEyes Report Abuse probably no decline today -- oil has spiked up $4.44 to over $119/barrel.
jdbgn Champion Author Los Angeles Posts:7,098 Points:1,166,935 Joined:Apr 2007	Message Posted: Aug 21, 2008 10:38:25 AM Ignore jdbgn Report Abuse Wow, do ya think. And they get paid to report this stuff?
bkstecklein All-Star Author Tulsa Posts:524 Points:829,870 Joined:Sep 2004	Message Posted: Aug 21, 2008 10:37:23 AM Ignore bkstecklein Report Abuse the price cannot fall fast enough for me.
BM4225 Champion Author Atlanta Posts:5,452 Points:1,172,380 Joined:Aug 2006	Message Posted: Aug 21, 2008 10:35:49 AM Ignore BM4225 Report Abuse Sam's has gone down 7 cents since Saturday, according to the last post that I read.
AKTigger99645 Champion Author Anchorage Posts:6,076 Points:1,208,550 Joined:Mar 2005	Message Posted: Aug 21, 2008 10:35:19 AM Ignore AKTigger99645 Report Abuse Not falling here in Alaska. prices have been steady for weeks.
hugrad2005 Sophomore Author Arkansas Posts:136 Points:82,860 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:33:42 AM Ignore hugrad2005 Report Abuse Why can't the prices go down more?
ElCubano Champion Author Miami Posts:2,038 Points:418,575 Joined:Sep 2006	Message Posted: Aug 21, 2008 10:33:39 AM Ignore ElCubano Report Abuse except for this week....supply/demand forecast released today and price of barrel shot up 3.75 this morning!!!!
whitemiata Champion Author Albany Posts:7,579 Points:1,653,700 Joined:Mar 2005	Message Posted: Aug 21, 2008 10:33:13 AM Ignore whitemiata Report Abuse yes, but one year ago, we were paying $2.80 per gallon and complaining about that!!!
bluebird1 Champion Author Toronto Posts:10,697 Points:2,141,320 Joined:May 2004	Message Posted: Aug 21, 2008 10:30:51 AM Ignore bluebird1 Report Abuse To add to last post on when they measure for the week... If measured weekly from July 24 then would show a rise of $.04/L first week, .02/L rise week of Aug 1, $.018/L rise week of Aug. 9'th. It's all how you perceive the stats.
amacquarrie All-Star Author Nevada Posts:521 Points:112,875 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:30:36 AM Ignore amacquarrie Report Abuse too bad the drop in crude oil doesn't show at the pump as much as we would expect.
Arktander Champion Author Illinois Posts:1,610 Points:935,565 Joined:Aug 2005	Message Posted: Aug 21, 2008 10:27:11 AM Ignore Arktander Report Abuse It's only down from its artificially-induced high.
bluebird1 Champion Author Toronto Posts:10,697 Points:2,141,320 Joined:May 2004	Message Posted: Aug 21, 2008 10:26:13 AM Ignore bluebird1 Report Abuse In Canada it depends when during the week you measure it, as of late there's been more price fluctation than normal but little real drop. Even the price charts for Ont. show 7/22 was 1.285/L, 7/24 it was 1.241L & rising back to 1.28 on 2/31. Back down for 2 days around 8/06 & 1.275 on 8/08, back to 1.25 on 8/13, then back up to 1.28 by 8/15. It is now $1.262/L & climbing. That's a net change of $.02/L since July/22 - not a hell of a lot given the drop in Oil over the same period.
superglidefxd Champion Author Michigan Posts:2,329 Points:456,650 Joined:Aug 2006	Message Posted: Aug 21, 2008 10:23:00 AM Ignore superglidefxd Report Abuse they are still getting ripped off at the pump.
Chazzer Champion Author Nevada Posts:11,268 Points:2,354,410 Joined:May 2002	Message Posted: Aug 21, 2008 10:18:22 AM Ignore Chazzer Report Abuse Yeah, pump prices have dropped forty-three (43) cents a gallon, on average, over the last six (6) weeks out here in the middle of the Mojave Desert!
AnObserver Champion Author New Jersey Posts:4,260 Points:1,415,945 Joined:Sep 2005	Message Posted: Aug 21, 2008 10:16:44 AM Ignore AnObserver Report Abuse Dropping in NJ also
spunky4443 Champion Author Washington Posts:3,994 Points:1,047,220 Joined:May 2005	Message Posted: Aug 21, 2008 10:16:30 AM Ignore spunky4443 Report Abuse According to Gas Buddy, Canadians don't care where the price is.
roydarecker Champion Author Minnesota Posts:5,695 Points:1,196,735 Joined:Sep 2006	Message Posted: Aug 21, 2008 10:14:20 AM Ignore roydarecker Report Abuse Drop a dallor fiftey and I would be happy.
SeerLV Champion Author Las Vegas Posts:3,473 Points:712,710 Joined:Jun 2008	Message Posted: Aug 21, 2008 10:13:52 AM Ignore SeerLV Report Abuse Should go lower . . .
Roo08 Veteran Author Grand Rapids Posts:398 Points:57,115 Joined:Jul 2008	Message Posted: Aug 21, 2008 10:13:52 AM Ignore Roo08 Report Abuse Good news. I hope it keeps dropping.
radicale All-Star Author Calgary Posts:982 Points:245,145 Joined:Aug 2006	Message Posted: Aug 21, 2008 10:11:36 AM Ignore radicale Report Abuse Still waiting.............................