How Low Will It Go? Gas Prices Are Down 30 Cents In 30 Days

June 25, 2011

Gas prices in the North Escambia  area have fallen about 30 cents a gallon in the last 30 days. According to the AAA Fuel Gage Report, the average cost of a gallon of regular unleaded in the Escambia County area  is $3.51, down from $3.80 a month ago. One year ago, the average price was $2.67 a gallon.

Experts are divided on just how far gas prices might drop after President Obama’s plan this week to join other counties in releasing 60 million barrels of oil from the Strategic Petroleum Reserve — with 30 million barrels coming from the U.S. Obama’s decision was part of a plan by the International Energy Agency, which is made up of the U.S. and 27 other countries.

Analysts believe the reserve release will lower prices, but exactly how much remains to be seen.

There are currently 727 million barrels of oil in an emergency supply in salt domes along the Gulf of Mexico. The release, which is only the third time the reserve has been tapped, is expected to happen within the next 30 days.

Pictured: A gallon of regular unleaded was $3.51 in Molino. NorthEscambia.com photo, click to enlarge.

Comments

21 Responses to “How Low Will It Go? Gas Prices Are Down 30 Cents In 30 Days”

  1. David Huie Green on June 29th, 2011 1:30 pm

    “Do you think gas’ll ever get to a dollar a gallon?”

    “I can’t even imagine why it would stop there. Fossil fuel is finite, so it’ll get in short supply eventually and money’s imaginary, they just print more all the time, so eventually a dollar’ll be worth less than a gallon of gas. It might even get much higher if they don’t cut back on printing money.”

    David remembering the former ultimate fear

  2. MM on June 27th, 2011 1:56 pm

    Let’s not consider how ‘low’ the price of gas is until it gets under $2 / gallon.

  3. Safebear on June 27th, 2011 8:16 am

    I filled up in Troy, AL yesterday for $3.19/gallon. It was like I saved a million dollars…LOL

  4. 429SCJ on June 27th, 2011 7:12 am

    If you consider that one division of M-1 tanks use as much fuel in one day, as Gen Patton’s entire 3rd Army used crossing Europe, tapping strategic reserves of oil is a little scary. I have no idea how much fuel, the US. Navy’s surface and air operations, would average in a day of combat. The Air Force would consume an enormous amount of fuel. I hope President Obama will replenish these reserves. I know if he does, I will respect him for it.

  5. David Huie Green on June 26th, 2011 9:49 am

    see? SW agrees with me. It was all those speculators who wanted to buy oil at a high price and sell it at a lower price. sneaky fellows

    David joking

  6. SW on June 26th, 2011 8:05 am

    I’m sure the ‘no drilling’ offshore has nothing to do with the price of oil.

    I’m sure the restrictions of drilling onshore has no affect on oil prices; toss in the attempt of the EPA to stop some types of drilling, another ‘endangered species’ and the possible shutdown of a very large oil discovery in Texas,..won’t affect the price of oil at all.

    I’m sure the price of oil has nothing to do with our dependence on foreign oil.

    I’m sure the depreciation of the dollar has no bearing whatsoever on the cost of crude oil.

    I’m absolutely positive that the new construction of oil refining facilities in the US has nothing to do with oil costs.

    Must be the speculators; can’t be the US energy policies…!

  7. 429SCJ on June 26th, 2011 7:01 am

    I did not care for President Obama’s bail out of the international bankers, any more than I cared for Dick Cheney’s adventure rebuilding Iraq. I believe that the coming economic collaspe, will serve to strenghten us, we sat on our butts and let special interest erode the institutions that made us great. We let these beings strip prayer and the pledge of allegence from our schools, We elevated immorality and mocked decency. America has had a good run, I believe that as the former soviet union fragmented, the U.S. also will probably diversify into several smaller nation states.I am not certain of this, I hope I just wind up living in one nation under God. The one thing I am certain of, a hard wind is gonna blow. Oh! and yes, the drop in oil is nice, while it last.

  8. dad on June 26th, 2011 4:48 am

    President Obama could cure cancer and some of you would still criticize that. He does deserve respect as President of the United Staes whether you like him or not, just like President Bush did.

  9. Stacey Plant on June 25th, 2011 11:41 pm

    Just praying that prices continue to drop…God is good all of the time, even when it was almost $4 a gallon, He made a way!!

  10. sambo on June 25th, 2011 9:40 pm

    As soon as he shows ” We the People” some respect maybe others will do the same for him.

  11. Susan on June 25th, 2011 6:37 pm

    Yea that’s it, it’s a conspiracy, President Obama manipulates the gas prices to increase his poll ratings. Whether you like him or not he is the President of the United States of America. Show some respect!

  12. southern by choice on June 25th, 2011 3:53 pm

    I agree with you, David. The speculators have a lot to do with the price of gas!

    Brewton does seem to be the cheapest gas in Escambia County, Alabama right now. That is if you go North to Jet-Pet or Murphy Oil. The others are a bit higher. I don’t know why Flomaton charges so much for their gas. I believe it has to do with what’s known as a monopoly. . . .with one man owning two stations there and the other stations just going along with what he decides to charge the customers. Just today, the stations in Century (at Hwy. 4) were 11 cents cheaper per gallon than the stations in Flomaton. The ones in Flomaton don’t get my money!!

  13. brewtonmom on June 25th, 2011 3:49 pm

    Gas at the Jet pep in brewton is $3.38 woohoo

  14. James Broel on June 25th, 2011 10:22 am

    @NWFLA Linda you speak of politics like it only applies to President Obama when it seems all people in power engage in political decision making and maneuvering for their own self served benefits.

  15. David Huie Green on June 25th, 2011 9:24 am

    It’s those dadgum speculators driving prices down.

  16. James Broel on June 25th, 2011 9:21 am

    Well one good thing will happen…people getting rich on oil futures ain’t gonna do it for a while…I believe supply and demand has something to do with oil prices but so do people artificially inflating oil markets to make money…go President Obama!!

  17. NWFLA Linda on June 25th, 2011 8:27 am

    Name Required, I hope more folks have their Eyes Wide Open! When this happened, I wondered for about a millisecond Why? The answer is so transparent – politics. Tapping into those reserves are intended to be a last ditch effort in cases of emergencies -either domestic or for national defense. Where was this token gesture last year during the oil spill to maybe boost confidence just a tad? Obama stated when running for office, he wanted to see $5 a gallon gas and, I believe, is determined to see that happen. Prices might go down a little now, but they will go back up with a huge rebound effect. He and his goons who can’t figure out how to actually help America’s economy will manipulate the heck out of it to bring this country to its knees in order to fulfill their agenda. We are NOT all going to ride around in little toy, electric cars. At least possibly not until technology makes them affordable and capable of traveling farther on a single charge. I personally like my truck just as it is! Can you envision “charging stations” in the middle of Barrineau Park road for those of us in the north end who work in Pensacola or elsewhere? All the greenies who tout this mode of transport conveniently omit the problem of disposing of those batteries, the price and cost environmentally to charge those batteries. But, obviously, some of those in seats of power have invested heavily in these technologies. Somewhat like Al Gore when he wasn’t inventing the internet!

  18. drivin' to far on June 25th, 2011 8:26 am

    Gas price is around 3.38 in Brewton….Not a bad place to fill up if you are anywhere close to the area. It is usually arond $.15-$.20 cheaper than Atmore, Century, and Pensacola.

  19. 429SCJ on June 25th, 2011 6:47 am

    Amen! Name Required.

  20. billy on June 25th, 2011 2:48 am

    $3.50 per gallon is still very bad.

  21. Name (required) on June 25th, 2011 1:08 am

    Sounds great until you realize these ‘emergency supplies’ of oil are being tapped for no other reason then to give Obama a bump in the polls….

    … Once it is gone it is gone (and the majority of the oil in the SPR is not sweet… it will not make low sulfur fuel). If Iran cuts the Streights of Hormuz or even if we had a hurricane in the gulf this move may well prove to be a completely disastrous

    I suppose if all you care about is getting re-elected you really don’t much care though do you?

    Name Required,
    Eyes Wide Open.

Written by William Reynolds · Filed Under News