November 1, 2005

RAIN?:

Gasoline falls below pre-storm price level: Investors see more declines on horizon (Peter J. Howe, November 1, 2005, Boston Globe)

Average US gasoline prices fell another 12.3 cents per gallon last week to $2.48, according to new data reported by the US Energy Information Administration late yesterday. In New England, prices are down to $2.45 per gallon, which is the lowest weekly price since mid-August and a 77-cent drop from the post-Katrina peak in early September, the agency said.

''We've had a disruption to the market from the hurricane damage, but I am fairly impressed with how effectively we've managed to respond to it," said Sarah Emerson, managing director of Energy Security Analysis Institute, a Wakefield consulting firm. ''Prices will come down some more, but it's always hard to make that prediction because of what can happen in the crude oil market."

Investors are betting prices have farther to fall still. In trading on the New York Mercantile Exchange yesterday, gasoline hit its lowest wholesale trading price since June 8. Gasoline for delivery this month fell 6 percent, or 9.8 cents, to $1.53 a gallon, and contracts for delivery next month also fell 4.5 percent.


It's a mistake to let it drop as far as it will.

Posted by Orrin Judd at November 1, 2005 7:56 AM
Comments

If the price of gas goes down to $1.25, just think about all of the cheap Chinese crap we could all buy.

Posted by: AllenS at November 1, 2005 8:19 AM

We're about to replace our 17 year old Dodge Caravan (most reliable car we've ever had), so should we just get whatever appeals, or are there some Judd Hood caveats we should heed?

All suggestions welcome.

Posted by: tefta at November 1, 2005 9:25 AM

Big vehicles are being discounted, if you don't drive much they are a good deal.

Posted by: Perry at November 1, 2005 9:34 AM

tefta:

There's no point buying a small car if it means a deeer will make it through your windshield and decapitate you. Gas will always be cheaper than life.

Posted by: oj at November 1, 2005 9:39 AM

get a Japanese car/van/truck built in America, then you get top quality without supporting bad unions. stay away from German cars, they are living on past performance and will be in for repairs every couple of months.

Posted by: Lee Iacoca at November 1, 2005 10:12 AM

Small car, big car; the windshields are the same. A friend hit a adult moose with his Dodge Neon and the moose was thrown to the roof and slid off the back with minor damage to the car. What do you think might have happened if he hit it with a Ford Expedition, keeping in mind a moose can weigh 650 lbs. and up? He was lucky, Moose have long legs.

Posted by: Genecis at November 1, 2005 10:42 AM

It's not a matter of the winshield, but that lowslung hoods undercut the legs and make like ski jumps, feeding the body directly towards your head. You need a high and upright grille front.

Posted by: oj at November 1, 2005 10:51 AM

I'd like a PT Cruiser. I know they're just tarted up Neons, but they're so darn cute. We have a bigger car and economy isn't an issue.

It would be my toy. What say you sages? Yea or Nay?

Posted by: tefta at November 1, 2005 2:12 PM

Get the one with the faux wood-paneling.

Posted by: oj at November 1, 2005 2:16 PM

oj. You're reading my mind. I'll send you a picture.

Posted by: tefta at November 1, 2005 4:46 PM

Don't worry OJ, it won't fall that far. The oil price is just taking a break between summer driving season and winter heating season.

Posted by: Robert Duquette at November 1, 2005 5:28 PM
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