Kwh1 Neutral Newbie January 28, 2008 Share January 28, 2008 (edited) Gasoline prices fall below $3 a gallon Sun Jan 27, 2008 3:05pm EST NEW YORK (Reuters) - The average price for a gallon of gasoline in the United States fell below $3 due to less demand and slightly lower oil prices, and was likely to hold steady, according to an industry analyst. The national average for self-serve, regular unleaded gas was about $2.98 a gallon on January 25, down 9.43 cents in the past two weeks, according to the nationwide Lundberg survey of about 7,000 gas stations. "For the immediate future, unless crude oil prices either leap up or fall dramatically, I expect little change for average price of gasoline in the street," survey editor Trilby Lundberg told Reuters on Sunday. Both refiners and retailers experienced shrinking profit margins, which means gasoline prices will likely rise when demand increases. "Gasoline demand is in its traditional winter hibernation and when it wakes up, rising demand meeting depressed industry profit margins will cause a hike at the pump," Lundberg said. At the current $2.98 a gallon, retail gasoline is 79.23 cents more expensive than it was a year ago. Honolulu, Hawaii, had the highest average price per gallon at $3.35 for self-serve, regular gas in the nation, while Tulsa, Oklahoma, had the lowest at $2.70 a gallon. Edited January 28, 2008 by Kwh1 ↡ Advertisement Link to post Share on other sites More sharing options...
Creatorhk Neutral Newbie January 28, 2008 Share January 28, 2008 Let's see wat sg petrol coy will do. Link to post Share on other sites More sharing options...
Mzrmazda3 6th Gear January 28, 2008 Share January 28, 2008 Let's see if we could see lower pump prices these few days or .... weeks Link to post Share on other sites More sharing options...
Mydotcom 1st Gear January 28, 2008 Share January 28, 2008 sg petrol coy will just act blur Link to post Share on other sites More sharing options...
Bearbear1494 Clutched January 28, 2008 Share January 28, 2008 Pump prices will NEVER decrease. Only discounts will fluctuate with the crude oil market (albeit at a much slower pace). Get ready to see additional discounts anywhere between 3% to 5%, making the total discount 8-10%. But I'm expecting to see that happen only after Feb CNY period, when demand for petrol dips after the festive season. Link to post Share on other sites More sharing options...
Apollo 1st Gear January 28, 2008 Share January 28, 2008 tat's wat i suspect but not beri sure, last week got SPC at 5.38 (lowest) not their price just 14ct today to 5.83 already. sud b getting less n less oil... even if depression, still only got less oil not more. Link to post Share on other sites More sharing options...
Bearbear1494 Clutched January 28, 2008 Share January 28, 2008 Still the same for Shell, pumped the day before. Let's see if the other petrol co. follow suit in the days to come. To be honest, after paying so much for petrol for so long, I'd welcome even a modest 2% extra discount. Link to post Share on other sites More sharing options...
Rickster 5th Gear January 28, 2008 Share January 28, 2008 Let's see wat sg petrol coy will do. SG petrol will continue to up up up the petrol prices. Oh, don't be too happy if the prices were to drop by 1 or 2 cents per liter coz if that happens, I'd be really really worried (they are sure to come up with a bigger hike in a few weeks time). Link to post Share on other sites More sharing options...
Rickster 5th Gear January 28, 2008 Share January 28, 2008 Let's see if we could see lower pump prices these few days or .... weeks There will be no reduction of prices. They do not practise price reduction. If they do, the prices will be going up and down according to crude, but no...so far we only see a continuous upward trend. The only exception was 1.5 yrs ago when the price went down by 1 cent and went up 3 cents(if my memory didn't fail me ) within 3 weeks. Link to post Share on other sites More sharing options...
Zniper 2nd Gear January 28, 2008 Share January 28, 2008 i doubt they will reduce the price... garment got more money to earn since when they will earn lesser if given a chance.... Link to post Share on other sites More sharing options...
Apollo 1st Gear January 28, 2008 Share January 28, 2008 sibeh sian... now i dun dare pump full tank becos it not rising anyway... machiam long wait for it to drop or at least more discount... no 3 no 4... Link to post Share on other sites More sharing options...
Legend Neutral Newbie January 28, 2008 Share January 28, 2008 not even a twitch in their pricing yet Link to post Share on other sites More sharing options...
Mzrmazda3 6th Gear January 28, 2008 Share January 28, 2008 These petrol companies over here really Link to post Share on other sites More sharing options...
Kwchan 1st Gear January 28, 2008 Share January 28, 2008 they have said it before and probably will said it again: they over-stock the oil previously at high price. Link to post Share on other sites More sharing options...
Alvinchua1975 Neutral Newbie January 28, 2008 Share January 28, 2008 Even if we were to complain to CASE, it will also be a case close right? Who can hear our voices? Link to post Share on other sites More sharing options...
Mongzilla Neutral Newbie January 28, 2008 Share January 28, 2008 i dun think it will be dropping soon. last month oil price in US oredi fall below 100USD mark. but over here still have not drop. they will bang on chinese new year festive season coz we die die will drive during this period. i guess price will only come down after chinese new year Link to post Share on other sites More sharing options...
Mzrmazda3 6th Gear January 28, 2008 Share January 28, 2008 Alot of reasons when comes to price reduction ... Link to post Share on other sites More sharing options...
Dennisk Clutched January 28, 2008 Share January 28, 2008 sg petrol coy will just act blur sg petrol companies are the lousiest ↡ Advertisement Link to post Share on other sites More sharing options...
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