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Author Topic: Low Gasoline Prices May Put $30 Billion in Consumers' Wallets Back to Topics
mastermariner

Champion Author
Texas

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Message Posted: Oct 12, 2013 9:11:37 AM

Gasoline prices have been falling for most of 2013 and are about 12 percent lower than they were a year ago. That’s a savings of about 50¢ a gallon. With the economy flatlining at around 2 percent annual GDP growth, that’s a nice boost to consumers living with stagnant wages and not a lot of new job creation

The economists at RBC Capital Markets (RY) think that savings at the pump will add about 0.2 percentage points to GDP growth in the fourth quarter. If national prices average around $3.30 a gallon over the next several months, that’s about $30 billion of extra cash staying in consumers’ wallets during the fourth quarter compared with last year, says Jacob Oubina, senior economist at RBC Capital Markets.

“No one’s really talking about low gasoline prices, but we see it as a very impor
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REPLIES (newest first) Post a Reply
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lesndave
Champion Author Texas

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Message Posted: Oct 13, 2013 11:52:32 PM

Low prices???????
Where?
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Jeff4U
Champion Author Atlanta

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Message Posted: Oct 13, 2013 11:40:33 PM

What low prices?
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CheapDiesel
Champion Author Indianapolis

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Message Posted: Oct 13, 2013 8:29:27 PM

Title should say "Slightly Lower" instead of "Low". I guess "Low" would be accurate compared to the BHO-desired price of $5.
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BBopp
Champion Author Dayton

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Message Posted: Oct 13, 2013 5:01:04 PM

The prices aren't low enough. But I will take any drop in the pump prices I can get.
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Rockyguitar
Champion Author Tampa

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Message Posted: Oct 13, 2013 5:59:44 AM

Low gasoline prices? Hello!!! $3.30 is NOT low. Just 5yrs ago it was $1.80,a78% increase in 5 years. Were you folks at Bloomberg born yesterday? Would you consider a $14K (2008 Ford Focus) a bargain now at $25K (2013 Ford Focus)? Or how about a $5.16 gallon of milk that was $2.90 5 years ago? Give me a break!
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bart_reed
Champion Author Los Angeles

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Message Posted: Oct 13, 2013 1:46:02 AM

And take money from the road repair pot.
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KAR120CSII
Champion Author Oregon

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Message Posted: Oct 13, 2013 1:31:31 AM

Bless it -- I'm giddy with all the new money in my pocket --
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roadrunnerMO
Champion Author Kansas

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Message Posted: Oct 13, 2013 1:18:11 AM

Unkle Bozo will ensure any money saved gets into his coffers.
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alterman156
Champion Author New York

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Message Posted: Oct 12, 2013 10:56:22 PM

Let's see if gasoline prices fall below $3 per gallon.
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Yooperheart
Champion Author Michigan

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Message Posted: Oct 12, 2013 9:59:16 PM

Not if our uncle in D.C. can have his way.
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esq262
Champion Author Asheville

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Message Posted: Oct 12, 2013 9:55:03 PM

They are headed up here.
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Grizdad
Champion Author Montana

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Message Posted: Oct 12, 2013 9:14:39 PM

Imagine that!
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Rayfuel
All-Star Author Houston

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Message Posted: Oct 12, 2013 8:38:04 PM

Good!
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caravanguy
Champion Author Milwaukee

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Message Posted: Oct 12, 2013 7:19:47 PM

50 cents a gallon would save me about $9.00 a tank or about $30 a month. Enough to buy lunch?
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tillandsia
Veteran Author Gainesville

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Message Posted: Oct 12, 2013 7:16:28 PM

Every little bit helps!
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foreyearrunner
Champion Author Illinois

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Message Posted: Oct 12, 2013 5:39:26 PM

If they are wise, the money will be placed in savings
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flatrock14
Champion Author Michigan

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Message Posted: Oct 12, 2013 4:41:31 PM

it's not enough
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streetdesign
Champion Author Illinois

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Message Posted: Oct 12, 2013 4:35:13 PM

Yes so tell the greedy speculators they have been hurting economic growth because they have to line their pockets with money.
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bwatchingu
Champion Author Arkansas

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Message Posted: Oct 12, 2013 4:12:57 PM

Watching.
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rte3tdi
Champion Author New Hampshire

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Message Posted: Oct 12, 2013 4:11:07 PM

They will raise gas taxes as a result.
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BUSMAN1105
Champion Author Atlanta

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Message Posted: Oct 12, 2013 2:59:17 PM

THAT'S GREAT NEWS.THEY CAN SPEND THE EXTRA CASH TO BOOST THE ECONOMY BY BUYING OTHER PRODUCTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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csblesson
Champion Author Texas

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Message Posted: Oct 12, 2013 2:31:34 PM

How much money are the companies making?
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nybearhunter
Champion Author New York

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Message Posted: Oct 12, 2013 2:21:23 PM

Huge Lie.
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335d1
Champion Author Virginia

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Message Posted: Oct 12, 2013 2:19:32 PM

Good.
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scu227
Champion Author New Haven

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Message Posted: Oct 12, 2013 2:11:04 PM

First of all the price is not anywhere near 3.30 here. Second the savings only helps afford to buy food instead of fuel since food prices have been sky high also of late.
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bar1035
Champion Author Charlotte

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Message Posted: Oct 12, 2013 1:58:11 PM

Stupid. It might not take 30 billion out. Spending doesn't put anything into your pocket.
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Night Owl
Champion Author Toronto

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Message Posted: Oct 12, 2013 1:30:36 PM

Good news.
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Taxrefugee
Champion Author Arizona

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Message Posted: Oct 12, 2013 12:15:35 PM

Yahoo!!
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playtimeCLE
Champion Author Cleveland

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Message Posted: Oct 12, 2013 11:57:42 AM

For most of Americans, I would have to say it's money going to something other then big oil. Not like its going to sit in our bank accounts or anything like that.
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BBobDeluxe
Rookie Author Michigan

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Message Posted: Oct 12, 2013 11:49:05 AM

Low gas prices??? A little lower than they have been, but certainly not low. What's your savings of the supposed 30 billion that's reported to be in our pockets?
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velichita
Champion Author New Jersey

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Message Posted: Oct 12, 2013 11:46:00 AM

NJ average is $3.179 but in most gas station $3.079
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cjaffe
All-Star Author Tucson

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Message Posted: Oct 12, 2013 11:45:53 AM

Yay!!!!!!
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juttuniemi
Champion Author Tucson

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Message Posted: Oct 12, 2013 11:43:56 AM

We need this boost to the economy, especially for those who are struggling and have no other way to get to work!
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Discovery02
Champion Author Colorado Springs

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Message Posted: Oct 12, 2013 11:42:47 AM

Still well above $3/gal around here. I guess someone is working their way across America handing out our Billion dollars?? I'll be waiting.
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velichita
Champion Author New Jersey

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Message Posted: Oct 12, 2013 11:41:39 AM

Keep falling.
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RitaVespa
Champion Author Oregon

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Message Posted: Oct 12, 2013 11:38:14 AM

Was wondering where these low prices?
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Paddy60
All-Star Author Alberta

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Message Posted: Oct 12, 2013 11:30:36 AM

Low gas prices?
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JagXKR
Champion Author British Columbia

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Message Posted: Oct 12, 2013 11:19:15 AM

High energy costs will always hurt an economy. Lower them and watch the rebound.
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gbs1
Champion Author Minnesota

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Message Posted: Oct 12, 2013 11:13:12 AM

Good news, but prices are still too high.
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Jeff4U
Champion Author Atlanta

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Message Posted: Oct 12, 2013 10:52:46 AM

They call $3.30 per gallon "Low Gasoline Prices"?
What a freakin' joke!
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PCWHIZ
All-Star Author Denver

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Message Posted: Oct 12, 2013 10:49:03 AM

Good news for consumers & the economy.
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sickhp
Champion Author San Antonio

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Message Posted: Oct 12, 2013 10:45:48 AM

Obummer took office sub $2 a gallon and today still over $3 a gallon we have a long ways to go.
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fedupMN
Champion Author Twin Cities

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Message Posted: Oct 12, 2013 10:33:26 AM

We can only hope the price at the pump continues to go down but I suspect something will happen somewhere that will reverse this trend even if the oil companies have to invent it.
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KE4YBZ
All-Star Author Knoxville

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Message Posted: Oct 12, 2013 10:29:51 AM

what a PERFECT way to stimulate the economy.... Lower energy costs!
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dodsworth
Champion Author Salem

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Message Posted: Oct 12, 2013 10:23:10 AM

Wow.

What gets me is this new level is considered "low" rather than simply "low." We really get used to new levels if we're at them long enough.
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radbadtz
Champion Author Halifax

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Message Posted: Oct 12, 2013 10:21:49 AM

as if... big oil shareholders would flip if the price stays too low
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EnviroChemist
Champion Author Oklahoma

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Message Posted: Oct 12, 2013 10:18:58 AM

Any price relief at the pump is a good thing.
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madison8359
Champion Author Cleveland

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Message Posted: Oct 12, 2013 10:12:12 AM

BO giveth and BO taketh away and way more than they giveth.

Don't spend all that savings yet.
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daytonabiker
Champion Author Florida

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Message Posted: Oct 12, 2013 10:10:57 AM

won't happen,they have to justify their saleries
CHEVRON-CORP-Executive-Salaries:
J. S. Watson CEO, $22,278,928,
G. L. Kirkland Vice Chairman & Executive Vice President $10,745,761,
P. E. Yarrington Vice President & Chief Financial Officer, $6,623,497,
M. K. Wirth Executive Vice President, $6,641,519,
R. H. Pate Vice President & General Counsel, $4,930,403
http://www1.salary.com/CHEVRON-CORP-Executive-Salaries.html
EXXON-CORP-Executive-Salaries:
Rex W. Tillerson, Ceo of Exxon $34,920,506
D.D. Humphreys,V.P. $15,372,494
M.J. Dolan,V.P., $12,323,912
M.W.Alters ,V.P. $11,409,843
A.P. Swinger V.P. $10,566,856
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AVKZ
Champion Author Kalamazoo

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Message Posted: Oct 12, 2013 10:10:51 AM

I don't think this puts money in, it just takes less out.
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