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Gasoline prices finally begin to decline in U.S., Canada

GasBuddy Blog -- You've likely heard it for weeks- gasoline prices were likely to start declining. The relief that we've long been expecting and looking forward to is seemingly on its way.

While the U.S. and Canadian national averages didn't shed a substantial amount, the fact we've "turned the corner" bodes well as we expect prices to continue to decline, at least in the near term. The U.S. average shed nearly 5c/gal in the last week, dropping to $3.814 this morning, while the Canadian average fell a larger 3c/L to 131.2c/L.

Six states continue to have average gasoline prices above the psychological $4/gal mark: Hawaii, California, Connecticut, New York, Alaska, and Illinois. The highest prices in the U.S. today can be found in San Francisco...

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Submitted Sep 24, 2012 By: PD

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honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Oct 3, 2012 9:00:34 PM Ignore honda0105 Report Abuse Ducati: well, Calis have brought that part onto themselves.
DucatiRider Rookie Author Maryland Posts:70 Points:1,200 Joined:Sep 2012	Message Posted: Oct 3, 2012 6:32:46 AM Ignore DucatiRider Report Abuse Give the liberals a state and watch them have the highest gas prices possible. Oh, and you have to buy a California approved lawn mower.
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Oct 2, 2012 9:01:01 PM Ignore honda0105 Report Abuse I'm sure CA will see prices go up soon again.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:754,355 Joined:Mar 2011	Message Posted: Oct 2, 2012 12:44:22 PM Ignore clpassenubye Report Abuse not in CA
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Oct 2, 2012 2:58:49 AM Ignore honda0105 Report Abuse maybe declining for a few days, will probably be jacked up soon again.
flagtown25 Champion Author New Jersey Posts:1,177 Points:493,155 Joined:Oct 2011	Message Posted: Oct 1, 2012 9:43:48 PM Ignore flagtown25 Report Abuse Not for long.
dcone2 All-Star Author Los Angeles Posts:924 Points:85,610 Joined:Jul 2012	Message Posted: Sep 30, 2012 10:29:36 PM Ignore dcone2 Report Abuse ok
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Sep 30, 2012 9:03:31 PM Ignore honda0105 Report Abuse about time..
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Sep 29, 2012 8:10:18 AM Ignore honda0105 Report Abuse momcat: Pig Oil always jacks up prices if possible.
momcat1 Rookie Author New York Posts:11 Points:18,970 Joined:May 2004	Message Posted: Sep 29, 2012 8:06:44 AM Ignore momcat1 Report Abuse That's why some stations in Dutchess County NY continue to jack the prices up, right? I guess news here still travels by Pony Express. maybe they'll get it three weeks after everybody else, when the price really goes up again. Steal from the working slobs
flagtown25 Champion Author New Jersey Posts:1,177 Points:493,155 Joined:Oct 2011	Message Posted: Sep 29, 2012 5:53:29 AM Ignore flagtown25 Report Abuse Only very slowly.
Foonz Rookie Author Ontario Posts:1 Points:245 Joined:Sep 2012	Message Posted: Sep 28, 2012 12:57:49 PM Ignore Foonz Report Abuse The decline in prices sure didn't last long. Our local prices have jumped back up 6 c/L in the last week.
txrojo2005 All-Star Author Austin Posts:767 Points:480,475 Joined:May 2011	Message Posted: Sep 28, 2012 9:04:14 AM Ignore txrojo2005 Report Abuse I agree with CapriceWagon.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:754,355 Joined:Mar 2011	Message Posted: Sep 28, 2012 8:55:27 AM Ignore clpassenubye Report Abuse not fast enough
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Sep 27, 2012 9:06:22 PM Ignore honda0105 Report Abuse not too much here. In fact, GB shows them going UP around here (at least temporarily).
Gas4Gore Champion Author Detroit Posts:2,421 Points:423,875 Joined:Jan 2010	Message Posted: Sep 27, 2012 8:53:16 PM Ignore Gas4Gore Report Abuse They go up they go down, so...
tladouceur58 Rookie Author Alberta Posts:2 Points:14,215 Joined:Sep 2012	Message Posted: Sep 27, 2012 12:53:23 PM Ignore tladouceur58 Report Abuse As a Canadian, I LOVE driving in the USA and paying WAY less for gas. Sad, because a lot of it came from here in Alberta. Our Canadian fuel taxes are what is killing us when you can buy gas that has been shipped a couple of thousand kilometers south for less than you can buy it at home.
CapriceWagon All-Star Author Washington Posts:944 Points:480,045 Joined:Feb 2008	Message Posted: Sep 27, 2012 10:06:21 AM Ignore CapriceWagon Report Abuse Inflation is killing us
jpgilmor Champion Author Houston Posts:2,170 Points:604,925 Joined:Feb 2011	Message Posted: Sep 27, 2012 5:58:36 AM Ignore jpgilmor Report Abuse Demand, says Beck “remains significantly below 2010 and 2011 levels--remaining very near 1997/98 levels. This 15 years of demand destruction cannot be explained fully by increased efficiency or increased use of biofuels and renewables (these have, at most, a marginal effect). This is truly an indication of the real and continuing trouble in our economy, high unemployment and underemployment, loss of manufacturing, and reduction of shipping.” So demand has fallen of to 1997 levels, yet we’re still seeing prices that are ruinous to the economy. One of the benefits of a recession should be that at least the prices of things like oil and food will go down. So, the better question for CNBC to ask- and answer- then is: How is the White House keeping oil prices so high? The price of oil illustrates the QE effect. Economic stimulus measures such as QE3 lower the value of the U.S. dollar and other fiat currencies. From that, investors flee paper assets for commodities such as oil, grains and precious metals. With economic growth projections low in the United States, China, and India, and with Europe in a recession, oil has reason to slip. But speculators, as a result of QE3, helped push the price of oil toward $100 a barrel. http://finance.townhall.com/columnists/johnransom/2012/09/27/obama_owns_these_oils_prices/page/full/
Donatelo Champion Author Dayton Posts:1,124 Points:293,545 Joined:Apr 2011	Message Posted: Sep 27, 2012 5:56:31 AM Ignore Donatelo Report Abuse ok
uksqueeze Champion Author San Jose Posts:1,820 Points:1,051,065 Joined:May 2004	Message Posted: Sep 26, 2012 10:50:29 PM Ignore uksqueeze Report Abuse Totally agree with kilomente! Part of the reason our taxes seem high is that our govt. turns around and subsidizes oil consumption with it. We are still paying the higher price, but through income tax rather than at the pump. And therefore there is little incentive to conserve. Stupid!
uksqueeze Champion Author San Jose Posts:1,820 Points:1,051,065 Joined:May 2004	Message Posted: Sep 26, 2012 10:48:28 PM Ignore uksqueeze Report Abuse Loose monetary policy by the fed will put long-term upward pressure on energy prices.
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Sep 26, 2012 9:02:23 PM Ignore honda0105 Report Abuse not enough... need to drop a LOT more.
txrojo2005 All-Star Author Austin Posts:767 Points:480,475 Joined:May 2011	Message Posted: Sep 26, 2012 3:20:49 PM Ignore txrojo2005 Report Abuse Gas prices have dropped in central Texas but I expect them to go up with QE3 soon.
kilomente Rookie Author Los Angeles Posts:1 Points:120 Joined:Sep 2012	Message Posted: Sep 26, 2012 12:39:21 PM Ignore kilomente Report Abuse We Americans love to complain that our fuel prices are so high, but the truth is that all of our fuel is subsidized by the government to be artificially cheap. Be thankful you're not seeing this when you pull up to the pump! And I believe that's in Euros! per liter!!!!
CapriceWagon All-Star Author Washington Posts:944 Points:480,045 Joined:Feb 2008	Message Posted: Sep 26, 2012 11:24:41 AM Ignore CapriceWagon Report Abuse We've seen about a 5 cent drop here
Donatelo Champion Author Dayton Posts:1,124 Points:293,545 Joined:Apr 2011	Message Posted: Sep 26, 2012 6:09:47 AM Ignore Donatelo Report Abuse ok
RalphHightower Champion Author South Carolina Posts:3,309 Points:690,455 Joined:May 2011	Message Posted: Sep 26, 2012 3:05:48 AM Ignore RalphHightower Report Abuse I've seen prices drop 5 to 10 cents.
garywa01 Sophomore Author Alberta Posts:130 Points:380,665 Joined:Jan 2012	Message Posted: Sep 25, 2012 11:10:18 PM Ignore garywa01 Report Abuse Still a ways to go
pricewar Champion Author Ogden Posts:1,945 Points:275,215 Joined:Jul 2012	Message Posted: Sep 25, 2012 9:22:48 PM Ignore pricewar Report Abuse wake me up when gas goes down a buck 5 cents drop... what a flipping tease!
dcone2 All-Star Author Los Angeles Posts:924 Points:85,610 Joined:Jul 2012	Message Posted: Sep 25, 2012 4:42:00 PM Ignore dcone2 Report Abuse ok
bevmill Champion Author Georgia Posts:2,582 Points:600,545 Joined:Apr 2006	Message Posted: Sep 25, 2012 4:21:48 PM Ignore bevmill Report Abuse Good, its about time.
repseng Sophomore Author Twin Cities Posts:165 Points:14,940 Joined:Sep 2012	Message Posted: Sep 25, 2012 3:31:41 PM Ignore repseng Report Abuse K
PurplepassionNC All-Star Author North Carolina Posts:838 Points:157,310 Joined:Mar 2012	Message Posted: Sep 25, 2012 2:56:55 PM Ignore PurplepassionNC Report Abuse Finally since the Fourth of July!!!!
bull2010 Sophomore Author Houston Posts:137 Points:457,630 Joined:Dec 2010	Message Posted: Sep 25, 2012 1:22:20 PM Ignore bull2010 Report Abuse still way too high! acceptable price might be 2.00/gal! most havent seen cost of living increases, only decreases! oil industry continues to price gouge the public while getting record! profits! [Edited by: bull2010 at 9/25/2012 4:24:54 PM EST]
Taxrefugee Champion Author Arizona Posts:1,407 Points:387,970 Joined:Jan 2012	Message Posted: Sep 25, 2012 12:09:04 PM Ignore Taxrefugee Report Abuse Not here in northern AZ
stinkpickle Rookie Author Iowa Posts:80 Points:2,600 Joined:Aug 2007	Message Posted: Sep 25, 2012 11:12:50 AM Ignore stinkpickle Report Abuse Prices jumped $.08 yesterday around here.
clpassenubye Champion Author Los Angeles Posts:3,359 Points:754,355 Joined:Mar 2011	Message Posted: Sep 25, 2012 9:15:07 AM Ignore clpassenubye Report Abuse not quick enough where I'm at
CapriceWagon All-Star Author Washington Posts:944 Points:480,045 Joined:Feb 2008	Message Posted: Sep 25, 2012 8:34:12 AM Ignore CapriceWagon Report Abuse Yes
puinsai808 Champion Author Honolulu Posts:3,549 Points:728,280 Joined:May 2011	Message Posted: Sep 25, 2012 8:15:46 AM Ignore puinsai808 Report Abuse old
HYEgasCA Champion Author Fresno Posts:2,111 Points:910,750 Joined:Dec 2008	Message Posted: Sep 25, 2012 8:08:13 AM Ignore HYEgasCA Report Abuse Hope and Change
DucatiRider Rookie Author Maryland Posts:70 Points:1,200 Joined:Sep 2012	Message Posted: Sep 25, 2012 7:53:22 AM Ignore DucatiRider Report Abuse So what? Prices are just going to go back up. This isn't the time to buy that new SUV.
7SPEEDY7 Champion Author Flint Posts:1,296 Points:606,650 Joined:May 2011	Message Posted: Sep 25, 2012 6:48:29 AM Ignore 7SPEEDY7 Report Abuse How Fast $$ change.......
BEngr Champion Author Illinois Posts:6,717 Points:1,581,590 Joined:May 2008	Message Posted: Sep 25, 2012 3:42:30 AM Ignore BEngr Report Abuse Well somebody got their wires crossed yesterday, because gas prices here went up by 30 cents a gallon.
WalRus49 Champion Author Boston Posts:4,080 Points:869,840 Joined:Nov 2010	Message Posted: Sep 25, 2012 3:21:21 AM Ignore WalRus49 Report Abuse Bunk!
Sneakers55 Champion Author Houston Posts:51,318 Points:2,144,150 Joined:Nov 2005	Message Posted: Sep 25, 2012 3:19:07 AM Ignore Sneakers55 Report Abuse On Sep 25, 2012 4:43:15 AM, Dailyrun wrote: >Just remember all of this crap when November >comes -- GET A GRIP and vote!! I assume you're voting Obama in November. After all, the all-time high in Houston was reached in 2008 when Bush-43 was President. A Republican.
fillerupyeoww Champion Author Columbus Posts:5,885 Points:1,650,415 Joined:Mar 2008	Message Posted: Sep 25, 2012 3:15:09 AM Ignore fillerupyeoww Report Abuse Hmmm... up .20 overnight here.
LeeFree Champion Author Pittsburgh Posts:9,156 Points:2,244,425 Joined:Jun 2005	Message Posted: Sep 25, 2012 3:07:09 AM Ignore LeeFree Report Abuse Dropped from $3.95/gal to 3.89/gal here. Better than nothing I suppose.
dorelind Rookie Author Lancaster Posts:5 Points:935 Joined:Sep 2012	Message Posted: Sep 25, 2012 3:05:58 AM Ignore dorelind Report Abuse It's sad, the next generation will think anything under $3.75 is a bargain. Everyone is hurting here.
PhilMils Champion Author Virginia Posts:6,257 Points:1,186,025 Joined:Dec 2008	Message Posted: Sep 25, 2012 3:04:55 AM Ignore PhilMils Report Abuse It was to be expected.