Spokane7
59°
January 6, 2012 in Business, City, Idaho
Gas falls below $3 a gallon at some stations
The average price of regular gasoline in Spokane is $3.19 a gallon, according to AAA. But some local stations are pumping for as little as $2.99 a gallon, GasBuddy.com reports.
The average price in town is down from $3.58 a month ago, but up from $3.12 a year ago, according to AAA.
A gallon is selling for an average of $3.02 in Coeur d’Alene, down from $3.46 a month ago. A year ago, gas in the Lake City was selling for $2.93, on average.
At least one station in Coeur d’Alene had $2.96 gas this week, and many were at $2.99 a gallon, GasBuddy.com reported.
Nationally, gas prices hit an average of $3.35 a gallon today, the highest ever for this time of year.
Prices are rising again after falling in the last months of 2011. Motorists are buying less gas than they did a year ago, but pump prices are rising with higher oil prices.
Tom Kloza, publisher and chief oil analyst at Oil Price Information Service, expects pump prices will average between $3.75 and $4.25 a gallon this year. They could be around $4 a gallon by spring.
The price of benchmark U.S. crude rose 19 percent in 2011 to an average of about $95 a barrel. Oil prices jumped above $100 a barrel this week on growing tension in the Persian Gulf. Iran has threatened to block the Strait of Hormuz, if the U.S. and other nations enforce more economic sanctions against Iran because of its nuclear program. The strait provides the only way out of the Persian Gulf for oil tankers carrying one-sixth of the world’s exports.
Northwest wheat 
Dazzeetrader11 on January 06 at 6:46 p.m.
$1.70 when Obama weakened the dollar when he took office. This continues to be the story…not the price of gas. SUmmer’s coming though. The price will rise to $4 for regular according to my friends.
monkeyman on January 06 at 7:44 p.m.
Perhaps you and your friends could buy a few tankers worth of gas???
meadman on January 06 at 8:30 p.m.
we are also having no snow this winter – that wasn’t the case when Obama first took office: evidence of failed policies!
lewis8457 on January 06 at 8:58 p.m.
oh for sure gas will go beyond 4 bucks this summer, those oil companies need big bonuses.
johnclarke on January 06 at 9:09 p.m.
Dazzeetrader11 on January 06 at 6:46 p.m.
$1.70 when Obama weakened the dollar when he took office. This continues to be the story…not the price of gas. SUmmer’s coming though. The price will rise to $4 for regular according to my friends.
http://news.consumerreports.org/cars/2008/01/us-gas-pricesja.html
Um yeah, the price of gas was 3.08 in Jan 2008. Those friends, are they by chance voices in your head ?
johnclarke on January 06 at 9:17 p.m.
http://money.cnn.com/2007/05/21/news/economy/record_gas_monday/
Oh, and look at prices in 2007.
Traveler on January 06 at 9:49 p.m.
But Dazzee, the U.S.’s top export is now oil (http://www.spokesman.com/stories/2011/dec/31/top-us-export-this-year-fuel/)! Quick, tell me how to find a downside to Obama for that!
Here’s a bit from that article that you should (but probably won’t) find educational:
“There’s at least one domestic downside to America’s growing role as a fuel exporter. Experts say the trend helps explain why U.S. motorists are paying more for gasoline. The more fuel that’s sent overseas, the less of a supply cushion there is at home.
Gasoline supplies are being exported to the highest bidder, says Tom Kloza, chief oil analyst at Oil Price Information Service. “It’s a world market,” he says.”
If Obama really cared about Americans, he’d find a way to stop those greedy oil companies from selling off our treasured national, God-given resources to non-American furriners.
RedCedar on January 06 at 10:01 p.m.
Fuel prices are dropping because the global economy is still slow, and the US dollar is benefiting from the Euro fluster-cluck. How long either of those factors will last is anyone’s guess. Gas is still 10X what it was when I was a kid, and wages haven’t gone up 10X. God’s not making any more oil, and more and more people world-wide are getting rich enough to buy things that run on oil.
The bottom line is “enjoy it while you can”. These are the good old days.
johnclarke on January 07 at 9:29 a.m.
http://en.wikipedia.org/wiki/2000s_energy_crisis
Oh, and look at oil prices through the entire Bush administration. I love all the “reasons” for gas prices posted above. None of you, including me know exactly WHAT drive gas prices but I know what does not. President Obama.