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Gas prices falling
Published Friday, July 25, 2008
Drivers in Fergus Falls are starting to see the effect of sinking oil prices, which brought the cost of regular gasoline down to $3.68 in some parts of town Friday.
“Now, as crude oil is coming down, we’ve seen some relief at the pump,” said Gail Weinholzer, director of public affairs for Minnesota and Iowa AAA. “I think we’ll continue to see some relief but I wouldn’t expect anything too substantial.”
Light, sweet crude for September delivery settled at $123.26 a barrel on the New York Mercantile Exchange Friday, the Associated Press reports. Earlier it dropped as far as $122.50, its lowest point since June 5.
The falling crude prices of the past two weeks finally had an effect in Fergus Falls Friday. At M and H along Cascade and Washington, the price of regular went from $3.85 Thursday night to $3.77 by 7 a.m. Friday and $3.68 by noon. Casey’s and Stop N’ Go along Vernon and Holiday along West Lincoln also posted regular at $3.68 Friday afternoon.
Gas prices in Fergus Falls are lower than the state average, which AAA records as $3.79. The state average a year ago was $2.94.
Analysts credit cheaper crude in part to less demand by American drivers. People are starting to drive less than earlier this summer, according to the Associated Press, and filling station operators have lowered the price of regular by an average of two cents to attract more business.
Comments
The Daily Journal is happy to host community conversations about news and life in Fergus Falls and the surrounding area. As hosts, we expect guests will show respect for each other. That means we don't threaten or defame each other, and we keep conversations free of personal attacks. Witty is great. Abusive is not. If you think a post violates these standards, don't escalate the situation. Instead, flag the comment to alert us. We'll take action if necessary. It's not hard. This should be a place where people want to read and contribute -- a place for spirited exchanges of opinion. So those who persist with racist, defamatory or abusive postings risk losing the privilege to post at all.Posted by Brandon (anonymous) on July 25, 2008 at 11:13 p.m. (Suggest removal)
All I have to say is... woooooooooooooooooooooooooooooooot!
Posted by Norse (anonymous) on July 26, 2008 at 10:30 a.m. (Suggest removal)
No, Fergus Falls gas prices are lagging behind the decrease in price elsewhere in the state. Friday the price of a gallon of 87octane was 3.52 in the northern suburbs of the mpls metro area.
Posted by Brandon (anonymous) on July 26, 2008 at 12:54 p.m. (Suggest removal)
Norse: Could this be because they have more people, so they use more gas, and must refill their stations more often? The gas stations here are going to charge enough to make a profit for the gas they purchased.
Posted by Norse (anonymous) on July 26, 2008 at 1:59 p.m. (Suggest removal)
Most gas stations DO NOT own the gasoline in their tanks, the 'company' delivers it to the underground tanks, and retains ownership until it passes through the pump hose into the tank of your car.....The flip side however remains true...These same gas stations RAISED the gas prices as soon as the law allowed, when the 'market' price was increasing. Gouge...Who is responsible?
Posted by Granny (anonymous) on July 26, 2008 at 6:06 p.m. (Suggest removal)
Coming home from the cities this afternoon Brandon, Mn. 3.59
cheapest we saw.
Posted by Sumwun (anonymous) on July 26, 2008 at 7:09 p.m. (Suggest removal)
Wow...gee, thanks Gas Man. You've trained your customers to think $3.69 is a cheap price for a gallon. You've got everyone in the country conditioned the way you want. Show me something under $2.00 and quit ripping us all off so you can buy another mansion or yacht.
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