Gasoline has dropped as low as $1.81 (cash payment) in Hoosierland

The price of Gas could go down between 1.7 and 4.6 cents per gallon if the White House did not oppose the bill to allow US exports:

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The White House seems to have no issue allowing Iran to increase exports - go figure.

^ ^ ^ ^ And JPhelan just did ^ ^ ^ ^

Damn you, Obama, and your $1.85 gas!

Like I said.... What about the last six years?????

Yes, damn you, PJ, what about the last six years?

We can argue all day long if the policy is worth the price, but that's a discussion for another day. Here are the issue in California.

--Unique (sometimes called Beautique) gasoline blends required by state law. This is not only expensive, but there are few refiners who can make this blend.

--Frequent supply shortages. When a California refinery goes down, there are few out of state refineries that can pick up this volume, since few refineries have the capabilities to make this unique California blend. This causes California specific shortages and prices spike.

--High taxes.............about 35 cents higher than most states

--Ethanol. It's extremely expensive to ship, and it must ship via truck and rail. It's hydrophilic, or water loving, and it would attract and couple with any water in a gasoline type pipeline. California produces little ethanol, thus California refiners must buy most of their ethanol from the Midwest. That's one pricey transport expense, pushing up California E10 Gasoline (10% ethanol) prices up about 3-4 cents per gallon vs Midwest E10 prices.

Does Drmilled have any idea what an ultra deepwater well costs to drill? If he did, he wouldn't argue that gas should cost $1 per gallon.

I am not arguing - I am stating that our government has done nothing to "urge" OPEC to quit gouging the U.S. and the rest of the world. If not for the U.S., the Arab nations would not have refineries and would still be toiling the sand - and now, as a thank you for helping build and develop their refineries, the OPEC nations gouge the U.S.

I spoke too quickly about our Indianapolis gasoline prices as they just jumped from about $1.88 to $2.23 (cash payment). I did some research, and the $1.88 pricing made no sense for the retailers. Gasoline "rack" prices have been consistently dropping to the current number of $1.60 per gallon. Add to that our 39 cents per gallon in taxes, and the retailer's cost is already at $1.99. Then add in the local trucking costs of about a nickle (the terminal is only 5 miles away), and their cost is about $2.04 per gallon.

While I preferred the $1.88/gallon price, it didn't make any sense and could not be expected to last. Obviously a local price war happened, but that battle just ended. At $2.24/gallon, the retailer is making about 19 cents per gallon.

and this morning it went back up to $2.29 from $1.89, just because they can.

RE: the bold. Just how the hell do you propose this Govt. do anything to influence OPEC's pricing of world crude? I'll answer for you and I'm surprised I have to, there is not one single thing the US(no matter the sitting pres.) is capable of doing, plain and simple. Nada.