Archive for October, 2008
October 27th, 2008
With the continued drop over the weekend, the Rockford metro average is as low as it’s been since April, 2007, back around the time this whole mess was starting. Oil is also around levels from back then, meaning we’re finally back to some equilibrium in pricing.
Bob Trojan and others have asked me to chart the rise and fall of oil vs. gas prices, and I finally found a great chart online, via gasbuddy.com. It doesn’t chart local prices, just state and national (but the state average has always been close to Rockford’s). Also, the gas data relies on people posting prices on the Web site, not AAA/OPIS’s data, but it’s still instructional. It shows, as I’ve said all along, that gas prices never jumped up near as much as oil did, and were slower in coming down to make up for that:
Here are today’s prices (as always, courtesy of AAA’s fuelgaugereport.com):
Gasoline: Rockford dropped three cents to $2.72 a gallon. We have the third-highest gas prices in the state. The Illinois average dropped almost three cents to $2.83. The national average dropped three cents to $2.67. Illinois has the 13th-highest gas prices in the nation, including the District of Columbia.
Diesel: Rockford dropped five cents to $3.39 a gallon. Unfortunately, we’ve seen that level a lot more recently (this February). We have the ninth-highest diesel prices in the state. The state average dropped almost six cents to $3.56. The national average dropped four cents to $3.44. Illinois has the 10th-highest diesel prices in the country.
October 23rd, 2008
First off, here’s a really cool interactive graphic by the AP, showing gas prices by state using the data from AAA I report.
Here are the numbers (as always, courtesy of AAA’s fuelgaugereport.com):
Gasoline: Rockford dropped another three cents to $2.84 a gallon. We have the third-highest gas prices in the state, dropping below Quad Cities. We’re also 88th in the nation, which is about where we’ve been for a while. The Illinois average dropped three cents to $2.99, breaking the $3 mark. The national average dropped four cents to $2.82. Illinois has the 12th-highest gas prices in the nation, including the District of Columbia.
Diesel: Rockford dropped five cents to $3.50 a gallon. We have the eighth-highest diesel prices in the state. The state average dropped three cents to $3.71. The national average dropped more than two cents to $3.58. Illinois has the ninth-highest diesel prices in the country.
October 23rd, 2008
For those of you who missed it, Chicago Rockford International Airport could be close to announcing a new warm-weather destination.
Bob O’Brien won’t say the airline or the destination, but see if you can line up the hints:
1. O’Brien said it’s a “southern” destination.
2. O’Brien said it’s a destination more than 2,500 people have emailed him about recently. He’s previously said 2,500 people have emailed him about Fort Myers during a public push to get flights there.
3. Whenever he talks about Fort Myers, he is careful to say “the Fort Myers area” implying that service there might be to an alternative airport.
4. He said if flights to this new destination do well, we could get flights to Myrtle Beach next spring from the same airline.
I’m sure some of you already know who it is from these hints. I can’t confirm or deny at this point, but if my hunch is right, it would be an interesting addition.
October 21st, 2008
WIFR is reporting that the airline looking to start flights from Rockford to the Fort Myers, Fla., area has said no “because of market conditions.” But airport honchos Bob O’Brien and Mike Dunn both tell me that’s news to them - that the airline hasn’t said no to them yet. O’Brien said tonight that he even talked to airline officials today and felt like RFD still had a shot at the long-sought service this winter.
I have a guess at which airline it is, but can’t share that yet. They haven’t returned my calls, so I don’t know that they’re talking publicly. I’ll monitor the story and let you know when I find out more…
October 20th, 2008
(Thanks to Cranky Flier for the heads up.)
The head of the Transportation Security Administrations said earlier this month that the ban on liquids could be relaxed by this time next year because they have equipment that can detect dangerous liquids. That could be a welcome end to the 3 ounce, 1 plastic bag rule. Travelers everywhere cheer. But wither the “tiny bottles sold at airport gift shops for outrageous amounts” market?
October 20th, 2008
OPEC is talking about cutting oil production to stop the slide in prices, with suggestions that it could be in the neighborhood of 1 to 2 million barrels per day.
This while, “Deutsche Bank AG lowered its 2009 crude-oil price estimate by 35 percent to $60 a barrel, citing the possibility of a `’major world recession.’” Analysts say if OPEC limits its cut to 1 million, oil could still fall below $60.
The always entertaining Phil Flynn thinks OPEC can’t push prices up above $80 a barrel for a sustainable length of time, unless the economy really turns around or the weather does something funky.
“Long term oil is headed to $50 but with the swings we could see sizeable upswings along the way,” Flynn said.
October 20th, 2008
We finally hit a few milestones this weekend. The average gas price for the Rockford metro area fell below $3 a gallon, then continued to fall to its lowest level of the year. Now, gas in Rockford costs less than it did a year ago.We’re even close to overtaking the national average.
I see prices in the city at $2.89 a gallon this morning, suggesting the metro average will fall further. How far will this drop?
Here are the numbers (as always, courtesy of AAA’s fuelgaugereport.com):
Gasoline: Rockford dropped three cents to $2.93 a gallon. We still have the second-highest gas prices in the state - one cent above East St. Louis while 36 cents behind Chicago. The Illinois average dropped three cents to $3.09. The national average dropped three cents to $2.92. Illinois has the 11th-highest gas prices in the nation.
Diesel: Diesel, not so much. Rockford rose more than a cent to $3.68 a gallon. A year ago, it was only $3.16 - this shows how global demand for diesel and related fuels is even stronger than for gasoline. It still has dropped 40 cents in the past month, which is at least some relief. We have the fifth-highest diesel prices in the state. The state average dropped more than four cents to $3.76. The national average dropped three cents to $3.64. Illinois has the ninth-highest diesel prices in the country.
October 16th, 2008
With gas prices now hitting $2.99 around Rockford, the metro average should drop significantly when AAA updates numbers tomorrow. The last time we had a metro average below $3 a gallon was Feb. 1, based on a brief drop at the end of January. Could we be back there this week?
Before today’s drop, Rockford was 79th of the nation’s 250 metro areas in gas prices. Less than half, 103, of them were below $3 a gallon. Only 2 - in Hawaii and Alaska - were still above $4.
Here’s where prices were at before this morning’s drop (as always, courtesy of AAA’s fuelgaugereport.com):
Gasoline: Rockford dropped more than five cents to $3.14 a gallon. We still have the second-highest gas prices in the state - eight cents above Quad Cities while 33 cents behind Chicago. The Illinois average dropped four cents to $3.24. The national average dropped more than four cents to $3.08. Illinois has the 12th-highest gas prices in the nation.
Diesel: Rockford dropped more than six cents to $3.72 a gallon. We have the seventh-highest diesel prices in the state. The state average dropped four cents to $3.88. The national average dropped more than three cents to $3.76. Illinois has the ninth-highest diesel prices in the country.
October 15th, 2008
Reports of gas around $2.99 in Belvidere and South Beloit now. Rockford proper is down to $3.09. With oil dropping another chunk today, that should send further relief down the line in prices at refineries, terminals and at the pump. I perhaps will have to eat crow on my earlier predictions that we weren’t going to see gasoline under $3 in Rockford.
Don’t get too used to it, though. We’re entering the low-demand season and once travel picks up next year, prices will likely rebound. Unless we have a further plummeting of oil caused by ongoing economic crises. And then, we’d have other problems to worry about…
October 15th, 2008
Early reports are that wholesale gasoline prices out of Chicago are back down today. We’ll see if they stay that way. If so, then you’ll see a continuing drop out here.Here’s the latest (as always, courtesy of AAA’s fuelgaugereport.com):
Gasoline: Rockford dropped more than four cents to $3.19 a gallon. We still have the second-highest gas prices in the state - eight cents above East St. Louis while 29 cents behind Chicago. The Illinois average dropped more than four cents to $3.28. The national average dropped more than three cents to $3.13. Illinois has the 12th-highest gas prices in the nation.
Diesel: Rockford dropped half a cent to $3.78 a gallon. We have the seventh-highest diesel prices in the state. The state average dropped almost a cent to $3.92. The national average dropped two cents to $3.80. Illinois has the ninth-highest diesel prices in the country.
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