The Oil Drum | Another gentle cough!

24 comments on Another gentle cough!

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ericy on October 21, 2005 - 9:49pm

Where I am (in the D.C. area), gas prices are down to about $2.79. Before the hurricanes, I think the price was somewhere in the neighborhood of $2.50 or so. A $0.30 difference isn't going to destroy a lot of demand (at least compared to what we had before Katrina).

I guess I ought to add that there does seem to be a sense that people want to get rid of those big SUVs, but the resale prices have cratered, so they are hard to get rid of. With declining gas prices, I suppose some folks with these things think that they just need to tough it out a little more. That trend is going to end quite soon, I think.

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Engineer-Poet on October 22, 2005 - 9:25am

New sales have also cratered, which means that the ones which wear out are unlikely to be replaced.

This should have been done by energy policy immediately after 9/11, but at least it's a start.

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BalticMan on October 22, 2005 - 1:42pm

In response to Engineer Poet's comment on those big SUVs ("New sales have also cratered, which means that the ones which wear out are unlikely to be replaced.")

Hmmm...let's say that $3 per gallon gasoline is the trigger point for making SUV owners and owner-wanna-bes re-think their choice.

What's next on the scale of gasoline usage -- smaller SUVs? Pick-ups? Minivans? And what might be a relevant price point at which those owners start re-thinking? $4?

Anybody have any thought-provoking data?

Here in a small town in Lithuania, I have begun to notice the occasional cross-over or small SUV parked in the typical 10- or 12-vehicle parking lot. $4 per gallon gasoline, roughly. And yet those larger vehicles are appearing...

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24 comments on Another gentle cough!

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