Gas prices expected to drop 50 cents by summer

Swede

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Sun May-08-11 11:39 AM
Original message

Gas prices expected to drop 50 cents by summer

Some relief from suffocating gas prices will likely arrive just in time for summer vacation. Expect a drop of nearly 50 cents as early as June, analysts say.

After rocketing up 91 cents since January, including 44 straight days of increases, the national average last week stopped just shy of $4 a gallon and has retreated to under $3.98. A steady decline is expected to follow.

http://www.businessweek.com/ap/financialnews/D9N2QJ680.htm

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plumbob

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Sun May-08-11 11:42 AM
Response to Original message

1. Watch how "surprised" these same guys will be when it's back over

$4 by then.

"Unexpected" turmoil in the Middle East
"Surprise" weakness in the dollar
"Unexpected" downtime to take refineries even lower than their current 88% utilization rate.

Wish I had a dollar every time these doofuses missed it.

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Swede

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Sun May-08-11 11:47 AM
Response to Reply #1

2. Jack it up a dollar,drop it down 50 cents.

We are all SO grateful.

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Mojorabbit

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Sun May-08-11 03:33 PM
Response to Reply #1

8. Exactly. nt

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Shagbark Hickory

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Sun May-08-11 11:53 AM
Response to Original message

3. Didn't the same media outlet predict $5 a gal gas by june only week ago? nt

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demosincebirth

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Sun May-08-11 11:54 AM
Response to Original message

4. How do they know...they're only right when it goes up. Sounds to me

that someone is doing some price fixing if they can make a statement like that.

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notadmblnd

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Sun May-08-11 12:11 PM
Response to Original message

5. they are down 30 cents in my area just since Thursday

Thursday morning prices were around 4.29. Yesterday I saw one station at 3.99. Most others were at 4.09.

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izquierdista

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Sun May-08-11 01:05 PM
Response to Original message

6. Steady decline

Never mind that the futures price was down 35 cents just last week (http://futuresource.quote.com/quotes/chart.action?symbol=XRB+N1), just expect a slow, steady decline.

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Lugnut

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Sun May-08-11 01:14 PM
Response to Original message

7. Whoop dee doo.

Even if it drops $.50 we're still getting hosed.

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Shagbark Hickory

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Mon May-09-11 01:50 PM
Response to Original message

9. Just a false alarm, oil's back up above $102

http://www.oil-price.net/

So much for the 50 cents bullshit

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xchrom

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Mon May-09-11 02:08 PM
Response to Reply #9

11. +1

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kick-ass-bob

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Mon May-09-11 01:52 PM
Response to Original message

10. That's to prove that Big Oil needs to keep those govt handouts. n/t

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