Gas prices going back down???

[ChickenToes]

Gas is always more expensive in the summer. Don't expect it to drop much, if at all.

 

[gamebirdsonly]

staying the same here $4.09.

 

[tomstephens]

I wouldn't expect to see prices drop substantially ever. Absolute best case scenario we might see the national average drop to $3.50. The reality though gas prices will continue to go up as long as the value of the dollar drops. When you have a commodity that's traded in a particular currency and the value of that currency drops the price of the commodity must go up. It's very basic market economics.

Oil hit a peak again recently just shy of $140/barrel. And I would bet that you won't see it drop below $110/barrel, probably ever. Offshore drilling and ANWR drilling is WAY too far in the future to have a substantial impact right now. If they started the projects now we're 12+ years from a worthwhile production and they would be such a small increase (in the scope of world demand) it will have little to no effect on prices.

Oils prices realistically are hitting the prices they should have been for a long time. Time we learn conservation the way the rest of the world has had to because they didn't get the luxury of insanely cheap gas.

Percentage wise oil companies and bringing in relatively modest profits 7-8% as opposed to companies like...Google with operating profits in the range of 18%+. It's not that oil companies are ripping us off so much. They are a company and have the rights to make money. I'd hate to see the government take money (windfall profits tax) from a successful company and give it to banks who are unsuccessful. The whole point of a freemarket is letting businesses that fail...fail.

 

[coffeemama]

Geez-I'd take the $4.05 any day! Our is $4.29 here.

 

[Chick_a_dee]

It went from 1.34/litre, to 1.28/litre I believe, here in the Bowmanville area of Ontario.

I think I'll fill it up from half tonight baha.

 

[redoak]

$4.11 yesterday and $4.11 here today at cheapest place. When I was on vacation in Ireland cheapest was 1.29 euro per liter a week ago.

 

[Redfeathers]

Quote:
Not to steal the post, but how was your trip to Ireland. It's my dream to go, so I always like to hear other peoples stories.

 

[LilPeeps]

I payed $4.39 at one station about a week ago, payed $3.93 yesterday at a station across town.

 

[can you hear me now?]

we are at 3.66 here from 3.74 in Missouri.

 

[amyquilt]

It was down $.06 yesterday to $3.83 in the Texas Panhandle.