Gasoline prices could dip under $3 again
 

Gasoline prices slip as analysts say peak nears

Dan X. Mcgraw - FUELFIX - April 12, 2012

We will see --Ed.

Analysts say rising gasoline prices might be over as many large metro areas, including Chicago and Los Angeles, appear to have hit their gas peaks earlier this year. Analysts say the news likely means lower prices for drivers in the coming months.

According to AAA gas gauge, gasoline prices dropped an average of 4 cents in the 28 states that saw a weekly decrease at the pump this week. Prices increased by an average of 2 cents in the 21 states where prices rose.

Four states (California, Indiana, Michigan and Ohio) have seen a multi-cent decrease during the past month, leading many analysts to say national prices are at their peak.

“Gasoline prices in the hardest hit areas have finally shown signs of relief, with gasoline prices falling now in Chicago as they have for a few weeks in California,” said Patrick DeHaan, a gasoline analyst for GasBuddy.com.

DeHaan said refineries are slowly coming out of maintenance and boosting production that could cause gasoline prices to peak sooner than in prior years.

Texas doesn’t appear to have peaked out just yet, analysts said.

Gulf coast refineries are still making the switch to summer-blend gasoline that will likely cause an increase at the pump, Tom Kloza, the chief analyst at Oil Price Information Services.

Houston prices could rise by as much as 25 cents due to the switch, Kloza said. Last year, drivers saw an 8- to 10-cent rise at the pump as refineries switched to the more expensive summer-blend gasoline.... [Read More]

Re: Gasoline prices could dip under $3 again
 

Prices here near me dropped from 3.99 to 3.73 in 36 hours. I was amazed.

Re: Gasoline prices could dip under $3 again
 

I doubt it will happen. The cost of wholesale gasoline is going to have to drop by 75 cents a gallon and unless we see oil drop at least $25 to $30 a barrel we will never get close to $3.00 gas.

Last I looked oil is priced at $104 for the May - June contracts. Throw in the summer driving season and I see us staying above $100 a barrel until at least Oct or November. And we all saw how much gasoline dropped in price last fall ? :rolleyes:

Re: Gasoline prices could dip under $3 again
 

You could drop gas prices to $0.07/gallon. Venezuela accomplished it already. All you have to do is nationalize the fuel industry so that you don't have a dozen oil execs plunderimg whole countries.

Re: Gasoline prices could dip under $3 again
 

To do that you have to subsidize it with exports. If the USA could do that gas would be much cheaper because the global supply would be much greater.

Re: Gasoline prices could dip under $3 again
 

I think gasoline is $0.37 a gallon in Venezuela

Re: Gasoline prices could dip under $3 again
 

If you want more SUVs that's a great idea. :eyebrow:

Re: Gasoline prices could dip under $3 again
 

I would be 100% okay with banning SUVs.

Re: Gasoline prices could dip under $3 again
 

Thats kind of harsh.. I think a secure 55mph speed governor and an occasional flogging of the driver would be plenty of punishment for abusing mother Gaia.. set the limit per SUV at 4500lbs

Re: Gasoline prices could dip under $3 again
 

Didn't Brock Yates say in Cannonball Run that no state in the union has the death penalty for speeding except maybe Ohio. :p