General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe fix is in: "Summer gas prices - as good as they'll get"
http://money.cnn.com/2012/05/25/news/economy/gas-prices/index.htm?source=cnn_binNEW YORK (CNNMoney) -- As the summer driving season gets underway, most Americans are enjoying lower gas prices than they might have expected when the spring began.
And experts say that despite oil futures recently falling to below $90 a barrel for the first time since November recently, the steady slide in gas prices might not extend much further.
But for the most part, the 7% drop in gas prices since the start of April is probably most of the relief that drivers can hope for.
Not all drivers are seeing the break on prices that the national average would suggest. West Coast drivers are still paying close to the same price as two months ago. Tight inventories west of the Rocky Mountains have kept prices out there high -- $4.28 in California, $4.25 in Oregon, and $4.27 in Washington State.
mike_c
(36,281 posts)eom
pscot
(21,024 posts)We live 25 miles from a refinery, which, like others along the West Coast, has been shut down for "maintainence".
Proud Liberal Dem
(24,452 posts)It's not cracked $4.00 for 1-2 months here since the initial "buzz" started about record-smashing gas prices earlier in the year. USA Today had a front page story over the weekend that many analysts are less certain about the prospect of $5/gal gas than they were earlier due to weak demand.
AndyTiedye
(23,500 posts)Even the cheap stations are over $4.30.
Proud Liberal Dem
(24,452 posts)I'm sure that $4/gal gas will be back here at some point too. I'd love to see gas to be back down below $3 but I don't know if that will happen anytime soon. I feel as though we are being conditioned to accept higher and higher gas prices even as car manufacturers keep the MPG relatively low for years to come- or at least as long as people keep allowing Republicans and their corporate masters to prevent us from making any kind of reasonable progress.
AndyTiedye
(23,500 posts)Mc Mike
(9,115 posts)Archae
(46,369 posts)It's still $3.71 across the street.
"...might not extend much further."
bklyncowgirl
(7,960 posts)To be perfectly honest I don't think anyone understands this stuff except that we're at the mercy of the speculators, that's for sure.
pansypoo53219
(21,005 posts)i happened to have breakfast in crandon, WI, next to a closed gas station, the price was stuck on $1, 26.
Selatius
(20,441 posts)Roselma
(540 posts)$3.33/gal in my in-law's neighborhood in Glen Burnie, MD
oneshooter
(8,614 posts)Used the point on my Kroger card, and got it down to $3.19 per!
This is west of Houston, Texas
Oneshooter
Tennessee Gal
(6,160 posts)MSNBC .... that gas prices are predicted to fall through the summer.
It is $3.19 gallon for regular here.
quaker bill
(8,225 posts)They are called the bulls. There are experts everyday that say commodities are heading down, and they are called the bears.
The bears have been taking the bulls lunch money nearly everyday for 8 weeks now, and they did it again today. Oil and PMs are down, the dollar is up and the Euro is still looking shaky.
I would guess we have most of the summer with the bears having the upper hand on commodities. When silver closes below $25 I will begin thinking the bottom is near, if it gets to $20 I will be in the market for a quantity. Of course, I melt it down and make jewelry with it, so I can make good money at $20 an ounce.
As long as the Euro crisis continues, oil prices will fall because the dollar looks like a better bet. I expect gas to stay in the $3.00+ range but it surely could get a bit closer to $3.00 before the line bends the other way.