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GasBuddy News Article

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Gas price likely won't set record this summer

Philly.com -- NEW YORK - Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.

The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an initial estimate of $3.95 and below 2008's record average of $3.80.

The Energy Information Administration's revised forecast is encouraging news for the economy. Some economists blame high pump prices for so-so consumer spending this year. They were also seen as a factor in the loss of 35,000 retail jobs in February and March.

Gasoline prices soared 20 percent from January to early April.

A few analysts warned drivers they could pay as much as $5 this summer, eclipsing the 2008 record of $4.11 per gallon.

Not anymore. The price of ben


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Submitted May 09, 2012 By: Cakes77
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas price likely won't set record this summer Back to Topics
REPLIES (newest first) Post a Reply
abacus44
Champion Author Toms River

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Message Posted: May 10, 2012 12:01:49 AM

Dream on!
Rageagainsttm
Champion Author Tampa

Posts:11,359
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Joined:Jul 2007
Message Posted: May 9, 2012 11:56:21 PM

need to set record low price
wz
Champion Author Twin Cities

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Joined:Feb 2009
Message Posted: May 9, 2012 11:55:34 PM

After the European elections (a socialist sweep), prices are again trending downward. That is driven by the expectation of lower job growth (or more job losses) in a socialist economy as Europe continues its road to ruin.
Rageagainsttm
Champion Author Tampa

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Message Posted: May 9, 2012 11:55:32 PM

too bad
Garyallman
Champion Author Honolulu

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Message Posted: May 9, 2012 11:54:03 PM

No company backs away from making a killer profit, it's not over yet! They just want you to think things are better, they want you to park the Prius and jump back into the V8 sports car, that's when they will whack us all again!
RBob
Champion Author Portland

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Message Posted: May 9, 2012 11:53:25 PM


I will believe it when I see it. The barons and speculators will do almost anything to make a few extra billion to line their pockets and fund the super PACs.

Thomtec
Champion Author Nashville

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Message Posted: May 9, 2012 11:51:45 PM

We will see. No one can predict any of this pricing.
Garyallman
Champion Author Honolulu

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Points:77,140
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Message Posted: May 9, 2012 11:50:43 PM

Now is the time to preload your gears and set your backlash, cause of you think a lion stops attacking after tasting blood, you will be sadly mistaken. They made a killing once, they'll do it again.
10k
Champion Author North Carolina

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Message Posted: May 9, 2012 11:46:36 PM

and we are supposed to believe anything the EIA says ??..
joel27nc
Champion Author Raleigh

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Message Posted: May 9, 2012 11:45:23 PM

Any reason to raise prices!
Matt G
Champion Author Boston

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Message Posted: May 9, 2012 11:44:36 PM

Good
Garyallman
Champion Author Honolulu

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Joined:Apr 2012
Message Posted: May 9, 2012 11:43:56 PM

Hah! I wouldn't bet on it, you should be ready for it to double, kinda like paying your bills a month ahead of time. Better hope and pray you can jump into a car that won't financially eat you alive.
eromitlab
Champion Author Huntsville

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Message Posted: May 9, 2012 11:42:28 PM

Of course not... it's an election year and the oil companies don't want their profits and energy prices to become a general election issue.
GassyKat
Champion Author Wisconsin

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Message Posted: May 9, 2012 11:37:58 PM

We'll see
ricebike
Champion Author New Jersey

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Message Posted: May 9, 2012 11:37:46 PM

it's an election year...
etop8222
Veteran Author Reading

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Joined:Apr 2011
Message Posted: May 9, 2012 11:35:37 PM

I never thought it would. It's controlled, just like the stock market.
HYEgasCA
Champion Author Fresno

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Message Posted: May 9, 2012 11:33:40 PM

good
jimgraham
Champion Author Akron

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Message Posted: May 9, 2012 11:33:26 PM

The lull before the storm..I hope the storm is oil \/ dropping \/dropping \/ dropping \/ down \/ to $35!! Or less \/...

[Edited by: jimgraham at 5/10/2012 12:33:46 AM EST]
Eugenian
Champion Author Oregon

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Message Posted: May 9, 2012 11:33:26 PM

Might as well get used to high gas prices. The oilagopoly won't let them drop far.
jkpsr
Champion Author New Jersey

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Message Posted: May 9, 2012 11:32:25 PM

World oil prices are falling.
edgarCA
Champion Author Oakland

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Message Posted: May 9, 2012 11:32:11 PM

Goodnight.
Mr Tex
Champion Author Dallas

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Message Posted: May 9, 2012 11:31:29 PM

So were all those doom-and-gloom reports just to scare us?
HailstormCA
Champion Author San Diego

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Message Posted: May 9, 2012 11:31:12 PM

Take the bus.
gmcgas
Champion Author Atlanta

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Message Posted: May 9, 2012 11:31:09 PM

yep
labombaOH
All-Star Author Ohio

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Message Posted: May 9, 2012 11:29:07 PM

Give me a R---E---f---i--n----e-----r-------y------Together GOPers........FIRRRRRRRRRRRRRRRRRRRE.Can you feel the love they are gona send us.
bra0712
Champion Author Arizona

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Message Posted: May 9, 2012 11:28:56 PM

It will still be high
gus8441
Champion Author Baltimore

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Message Posted: May 9, 2012 11:26:26 PM

good...i suppose
DEG
Champion Author Las Vegas

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Message Posted: May 9, 2012 11:26:07 PM

Memorial Day is just around the corner and prices are likely to go up.
ShutRBug
Champion Author Ontario

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Message Posted: May 9, 2012 11:25:54 PM

Good news...
frostyWV
Champion Author West Virginia

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Message Posted: May 9, 2012 11:24:40 PM

given enough time the speculators will get it there.
kgbellman
Champion Author Ann Arbor

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Message Posted: May 9, 2012 11:23:57 PM

Dropping up here - currently 3.54 up here at Sam's
Lerxst17
Champion Author Dallas

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Message Posted: May 9, 2012 11:23:57 PM

Fine by me, but interesting that the forecasters change their minds ever 10 minutes.
nztyraider
Champion Author Nevada

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Message Posted: May 9, 2012 11:22:20 PM

Ah too bad for the oil tycoons.
jem069
Champion Author Detroit

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Message Posted: May 9, 2012 11:22:16 PM

Ok
EVBuddy
Champion Author Nevada

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Message Posted: May 9, 2012 11:21:32 PM

Thank goodness
tedjm1
Champion Author New York

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Message Posted: May 9, 2012 11:20:41 PM

What will be will be!
KrsnaDragon
Champion Author Montreal

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Message Posted: May 9, 2012 11:20:06 PM

Lower gasoline prices makes for good news.
2bigtanks
All-Star Author Akron

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Message Posted: May 9, 2012 11:18:41 PM

If you say so.
btex49
Champion Author Austin

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Message Posted: May 9, 2012 11:18:28 PM

Good news...hopefully.
Bigwaynef
Champion Author South Carolina

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Message Posted: May 9, 2012 11:18:07 PM

Oh c'mon $2.00is not that far off...
crreed1
Champion Author West Virginia

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Message Posted: May 9, 2012 11:17:25 PM

we will see
thuathienhue
Champion Author Michigan

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Message Posted: May 9, 2012 11:17:25 PM

Hope not
granitestater
Champion Author New Hampshire

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Joined:Oct 2008
Message Posted: May 9, 2012 11:17:00 PM

Let it keep going down at least for the Memorial Day holiday weekend travel period...
AKmailman
Champion Author Alaska

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Message Posted: May 9, 2012 11:15:25 PM

don't believe anything coming from the government
especially DoChu
pastorpaulcg
Champion Author Virginia

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Message Posted: May 9, 2012 11:15:04 PM

Ok
nomad228
Champion Author Columbus

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Message Posted: May 9, 2012 11:14:18 PM

maybe just maybe finally all those yahoos that are buying hybreads/electric cars are finally taking a toll on gas demand. :) yeah right! hahahahahahaha : )
danreino
Champion Author Twin Cities

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Message Posted: May 9, 2012 11:13:46 PM

Mr. Chu and pals must be pulling their hair out whilst drinking premium scotch whiskey paid for by our tax dollars. Aint that Czariffic ?
bobdec
Champion Author Miami

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Message Posted: May 9, 2012 11:13:33 PM

Too soon to tell
AnObserver
Champion Author New Jersey

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Message Posted: May 9, 2012 11:12:09 PM

Grate news
regout
Champion Author Quebec

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Message Posted: May 9, 2012 11:12:06 PM

We will wait and see maybe speculators will need more money for their future gift.
59glide
Champion Author New Haven

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Message Posted: May 9, 2012 11:11:47 PM

GOOD
pyndasky
Champion Author Maryland

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Joined:May 2008
Message Posted: May 9, 2012 11:10:40 PM

I'm sure the oil companies won't be hurtin'
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