Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:22 AM

GasBuddy News Article

37
votes
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


Read the Full Article

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
Profile Pic
GigHarborHound
Champion Author Tacoma

Posts:4,033
Points:785,610
Joined:Sep 2011
Message Posted: May 10, 2012 12:02:00 AM

Break my heart!!!
Profile Pic
abacus44
Champion Author Toms River

Posts:5,641
Points:1,242,740
Joined:Jan 2011
Message Posted: May 10, 2012 12:01:49 AM

Dream on!
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,477
Points:2,388,585
Joined:Jul 2007
Message Posted: May 9, 2012 11:56:21 PM

need to set record low price
Profile Pic
wz
Champion Author Twin Cities

Posts:4,772
Points:1,779,645
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.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,477
Points:2,388,585
Joined:Jul 2007
Message Posted: May 9, 2012 11:55:32 PM

too bad
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
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!
Profile Pic
RBob
Champion Author Portland

Posts:4,389
Points:2,777,495
Joined:May 2004
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.

Profile Pic
Thomtec
Champion Author Nashville

Posts:4,763
Points:1,111,655
Joined:May 2011
Message Posted: May 9, 2012 11:51:45 PM

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

Posts:3,990
Points:77,140
Joined:Apr 2012
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.
Profile Pic
10k
Champion Author North Carolina

Posts:24,412
Points:2,757,300
Joined:May 2006
Message Posted: May 9, 2012 11:46:36 PM

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

Posts:12,866
Points:2,360,395
Joined:Mar 2008
Message Posted: May 9, 2012 11:45:23 PM

Any reason to raise prices!
Profile Pic
Matt G
Champion Author Boston

Posts:6,866
Points:3,277,875
Joined:Jun 2004
Message Posted: May 9, 2012 11:44:36 PM

Good
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
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.
Profile Pic
eromitlab
Champion Author Huntsville

Posts:7,356
Points:1,459,360
Joined:May 2008
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.
Profile Pic
GassyKat
Champion Author Wisconsin

Posts:10,087
Points:2,074,855
Joined:Sep 2005
Message Posted: May 9, 2012 11:37:58 PM

We'll see
Profile Pic
ricebike
Champion Author New Jersey

Posts:12,047
Points:2,277,310
Joined:Oct 2005
Message Posted: May 9, 2012 11:37:46 PM

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

Posts:429
Points:58,330
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.
Profile Pic
HYEgasCA
Champion Author Fresno

Posts:3,885
Points:1,361,200
Joined:Dec 2008
Message Posted: May 9, 2012 11:33:40 PM

good
Profile Pic
jimgraham
Champion Author Akron

Posts:12,720
Points:2,485,150
Joined:Oct 2007
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]
Profile Pic
Eugenian
Champion Author Oregon

Posts:2,785
Points:540,645
Joined:Oct 2009
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.
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,936
Points:1,573,680
Joined:Jun 2005
Message Posted: May 9, 2012 11:32:25 PM

World oil prices are falling.
Profile Pic
edgarCA
Champion Author Oakland

Posts:1,581
Points:241,770
Joined:Jun 2009
Message Posted: May 9, 2012 11:32:11 PM

Goodnight.
Profile Pic
Mr Tex
Champion Author Dallas

Posts:1,188
Points:2,644,555
Joined:Jan 2004
Message Posted: May 9, 2012 11:31:29 PM

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

Posts:9,809
Points:1,900,570
Joined:Nov 2008
Message Posted: May 9, 2012 11:31:12 PM

Take the bus.
Profile Pic
gmcgas
Champion Author Atlanta

Posts:8,344
Points:2,217,440
Joined:Mar 2004
Message Posted: May 9, 2012 11:31:09 PM

yep
Profile Pic
labombaOH
Veteran Author Ohio

Posts:449
Points:134,650
Joined:Nov 2007
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.
Profile Pic
bra0712
Champion Author Arizona

Posts:5,381
Points:1,242,750
Joined:Nov 2008
Message Posted: May 9, 2012 11:28:56 PM

It will still be high
Profile Pic
gus8441
Champion Author Baltimore

Posts:3,444
Points:901,955
Joined:Feb 2012
Message Posted: May 9, 2012 11:26:26 PM

good...i suppose
Profile Pic
DEG
Champion Author Las Vegas

Posts:19,857
Points:3,981,405
Joined:Jul 2003
Message Posted: May 9, 2012 11:26:07 PM

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

Posts:1,594
Points:750,265
Joined:Jun 2005
Message Posted: May 9, 2012 11:25:54 PM

Good news...
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: May 9, 2012 11:24:40 PM

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

Posts:5,026
Points:1,236,140
Joined:Mar 2011
Message Posted: May 9, 2012 11:23:57 PM

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

Posts:2,819
Points:877,355
Joined:Feb 2012
Message Posted: May 9, 2012 11:23:57 PM

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

Posts:3,447
Points:1,119,805
Joined:Apr 2009
Message Posted: May 9, 2012 11:22:20 PM

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

Posts:4,442
Points:1,111,840
Joined:Jan 2011
Message Posted: May 9, 2012 11:22:16 PM

Ok
Profile Pic
EVBuddy
Champion Author Nevada

Posts:18,985
Points:3,522,460
Joined:Sep 2004
Message Posted: May 9, 2012 11:21:32 PM

Thank goodness
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: May 9, 2012 11:20:41 PM

What will be will be!
Profile Pic
KrsnaDragon
Champion Author Montreal

Posts:4,741
Points:1,030,605
Joined:Nov 2011
Message Posted: May 9, 2012 11:20:06 PM

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

Posts:772
Points:371,610
Joined:Jun 2011
Message Posted: May 9, 2012 11:18:41 PM

If you say so.
Profile Pic
btex49
Champion Author Austin

Posts:4,924
Points:1,008,415
Joined:Aug 2011
Message Posted: May 9, 2012 11:18:28 PM

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

Posts:14,458
Points:2,583,445
Joined:Dec 2006
Message Posted: May 9, 2012 11:18:07 PM

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

Posts:4,142
Points:2,988,090
Joined:May 2005
Message Posted: May 9, 2012 11:17:25 PM

we will see
Profile Pic
thuathienhue
Champion Author Michigan

Posts:5,615
Points:1,101,235
Joined:Jul 2011
Message Posted: May 9, 2012 11:17:25 PM

Hope not
Profile Pic
granitestater
Champion Author New Hampshire

Posts:11,576
Points:1,924,380
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...
Profile Pic
AKmailman
Champion Author Alaska

Posts:7,980
Points:2,058,895
Joined:Jul 2004
Message Posted: May 9, 2012 11:15:25 PM

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

Posts:3,615
Points:776,835
Joined:Dec 2010
Message Posted: May 9, 2012 11:15:04 PM

Ok
Profile Pic
nomad228
Champion Author Columbus

Posts:3,208
Points:592,275
Joined:Feb 2011
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 : )
Profile Pic
danreino
Champion Author Twin Cities

Posts:9,828
Points:1,838,480
Joined:Mar 2008
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 ?
Profile Pic
bobdec
Champion Author Miami

Posts:11,111
Points:2,245,570
Joined:May 2008
Message Posted: May 9, 2012 11:13:33 PM

Too soon to tell
Profile Pic
AnObserver
Champion Author New Jersey

Posts:10,527
Points:2,732,630
Joined:Sep 2005
Message Posted: May 9, 2012 11:12:09 PM

Grate news
Profile Pic
regout
Champion Author Quebec

Posts:5,240
Points:1,330,330
Joined:May 2010
Message Posted: May 9, 2012 11:12:06 PM

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

Posts:1,086
Points:1,460,000
Joined:Apr 2006
Message Posted: May 9, 2012 11:11:47 PM

GOOD
Post a reply Back to Topics