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GasBuddy News Article

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Oil and gas prices look like they’ve peaked

Market Watch -- NEW YORK — Remember just a few short weeks ago, when the media were speculating about how high gasoline prices could go? I know—I wrote a story like that myself.
In early March, gasoline prices hit $3.94 a gallon, and topped the magic $4.00 mark in California and other states. That was based on a jump in Brent crude oil prices to $128 a barrel.

Some of it was due to a growing U.S. economy and some logistical issues. But the main reason was fear of either an Israeli air strike to destroy Iran’s nuclear facilities or Iranian military action to break sanctions from the international community.


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Submitted May 04, 2012 By: fordfreak
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil and gas prices look like they’ve peaked Back to Topics
REPLIES (newest first) Post a Reply
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ericbcire
Champion Author Nevada

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Message Posted: May 4, 2012 8:32:06 PM

Prices need to drop or the economy will worsen.
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clermont40miles
Champion Author Cincinnati

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Message Posted: May 4, 2012 8:31:02 PM

Peaked? If so its because new rules kick in on May 7th to raise the margins speculators must post. That cuts their leverage and profit.

Finally a step in the right direction. All to help BHO get reelected. Don't be fooled into voting for this horrid president. He is NOT your friend.

You are not being invited to dinner. You ARE dinner.
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ezone
Champion Author Florida

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Message Posted: May 4, 2012 8:25:36 PM

This should read, 'gas prices have peaked - FOR NOW. I predict we will see $5 gas before we see Sub-$3 gas again. NObama 2012.
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CheapDiesel
Champion Author Indianapolis

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Message Posted: May 4, 2012 8:24:32 PM

Wholesale gasoline price on the CSCE today below $3, maybe we won't see another price gouge for at least a week?

Funny how years ago local concrete suppliers got in trouble for price fixing...don't the gasoline stations do basically the same thing? When oil and gas prices are flat to declining, a 30 cent or more price gouge seems shady.
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pickledude72
Champion Author California

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Message Posted: May 4, 2012 8:24:09 PM

in a pig's eye
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mitchell6597
Champion Author New Hampshire

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Message Posted: May 4, 2012 8:22:39 PM

Speculating
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frostyWV
Champion Author West Virginia

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Message Posted: May 4, 2012 8:20:56 PM

hope so.
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SSchmidty
Champion Author Illinois

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Message Posted: May 4, 2012 8:18:32 PM

What a silly obersation ... based on what dream/drug-induced thoughts?
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jorja13
Champion Author British Columbia

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Message Posted: May 4, 2012 8:18:14 PM

I wish it would start to drop here....it's been 129.9 for a long time. Gasgouge.ca says we're being gouged 16 cents/litre.

[Edited by: jorja13 at 5/4/2012 9:19:12 PM EST]
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crashintuc34
Champion Author Tucson

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Message Posted: May 4, 2012 8:15:29 PM

Yippee!
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Pete12
Champion Author Albany

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Message Posted: May 4, 2012 8:14:47 PM

Somebody finally figured out (again) high gas prices kill the economy.
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heysailor
Champion Author Pittsburgh

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Message Posted: May 4, 2012 8:13:00 PM

Peaked until the speculators see another opportunity.
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Chris46
Champion Author Dayton

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Message Posted: May 4, 2012 8:08:31 PM

Peaked until when? You can't predict what gas prices are going to be next month, let alone for the year!
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warlord1
Champion Author Georgia

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Message Posted: May 4, 2012 8:07:40 PM

ok
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OOXXFF
Champion Author Greensboro

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Message Posted: May 4, 2012 8:07:28 PM

I hope it has peaked and will now go down to a reasonable level.
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Bonanza
Champion Author Boston

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Message Posted: May 4, 2012 8:07:17 PM

I just hope the price of gas keeps falling
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nimpy
Champion Author Indianapolis

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Message Posted: May 4, 2012 8:06:45 PM

I don't think so
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TDIdave
Champion Author California

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Message Posted: May 4, 2012 8:04:33 PM

ok.
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Stevedog
Champion Author Michigan

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Message Posted: May 4, 2012 8:03:20 PM

Maybe in the short term.
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Z51Corvette
Champion Author Austin

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Message Posted: May 4, 2012 8:03:19 PM

It was all speculation... Check the price coated to last years prices!
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Garston
Champion Author Maine

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Message Posted: May 4, 2012 8:03:05 PM

All the prices are fixed.
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camel1
Champion Author Minnesota

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Message Posted: May 4, 2012 8:02:13 PM

Believe it when retail prices drop.
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TopGunn
Champion Author Baltimore

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Message Posted: May 4, 2012 8:01:35 PM

As usual, only time will tell. Anything else is speculation.
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Bonito
Champion Author Dayton

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Message Posted: May 4, 2012 7:59:52 PM

GAS IS FIXED AND WILL NOT GO LOW BUT ONLY HIGHER BESIDES ANYTHING YOU READ!
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The3rd
Champion Author Jacksonville

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Message Posted: May 4, 2012 7:58:01 PM

When will it drop below $2.00 a gallon?
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gknee09
Champion Author Philadelphia

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Message Posted: May 4, 2012 7:50:53 PM

Memorial Weekend is right around the corner, we'll see how high the prices get
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Clarktj
Sophomore Author Kentucky

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Message Posted: May 4, 2012 7:48:39 PM

ok
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yeehaw1073
Champion Author Indiana

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Message Posted: May 4, 2012 7:44:46 PM

two important words missing from this headline..."for now"
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CheapDiesel
Champion Author Indianapolis

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Message Posted: May 4, 2012 7:43:05 PM

A "growing US economy" is only happening in the twisted figures posted by the federal government. I think investors have finally come to this realization and money is being sidelined until the conclusion of the reign of Barack Hussein Osama and his regime.
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PizzaMon
Champion Author Philadelphia

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Message Posted: May 4, 2012 7:41:03 PM

Next week...different story once again.
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boborobot
All-Star Author Michigan

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Message Posted: May 4, 2012 7:41:01 PM

Speculation at work again.
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humancry
Champion Author Michigan

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Message Posted: May 4, 2012 7:39:58 PM

The only thing that has peaked are the oil tycoons and there having orgasmic activity over how they have ripped us off.
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NotmeuQc
Champion Author Montreal

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Message Posted: May 4, 2012 7:39:04 PM

Last Monday night, several stations tried to get a price increase, but most stations did not go up. Last night a good portion of the stations put the price up 5 cents a litre, but there are still some that have not budged, and have actually gone down. Quite a few of the ones that did go up have already dropped their price by 2 cents a litre.
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nd73
Champion Author Grand Rapids

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Message Posted: May 4, 2012 7:36:51 PM

And yet virtually every station in West Michigan jumped to $3.99 yesterday (a spike of 20-30 cents a gallon!!).
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paisho6
Veteran Author Oakland

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Message Posted: May 4, 2012 7:36:18 PM

OK
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cutter1330
Champion Author Oklahoma

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Message Posted: May 4, 2012 7:35:09 PM

Now if we could just see 'em 'valley' for a while.
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Road-Runner
Champion Author Denver

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Message Posted: May 4, 2012 7:31:44 PM

Prices have never before been so high for so long. Prices need to drop like a rock.
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crowefamily1
All-Star Author Texas

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Message Posted: May 4, 2012 7:30:41 PM

we are getting gas for 3.49 to 3.69 for regular unleaded. Diesel hasn't moved 3.89.
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AKmailman
Champion Author Alaska

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Message Posted: May 4, 2012 7:28:33 PM

look further than today - they have not peaked
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dbecks44
Champion Author Michigan

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Message Posted: May 4, 2012 7:25:11 PM

I'll believe it when I see it . . . so . . . never.
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bif65
Champion Author Virginia

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Message Posted: May 4, 2012 7:24:39 PM

ok
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puckheadmn
Champion Author Twin Cities

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Message Posted: May 4, 2012 7:17:50 PM

Yea, sure they have.
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zonernovi
Champion Author Michigan

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Message Posted: May 4, 2012 7:17:32 PM

all guesses
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trinda1
Champion Author Fort Worth

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Message Posted: May 4, 2012 7:17:16 PM

How you going toGo up on gas because of fear.
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spmaudio
Champion Author Chicago

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Message Posted: May 4, 2012 7:16:50 PM

I firmly believe there is a glass ceiling on gas & oil prices. Granted this ceiling tends to go up over the long term, but it doesn't go away.
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jalan25
Champion Author Indianapolis

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Message Posted: May 4, 2012 7:16:00 PM

My crystal still says beware
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smoketown
Champion Author Cincinnati

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Message Posted: May 4, 2012 7:13:44 PM

$3.89 here yesterday some stations down $ 3.57..........
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2granny
Champion Author Michigan

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Message Posted: May 4, 2012 7:11:54 PM

Memorial weekend is coming and you know the prices will be up.
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Grandkid1
Champion Author Cincinnati

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Message Posted: May 4, 2012 7:10:12 PM

Hmmmmmmmmmmmmm
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bigrigAZ
Champion Author Phoenix

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Message Posted: May 4, 2012 7:04:48 PM


$0.12 doesn't seem like much. For the holidays it'll probably make up the difference by going up 30 cents. Then down again for the election to fake people into thinking it's peaked and after the election if we don't have new people in gov't it'll finally make $5. Chu wants more (secretary of energy) and his friends in the white house want it t.. watch and wait. Vote in November
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princessfifi
Sophomore Author Detroit

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Message Posted: May 4, 2012 7:03:54 PM

woo hoo!!
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