Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:57 PM

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
D4444J
Champion Author Albuquerque

Posts:4,378
Points:1,179,010
Joined:Aug 2011
Message Posted: May 10, 2012 7:42:10 AM

Great if it were true.Dreamers.
Profile Pic
remay
Champion Author Houston

Posts:9,353
Points:2,710,215
Joined:May 2006
Message Posted: May 10, 2012 7:37:05 AM

Maybe not, but the impact is STILL there, and WILL BE there!
Profile Pic
labombaOH
Veteran Author Ohio

Posts:455
Points:134,945
Joined:Nov 2007
Message Posted: May 10, 2012 7:26:01 AM

A Refinery Fire will stop this un American price drop
Profile Pic
pbear316
Champion Author Akron

Posts:4,580
Points:1,277,640
Joined:Apr 2011
Message Posted: May 10, 2012 5:41:08 AM

Good news.
Profile Pic
Virgin55
Veteran Author Ocala

Posts:313
Points:957,765
Joined:May 2010
Message Posted: May 10, 2012 1:52:03 AM

ok
Profile Pic
bsg75
All-Star Author Chicago

Posts:522
Points:146,795
Joined:May 2010
Message Posted: May 10, 2012 1:07:23 AM

Gas prices are all Nobonzo's fault. If you don't want profiteering by the richest 0.01% on Earth at the expense of the average Joe Driver, you obviously must tie your dog to your car roof and go vote for Willard Mittens Romney.
Profile Pic
kd5kpd
Champion Author Texas

Posts:6,093
Points:1,984,560
Joined:Apr 2006
Message Posted: May 10, 2012 1:04:40 AM

Dont bet the farm on cheap fuel, hurricane season is just around the corner & with fuel prices being higher than normal due to speculation & greed ANY sign of a possible tropical storm or hurricane in the gulf prices will jump to 4-5.00 a gallon over night!!!!
Profile Pic
UseLessGasFolks
Champion Author Iowa

Posts:8,007
Points:1,883,900
Joined:Jul 2007
Message Posted: May 10, 2012 1:02:58 AM


The less we use the less it costs.
Profile Pic
downstream
Champion Author Little Rock

Posts:2,249
Points:1,949,920
Joined:Mar 2006
Message Posted: May 10, 2012 12:53:57 AM

one never knows... do one? (it's a classic line)
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:46:10 AM

China is a close second actually, if things keep going like they are, china will own all our butts!
Profile Pic
GAS1251
Champion Author Texas

Posts:7,756
Points:2,229,550
Joined:Jun 2008
Message Posted: May 10, 2012 12:43:20 AM

Still higher than it should be.e
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:43:06 AM

I really believe it matters not who is in office, i believe in the golden rule, "he who owns the gold makes the rules" and that would be special interest, (BIG OIL), and next would be the pharmaceutical companies, etc. etc. these are the true presidents, and owners of America.
Profile Pic
PetroScopper
Champion Author Houston

Posts:9,173
Points:2,147,970
Joined:Aug 2008
Message Posted: May 10, 2012 12:42:54 AM

The rhetoric is always much worse than the reality.
Profile Pic
dave1745
Champion Author Gary

Posts:2,110
Points:1,152,100
Joined:Dec 2010
Message Posted: May 10, 2012 12:42:11 AM

nice
Profile Pic
coke_kid
Champion Author Chicago

Posts:1,545
Points:326,250
Joined:Nov 2005
Message Posted: May 10, 2012 12:41:29 AM

still way over 4 bucks here and people are still hurting and using every dime left they have and insted of extra food or cloths or school items for kids or even a trip its all going into the gas tank.

Thanks to Obama and his oil policys we are $2.38 over what it was when obama got elected...
Profile Pic
cheapertvs
Champion Author Richmond

Posts:12,973
Points:3,345,145
Joined:Jan 2004
Message Posted: May 10, 2012 12:41:13 AM

Notice that when net demand dropped throughout the World, prices went down.
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:5,581
Points:1,410,710
Joined:Sep 2009
Message Posted: May 10, 2012 12:40:33 AM

record low ...we can DREAM about it....
Profile Pic
idigau22
Champion Author Washington

Posts:26,839
Points:3,751,190
Joined:Apr 2003
Message Posted: May 10, 2012 12:40:29 AM

Everyone claims to have the Crystal Ball of Oil and Gas prices!!
Fuel prices have been inflated for over 3 years now!!!
Profile Pic
probedude2
Champion Author Akron

Posts:15,154
Points:2,981,605
Joined:Jun 2003
Message Posted: May 10, 2012 12:39:17 AM

Then again, maybe it will

[Edited by: probedude2 at 5/10/2012 1:38:59 AM EST]
Profile Pic
LuthierKS
Champion Author Wichita

Posts:6,640
Points:1,304,050
Joined:Apr 2011
Message Posted: May 10, 2012 12:34:42 AM

It appears as though the private sector has managed to beat down the Obama administration, at least in the short term. If Obama gets reelected in November, it will be Katy-bar-the-door for fuel prices because he won't have to face an angry electorate again.
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:32:03 AM

Gee it's too bad that most Americans either cannot afford to shield themselves from this, and it's to bad that the ones who can afford to shield themselves from high gas prices do not participate in cutting back, or buying an economy car. I guess it is what it is. The road to disaster is all down hill, and nobody has brakes. Heh, glad I won't be around in the next 10 generations to see what happens when America reaches the end of the line for oil.
Profile Pic
thirstyauto
Champion Author Milwaukee

Posts:19,184
Points:2,211,930
Joined:Nov 2008
Message Posted: May 10, 2012 12:30:40 AM

We'll see!!!
Profile Pic
jorod55
Champion Author California

Posts:4,066
Points:1,034,110
Joined:Dec 2011
Message Posted: May 10, 2012 12:26:43 AM

Still over $4.00 a gal. here in the SF bay area.
Profile Pic
Steady325
Champion Author Orange County

Posts:5,214
Points:2,061,835
Joined:Nov 2008
Message Posted: May 10, 2012 12:23:47 AM

ok
Profile Pic
Dodge_Me
Champion Author Atlanta

Posts:2,222
Points:1,013,940
Joined:Mar 2006
Message Posted: May 10, 2012 12:23:35 AM

Just keep going down. :-)
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:23:22 AM

No company abandons a business model that racks in the billions, we will be victims until we are through being victimized, actually I suspect they get the message, but the money is still flowing, so why change the business model, I do see why we have this problem.
Profile Pic
roadrunnerMO
Champion Author Kansas

Posts:11,012
Points:2,303,190
Joined:Jul 2008
Message Posted: May 10, 2012 12:23:11 AM

Great as they go down.
Profile Pic
q2
Champion Author Alberta

Posts:4,626
Points:978,320
Joined:Nov 2008
Message Posted: May 10, 2012 12:21:09 AM

The spring time record prices were not enough ?
Profile Pic
Timons
Champion Author Houston

Posts:1,545
Points:890,385
Joined:Jul 2007
Message Posted: May 10, 2012 12:19:49 AM

Good news?
Profile Pic
Ron77095
Champion Author Houston

Posts:5,656
Points:1,206,100
Joined:Sep 2011
Message Posted: May 10, 2012 12:18:20 AM

Really?
Profile Pic
mfeldstein
Champion Author Ottawa

Posts:10,638
Points:2,506,210
Joined:Feb 2007
Message Posted: May 10, 2012 12:17:52 AM

Rooster922 .... Good observation.
Profile Pic
LareBear09
Sophomore Author Orange County

Posts:162
Points:538,155
Joined:Dec 2008
Message Posted: May 10, 2012 12:17:34 AM

Glad to hear that the rest of the country will be paying an average of $3.79. Here on the West Coast, our prices range from $4.15 to $4.49 right now, and prices continue to slowly increase each week.
Profile Pic
GoGoGoodyear
Champion Author Los Angeles

Posts:4,445
Points:813,195
Joined:Mar 2010
Message Posted: May 10, 2012 12:17:32 AM


As if the record high prices already hit this year weren't enough!
Profile Pic
Rooster922
Champion Author Wilmington

Posts:4,145
Points:1,043,245
Joined:Jan 2009
Message Posted: May 10, 2012 12:16:55 AM

Here comes the innuendo of speculating.
Profile Pic
no8c
Champion Author Ohio

Posts:4,947
Points:1,279,915
Joined:Jul 2008
Message Posted: May 10, 2012 12:16:23 AM

Thanks for posting this article!
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:15:28 AM

No company walks away from a successful business model, we are all on the chopping block!
Profile Pic
miiike572
All-Star Author Phoenix

Posts:798
Points:554,990
Joined:Apr 2009
Message Posted: May 10, 2012 12:15:26 AM

can't travel when you don't have the money to buy the gas.
Profile Pic
frontrowjoe33
Champion Author Chicago

Posts:23,938
Points:3,303,370
Joined:Oct 2005
Message Posted: May 10, 2012 12:14:34 AM

Supply and demand, prices shoot up, people cut back in buying, there is a surplus, and prices fall. Here we stand.

[Edited by: frontrowjoe33 at 5/10/2012 1:14:50 AM EST]
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:12:35 AM

Yep, people started to say screw it, they had to avert a catastrophie, the economy was starting to take a hit! It's like fishing, ya gotta let the population recover before you continue the carnage, there will be next season. By then people won't be as worried about gas because the price will be lower than outrageous. Next summer they will impose the losses they are incurring this summer.
Profile Pic
RENEGADEGAS
Champion Author Missouri

Posts:17,579
Points:2,158,715
Joined:Jul 2008
Message Posted: May 10, 2012 12:11:48 AM

Its already in the record highs. Dont forget, it was $2.00 a gallon cheaper just 3 and half years ago.
Profile Pic
BobD2009
Champion Author Long Island

Posts:9,542
Points:1,827,535
Joined:Apr 2009
Message Posted: May 10, 2012 12:10:59 AM

Predictions, predictions, they are usually wrong.
Profile Pic
MinnesotaDJ
Champion Author Minnesota

Posts:6,612
Points:1,254,570
Joined:Feb 2010
Message Posted: May 10, 2012 12:08:35 AM

That's a good thing, maybe we won't have the boycotting stations now.
Profile Pic
REVLAW
Champion Author San Antonio

Posts:13,056
Points:2,610,000
Joined:Jul 2007
Message Posted: May 10, 2012 12:08:34 AM

Perhaps the price is being affected by the HO and dems strong desire against a landslide defeat next November.
Profile Pic
btex49
Champion Author Austin

Posts:5,194
Points:1,107,965
Joined:Aug 2011
Message Posted: May 10, 2012 12:07:38 AM

And hopefully, President Obama won't set any records for stupidity this summer either.
Profile Pic
TekWare
Champion Author Toronto

Posts:5,760
Points:1,275,975
Joined:May 2011
Message Posted: May 10, 2012 12:06:45 AM

I guess the thought of imminent economic collapse made them lower them just a smidge.
Profile Pic
blueBMW480
Champion Author Nashville

Posts:818,391
Points:1,444,165
Joined:Jan 2011
Message Posted: May 10, 2012 12:04:24 AM

Awesome
Profile Pic
Garyallman
Champion Author Honolulu

Posts:3,990
Points:77,140
Joined:Apr 2012
Message Posted: May 10, 2012 12:04:01 AM

Sad part about it is the division of the people's focus, if we all got together and did what we needed to do, we could have these oil companies working for us instead of the other way around. There are other forms of energy. Would be nice also to have a leader that we the people own, instead the oil companies own.
Profile Pic
TBONE3
Champion Author Pennsylvania

Posts:10,829
Points:2,427,350
Joined:Mar 2005
Message Posted: May 10, 2012 12:02:49 AM

Let's hope this actually happens. So far the previous predictions have not paned out so I will believe this when I am at the pump.
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:5,908
Points:1,340,865
Joined:Jan 2011
Message Posted: May 10, 2012 12:01:49 AM

Dream on!
Post a reply Back to Topics