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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
D4444J
Champion Author Albuquerque

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Message Posted: May 10, 2012 7:42:10 AM

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

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Message Posted: May 10, 2012 7:37:05 AM

Maybe not, but the impact is STILL there, and WILL BE there!
labombaOH
All-Star Author Ohio

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Message Posted: May 10, 2012 7:26:01 AM

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

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Message Posted: May 10, 2012 5:41:08 AM

Good news.
Virgin55
Veteran Author Ocala

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Message Posted: May 10, 2012 1:52:03 AM

ok
bsg75
All-Star Author Chicago

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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.
kd5kpd
Champion Author Texas

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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!!!!
UseLessGasFolks
Champion Author Iowa

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Message Posted: May 10, 2012 1:02:58 AM


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

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Message Posted: May 10, 2012 12:53:57 AM

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

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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!
GAS1251
Champion Author Texas

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Message Posted: May 10, 2012 12:43:20 AM

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

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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.
PetroScopper
Champion Author Houston

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Message Posted: May 10, 2012 12:42:54 AM

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

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Message Posted: May 10, 2012 12:42:11 AM

nice
coke_kid
Champion Author Chicago

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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...
cheapertvs
Champion Author Richmond

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Message Posted: May 10, 2012 12:41:13 AM

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

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Message Posted: May 10, 2012 12:40:33 AM

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

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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!!!
probedude2
Champion Author Akron

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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]
LuthierKS
Champion Author Wichita

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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.
Garyallman
Champion Author Honolulu

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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.
thirstyauto
Champion Author Milwaukee

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Message Posted: May 10, 2012 12:30:40 AM

We'll see!!!
jorod55
Champion Author California

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Message Posted: May 10, 2012 12:26:43 AM

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

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Message Posted: May 10, 2012 12:23:47 AM

ok
Dodge_Me
Champion Author Atlanta

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Message Posted: May 10, 2012 12:23:35 AM

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

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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.
roadrunnerMO
Champion Author Kansas

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Message Posted: May 10, 2012 12:23:11 AM

Great as they go down.
q2
Champion Author Alberta

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Message Posted: May 10, 2012 12:21:09 AM

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

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Message Posted: May 10, 2012 12:19:49 AM

Good news?
Ron77095
Champion Author Houston

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Message Posted: May 10, 2012 12:18:20 AM

Really?
mfeldstein
Champion Author Ottawa

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Message Posted: May 10, 2012 12:17:52 AM

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

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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.
GoGoGoodyear
Champion Author Los Angeles

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Message Posted: May 10, 2012 12:17:32 AM


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

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Message Posted: May 10, 2012 12:16:55 AM

Here comes the innuendo of speculating.
no8c
Champion Author Ohio

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Message Posted: May 10, 2012 12:16:23 AM

Thanks for posting this article!
Garyallman
Champion Author Honolulu

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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!
miiike572
All-Star Author Phoenix

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Message Posted: May 10, 2012 12:15:26 AM

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

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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]
Garyallman
Champion Author Honolulu

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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.
RENEGADEGAS
Champion Author Missouri

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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.
BobD2009
Champion Author Long Island

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Message Posted: May 10, 2012 12:10:59 AM

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

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Message Posted: May 10, 2012 12:08:35 AM

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

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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.
btex49
Champion Author Austin

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Message Posted: May 10, 2012 12:07:38 AM

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

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Message Posted: May 10, 2012 12:06:45 AM

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

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Message Posted: May 10, 2012 12:04:24 AM

Awesome
Garyallman
Champion Author Honolulu

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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.
TBONE3
Champion Author Pennsylvania

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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.
GigHarborHound
Champion Author Tacoma

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Message Posted: May 10, 2012 12:02:00 AM

Break my heart!!!
abacus44
Champion Author Toms River

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

Dream on!
Rageagainsttm
Champion Author Tampa

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Message Posted: May 9, 2012 11:56:21 PM

need to set record low price
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