Not Logged In Log In   Sign Up   Points Leaders
Follow Us    8:49 PM

GasBuddy News Article

44
votes
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.


Read the Full Article

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
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,617
Points:2,157,915
Joined:Nov 2008
Message Posted: May 8, 2012 4:39:33 AM

I won't hold my breath.
Profile Pic
SavingInNC
Champion Author North Carolina

Posts:7,428
Points:1,568,040
Joined:Oct 2006
Message Posted: May 7, 2012 5:01:32 AM

I hope so
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,617
Points:2,157,915
Joined:Nov 2008
Message Posted: May 7, 2012 4:46:07 AM

time will tell. I will say that we probably see another hike sooner than later. Unfortunately.
Profile Pic
clermont40miles
Champion Author Cincinnati

Posts:13,681
Points:2,317,145
Joined:Apr 2008
Message Posted: May 6, 2012 8:47:53 PM

Not likely that prices have peaked. Unless election year trumps the speculators.

May 7th the margin requirements are being increased so the speculators do not have the leverage they've had in the past. This has happened before but did not last long. Likely that will again be the case this time around.

We are getting a break so enjoy it.

I'll take high prices if it gets rid of BHO & Co. That is one method of political contribution that is well spent if it works!
Profile Pic
feistyfella
All-Star Author Detroit

Posts:946
Points:552,420
Joined:Jun 2010
Message Posted: May 5, 2012 4:34:08 PM

Cousin Pooh-key
Profile Pic
snerd
All-Star Author Pennsylvania

Posts:935
Points:666,700
Joined:May 2005
Message Posted: May 5, 2012 3:48:47 PM

They may have peaked, since the economy is in the tank...
Profile Pic
gravityhurts
Champion Author North Carolina

Posts:5,617
Points:1,434,135
Joined:Sep 2008
Message Posted: May 5, 2012 5:34:49 AM

Prices have recently shown signs of retreating here over the last week. But prices are still too high with oil trading for under $100.00.
Profile Pic
52MPG
Champion Author Dayton

Posts:9,677
Points:2,288,375
Joined:Apr 2006
Message Posted: May 5, 2012 4:38:51 AM

Gas just jumped 20 cents. So much for the peaked theory.
Profile Pic
5kvdave
All-Star Author Los Angeles

Posts:688
Points:350,000
Joined:May 2011
Message Posted: May 5, 2012 1:52:22 AM

Ya right
Profile Pic
speedys
Champion Author Utah

Posts:9,418
Points:3,105,780
Joined:Nov 2005
Message Posted: May 5, 2012 12:45:54 AM

I hope they have.
Profile Pic
bvrbill
Champion Author Eugene

Posts:6,905
Points:1,066,000
Joined:Jul 2011
Message Posted: May 4, 2012 11:45:44 PM

I hope he is right. But, I'd not be surprised if prices continue to climb.
Profile Pic
Colts13
Champion Author Indiana

Posts:4,000
Points:1,054,510
Joined:Mar 2011
Message Posted: May 4, 2012 11:34:00 PM

Ok.
Profile Pic
abacus44
Champion Author Toms River

Posts:5,742
Points:1,285,940
Joined:Jan 2011
Message Posted: May 4, 2012 11:31:55 PM

OK
Profile Pic
Buddy2264
Champion Author Tampa

Posts:14,130
Points:2,908,020
Joined:Oct 2005
Message Posted: May 4, 2012 11:29:10 PM

Sure because for now we will not pay the higher prices and they know it. But they tested it and will keep it in the high $3.00 range for now.
Profile Pic
sammy518
Champion Author Austin

Posts:2,589
Points:539,790
Joined:Dec 2010
Message Posted: May 4, 2012 11:28:09 PM

sure
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: May 4, 2012 11:27:28 PM

good
Profile Pic
DEG
Champion Author Las Vegas

Posts:19,942
Points:4,019,530
Joined:Jul 2003
Message Posted: May 4, 2012 11:25:35 PM

Don't count on it. Memorial Day is just around the corner and prices generally shoot up a couple of weeks before a holiday.
Profile Pic
joel27nc
Champion Author Raleigh

Posts:12,964
Points:2,402,970
Joined:Mar 2008
Message Posted: May 4, 2012 11:25:32 PM

It is one big game.
Profile Pic
yonasb
Champion Author Houston

Posts:3,463
Points:852,575
Joined:Apr 2011
Message Posted: May 4, 2012 11:25:07 PM

Good
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:11,214
Points:2,388,730
Joined:Aug 2005
Message Posted: May 4, 2012 11:23:54 PM

They are way to high.
Profile Pic
Dodge_Me
Champion Author Atlanta

Posts:2,222
Points:972,940
Joined:Mar 2006
Message Posted: May 4, 2012 11:23:14 PM

How can they say that, it will always go up and down
Profile Pic
Gas Thirsty
Champion Author Los Angeles

Posts:6,211
Points:3,741,180
Joined:Mar 2003
Message Posted: May 4, 2012 11:22:51 PM

Peaked? I doubt it. Prices are going back up in So. Cal.
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: May 4, 2012 11:20:41 PM

Th US is poised for a recession.
Profile Pic
benjy
Champion Author Chicago

Posts:10,650
Points:2,322,170
Joined:Nov 2003
Message Posted: May 4, 2012 11:20:40 PM

hope so...
Profile Pic
jackson661
Champion Author Columbus

Posts:4,973
Points:1,960,475
Joined:May 2006
Message Posted: May 4, 2012 11:19:58 PM

I will take the optimistic view all the time.
Profile Pic
1fulltank
Champion Author Buffalo

Posts:10,104
Points:2,056,215
Joined:Nov 2008
Message Posted: May 4, 2012 11:19:34 PM

Old article.
Profile Pic
Cashless
Champion Author Akron

Posts:5,958
Points:1,282,105
Joined:Apr 2011
Message Posted: May 4, 2012 11:18:29 PM

Let's hope so!
Profile Pic
Godozo
Champion Author Gary

Posts:1,347
Points:1,017,830
Joined:Dec 2010
Message Posted: May 4, 2012 11:17:00 PM

Well, I heard crude prices drop below $100 after a long time over it. I've also watched a full-fledged gas war around $3.60 last for two days (average prices in NW Indiana are around $4.10). And a local Real Estate Saturday Talk Show keeps saying prices are around $.50 above where they should be.

If prices start to drop off despite the switch to Summer Fuel, I'll believe it.
Profile Pic
celtic14
Champion Author Florida

Posts:1,591
Points:2,617,705
Joined:Nov 2005
Message Posted: May 4, 2012 11:16:59 PM

Note the 1st sentence in the article. The lamestream media constitute one of the best contrary indicators in the financial world. They are almost always wrong. Back in 1982 one of the newsmagazines had a cover story titled "The Death of Equities" -- just before a massive bull market commenced. So an article on oil zooming higher actually means "oil has peaked."

When these pundits say a bear market is here to stay, buy with both hands. When they talk up a bull market, sell and get out (or for real profits, go short or buy put options).
Profile Pic
ds531
Champion Author Texas

Posts:5,320
Points:1,138,980
Joined:Sep 2011
Message Posted: May 4, 2012 11:16:06 PM

OK
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:14,577
Points:2,626,020
Joined:Dec 2006
Message Posted: May 4, 2012 11:15:12 PM

Goes up a whole lot faster than it goes down...
Profile Pic
jdc17327
Champion Author Pennsylvania

Posts:2,648
Points:204,030
Joined:May 2009
Message Posted: May 4, 2012 11:14:57 PM

okay...great!
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,234
Points:3,022,510
Joined:May 2005
Message Posted: May 4, 2012 11:13:53 PM

prices can go back up real fast
Profile Pic
bobdec
Champion Author Miami

Posts:11,206
Points:2,288,145
Joined:May 2008
Message Posted: May 4, 2012 11:12:14 PM

Just for now
Profile Pic
chuckwthompson
Champion Author Charlotte

Posts:6,200
Points:1,125,110
Joined:Sep 2011
Message Posted: May 4, 2012 11:11:14 PM

Yeah, right! I only bet on three things...(1) Sunrise. (2) Sunset. (3) And the price of gas will continue to go up!
Profile Pic
Rooster922
Champion Author Wilmington

Posts:4,134
Points:1,006,525
Joined:Jan 2009
Message Posted: May 4, 2012 11:11:12 PM

Good so far.
Profile Pic
Blue48
Champion Author Illinois

Posts:9,738
Points:2,184,645
Joined:Feb 2007
Message Posted: May 4, 2012 11:09:47 PM

DON'T GET TO EXCITED....CERTAIN THINGS CAN STILL HAPPEN
Profile Pic
ChristinaCricke
Champion Author New Jersey

Posts:6,161
Points:1,309,750
Joined:Mar 2011
Message Posted: May 4, 2012 11:09:43 PM

I doubt it.........
Profile Pic
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: May 4, 2012 11:08:58 PM

Still to high.
Profile Pic
big_mac64
Champion Author Tennessee

Posts:11,066
Points:1,627,450
Joined:May 2005
Message Posted: May 4, 2012 11:08:24 PM

that's been the problem all along...speculating!
Profile Pic
radiorumor
Champion Author Texas

Posts:5,145
Points:1,297,300
Joined:Feb 2011
Message Posted: May 4, 2012 11:08:04 PM

Didn’t I hear today that oil is below $100 a barrel? The dropping price at the gas pump is sluggish
Profile Pic
HEBster
Champion Author Kentucky

Posts:11,116
Points:2,907,690
Joined:May 2006
Message Posted: May 4, 2012 11:07:26 PM

Dropping but...long way to go & summer' coming!
Profile Pic
us4usa
Champion Author Missouri

Posts:7,094
Points:1,473,950
Joined:May 2008
Message Posted: May 4, 2012 11:07:09 PM

Now that we are all happy with these low gas prices???
Profile Pic
miser709
Champion Author Grand Rapids

Posts:1,278
Points:1,569,650
Joined:Mar 2004
Message Posted: May 4, 2012 11:07:07 PM

NOT!
Profile Pic
jem069
Champion Author Detroit

Posts:4,525
Points:1,149,035
Joined:Jan 2011
Message Posted: May 4, 2012 11:05:09 PM

Ok
Profile Pic
TheSicilian
Champion Author Jacksonville

Posts:7,792
Points:2,016,775
Joined:Feb 2009
Message Posted: May 4, 2012 11:04:33 PM

we will see
Profile Pic
regout
Champion Author Quebec

Posts:5,340
Points:1,375,130
Joined:May 2010
Message Posted: May 4, 2012 11:03:48 PM

Not sure about that.
Profile Pic
Toppers
Champion Author Atlanta

Posts:11,375
Points:3,015,075
Joined:Mar 2005
Message Posted: May 4, 2012 11:03:41 PM

Dropping in the ATL but still in the mid $3's...
Profile Pic
pastorpaulcg
Champion Author Virginia

Posts:3,615
Points:776,835
Joined:Dec 2010
Message Posted: May 4, 2012 11:02:56 PM

Amazing how election nears, gas drops
Profile Pic
knot2swift
Champion Author Calgary

Posts:5,900
Points:1,041,585
Joined:Nov 2009
Message Posted: May 4, 2012 11:00:25 PM

Aren't election years wonderful?

Maybe we should have elections every 2 years. That way we guarantee good government 50% of the time.
Post a reply Back to Topics