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The gas price disaster that didn’t materialize

Politico -- Remember the $6 we were all supposed to be paying for a gallon of gasoline about now?

It didn’t happen, despite the dramatic predictions from armchair pundits, political candidates and some in the media.

Instead, gasoline has settled around $3.40 a gallon as of Monday — rising for the moment, although perhaps nearing what some fuel-price experts consider a plateau of sorts. But credible analysts concede that too many variables are at play for any certainty.

“The real truth is no one really knows. There’s so many unknowables,” said Guy Caruso, former head of the U.S. Energy Information Administration under President George W. Bush.

Among the complex ingredients are possible future conflicts in the Middle East or a global economic crisis, as well as the strength of the U.S. dollar and


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Submitted Jul 17, 2012 By: angel4me
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: The gas price disaster that didn’t materialize Back to Topics
REPLIES (newest first) Post a Reply
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mecforyou
Champion Author Iowa

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Message Posted: Jul 20, 2012 6:03:58 AM

It will make it sometime
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 19, 2012 5:02:35 AM

Gassed01: pig oil greed?
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honda0105
Champion Author Tallahassee

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Message Posted: Jul 19, 2012 4:54:24 AM

goes to show how much predictions are just that... a look in the crystal ball. Lemme see what mine says. Oops, can't tell, it just broke.
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sparky808
Champion Author Honolulu

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Message Posted: Jul 18, 2012 12:19:23 PM

Thank you for posting.
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Eugene_C
Champion Author Columbus

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Message Posted: Jul 18, 2012 9:26:05 AM

Speculative bubble popped again.
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justmedc
Veteran Author Michigan

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Message Posted: Jul 18, 2012 5:42:31 AM

still should be lower than what it is!
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1006
Champion Author Birmingham

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Message Posted: Jul 18, 2012 5:42:01 AM

agree indie. there are some certainties of what he'll do - tax, tax, tax
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RogerB
Champion Author Indianapolis

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Message Posted: Jul 18, 2012 12:59:19 AM

If the wrong person gets into the White House in November, watch out!
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METEOR49
Champion Author Ontario

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Message Posted: Jul 17, 2012 11:23:10 PM

WITH SUCH A GLUT OF OIL WHY ARE PRICES SO HIGH ?
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Nicoalbum
Champion Author Ottawa

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Message Posted: Jul 17, 2012 11:16:34 PM

I am still looking forward to see $6/gal. Canadian gas is already $5.50
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bigdipperMS
Champion Author Mississippi

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Message Posted: Jul 17, 2012 11:14:06 PM

If the World Economy improves, you can bet the price of gasoline will rise. We need to become energy sufficient in the USA.
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eightiesgod
Champion Author Ohio

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Message Posted: Jul 17, 2012 11:13:44 PM

old
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jrschl
Champion Author Louisville

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Message Posted: Jul 17, 2012 11:08:22 PM

Yes, yes. We all know how this is going to pan out.
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jimedB
Champion Author Riverside

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Message Posted: Jul 17, 2012 11:07:18 PM

Seems like predicting future gas prices is even less reliable than predicting the weather. What happened to the good old Farmers Almanac? They were able, in times before all the high tech stuff, to print a book that would be almost 80% accurate with weather forcasts for the coming year. Now they are about 50/50. So much for modern change.
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OceansidePoms
Champion Author Massachusetts

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Message Posted: Jul 17, 2012 11:04:39 PM

I do agree.... It is still too high, but I will not accept $6/Gallon, not in this lifetime! Not with what we can all afford right now! Speculation kills any good price run, but there are also a lot of variables as the article said...
But I think the greed & speculation as well as companies like big oil, have much more impact than the variables... But that's only my opinion..
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joel27nc
Champion Author Raleigh

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Message Posted: Jul 17, 2012 11:01:40 PM

I hope gas prices start to drop again!
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boatmen
Champion Author New York

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Message Posted: Jul 17, 2012 10:59:53 PM

They were all salivating at the thought of $6 Speculators, Big oil, Banks all the GREEDY Biches
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Agarre
Champion Author Richmond

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Message Posted: Jul 17, 2012 10:58:11 PM

Indeed
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clermont40miles
Champion Author Cincinnati

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Message Posted: Jul 17, 2012 10:57:54 PM

Speculation and hyperbole.

That is the "news" business.

Be vewy, vewy, vewy afraaaaaid!
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A2J
Champion Author Richmond

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Message Posted: Jul 17, 2012 10:56:31 PM

Ok
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forget1thing
All-Star Author Fort Worth

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Message Posted: Jul 17, 2012 10:55:06 PM

still too high but lets be thankful its not like in europe $5-$8/gal equivalent i would be happy with it around $2.50$2.70 with the way its been after 08 anyone remember when $1.85 was high? i remember when it hit that then fell to 99 cents at the at the time diamond shamrock now valero near my house boy would that be nice or after 08 here its high was 3.97 and fell all the way down to $1.29 cost me $28 to fill my 20 gal tank on e when light was on forever now i get about 4-5 gals on $20 so it could be and should be soo much cheaper
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seabrz7
Champion Author California

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Message Posted: Jul 17, 2012 10:54:58 PM

Maybe not that disaster, but it is still currently a disaster.
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EmperorsFinest
Champion Author Chicago

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Message Posted: Jul 17, 2012 10:53:05 PM

Tubular
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mgune9
All-Star Author Dallas

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Message Posted: Jul 17, 2012 10:51:37 PM

prices headed north again - hopefully not to those predictions

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gd83goldwinger
Champion Author South Bend

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Message Posted: Jul 17, 2012 10:47:09 PM

I would like to see 3.40 it's closer to the 4 range.
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texashoudini
Champion Author Austin

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Message Posted: Jul 17, 2012 10:47:01 PM

It's still a disaster. Gas prices were looking good, but now are going up and for what reason? I have no idea unless it's speculation.
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northeast2
Champion Author New York

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Message Posted: Jul 17, 2012 10:46:49 PM

It's all speculation. Like LIBOR.
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Blue48
Champion Author Illinois

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Message Posted: Jul 17, 2012 10:45:00 PM

WE ALL LUCKED OUT!
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Jul 17, 2012 10:43:16 PM

I just KNEW we'd be paying $5.00 a gallon by now. Not complaining, though. . .
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saturn33mpg
Rookie Author Pennsylvania

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Message Posted: Jul 17, 2012 10:42:20 PM


DEG wrote: "I suspect that Oil producers are attempting to rig the US election. Gas is probably going to go up rapidly after the election."

I'm curious as to your reasoning....

I'm expecting BEFORE rather than AFTER the election. I assume Big Oil wants Obama out. If prices rise between now and the election, Obama will get blamed. (Of course, when the US prices at the pump were dropping through most of this past April, May, and June, I didn't hear anyone giving Obama credit for that change. But of course that's a different story.)
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MacDad614
Champion Author Atlanta

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Message Posted: Jul 17, 2012 10:39:51 PM

Stop the speculators and stop the collusion / price fixing.

Prices are much higher in Canada because of the taxes on gasoline. Same with Europe.

You could be a citizen of Venezuela and buy gas for pennies per gallon.

[Edited by: MacDad614 at 7/17/2012 11:41:32 PM EST]
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Tracer2008
All-Star Author Alberta

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Message Posted: Jul 17, 2012 10:39:41 PM

Prices can't sustain that level...
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mstearno
Champion Author Dayton

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Message Posted: Jul 17, 2012 10:37:36 PM

he's not done yet
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sillywagon
Champion Author New York

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Message Posted: Jul 17, 2012 10:36:42 PM

Why is gasoline so much more expensive in Canada than in the USA?

Are we supposed to be happy that we are paying the high price of $3.70 a gallon? Would I even be driving if prices got over $6.00 a gallon?
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Jeeputtputt
Champion Author Ohio

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Message Posted: Jul 17, 2012 10:34:02 PM

keep speculating (talking) , it will
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bvrbill
Champion Author Eugene

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Message Posted: Jul 17, 2012 10:33:27 PM

"The truth is no one really knows".

But, you can count on prices rising over time.
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nztyraider
Champion Author Nevada

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Message Posted: Jul 17, 2012 10:32:46 PM

Not yet anyway.
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dllexport
Rookie Author Toronto

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Message Posted: Jul 17, 2012 10:32:40 PM

Don't complain. It's over $4.75/gallon north of the border
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beachmanglen
Champion Author Tampa

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Message Posted: Jul 17, 2012 10:32:22 PM

They're right, no one really can predict the market.
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coughlin
Champion Author San Jose

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Message Posted: Jul 17, 2012 10:32:21 PM

We're half way through the Summer.
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 17, 2012 10:32:08 PM

Anything is possible.
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wilbur_gas
Champion Author Los Angeles

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Message Posted: Jul 17, 2012 10:28:57 PM

Well it ain't over yet!
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DEG
Champion Author Las Vegas

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Message Posted: Jul 17, 2012 10:28:07 PM

I suspect that Oil producers are attempting to rig the US election. Gas is probably going to go up rapidly after the election.
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colaguy
Champion Author Columbia

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Message Posted: Jul 17, 2012 10:27:50 PM

thankfully
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RAC110
Champion Author Massachusetts

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Message Posted: Jul 17, 2012 10:26:05 PM

$3.54 for getting gas today around here for Gulf
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10k
Champion Author North Carolina

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Message Posted: Jul 17, 2012 10:25:59 PM

gas prices ain't rising here-they are soaring here..somebody better look out their door-22¢ jump now, and our area never got anywhere near sub $3/gallon..nobama's campaign ramping up ??..

i was looking at pix of atlantic beach, nc's 75th anniversary celebration, and in the background of a pic taken in 1996, 16 years ago, was a sign advertising gas for $1.18..by my calculations, that means the price of gas has tripled in those 16 years-has your paycheck tripled during that time ??..

[Edited by: 10k at 7/17/2012 11:31:25 PM EST]
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abcdMA
Champion Author Worcester

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Message Posted: Jul 17, 2012 10:24:20 PM

prices peakedand dropped because the economy IS indeed in a recession. Second one in 3 years
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drobbbb
Champion Author Maryland

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Message Posted: Jul 17, 2012 10:23:42 PM

ok
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CVA19
Champion Author Salem

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Message Posted: Jul 17, 2012 10:23:21 PM

How predictable by Politico to compare unbearably high gas prices to even more unbearable forecast prices, and suggest that we dodged a bullet.
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5kvdave
All-Star Author Los Angeles

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Message Posted: Jul 17, 2012 10:22:51 PM

More B.S.
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