2016 Postmortem
Related: About this forumOne bit of good news for Obama: Gas prices expected to drop to $3/gal by Fall
The darkening clouds of the slowing economy could provide a bright spot for consumers: gasoline at $3 a gallon or less by autumn.
Nationally, regular gasoline averages $3.47 a gallon, down 47 cents from this years high in April and well below the $5-a-gallon fears fanned earlier this year by energy speculators, Middle East tensions and oil refinery glitches that crimped supplies.
Those issues appear to be over, at least for now. Thursday, West Texas Intermediate crude oil fell 4 percent to $78.20 a barrel, the lowest price since early October and off 20 percent year-to-date.
Coupled with slumping wholesale gasoline contracts for fall delivery, the market is suggesting gas below $3 by Halloween, and certainly by Thanksgiving, says Tom Kloza of the Oil Price Information Service.
http://www.rgj.com/article/20120622/BIZ07/306220037/Gas-prices-may-drop-3-per-gallon?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp
Rambis
(7,774 posts)Then when gas went to 4 and 5 dollars claimed the president does not influence gas prices. FYI when Clinton was president gas was 2.00$ per gallon. Bush called it outrageous.
dipsydoodle
(42,239 posts)that means the US can dispose of a no renewable fuel resource at a lower cost.
doc03
(35,348 posts)peep out of any Rethug lately about gas prices. It is Obama's fault when they go up.
liberalnationalist
(170 posts)i see the lowest price in my area is 3.09 a gallon with Sam's Club membership..no membership 3.12
FYI BEFORE I GET BANNED FOR MENTIONING A WALMART STORE....I DO NOT BUY MY GAS THERE, this info per gasbuddy.com
hrmjustin
(71,265 posts)TexasTowelie
(112,251 posts)Oh, the irony.
bigwillq
(72,790 posts)Most of us could use a break at the pump. And I really only go to work and back.
DCBob
(24,689 posts)Now that prices are dropping to reasonable levels we hear nothing about it.
magical thyme
(14,881 posts)Heh! This spring I got smart and when they started claiming $5/gal to come, I held off refilling my oil tank. I'm holding out til the last minute.
I just got mail from my supplier with a program where I can lock in a cap, never pay more than that *and* if the price drops further, get the lower price.