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Will gasoline prices ever fall back down?

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1jfuddle Donating Member (48 posts) Send PM | Profile | Ignore Tue May-11-04 12:36 AM
Original message
Will gasoline prices ever fall back down?
Just that. I get 20 mpg around town. It is starting to kill me.
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Taylor Mason Powell Donating Member (681 posts) Send PM | Profile | Ignore Tue May-11-04 12:52 AM
Response to Original message
1. well...about that...
www.lifeaftertheoilcrash.net

(pleasant dreams!)

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Fovea Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 12:52 AM
Response to Original message
2. Briefly, from July to December.
Use the time to trade for a higher gas milage vehicle.
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TrogL Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 12:56 AM
Response to Original message
3. In October
just in time for Dubya to take credit for it for the November elections.
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TheWizardOfMudd Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 01:55 AM
Response to Reply #3
6. Dizackly
After the oil companies and Saudis make an extra couple of billion.
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NYC Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 01:26 AM
Response to Original message
4. OPEC will be discussing a production increase
in early June.

From the Toronto Star:

Naimi added that, at the June 3 meeting of the Organization of Petroleum Exporting Countries, he will propose output increases "not be less than 1.5 million barrels a day."

Crude oil prices for June delivery dropped $1 (U.S.), or 2.5 per cent, to close at $38.93 a barrel in New York yesterday...

Pyle's (Andrew Pyle at the Bank of Nova Scotia) group expects crude oil prices to eventually fall to $34 but it will be a rough ride...

But OPEC president and Indonesia's energy minister Purnomo Yusgiantoro said high crude oil prices could last through the summer, the Financial Times newspaper reported today.
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vajraroshana Donating Member (762 posts) Send PM | Profile | Ignore Tue May-11-04 01:41 AM
Response to Reply #4
5. I heard that the royal Saudis are already trying to encourage an increase
Sorry, I don't have a link. Just heard a snippet on the radio. But if it's true that the Saudis are encouraging OPEC to make an increase in the production of crude oil, it'll take at least a couple of months or more for any increase to be produced into gas in the US.

And then a bit of a lag time before that shows up in the price at the gas station. Gee, how convenient. That'll show up as a big gas price decrease sometime in August/September.





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physioex Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 02:32 AM
Response to Reply #5
7. No link required...
This was discussed by Bob Woodward several times. Starting with his interview on 60 minutes.
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RoyGBiv Donating Member (1000+ posts) Send PM | Profile | Ignore Tue May-11-04 02:59 AM
Response to Reply #5
8. Here's a link...from yesterday's USA Today
Oil prices fall on request for increase in OPEC quotas

http://www.usatoday.com/money/industries/energy/2004-05-10-opec-oil_x.htm
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