Gas under $4? It may be closer than you think

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GasBuddy News Article

Gas under $4? It may be closer than you think Saturday, July 19, 2008
Chicago Sun-Times -- Drivers could see gasoline prices below $4 by Labor Day, and even a nickel decline within days, after oil prices fell again Friday. In the last four days, oil prices have dropped more than $16 a barrel, as the market looked optimistically at calm weather, U.S.-Iran negotiations, failing bank rescues and lower demand for gasoline. Light, sweet crude for August delivery fell 41 cents Friday to settle at $128.88 a barrel on the New York Mercantile Exchange. A week before, it hit its trading record of more than $147. "Perhaps by Labor Day we could see gasoline prices back below $4, but we need good news," said Phil Flynn, senior market analyst for the Chicago-based Alaron Trading Group. The good news must include no big bank failures, no sudden spike in gasoline demand, no tropical storms that endanger oil rigs and no rebel attacks on pipelines in Nigeria. Drivers have been fortunate that gas prices didn't go higher, Flynn said. "Refiners and gas-station owners had a hard
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JT Moderator	Message Posted: 7/19/2008 9:06:06 AM	Ignore JT Report Abuse
	Saturday, July 19, 2008 Chicago Sun-Times -- Drivers could see gasoline prices below $4 by Labor Day, and even a nickel decline within days, after oil prices fell again Friday. In the last four days, oil prices have dropped more than $16 a barrel, as the market looked optimistically at calm weather, U.S.-Iran negotiations, failing bank rescues and lower demand for gasoline. Light, sweet crude for August delivery fell 41 cents Friday to settle at $128.88 a barrel on the New York Mercantile Exchange. A week before, it hit its trading record of more than $147. "Perhaps by Labor Day we could see gasoline prices back below $4, but we need good news," said Phil Flynn, senior market analyst for the Chicago-based Alaron Trading Group. The good news must include no big bank failures, no sudden spike in gasoline demand, no tropical storms that endanger oil rigs and no rebel attacks on pipelines in Nigeria. Drivers have been fortunate that gas prices didn't go higher, Flynn said. "Refiners and gas-station owners had a hard time passing on the costs of gasoline because demand wasn't there," he said. "We should have been paying 25 percent more for gasoline." Visit Chicago Sun-Times for full article

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POLELANE Champion Author Ohio Posts:1,630 Points:165,050 Joined:Mar 2008	Message Posted: 7/25/2008 3:08:48 PM	Ignore POLELANE Report Abuse
	g as is down, milk is up; peanuts about the same
huskyfreepdx Rookie Author Portland Posts:57 Points:7,295 Joined:Jul 2008	Message Posted: 7/25/2008 10:38:42 AM	Ignore huskyfreepdx Report Abuse
	Oil fell again today, and gas is slowly creeping down.
Hector4Christ Rookie Author Miami Posts:10 Points:78,675 Joined:Nov 2007	Message Posted: 7/25/2008 8:40:02 AM	Ignore Hector4Christ Report Abuse
	Prices in south Florida have dropped around 10 cents in the last week. Lowest prices are at $3.89.
Goofy1u2c Rookie Author Phoenix Posts:15 Points:15,935 Joined:Jul 2008	Message Posted: 7/24/2008 7:17:43 PM	Ignore Goofy1u2c Report Abuse
	Here in Phoenix, we are starting to see the price of gas finally fall below $4.00 a gallon. Lets hope that it continues to drop so that we can maybe go out to eat once a week instead of saving for the tank.
magnumCA All-Star Author Los Angeles Posts:940 Points:194,425 Joined:Jan 2008	Message Posted: 7/24/2008 5:36:51 PM	Ignore magnumCA Report Abuse
	In our area Los Angeles It is still 4.35+
drjkmond Rookie Author Cleveland Posts:44 Points:58,530 Joined:Apr 2008	Message Posted: 7/24/2008 2:50:40 PM	Ignore drjkmond Report Abuse
	We need gas at $2.00 again, or less. start drilling in the Arctic, for Pete's sake!
SHEP20715 All-Star Author Maryland Posts:658 Points:113,805 Joined:Nov 2007	Message Posted: 7/24/2008 12:46:20 AM	Ignore SHEP20715 Report Abuse
	her in MD it has fallen below 4
darthchung02 Rookie Author San Bernardino Posts:4 Points:6,755 Joined:May 2007	Message Posted: 7/23/2008 11:29:50 PM	Ignore darthchung02 Report Abuse
	As soon as gas prices go higher than $5/gallon, we will be seeing the electric cars...like the ones that were all crushed in the past.
skynet All-Star Author California Posts:612 Points:108,880 Joined:May 2008	Message Posted: 7/23/2008 10:31:19 PM	Ignore skynet Report Abuse
	Saw some $3.99 today! But I'll still be commuting by bike whenever I can.
PatAZ Veteran Author Tucson Posts:321 Points:3,380 Joined:May 2008	Message Posted: 7/23/2008 11:38:55 AM	Ignore PatAZ Report Abuse
	Never got to $4.00 in most stations here in Tucson.
HOBSONMA Rookie Author Indiana Posts:95 Points:42,250 Joined:Jun 2008	Message Posted: 7/23/2008 8:06:29 AM	Ignore HOBSONMA Report Abuse
	last yr they had us giddy when it dropped below $3. now it's 4. How about 5 ...6 ...10 ....20 ?
colefolk Champion Author Indianapolis Posts:1,800 Points:285,590 Joined:Jun 2007	Message Posted: 7/23/2008 1:12:53 AM	Ignore colefolk Report Abuse
	It is here today -- but likely will go away soon.
POLELANE Champion Author Ohio Posts:1,630 Points:165,050 Joined:Mar 2008	Message Posted: 7/20/2008 1:50:00 PM	Ignore POLELANE Report Abuse
	labor day, oh, the one where nobody works
vaca1959 Sophomore Author New York Posts:226 Points:25,740 Joined:Apr 2008	Message Posted: 7/20/2008 11:05:38 AM	Ignore vaca1959 Report Abuse
	sure it will go just a little under $4 for a few months maybe then get ready too see it go over $5 next year nationaly. its done it at $2 then $3 now $4
CrazyQ Champion Author Washington Posts:11,967 Points:1,387,500 Joined:Aug 2004	Message Posted: 7/20/2008 10:09:49 AM	Ignore CrazyQ Report Abuse
	I'm waiting ................
ilderton Sophomore Author London Posts:119 Points:50,550 Joined:Jul 2008	Message Posted: 7/20/2008 8:40:18 AM	Ignore ilderton Report Abuse
	It may drop but just wait it'll be back up in no time!
TeachR06 All-Star Author Raleigh Posts:674 Points:412,980 Joined:Sep 2006	Message Posted: 7/20/2008 8:36:56 AM	Ignore TeachR06 Report Abuse
	Would be nice but with winter coming, we'll see it rise again. Throw in a hurricane and it will never leave $4 range.
Matts_Pap All-Star Author Pennsylvania Posts:912 Points:141,570 Joined:Feb 2008	Message Posted: 7/20/2008 8:35:39 AM	Ignore Matts_Pap Report Abuse
	Too many reasons to increase and too few to drop.
4flees Champion Author Virginia Beach Posts:1,312 Points:259,185 Joined:Jul 2007	Message Posted: 7/20/2008 8:31:06 AM	Ignore 4flees Report Abuse
	Here in Va Beach we haven't had to go higher than 3.86 if you go to the right stations...
Yonkers111 Champion Author Scranton Posts:2,361 Points:161,965 Joined:Apr 2007	Message Posted: 7/20/2008 8:30:08 AM	Ignore Yonkers111 Report Abuse
	I see it every day.
fulldawg Champion Author Georgia Posts:5,615 Points:812,595 Joined:Jun 2004	Message Posted: 7/20/2008 8:27:13 AM	Ignore fulldawg Report Abuse
	What goes up.......
Jacks45 Champion Author Michigan Posts:1,861 Points:367,325 Joined:Jul 2007	Message Posted: 7/20/2008 8:18:05 AM	Ignore Jacks45 Report Abuse
	wont last. was just in another story they say not to get use to it.
Zinnoil Champion Author Illinois Posts:12,268 Points:1,442,620 Joined:May 2004	Message Posted: 7/20/2008 8:12:55 AM	Ignore Zinnoil Report Abuse
	We had a big drop to $4.19 for corn ethanol this week.
w4kh Champion Author Riverside Posts:3,330 Points:574,040 Joined:May 2004	Message Posted: 7/20/2008 8:03:56 AM	Ignore w4kh Report Abuse
	Given the shape of gasoline retailers and their non-existent profits, it would be more of a surprise to see gasoline drop much in price... The ones making all the money now? "W", DickieBoy and their Oil Buddies! Show me ONE THING the White House Idiot and his Oil Buddy VP have suggested that will help ANYONE BUT THE OIL COMPANIES! Drill, you say? Maybe one cent per gallon over 8 years, but BILLIONS in the profits of Oil Companies... With Congress and the White House so deep in the pockets of Oil, who could seriously believe the government would do anything with long term positive consequences, like get us off oil? Build mass transit? Never happen with oil on the brains in Washington :(
deannasmum Champion Author West Virginia Posts:5,470 Points:778,775 Joined:Apr 2006	Message Posted: 7/20/2008 8:02:33 AM	Ignore deannasmum Report Abuse
	It's happening around here. Some stations are at 3.89
eddyp94 All-Star Author Ontario Posts:532 Points:153,175 Joined:Mar 2008	Message Posted: 7/20/2008 7:58:32 AM	Ignore eddyp94 Report Abuse
	It won't happen
Lonewolftx Champion Author Houston Posts:5,347 Points:1,052,085 Joined:Sep 2005	Message Posted: 7/20/2008 7:55:41 AM	Ignore Lonewolftx Report Abuse
	Yeah, right . . .
hooky Champion Author Michigan Posts:6,537 Points:742,000 Joined:Sep 2005	Message Posted: 7/20/2008 7:51:32 AM	Ignore hooky Report Abuse
	Yah, sure and the monkey is starting to fly!
tags610 Champion Author Lincoln Posts:1,974 Points:446,900 Joined:Nov 2005	Message Posted: 7/20/2008 7:48:00 AM	Ignore tags610 Report Abuse
	Nothing to get excited about.
FLF Champion Author South Dakota Posts:1,291 Points:374,485 Joined:Jul 2007	Message Posted: 7/20/2008 7:44:23 AM	Ignore FLF Report Abuse
	HOW ABOUT LOWER THAN $3.00 BY CHRISTMAS!!
SUNOIL All-Star Author Toledo Posts:518 Points:331,810 Joined:Jul 2007	Message Posted: 7/20/2008 7:42:52 AM	Ignore SUNOIL Report Abuse
	$3.87 here
ledoy Champion Author Dayton Posts:4,775 Points:969,600 Joined:Aug 2005	Message Posted: 7/20/2008 7:42:30 AM	Ignore ledoy Report Abuse
	just dropped here to 3.79 but not for long
org_elizard Champion Author Greensboro Posts:76,281 Points:1,086,575 Joined:Apr 2005	Message Posted: 7/20/2008 7:41:55 AM	Ignore org_elizard Report Abuse
	G00d news!
Outie All-Star Author New Brunswick Posts:808 Points:465,050 Joined:Oct 2005	Message Posted: 7/20/2008 7:41:48 AM	Ignore Outie Report Abuse
	I still hope for a convenient electric Car.
timwil Champion Author Arkansas Posts:1,734 Points:419,955 Joined:May 2007	Message Posted: 7/20/2008 7:41:35 AM	Ignore timwil Report Abuse
	sure
hategaspricesMI Rookie Author Michigan Posts:85 Points:12,865 Joined:Apr 2008	Message Posted: 7/20/2008 7:40:39 AM	Ignore hategaspricesMI Report Abuse
	let it go down....
bell05 All-Star Author Atlanta Posts:792 Points:191,800 Joined:Jun 2005	Message Posted: 7/20/2008 7:38:51 AM	Ignore bell05 Report Abuse
	One guy bought some in Atlanta for $3.71. but not close to me. Mostly it's $3.99 to $4.05 at the cheaper places
Itsme Sophomore Author Pennsylvania Posts:239 Points:205,320 Joined:Mar 2003	Message Posted: 7/20/2008 7:38:41 AM	Ignore Itsme Report Abuse
	Bad News -- Tropical Storm in the Atlantic -- prices will more than likely go up whether is affects any rigs or not. Let's drill in other parts of the country as well.
nyuknyuk49 Champion Author Massachusetts Posts:5,051 Points:1,069,455 Joined:Mar 2005	Message Posted: 7/20/2008 7:38:36 AM	Ignore nyuknyuk49 Report Abuse
	yeah, let's see it
hangupanddrive Veteran Author Michigan Posts:461 Points:868,360 Joined:Aug 2005	Message Posted: 7/20/2008 7:38:33 AM	Ignore hangupanddrive Report Abuse
	Screw under $4.00, how about under $2.00 per gallon. Stinking thieves!!
Mazdaman7Q Champion Author South Carolina Posts:3,388 Points:717,540 Joined:Jun 2006	Message Posted: 7/20/2008 7:37:49 AM	Ignore Mazdaman7Q Report Abuse
	Hasn't broken the $4 mark yet
racerdj Champion Author Indianapolis Posts:1,263 Points:359,260 Joined:Jun 2003	Message Posted: 7/20/2008 7:32:42 AM	Ignore racerdj Report Abuse
	Looking foreward to seeing a 3 after the $ sign.
papou Champion Author Tampa Posts:2,801 Points:420,095 Joined:Jul 2005	Message Posted: 7/20/2008 7:32:10 AM	Ignore papou Report Abuse
	I hope so,it is killing my SS income
Metroman Champion Author Philadelphia Posts:5,000 Points:985,425 Joined:Aug 2003	Message Posted: 7/20/2008 7:09:51 AM	Ignore Metroman Report Abuse
	It dropped under $4 yesterday
Hangnail309 Sophomore Author Manitoba Posts:179 Points:137,675 Joined:Aug 2006	Message Posted: 7/20/2008 7:04:29 AM	Ignore Hangnail309 Report Abuse
	Hmmm, ...
Pede All-Star Author New Jersey Posts:743 Points:97,745 Joined:Apr 2007	Message Posted: 7/20/2008 7:02:50 AM	Ignore Pede Report Abuse
	Alaron Trading Group sounds like the speculators are talking about all the reasons they use to falsely raise the price of energy: big bank failures, no sudden spike in gasoline demand, no tropical storms that endanger oil rigs and no rebel attacks on pipelines in Nigeria, And then we have to be over joyed that the prices does not go higher. What nerve when they are making record breaking profits verging at the hedge of theft. [Edited by: Pede at 7/20/2008 7:03:58 AM EST]
BH24 Champion Author Arkansas Posts:1,535 Points:608,860 Joined:May 2005	Message Posted: 7/20/2008 6:59:37 AM	Ignore BH24 Report Abuse
	What happy news! That would mean that since the Democrat Party took control of Congress two years ago the increases that we've seen would not be nearly as hard to take. Why, a $3.98 price per gallon would mean, for example, that prices at the pumps have only increased by 81% since the liberals took over. In other words, mere 4.5% per month average price rises since that time.
VetteFan Champion Author Ohio Posts:1,242 Points:348,935 Joined:Aug 2005	Message Posted: 7/20/2008 6:58:47 AM	Ignore VetteFan Report Abuse
	Fortunately for me, prices have dropped in my part of Ohio. Currently we are at $3.97 a gallon.
Raider44 Sophomore Author Allentown Posts:198 Points:85,390 Joined:Apr 2008	Message Posted: 7/20/2008 6:58:42 AM	Ignore Raider44 Report Abuse
	Gas prices floor not going to be significantly lower than present - price ceiling (if there exists such a thing) unfortunately much higher.
Marson All-Star Author Pennsylvania Posts:762 Points:429,865 Joined:Oct 2006	Message Posted: 7/20/2008 6:58:36 AM	Ignore Marson Report Abuse
	We are under $4 in some parts of PA.