Average gas prices in the United States are likely to fall as low as $2.25 per gallon, the U.S. Energy Information Administration said today. “Reductions already seen in spot and futures markets could imply a further decrease in the U.S. average retail price of as much as 25 cents (to around $2.25 per gallon), if those wholesale markets don’t turn upward in the interim,” the EIA said in its weekly review of the oil market. The national price for regular gasoline has already declined 54 cents over the last six weeks.
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09/20, 5:37 PM
posted by:
Ferg
Prices are dropping to distract the moronic masses. As long as they’re down, we collectively give up on looking for new sources of energy, which would be big competition for the oil companies.
Stay on your Congressmens’ and Senators’ asses about finding alternative source of energy, or eventually, prices will again get out of hand and we’ll still have nothing else to fall back on.
09/20, 5:39 PM
posted by:
mbftw
Same picture is used for gas headlines! haha
09/20, 5:40 PM
posted by:
Madcapp
Real insightful prediction, how do they do it? Gas was $2.01 a gallon by me yesterday, its $2.24 today. Wouldn’t be because of the election 6 weeks away, and 85% of the oil companies campaign contributions go to Republicans would it?
09/20, 5:59 PM
posted by:
Jameson
$2.25 is still way too expensive. If they got gas down to about $1.30, I’d be happy enough.
That said, we still need to consume less and treat gasoline like its a valuable commodity, now matter the price. Quit buying cars that get less than 25 mpg on the highway. Drastically reduce unnecessary car trips of under 5 miles each way and bike instead (where feasible).
Government can retime stoplights and remove unnecessary traffic control devices to reduce starting and stopping. Government can also build more highways to alleviate congestion in bottled up areas. It can also invest in a high speed rail system to alleviate our dependence on air travel for long trips (which are a real fuel guzzler). It can also allow more nuke plants, solar, and wind to replace oil and gas fired power plants.
There are a lot of things we could do to get around the problem. The “market” is usually very good at making necessary adjustments, however, this is an anomoly. There is more to this than meets the eye, to be sure.
09/20, 6:14 PM
posted by:
Piablo
Here’s a link for the conspiracy theorists… Here is the truth about how gas prices are derived as apposed to George Bush and the right wingers controlling this country like a video game.
http://www.msnbc.msn.com/id/14891597/
09/20, 6:23 PM
posted by:
mertzen
Is that a promise?
09/20, 6:50 PM
posted by:
RustedEmpire
so…what will it be??
First an Article saying prices could go as low as $1.15…Now they say it would reach only $2.25… I bought gas for 2.08 the other day… Something weird is going on…
09/20, 9:08 PM
posted by:
Jameson
Where are all these “cheap prices?” The cheapest I’ve seen is $2.52 just norht of Orlando, FL.
09/20, 9:16 PM
posted by:
Joey D
2.25? Wow I paid 2.15 today, guess I’m special.
09/20, 9:25 PM
posted by:
Detroit Dude !
YA THINK ????? I agree w/Joey, it’s $2.16 / gallon in my neck ‘o the woods and falling fast.
09/20, 10:32 PM
posted by:
InvisibleEcho
Didn’t we go over this when they came out with the article about the $1.25/gallon gas prices?
I think that Jameson has hit the nail on the head – also, most large oil companies do not give one damn about their market as long as they have the supplies they need. It’s kind of unfortunate that the free-market capitalist economy generates competition and high speed/resource development and infrastructure, only to brew the same “me first” ideology that makes corporations turn into bad guys against the public they pander to.
My suggestion is to make cars that run off of feces. That way, the big companies will never run out of supply and consumers will win out on extremely low prices. Seriously though, trying to regulate gas consumption in the United States would probably be like other organized attempts to save the planet such as recycling – adopted by a minority of the society whilst the rest of the consumers make up for the benefits generated by them.
I still think that regulation is a good idea. NO idea how I would implement it in a fashioin that would be conducive to cooperation by the society as a whole…
09/20, 10:46 PM
posted by:
noooorb
yea it’s clrearly election time
09/20, 10:57 PM
posted by:
Endurancevm
What happened to the good ol days back in 1999 when gas was only $1.15…
09/20, 11:37 PM
posted by:
Jameson
I remember when it was $0.729 in North Carolina during Jan 1999. In SC, it was $0.679. Dang we had it good.
09/21, 8:53 AM
posted by:
Uncle B
$2.23 on Monday
$2.21 on Tuesday
$2.19 on Wednesday
$2.16 Today
These are the gas prices at some of the gas stations that I pass on my way to work in the Metro Detroit area.
I like this trend
09/21, 12:02 PM
posted by:
Ricardo Head
MAYBE … Big Oil will take heed of California’s stupid baseless lawsuit against carmakers, and realize that their deep pockets are next on the enviro-wankers hitlist, and so they will cease selling gas in CA completely, thereby flooding the rest of the nation with excess fuel and refining capacity and drive the price back to 95 cents!
.
Hey, a guy can dream…
.
09/22, 12:41 AM
posted by:
Renton
Great……..now I will get that Escalade.