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tiki03
*************
Member since 9/05 8660 total posts
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Article from CNN regarding gas prices
Gas may be headed back near $2
Analyst sees prices 'closer to $2 than $3' by Thanksgiving, newspaper reports.
August 30 2006: 7:20 AM EDT
NEW YORK (CNNMoney) -- The recent drop in prices at the pump could pick up steam, driving gasoline sharply lower in coming months, USA Today reported Wednesday.
'We'll be closer to $2 than $3 come Thanksgiving,' Fred Rozell, a gas analyst at at the Oil Price Information Service, told the newspaper.
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The average cost of a gallon of gas peaked this year at $3.036 on Aug. 10, the newspaper said, citing surveys by the motorist organization AAA and Rozell's OPIS.
AAA reported a nationwide average of $2.84 Tuesday, the lowest since April 20, according to the article.
Online gasoline price survey site Gasbuddy.com shows Wednesday's national average at $2.80.
Several factors are behind the recent declines: the end of the summer driving season, which reduces consumer demand for gasoline as well as, the end of seasonal federal requirements on gas that makes the cost of importing and refining it cheaper, the newspaper reported.
Overall gas consumption is down for the year, which takes the edge off wholesalers prices, who in turn are trying to get rid of the product.
Finally, petroleum traders, worried that high prices won't last, are anxious to sell their holdings, the newspaper reported.
Crude oil, accounting for about half the price of gasoline, closed below $70 a barrel Tuesday for the first time since May 4.
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Posted 8/30/06 9:28 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
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Re: Article from CNN regarding gas prices
I hope they are right! The mid-class economy needs to strengthen up
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| Posted 8/30/06 9:55 AM |
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pinky
Twin Moms Do Everything Twice
Member since 5/05 9612 total posts
Name:
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Re: Article from CNN regarding gas prices
thank goodness!
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| Posted 8/30/06 11:44 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Article from CNN regarding gas prices
that's great
I need the middle one- and I have seen a big drop already
I paid $3.19 this week and then I saw a no-name brand for $3.11
when you have to buy 20 gallons ( from 1/4 of tank!) like me - it adds up pretty quick
if I can get it for $60 or less I am 
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| Posted 8/30/06 12:10 PM |
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Bri
I Love You to Pieces!
Member since 5/05 9919 total posts
Name:
Brianne
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Re: Article from CNN regarding gas prices
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| Posted 8/30/06 12:31 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Article from CNN regarding gas prices
that would be nice. but I don't understand how these "experts" think they can see into the future
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| Posted 8/30/06 12:53 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
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Re: Article from CNN regarding gas prices
Posted by SweetestOfPeas
that would be nice. but I don't understand how these "experts" think they can see into the future
I feel the same way. On Monday, 1010wins said that another expert predicts that gas prices will go up to $4.00/gallon by winter.
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| Posted 8/30/06 1:04 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Article from CNN regarding gas prices
Posted by Pumpkin1
Posted by SweetestOfPeas
that would be nice. but I don't understand how these "experts" think they can see into the future
I feel the same way. On Monday, 1010wins said that another expert predicts that gas prices will go up to $4.00/gallon by winter.
pfffft!  just like the "experts" who predicted this would be the worst year on record for hurricanes
Message edited 8/30/2006 1:07:23 PM.
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| Posted 8/30/06 1:07 PM |
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