Gas expected to fall 25 cents by Labor Day

[babylonsister]

Gas expected to fall 25 cents by Labor Day
By JIM FUQUAY


Gasoline prices are down nearly a dime a gallon from their record highs just a week ago, and the auto group AAA Texas says steeper declines could be coming even if crude-oil prices stay at current levels.

In Fort Worth-Arlington, a gallon of regular unleaded gasoline averaged just under $3.88 as of Thursday, 10 cents less than the peak of nearly $3.98 July 16, according to AAA’s survey of service stations. Statewide, gasoline averaged $3.90, down 9 cents from the peak, and the national average was just over $4, down from a peak of $4.11.

"After increasing steadily since spring, gasoline prices nationally and in Texas rapidly moved downward as the price of crude oil has fallen by about $20 a barrel, or 14 percent, since the July 7 peak of $145.29," AAA said. Crude-oil futures closed Friday at $123.26.

AAA Texas spokesman Dan Ronan said, "If the current price of $123 holds or moves lower in coming weeks, there could be a decrease of about 25 cents a gallon in self-service regular unleaded between now and Labor Day."

more...

http://www.star-telegram.com/804/story/785552.html

[Clark2008]

1. Just in time for the election!

Did anyone doubt this would happen?

[gatorboy]

6. A dollar drop might be impressive.

But I don't see anyone making an election choice on a 25 cent drop. That this is a story is an insult.

[Historic NY]

16. Show me the money $$$$$$ 2 bucks could seal the deal.

[spanone]

8. why not? happened last time

[meow2u3]

11. Gas prices fell two years ago prior to Election 2006....

...and immediately jumped when Democrats took control of Congress.


Is it just me, or did Big Oil jack up prices to spite the Democrats and the American people? :shrug:

[liberal N proud]

I would bet it remains high through the Labor Day holiday weekend

After that it will drop, the summer travel season will be finished and the "demand" that they can never seem to foresee each year will wain.

It is a damn crime the way they play us.

[TheFriendlyAnarchist]

2. 3.54 here, lowest that it's been for months.

Much nicer than 4.19, the $7 that I can usually hussle out of friends actually feels like it does something now.

[Occam Bandage]

3. Gas prices going down after a summer peak? I bet that means they'll stay down forever!

[Muttocracy]

4. so which way will the GOP swing prices in October

down so they can say, look we fixed it, keep us in office!!!

or up so they can say, uh oh, need tax relief more drilling invade middle east don't change horses!!!

[loveable liberal]

5. $3.60 a gallon OOOOOh what a deal....

stupid gasoline.

[Muttocracy]

7. Down to $4.17 again here - woo hoo!

[Andy823]

9. Down 6 cents here

In central Washington state, it's now "only" $4.29 for gas, and diesel came down from $5.13 to $4.99! Not really much of a drop, but as some have said, it will remain high till after labor day. I think a lot of the price dropping is the threat from congress to pass laws that put stiffer regulations into effect on speculators. "IF" it passes, they know they are going to have to change the way they "manipulate" prices. If the price comes down congress may not pass the tougher regulations, and that's what they are hoping for. If tougher regulations are not passed, then we will be back in the same boat next year, or shortly after the election.

[Gabi Hayes]

10. diesel hasn't gone down a PENNY in over a month in Chicago

I check almost every day

just filled up @ $4.59 today, and paid the same over a month ago. that's the cheapest price in the chicago area, according to the site I go to

[TheFarseer]

13. This is a form of price-fixing IMO

The oil companies can control the price of diesel by choosing to refine more gasoline. Demand for Diesel is less elastic than gasoline so high prices won't affect sales as much. People can drive less but truckers and farmers can't work less.

[Gabi Hayes]

14. I drove from here to the NC outer banks and back in the last three weeks

the lowest price I saw, which was during the return trip, in Indianapolis was about 4.45, but that didn't include tax, which they wouldn't TELL me before I pumped, so I went elsewhere

highest was 4.95

average price was about 4.75 with about a ten cent variance, everywhere I went.

I look for diesel to go up because of the massive spill in NO

did you hear what it's costing PER DAY in cleanup and lost business costs?

astro fricking NOM ical

[Hubert Flottz]

12. And Go up to $8.99.9 by winter if John Who-Same takes the White

House in 2009.

The people who fuel America also fuel John McSame's ticket to the white house. A political trick to try and fool some voters, IMHO.

[onethatcares]

15. and it was so high because of what?

did ANWAR get opened? Have the oil companies been able to build all the refineries they needed in three short weeks? It's a fucking scam, no more no less. :wtf: