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End of crash in gas prices is "here or near"

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The average price of self-serve, unleaded gasoline on Friday in the United States was $1.97, said Trilby Lundberg, publisher of the Lundberg Survey. The last time the price was below $2 was on March 4, 2005, she said.

The all-time high average was $4.11, set on July 11, according to Lundberg, and prices have been dropping ever since.

"The rate of decline has slowed somewhat, but it is still dramatic at 33 cents in two weeks," she said.

Diesel prices averaged $2.93 on Friday, slumping under $3 for the first time since September 2007, she said.

Lundberg attributed the price reductions to a drop in crude oil prices and demand, and also because of low refining margins.

"Crude oil remains [the] main driver," for the decline, she said, noting that crude oil futures settled on Friday below $50.

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Demand is always low in November, she said, but the weakening economy is reducing it further.

However, Lundberg said that if crude oil prices do not fall further, "then the end of this [gasoline] price crash is either here or near."

http://www.cnn.com/2008/US/11/23/us.gas.pr...berg/index.html

Man is made by his belief. As he believes, so he is.

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It's currently $1.64 here in fly-over land.

Lady, people aren't chocolates. Do you know what they are mostly? Bastards. ####### coated bastards with ####### filling. But I don't find them half as annoying as I find naive bobble-headed optimists who walk around vomiting sunshine.
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However, Lundberg said that if crude oil prices do not fall further, "then the end of this [gasoline] price crash is either here or near."

If. And that's a big if.

The options market has already priced in a likelihood that oil prices could sink as low as $40-$45

a barrel before the end of the year. The cost of insuring against such an event jumped more

than 90 per cent.

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Filed: Country: Vietnam
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$1.99 in the O.C :dance:

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24-Jan-05 Interview----------------Passed

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06-Mar-05 ----Nicole is here!!EVERYBODY DANCE!

10-Mar-05 --US Marriage

01-Nov-05 -AOS complete

14-Nov-07 -10 year green card approved

12-Mar-09 Citizenship Oath Montebello, CA

May '04- Mar '09! The 5 year journey is complete!

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$1.39 here in Kansas City tonight.

How long will it last? I say about 2 months, then it will climb up over $2.50 and hold for a while.

Thoughts?

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$1.39 here in Kansas City tonight.

How long will it last? I say about 2 months, then it will climb up over $2.50 and hold for a while.

Thoughts?

I hope you're wrong. Low gas prices make life a lot easier during shitty economic times! I hope everyone who was talking wind power, nuclear power, solar power, offshore drilling, etc. during the really high gas prices sticks to their ambitions and creates enough of the alternative energy to keep oil demand and prices down.

Save Shpat's threads

69-97-116-32-83-104-105-116-32-74-101-110-110

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$1.39 here in Kansas City tonight.

How long will it last? I say about 2 months, then it will climb up over $2.50 and hold for a while.

Thoughts?

I hope you're wrong. Low gas prices make life a lot easier during shitty economic times! I hope everyone who was talking wind power, nuclear power, solar power, offshore drilling, etc. during the really high gas prices sticks to their ambitions and creates enough of the alternative energy to keep oil demand and prices down.

Agree with that concept Brother!! Although, I am thinking about a 1,000 gallon reserve gas tank in the interim........Probably because dumb azz traders will screw us all....

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We jumped back up to $1.75/gallon here a few days ago. It's back down to the $1.65 range now.

I think trading on gas futures is just wrong. Keep these people the hell out of our wallets!

I'm hoping gas stays low through the summer. Not counting on it at all, but it would be really, really nice if it stays low when I start back to driving 120 miles per day 5 days per week in March/April.

Lady, people aren't chocolates. Do you know what they are mostly? Bastards. ####### coated bastards with ####### filling. But I don't find them half as annoying as I find naive bobble-headed optimists who walk around vomiting sunshine.
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