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

[rclouse 0]

I can believe it. I filled my GSX up with premium at Costco for $1.999, yesterday it was $2.049.

Still, was happy to finally pay less than $2 for the first time in like 4 years.

/stupid Bush

[amiquechu 0]

Low gas prices is such a happy topic

[Muh and me 18]

The lowest I've seen it for is 1.69

[mawilson 2,133]

$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.

What makes you say that?

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!

Why? You should thank the traders for driving the price of gas down.

[William33 110]

$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.

What makes you say that?

Because daily oil production is being cut.

Moreover, Exxon/Mobil's profits will fall dramatically in the 4th Quarter.....You know they will do something to manipulate the prices.

[mawilson 2,133]

Because daily oil production is being cut.

The futures market will certainly price in this concern, although Opec have already decided

to delay a production cut until mid-December. Oil prices fell more than 8.5 percent today

below the $50 a barrel level.

Moreover, Exxon/Mobil's profits will fall dramatically in the 4th Quarter.....You know they will do something to manipulate the prices.

That's possible; however unleaded gasoline futures for Jan 2009 delivery are trading

at $1.13 today and are expected to go even lower.

[William33 110]

Because daily oil production is being cut.

The futures market will certainly price in this concern, although Opec have already decided

to delay a production cut until mid-December. Oil prices fell more than 8.5 percent today

below the $50 a barrel level.

Moreover, Exxon/Mobil's profits will fall dramatically in the 4th Quarter.....You know they will do something to manipulate the prices.

That's possible; however unleaded gasoline futures for Jan 2009 delivery are trading

at $1.13 today and are expected to go even lower.

Excellent news! Me and my wallet, appreciate the update.

[mawilson 2,133]

It's interesting that Opec decided to pass on making any quota cuts last weekend despite

knowing full well that the oil markets are over-supplied.

Apparently they want to enforce stricter compliance of existing cuts before introducing

new ones. They were supposed to lower production by 2m barrels a day (1.5m in October

alone), but so far have only cut about 1m-1.2m b/d.

Ten years ago, when crude dropped from its 1996 peak to the low of just more than $10

set in Dec 1998, it took three cuts to reverse the slide.

[Ban Hammer 13,346]

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.