Are gas prices going to stay low now?

Question

Gas has been going down for a few weeks now, which goes against everything I heard at the start of summer, which said we would be at $5/gallon by now.

The local gas station is currently at $3.35/gallon.

Is this just a blip on the radar screen, or can I expect more moderate gas prices to remain?

Answer 1

don't count on it.

Answer 2

Most financial analysts think the price of oil per barrel will drop down to around $90 or $100 by late fall.

Answer 3

That's low?  Gas was under $3 just 3 year ago and less than $2 just 4 years ago.  The gas spikes will just get worse.

http://zfacts.com/p/35.html

Answer 4

If you think $3.35 is a moderate gas price, then you need to get a grip on reality...

Answer 5

Gas prices are going to go up later cause it's almost september which is the peak of the hurricane season which could disrupt the gulf and effect the oil refineries and that there's some tension going on with russia and georgia where georgia has a key US oil pipline going through it.  

Answer 6

Oil prices will continue to fluctuate, but will remain higher than they historically have been due to demand from China and India and the inevitable fact that oil is a finite resource.

Answer 7

Be glad.  Currently, our prices are still at least $0.60 higher than yours.  And I still don't think $3.35 is low.

My brother-in-law talked to some analyst who said that gas prices would continue to drop to about $3.50 (you're already past that) and then they will sky rocket and stay up.

Answer 8

No, It will go back up.

some cnbc guy said oil going to 149 soon

Funny how it doubled since Pelosi took office. the chart looks like a hockey stick since Jan 2007

http://futures.tradingcharts.com/chart/C...