Will gas prices drop in the near future?

Question

I've heard gas prices will continue to increase up to $10/gal. Does anyone know for sure?

Answer 1

Like everything in the world, the prices will go up until we don't need it any more (Can you think of anything that cost less than it did 100 years ago?).

As for whether the prices will be too expensive for the average person to buy, that depends on so many factors. Will there be a war in an oil producing country (Iran, Saudi Arabia, Canada, Mexico, the US)? Is there a good substitute for petrolium (coal, bio-deisel, solar, nuclear)? Is tecnology getting better at refining and extracting oil? Are cars getting better gas milage or running on something other than gas (there will be a car that runs on compressed air in the US in 2010, electric cars are getting better)? Can the US drill for the vast amounts of oil we have to reduce the prices?

All of these are factors. And they are all out there, along with others.

Me, I am waiting for the Compressed Air Technology cars. 125 miles per air charge, gas back-up to charge the air tanks for 600 miles per gallon. The future is looking up.

Answer 2

in canada it totals like 5.60 a gallon!

It rising still so mabey and now that demand will increase in the summer it will get worse faster.

Answer 3

no it's going to be very high $5 in the summer

Answer 4

No one knows for sure what will happen to prices, but you can be sure that we will only see rising prices for sometime to come.

Answer 5

i dunno for sure, but it'll prolly keep on goin up and up.

Answer 6

Yes when we can start using water for fuel. In Europe the gas was already higher than the states. We are only now catching up.

Answer 7

This will most likely occur because gas is an inelastic good and incompetent politicians ignore this problem. Our economy is dependent on gasoline, thus the oil companies can keep increasing the price and continue to make huge profits because there is no other alternatives. The only thing that would possibly lower gas prices if people really changed their behavior and break their dependence off of gasoline. One way to do this, is for people moving into the city the city where work and shopping is in walking distance rather than driving distance.  You need to go to work for money in order to pay for housing, food, and taxes. Our system is designed to keep us dependent on it, instead of being independent.

No, gas prices will no decrease unless a dramatic change of behavior occurs to make us independent of it because oil companies have a good thing going for themselves by exploiting a necessity and continuing increasing the prices for more profit.

Answer 8

i heard by 2009 it will be $6.43 a gallon

Answer 9

I don't think it will drop. Maybe it will when they invented or discover something new to replace gas. Cause as long as people use oil, the oil decreases, the higher the price it gets. And they increase gas prices too because they know that people need it and want it.

Well, if the country where we get our oil say to higher the prices, US can't do anything because it's not our oil, it's theirs. So yeah.

I hope I helped and answered your question. :)