pandoraPremium
join:2001-06-01
Outland
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| Estimates on how much gas will close for by year end? Any ideas about how high gas will close at by the end of summer and by the end of the year?
My guess is gas will run nearly $5 per gallon by the end of summer, and close to $5.50 by the end of the year.
Anyone else want to try their crystal ball?
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"People demand freedom of speech as a compensation for the freedom of thought which they seldom use." |
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 FutureMonKeep your Mitts off RMoneyPremium,ExMod 2002-05
join:2000-10-05
Seaside, CA | A friend of mine in Long beach posted a pic over the weekend - $4.69 for 87 octane and $4.99/gal for Diesel.
I just paid $4.09 at my local Arco (which usually has the best price in the area) for the 87 octane.
I think the government will step in before it goes much higher. My car gets 25 miles per gallon and has a 14 gallon tank. I can't afford to drop much more than $50 per tankful just to get to work and back for one week. Those who live farther from their job and/or have less fuel efficient vehicles can't either.
It may reach a peak of $5.50/gallon before the end of May, but I'd be willing to bet that lots of summer trips won't be happening this year - reducing demand and allowing the price to drop.
- FM
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This just in from the department of redundancy department... |
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| reply to pandora
My best guess looking at current event and possible future is that it be between $5.50-$6.00. |
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| reply to FutureMon
said by FutureMon:It may reach a peak of $5.50/gallon before the end of May, but I'd be willing to bet that lots of summer trips won't be happening this year - reducing demand and allowing the price to drop.
- FM
Demand is not an issue, it's speculation and instability in middle east. |
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FutureMonKeep your Mitts off RMoneyPremium,ExMod 2002-05
join:2000-10-05
Seaside, CA | Yes, but every year this happens right before summer - and usually opec will bend to pressure to increase output and lower the price. The price may not go lower, but I don't realistically see it going past $5.50/gallon. Reserves will be tapped before that happens...
- FM
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This just in from the department of redundancy department... |
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| said by FutureMon:Yes, but every year this happens right before summer - and usually opec will bend to pressure to increase output and lower the price. The price may not go lower, but I don't realistically see it going past $5.50/gallon. Reserves will be tapped before that happens...
- FM
The price goes up in summer for another reason which that we change blend of gas. Summer bland is more expensive as such gas prices go up regardless of supply and demand. |
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 OmegaDisplaced OhioanPremium
join:2002-07-30
Cheyenne, WY | reply to FutureMon
Wow, it's only $3.49 here. Though I guess "only" is a relative term.
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What smells like blue? |
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 SnakeoilIgnore Button. The coward's feature.Premium
join:2000-08-05
Mentor, OH
kudos:1
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| reply to silentlooker
True, for what ever reason, the summer blend is more expensive then the winter blend. Why? What do they do differently? You'd think the winter blend would cost more as less oil is available to be turned into gas. By that I mean oil is being diverted to make heating fuel. With the winter blend you'd think they'd add Dry gas or some other type of antifreeze to the fuel. To keep the gas line free of ice.
Don't need it in the summer time, so why is summer blend more costly? In theory, you have more oil available to make gas from, as you don't need heating fuel.
As for demand, if fewer people are traveling due to high fuel prices, then the price should drop, or at least not increase as much as it has so far this spring.
So I'm thinking that the prices may top out at 4 to 4.50 a gallon, then they'll decrease as people reduce amount of driving. By the same token I expect employers to stop hiring and unemployment numbers to jump a little. Higher cost of fuel effects business as well as home. So with fewer people traveling on vacations, and people getting the boot, the demand may drop some more.
Good news is the American auto industry [GM, Ford] seem to be in position for high gas prices. They both have a few hybrids/high MPG vehicles to pick from. I don't think Chrysler has yet put out a high MPG vehicle [30MPG or more]. So Chrysler may be the only one hurting this time around.
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| reply to pandora
Eight bucks a gallon by next summer. Why, declining dollar, increased speculation, unrest in the middle east, a major terrorist event, an Israelis attack on Iran's nuclear facility (strangely out of the news), a major oil spill, the collapse of any major economy (maybe Japan or US). Just too many things to go wrong and not a single factor to improve conditions. |
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 AlcoholPremium
join:2003-05-26
Climax, MI
kudos:3
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| reply to pandora
The trend for gas is to go up towards summer and fall towards winter.
I think we'll see $5/gal this summer, but it will go back to $4/gal by the end of the year.
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I found the key to success but somebody changed the lock. |
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| reply to pandora
If the US$ ceases to be the petro dollar, expect a LOT of pain. $6 this fall is conservative.
By 2016, $37.50/gallon. What will you do then? |
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| reply to pandora
They've been saying about a $4.50 peak here for the summer then drop back off like it always does. Currently it's about $3.70 here so it's plausible to hit $4.50 this summer. I don't think our economy can take another more then a $.60-.80 a gallon increase between current prices and peak prices this year.
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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." -Warren Buffett |
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