How low will gas go?

[tubby_mcgee 701]

6-8 months ago...I asked a buddy if he thought gas would ever be below $2.00 again. He said no...I agreed.

 

Right now..I think the US average is right around $2, with the lowest being somewhere around 1.70.

 

 

How low do you think it will get? Will we see a majorty of stations at or around $1.50? Lower? Are we at the low?

[kilroy69 1,248]

6-8 months ago...I asked a buddy if he thought gas would ever be below $2.00 again. He said no...I agreed.

 

Right now..I think the US average is right around $2, with the lowest being somewhere around 1.70.

How low do you think it will get? Will we see a majorty of stations at or around $1.50? Lower? Are we at the low?

Oil shed another 2% today and is 100 off its high now. Its under 50 a barrel now. I would say that seeing gas at 1.00 in the next month or so is not THAT far out. Even with OPEC claiming to want to make a cut its still going to stay low because its not a glut in the market that is making the price go down its an overall drop in demand.

[remote controller 143]

I see $1.39 as a possiblity!

[NorthernVike 2,086]

Fock it, everything else seems to be going to zero, why not gas

[GettnHuge 2]

2 months from now when orders are sent down from high against drilling and for tougher regulations

[wiffleball 4,790]

What's interesting is I'm sure you're going to hear down the road Obama stopped all the drilling!!! Uh, no. The plummeting gas prices did that long before the guy takes office. I was in a bar the other day and two old rednecks were talking. One oil company had been offering money for his land (drilling rights) for months and he kept blowing them off - watching gas/oil prices go up and up and up.

 

Now they won't return his calls.

 

Houston was booming while others were falling, but I fear we're just behind the curve a bit.

[BudBro 182]

with all the talk of a global recession through 2009, it seems likely oil demand will be down overall for a while. pickens has put his project on hold, which i doubt makes his investors like pelosi real happy. i could see prices hovering around $1.25 for the better part of a year. i don't know how production works with the opec group, what the marginal number of barrels is needed to keep up with their own overhead and expenses. if they begin to shut down fields to curb supply, then the rest of the world uncovers their technologies, opec producers may lose a significant part of their market and usefulness.

 

many technologies have begun the march toward the market over the last 8 months. that march will continue so that the next famine can be endured. there will be someone who brings the product that uses water and make it work effectively for everyone of every economic status. the bad news for the u.s. is that all the little wells that were only productive at the high price will likely be shut back down, if they haven't already. there's probably some number around $75 or $80 a barrel that would keep them in play. if it needs to be at $100, then f&*k em and shut em down.

 

ethanol and flex fuel has run its course already. many of the ethanol producers are in bankruptcy because they overproduced by some 3 billion gallons with all the rhetoric over the last couple of years, started by gwb when he kissed the ethanol baby. gasoline producers didn't need all that ethanol and the price went in the toilet. bad management by the ethanol producers, most of which can be blamed on the democratic leadership that pushed it so hard. now corn and ethanol producers want saved by the same govt that helped run them out of business. e85 is $0.10 cheaper in my town and less productive as a fuel. those that paid 10 grand more for those vehicles are likely upset by the current state of things.

 

hydrogen won't make it to market for another 5 years. hydrogen filling stations will take time to come online, and people will have to pay out the nose to drive a hydrogen powered bmw or something like it. if they can pull it out of water, then the hydrogen car market will be dead before it begins. should be fun to watch.

[Super Cubs 154]

I talked to a man in the oil business. He said oil will be $200 a barrel in 18 months (May 2010). Personally I find it hard to believe. You never know. But since the governmet gets their cut by taxing by the gallon not the sales price I doubt they would let the price get out of hand.

[IAMWood 6]

with all the talk of a global recession through 2009, it seems likely oil demand will be down overall for a while.

 

 

Sure demand is down some. But almost 70%, like the price would indicate in a perfect world? Who knows the true answer, not sure I would believe most sources. So let's high ball it and say demand is down 10%, which is huge. That leaves 60% of the price to be accounted for.

 

60%, let's say the price is too low right now, say 10%.

 

So how do we account for the other 50%? I don't even want to start, but it is focked is all I know, and the world economy is focked at the expense of a lot of people, billions of them, and I am in the middle of the fockin flock.

 

[IAMWood 6]

I talked to a man in the oil business. He said oil will be $200 a barrel in 18 months (May 2010). Personally I find it hard to believe. You never know. But since the governmet gets their cut by taxing by the gallon not the sales price I doubt they would let the price get out of hand.

 

What's the price cutoff where it gets out of hand?

 

the government let it go way past that already recently in my eyes, I wouldn't count on them for squat sucka.

[Big_Pete 0]

This thread is worthless without RLLD's opinion.

[jets24 6]

It will soon cost a single penny per gallon.

[Filthy Fernadez 2,696]

So how do we account for the other 50%? I don't even want to start, but it is focked is all I know, and the world economy is focked at the expense of a lot of people, billions of them, and I am in the middle of the fockin flock.

 

 

 

QFT

 

The World Economy is in the toilet because of the financial collapse of the banks but also due to the overinflated price of oil/gasoline. Regular people were getting squeezed by their monthly cost of gasoline doubling. You can't budget for that in a standard household and that is money that we'll never get back no matter what. There was no reason for oil/gasoline to go up like it did and the people that profited from that are just as responsible for this mess as the people/banks involved in those

sh!tty mortgages.

[cgod 0]

I always remember people talking tongue in cheek about the big oil anecdote of pushing prices to $4+ so that by settling into the $2.50/gallon range it seemed like a bargain to the consumer. I think we've seen that the $4+ per gallon prices, much like the housing prices, proved artifically inflated and unsustainable. Honestly who knows but I wouldn't be surprised to see it settle in the $2 - $2.50/gallon range when the dust clears sometime between next summer and summer 2010.

[Isotopes 1]

I saw $1.65 on the way into work today.

[dain11279 976]

I just wish that I could see $2 around here.

 

That being said, I don't really see oil dropping much more then it already has. I mean, it's under $50 a barrel!! I never would've saw that coming a year ago.

[BudBro 182]

I just wish that I could see $2 around here.

 

That being said, I don't really see oil dropping much more then it already has. I mean, it's under $50 a barrel!! I never would've saw that coming a year ago.

$1.56 here today, and we have $0.40 a gallon tax in that. why do the huge difference in new york?

[GutterBoy 2,899]

$.41 per gallon by January 17th. Then it will climb to $6.52 per gallon by March 3rd due to a solar flare.

[heavy-set 39]

$2.43 in buffalo

[pimptastic69 0]

$1.58

 

[ZeroTolerance 584]

$1.61 in SE Michigan last week, back to 1.69 right now.

[Dr.Grimm 0]

$1.62 is what I paid yesterday in southern Indiana. It was amazing to only put 15 bucks in my truck and damn near fill it up. I was paying 65 bucks to fill up from empty a few months ago.