Gas Prices Could Hit $3 ByAutumn
Nationally, regular gasoline averages $3.47 a gallon, down 47 cents from this year’s high in April and well below the $5-a-gallon fears fanned earlier this year by energy speculators, Middle East tensions and oil refinery glitches that crimped supplies.
Those issues appear to be over, at least for now. Thursday, benchmark West Texas Intermediate crude oil fell 4% to $78.20 a barrel, the lowest price since early October and off 20% year-to-date. Coupled with slumping wholesale gasoline contracts for fall delivery, “the market is suggesting gas below $3 by Halloween, and certainly by Thanksgiving,” says Tom Kloza of the Oil Price Information Service.
With production up, oil inventories at 21-year highs and tepid consumer demand, gas prices have fallen for 11 weeks. They’re expected to drop more sharply after the peak summer driving season.
Read more here: http://www.usatoday.com/money/industries/energy/story/2012-06-20/oil-gas-prices/55746372/1
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Whistler Blowers, Insiders
even if it did its still half of what others have to pay, toughen up biatches
In the UK we pay $11 a gallon for petrol and slightly more €11.50 for diesel We would love American pricing over here seems we are being taxed to death
@ Roninsteel – We understand, that’s why we left England to form the USA!
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The reason Gas prices are dropping is because people are voting with their dollars and driving less, buying less gas and creating gas surpluses and lowers prices… Oh, and politicians are sucking up big time to win the elections in November.