How long will gas prices go down?
darkw1ng00 asked:
I don’t know about other areas, but gas prices in my area have been steadily dropping for some time now, for much longer than they have ever dropped in the past… They used to be above $4 per gallon, and are now around $3.20 per gallon and still dropping. How long is this going to keep up?
I am definitely not complaining, I’m enjoying it while it lasts.
I don’t know about other areas, but gas prices in my area have been steadily dropping for some time now, for much longer than they have ever dropped in the past… They used to be above $4 per gallon, and are now around $3.20 per gallon and still dropping. How long is this going to keep up?
I am definitely not complaining, I’m enjoying it while it lasts.
well its the same here. i paid 3.49 today. last time i heard gas was 94 buck a barrel which is the price it was back a few yrs ago when gas was 2 bucks a gallon. in my opinion gas should be at least a dollar less than what it is right now. it hasnt been under 100 a barrel for a long time. the gas companies are just in control and they can charge us whatever they want no matter if its fair or not…
As long as the oil keeps dropping( that’s one factor) but there’s another.
People think it’s only the price of oil that controls the price of gas.
Refineries shutting down( for instance the hurricane in Houston) also affects the price.
Oil was down to $88 a barrel today, last month it was $148 a barrel.
Big difference.
How long will it last?
No one can tell.
The market is very volatile right now.
It could go down more or it can go up as quickly as it did before.
Let me also add that speculation also affects the price.
It’s a commodity and if people buy that commodity on the market, it raises the price.
Because the stock market is in turmoil people are selling off oil for a safer haven( like gold) which is making oil plunge.
It will last for as long as the economic disruption lasts, which may be 2010. Oil has dropped to 90 from 140 a barrel, and I think it will make its way to 80. Percentage-wise, that would be a gas drop from 4 to 2.50.
As long as demand is down. I heard that demand for gas is the lowest it has been in a few years. The companies want to keep get demand up so they can raise the price again. The only way to do this is to lower the prices so more people start buying more gas.
Well I don’t know how long it will last, but oil went down last night to $88 a barrel. So we will continue to see it drop for a while. Gas here in Texas is down to 2.95 and should be going down again soon considering oil just dropped again. Just in time for the holidays!!! I don’t imagine it will start going back up again for a while.
our prices in oklahoma have been dropping a lot too!…yesterday it went down ten cents and then another ten cents a few hours later…so for us it’s gone down about a dollar in a week its 2.59…i am lovin it too! o sorry this doesn’t answer ur question..