I predict gas will be $3(nyc) by summer, national avg $2.80

[Yawesh]

by summer, our Yaris will be worth 1.5x the price

[supmet]

Probably 3 bucks, but I doubt it will go too much higher given the economy and all the global warming hoopla. The oil companies know that going too high will make people invest in alternative fuels and hybrids more readily.

[AlphaFox]

crude just dropped 8% today down to $46.

[devinlamothe]

There's no way it will go that high with crude so low. They cannot justify the increase this summer unless the recession somehow lifts and crude starts to climb again.

[detroiter]

I've heard on the news that they (whoever "they" may be that is being referred to) suspect the price of fuel will hover around $2.30-2.35 at most until September. But then again, we all know talk is cheap.

[EasyDriver]

Why is it that gas prices rise instantly when crude goes up....but go down slowly when they drop? Probably has something to do with why the gas companies have had record profits in the last few years!!!!

[TheUnGroomed]

I don't think it will get to $3 this summer. But, I wouldn't be surprised if it got close. I vaguely remember my mom complaining about gas costing $1/gallon.

I'm not too worried. This summer the Yaris will be saved for trips farther than 15 miles. Closer trips get the bike.

[NJBob]

It's about $1.85 here in NJ and the news announced a probable rise to about $2.10 or so. Invest in Unleaded Futures? Oh, that's what got us in this mess in the first place.

[CB900F2]

What was it, a year and a bit ago when crude hit $140.00... There was no market reason why it hit that level (supply/demand).. It was push up by traders and a few very large investment firms..

There is a great 60min investigation on this.. If I find the link I'll post it.. It shows that during this period, there was an over supply of crude, and the futures market was just pushing the prices up up and away!.

Originally Posted by devinlamothe

There's no way it will go that high with crude so low. They cannot justify the increase this summer unless the recession somehow lifts and crude starts to climb again.

[NJBob]

Originally Posted by CB900F2

What was it, a year and a bit ago when crude hit $140.00... There was no market reason why it hit that level (supply/demand).. It was push up by traders and a few very large investment firms..

There is a great 60min investigation on this.. If I find the link I'll post it.. It shows that during this period, there was an over supply of crude, and the futures market was just pushing the prices up up and away!.

I may have seen that program. Funny...years back when I invested in Unleaded futures it was the first summer that the prices DIDN'T go up. That's my luck. LOL

[41magmag41]

It's rising here a little now in New Hampshire, hovering around 1.93 but I suspect it'll be up around 2.10 to 2.20 by June just for the summer traveling season. I think you'll see maybe 2.50 to 2.75 when the refineries kick over to home heating oil in october. Don't give up the ship yet on your yaris and go out and get that hummer have patience and she'll be worth her wait in gold again.

[Yawesh]

currently in nyc metro area i've seen prices as low as 2.05 to as high as 2.59

i generally buy gas around 2.05 - 2.25 here

[daf62757]

Originally Posted by CB900F2

What was it, a year and a bit ago when crude hit $140.00... There was no market reason why it hit that level (supply/demand).. It was push up by traders and a few very large investment firms..

There is a great 60min investigation on this.. If I find the link I'll post it.. It shows that during this period, there was an over supply of crude, and the futures market was just pushing the prices up up and away!.

I wouldn't place too much faith in any investigation that CBS does. Their news is all done with an agenda.

[GeneW]

If the Israelis bomb Iran, as they're threatening to do, gasoline could go as high as $10.00 a gallon if you can find it at those prices.

Gene

[talnlnky]

gas will be AT LEAST 3.5 is not 4+ by late august.

[NJBob]

Originally Posted by GeneW

If the Israelis bomb Iran, as they're threatening to do, gasoline could go as high as $10.00 a gallon if you can find it at those prices.

Gene

Gene, thanks positive bulletins...like we aren't depressed enuff already.

[GeneW]

Originally Posted by NJBob

Gene, thanks positive bulletins...like we aren't depressed enuff already.

Not trying to depress, Bob, but to inform.

The scenario I've heard discussed is that if the Iranians are bombed, especially in their fuel enrichment systems at Natanz and elsewhere, is that they will retaliate through various actions.

One of the favorite scenarios involve the Iranians scuttling a few ships in the narrowest part of the Straights of Hormuz. This would be occur concurrently with attacks on Saudi oil delivery systems and attacks on various Emirate terminals as well. I am not sure if the US has prepared for these attacks.

Even if the Iranians kept their antics to threatening oil shipments they would increase the risk of oil deliveries. This would lead to increases in shipping insurance and a spike in crude oil futures.

Right now I suspect that the Israelis are holding back on attacking Iran because of US pressure.

Gene

[GeneW]

Originally Posted by Yawesh

by summer, our Yaris will be worth 1.5x the price

There has also been some discussion of raising gasoline taxes in order to "build infrastructure".

Gene