Will We See 99 Cents A Gallon For Regular Gasoline By Easter?

[DemocratSinceBirth]

[Tripper11]

1. No way....it will go back up I think....

I have nothing to base that on other then, I feel like I am in the middle of a bait and switch, and this has nothing to do with Obama, it's the oil thieves work!

[INdemo]

8. The thieves are not speculating oil now

Before the election,regulations on oil commodities were not enforced.Or should I say during the current administration regulations were not enforced....These thieving millionaires could buy oil contracts long and short and make millions.With Obama being elected these speculators knew that these regulations would be enforced and they unloaded their contracts for fear of losing and walla..The reason for cheaper oil and gas....If Mccain would have been elected we would still have $3.00 gas.

[HereSince1628]

2. Only if Dubai abandons it's dreams of grandeur

They really need the money to build another island and to fill it with luxury homes.

[fasttense]

3. It will continue to fall until more jobs are brought back to the US.

With no job, you have nowhere to go. Consumption of expensive energy is a luxury poor people can not afford.

[sabbat hunter]

4. No way

By then, refineries will be shutting down for "maintenance" crimping gasoline supplies. Plus I hope Obama gets a 18 cent per gallon tax passed with the money earmarked for rebuilding our infrastructure (which will get people back to work and help the economy)

[greymattermom]

5. 1.39 in kc

It's already 1.39 in kc and dropping daily.

[flobee]

6. I think it will be lower

Gas prices in my area are already at $1.51/gal and oil prices are continuing to fall.
I dont think we've hit bottom on anything yet (gas,housing,stocks, ect)

[karynnj]

7. I hope not

The reason I hope not is that that would only happen if the demand falls way below it is now, which could happen only if there is instant world wide wides spread adoption of very fuel efficient devises or alternative fuels (and that can't happen that quickly) or there is a worldwide depression of 1933 magnitude.

Why? Although OPEC has some ability to manipulate prices, supply and demand is the main force in determining the price and changing the supply significantly (enough to make a change that big is not possible.

[rasputin1952]

9. The price of gas will spike up in January, then rise steadily...

to about $3.25 during the year. Most of the exporting countries cannot afford to pump oil at the current lower prices. They'll cut back.

China and India will soon recover and demand more...of course, w/the down shift in price, the gas guzzlers will return, (they are already), here...driving the price up.

[bigscott]

10. not sure what you base that on?

they could afford to pump oil when it was below $1 before - not like any of them were destitute then - they are just enormously insanely wealthy now - not just obscenely wealthy like before

[rasputin1952]

12. "Insanely wealthy" pretty well sums it up...

They want more $, it's really that simple. The Saudis will do us no favors, they also know the Qatar(sp) oil fields are pretty well on the way to depletion, could be 10-30 years and they'll be pumping air. What they get now, is what they'll have to live on in the future...w/o oil, Saudi Arabia is essentially a wasteland.

We've reached Peak Oil, everything from here on in depleting any reserves there are, no "new" oil is forthcoming. Basic laws of supply and demand, when China and India ramp up again, which should be soon, the price will rise considerably.

I have been calling for alternatives since the 70's, if alternatives would have been taken seriously back then, we'd be far ahead of the pack...but we are, in all reality a species that does not look at the big picture or the future to any degree. We seek comfort now, and are not willing to compromise our current comfort for comfort in the future. The reality is, we are greedy and self-centered, and we'll do what we can to maintain certain situations, regardless of the cost, either financially or responsibility wise.

[raebrek]

16. lots of things are different now

When gas was previously below $1 a gallon everything else cost less too. For instance gas went to $1 a gallon in 1979 - 1980 minimum wage then was 2.90 - 3.10 an hour. So in order for gas to go that low again there might need to be fewer people working at the gas stations.

Mind you, back in 1979 - 1980 there were also far fewer people working at gas stations and far fewer gas station/quickie marts so it may even out a bit.

Raebrek!!!

[SmileyRose]

14. I'm with you

They want $4 and I also believe will manipulate the supply to get it as close to that as they can.

[BeFree]

11. It could

If we keep using less. We (Americans) have cut our consumption to a large degree. If we continue to decrease our use there will continue to be a glut of oil on the market.

That and ever since Bushco quit waging war in Iraq and a semblance of peace has come about, Iraq has started pumping and delivering more oil. Used to be Iraqi oil kept the oil markets honest and it is now making a comeback.

[windbreeze]

19. BUT...what has really cut comsumption is lack of

trucking, shipping (by ship), the transporting of goods, iow...so then how happy are you going to be when you find your store shelves lacking what you need to live...??? are people ordering home heating oil..has the price of that also dropped? or are they still charging almost $5 a gallon for it?....I say, enjoy the low prices while you can...because we all should have learned by now, that just about the time we are enjoying it, things will change...out where I live...still almost $2.00 a gallon...wb

[TheCowsCameHome]

13. Won't matter if there's nothing to put it in.

[tritsofme]

15. In some parts of the country no doubt.

I probably won't get to see it here in Chicagoland, but I'm sure in other places gas be sub $1 sooner than Easter.

[BootinUp]

17. I suspect gas prices are near the bottom.

IOW demand will increase enough to put a floor under it. I do not believe it will be supply constricted, not in 2009. Its going to take a while for the producers to adjust to the new realities.

[marimour]

18. It will go even lower (79 cents)

I read a piece posted on Bloomberg that said oil prices will go as low as $25 a barrel by spring. That translates to 79 cents a gallon for regular. Oil prices when they were at 140-150/barrel were artificially high. Around $45/ barrel is the norm and has been except in the past few years.

[Bad Thoughts]

20. Price of Milk needs to go down instead

Since the cost of transporting it is lower.