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Tue May 29, 2012, 12:34 PM

The fix is in: "Summer gas prices - as good as they'll get"

http://money.cnn.com/2012/05/25/news/economy/gas-prices/index.htm?source=cnn_bin

NEW YORK (CNNMoney) -- As the summer driving season gets underway, most Americans are enjoying lower gas prices than they might have expected when the spring began.

And experts say that despite oil futures recently falling to below $90 a barrel for the first time since November recently, the steady slide in gas prices might not extend much further.

But for the most part, the 7% drop in gas prices since the start of April is probably most of the relief that drivers can hope for.

Not all drivers are seeing the break on prices that the national average would suggest. West Coast drivers are still paying close to the same price as two months ago. Tight inventories west of the Rocky Mountains have kept prices out there high -- $4.28 in California, $4.25 in Oregon, and $4.27 in Washington State.

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Arrow 15 replies Author Time Post
Reply The fix is in: "Summer gas prices - as good as they'll get" (Original post)
sinkingfeeling May 2012 OP
mike_c May 2012 #1
pscot May 2012 #2
Proud Liberal Dem May 2012 #3
AndyTiedye May 2012 #9
Proud Liberal Dem May 2012 #10
AndyTiedye May 2012 #14
Mc Mike May 2012 #15
Archae May 2012 #4
bklyncowgirl May 2012 #5
pansypoo53219 May 2012 #6
Selatius May 2012 #7
Roselma May 2012 #8
oneshooter May 2012 #11
Tennessee Gal May 2012 #12
quaker bill May 2012 #13

Response to sinkingfeeling (Original post)

Tue May 29, 2012, 12:59 PM

1. still $4.49 here....

eom

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:02 PM

2. $4.57 for premium

We live 25 miles from a refinery, which, like others along the West Coast, has been shut down for "maintainence".

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:06 PM

3. I gassed up today for $3.66 here in Indiana

It's not cracked $4.00 for 1-2 months here since the initial "buzz" started about record-smashing gas prices earlier in the year. USA Today had a front page story over the weekend that many analysts are less certain about the prospect of $5/gal gas than they were earlier due to weak demand.

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Response to Proud Liberal Dem (Reply #3)

Tue May 29, 2012, 03:52 PM

9. Most Stations Charging $4.39-$4.49 in the Bay Area

Even the cheap stations are over $4.30.

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Response to AndyTiedye (Reply #9)

Tue May 29, 2012, 06:49 PM

10. Wow

I'm sure that $4/gal gas will be back here at some point too. I'd love to see gas to be back down below $3 but I don't know if that will happen anytime soon. I feel as though we are being conditioned to accept higher and higher gas prices even as car manufacturers keep the MPG relatively low for years to come- or at least as long as people keep allowing Republicans and their corporate masters to prevent us from making any kind of reasonable progress.

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Response to Proud Liberal Dem (Reply #10)

Wed May 30, 2012, 01:49 AM

14. They'll Jack the Prices Up to Help the Repigs Win the Election

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Response to AndyTiedye (Reply #14)

Wed May 30, 2012, 07:16 AM

15. S.O.P. for the oil nazi repugs. +1000, AT. NT

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:16 PM

4. Yeah, same people who "predicted" $4 and $5 a gallon average by now.

It's still $3.71 across the street.

"...might not extend much further."

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:25 PM

5. Here in NJ it's down to the high $3.40s--and we don't have to pump our own:)

To be perfectly honest I don't think anyone understands this stuff except that we're at the mercy of the speculators, that's for sure.

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:38 PM

6. ahh, the days when the GOP bitched about gas over $2 under clinton.

i happened to have breakfast in crandon, WI, next to a closed gas station, the price was stuck on $1, 26.

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 01:45 PM

7. 3.15 here on the gulf coast of Mississippi. nt

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 03:04 PM

8. $3.44/gal down the block from my house in Millersville, MD.

$3.33/gal in my in-law's neighborhood in Glen Burnie, MD

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 07:40 PM

11. I filled up yesterday with Shell, at $3.29 a gallon.

Used the point on my Kroger card, and got it down to $3.19 per!

This is west of Houston, Texas

Oneshooter

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 07:43 PM

12. Huh? I heard on the news over the weekend .....

MSNBC .... that gas prices are predicted to fall through the summer.

It is $3.19 gallon for regular here.

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Response to sinkingfeeling (Original post)

Tue May 29, 2012, 08:52 PM

13. There are experts everyday who say commodities are headed up

They are called the bulls. There are experts everyday that say commodities are heading down, and they are called the bears.

The bears have been taking the bulls lunch money nearly everyday for 8 weeks now, and they did it again today. Oil and PMs are down, the dollar is up and the Euro is still looking shaky.

I would guess we have most of the summer with the bears having the upper hand on commodities. When silver closes below $25 I will begin thinking the bottom is near, if it gets to $20 I will be in the market for a quantity. Of course, I melt it down and make jewelry with it, so I can make good money at $20 an ounce.

As long as the Euro crisis continues, oil prices will fall because the dollar looks like a better bet. I expect gas to stay in the $3.00+ range but it surely could get a bit closer to $3.00 before the line bends the other way.

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