Fri Apr 13, 2012, 04:32 PM

Gas prices could head lower for summer

Source: MSNBC

The recent run-up in oil and gasoline prices may have run its course - for now.

...snip...

Much of that run-up was fueled by fears of a cutoff in supplies from Iran, which is the target of U.S. and European sanctions aimed at curbing its nuclear weapons program. Those sanctions have been applied in stages since the start of the year.

But traders may have overreacted to the potential impact of those sanctions, according to Julian Jessop, chief global economist at Capital Economics.

"We expect any remaining Iran premium in prices to evaporate soon," he said. "Even if sanctions continue to tighten there is ample evidence that the countries most affected have already been able to find alternative supplies, while Iran is actually having to cut prices in order to sell its oil elsewhere."

Boy, Romney can't catch a break anywhere....

15 replies, 2092 views

Reply to this thread

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

15 replies	Author	Time	Post
Gas prices could head lower for summer (Original post)	brooklynite	Apr 2012	OP
But they will still probably be higher than last year.	Andy823	Apr 2012	#1
so ... despite all the "liberally-biased media" hyping the 2008 run-up as "out of the President's	zbdent	Apr 2012	#2
Maybe yes, maybe no	NickB79	Apr 2012	#3
Price jumped $0.15 overnight in my locale	Cirque du So-What	Apr 2012	#4
Mid-Michigan prices jumped .35 just this morning. eom	Purveyor	Apr 2012	#13
Largely due to switchover from winter blend to summer blend.	Psephos	Apr 2012	#15
"EVERY TIME I FILL UP, I CURSE OBAMA"	AlbertCat	Apr 2012	#5
If gas prices were going down, he'd still curse Obama...	GoddessOfGuinness	Apr 2012	#6
no but the official policy	pedex	Apr 2012	#7
Oh goody - you'll be able to use even more	dipsydoodle	Apr 2012	#8
Oh goody, I'll have a little more money at the end of the month.	Throd	Apr 2012	#9
Doesn't this contradict the age old price increase adage?	Earth_First	Apr 2012	#10
According to...	discntnt_irny_srcsm	Apr 2012	#11
Why would the oil cos. drop prices in an election year	Jackpine Radical	Apr 2012	#12
If so, this is one more issue taken away from Mittens.	Dawson Leery	Apr 2012	#14

Response to brooklynite (Original post)

Fri Apr 13, 2012, 04:41 PM

Andy823 (4,697 posts)

1. But they will still probably be higher than last year.

GREED is a terrible thing, and I am sure that the higher prices we have been paying more than made up for the money big oil lost because of a mild winter. The key word in this article is "could". There is no guarantee they will drop or how far they will drop, or when they will drop. Like in 2008 the oil companies, and the speculators, are going to try and increase their profits. They have already closed down refineries in order to justify raising prices, and all the hype about Iran seems to not be working since we have surplus's of oil.

I am sure they will be making more this year than last year, somehow!

Gas prices could head lower for summer

1. But they will still probably be higher than last year.

2. so ... despite all the "liberally-biased media" hyping the 2008 run-up as "out of the President's

3. Maybe yes, maybe no

4. Price jumped $0.15 overnight in my locale

13. Mid-Michigan prices jumped .35 just this morning. eom

15. Largely due to switchover from winter blend to summer blend.

5. "EVERY TIME I FILL UP, I CURSE OBAMA"

6. If gas prices were going down, he'd still curse Obama...

7. no but the official policy

8. Oh goody - you'll be able to use even more

9. Oh goody, I'll have a little more money at the end of the month.

10. Doesn't this contradict the age old price increase adage?

11. According to...

12. Why would the oil cos. drop prices in an election year

14. If so, this is one more issue taken away from Mittens.