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Response to Demeter (Original post)

Fri Jun 22, 2012, 09:23 PM

19. Gas prices could hit $2.50 a gallon by November, analyst predicts

 

AND DEMOCRATS WOULD STILL LOSE IN AN AVALANCHE

http://www.bizjournals.com/southflorida/blog/morning-edition/2012/06/gas-prices-could-hit-250-a-gallon-by.html?ana=twt

Gas prices have been dropping steadily in Florida since April, and according to at least one analyst, that may just be the tip of the iceberg.

Energy analyst Philip Verleger told Bloomberg TV that U.S. drivers could see $2.50-a-gallon gas prices by November, the Boston Business Journal reports.

The cause is two-fold, he said: The price of oil has fallen sharply recently due to overproduction in Saudi Arabia, and falling demand due to Europe’s economic slowdown is also a factor.

The average gas price in Fort Lauderdale dropped to $3.41 last week, the lowest in the tri-county area, according to the AAA Fuel Gauge Report. Miami's average fuel price fell to $3.43 and the average gas price in the West Palm Beach area dropped to $3.44.

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