Question of the Day: What Will the Price of Gas be in One Month?
With the United States' Presidential election now over, it will be interesting to see how our economic situation changes over the next few months.
We've currently been on a trend of gas getting markedly cheaper (anything seems more reasonable than $4.00 per gallon) and our nationwide average is now sitting around the $2.25/gallon mark, with diesel fuel commanding roughly $0.80/gallon more. American consumers are hoping that fuel prices continue to drop, but the approaching holiday season may cause a slight upward climb.
What predictions do you make for the future of gas prices? Leave a comment with your best guess for what our country's average fuel price will look like one month from now.
Comments
Anonymous
Anything less than $4/gal and people will waste it on supersized beasts that they remote start 20 minutes before they need, and then drive like complete idiots.
I'm hoping for more than $4.
Ducati Minor
Detroit isn't going to dive into the supersized territory that wrecked it. It can't. The coming CAFE mandate and public rage has driven them away. My guess is that the full-size debuts we've seen from 2008 to 2010 will be the platforms for the next decade. There's no fortune to be made in big SUVs and pickups anymore, and nomoney to invest in completely new works like before.
My guess for the gas...$3.10.
James Perspective
On it's way up to stay at just under 3.00/gal for several months
87ninefiveone
I'm going to go with about $2/gal. I've heard rumors of a light winter being expected and I don't see the economy turning around anytime in the next month.Â
Michigan Volkswagen Enthusiast (www.michiganvw.org/forum)
Mark in Maine
The election is now behind us - Look for the least little air bubble in supply - overcast day in Mexico, or even something stupid happening in Venezuela, to push up the price of gas by .50 or .60 cents, at least . . . Ducati makes a good point, the really big things we're used to seeing on the roads from SUVLand will become a thing of the past pretty quickly; oversized cars, as well. The automakers seem to be smartening up right fast, this time around . .
Scratch
Look for it to go back up to $2.50-$3.00 around Thanksgiving and stay there untill after New Years. Gas always goes up around the holiday travel season.
Funny how Bush gets blamed for the $4.00 gas, but gets no credit when it goes back down.
IntoxicatedPuma
I think the problem is nobody wants to take responsibility and it's easy to blame him for their own faults as well as anything else they can think of.
I'm guessing 3.30 national average because of holiday season and cold weather kicking in.
Anonymous
funny how it goes down when hes about to leave office. . .dont you think?
taplin
I'm expecting enough of the speculators to get their lines of credit back open to push the price back to 3.25-3.50 before Christmas with a steady upward trend thru the winter. The economy didn't have this drastic of an effect on the price of fuel, it started dropping as soon as the hedge funds and stock brokers had to start pulling out of the market.
pelewis
Ah yes, the evil speculators and hedge funds. They probably have Snidely Whiplash and Boris Badenov working on their side, too.
Funny how every major event requires a villain.
oollyoumn
It would be great if no one cared, and you could give the stuff away.
Mena
I suppose this question really depends on where you live. Gas has gone down .30/gal just in the last week out here in CA. I predict under $2 a gallon by month.
Anonymous
It will skyrocket again, it only went down because of the election
Mena
Nope. They went down because worldwide demand went down. OPEC just had a meeting to cut suppply because of the decreased demand. Usually, their anouncements are enough to raise prices but it's having no effect this time. And, even if they agree to cut suppply that doesn't mean all of the members will do it.
Anonymous
I believe world wide demand has the biggest effect on oil futures and I don't see demand going up any time soon. I hear unemployment numbers are going to be scary when it's reported this week. I believe gas prices will be similar to where they are now or a little lower.
Mena
They were reported already and are above previous recession levels.
VII
It's jump back up to at least 3.30 in a month...and by summertime in the coming year it'll be 6 something. The only reason it's so low now is because it was election time. Gotta make sure the sheep have one less reason to not cast their, 'all important' vote, right?Â
~TheDarkWind
TaskForce
Wow, love the pessimism.
The recession has just started, worldwide demand is down and will drop more in the next six months. Commodities always overshoot (remember $145 a barrel oil, we are close to $60 now). We will not see $3 for a year and are more likely to see less than $2 before we see $4.
Russ Bellinis
I think the answer depends entirely on the economy. If the jobless rate goes up and continues to climb with more layoffs, people will not drive as much and the demand will drop. If the Northeast has a mild winter, there won't be as much demand for heating oil. The market can adjust supply to match demand to a certain extent, but if the supply of crude is already on its way to the refineries, it is difficult to cut back. Expect the price to adjust according to demand. I'm not sure where the future automotive production is headed. Large families still need at least one large vehicle to haul the family around. Contractors still need large pick ups to haul their building materials to the job site. Boat owners will either need to get rid of their boats or buy large tow vehicles to pull them with. On the other hand, we probably won't see people lining up to buy gas hogs just so they can lay claim to having the biggest land yacht on the interstate.
Trinks
IT'S OVER 9000
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