shueman

Libra
HDF Gold Supporter

Born To Drive...
     
Alta Loma CA
Posts: 17,228
APPD 2.10
Post Rank: 4
NADA
|
 |
Posted: Sep. 16 2006,5:16 am |
Post # 1 |
 |
WASHINGTON - Ready for some good news on gas prices for a change? How does $1.15 a gallon sound? It’s within the range of possibilities.
There has been a major drop in the crude oil price and barring a catastrophic earthquake or a very big new problem in the Middle East, the barrel price will go down much further. Crude-oil prices have fallen about $14, or roughly 17%, so far and is expected to drop far more in the coming months.
Also, the peak summer driving season in the U.S. has ended and oil inventories are high, so, oil companies then risk getting stuck with excess oil supplies.
AAA says the national average for a gallon of unleaded gasoline is currently down to $2.59. If the trend continues as expected. oil prices could go way down to $15 a barrel - perhaps even less. Hence, the price of $1.15 a gallon could be a reality and be great for the American economy.
Hmmm, timed with the upcoming elections, no doubt...  It's still above $2.90 in my area....
|