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Gas prices expected to drop by nearly 50 cents for summer
msnbc.com ^ | May 7, 2011 | AP via Huffington post

Posted on 05/25/2011 8:30:52 AM PDT by frogjerk

NEW YORK — Some relief from suffocating gas prices will likely arrive just in time for summer vacation. Expect a drop of nearly 50 cents as early as June, analysts say.

After rocketing up 91 cents since January, including 44 straight days of increases, the national average this past week stopped just shy of $4 a gallon and has retreated to under $3.98. A steady decline is expected to follow.

It might not be enough to evoke cheers from people who recall gas stations charging less than $3 a gallon last year. But it would still ease the burden on drivers. And it might help lift consumer spending, which powers about 70 percent of the economy. A 50-cent drop in prices would save U.S. drivers about $189 million a day.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Business/Economy; Extended News; Politics/Elections
KEYWORDS: 2012; 2012election; drillheredrillnow; elections; fundedbysoros; gasprices; mediabias; nobama; nobama2012; nodrilling; obama; obamacampaign; oil; soros
How's that been working out since this was published on May th

A 50-cent drop in prices would save U.S. drivers about $189 million a day.

Obama is putting money back in our pocket, yeah -deranged lib

1 posted on 05/25/2011 8:30:56 AM PDT by frogjerk
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To: frogjerk

I’ll believe it when I see it.


2 posted on 05/25/2011 8:31:39 AM PDT by Peter from Rutland (!@)
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To: frogjerk

Are these the same people that report “unexpected” results each week??


3 posted on 05/25/2011 8:33:09 AM PDT by radioone
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To: frogjerk

If the prices unexpectedly don’t drop, that will be Bush’s fault.


4 posted on 05/25/2011 8:34:02 AM PDT by Cicero
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To: Peter from Rutland

Believe what? $3.60 - $3.70 a gallon still sucks.


5 posted on 05/25/2011 8:35:05 AM PDT by hflynn
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To: frogjerk

Title should read:......
“Obama plays rope-a-dope with U.S. drivers.....”


6 posted on 05/25/2011 8:35:05 AM PDT by AngelesCrestHighway
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To: frogjerk
If he makes it, and this communists will surely force it down, he will gain millions of votes. Everything this King Obama does is for votes.
7 posted on 05/25/2011 8:36:30 AM PDT by Logical me
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To: frogjerk

Well, in two weeks it has dropped .20 from 3.99 to 3.79 (got gas last night). However, I think that may have to do with the reformulated gas issue we had here in PA. Due to all the “boutique” gas formulas each state has to combat smog in the summer time, the refineries were playing catch-up and we had some shortages earlier in the month. But a .50 drop in prices would be welcome indeed, although I am not holding my breath.


8 posted on 05/25/2011 8:38:32 AM PDT by PAMadMax (Islam is a disease....)
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To: frogjerk

Well, since gas prices have gone up some $1.30 (at my local Circle-K) in the past 8 months, now I’m supposed to be a good sheeple and hail “THE GREAT O” with gratitude for a lousy half-a-buck???
Don’t think so.....


9 posted on 05/25/2011 8:38:40 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: frogjerk
A 50-cent drop in prices would save U.S. drivers about $189 million a day.

Uh, maybe the price is dropping because 10-15% of Americans ARE NOT driving to a job!

10 posted on 05/25/2011 8:40:05 AM PDT by TexasCajun
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To: Uncle Ike

it dropped about ~10 cents here in Virginia.... but...that’s not good enough. could the days of sub $2 gas be over?

is there a chart that compare the gas price with actual money value since the 70’s? i was just wondering because if the price were the same sub $2 from 70’s to 90’s, it actually got cheaper and cheaper, and this is just a sudden correction forced by the liberals.


11 posted on 05/25/2011 8:43:47 AM PDT by VAFreedom (maybe i should take a nap before work)
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To: Peter from Rutland

Here you go:

http://www.virginiabeachgasprices.com/

Already down to $3.28 on base and $3.35 just off base. These are always the first areas to see the drop in prices. The rest should come down fast next week after they gouge the tourists.


12 posted on 05/25/2011 8:46:43 AM PDT by wolfman23601
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To: Peter from Rutland

The gas speculators want Barack Hussein Obama re-elected.
They know his chances are slim if gas prices stay high. As such, they are willing to take a hit now to keep him in Office after next November.


13 posted on 05/25/2011 8:46:58 AM PDT by Mr. Wright
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To: frogjerk

Engineered for the reelection prospects of one, big eared, dope faced socialist president... wanna know what I really think? I’d be banned from here, that’s for sure!


14 posted on 05/25/2011 8:48:31 AM PDT by dps.inspect (the system is rigged...)
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To: VAFreedom

” compare the gas price with actual money value since the 70’s “

I’m wondering if a more accurate comparison might be ‘Gas Prices vs Actual Purchasing Power of Your Paycheck (measured in goods & services..)’


15 posted on 05/25/2011 8:50:55 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Uncle Ike; VAFreedom

http://www.westegg.com/inflation/


16 posted on 05/25/2011 8:54:39 AM PDT by Red Badger (Jesus said there is no marriage in Heaven. That's why they call it Heaven............)
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To: frogjerk

Yeah, it’ll drop in penny increments but it rises in nickle and dime increments.


17 posted on 05/25/2011 8:57:12 AM PDT by OB1kNOb (Paradox: To dumb down the citizenry so they won't think for themselves, the government educates them)
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To: OB1kNOb
I do not think so...summer blends are more expensive..
18 posted on 05/25/2011 9:08:30 AM PDT by Hojczyk
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To: frogjerk
My gas station (cheapest one in town) just went from $4.29 down to $4.15.

Sad....I was happy about the $4.15 per gallon price, thought I was getting a bargain!

19 posted on 05/25/2011 9:12:18 AM PDT by NoGrayZone ("Islamophobia: The irrational fear of being beheaded.")
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To: Peter from Rutland

Me too...


20 posted on 05/25/2011 9:15:23 AM PDT by WKUHilltopper (Fix bayonets!)
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To: frogjerk

Gas prices usually drop after Memorial Day. Enjoy it while you can because the price will go back up this fall.


21 posted on 05/25/2011 9:16:49 AM PDT by upsdriver (to undo the damage the "intellectual elites" have done. . . . . Sarah Palin for President!)
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To: frogjerk; All
Hussein can boast "Now you're only paying TWICE as much for gas now!"
22 posted on 05/25/2011 9:19:45 AM PDT by Recovering_Democrat
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To: Recovering_Democrat

” “Now you’re only paying TWICE as much for gas now!” “

From the ‘Department of Redundancy Dept’.... ;)


23 posted on 05/25/2011 9:21:38 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Peter from Rutland

I’ll believe it when I see it.


It will still suck with a $0.50 gal drop but any reduction will help. It is down in the $3.35 to $3.40 range in places in Texas now.

http://www.texasgasprices.com/GasPriceSearch.aspx


24 posted on 05/25/2011 9:24:31 AM PDT by deport
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To: frogjerk

50 cents, eh?

Pot + Frog + water + slowly add heat...

The oligarchs in charge are conditioning the unwashed masses to accept high energy costs. Send the ball to the top, then ease off a little, so the peasants will be more receptive to paying three times greater than what they would otherwise pay, had the government not locked up all our natural resources. The ruling elite will never release their chokehold on the American people—until forced to do so at the point of a loaded rifle.


25 posted on 05/25/2011 9:25:12 AM PDT by TCH (DON'T BE AN "O-HOLE"! ... DEMAND YOUR STATE ENACT ITS SOVEREIGNTY !When a majority of the American)
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To: frogjerk

I predict a $1 drop in gas prices oh, around October 2012.


26 posted on 05/25/2011 9:27:02 AM PDT by manic4organic (We won. Get over it.)
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To: Uncle Ike
Sorry, I meant....

Hussein will boast "Now you're only paying TWICE as much for gas as since I seized power! What a success-- earlier you were paying 2.5 times as much!"

27 posted on 05/25/2011 9:35:05 AM PDT by Recovering_Democrat
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To: frogjerk

Yea, but the price of hot air goes up with each election cycle.


28 posted on 05/25/2011 9:38:45 AM PDT by Rich21IE
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To: PAMadMax

Prices in CA, at least in my area, are 4.25 for reg unleaded.


29 posted on 05/25/2011 9:38:45 AM PDT by calex59
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To: Peter from Rutland
I’ll believe it when I see it.

Me too!!! Once Congress extends the debt limit, the Federal Reserve Board will begin a new round of quantitative easing. That should be enough to get commodity prices going up again.

30 posted on 05/25/2011 9:39:03 AM PDT by NRG1973
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To: Peter from Rutland

I predict a lot of articles about gas prices with the word “unexpected” in them this summer


31 posted on 05/25/2011 9:39:53 AM PDT by TexasFreeper2009 (Obama = Carter 2.0 The Epic Fail Edition)
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To: PAMadMax
Well, in two weeks it has dropped .20 from 3.99 to 3.79 (got gas last night). However, I think that may have to do with the reformulated gas issue we had here in PA. Due to all the “boutique” gas formulas each state has to combat smog in the summer time, the refineries were playing catch-up and we had some shortages earlier in the month. But a .50 drop in prices would be welcome indeed, although I am not holding my breath.

You are probably correct. After June 1st all summer formulations must be in place and the supply chain is done with winter gasoline (until September). The difficulties of managing two inventories (summer gasd & winter gas) during the spring adds to the price that we pay at the pump.

32 posted on 05/25/2011 9:43:21 AM PDT by NRG1973
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To: frogjerk

‘cept BP announced a problem at an Illinois refinery...so forget the Midwest seeing a drop...it will probably go up.

I’m expecting a fire at a Texas refinery any day now.


33 posted on 05/25/2011 9:44:21 AM PDT by stylin19a
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To: Hojczyk
I do not think so...summer blends are more expensive.

Yes, but only by 6-8 cents per gallon. That is more than offset in the spring by the cost of the supply chain having to carry two inventories (winter gas and summer gas). Additionally, southern states often have two grades of summer gasoline to manage (one in April & May and another from June to September).

34 posted on 05/25/2011 9:46:55 AM PDT by NRG1973
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To: PAMadMax

Here in suburban St Louis the price drop in the last ten days is $.50, from 3.99 to 3.49 this morning. Time to start filling the V-10 beast again.


35 posted on 05/25/2011 9:48:30 AM PDT by Second Amendment First ("Those who hammer their guns into plows will plow for those who do not..." - Thomas Jefferson.)
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To: TexasFreeper2009

This article just posted on Yahoo Finance.

Stocks turn higher as oil tops $100:
http://finance.yahoo.com/news/Stocks-turn-higher-as-oil-apf-2119523703.html?x=0&sec=topStories&pos=main&asset=&ccode=


36 posted on 05/25/2011 9:50:16 AM PDT by NRG1973
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To: NRG1973

More good news for oil prices.

Venezuela threatens to interrupt US oil supply:
http://www.csmonitor.com/World/terrorism-security/2011/0525/Venezuela-threatens-to-interrupt-US-oil-supply


37 posted on 05/25/2011 9:54:19 AM PDT by NRG1973
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To: frogjerk
Shouldn't come as a surprise to anyone. Gasoline prices have risen in April and May nearly every year in recent memory. I've speculated that much of the increase can be attributed to short-term supply disruptions and refinery adjustments as the EPA-mandated summer fuel blends are introduced.

I seem to remember posting this same point for at least the last four or five years.

38 posted on 05/25/2011 10:19:45 AM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: frogjerk

Call me when there is a 50% drop in the price of gas. 50 cents isn’t significant.


39 posted on 05/25/2011 10:36:14 AM PDT by SoldierDad (Proud dad of an Army Soldier currently deployed in the Valley of Death, Afghanistan)
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To: Alberta's Child

Question? Why, if the summer blend is better for the environment, is there any need for a different blend in the other months of the year? I have a noticable increase in fuel efficiency with the summer blend over the winter blend. Having no need for a difference in blends might also drop the price.


40 posted on 05/25/2011 10:38:52 AM PDT by SoldierDad (Proud dad of an Army Soldier currently deployed in the Valley of Death, Afghanistan)
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To: SoldierDad
Good question. That might vary by location across the U.S. My understanding is that the summer blend in the Northeast includes ethanol, which I think means fuel efficiency actually declines for most vehicles here in the summertime.
41 posted on 05/25/2011 10:44:52 AM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: Second Amendment First

Now that’s the drop I would like to see around here.


42 posted on 05/25/2011 10:53:23 AM PDT by PAMadMax (Islam is a disease....)
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To: All

It is NORMAL for gas prices to drop after a spring peak. Obama’s got nothing to do with it.


43 posted on 05/25/2011 11:10:16 AM PDT by newzjunkey
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To: frogjerk

I’m sorry, if the cost of something doubles, then drops 10%, it’s not a 10% drop, it’s still a 90% increase.

I’m still spending over $120 a FILL UP for my F150. Four times a month, and that’s REAL money I could (and would) be putting into the economy, eating at restaurants, buying goods, etc. Now? It goes to an oil company that for yet again set record profits.


44 posted on 05/25/2011 12:16:31 PM PDT by Ro_Thunder (I sure hope there is a New Morning in America soon. All this hope and change is leaving me depressed)
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To: Ro_Thunder
Now? It goes to an oil company that for yet again set record profits.

Remember, the tax that the government earns on it exceeds the oil companies margin and the government produces nothing but misery.

45 posted on 05/25/2011 12:27:56 PM PDT by frogjerk (I believe in unicorns, fairies and pro-life Democrats.)
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To: frogjerk

Yes, I acknowledge that the government gets roughly 35 cents per gallon (all profit), and the oil company gets less than 10 cents per gallon as profit; I also realize that for the 5th or 6th year in a row the oil companies have recorded “record heretofore unseen profits” while my living conditions have dropped.

I’m not opposed to the oil companies making profits; heck, that’s capitalism. I’m opposed to oil companies (or anyone, really) making OBSCENE profits at the expense of everyone. I acknowledge it will happen, because “the love of money is the root of all evil”. Just wish it wasn’t so.


46 posted on 05/25/2011 1:10:53 PM PDT by Ro_Thunder (I sure hope there is a New Morning in America soon. All this hope and change is leaving me depressed)
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To: frogjerk

Dunno, but here in my little area, went from $3.93 to $4.14 this A.M. .....


47 posted on 05/25/2011 1:20:28 PM PDT by gibsosa
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