Skip to comments.Gas prices expected to drop by nearly 50 cents for summer
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 ...
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
I’ll believe it when I see it.
Are these the same people that report “unexpected” results each week??
If the prices unexpectedly don’t drop, that will be Bush’s fault.
Believe what? $3.60 - $3.70 a gallon still sucks.
Title should read:......
“Obama plays rope-a-dope with U.S. drivers.....”
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.
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.....
Uh, maybe the price is dropping because 10-15% of Americans ARE NOT driving to a job!
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.
Here you go:
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.
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.
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!
” compare the gas price with actual money value since the 70s “
I’m wondering if a more accurate comparison might be ‘Gas Prices vs Actual Purchasing Power of Your Paycheck (measured in goods & services..)’
Yeah, it’ll drop in penny increments but it rises in nickle and dime increments.
Sad....I was happy about the $4.15 per gallon price, thought I was getting a bargain!
Gas prices usually drop after Memorial Day. Enjoy it while you can because the price will go back up this fall.
” “Now you’re only paying TWICE as much for gas now!” “
From the ‘Department of Redundancy Dept’.... ;)
Ill 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.
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.
I predict a $1 drop in gas prices oh, around October 2012.
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!"
Yea, but the price of hot air goes up with each election cycle.
Prices in CA, at least in my area, are 4.25 for reg unleaded.
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.
I predict a lot of articles about gas prices with the word “unexpected” in them this summer
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.
‘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.
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).
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.
This article just posted on Yahoo Finance.
Stocks turn higher as oil tops $100:
More good news for oil prices.
Venezuela threatens to interrupt US oil supply:
I seem to remember posting this same point for at least the last four or five years.
Call me when there is a 50% drop in the price of gas. 50 cents isn’t significant.
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.
Now that’s the drop I would like to see around here.
It is NORMAL for gas prices to drop after a spring peak. Obama’s got nothing to do with it.
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.
Remember, the tax that the government earns on it exceeds the oil companies margin and the government produces nothing but misery.
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.
Dunno, but here in my little area, went from $3.93 to $4.14 this A.M. .....