Posted on 09/20/2006 1:34:36 PM PDT by kellynla
WASHINGTON (Reuters) - The price U.S. drivers pay for gasoline is expected to drop another 25 cents in the short term to a national average of $2.25 a gallon, the federal Energy Information Administration said on Wednesday.
"Reductions already seen in spot and futures markets could imply a further decrease in the U.S. average retail price of as much as 25 cents (to around $2.25 per gallon), if those wholesale markets don't turn upward in the interim," the EIA said in its weekly review of the oil market.
The national price for regular unleaded gasoline has already declined 54 cents over the last six weeks since reaching a summer peak of $3.04 a gallon.
Helping to push pump prices lower is the price for crude oil, which accounts for about half the cost of making gasoline. Oil sank to $60.60 a barrel on Wednesday at the New York Mercantile Exchange, the lowest since March 21.
While motor fuel at some service stations around the country is selling for less than $2 a gallon, the EIA said it does not see the national average for gasoline falling below $2 "unless crude oil prices continue to decline sharply."
(Excerpt) Read more at today.reuters.com ...
The MA governors' race is on and the Dem (Deval Patrick) is already demanding higher taxes. Let the games begin!
I can't wait to see what what the gas prices will do AFTER the election season.
Here is the original EIA report, with analysis and various graphs. http://tonto.eia.doe.gov/oog/info/twip/twip.asp
"Brilliant."
</GUINNESS TV COMMERCIAL VOICE>
We saw/heard your gov on O'Reilly last night.
He wants fences on the borders...sounds like he wants to be POTUS. :-]
Paid $2.77 yesterday here in the Denver area. Not falling very fast out here for some reason.
"Paid $2.77 yesterday here in the Denver area."
Because you haven't been frugal. LOL
$2.48-$2.58 Denver
You need this link.
http://www.denvergasprices.com/
Nymex has light sweet crude finishing at $60.00 today, down $0.46 for the day after dipping into the mid $59s. I'm not a trader, but I heard around here that the next support level is probably around $58, so we can see a little more give before the next barrier. Who knows how far it will drop because most analysts were expecting some stabilization around $63 and that lasted for a little more than a day.
btw, have you seen, Wally? :-]
DARN!
2.35 NE of Baltimore maryland
Went down another 2 cents today in Prattville AL to $2.15.
I expect it below 2 bucks in two weeks.
Have seen low of $2.18 for ethanol, about $2.27 for unleaded regular Omaha, NE in past few days.
$2.29, Winchester Virginia, 20SEPT2006
$1.85 in Millville, NJ today.
"$1.85 in Millville, NJ today"
$1.85?
No Shiite? Excellent!
Hey, lowering gas prices is always good news.
$2.43 in Tampa
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