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Author	Topic: US reduces expectations for summer gasoline prices following recent drop in oil	Post a Reply Back to Topics

mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: May 14, 2012 9:34:14 AM Ignore mastermariner Report Abuse NEW YORK (AP) — Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil. The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an initial estimate of $3.95 and below 2008's record average of $3.80. Ads by Google Oil And Gas Jobs Work with Leaders at BP in the Oil & Gas Industry. Apply Now. www.BP.com/UpstreamAskChesapeake.com Barnett Shale Communities. Natural Gas Drilling News. www.AskChesapeake.comThe Energy Information Administration's revised forecast is encouraging news for the economy. Some economists blame high pump prices for so-so consumer spending this year. They were also seen as a factor in the loss of 35,000 retail jobs in February and March. G Visit AP for full article

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NEW YORK (AP) — Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.

The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an initial estimate of $3.95 and below 2008's record average of $3.80.

Ads by Google
Oil And Gas Jobs
Work with Leaders at BP in the Oil & Gas Industry. Apply Now.
www.BP.com/UpstreamAskChesapeake.com
Barnett Shale Communities. Natural Gas Drilling News.
www.AskChesapeake.comThe Energy Information Administration's revised forecast is encouraging news for the economy. Some economists blame high pump prices for so-so consumer spending this year. They were also seen as a factor in the loss of 35,000 retail jobs in February and March.

G
Visit AP for full article

REPLIES (newest first)Ignore Short Messages

RitaVespa Champion Author Oregon Posts:2,976 Points:791,285 Joined:Jan 2011	Message Posted: May 14, 2012 7:48:58 PM Ignore RitaVespa Report Abuse Not seeing it in Oregon, either
voyagerkim All-Star Author Los Angeles Posts:620 Points:172,135 Joined:Oct 2011	Message Posted: May 14, 2012 7:04:55 PM Ignore voyagerkim Report Abuse Except in CA. . .where price are going up. . .up. . .up!!!
Rehorsehay All-Star Author California Posts:871 Points:45,925 Joined:Feb 2012	Message Posted: May 14, 2012 12:39:28 PM Ignore Rehorsehay Report Abuse Do the authors of articles like this really know whats going on? I've read several articles the last couple of days like this. Yet the price of gas has spiked 10cents or more last week. What gives?
StArrow68 Champion Author Oakland Posts:3,252 Points:1,360,265 Joined:Apr 2003	Message Posted: May 14, 2012 12:08:44 PM Ignore StArrow68 Report Abuse Too bad reporting lags behind the real world, gas back up here $.14/gal in a week leading up to Memorial Day travel. Not likely they will miss getting as much as possible over the Holiday.
lesabreAZ Champion Author Phoenix Posts:1,686 Points:411,480 Joined:Nov 2011	Message Posted: May 14, 2012 12:05:14 PM Ignore lesabreAZ Report Abuse More staycations, and the price will go down
blueBMW480 Champion Author Nashville Posts:818,391 Points:839,765 Joined:Jan 2011	Message Posted: May 14, 2012 11:54:09 AM Ignore blueBMW480 Report Abuse Good
Van_Halen Champion Author Atlanta Posts:2,850 Points:641,230 Joined:Apr 2011	Message Posted: May 14, 2012 11:45:03 AM Ignore Van_Halen Report Abuse . What has changed about Summer? NOTHING! There will be increased demand due to vacations and school being out. Because of the stupid EPA, we HAVE to switch over to summer blend. The same refineries are closing that planned to and the ones that don't produce summer blend still will not be producing summer blend! Again, nothing has changed. In two weeks prices are going to go back up.
mike1881 Champion Author Fayetteville Posts:1,295 Points:564,425 Joined:Feb 2011	Message Posted: May 14, 2012 11:43:09 AM Ignore mike1881 Report Abuse Drop baby drop.
deputydog082 Champion Author Detroit Posts:1,781 Points:659,365 Joined:Apr 2011	Message Posted: May 14, 2012 11:33:03 AM Ignore deputydog082 Report Abuse keep dropping for tourism sake
RNCII Champion Author Michigan Posts:2,481 Points:642,235 Joined:Jun 2011	Message Posted: May 14, 2012 11:21:59 AM Ignore RNCII Report Abuse I'm not betting on the price staying down for long. If Obama's poll number go up so will the price oil. NoBama 2012 [Edited by: RNCII at 5/14/2012 11:30:29 AM EST]
des7902 Veteran Author Virginia Posts:385 Points:212,240 Joined:May 2011	Message Posted: May 14, 2012 11:16:31 AM Ignore des7902 Report Abuse The high gas prices affect everyone.
BurntOrange Champion Author Austin Posts:8,722 Points:1,582,040 Joined:Nov 2007	Message Posted: May 14, 2012 11:06:36 AM Ignore BurntOrange Report Abuse Anyone who tells you that they can predict gas prices is lying.
vnany Sophomore Author Fort Worth Posts:104 Points:570,940 Joined:Dec 2010	Message Posted: May 14, 2012 10:24:18 AM Ignore vnany Report Abuse doesn't matter what the price is at, we will still have to paid it :-(
OTISFL Champion Author Pensacola Posts:4,605 Points:864,840 Joined:Apr 2009	Message Posted: May 14, 2012 10:21:12 AM Ignore OTISFL Report Abuse Not holding my breath on this one!
MontanaMac Champion Author Washington Posts:1,736 Points:410,050 Joined:May 2011	Message Posted: May 14, 2012 10:09:39 AM Ignore MontanaMac Report Abuse Not happening on the West coast thanks to well-intended but miss the mark regulations for summer mixes.
Norm10 Champion Author British Columbia Posts:3,342 Points:162,925 Joined:Dec 2010	Message Posted: May 14, 2012 10:09:00 AM Ignore Norm10 Report Abuse Don't get your hopes up!
jorobins538 Champion Author Chicago Posts:4,732 Points:638,320 Joined:Sep 2009	Message Posted: May 14, 2012 10:06:08 AM Ignore jorobins538 Report Abuse ok
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: May 14, 2012 10:01:59 AM Ignore buckets42 Report Abuse None of this makes sense.
TripleHs Champion Author Austin Posts:3,355 Points:916,590 Joined:Oct 2009	Message Posted: May 14, 2012 10:00:03 AM Ignore TripleHs Report Abuse naturally, we all can see that
WebGabe Champion Author Pennsylvania Posts:2,364 Points:495,645 Joined:Jun 2007	Message Posted: May 14, 2012 9:55:32 AM Ignore WebGabe Report Abuse We'll see.
lesndave Champion Author Texas Posts:3,037 Points:700,405 Joined:May 2011	Message Posted: May 14, 2012 9:49:52 AM Ignore lesndave Report Abuse Hopefully it will drop even more.
mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: May 14, 2012 9:47:26 AM Ignore mastermariner Report Abuse Time will tell
Joeski1 Champion Author New Jersey Posts:9,992 Points:1,741,610 Joined:Dec 2004	Message Posted: May 14, 2012 9:43:28 AM Ignore Joeski1 Report Abuse I'm going to Red Lobster* with the money I save on gasoline. Hopefully they still have real seafood (unpolluted) still to sell [Edited by: Joeski1 at 5/14/2012 9:45:28 AM EST]
TerrySawchuk All-Star Author British Columbia Posts:850 Points:305,395 Joined:Jun 2011	Message Posted: May 14, 2012 9:42:28 AM Ignore TerrySawchuk Report Abuse Ok.
grandmacbc Champion Author Buffalo Posts:6,530 Points:1,428,825 Joined:Oct 2008	Message Posted: May 14, 2012 9:38:22 AM Ignore grandmacbc Report Abuse Can we bank on it????