are gas prices going to come back down?

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Hard to say. The summer season typically sees higher prices, but with OPEC pretty much exporting at full tilt and US refineries doing the same, plus countries like china and india sucking up more than before (I think China's imports went up something like 30% last year?), it's possible that prices will stay at this for good, give or take (until they go up again, as things always do).
 

Rudee

Lifer
Apr 23, 2000
11,218
2
76
From what I heard on MSNBC today, expect the price of fuel to get higher before it gets any lower
 

conjur

No Lifer
Jun 7, 2001
58,686
3
0
maybe after summer....or if we magically pull some new refineries out of our collective asses. ;)
 

iamwiz82

Lifer
Jan 10, 2001
30,772
13
81
Fuel prices fell about 15 cents in Michigan this past week. The gas station I pass everyday is down to $1.98, down from $2.13 on Monday. I have no idea why it fell so quickly.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Originally posted by: iamwiz82
Fuel prices fell about 15 cents in Michigan this past week. The gas station I pass everyday is down to $1.98, down from $2.13 on Monday. I have no idea why it fell so quickly.
Me neither. They went up in birmingham a good bit :) I can still buy premium for $1.99, but most places it's $2.1x
 

coolred

Diamond Member
Nov 12, 2001
4,911
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I would think they would have to. Definately not to what they were. Every time gas prices rise this high, when they finally come back down, they are still overpriced compared to vefore they started to rise. I remember back when you could get a gallon of regular for .99 cents. And I am only 23, so I haven't been driving that long. Heck now its more then double that.

I just don't get OPEC, I mean sure they are probably making more money limiting supply, sicnethey can charge outrageous prices(yeah I know this isn't all OPEC's fault)but they are just pushing people to really start paying attention to hybrids and alternative fuels.
 

PCMarine

Diamond Member
Oct 13, 2002
3,277
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0
When fall rolls around, and the US's political troubles settle down a bit, gas prices will probably decrease from their summer highs.
 

MovingTarget

Diamond Member
Jun 22, 2003
9,002
115
106
I don't think so. I hate to say it though. With our ever increasing demand without a substantial boost in refining/drilling capability, then we are pretty much stuck. Most of it is probably politics, but I couild really care less if it is or not as long as I am paying out the arse to fill up my tank. Gasoline should never be above $1.50/gal. Anywhere. Period.
 

Dedpuhl

Lifer
Nov 20, 1999
10,370
0
76
Baton Rouge and the surrounding areas are about to get reformulated gas (stupid EPA). We get to pay 20 cents more per gallon than the rest of the state. :|
 

conjur

No Lifer
Jun 7, 2001
58,686
3
0
Originally posted by: coolred
I would think they would have to. Definately not to what they were. Every time gas prices rise this high, when they finally come back down, they are still overpriced compared to vefore they started to rise. I remember back when you could get a gallon of regular for .99 cents. And I am only 23, so I haven't been driving that long. Heck now its more then double that.

I just don't get OPEC, I mean sure they are probably making more money limiting supply, sicnethey can charge outrageous prices(yeah I know this isn't all OPEC's fault)but they are just pushing people to really start paying attention to hybrids and alternative fuels.

The supply of crude is NOT the problem.

The shortage of refinery capacity is the problem. Couple that with "boutique" fuels in certain parts of the country (such as New England) and you end up with higher costs.

Add in the overabundance of trucks and SUVs that get horrendous gas mileage and you have a greater quantity demanded of a finite supply of gasoline. The result is higher gas prices.

Also, we're looking at probably a good $9-10 increase in the price of crude due to the security threat on oil in the Middle East.
 

zCypher

Diamond Member
Aug 18, 2002
6,115
171
116
I doubt it. When have they ever decreased? I remember gas being 40-50 cents per liter. Now its between 95 cents and 1 dollar per litre. It consistently increased over the years as it always does, and always will. The supply will steadily decrease, and as it does... prices will continue to rise. What do you expect?
 

Atrail

Diamond Member
Apr 20, 2001
4,326
0
0
I noticed big 2.9% interest rate signs on top of the H2s at the Hummer dealership. Made me laugh...
 

Swag1138

Diamond Member
Feb 7, 2000
3,444
0
0
When I started driving, gas was .99 a galon for premium.

Now its 2.14

I doubt its gonna go down to where it was, its just been getting higher and higher since I started driving.
 

conjur

No Lifer
Jun 7, 2001
58,686
3
0
Originally posted by: Swag1138
When I started driving, gas was .99 a galon for premium.

Now its 2.14

I doubt its gonna go down to where it was, its just been getting higher and higher since I started driving.

How much has your salary gone up? What about rent?

Gas prices aren't a big portion of our budgets (unless you commute 100 miles each way ;) )
 

Ausm

Lifer
Oct 9, 1999
25,213
14
81
Originally posted by: iamwiz82
Fuel prices fell about 15 cents in Michigan this past week. The gas station I pass everyday is down to $1.98, down from $2.13 on Monday. I have no idea why it fell so quickly.

Must be nice!


Sysadmin
 

Yzzim

Lifer
Feb 13, 2000
11,990
1
76
Originally posted by: Sysadmin
Originally posted by: iamwiz82
Fuel prices fell about 15 cents in Michigan this past week. The gas station I pass everyday is down to $1.98, down from $2.13 on Monday. I have no idea why it fell so quickly.

Must be nice!


Sysadmin

Prices fell 15 cents here too, in southwest Minnesota. Local gas station dropped their price from $2.09 to $1.94.

I'd think they were just trying to compete against other gas stations, but 15 cents is quite the drop.