Any bets on where the gas will stop dropping?

[Stephen_G]

I say it will stop at about 2.50 a gal, if it goes lower than that though, 1.99-2.10 a gal will be the possible point.

I am basing this upon an exxon near me that is cheap at 3.17 a gal, and it keeps dropping every day.

NJ has the 3rd lowest fuel tax rate in the nation for gasoline, but requries E10 now.

 

[dave1251]

Do not worry. Oil companies have to make a profit. It will stop dropping soon.

 

[Chris142]

Still $4.09 for Regular E10 here.Down from $4.49

 

[friendly_jacek]

I noticed 3.15 today. It will not last long. Dollar overbought, commodities oversold.

 

[Bill in Utah]

Still $3.75 for reg and $4.09 for Diesel.

Doubt that I'll ever see $2.xx per gallon ever again. Be lucky to see low $3 which is too expensive IMB.

 

[Quattro Pete]

It hasn't been dropping near me at all. Still nearly $4/gallon for regular around here.

 

[fdcg27]

I paid $3.51 to fill two cars last week and $3.46 to fill another last Friday.
How low can it go?
Based upon current supply volume of crude as well as weakening world demand, with the deepening European recession and no strong recovery here, I'd say that $2.80 per gallon of unleaded regular is probable by the end of 2012.
Remember, too, that Chinese growth is weakening, since Chinese growth depends upon the economic health of its export host nations.
Manufacturing is actually returning to the US, as well.

 

[Zacharyx]

I see $3.12 for shell/exxon/bp and $3.09 for the local stations

 

[hypervish]

Gas is quite cheap where I am, especially considering I fill up at Costco. $3.19 for regular, and $3.42 for premium (93).

 

[Trav]

Its going to drop as long as deemed necessary to insure the desired result. You may need to grab the ankles come Dec.
Not political, interpret this however you want.

 

[DemoFly]

Still $4.40 for 87 10% ethanol here.

 

[Racerjk]

A crisis will be manufactured soon.

 

[mshu7]

It's been wacky in my area. The last few weeks it's been up/down a lot. As low as $3.39 and as high as $3.89. Just last night it went from about $3.50 to $3.85.

 

[fxrider]

Paid $2.99 a gallon for E-85 in Colorado the other day.

 

[PhillyJoe]

Supply is very high, demand is lower. Logic says it has a way to go down, but logic wasn't consulted on the recent run-up.

 

[ChiefPilot]

No doubt, this is a political event. Don't think we will have to wait much longer for the price to shoot up again (prior to elections)as oil companies have no use for this administration and high prices equal no re-election. As far as how low will it go, best guess is at or above $3.00/gallon. Totally agree with Trav, bend over come December (post election) $3.75 plus.

 

[DutchBrad]

West Michigan moved from $3.59 to $3.89 today for 87 octane. I hate Speedway, they move the price up by $0.30 or so..... www.thegasgame.com - click on the "Speedway Effect". I call the place GREEDway.....

 

[dubie2003]

Originally Posted By: fxrider
Paid $2.99 a gallon for E-85 in Colorado the other day.


That isn't even considered gas, lol.

 

[sciphi]

Still $3.75 for RUG E10 here, 20 cents more for the premium the Cruze likes. That's down from $4.099 for RUG just a few months ago.

I bet we'll see gas prices fall another 50 cents due to supply/demand re-asserting itself. Can't build more supertankers to hold crude, that would mean spending money.

 

[Loobed]

87 Chevron is about $4.19 a gallon or higher. Cheapo gas stations are abut $4.05.

San Francisco Bay Area