Gas prices this summer?

[SecondMonkey]

I hate to start another gas thread, but...

Does anybody honestly belive or predict gas prices will still be in the sub $2 range this summer? My guess is no, but that's just a guess.

Here's the thing. I don't drive a lot, so I gas prices really don't make a HUGE amount of difference for me. But during the summer I love to use my boat, which gets 2mpg if I'm lucky. She's a beauty queen with a bad drinking problem. At WOT the engine burns 18GPH, which cost more than I make. Did I mention I have a a lead foot?

In a related story, I have five food grade (used) steel 55 gallon drums that I'm not using. Speaking from a prospectors point of view, should I fill the drums with $1.67 gas now and save it until July when it's $3.57 at the pump? That's a savings of about $500 with my guestimated prices.

Please, let's not turn this thread into a discussion about fuel storage or stabilizer or if it will last that long or whatever. I'm talking from a purely cash point of view. Also we don't have "winter" gas, we get 10% gasohol year round.

Good idea? Bad idea? Why?

Does anyone understand what I'm rambling about?

 

[Oldmoparguy1]

It's called hedging. Might be worth it. Use lots of E stabilizer in that E gas. I would be supprized if gas stayed below $2, but who knows.

 

[Boomer]

You do get winter gas. It will have more volatile components such as butane in it to help starting and cold running.

 

[moribundman]

Originally Posted By: SecondMonkey
I hate to start another gas thread, but...

Does anybody honestly belive or predict gas prices will still be in the sub $2 range this summer?


You should be worried about next year and increasingly be worried about the years after that. Your primary worry shouldn't be gas, but food and water.

 

[SamSpade]

You can do the same hedging by using the cash to buy oil futures or oil company stocks, without the hassle of having to store real gasoline.

 

[Kestas]

Originally Posted By: SamSpade
You can do the same hedging by using the cash to buy oil futures or oil company stocks, without the hassle of having to store real gasoline.

That's exactly what I've done, and it's worked out well so far.

 

[SuperDave456]

Im not worried about $4 gas. I am worried about $5 or $6 gas.

Suppliers cutting back to raise prices and exploration is in a downward spiral. It isnt worth it to them at these prices.

New wars caused by economic and environmental stresses, water is running short all over. And how long do you think it will be until the American People quit worrying about their personal bailout, and start worrying about how we are going to pay for all this stuff we have already bought.

I would say YES, stockpiling some for this summer might be a good idea. It might be your last summer you can afford it.

Just be careful with 150 gallons of that stuff. It IS flammible.

 

[MysticGold04]

Originally Posted By: SamSpade
You can do the same hedging by using the cash to buy oil futures or oil company stocks, without the hassle of having to store real gasoline.


I'm a newbie to trading, but how does one go about this?

 

[The_Jeff]

I would absolutely do it if you have means. Look up "force majeure" (sp?), it gives oil companies and everyone else a way to weasel out of contracts.