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GasBuddy News Article

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Oil and gas prices look like they’ve peaked

Market Watch -- NEW YORK — Remember just a few short weeks ago, when the media were speculating about how high gasoline prices could go? I know—I wrote a story like that myself.
In early March, gasoline prices hit $3.94 a gallon, and topped the magic $4.00 mark in California and other states. That was based on a jump in Brent crude oil prices to $128 a barrel.

Some of it was due to a growing U.S. economy and some logistical issues. But the main reason was fear of either an Israeli air strike to destroy Iran’s nuclear facilities or Iranian military action to break sanctions from the international community.


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Submitted May 04, 2012 By: fordfreak
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil and gas prices look like they’ve peaked Back to Topics
REPLIES (newest first) Post a Reply
knot2swift
Champion Author Calgary

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Message Posted: May 4, 2012 9:00:25 PM

Aren't election years wonderful?

Maybe we should have elections every 2 years. That way we guarantee good government 50% of the time.
bra0712
Champion Author Arizona

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Message Posted: May 4, 2012 9:00:08 PM

Oh the oil companies will find a reason to raise the prices
gasper
Champion Author Edmonton

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Message Posted: May 4, 2012 8:53:49 PM

Speculation of fuel prices are killing us money wise at the pumps no extra cash for other needed items.
trytogetby
Champion Author Cincinnati

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Message Posted: May 4, 2012 8:53:13 PM

This is B.S.!It's always going to something.We the common man,the honest people don't stand a chance.
The_DR
Champion Author New Jersey

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Message Posted: May 4, 2012 8:51:19 PM

good
jessek
Champion Author Detroit

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Message Posted: May 4, 2012 8:51:01 PM

Just went up about 10 cents per gallon yesterday.
Beaveronparade
Champion Author Hartford

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Message Posted: May 4, 2012 8:50:31 PM

Lets hope they won't go any higher. How much more can people take?
lesndave
Champion Author Texas

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Message Posted: May 4, 2012 8:50:03 PM

Predictions are a dime a dozen.
darkknight1
Champion Author Winston-Salem

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Message Posted: May 4, 2012 8:48:26 PM

Let's hope so
todayilearned
Veteran Author Tucson

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Message Posted: May 4, 2012 8:47:53 PM

Kinda scary to know next year they will be above $4... maybe $4.50?
jjfisher
All-Star Author Toledo

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Message Posted: May 4, 2012 8:47:21 PM

Yeah, the other day prices jumped $0.30/gl. Now they've gone down about $0.05. Bet the speculators knew oil prices were going to drop so they got gas prices to jump.
Aviator_Rob
Champion Author New York

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Message Posted: May 4, 2012 8:46:39 PM

Isn't it great that Big Oil is now exporting domestically produced gasoline to Mexico!?!

Just wait until the Keystone Pipeline is built. Then we can really watch our oil leave this country!

All in the name of bigger profits, my friend. What's good for Big Oil is good for America, right?
miiike572
All-Star Author Phoenix

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Message Posted: May 4, 2012 8:46:28 PM

...
kcboy
Champion Author Utah

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Message Posted: May 4, 2012 8:45:23 PM

It is going down for diesel.
camaro_man
Champion Author Kitchener-Waterloo

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Message Posted: May 4, 2012 8:45:10 PM

wow
majorben
Champion Author New York

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Message Posted: May 4, 2012 8:42:21 PM

only to get us used to it, so that next time it will go even higher
Aviator_Rob
Champion Author New York

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Message Posted: May 4, 2012 8:42:04 PM

altima2008 said, "Nobama and company will do whatever they can to push the prices back up."

Really?!? Why is that? Did somebody tell Obama that the key to getting votes in November is raising gas prices???

C'mon Altima, be real!
WinderGuy
Champion Author Georgia

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Message Posted: May 4, 2012 8:41:37 PM

Ok
jmdk721
Champion Author Missouri

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Message Posted: May 4, 2012 8:39:45 PM

For now....
ferinko
Sophomore Author Ontario

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Message Posted: May 4, 2012 8:37:13 PM

it is one big game. with ours many
carpenter4u
Champion Author Virginia

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Message Posted: May 4, 2012 8:32:52 PM

tired of the yoyo
umitb
Champion Author Indianapolis

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Message Posted: May 4, 2012 8:32:10 PM

ok
Dodge_Me
Champion Author Atlanta

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Message Posted: May 4, 2012 8:30:29 PM

Hmm
marinedad1949
Champion Author Lancaster

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Message Posted: May 4, 2012 8:28:55 PM

Wait and see.
Wanda127
Champion Author Florida

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Message Posted: May 4, 2012 8:28:09 PM

The prices are starting to fall here but need to keep falling.
carman11
Champion Author North Carolina

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Message Posted: May 4, 2012 8:27:31 PM

WHAT HAPPEN TO THE $5.OO A GALLON THAT WAS PREDICTED IN MARCH!!! WHAT TO BELIEVE. NOT THE NEWS MEDIA.
tippybuddy
Champion Author Ontario

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Message Posted: May 4, 2012 8:27:19 PM

I sure hope that is right
toadNY
Champion Author Albany

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Message Posted: May 4, 2012 8:27:11 PM

BULL! It was all speculation that the world will End an they want to be the Richest dead person!
firasatali
Champion Author Toronto

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Message Posted: May 4, 2012 8:24:22 PM

wait and see
abcdMA
Champion Author Worcester

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Message Posted: May 4, 2012 8:23:26 PM

until a hurricane happens
cashpayer
Sophomore Author Raleigh

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Message Posted: May 4, 2012 8:22:00 PM

good article. We'll just hafta wait and see how accurate it is. Soon it will be hurricane season again and big oil will have more excuses to raise prices.
danreino
Champion Author Twin Cities

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Message Posted: May 4, 2012 8:21:22 PM

But Uastralis just ran ou tof oil. Norway ran out ouf ripe tomatoes too. See ya...........
Zonk
Champion Author Michigan

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Message Posted: May 4, 2012 8:18:38 PM

Pump prices are on the way down.
luvmyburgi
Champion Author Ohio

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Message Posted: May 4, 2012 8:18:01 PM

Not sure about that one. Wait and see game.
gasmack
Champion Author Ventura

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Message Posted: May 4, 2012 8:16:34 PM

Let's hope prices stay down long enough for us to recover some of the money we've lost.
julesTN
Veteran Author Nashville

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Message Posted: May 4, 2012 8:13:11 PM

it's too soon to tell - the year's not even half over!
spotterjoe
Rookie Author Nevada

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Message Posted: May 4, 2012 8:12:58 PM

isn't this old news from a couple weeks ago?
NakedDriver
Champion Author Des Moines

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Message Posted: May 4, 2012 8:10:29 PM

ə but _peaked_ does _not_ mean they will _decrease_ much!
ours peaked at 3.779 mid (10% alcohol), 3.909 reg (no alcohol), and 4.079 prem, maybe four weeks ago. it was under $3 in december.
now, we are 34¢ below the maximum.
i hope it drops more. ə
LaVonneK
Champion Author Iowa

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Message Posted: May 4, 2012 8:09:32 PM

Time will tell.
mrbee
Champion Author Little Rock

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Message Posted: May 4, 2012 8:08:42 PM

About time
GoGoGoodyear
Champion Author Los Angeles

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Message Posted: May 4, 2012 8:08:10 PM


No they haven't. Gas prices are on the upswing the last few days in some areas.
babugp
Veteran Author Philadelphia

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Message Posted: May 4, 2012 8:06:08 PM

yeah
DTroytNC
Veteran Author Charlotte

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Message Posted: May 4, 2012 8:05:29 PM

Until global demand drops the price isn't going down much lower.
200porter
Champion Author Toronto

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Message Posted: May 4, 2012 8:04:21 PM

I don't believe they've peaked yet. They will come up with something to raise prices again.
serrog
Champion Author Nova Scotia

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Message Posted: May 4, 2012 8:04:21 PM

I doubt it.
Eugenian
Champion Author Oregon

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Message Posted: May 4, 2012 8:03:12 PM

Wall Street's "greed is good" set will do whatever they can to push prices up.
hubie24
Veteran Author Michigan

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Message Posted: May 4, 2012 8:01:18 PM

yeah right. nice try.
cyclonePC
Rookie Author Pennsylvania

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Message Posted: May 4, 2012 8:00:39 PM

hmm
hauler43
Champion Author Oakland

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Message Posted: May 4, 2012 7:57:00 PM

Not so gas prices going up
letmathe
Champion Author Chicago

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Message Posted: May 4, 2012 7:49:50 PM

ok
Ray_10589
Champion Author New York

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Message Posted: May 4, 2012 7:48:35 PM

I hope so ....
altima2008
Champion Author Philadelphia

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Message Posted: May 4, 2012 7:47:46 PM

Nobama and company will do whatever they can to push the prices back up.
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