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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

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pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: May 4, 2012 9:02:56 PM Ignore pastorpaulcg Report Abuse Amazing how election nears, gas drops
knot2swift Champion Author Calgary Posts:4,379 Points:696,025 Joined:Nov 2009	Message Posted: May 4, 2012 9:00:25 PM Ignore knot2swift Report Abuse 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 Posts:3,660 Points:767,595 Joined:Nov 2008	Message Posted: May 4, 2012 9:00:08 PM Ignore bra0712 Report Abuse Oh the oil companies will find a reason to raise the prices
gasper Champion Author Edmonton Posts:4,485 Points:1,368,310 Joined:Mar 2002	Message Posted: May 4, 2012 8:53:49 PM Ignore gasper Report Abuse Speculation of fuel prices are killing us money wise at the pumps no extra cash for other needed items.
trytogetby All-Star Author Cincinnati Posts:864 Points:214,000 Joined:Apr 2012	Message Posted: May 4, 2012 8:53:13 PM Ignore trytogetby Report Abuse 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 Posts:2,780 Points:584,090 Joined:Aug 2011	Message Posted: May 4, 2012 8:51:19 PM Ignore The_DR Report Abuse good
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: May 4, 2012 8:51:01 PM Ignore jessek Report Abuse Just went up about 10 cents per gallon yesterday.
Beaveronparade Champion Author Hartford Posts:2,105 Points:634,300 Joined:Mar 2011	Message Posted: May 4, 2012 8:50:31 PM Ignore Beaveronparade Report Abuse Lets hope they won't go any higher. How much more can people take?
lesndave Champion Author Texas Posts:3,032 Points:700,180 Joined:May 2011	Message Posted: May 4, 2012 8:50:03 PM Ignore lesndave Report Abuse Predictions are a dime a dozen.
darkknight1 Champion Author Winston-Salem Posts:4,330 Points:894,860 Joined:Nov 2010	Message Posted: May 4, 2012 8:48:26 PM Ignore darkknight1 Report Abuse Let's hope so
todayilearned Veteran Author Tucson Posts:289 Points:61,390 Joined:Apr 2012	Message Posted: May 4, 2012 8:47:53 PM Ignore todayilearned Report Abuse Kinda scary to know next year they will be above $4... maybe $4.50?
jjfisher All-Star Author Toledo Posts:546 Points:747,690 Joined:Aug 2008	Message Posted: May 4, 2012 8:47:21 PM Ignore jjfisher Report Abuse 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 Posts:3,795 Points:412,565 Joined:Mar 2012	Message Posted: May 4, 2012 8:46:39 PM Ignore Aviator_Rob Report Abuse 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 Posts:798 Points:524,465 Joined:Apr 2009	Message Posted: May 4, 2012 8:46:28 PM Ignore miiike572 Report Abuse ...
kcboy Champion Author Utah Posts:3,963 Points:1,506,825 Joined:Jun 2005	Message Posted: May 4, 2012 8:45:23 PM Ignore kcboy Report Abuse It is going down for diesel.
camaro_man Champion Author Kitchener-Waterloo Posts:2,226 Points:609,750 Joined:Jun 2010	Message Posted: May 4, 2012 8:45:10 PM Ignore camaro_man Report Abuse wow
majorben Champion Author New York Posts:7,667 Points:1,561,870 Joined:Nov 2008	Message Posted: May 4, 2012 8:42:21 PM Ignore majorben Report Abuse only to get us used to it, so that next time it will go even higher
Aviator_Rob Champion Author New York Posts:3,795 Points:412,565 Joined:Mar 2012	Message Posted: May 4, 2012 8:42:04 PM Ignore Aviator_Rob Report Abuse 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 Posts:2,864 Points:931,630 Joined:Mar 2008	Message Posted: May 4, 2012 8:41:37 PM Ignore WinderGuy Report Abuse Ok
jmdk721 Champion Author Missouri Posts:1,184 Points:573,830 Joined:Jul 2011	Message Posted: May 4, 2012 8:39:45 PM Ignore jmdk721 Report Abuse For now....
ferinko Sophomore Author Ontario Posts:139 Points:275,255 Joined:Jan 2012	Message Posted: May 4, 2012 8:37:13 PM Ignore ferinko Report Abuse it is one big game. with ours many
carpenter4u Champion Author Virginia Posts:2,436 Points:615,645 Joined:Jul 2011	Message Posted: May 4, 2012 8:32:52 PM Ignore carpenter4u Report Abuse tired of the yoyo
umitb Champion Author Indianapolis Posts:3,675 Points:843,440 Joined:Apr 2010	Message Posted: May 4, 2012 8:32:10 PM Ignore umitb Report Abuse ok
Dodge_Me Champion Author Atlanta Posts:2,214 Points:555,480 Joined:Mar 2006	Message Posted: May 4, 2012 8:30:29 PM Ignore Dodge_Me Report Abuse Hmm
marinedad1949 Champion Author Lancaster Posts:2,486 Points:503,220 Joined:Nov 2011	Message Posted: May 4, 2012 8:28:55 PM Ignore marinedad1949 Report Abuse Wait and see.
Wanda127 Champion Author Florida Posts:2,494 Points:914,030 Joined:May 2010	Message Posted: May 4, 2012 8:28:09 PM Ignore Wanda127 Report Abuse The prices are starting to fall here but need to keep falling.
carman11 Champion Author North Carolina Posts:3,332 Points:690,750 Joined:Jun 2011	Message Posted: May 4, 2012 8:27:31 PM Ignore carman11 Report Abuse WHAT HAPPEN TO THE $5.OO A GALLON THAT WAS PREDICTED IN MARCH!!! WHAT TO BELIEVE. NOT THE NEWS MEDIA.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: May 4, 2012 8:27:19 PM Ignore tippybuddy Report Abuse I sure hope that is right
toadNY Champion Author Albany Posts:7,037 Points:1,512,175 Joined:Apr 2008	Message Posted: May 4, 2012 8:27:11 PM Ignore toadNY Report Abuse BULL! It was all speculation that the world will End an they want to be the Richest dead person!
firasatali Champion Author Toronto Posts:3,095 Points:567,825 Joined:May 2011	Message Posted: May 4, 2012 8:24:22 PM Ignore firasatali Report Abuse wait and see
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: May 4, 2012 8:23:26 PM Ignore abcdMA Report Abuse until a hurricane happens
cashpayer Sophomore Author Raleigh Posts:147 Points:81,395 Joined:Feb 2012	Message Posted: May 4, 2012 8:22:00 PM Ignore cashpayer Report Abuse 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 Posts:8,343 Points:1,538,780 Joined:Mar 2008	Message Posted: May 4, 2012 8:21:22 PM Ignore danreino Report Abuse But Uastralis just ran ou tof oil. Norway ran out ouf ripe tomatoes too. See ya...........
Zonk Champion Author Michigan Posts:6,476 Points:2,101,790 Joined:Oct 2005	Message Posted: May 4, 2012 8:18:38 PM Ignore Zonk Report Abuse Pump prices are on the way down.
luvmyburgi Champion Author Ohio Posts:5,825 Points:959,245 Joined:Sep 2005	Message Posted: May 4, 2012 8:18:01 PM Ignore luvmyburgi Report Abuse Not sure about that one. Wait and see game.
gasmack Champion Author Ventura Posts:1,705 Points:667,300 Joined:Feb 2011	Message Posted: May 4, 2012 8:16:34 PM Ignore gasmack Report Abuse Let's hope prices stay down long enough for us to recover some of the money we've lost.
julesTN Veteran Author Nashville Posts:383 Points:164,870 Joined:Aug 2011	Message Posted: May 4, 2012 8:13:11 PM Ignore julesTN Report Abuse it's too soon to tell - the year's not even half over!
spotterjoe Rookie Author Nevada Posts:83 Points:17,720 Joined:Apr 2012	Message Posted: May 4, 2012 8:12:58 PM Ignore spotterjoe Report Abuse isn't this old news from a couple weeks ago?
NakedDriver Champion Author Des Moines Posts:15,850 Points:2,460,225 Joined:Oct 2004	Message Posted: May 4, 2012 8:10:29 PM Ignore NakedDriver Report Abuse 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 Posts:2,940 Points:625,775 Joined:Jul 2011	Message Posted: May 4, 2012 8:09:32 PM Ignore LaVonneK Report Abuse Time will tell.
mrbee Champion Author Little Rock Posts:3,749 Points:2,464,855 Joined:Oct 2005	Message Posted: May 4, 2012 8:08:42 PM Ignore mrbee Report Abuse About time
GoGoGoodyear Champion Author Los Angeles Posts:2,049 Points:507,105 Joined:Mar 2010	Message Posted: May 4, 2012 8:08:10 PM Ignore GoGoGoodyear Report Abuse No they haven't. Gas prices are on the upswing the last few days in some areas.
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: May 4, 2012 8:06:08 PM Ignore babugp Report Abuse yeah
DTroytNC Veteran Author Charlotte Posts:366 Points:62,510 Joined:Jan 2012	Message Posted: May 4, 2012 8:05:29 PM Ignore DTroytNC Report Abuse Until global demand drops the price isn't going down much lower.
200porter Champion Author Toronto Posts:2,060 Points:541,160 Joined:Sep 2011	Message Posted: May 4, 2012 8:04:21 PM Ignore 200porter Report Abuse I don't believe they've peaked yet. They will come up with something to raise prices again.
serrog Champion Author Nova Scotia Posts:5,559 Points:1,511,155 Joined:Oct 2008	Message Posted: May 4, 2012 8:04:21 PM Ignore serrog Report Abuse I doubt it.
Eugenian Champion Author Oregon Posts:1,857 Points:361,155 Joined:Oct 2009	Message Posted: May 4, 2012 8:03:12 PM Ignore Eugenian Report Abuse Wall Street's "greed is good" set will do whatever they can to push prices up.
hubie24 Veteran Author Michigan Posts:315 Points:204,080 Joined:Jul 2010	Message Posted: May 4, 2012 8:01:18 PM Ignore hubie24 Report Abuse yeah right. nice try.
cyclonePC Rookie Author Pennsylvania Posts:19 Points:7,075 Joined:Apr 2012	Message Posted: May 4, 2012 8:00:39 PM Ignore cyclonePC Report Abuse hmm
hauler43 Champion Author Oakland Posts:8,158 Points:2,597,750 Joined:Sep 2003	Message Posted: May 4, 2012 7:57:00 PM Ignore hauler43 Report Abuse Not so gas prices going up
letmathe Champion Author Chicago Posts:14,316 Points:3,132,545 Joined:May 2001	Message Posted: May 4, 2012 7:49:50 PM Ignore letmathe Report Abuse ok
Ray_10589 Champion Author New York Posts:4,941 Points:1,182,010 Joined:May 2009	Message Posted: May 4, 2012 7:48:35 PM Ignore Ray_10589 Report Abuse I hope so ....