GasBuddy Blog

GasBuddy News Article

votes

Gas price likely won't set record this summer

Philly.com -- NEW YORK - Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.

The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an initial estimate of $3.95 and below 2008's record average of $3.80.

The Energy Information Administration's revised forecast is encouraging news for the economy. Some economists blame high pump prices for so-so consumer spending this year. They were also seen as a factor in the loss of 35,000 retail jobs in February and March.

Gasoline prices soared 20 percent from January to early April.

A few analysts warned drivers they could pay as much as $5 this summer, eclipsing the 2008 record of $4.11 per gallon.

Not anymore. The price of ben

Read the Full Article

Submitted May 09, 2012 By: Cakes77

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Gas price likely won't set record this summer	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First Prev

Last

Gay_Blade Champion Author San Jose Posts:1,037 Points:359,725 Joined:Oct 2011	Message Posted: May 9, 2012 7:59:24 PM Ignore Gay_Blade Report Abuse and there's plenty of time for the price of gas to continue dropping like a feather, still straining our family budgets.
carpenter4u Champion Author Virginia Posts:2,436 Points:617,145 Joined:Jul 2011	Message Posted: May 9, 2012 7:58:25 PM Ignore carpenter4u Report Abuse Manipulation
altima2008 Champion Author Philadelphia Posts:8,165 Points:1,737,990 Joined:Apr 2008	Message Posted: May 9, 2012 7:54:39 PM Ignore altima2008 Report Abuse There is still plenty of time left in the nobama administration for us to get screwed.
bigrigAZ Champion Author Phoenix Posts:1,743 Points:1,054,660 Joined:Jul 2008	Message Posted: May 9, 2012 7:53:30 PM Ignore bigrigAZ Report Abuse Still not good enough... Below $2.75 would be something to shoot for. They finally got over the $3 mark but had to go near $5 to keep it over $3. Next year they will go back up and try for a final of over $4 for the year. Chu is probably sad it didn't hit $10. But he knows where he can go. Hopefully out of this administration in November where they can all be elected out of office. NOVEMBER...VOTE.
DustyHorse Champion Author Virginia Posts:6,090 Points:1,392,330 Joined:Oct 2008	Message Posted: May 9, 2012 7:52:46 PM Ignore DustyHorse Report Abuse Until things hit the fan with Iran.
dougtaylor1 Champion Author Phoenix Posts:1,756 Points:448,300 Joined:Jun 2011	Message Posted: May 9, 2012 7:46:37 PM Ignore dougtaylor1 Report Abuse They have gone up for no reason, and they do not go down. hummmm?
Cheney Champion Author Toronto Posts:2,024 Points:2,536,100 Joined:May 2004	Message Posted: May 9, 2012 7:45:23 PM Ignore Cheney Report Abuse good news for his re-election, eh?
Dailyrun Champion Author Kentucky Posts:1,987 Points:389,815 Joined:Apr 2012	Message Posted: May 9, 2012 7:43:39 PM Ignore Dailyrun Report Abuse Gas prices should NEVER have reached the current rate.
Johnnyrebell12 Champion Author Massachusetts Posts:1,333 Points:1,423,900 Joined:Aug 2005	Message Posted: May 9, 2012 7:43:09 PM Ignore Johnnyrebell12 Report Abuse Depends on which way they are figuring to set a record. It wont set a record low either
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,980 Joined:May 2011	Message Posted: May 9, 2012 7:41:18 PM Ignore gd83goldwinger Report Abuse It's a wait and see game.
spotterjoe Rookie Author Nevada Posts:83 Points:17,720 Joined:Apr 2012	Message Posted: May 9, 2012 7:40:54 PM Ignore spotterjoe Report Abuse PTL
arb0526 Champion Author Greensboro Posts:1,981 Points:411,595 Joined:Mar 2011	Message Posted: May 9, 2012 7:35:29 PM Ignore arb0526 Report Abuse Sorta like predicting the number of hurricanes....lots of revisions throughout the year.
DriverofRed Champion Author Calgary Posts:2,178 Points:412,860 Joined:Dec 2011	Message Posted: May 9, 2012 7:32:56 PM Ignore DriverofRed Report Abuse what? really?
nightworker998 Champion Author Maryland Posts:1,812 Points:667,590 Joined:Mar 2009	Message Posted: May 9, 2012 7:32:42 PM Ignore nightworker998 Report Abuse Wait for one of two things some idiot in Washington saying that the economy is improving or the 1st major Atlantic hurricaine
cssco Champion Author Virginia Posts:7,331 Points:1,752,505 Joined:Feb 2006	Message Posted: May 9, 2012 7:30:51 PM Ignore cssco Report Abuse Well if the AAA and the EIA say something, anything at all, then there is nothing left to do but look for higher prices at the pump or possibly gasoline shortages. Every day their outlook on things looks less like fact and more like a bad joke.
tgusa Champion Author Virginia Beach Posts:2,476 Points:439,875 Joined:Jun 2006	Message Posted: May 9, 2012 7:27:50 PM Ignore tgusa Report Abuse darn
toytech3 All-Star Author Chicago Posts:917 Points:610,820 Joined:Mar 2011	Message Posted: May 9, 2012 7:27:23 PM Ignore toytech3 Report Abuse Im sure the oil speculators will drive the price of oil up.
Holly123 Champion Author Charlotte Posts:3,207 Points:791,185 Joined:Dec 2010	Message Posted: May 9, 2012 7:22:50 PM Ignore Holly123 Report Abuse That's a good thing but the prices still aren't cheap enough.
vegan_power Sophomore Author Hartford Posts:126 Points:51,030 Joined:Feb 2012	Message Posted: May 9, 2012 7:21:42 PM Ignore vegan_power Report Abuse yey!
feistyfella All-Star Author Georgia Posts:881 Points:194,745 Joined:Jun 2010	Message Posted: May 9, 2012 7:21:10 PM Ignore feistyfella Report Abuse No ****, it's an election year, speculate that!
Bud122CA Champion Author California Posts:7,476 Points:1,607,050 Joined:Jul 2008	Message Posted: May 9, 2012 7:20:08 PM Ignore Bud122CA Report Abuse Just wait until more refineries close for "maintenance"
UC2 Champion Author Ventura Posts:1,305 Points:318,255 Joined:May 2010	Message Posted: May 9, 2012 7:14:35 PM Ignore UC2 Report Abuse as long as comsumers continue to protest to control the moguls' greed
judgemobile Champion Author Ohio Posts:7,575 Points:2,446,110 Joined:Nov 2005	Message Posted: May 9, 2012 7:12:43 PM Ignore judgemobile Report Abuse so oil execs won't get hundred million dollar bonuses--just tens of millions
nwhawk Champion Author Kansas Posts:1,972 Points:573,640 Joined:Nov 2010	Message Posted: May 9, 2012 7:11:09 PM Ignore nwhawk Report Abuse Only time will tell
ericbcire Champion Author Nevada Posts:4,525 Points:1,268,460 Joined:Aug 2009	Message Posted: May 9, 2012 7:10:30 PM Ignore ericbcire Report Abuse Prices must fall further or the economy will worsen.
skybiker Champion Author South Carolina Posts:7,297 Points:1,560,265 Joined:Jul 2008	Message Posted: May 9, 2012 7:09:59 PM Ignore skybiker Report Abuse Hope this is correct!!...
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: May 9, 2012 7:09:04 PM Ignore FunMyster Report Abuse Still too high.
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: May 9, 2012 7:03:40 PM Ignore fuelsaverMN Report Abuse NOBAMA HAS TO GO DOWN IN 2012 OR WE WON'T HAVE A COUNTRY LEFT.
bvrbill Champion Author Eugene Posts:3,223 Points:519,600 Joined:Jul 2011	Message Posted: May 9, 2012 7:03:19 PM Ignore bvrbill Report Abuse Let's hope prices don't break any records. It's still early and a lot can happen in the world economy.
fuelsaverMN Champion Author Twin Cities Posts:2,282 Points:559,080 Joined:Mar 2011	Message Posted: May 9, 2012 7:02:59 PM Ignore fuelsaverMN Report Abuse Yes....SPECULATORS NEED TO TAKE A BATH AND FORGET THE PROFITS.
gmcgas Champion Author Atlanta Posts:5,958 Points:1,715,145 Joined:Mar 2004	Message Posted: May 9, 2012 7:01:09 PM Ignore gmcgas Report Abuse one record i don't want to see broken, but i will.
listerone Champion Author Boston Posts:3,385 Points:879,740 Joined:Aug 2008	Message Posted: May 9, 2012 6:58:09 PM Ignore listerone Report Abuse The summer's still young.
nimpy Champion Author Indianapolis Posts:8,140 Points:1,702,080 Joined:Oct 2007	Message Posted: May 9, 2012 6:56:19 PM Ignore nimpy Report Abuse It will eventually break that record
WIWalt Champion Author Wisconsin Posts:1,731 Points:415,770 Joined:Mar 2012	Message Posted: May 9, 2012 6:55:40 PM Ignore WIWalt Report Abuse I hope the oil companies do not all go out of buisness due to low profits
camaro_man Champion Author Kitchener-Waterloo Posts:2,234 Points:611,935 Joined:Jun 2010	Message Posted: May 9, 2012 6:55:31 PM Ignore camaro_man Report Abuse whatever.....
Asbury09 Champion Author Iowa Posts:7,218 Points:1,531,280 Joined:Jan 2009	Message Posted: May 9, 2012 6:51:25 PM Ignore Asbury09 Report Abuse hope some speculators took a real bath
aggietim Champion Author Fort Worth Posts:1,756 Points:694,075 Joined:Oct 2008	Message Posted: May 9, 2012 6:50:13 PM Ignore aggietim Report Abuse good
fenster66 Champion Author Pittsburgh Posts:3,355 Points:675,065 Joined:May 2011	Message Posted: May 9, 2012 6:48:59 PM Ignore fenster66 Report Abuse I'd like to dream about $3 gas.....
Tucker1961 Champion Author Seattle Posts:2,157 Points:363,170 Joined:Jun 2009	Message Posted: May 9, 2012 6:44:34 PM Ignore Tucker1961 Report Abuse oh too bad
dollarwatcher Champion Author Wisconsin Posts:7,946 Points:1,536,065 Joined:Mar 2007	Message Posted: May 9, 2012 6:43:58 PM Ignore dollarwatcher Report Abuse Just more guessing going on.
kusanagisama All-Star Author Texas Posts:708 Points:191,525 Joined:Feb 2011	Message Posted: May 9, 2012 6:42:51 PM Ignore kusanagisama Report Abuse I hope this is right.
darkknight1 Champion Author Winston-Salem Posts:4,345 Points:897,035 Joined:Nov 2010	Message Posted: May 9, 2012 6:42:46 PM Ignore darkknight1 Report Abuse I hope it doesn't set a record unless it's for a low one...
luvmyburgi Champion Author Ohio Posts:5,836 Points:961,195 Joined:Sep 2005	Message Posted: May 9, 2012 6:41:51 PM Ignore luvmyburgi Report Abuse Good news so far
chicoCA Champion Author California Posts:1,985 Points:1,775,205 Joined:Nov 2007	Message Posted: May 9, 2012 6:41:15 PM Ignore chicoCA Report Abuse I hope you are right, Philly.com
DABEE1073 Champion Author San Diego Posts:8,210 Points:1,574,060 Joined:Jun 2008	Message Posted: May 9, 2012 6:41:09 PM Ignore DABEE1073 Report Abuse WHATEVER!!! THANK YOU obummer>
SandeeC Champion Author Ontario Posts:2,998 Points:461,230 Joined:Apr 2011	Message Posted: May 9, 2012 6:37:56 PM Ignore SandeeC Report Abuse Glad to see - hope it's right.
EXTREMESNOW Champion Author Medford Posts:8,910 Points:1,821,540 Joined:Jul 2006	Message Posted: May 9, 2012 6:37:50 PM Ignore EXTREMESNOW Report Abuse Nice to hear but I will not hold my breath.
ysmc Champion Author Providence Posts:10,568 Points:2,023,595 Joined:Apr 2007	Message Posted: May 9, 2012 6:37:46 PM Ignore ysmc Report Abuse a different kind of speculation
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: May 9, 2012 6:37:26 PM Ignore abcdMA Report Abuse a sign of a weak economy
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: May 9, 2012 6:36:20 PM Ignore iceman11 Report Abuse We will see
zimowski Champion Author San Jose Posts:6,676 Points:1,585,440 Joined:Nov 2007	Message Posted: May 9, 2012 6:34:55 PM Ignore zimowski Report Abuse Blah, blah, blah - nobody really knows...