Future Predicted Gas Prices

[JanGeo]

Anyone thinking about the price of gas as the Memorial Day holiday approaches?

I have seen it drop for the Holiday weekend in past years . . . maybe the oil companies are doing the patriotic thing - need to get gas some gas soon (for the weekend) and wondering if I should wait until the weekend or not.

[101mpg]

I will not edit this post - look back to see if I'm right. Gas will continue to go up through about the 4th of July or so, definitely topping $4 in most of the country. It will start heading down until about the second week in November so that those currently in power can try to get re-elected.

Today is May 19, 2008. May 19, 2009 gasoline will be over $5 per gallon.

And the recession will hit in either April or October of 2009.

[fumesucker]

Depending on how you define "recession", it's already here..

The government has been playing so many games with the economic statistics for so long that government numbers are essentially useless for figuring out what is really going on with the economy.

[fumesucker]

We are very close to an economic "tipping point" where a lot of part time workers will find that it does not make economic sense to drive to their part time jobs.

If you are working and the exercise is a net money loss, then it does not make sense to continue to work at that job. $4.00 and above gas, combined with sub 20 mpg transportation and the long distances common in America will bring that economic point to many here in the near future if they are not at that point already.

I'm thinking that the ability to squeeze a lot more miles out of a gallon of gas may become quite valuable to many Americans soon.

[EH3]

i completely agree. $5/gal regular is not at all out of the question for summer of '09. i don't think prices will stop rising until we match what europe is paying (~$8+/gal).

[Kuripot]

Personally I don't think the world economy can sustain oil prices at this level indefinitely. IMHO the rise has happened to quickly and there's a bubble formed. I predict we see gasoline below the $3 mark again before the summer of 2009. India, Indonesia, and China have been subsidizing oil prices. Other countries have frozen the price of gasoline. They can't afford to continue to do that forever. When they stop, and gasoline goes through the roof in those countries, their economies will suffer significantly and demand for oil and gas will drop as it already is in the US and Canada. Thats when prices will come back down. I believe they will drop after the summer olympics when China cuts back on their subsidies but I'm not sure how much. It just depends on how long these governments can keep the price low in their countries.

[JanGeo]

On the news tonight highest was the Netherlands over $8 a gallon - Saudi Arabia $0.45 a gallon . . . yeah 45 cents a gallon!

Interesting how the price of Electricity has not gone up as much as gasoline . . . now if we were driving electric cars . . . hummmmm . . . .

In the website rhodeislandgasprices.com and other sites for the other states they have historical graphs of gas prices going back years and is seems to peak around May 25th then drop a little. Looks like buying a few 6 gallons cans full about a month ago was a good idea - would have paid for the gas cans by now almost.

[theholycow]

Since we're now talking about current prices in other countries...I think it's 12 cents per gallon in Venezuela.

[adamsjd1]

Originally Posted by JanGeo

On the news tonight highest was the Netherlands over $8 a gallon - Saudi Arabia $0.45 a gallon . . . yeah 45 cents a gallon!

While that may be true, take into account what the economy is like over there to begin with. At $0.45 / gallon, it just might be equivelent to $3.00+ / gallon. 45 cents is little to us, but still worth quite alot elsewhere.

[1993CivicVX]

In Lima Peru in the summer of 2000 I believe, gas was a little over $1.00/liter (about $4.00/gal) That price for gas did not match the economic state of the country. BTW, where are you guys getting your figures for Saudi Arabia and Venezuela? I got my statistic from being in the country and remembering what it said at the gas station and then converting it from soles to dollars.