Report: Price of oil plummets below $100, gas may fall to $3.50/gallon by June

1593 Views 3 Replies 4 Participants Last post by High.Breed, May 10, 2011

much2green

Discussion Starter · May 6, 2011

The price of a barrel of oil dropped by $9.44 on Thursday alone, lowering the price below $100 per barrel for the first time in two months. According to the Associated Press, the per-barrel price reportedly dropped further to $97/barrel early Friday, and the trend may not reverse itself any time soon.

Some analysts feel that we may see some relief at the fuel pump, with prices dropping to an average of $3.75 per gallon by Memorial Day, and $3.50 by mid-summer. Currently, the price of a gallon of petrol rests at about $4.00 per gallon nation-wide, though many areas are paying much more.

do you guys believe the annalist about the price drop.. i mean it did happen and the 3 cents drop inst much compared to how fast it went up...

Hopefully gas will drop about 15cents over the coming 2 months.. that would be best!

full article here

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EV_Fan

· #2 · May 9, 2011

Gas prices fall now, and then what later on?... it goes higher up? YOU BET

prices will always go up, were getting a slight break at the pumps right now, enjoy it while you can. Hopefully the boom of EV/Hybrid vehicles will help lower gas prices since less and less people will need fuel and more will convert to EV/Hybrid cars as they become more affordable.

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ToyotaPWR

· #3 · May 10, 2011

@ OP, 15 cents is a lot for gas prices to drop, do you really think that will happen?

FYI gas in Ontario went up 6 cents today after droping 3 cents the day before.

Gas prices always go like this.... 3 steps forward, 1 step back. Only if we had a gas price chart to view the stats over the past while.

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High.Breed

· #4 · May 10, 2011

It makes no sense, the price of crude oil isn't ridiculously high, be than we get the high oil prices.

even though canada and the US have way lower gas prices than people in the UK , and Asia and etc, there almost is no control over the amount of fluxuation between gas prices...

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