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GasBuddy News Article

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Are oil prices cruising for a bruising?

Chicago Sun Times -- As you gas up the car this holiday weekend, paying prices many view as extortionate, take comfort in the outlook of some that oil prices can’t go on at their high levels.

A commodities analyst has taken to the Web in recent weeks to proclaim that an oil “crash” is coming. He has said that the per-barrel price, currently $97.51, could test the December 2008 low of less than $33.

Others aren’t so dramatic but think prices will slide, providing relief at the pump later this year. Reasons include the likelihood of a global economic slowdown — even China is beginning to look winded — sharply higher production in the U.S., a shift to higher-mileage cars and heavy trucks that run on natural gas and even Saudi Arabia’s supposedly selfish reasons to keep on pumping as prices fall. . .


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Submitted Sep 01, 2012 By: MidNJ
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Author Topic: Are oil prices cruising for a bruising? Post a Reply Back to Topics
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andy1024
Champion Author Allentown

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Message Posted: Sep 2, 2012 9:39:31 PM
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Let's hope it will come true.
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DerHahn
Champion Author Illinois

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Message Posted: Sep 2, 2012 9:11:23 AM
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heard this story before. but pump prices keep going up.
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heydano67
Champion Author California

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Message Posted: Sep 2, 2012 3:14:45 AM
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The only thing getting a bruising is my wallet
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MrLefty0706
Champion Author Chicago

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Message Posted: Sep 2, 2012 12:48:49 AM
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I would not bet on this happening!
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52MPG
Champion Author Dayton

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Message Posted: Sep 2, 2012 12:10:43 AM
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The sooner the better.
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leemun
Champion Author Utah

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Message Posted: Sep 1, 2012 5:14:39 PM
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$35 a bbl seems about right to me.
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PDQBlues
Champion Author San Diego

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Message Posted: Sep 1, 2012 1:45:48 PM
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We can hope, before the consumer gets the bruising.
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qwerty17
Champion Author New Jersey

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Message Posted: Sep 1, 2012 11:51:27 AM
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hope they get bruised badly.
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md11capt
Champion Author Denver

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Message Posted: Sep 1, 2012 11:50:13 AM
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Believe it when you see it.
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skinsfan125
Champion Author Virginia

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Message Posted: Sep 1, 2012 10:27:09 AM
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nobody is forcing these commodies traders to stay in the business. If they start loosing money they can get a second or third job like everybody else.
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DanMtz
Champion Author Oakland

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Message Posted: Sep 1, 2012 8:26:54 AM
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If oil went way down, economies everywhere would take off.
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WalRus49
Champion Author Boston

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Message Posted: Sep 1, 2012 6:36:19 AM
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More organized mayhem and pillage................
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DrLyon
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Message Posted: Sep 1, 2012 6:31:10 AM
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Lets see....
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FPLREP
Champion Author Virginia

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Message Posted: Sep 1, 2012 6:27:13 AM
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Lots of downward pressure starting this week. Driving season is over and the damage from the hurricane was minimal.
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rbrk02
Champion Author Rhode Island

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Message Posted: Sep 1, 2012 6:15:33 AM
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I'll believe it when I see it...
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BBopp
Champion Author Dayton

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Message Posted: Sep 1, 2012 5:46:11 AM
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I can only hope.
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wrunner
Champion Author Virginia

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Message Posted: Sep 1, 2012 5:31:39 AM
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Isn't it already?!
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Sep 1, 2012 3:58:01 AM
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Good news but we all must CONSERVE!!!!
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gmcgas
Champion Author Atlanta

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Message Posted: Sep 1, 2012 12:58:37 AM
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maybe
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kgbellman
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Message Posted: Sep 1, 2012 12:55:37 AM
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They should after elections
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roadrunnerMO
Champion Author Kansas

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Message Posted: Sep 1, 2012 12:37:22 AM
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Dream on about them dropping... After a change at helm they probably will.
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JohnofGB
Champion Author Flint

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Message Posted: Sep 1, 2012 12:27:38 AM
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Certainly hope so. But , lately, the price of crude has had very little effect on gasoline prices. Different gougers.
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LostToo
Champion Author Illinois

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Message Posted: Sep 1, 2012 12:22:49 AM
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There is always many reasons for gas to go up. Not so many for it to fall. I will wait and see.
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bojiway1
Champion Author Minnesota

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Message Posted: Sep 1, 2012 12:19:55 AM
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Ok
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bojiway1
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Ok
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Cyberkedi
Champion Author Atlanta

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Message Posted: Sep 1, 2012 12:17:59 AM
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I hope so!

Anyway, high prices are better than a gas pinch, like what we had in the Southeast after Gustav and Ike. At least when fuel was a [censored] four bucks a gallon, you could actually buy gas!
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greenfog
Champion Author Illinois

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Message Posted: Sep 1, 2012 12:10:04 AM
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let it go, and maybe a lot of the 1% will loose the ASS!
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Grumpy0521
Champion Author Ontario

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Message Posted: Sep 1, 2012 12:07:54 AM
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Cost of living is going up but our pay is the same. Whoever is responsible, thank you very much.
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carloco75
Champion Author Richmond

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Message Posted: Sep 1, 2012 12:06:41 AM
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Ummmmkay...
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Sep 1, 2012 12:04:54 AM
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Let it crash!! We were at $1.49 a gallon here in Branson, Missouri in 2008!
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yonasb
Champion Author Houston

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Message Posted: Sep 1, 2012 12:03:45 AM
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ok
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Ron77095
Champion Author Houston

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Message Posted: Sep 1, 2012 12:01:50 AM
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Ugh.
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bcok
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Message Posted: Sep 1, 2012 12:01:38 AM
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Let it drop as far as possible.
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GAS1251
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Message Posted: Sep 1, 2012 12:00:20 AM
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Wishful thinking?
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Homerclub
Champion Author Idaho

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Message Posted: Aug 31, 2012 11:59:28 PM
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it can go down after the election , hope it stays up for now
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Bildawg
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Message Posted: Aug 31, 2012 11:59:00 PM
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RAPE!!!!!!!!
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etothek
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Ok
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pumaMN
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Message Posted: Aug 31, 2012 11:58:15 PM
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ok
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10k
Champion Author North Carolina

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Message Posted: Aug 31, 2012 11:58:14 PM
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what does it matter-the economy has tanked already, so who can buy it ??..
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TBONE3
Champion Author Pennsylvania

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Message Posted: Aug 31, 2012 11:56:53 PM
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Time and world conditions will tell what happens with fuel prices..
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RTBama1
Sophomore Author Montgomery

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Message Posted: Aug 31, 2012 11:56:11 PM
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Time for this bubble to burst!
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lunarrv15
Champion Author Cincinnati

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Message Posted: Aug 31, 2012 11:55:49 PM
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okay..interesting
thanks for posting
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7SPEEDY7
Champion Author Flint

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Message Posted: Aug 31, 2012 11:54:48 PM
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Yes!
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joel27nc
Champion Author Raleigh

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Message Posted: Aug 31, 2012 11:48:16 PM
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no kidding
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alterman156
Champion Author New York

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Message Posted: Aug 31, 2012 11:46:17 PM
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Another oil "crash" could happen.
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mrbee
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Message Posted: Aug 31, 2012 11:45:51 PM
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I am ready.
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Kawibiker
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Yes and soon.. we hope
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MikeCapeCoral
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Bring it on!
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megadiesellv
Champion Author Atlanta

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Message Posted: Aug 31, 2012 11:41:38 PM
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Ok.
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panda317
Champion Author Massachusetts

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Message Posted: Aug 31, 2012 11:41:14 PM
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ok
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