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Why gas prices may have peaked

cnn --

After a relentless runup this spring, it's possible gas prices have peaked. Some analysts say they should fall along with oil prices, barring an Iran conflict or another major event.

NEW YORK (CNNMoney) -- After one of the fastest and steepest runups in recent memory, it's possible gasoline prices may have peaked.

Retail gas prices fell more than half a cent Friday to a nationwide average just above $3.90 a gallon, according to AAA, continuing a decline started late last week that has shaved almost 4 cents off the price of gas.

The decline mirrors a moderate drop in crude oil prices, which account for roughly 70% of the cost of gas.

Crude prices have fallen for a few reasons, but the biggest is Iran's decision to negotiate over its nuclear program.

Gas spending and prices

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Submitted Apr 14, 2012 By: mastermariner

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DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,624,400 Joined:Jun 2008	Message Posted: Apr 16, 2012 8:51:29 AM Ignore DrCashFlow Report Abuse not happening here. talk to me in june
remay Champion Author Houston Posts:6,953 Points:2,114,690 Joined:May 2006	Message Posted: Apr 16, 2012 8:42:06 AM Ignore remay Report Abuse yeah, give us (false) hope...
alex395 Champion Author Louisville Posts:2,040 Points:276,110 Joined:Jan 2007	Message Posted: Apr 16, 2012 8:00:55 AM Ignore alex395 Report Abuse Netanyahu will take care of this-no such thing as reduced prices when Iran is on the hit list.
LilRedWagonIN Champion Author Indiana Posts:7,761 Points:1,552,210 Joined:Oct 2008	Message Posted: Apr 15, 2012 11:31:08 PM Ignore LilRedWagonIN Report Abuse May have peaked, CNN? Report this: local gasoline prices jumped thirty cents yesterday. Doesn't fit your propaganda does it.
dave27johnson Champion Author Chicago Posts:1,787 Points:406,400 Joined:Feb 2012	Message Posted: Apr 15, 2012 10:13:47 AM Ignore dave27johnson Report Abuse The bubble has burst.
Norm10 Champion Author British Columbia Posts:3,332 Points:162,475 Joined:Dec 2010	Message Posted: Apr 15, 2012 9:20:43 AM Ignore Norm10 Report Abuse They are still going up around here!
JohnofGB Champion Author Flint Posts:5,411 Points:1,094,245 Joined:Feb 2010	Message Posted: Apr 14, 2012 11:08:55 PM Ignore JohnofGB Report Abuse Just jumped up to $3.99 here. That was a 40 cent jump when gasoline wholesale prices were falling.
amerk73 Champion Author Dallas Posts:7,038 Points:1,619,090 Joined:Oct 2008	Message Posted: Apr 14, 2012 10:56:16 PM Ignore amerk73 Report Abuse here $3.69
Ahking Champion Author Orange County Posts:3,497 Points:601,520 Joined:May 2011	Message Posted: Apr 14, 2012 10:29:25 PM Ignore Ahking Report Abuse it may also be speculators taking profits before building the market again.
PDQBlues Champion Author San Diego Posts:7,059 Points:1,445,400 Joined:Jan 2009	Message Posted: Apr 14, 2012 10:05:23 PM Ignore PDQBlues Report Abuse But then again, maybe not. Prices have been slowly coming down. Hopefully, they are correct.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Apr 14, 2012 9:48:19 PM Ignore eomc17 Report Abuse Peaked my ~SS.!! Speculators are still using Iran to jack up oil prices. Big oil is still imporing almost 10,000,000 barrels of Brent crude almost every day. Gasoline, too. They are closing or shutting down refineries left and right, as well as instructing refineries to reduce their refining margins to tighten gasoline supplies. Also, big oil pays millions to lie in our faces how the Keystone XL pipeline and Bakken reserves could provide us 500,000 jobs in the coming years and ignore the fact we had a lot of tornadoes lately that could rupture that pipeline, exposing our environment and people to highly toxic oil that would lead to the worst natural disaster ever. Plus big oil has many of our corrupt politicians in their pockets. Need I say more???
schatzila Champion Author Los Angeles Posts:4,934 Points:1,013,695 Joined:Jun 2010	Message Posted: Apr 14, 2012 9:42:03 PM Ignore schatzila Report Abuse Doubt it.
Debrastorch Veteran Author Florida Posts:397 Points:94,145 Joined:Mar 2012	Message Posted: Apr 14, 2012 7:39:40 PM Ignore Debrastorch Report Abuse gas prices have falled here in CA as well. Now, I wait a day or two before I refill to make sure I don't pay more if it continues to go down.
TripleHs Champion Author Austin Posts:3,355 Points:915,140 Joined:Oct 2009	Message Posted: Apr 14, 2012 7:34:56 PM Ignore TripleHs Report Abuse whatever
molebaby96 Champion Author Tallahassee Posts:2,120 Points:503,570 Joined:Nov 2011	Message Posted: Apr 14, 2012 7:01:04 PM Ignore molebaby96 Report Abuse Hope this story is true.
Cashless Champion Author Akron Posts:3,505 Points:732,130 Joined:Apr 2011	Message Posted: Apr 14, 2012 6:36:26 PM Ignore Cashless Report Abuse O.K.
nfldude Champion Author San Diego Posts:3,857 Points:443,855 Joined:Dec 2011	Message Posted: Apr 14, 2012 6:31:25 PM Ignore nfldude Report Abuse prices need to slide so Obama can take credit to try as he tries to get reelected
TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: Apr 14, 2012 6:09:20 PM Ignore TRYWI Report Abuse okay
APlus Champion Author San Antonio Posts:3,903 Points:988,520 Joined:Apr 2007	Message Posted: Apr 14, 2012 6:08:59 PM Ignore APlus Report Abuse Prices only go higher and stay high for profits- no matter actual is happening is my opinion.
badbonita Champion Author Syracuse Posts:6,209 Points:1,351,235 Joined:Jul 2008	Message Posted: Apr 14, 2012 5:50:29 PM Ignore badbonita Report Abuse That would be nice. It would be nicer if the price would drop as fast as it went up. Yea, I'm dreaming.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Apr 14, 2012 5:44:12 PM Ignore dh0770 Report Abuse Hope is an emotional response that will be taken advantage of by speculators!
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: Apr 14, 2012 5:39:13 PM Ignore buckets42 Report Abuse Nobody knows...
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,330 Joined:Apr 2012	Message Posted: Apr 14, 2012 5:28:57 PM Ignore MusicalMan7 Report Abuse This is confusing. One article says supplies are high and prices are dropping, another says they've peaked, yet another says they'll stay high longer than usual due to shortages. Does anybody really know for sure?