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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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REPLIES (newest first) Post a Reply
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Apr 16, 2012 8:51:29 AM

not happening here. talk to me in june
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remay
Champion Author Houston

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Message Posted: Apr 16, 2012 8:42:06 AM

yeah, give us (false) hope...
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alex395
Champion Author Louisville

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Message Posted: Apr 16, 2012 8:00:55 AM

Netanyahu will take care of this-no such thing as reduced prices when Iran is on the hit list.
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LilRedWagonIN
Champion Author Indiana

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Message Posted: Apr 15, 2012 11:31:08 PM

May have peaked, CNN? Report this: local gasoline prices jumped thirty cents yesterday. Doesn't fit your propaganda does it.
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dave27johnson
Champion Author Chicago

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Message Posted: Apr 15, 2012 10:13:47 AM

The bubble has burst.
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Norm10
Champion Author British Columbia

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Message Posted: Apr 15, 2012 9:20:43 AM

They are still going up around here!
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JohnofGB
Champion Author Flint

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Message Posted: Apr 14, 2012 11:08:55 PM

Just jumped up to $3.99 here. That was a 40 cent jump when gasoline wholesale prices were falling.
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amerk73
Champion Author Dallas

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Message Posted: Apr 14, 2012 10:56:16 PM

here $3.69
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Ahking
Champion Author Orange County

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Message Posted: Apr 14, 2012 10:29:25 PM

it may also be speculators taking profits before building the market again.
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PDQBlues
Champion Author San Diego

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Message Posted: Apr 14, 2012 10:05:23 PM

But then again, maybe not.

Prices have been slowly coming down. Hopefully, they are correct.
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eomc17
Champion Author Tucson

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Message Posted: Apr 14, 2012 9:48:19 PM

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???
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schatzila
Champion Author Los Angeles

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Message Posted: Apr 14, 2012 9:42:03 PM

Doubt it.
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Debrastorch
Veteran Author Florida

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Message Posted: Apr 14, 2012 7:39:40 PM

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.
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TripleHs
Champion Author Austin

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Message Posted: Apr 14, 2012 7:34:56 PM

whatever
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molebaby96
Champion Author Tallahassee

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Message Posted: Apr 14, 2012 7:01:04 PM

Hope this story is true.
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Cashless
Champion Author Akron

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Message Posted: Apr 14, 2012 6:36:26 PM

O.K.
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nfldude
Champion Author San Diego

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Message Posted: Apr 14, 2012 6:31:25 PM

prices need to slide so Obama can take credit to try as he tries to get reelected
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TRYWI
All-Star Author Appleton

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Message Posted: Apr 14, 2012 6:09:20 PM

okay
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APlus
Champion Author San Antonio

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Message Posted: Apr 14, 2012 6:08:59 PM

Prices only go higher and stay high for profits- no matter actual is happening is my opinion.
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badbonita
Champion Author Syracuse

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Message Posted: Apr 14, 2012 5:50:29 PM

That would be nice. It would be nicer if the price would drop as fast as it went up. Yea, I'm dreaming.
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dh0770
Champion Author Colorado

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Message Posted: Apr 14, 2012 5:44:12 PM

Hope is an emotional response that will be taken advantage of by speculators!
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buckets42
Champion Author New Jersey

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Message Posted: Apr 14, 2012 5:39:13 PM

Nobody knows...
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MusicalMan7
All-Star Author Ohio

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Message Posted: Apr 14, 2012 5:28:57 PM

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?
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