Wanna bet?

**earthymom** · 06-15-2008, 10:07 AM

The EIA (Energy Information Administration) projects gas prices will peak at $4.15 in August.
http://www.eia.doe.gov/steo

They say: "Regular-grade gasoline is expected to average $3.78 per gallon in 2008, or 97 cents above the 2007 average price. The U.S. average regular gasoline price, currently over $4 per gallon, is projected to peak at $4.15 per gallon in August. Retail diesel fuel prices are projected to average $4.32 per gallon in both 2008 and 2009, an increase of $1.44 per gallon over the 2007 average."

Do you think they're right and we can set are budgets by their numbers? Or do you think the EIA is way off? Anybody want to guess what gas really will cost in August? I'm going to wager it will be around $4.59/gallon.

Their track record hasn't been particularly good.
This is the US Energy Information Administration's official prediction for oil prices, circa 2007. According to the "high price" scenario, oil may reach $100 per barrel some time around 2030. But wait: oil was at $127 yesterday. So, not only was the EIA projection wrong -- it was wildly and completely wrong.
You can see even more of their wrong estimates here:
http://daily.sightline.org/daily_sco...14/oil-futures

**earthymom** · 06-15-2008, 10:13 AM

Originally Posted by nanagail

it said diesel would be $4.32. Ours is $4.79 now. No wonder the food is going up.

Yes, its no wonder food is going up -- and lots of other things too. "Buying local" may become critical -- cheaper than getting goods that have been shipped thousands of miles.

**Marie78** · 06-15-2008, 10:24 AM

It's surpassed $4.15 a gallon here for the cheapest grade gasoline in my area. My guess for August would be $4.85 a gallon or higher for the cheapest grade gas at the cheapest priced gas station I can find.

**YankeeMom** · 06-15-2008, 10:33 AM

Considering gas here is $4.20/gallon for the cheapest (and we are not even close to a metro area) I think they are quite a bit off.

**Jskell911** · 06-15-2008, 10:54 AM

Since we are already at $4.40 around here, I am going to venture a guess for the National Avg in August to be more in line with that. So, I'll say more like $4.40.

**DonnainME** · 06-15-2008, 11:06 AM

I am thinking $5 per gallon. I'm using hypermiling techniques and also have a SMALL car - Kia Rio Cinco. We also combine trips when we are using the car.

**McD** · 06-15-2008, 11:09 AM

I'm scared to get gas today...especially since hubby and I both need to get it.

At least we get a free Sunday paper out of the deal.

**earthymom** · 06-15-2008, 01:52 PM

I just filled up for $3.92. A few years ago I wouldn't have thought that was a good price. . .

**McD** · 06-15-2008, 02:04 PM

I paid 3.79 for my ethanol gas and hubby paid 4.09 for premium (His car requires it.)

**fernykins** · 06-15-2008, 04:17 PM

Well its 4:45 and is going up to 6 in Aug............

Fern

**Frugal Nurse** · 06-15-2008, 04:21 PM

Oh dear. I suspect it will be alot higher than that.

I still can't figure out why deisel is more expensive that the low grade fuel?

Creating deisel is less costly than regular gas. I do believe. But I will check on that anyway.. unless tracter dude knows.

**freyadog** · 06-15-2008, 09:23 PM

Gas prices? What a pain in the backside. I really cant make an intelligent guess as to what the prices will be by August but I can bet that they will be way more than they are today.

**DonnainME** · 06-17-2008, 07:04 PM

I filled up today.

$4.09 per gallon. I'm sick about it.

**pita1213** · 06-17-2008, 07:09 PM

we're still under $4 a gallon, but only by a few pennies.

**angelbumpkin** · 06-17-2008, 07:18 PM

I'm so glad that at for about $20 at current prices fills my car up and I only need to do that about every 2-3 weeks. We don't go anywhere unless we absolutely need to. And when we do we combine as many errands as possible.
My best friend is a truck driver I feel bad for him. As the prices for fuel rises it makes it harder for them to stay above water.