$5 a gallon for gas by this summer?

**imagine** · 02-22-2011, 04:41 PM

This article If Libyan unrest spreads, gas could reach $5 - USATODAY.com Says

"If political unrest in Libya spreads to other oil-rich countries and the ensuing chaos disrupts crude oil production, gas prices could hit $5 a gallon by peak summer driving season, industry analysts say."

it also says

"Gas prices are up 20% from levels a year ago but nearly 23% below the record $4.11 average set in July 2008."

and it also says

"Speculators are also propelling oil. After profiting on soaring cotton, coffee and corn futures, traders are exploiting the energy market. "The flow of money plays an enormous role in the direction, speed and volatility of these markets," says Newsom."

and it says this too

"AAA spokesman Troy Green says speculation on gas prices is premature. "I would caution folks in the prediction business," he says. "Throwing out numbers is akin to predicting who's going to win the Super Bowl in 2012."

It said other things too. I couldn't quote them all but the link to the article is above.

Interesting things to think about IMHO. All the things that go into prices ,like the price of a gallon of gas.

**indigo53** · 02-22-2011, 04:44 PM

It was predicted to go up to $5 long before this unrest. Now it will probably go to $7.

**imagine** · 02-22-2011, 04:48 PM

Originally Posted by indigo53

It was predicted to go up to $5 long before this unrest. Now it will probably go to $7.

Yeah you are right it was predicted to be at $5 long before this unrest. I found some articles that predicted it would reach $5 by summer in 2008. It did not. The highest it has been National average is $4.11 in July of 2008.

the article also say "Kloza expects prices to peak at $3.75 a gallon by the Memorial Day weekend. "No question, they'll climb further," he says. "But if prices move too high, consumers will cut back, and prices will fall. It really alters consumer psychology."

**brennasmom** · 02-22-2011, 05:14 PM

Sure seems like it could. We were in the next town over yesterday and saw gas for $3.45.

**kitkat0649** · 02-22-2011, 06:21 PM

I remember the summer of 08 paying over $5 a gallon (premium). We have a Prius now, we went from $600 a month for gas to $150.

**lisaflex** · 02-22-2011, 07:33 PM

all i can say is holy crap that just sucks......

**alotofgooddeals** · 02-22-2011, 07:58 PM

i know for myself now.. i stop at the grocery store on my way home or wait until i have several things to do in town before venturing out...I use to run to town just to go to one store because it is only 7 miles....but now i am waiting and have cut my trips significantly and during the week I just stop on my way home from work....and whoever said it depends on usage...if people stop using so much the prices will start to fall..i think that this is just one of the many things that are going to start to happen because of peoples fears and i believe the outcome is not going to be pretty....

**dancemommy** · 02-22-2011, 10:08 PM

It went up about 35 cents a gallon here today...

**NikoSan999** · 02-22-2011, 10:23 PM

Fox News said at noon today that it's supposed to go up 18cents a gallon Monday...I saw between 5 and 10 today

**Backtoreality** · 02-22-2011, 10:23 PM

With all the unrest in the world, prices jumped up where my husband works. So he calls me today and says, "Go fill up all the gas cans now." So I went and filled up all the cans and filled my tank earlier today. On the way home, it went up 20 cents in 45 minutes!! Thank goodness he called me when he did, I figured I saved $5-6 just with this trip.

**Russ** · 02-23-2011, 07:30 AM

Originally Posted by imagine

"But if prices move too high, consumers will cut back, and prices will fall. It really alters consumer psychology."

Exactly this. Here's some critical thinking for you to ponder...

If the prices go too high, say $5-7, what will it do to an already struggling world economy? How high do you think the gooberment will let it go before they try to do something?

**imagine** · 02-23-2011, 08:28 AM

Originally Posted by Russ

Exactly this. Here's some critical thinking for you to ponder...

If the prices go too high, say $5-7, what will it do to an already struggling world economy? How high do you think the gooberment will let it go before they try to do something?

Another puzzle piece I hadn't thought of.

So many pieces needed to fall into place or not fall into place to get $5 gas.

It is very interesting and fun to think about it all, isn't Russ?

**Darlene** · 02-23-2011, 09:13 AM

So when are we going to start taking care of business and make drilling our own oil a priority?

**imagine** · 02-23-2011, 10:06 AM

Originally Posted by Darlene

So when are we going to start taking care of business and make drilling our own oil a priority?

I don't understand.

Do you mean like grow your own garden, drill for your own oil? or do you mean we as a nation?

As a child who's father worked in the oil field and who had relatives that did drill for oil on their land years back, I'm confused?

**chowder** · 02-23-2011, 10:39 AM

What makes me so mad is the governments just play with this oil crisis talk.Saudi Arabia said they can make up for any shortfalls.Hell if you folks have a hurricane WARNING our gas prices jump and even if nothing hits, our gas does not go down.Long weekends our gas always spikes,why is that!!!! They know life revolves around oil,they have been playing this card for years.Now we pay higher fuel oil prices AND they put the HST tax (13%)on top of it.WHY,because they can.