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Author
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Topic: What happened to $4 gas?
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Blue Oval
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Member # 2548
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posted
 
 
you guys need to fill up in sac... ive been paying around 3.55 a gallon for the past 4 weeks now
Posts: 2345 | From: Sacramento | Registered: Mar 2003
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Jaejae5.0
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Member # 7958
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posted
i say we riot ![[Big Grin]](biggrin.gif)
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1987 notchback h/c/i 302 & 70mm turbo SOLD
2000 camaro ss cam only
Posts: 4890 | From: the combustion chamber | Registered: Oct 2007
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iceman302
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Member # 7180
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posted
quote:
Originally posted by 532Fastback:
quote:
Originally posted by iceman302:
quote:
Originally posted by iceman302:
The fact of the matter is that there is a lot more going on than supply and demand. With the higher prices, the demand for oil has actually reduced for the first time in more than a decade. The supply/demand price of oil is right at $65-$70 a barrel... exactly where it was about a year ago. Nothing in the world has happened on the supply or demand side to double it in a year's time. The main problem is speculation. The weaker dollar is also causing gas prices to spike as it becomes cheaper for investors in countries with stronger currencies to buy oil. BTW, the inflation derived price of a gallon of gas going back to the 60's is $2.21 (excluding the increased world demand). I also predict that oil will be back under $100 by the end of the year.
I'm a bonafide Nostradamus! And over 3 months ahead of the end of the year.
my prediction is oil prices wil go back over 100 and gas prices will go back up to 4.00 a gallon after nov 3rd.
Not likely. The US accounts for 25% of the world's consumption of oil. From November of '07 to May '08, 40.5 BILLION fewer miles driven by US consumers. That figure has been revised up since then. Demand was down 7% in September this year compared to last year... a difference of nearly 1.5 million barrels a day.
The slump in energy demand has accelerated beyond the U.S. In India, domestic oil product sales totaled 2.41 million barrels per day in August, the lowest level this year, according to Barclays Capital research. In the same month, Japan's oil demand fell by 8.4 percent.
I think that it will probably trade in the mid to low 80's by the end of the year now.
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'65 Mustang Fastback
Posts: 4171 | From: Rancho Murieta | Registered: Oct 2006
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AL STOCK
Its All Stock
Cuzzon
Member # 1852
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posted
I don't know about you guys, i just passed by a Chevron that's $3.70 per gallon.
![[patriot]](graemlins/patriot.gif)
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.:: FANATICS ::.
93 Cobra Teal
93 Cobra V Red
90 SSP
SVT Raptor
Huracan Rosso Mars
E63s W213 Selenite Gray
C7Z M7 Daytona Sunrise
Posts: 6498 | From: San Bruno | Registered: Sep 2002
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MustangNate
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Member # 4559
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posted
$3.45 @ Shell as of this morning.
Fort Wayne, IN.
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1989 Mustang LX Vert, 5.0 Auto
Posts: 1032 | From: Chico | Registered: May 2004
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Wildfire532FB
CAFords OG
Member # 1482
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posted
quote:
Originally posted by iceman302:
quote:
Originally posted by 532Fastback:
quote:
Originally posted by iceman302:
quote:
Originally posted by iceman302:
The fact of the matter is that there is a lot more going on than supply and demand. With the higher prices, the demand for oil has actually reduced for the first time in more than a decade. The supply/demand price of oil is right at $65-$70 a barrel... exactly where it was about a year ago. Nothing in the world has happened on the supply or demand side to double it in a year's time. The main problem is speculation. The weaker dollar is also causing gas prices to spike as it becomes cheaper for investors in countries with stronger currencies to buy oil. BTW, the inflation derived price of a gallon of gas going back to the 60's is $2.21 (excluding the increased world demand). I also predict that oil will be back under $100 by the end of the year.
I'm a bonafide Nostradamus! And over 3 months ahead of the end of the year.
my prediction is oil prices wil go back over 100 and gas prices will go back up to 4.00 a gallon after nov 3rd.
Not likely. The US accounts for 25% of the world's consumption of oil. From November of '07 to May '08, 40.5 BILLION fewer miles driven by US consumers. That figure has been revised up since then. Demand was down 7% in September this year compared to last year... a difference of nearly 1.5 million barrels a day.
The slump in energy demand has accelerated beyond the U.S. In India, domestic oil product sales totaled 2.41 million barrels per day in August, the lowest level this year, according to Barclays Capital research. In the same month, Japan's oil demand fell by 8.4 percent.
I think that it will probably trade in the mid to low 80's by the end of the year now.
i think its only going down because its election time.
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68 Fastback
84 CJ7
94 HMMWV
95 GT
03 F350
17 Fusion Hybrid
Posts: 17578 | From: 530 | Registered: Jun 2002
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Gunther Rhadhaus
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Member # 8662
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posted
Gas is like this all the times in the Netherlands. Which is why the people are all riding bikes lol!!
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1973 Baby
Posts: 11 | From: Formerly East Amsterdam, now Bay Farm Island | Registered: Sep 2008
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iceman302
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Member # 7180
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posted
quote:
Originally posted by AL STOCK:
I don't know about you guys, i just passed by a Chevron that's $3.70 per gallon.
This thread was started back in early June. It's amazing the turnaround that we've seen.
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'65 Mustang Fastback
Posts: 4171 | From: Rancho Murieta | Registered: Oct 2006
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SVTGhoust
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Member # 20
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posted
i cant believe you guys are excited about the gas prices coming down. Unless we ever see the sub $3.00 mark, we are still be raped.
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2013 Shelby GT500 / 2020 Shelby GT500
Posts: 962 | From: Brentwood, CA 94513 | Registered: Oct 2000
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