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GasBuddy News Article

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Are oil prices cruising for a bruising?

Chicago Sun Times -- As you gas up the car this holiday weekend, paying prices many view as extortionate, take comfort in the outlook of some that oil prices can’t go on at their high levels.

A commodities analyst has taken to the Web in recent weeks to proclaim that an oil “crash” is coming. He has said that the per-barrel price, currently $97.51, could test the December 2008 low of less than $33.

Others aren’t so dramatic but think prices will slide, providing relief at the pump later this year. Reasons include the likelihood of a global economic slowdown — even China is beginning to look winded — sharply higher production in the U.S., a shift to higher-mileage cars and heavy trucks that run on natural gas and even Saudi Arabia’s supposedly selfish reasons to keep on pumping as prices fall. . .


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Submitted Sep 01, 2012 By: MidNJ
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Author Topic: Are oil prices cruising for a bruising? Post a Reply Back to Topics
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andy1024
Champion Author Allentown

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Message Posted: Sep 2, 2012 10:39:31 PM
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Let's hope it will come true.
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DerHahn
Champion Author Illinois

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Message Posted: Sep 2, 2012 10:11:23 AM
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heard this story before. but pump prices keep going up.
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heydano67
Champion Author California

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Message Posted: Sep 2, 2012 4:14:45 AM
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The only thing getting a bruising is my wallet
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MrLefty0706
Champion Author Chicago

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Message Posted: Sep 2, 2012 1:48:49 AM
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I would not bet on this happening!
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52MPG
Champion Author Dayton

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Message Posted: Sep 2, 2012 1:10:43 AM
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The sooner the better.
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leemun
Champion Author Utah

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Message Posted: Sep 1, 2012 6:14:39 PM
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$35 a bbl seems about right to me.
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PDQBlues
Champion Author San Diego

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Message Posted: Sep 1, 2012 2:45:48 PM
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We can hope, before the consumer gets the bruising.
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qwerty17
Champion Author New Jersey

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Message Posted: Sep 1, 2012 12:51:27 PM
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hope they get bruised badly.
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md11capt
Champion Author Denver

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Message Posted: Sep 1, 2012 12:50:13 PM
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Believe it when you see it.
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skinsfan125
Champion Author Virginia

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Message Posted: Sep 1, 2012 11:27:09 AM
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nobody is forcing these commodies traders to stay in the business. If they start loosing money they can get a second or third job like everybody else.
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DanMtz
Champion Author Oakland

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Message Posted: Sep 1, 2012 9:26:54 AM
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If oil went way down, economies everywhere would take off.
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WalRus49
Champion Author Boston

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Message Posted: Sep 1, 2012 7:36:19 AM
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More organized mayhem and pillage................
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DrLyon
Champion Author Michigan

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Message Posted: Sep 1, 2012 7:31:10 AM
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Lets see....
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FPLREP
Champion Author Virginia

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Message Posted: Sep 1, 2012 7:27:13 AM
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Lots of downward pressure starting this week. Driving season is over and the damage from the hurricane was minimal.
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rbrk02
Champion Author Rhode Island

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Message Posted: Sep 1, 2012 7:15:33 AM
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I'll believe it when I see it...
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BBopp
Champion Author Dayton

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Message Posted: Sep 1, 2012 6:46:11 AM
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I can only hope.
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wrunner
Champion Author Virginia

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Message Posted: Sep 1, 2012 6:31:39 AM
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Isn't it already?!
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UseLessGasFolks
Champion Author Iowa

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Message Posted: Sep 1, 2012 4:58:01 AM
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Good news but we all must CONSERVE!!!!
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gmcgas
Champion Author Atlanta

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Message Posted: Sep 1, 2012 1:58:37 AM
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maybe
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kgbellman
Champion Author Ann Arbor

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Message Posted: Sep 1, 2012 1:55:37 AM
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They should after elections
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roadrunnerMO
Champion Author Kansas

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Message Posted: Sep 1, 2012 1:37:22 AM
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Dream on about them dropping... After a change at helm they probably will.
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JohnofGB
Champion Author Flint

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Message Posted: Sep 1, 2012 1:27:38 AM
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Certainly hope so. But , lately, the price of crude has had very little effect on gasoline prices. Different gougers.
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LostToo
Champion Author Illinois

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Message Posted: Sep 1, 2012 1:22:49 AM
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There is always many reasons for gas to go up. Not so many for it to fall. I will wait and see.
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bojiway1
Champion Author Minnesota

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Message Posted: Sep 1, 2012 1:19:55 AM
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Ok
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bojiway1
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Ok
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Cyberkedi
Champion Author Atlanta

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Message Posted: Sep 1, 2012 1:17:59 AM
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I hope so!

Anyway, high prices are better than a gas pinch, like what we had in the Southeast after Gustav and Ike. At least when fuel was a [censored] four bucks a gallon, you could actually buy gas!
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greenfog
Champion Author Illinois

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Message Posted: Sep 1, 2012 1:10:04 AM
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let it go, and maybe a lot of the 1% will loose the ASS!
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Grumpy0521
Champion Author Ontario

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Message Posted: Sep 1, 2012 1:07:54 AM
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Cost of living is going up but our pay is the same. Whoever is responsible, thank you very much.
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carloco75
Champion Author Richmond

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Message Posted: Sep 1, 2012 1:06:41 AM
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Ummmmkay...
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Sep 1, 2012 1:04:54 AM
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Let it crash!! We were at $1.49 a gallon here in Branson, Missouri in 2008!
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yonasb
Champion Author Houston

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Message Posted: Sep 1, 2012 1:03:45 AM
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ok
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Ron77095
Champion Author Houston

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Message Posted: Sep 1, 2012 1:01:50 AM
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Ugh.
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bcok
Champion Author Los Angeles

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Message Posted: Sep 1, 2012 1:01:38 AM
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Let it drop as far as possible.
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GAS1251
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Message Posted: Sep 1, 2012 1:00:20 AM
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Wishful thinking?
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Homerclub
Champion Author Idaho

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Message Posted: Sep 1, 2012 12:59:28 AM
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it can go down after the election , hope it stays up for now
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Bildawg
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RAPE!!!!!!!!
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etothek
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Ok
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pumaMN
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Message Posted: Sep 1, 2012 12:58:15 AM
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ok
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10k
Champion Author North Carolina

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Message Posted: Sep 1, 2012 12:58:14 AM
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what does it matter-the economy has tanked already, so who can buy it ??..
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TBONE3
Champion Author Pennsylvania

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Message Posted: Sep 1, 2012 12:56:53 AM
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Time and world conditions will tell what happens with fuel prices..
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RTBama1
Sophomore Author Montgomery

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Time for this bubble to burst!
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lunarrv15
Champion Author Cincinnati

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Message Posted: Sep 1, 2012 12:55:49 AM
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okay..interesting
thanks for posting
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7SPEEDY7
Champion Author Flint

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Message Posted: Sep 1, 2012 12:54:48 AM
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Yes!
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joel27nc
Champion Author Raleigh

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Message Posted: Sep 1, 2012 12:48:16 AM
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no kidding
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alterman156
Champion Author New York

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Message Posted: Sep 1, 2012 12:46:17 AM
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Another oil "crash" could happen.
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mrbee
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I am ready.
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Kawibiker
Champion Author Illinois

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Yes and soon.. we hope
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MikeCapeCoral
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Bring it on!
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megadiesellv
Champion Author Atlanta

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Message Posted: Sep 1, 2012 12:41:38 AM
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Ok.
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panda317
Champion Author Massachusetts

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Message Posted: Sep 1, 2012 12:41:14 AM
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ok
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