6 months from now, how much do you think the price of gas will be?
By jakeb1
@jakeb1 (562)
United States
November 22, 2008 3:31pm CST
Like the question says, 6 months from now, how much do you think the price of gas will be a gallon? I remember a couple of years ago when it was about $1.00 a gallon and then it shot up to $4.50 a gallon and now it is falling rapidly to less than $2.00 a gallon in most places. Do you think it will continue to fall or do you think it will begin to go up soon?
2 responses
@dxfanatic69 (378)
• United States
22 Nov 08
Hey Jake,
It really depends on how the market reacts, or doesn't for that matter, to the bank failures, the financial bailouts, the foreclosures, etc.
A lot of times many people, especially "financial advisors," "analysts," etc. cannot even predict the future, namely gas prices.
Back in the summer when gas was $4.00/gallon, many of these people predicted $5/gallon gas by November...and look where we are now:
November, and gas, at least here in Houston, is $1.60/gallon! That's over a 50% drop in prices from only four months ago!
I, personally, (although take it all with grains of salt) think that we'll be in this slump for the first part of 2009, no matter who is in charge.
I would look for gas to drop a little lower, maybe close to $1.25/gallon, as oil barrels dip below $50 for the first time in years.
Another factor in this whole debacle is the demand. Demand is lowering.
We're travelling less more and more each month, says AAA.
And it's basic economics - demand is low, price drops.
If only we could buy gas in bulk, like Houston's bus and rail service does, and basically pay this low price for years!
@jakeb1 (562)
• United States
23 Nov 08
Yes, I remember when the gas was $4.00 a gallon and many experts were saying that it would go up to $5.00 - $10.00 a gallon. They were very wrong. Wow, gas in Houston sure is cheap. Right here, it is still $2.10 a gallon last time I checked. I actually think that gas is going to stabalize around $3.00 a gallon in the next few years even though it might fall even more in the next few months.
@kellys3ps (3723)
• United States
23 Nov 08
I would prefer that it stay low, but I have heard that the prices are going to go back up in January :(
