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Old 04-25-2011, 06:49 PM  
The Amish wolfman...
 
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Terre Haute, Indiana
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Gas prices

I found this graph online and had a question for all of you.

Do you think there will be another dramatic drop like there was in 2008?

Also, what caused such a large drop?
Gas prices-5-year-gas-price-trend.png 

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Old 04-25-2011, 07:30 PM  
Mr. Happy
 
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Montreal, Quebec
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We never saw that kind of drop at the pumps up here. I'm paying 1.44/liter today (multiply by 3.8 and you get 5.47/gallon).

It was 1.35/liter yesterday and will drop to almost that again.
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Old 04-25-2011, 07:31 PM  
mohel
 
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Keizer, OR
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"60 Minutes" attributed it to commodity speculation which has exploded in recent years. They say speculation has prices 30% higher than they should be. This should not be in a speculative commodity market.

The Mideast unrest could easily lead to a huge attack on Israel which we would react to. Speculation plus war would kill us. Our reserves are small.
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Old 04-25-2011, 08:34 PM  
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Sammamish, WA
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I'm expecting it to go up to about $6, then drop back to $4 in the fall, never to go below that again.
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