Gas prices

[Otahyoni]

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?

[RiponredTJ]

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.

[blucher]

"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.

[bisjoe]

I'm expecting it to go up to about $6, then drop back to $4 in the fall, never to go below that again.