Forum Discussion
23 Replies
- silversandExplorerAbsolutely no one can predict where crude oil prices will be 2 months, 6 months 2 years, 10 years, or in 50 years. NO ONE. There are literally many dozens of factors that affect oil, gas, gasoline and liquid gas prices, including something called "perception". How do you quantify something like perception? Global mood? Instability? You cant. This goes for any commodity, including gold.
Currently, "...US natural gas prices are at record lows–about where they were in 1976, and at the low points in the 1990s, in today’s dollars...". The demand for fracked gas is also negatively affected; it is at an all time low.
Gasoline is so far down the feeding chain from crude oil, anyone who predicts its price in any given market beyond just a few weeks (analyze the NYMEX exchange RBOB and reformulated regular futures) is gambling.
Its going to go where its going to go (gasoline RBOB), so as the above Poster does, plan for $5 a gallon, and if it drops to $3 or even $2.50, great (thank your lucky stars).
S- - tsetsafExplorer IIIYou do note in the article the mention that refineries are at capacity? Oil prices will not and can not drop below about $75 per barrel. Below that number and all of the US based oil production from sands and shale will no longer be profitable. We will not see fuel prices below $3 per gallon in any reasonable time frame. As for us we budget for $5 per gallon and are happy with anything less
- Francesca_KnowlExplorer
My Magic Eightball wrote:
Prices at the pump will be slashed, bringing relief to the long-suffering consumer.
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