I know I was wrong on my gas price prediction(or maybe just early?) and am taking my medicine if you notice my avatar. What do you think the price of gasoline will be on January 1, 2009? And why? I will use the AAA average. Today it is $3.787. (I have not created a poll for awhile so hopefullly this will work.) Link to price: http://www.fuelgaugereport.com/index.asp
The real question is what will the oil futures price be--since daily gas prices are indexed to the oil futures price the previous day--and have been for several years. Just check your local gas station. If the stock market is up Jan 1, the oil futures price will be up. That's a buy signal. If the market is still languishing, the oil price will be about where it is now--except for the caveat below. If Obama restores regulations on buying oil futures when he takes office Jan. 20, in order to take the volatility out of gas prices, just the anticipation of that happening would skyrocket oil futures prices on Jan 1st. Investors' last chance to buy oil futures without having to buy oil.
$1.79 here today. Seems to be dropping about 10 cents per week lately. I don't think it'll go much lower. But I think that barring anything really unforseen, some new Middle-East war or similar supply-side catastrophe, we're not going to see prices go back up for at least six months or more. You can bet that they'll figure out a way to jack 'em before Memorial Day, however.
I guessed $2.00 - $2.50 based on what I saw as an annual trend on GasBuddy.com. Every fall, prices drop, then hover during Nov-Dec and then a minor increase into January. At least, that's the way I read it. So $2.10 it is for me.
I guess it depends on how badly the Global Economy goes for a s**. If we head into a severe global depression, I predict $0.42 a U.S. gallon. I also predict 48% unemployment and internecine warfare as towns and cities fight over food
$1.65 here and I'm loving it! $18.50 to fill up the S10 ZR2 and $30.00 to fill up the Silverado. I need my Buddy Malorn to come in here and celebrate that we were the only two guys who were right about gas prices plummeting at year end.
So you two predicted the collapse of the entire Mortgage industry, and the resultant global collapse of the credit market? Did you also predict the global recession? There was a Conservative commentator on Headline News who sounded the warning almost a year ago. Seems I recall he was labeled a nut, racist, ignorant, etc, because he was directly calling into question Easy Credit and the easy lifestyle that went with it. He's no longer with Headline News, I think he pissed off too many people with his urgent tone on the economy, oil imports, etc One thing with the collapsing oil prices, is that any discussion of oil independence has fallen right off the table. We're already seeing layoffs and dramatic curtailment of the expensive tar sands development here. There are oil wells in Saskatchewan and Manitoba that were slightly profitable with oil >$80, they are again capped So short term, some folks can drive gas guzzlers again and laugh. Assuming they still have jobs to pay for the truck and the fuel, maybe they've become drug dealers, who knows. Long term, the US will import far more of that "cheap" oil, so the next time it goes up - and it will go up - we'll get caught in the same crunch Why can't people learn from history? Seems every 10-15 years we go through this bulls***, and the sheep just go baaa and forget about it
My opinion on the future of gas prices is not to be relied upon, based on vehicle choice and fuel price timing, anyways ! ....after all, I ordered and took delivery of a 1996 VW Passat TDI wagon (37/45 epa mpg), when diesel was around a buck a gallon, and the most popular rides were getting maybe 15 mpg average... So, of course, now that gas is below $1.80 here in my commute area, I bought a 2009 prius..... Guess my opinion is, whatever the fuel prices are, I want to spend the least amount every time I have to fill up (!)...
Jayman you can look at my posts I was saying we were already in a recession a year ago and that the real estate market was only going to get worse. I did not realize the extent of the mortgage bubble or how deep this recession would get. I think gas may get under $1.00 gallon in the next 6 months if things don't improve in the next 1-2 months. We are teetering on the edge of oblivion. I don't think Bush is going to give Detroit the loans, the R's are intent on breaking hte union. The southern R's want to protect their transplants form union organizing. If they only knew the fire they are playing with. I will predict right now that 5 years from now the number of translant auto jobs will be less than half of what they are now. A chunk of the transplants may never open up again once the parts supply chain is destroyed and those that do will source far more of the parts from the home countries where they have control. Bush and co are coated in gasoline and playing "keep away: in front of roaring bonfire. This is unbelievable, I guess based on the reast of the economic decsions of the US over the last 40 years it was somewhat predictable. i had a discussion with some public employees last night and they were clueless. When the hammer hits them and their jobs are gone or their wages frozen and their pensions have disappeared then they will understand.
Did you notice how even *mention* of the "R" word was kept quiet until the last possible moment? I still recall a certain kooky right-wing commentator over at Headline News, who recently left Headline News, sounding the alarm. Seems I recall he was labeled a nut, a racist, "fear monger" etc etc etc So how come when you tell people what they *need* to hear, you're a nut? If you're just another Talking Head blabbering soothing murmurs so the sheep don't baaa, you're dong a good job? I think the one thing that caught both of us with our briefs around our ankles, was the depth and extent of outright criminal CORRUPTION that has infiltrated our banking, regulatory, private, and public sectors. I mean, they no longer even pretend to try to hide it Oh hell yes, entirely possible. Consider the latest OPEC cut and oil going down again. That sort of indicates the depth of the recession we're entering I'm not going to suggest anybody jump off a tall building without a parachute, but I do think we're in for a tough haul I think that's part of it. Consider that Obama is already throwing out figures involving the "T" word. That's scary too. Our currency is going to become so worthless, it will make the routine banking failures in South American countries look tame by comparison Yeah, both Canada and the US will look far different in five years time. I predict a strong backlash against "visible" immigrants, hate crimes, etc etc Well, the giant boulder was set rolling down the hill around 40-50 years ago. It took a long time to build up momentum, but it will be damn near impossible to stop it now. Yes, I believe that. I still have a fair number of government contracts, it's down right scary how clueless the rank and file Public Sector employee is
2009 is going to be one hell of a ride, that's for sure. No matter what the gas prices are going to be.
It won't be a very fun ride at all. Make sure your tray tables closed, your seats in the upright position, seatbelts firmly fastened And keep that barf bag within easy reach
