Gasoline could drop 50 cents/gallon by spring

That's my own data.

And keep in mind that Minnesota tends to be on the low end for gas prices. Our oil comes from the north, the gas is taxed less, and it has been an ethanol blend for over a decade.

.

 

If it just goes up another dime here in Sacramento, then it will be up $.50 since Malorn posted the OP. Anyone want to bet it won't happen?

 

This morning on the news they showed that Gas was $4.50 a gal. for premium in SanDiego. I don't know if that guy was just ripping people off but it definatly is no where near $2.00.

 

If they do (want to bet it won't happen), they should go short on gas futures. If anyone does go short on gas futures, be prepared for a miserable experience - nothing like getting a margin call and having your position closed out when you don't put more cash into the account.

 

I don't have that kind money to lose. :loco:

 

It is bizarre - I saw one gas station last Memorial Day that was selling premium for $3.99/gallon and there was one customer filling up. All they had to do was drive 6 blocks and they could have got the exact same gas for something like $3.79/gallon. I guess they couldn't be bothered.

 

And since just about everyone is long on gas futures, with the commission on the trades, you aren't able to make much going long either.

 

Maybe they weren't from the area, and didn't know there was a cheaper station nearby.

The other day I heard on the local news that gas prices in Virginia are $0.85 higher than they were at this time last year.

Gas Prices On The Rise In Virginia|NewsChannel 8

And it's not even Memorial Day yet...

 

The 2008 price increase is just getting started.... It could be even higher than $4.00/gallon for Chevron unleaded regular (87 octane) by the time Memorial Day rolls around. It is already at $3.59 at the Chevron station where I buy my gas.

 

Most gas stations I've seen in the N. Virginia area are between $3.10-$3.16.

 

Petrol fell back about $0.05 to $3.00/gal here in Westminster/Broomfield CO.A few weeks ago it was about $2.70/gal.

 

Was it a Prius? If it was I bet he ran out of fuel and drove into the petrol station on the battery.

 

Short selling and buying on margin are forms of gambling pure and simple. And gambling with money you cannot afford to throw away is always stupid.

20 cents per gallon difference is $2 for ten gallons. For a lot of people, maybe in a hurry to get home, it's not worth the $2 savings if they have to drive 6 blocks through traffic and another 6 blocks back.

I fill up where it's convenient (usually the station closest to my house) without looking at the price. (When the Prius needs fuel, that is. The Xebra "fills up" from the electrical outlet in my garage.)

 

Actually, it was a VW Passat.

 

Which was why I warned to be prepared for a miserable experience.

 

I don't think anyone here is short selling gasoline. Malorn is promising lower gas prices because he needs to try to convince people to buy SUVs. That's his business. But if he was dumb enough to short sell gas, he'd have gone out of business long ago. Maybe we should have a poll asking if anyone is actually going short on gasoline (or crude oil). I predict that nobody is.

 

Its the season to see Chevy Tahoes and Ford Expeditions parked along the side of the road with For Sale signs in the windows. :gossip:

 

I drive up to Anaheim / Disney e/ day for work. Diesel just hit $4.00 gallon, so maybe if it goes up to $4.50 then comes back down to $4.00 by spring, I guess you can say, "yep, it's commin' down"

 

And dealer inventory of full size SUVs is over-flowing.... Wonder why?

 

You can get some great financing deals on those full size SUV's and pickups - around Labor Day for the past two years, Ford has offered 0% for 72 months. But the F150's get 12 mpg city. :twitch: