Featured Gasoline to hit the "Tipping Point?"

i think they say that every winter. prices have been dropping for the last 6 weeks here in florida. it will be interesting to see. $2.38 today.

 

What will speculators think up tomorrow...?

Wait and see

 

price of a barrel dropped today...

 

....which reminds me, I missed by prediction again for $1 gas last month...dang it, but try again for next February I guess.

I do not know why these folks bother predicting when there is no trend right now last couple years. I believe price is higher than it should be now due to speculation that it should be higher...but future is not so bright for oil right now (if bright future means higher value per barrel)

 

I heard on the news that since Winter gas is still available, gas prices will remain somewhat steady to use up stock, but when Summer gas starts pumping, the prices will go up. Electricity prices have been remaining steady.

 

Good read?
U.S. Oil Producers Projected To Eat OPEC’s Lunch – R-Squared Energy

"Conclusions
In any case, it seems likely that U.S. tight oil production will continue to grow for the foreseeable future. That presents both risks and opportunities. There is little doubt that many financially disciplined oil companies and oilfield services companies will profit from this growth.

The risk, of course, is that such strong production growth leaves little room for other producers around the globe to increase production. This potentially puts OPEC in an awkward spot — one that could eventually lead to another price war."

I am predicting the price war, but so far has not materialzed.

 

Dang.... I saw my SD Shell station with $3.69 today. Can't wait for electric company to give me go ahead to turn on solar panels, after passing inspection today... to fuel up.

 

i have been predicting a rise with the strong world economy, so far nothing.

 

$2.249 yesterday at a Shell station near here. $2.279 at other stations. Been dropping over the last 6-8 weeks.

 

Prices are already creeping up here in MN.

This is an interesting site : AAA Gas Prices

I guarantee that when it hits $3....the usual contingent will start screaming about it around these parts! Especially those who spend $50K+ on their truck or other inefficient vehicle. And I'm seeing a LOT of expensive trucks around here these days!

 

OPEC would win a price war; it is just cheaper for Saudi Arabia to get their crude out of the ground.
In addition to the increased costs of fracking to release our tight oil reserves, the production per well has been dropping. Yes, overall production is up, but that is because the oil companies are putting in more and more wells.

 

Ya..fracking is a freaking mess and is not ultimately sustainable. Takes tremendous resources to get the oil out of the ground. We have family in Western North Dakota and it is pretty much a disaster area there in some places. Pretty dang sad....

 

Saudi Arabia needs higher prices for the Aramco IPO. Too much oil on the market and they can't get their valuation. There just isn't enough discipline in the industry.

wjtracy, the way XOM dropped you'd think the stuff is being given away. My "predictions" haven't been any better as I over estimated the support level.

 

up 10 cents here today.

 

I am out of the good graces of the oil companies anymore, I haven't used a tank of gas in a month all winter.