Wednesday, August 30, 2006

Gas may be headed back near $2

Hmmm...sounds great isnt it???

Industry analysts see prices between $2 and $2.50 by Thanksgiving 2006!
The recent drop in prices at the pump could pick up steam, driving gasoline sharply lower in coming months.

So far the average cost of a gallon of gas peaked this year at $3.036 on Aug. 10 and has come down largely due to diminishing hurricane fears.

Rretail gasoline prices of around $2 a gallon by Thanksgiving were certainly possible, although not likely since crude prices would need to drop by about $20 a barrel to have that effect

The price of gasoline's main component, crude oil, has also been falling in recent days. Crude oil, accounting for about half the price of gasoline, closed below $70 a barrel Tuesday for the first time since June-20-2006

No comments: