when is gas going to be $2.00 per gallon again?

Answer 1

Honestly? probably never again. World consumption far outpaces production (Thanks to China) coupled with production troubles (political and economic instability in producing countries) mean we will be paying higher prices. (Don't forget inflation too).

Answer 2

If u live in California...NEVER...I haven't seen it at 2.00 for a couple of yrs....So it depends where u live if u are ever going to see $2.00 again. But in a few yrs everyone is going to wish it would be $3..apparently in the next couple of yrs, the prices of oil will be going up and they speculate $100 a barrel within 5-8 yrs. Guess how much gas is going to be a gallon? About $5.00 a gallon. I hope u didn't faint.....

Answer 3

Maybe instead of looking for $2.00 per gallon gas, you should be looking for a car that gets 30% better gas mileage, then your gasoline expenses will be the same as if gas really were $2.00. So if you drive a car that gets 15 miles to the gallon now for $3 per gallon, and trade in for a car that gets 20 miles to the gallon at $3 per gallon, it means the distance for example 60 miles that will cost you $12 now will cost you $9 in the new car or an average of $2.25 per gallon on your current car.

Actually gas prices are about supply and demand. OPEC is a toothless organization now because there are no production controls. They're pumping as hard as they can and they still can't meet demand so every hiccup that could affect supply such as geopolitical tensions, storms and increasing demand from China and India especially tends to drive up the price of oil, a traded commodity, that accounts for 73% of the price of a gallon of gasoline. Then factor in the fact that a new refinery hasn't been built in the US in over 25 years coupled with the fact that there are individualized gasoline formulas for many states and those formulas have to change from winter to summer meaning if gas is scarce in one state, it can't simply be shipped in from another with a large supply and you get higher prices. Also factor in all the gasoline taxes that were heaped on in the 90's when gas was cheap and no one noticed. This year is particularly shaky because of a federal mandate to switch from the additive MBTE which was found to contaminate ground water to Ethanol which didn't yet have production up to speed at the very start of the summer causing a delay.

The short answer is that high demand and limited production capacity means that prices are likely to stay put for a while at best. The long answer is that as new refineries are built and new sources of oil are discovered, things may ease somewhat. New technologies and higher prices are making things like oil shale recovery which didn't economically make sense at $20 per barrel suddenly makes a lot of sense where we are now due to the expense of extracting the oil from it. Ultimately, the best way for the price of a gallon of gasoline to go down is to reduce demand for it. It's simple. Demand goes down, supply goes up and prices ease. It's basic market economics. If we as a society stop being selfish, stop driving SUV's for one person that get 6 miles to the gallon and start being responsible, I am confident that gasoline prices will ease. The added benefit as I mentioned at the beginning is that you'll already be getting better mileage from a better car so as prices ease, you'll be saving even more money.

Answer 4

Sorry TW but gas prices will never be that low again. It is the simple concept of supply and demand. Petroleum is a finite resource, meaning that there isn't an infinite amount. So when we can't curve our consumption and supply slowly diminishes oil companies realize that they can make a profit. Since we live in a capitalistic society they want to make as much money as possible as quick as possible. The only way for us as consumers to fight big oil companies is to stop buying there products. If we can curve our consumption they will begin to seek new energy sources like that of corn ethanol at which point our energy costs will be eased. But if you want a temporary solution, but stock in oil companies, their huge profits and dividends will help give you a little additional income to help you pay for your gasoline at three dollars a gallon.

Answer 5

Power cost to go down
as gas prices go higher

The bad news came from the gasoline pumps, which reminded Filipinos that they were still very much dependent on foreign oil companies as small petroleum players, following the latest price increases made by the dominant oil industry players, once more increased their product prices by an average of P0.50 a liter.

Total Philippines Inc., the fourth biggest oil player in the country, increased the price of its diesel, gasoline and kerosene products by P0.50 a liter effective 6 a.m. yesterday.

Unioil made the same price increase also effective at 6 a.m.

The oil price hike came a day after the country’s biggest players, Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Philippines (formerly Caltex), increased the prices of their petroleum products by P0.50 a liter.

This is the first time in three weeks that the oil companies increased the prices of diesel, which is considered the most socially sensitive petroleum product because most public utility vehicles use it.

The three companies, however, continue to give diesel discounts to public utility jeepneys to cushion the impact of the volatile oil price on the public transport sector.

Local oil companies, meantime did not increase the price of liquefied petroleum gas (LPG) or cooking gas to reflect the stabilizing contract price for the commodity. This month the contract price for LPG stayed at $470 for every metric ton.

Monitoring by the Department of Energy showed that prices of oil products at different benchmark markets are easing but that the latest price hike was a move to recover the oil companies’ higher costs in the previous month.

Dubai crude, a benchmark for local refiners, dipped to $64.42 a barrel, lower than the May average rate of about $65 a barrel.

Unleaded gasoline at the Mean of Platts Singapore (MOPS) meantime averaged $82.30 on June 8, lower than the May average of $86.80.

MOPS diesel also decreased to $86.82 from $87.53 in May.

Therefore, I dont see them coming down ANYTIME soon.

Answer 6

that's a good question.

i believe it will go down again, but probably not in the near future. with the economic and political situation we are currently facing, it's probable that the gas prices will stay high for at least a while. the US is too heavily dependent on oil... although renewable energy sources are slowly creeping up here and there, i believe it's going to take a good while before it starts producing any downward movements in oil prices.

Answer 7

I don't think it will happen. Gas is not that expensive once you adjust teh price for inflation. If I remember, we paid 79 cents/gal in 1978. I don't think $2.85 is a big deal considering what things cost back then and now.

Answer 8

That's so sad. All we want is $2 gas. Not $0.99 gas or even $1.50 gas. They are training us to forget those day and to beg for just mildly overly inflated gas prices. The government has plotted this all out. Bush and his oil refining buddies are never planning on letting gas go back down. Thanks all you losers who voted for him. Hope u can afford it cause I can't.

Answer 9

Remember when they were about $1.50? Used to take $15 to fill up my Civic. Part of me believes prices will never go down as low as we want them to, but let's remember that this isn't America's first time struggling with gas prices. Let's cross our fingers.

Answer 10

When you can buy the knock off at a discount gas chain and can be manufacture it in some horrible sweat shops.

Answer 11

Only when gasoline is not the predominant fuel any more and other, more renewable fuel sources are made easily available, thereby FORCING the oil companies to lower their prices to stay competitive.