2006-09-01 01:24:43 · 10 answers · asked by Justanian 1 in Business & Finance ➔ Investing
They may in the short term drop some more. I notice that several responders mentioned that it is expected that gas will drop to $2.00 a gallon by November. You will notice that November is election time. If oil prices should drop that low by then it will be a good time to stock up on more oil stocks. Long term oil will continue to rise. The supply is not there but there is plenty of demand and it is rising.
2006-09-01 02:53:17 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Why is "prices" capitalized? What does "coming down since some days" mean?
As the "easy to extract" oil has been pretty much depleted, crude oil prices are only going to rise in the future. As oil is a finite resource (takes millions of years to be produced naturally), prices are definitely never going to go down.
Oh, and a plausible (at least in my opinion) reason as to why the US gas prices fluctuate so wildly, it probably has to do with gas being so cheap when compared to the rest of the world. In other words, the oil companies are making big money everywhere except for the US, so they have to maintain tight control on prices in the US. They most likely are raking in the cash in the other regions of the world, so rises in crude oil prices don't affect these other markets as much.
2006-09-01 01:51:26 · answer #2 · answered by Erdrick 2 · 0⤊ 0⤋
It's not the crude oil prices that are going down, but gasoline prices. Oil is at about $70 a barrel. The reason the price of gasoline is going down has to do with supply--the gas companies figured in hurricanes that haven't happened, and with estimates of hurricanes decreased, they can lower prices since they have so much gas.
2006-09-01 01:32:14 · answer #3 · answered by hawley5150 3 · 0⤊ 0⤋
It will go down for sure as of now.
But keep an eye on the Iran issue and the Mexican gulf. They can take the price anytime to all time highs
2006-09-01 01:33:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋
We are approaching mid term elections. Some of this lower price is being manipulated by or friendly federal government to cool people off.
There are other supply and demand issues as well.
2006-09-01 01:29:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes. No one knows for sure how far prices will drop. If it gets down to $40 per barrel before the start of heating season (December) it will not surprise me.
2006-09-01 01:28:22 · answer #6 · answered by regerugged 7 · 0⤊ 0⤋
I saw on the news last night that by November gas could drop to as low as $2.00 a gallon. I will believe it when I see it though.
2006-09-01 01:31:51 · answer #7 · answered by Motorpsycho 4 · 0⤊ 0⤋
The news reported that we will see $2 a gallon by thnksgiving
2006-09-01 01:30:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes, it is involves Demand/Supply. political stability, mid-term election through presidential election, and a really quiet hurricane season half-way over
2006-09-01 05:27:45 · answer #9 · answered by Hoa N 6 · 0⤊ 0⤋
Nope they are back up .79
2006-09-01 01:30:11 · answer #10 · answered by Sandra 4 · 0⤊ 0⤋