How much do you think gasoline will cost at the pump at the end of 2008? Why?

Question

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Answer 1

$ 4 + a gallon

Answer 2

$4

Answer 3

I believe the question is simply a matter of trend and what the public CAN pay. It's been my opinion, especially with commodities, that prices always go up. They might have short term corrections, but that is all that they are, corrections. I don't think it's outlandish to say prices might hit the high fours or maybe even five dollars a gallon. When you have a high number of speculators, increased demand, weak dollar, OPEC not raising production, lower refining capacity, terrorist premiums being factored into the price, and just overall instability in the market, the trend is going to be high price gas. Unless one can realistically see these factors diminishing in the short term, there is no reason to believe gas prices will go down. Either that or between now and then car companies release purely hydrogen or non-gasoline based cars. Yeah right. Dollars speak louder than words.

Answer 4

I would say it will be 25-50 cents lower than it is right now unless gas taxes are raised again. The biggest threats to gas prices are all the talk of carbon taxes, ethanol and its substitutes, and an increase in private car ownership in China and India. But, I do not expect any US carbon taxes during an election year (or Kyoto agreements). World reserves of profitable oil sources is actually expanding at a historic pace. Iraq should start to settle a bit and we should then see some stabilizing of prices from there. Plus, if the dollar strengthens a bit, that will help. Lastly we are at a price per barrel where it is profitable to expand mining oil shale rock (of which the US has a 3,000 year supply at current US oil use rates), so we have seen the peek of oil prices baring additional taxes (or a war with Iran), and prices will probably fall a bit thanks to greater access to supplies. Oil shale is expensive and cars are being sold really fast in China so prices wont fall far from here though...25 to 50 cents down!

Answer 5

Since supply and demand control the price of gas, along with greedy retailers, my best answer for the price of gas at the end of 2008 would be in question to a group decision if we as consumers start practicing more conservative ways to save fuel consumption. The more demand we practice leads to higher prices. If we start now. we may be looking at the same price or lower by the end of next year. If we all contribute it will make a difference. Carpooling, checking tire pressures, changing air filters every three months, are among a few or taking public transportation. Me myself save by driving a 1982 datsun with a 2.2 dual ignition straight drive 5 speed, 35mpg, No power brakes,AC, or power steering,but a job to drive as well. Choosing a vehicle to save gas is important too! If we buy gas guzzlers we provide a never increasing demand that grows when we populate the streets. If we as consumers Think about what we really need instead of what we want, we could as a group make a difference. As for all of us we Need lower gas cost to help our budgets, Am I right? My Big question is : how can we get this new fuel on the market so we don't depend on fossil fuels? You know about the fuel from corn, barley, rice,etc? All in all though I believe it to be at least 3.65 this time next year for regular gas if we dont change our driving habits and choices.

Answer 6

I would guess right around the $3.25 mark. Depends on the middle east situation. You know all they have to do is mention it in the news and the price jumps. Then people conserve and the price drops some what. Not sure why the government is waiting so long to enforce higher mpg on new vehicles, but it is long over due. These tiny cars to achieve the mpg is not right either. The people that buy these still drive them wide open and that doesn't save anything. Some common sense from all -drivers, truckers, oil companies and car manufacturers would help tremendously.

Answer 7

I fully expect it to hit 4 plus dollars a gallon by the end of 2008 and then retreat some (not much) to avoid the furor and public outrage and to forestall too much government investigation's of price gouging. Big Oil wants 4 to 5 dollar a gallon gasoline and they are going to get it. No matter what it cost the American people.

Answer 8

I think it will be sub $4.

I find the answers that cite increased fuel economy/more hybrid vehicles as a reason we won't have as high a demand amusing. We are talking about the end of 2008...which is in roughly 390 days. Unless auto manufacturers find a way to design, market, and build all these hybrid vehicles and sell them (at a profit) for about 2/3 the cost of current comparable vehicles, there is no way enough will be sold in the next 390 days to have any significant impact on demand.

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Answer 9

Predictions can often be difficult in a world where there are so many factors that decide on their outcome. However, My guess would be that we will see Gas at or around 3.90 per gallon and diesel probably well over 4.00. This will, of course depend on: what types of things transpire in the middle east, How our own refineries and oil rigs may be affected by summer Hurricanes, and, of course, how much we consume between now and that time. Unfortunately, the "snowball" effect of these rising prices affects everything in our daily lives, right down to the food we eat. Oil affects everything. Diesel is needed in the trucks that put the food on our store shelves, thereby causing those "store-bought" items to rise in price as well. We have done it to ourselves in our "need for oil", and it is up to us to reverse the situation and send the "snowball" back up the hill.

Answer 10

By the end of 2008 gas will be at $4.00 US dollars per gal.
Because the mid-east nations will eventually bind together against the US/other infidel nations and continue to increase the cost of a barrel of oil. The Muslim/Islam nations want the US/infidel nations to be destroyed. This is a sure way to reach their goal. The US has to mandate that the US auto industry produce better gas mileage cars. Gas/electric industries must find other sources of power for the consumer.

Answer 11

I believe that gasoline will be over $4.00 per gallon by the end of 2008. Because we do not have the refining capacity to handle the demand for oil that we now have and also because of the ever increasing demand for oil from countries like India and China. With increased demand the price of oil rises.