Eric, traditionally, gasoline prices tend to fall after the 4th. of July and stay there til around Christmas. This time around, tough, I dont think prices will fall that much. Gasoline futures are around $145 per barrel of light crude for the first time. And it seems to going to stay that way for the next couple of months.
So six dollar gallons of gasoline in the US would not be too far fetched within a year to 18 months time. The EU is already paying the equivalent of a little more than 11 dollars for an Imperial Gallon (my friends in Scotland, England and Germany all tell me so).
Enjoy "cheap" gas while you can, kiddies! Me? I gas up in Baja at a steady $3.65 bucks a gallon of Premium grade (91 octane) gas. 87-octane is $3.10 a gallon. And this gas is actually shipped from US refineries to Mexico (crude is mexican light crude, sent to US refineries. Processed there and half of the gasoline by products are sent back to Mexico's northern border areas).
Sorry.
Quote:
Originally Posted by Eric
2010?
My companies analysts are predicting $4.75 by the end of this year, so we'll probably see $5.50 sometime mid way through next year
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