Experts say gas could fall to $2 byTurkey Day

Gasoline prices could keep falling

Updated 8/30/2006 10:08 AM ET By James R. Healey, USA TODAY

Gasoline prices are falling fast and could keep dropping for months. 'The only place they have to go is down,' says Fred Rozell, gasoline analyst at the Oil Price Information Service (OPIS). 'We'll be closer to $2 than $3 come Thanksgiving.'

Travel organization AAA foresees prices 10 cents a gallon lower by the end of next week. It reported a nationwide average of $2.84 Tuesday, the lowest since April 20.

Behind the current drop:

•The end of summer. Driving slows, reducing demand for gasoline. And federal requirements for clean air, summer-blend gasoline end next month, making gasoline cheaper to refine and import.

•Sluggish demand. Gasoline use in the first eight months of the year is up 1% vs. a year ago, less than the 1.5% to 2% growth that's typical, says Michael Morris, analyst at the U.S. Energy Information Administration. 'Wholesalers are trying to get rid of product. The growth in demand for gasoline has really tapered off,' he says.

Wholesale prices are falling faster than retail gasoline prices, meaning stations are making more money than when prices were $3. Wholesale prices Tuesday ranged from $1.77 to $1.79 a gallon, well below the $2-plus prices typical until recently.

•Petroleum traders, worried that prices are too high to last, are selling their holdings. That pushes prices down. They also believe hurricanes won't disrupt Gulf of Mexico production, OPIS senior analyst Tom Kloza says.

I won't question your fortune-telling about fuel, but question this: 'Speeders (& Drunk Drivers) are MURDERERS '

Please define 'speeders.' also, Do you agree that it is possible for a car / driver not speeding to pass a car / driver that is speeding? also When discussing safety devices on autos, do you include the accelerator? Also, Where did you attend advanced driving school and when? Also, What books on road safety have you written? and which other ones do you have on your bookshelf?

Fan of HCL, Jr

Filled up for $261.9 this morning..

You don't know what a speeder is and you expect me to waste my time explaining it to you? HAHAHA

rofl Sorry, no news here, just more bloviation from oil people.
http://opisnet.com/aboutus.asp

'Our client list is strictly confidential, and includes the top 200 oil companies, thousands of distributors, traders, government and commercial buyers of petroleum products. '

fan of HCL:, Jr.

BS - everybody knows how to drive safely. They drive crazy because it's fun to be a highway terrorist and the penalties for reckless driving are so light. We don't need tests - we need jail time and license suspension for psycho drivers. Stop the coddling and you'll stop the killing.

Ahhh, So what did you say your professional qualifications and experiences are? I seemed to have missed that.