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Redneck Rev

How long will be it before the gas prices rise again?

I noticed that the gas prices are going lower and lower. Is it going to keep going down or will gas go back up? And what is causing them to lower gas prices?

Supply and demand. People are buying less which brings the price down. People are not spending money like they were 2 years ago. They are not driving as many places, and they are tightening up their budgets to make ends meet because of variable interest rates and inflation and job losses. The economy is tanking, and people just can't afford to buy gas right now which in turn leaves allot of gas to sell. This is what drives down the cost of fuel. When the economy strengthens again and people start driving more, There will be less gas to go around and the price will go back up.

Redneck Rev:

Thanks for your answer!!


I read an article on MSN about OPEC getting ready for a war of oil prices,
seems as they spent their money as fast as it came in and now they no longer can afford the life style they are accustomed to, and they want it back so it looks like the price may continue to drop a whole lot more before it goes back up.

Literally Speaking ™:

That's what they get for building a snow ski resort in the middle of the dessert. ROFL

Literally Speaking ™:

There are a few reasons, supply is exceeding demand due to the economy.

The U.S. has re-instated off shore drilling in areas that were previously banned by tree huggers and dem/liberals that are now out of jobs because of the faltering economy so now they want to drill for cheaper fuel.

Opec don't have a thing to do with it because they cut production of oil due to the cost drop and it still keeps dropping due to the world economy.

Vicious circle actually, and I predict we will see gas drop to less than a dollar a gallon in our area in less than 2 months. currently at $1.65/gal reg.

Also once they start drilling ANWR and we start pumping out more oil than the middle east, prices will go down even more before they level off, it's all part of a plan to reduce our dependancy on foriegn oil that everyone keeps screaming for.

Why buy foriegn oil when we have MORE oil than they do?

Redneck Rev:

Thanks for your answer. It sure would be nice if they kept it down but I know that won't happen!!


YES YES YES right on Literally, I could not agree more.


I agree too, except you can't say OPEC has nothing to do with it. Right now, they are the trigger men until the US puts on its own oil drilling shoes. We are OPEC's puppets. They say jump, and we say, "How high"?


Oh yes, they will go back up as soon as OPEC flips the switch and slows down production. Right now, they have a surplus of barreled oil they are trying to sell. Because the world's economy has slowed down people haven't been buying gasoline as before, and that's the reason for the surplus. At least that's the part I know. There's probably a lot more to it.

Redneck Rev:

Nooooo!! I was beginning to enjoy it. Yeah I figured eventually they will rise again. I'll just have to enjoy it while it last!! Thanks!


Don't know but I do wonder how low they'll go. if they go to just north of a dollar and hold we might recover some of what we lost when it was headed toward five dollars.


As soon as the world economy..mainly us, begin consuming different products again and China fires back up. Consumption in China and India a few years ago were gobbling up a good share of the worlds cement, steel, and crude. If and when this happens again our fuel costs will rise. As long as the eco terrorists do not allow drilling for our available oil, there will be no leverage against the demand.

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