Tags: summer | gas | prices | dropping

Analysts: $3 Gas By Fall

Friday, 22 Jun 2012 11:12 AM

By Michelle Lopata

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
After months of skyrocketing gas prices and reports that summer prices would hit the $5 mark, it seems as though gas prices may finally drop to $3 by fall, USA Today reports.

With oil production up, inventories at 21-year highs, and tepid consumer demand, not to mention the European recession, gas prices have noticeably fallen over the past 11 weeks, USA Today reports.

“The market is suggesting gas below $3 by Halloween, and certainly by Thanksgiving,” says Tom Kloza of the Oil Price Information Service.

However, with warmer weather and more vacation time, summer brings a new set of factors into the mix that need to be considered, such as hurricanes. Gas prices soared to an all-time high of $4.11 in July 2008 as a direct result of that year’s hurricane season.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Scientists Warn Florida Governor of Threat From Climate Change

Tuesday, 19 Aug 2014 20:06 PM

Five climate scientists warned Florida Governor Rick Scott in a meeting on Tuesday that a steadily rising ocean was a ma . . .

Kareem Abdul-Jabbar: Ferguson Protests Are About Class, Not Race

Tuesday, 19 Aug 2014 19:26 PM

The unrest in Ferguson, Missouri, is not about racism but about class warfare and how poor people are not advancing in A . . .

Rep. Paul Ryan: GOP Must Learn From Mistakes in War on Poverty

Tuesday, 19 Aug 2014 17:46 PM

Republicans often aren't taken seriously in their effort to alleviate poverty, Rep. Paul Ryan admits, and he suggested t . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved