Gas price future outlooks mixed

Industry experts are saying there's no reason to think that oil prices can't dip below 100 dollars a barrel and the price of gas, which is at its lowest point since May, can continue to drop in price. However, even with this in mind in the face of a fledgling economy, futures of oil and therefore gas prices are pretty mixed.

Some suggested it was the start of a collapse in energy prices, while others saw indications that the mild relief would be short-lived. If the country can get by the tumultuous hurricane season without significant damage from them, the trend could continue to go down in terms of prices across the board. However, the refineries have cut down their production of oil in the face of lower demand because motorists just haven't been driving as much, and if something would in fact happen in terms of tropical storms, the demand and prices could sky rocket again.

Why are we doing this? Why are we once again tempting fate? Despite record windfall profits by oil companies, they are cutting back on supply in the face of demand instead of in fact, bolstering that supply and therefore assist everyone in the cause. I guess I am just a fool for thinking that these industry tycoons have a bone of benevolence in them. Not going to happen, is it? *Sigh*

( Add your comments )

Recent Entries:
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car
· Could DeLorean save the Pontiac Solstice?

[ READER COMMENTS ]

Gas price future outlooks mixed

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.