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Author Topic: Weekly gasoline outlook Back to Topics
PD
Moderator
Message Posted: Dec 20, 2010 12:21:27 PM

Evaluating last week's prediction for this week, I said "By next Monday, I expect the national average in the U.S. to rise to $2.99 while prices in Canada will rise to 110.3c/L." Taking a look this morning, the average is $2.973 for the U.S. and 109.1c/L in Canada. We'll call that a "close" prediction. Looking at things, prices again haven't moved a whole lot in the last week.

To start off this week, we're seeing big gas price increases in Michigan, Ohio, Indiana, and South Dakota. In Ohio and Indiana, prices are rising above $3/gallon for the first time since October 2008, just in time for motorists who are preparing to hit the road for holiday travel.

Wholesale prices this morning have really strengthened and are up...

Visit GasBuddy Blog for full article
REPLIES (newest first) Post a Reply
NawrockiFund
Rookie Author Oklahoma

Posts:1
Points:220
Joined:Oct 2008
Message Posted: Dec 22, 2010 2:12:17 PM

Do not fret my friends. This current run up is driven by pack mentality among trades on a buying spree for investors. They will succeed in seeing the $100 per barrel price tag on the board but then the economic slowing it will cause added to the slowing that has started already will assure oil retreats into the $70 range and by the end of January Gas will be back to an average in the high $2.70 range.
skybiker
Champion Author South Carolina

Posts:9,533
Points:2,284,525
Joined:Jul 2008
Message Posted: Dec 21, 2010 8:41:52 PM

Prices up 4 cents today in SC....
POLELANE
Champion Author Ohio

Posts:7,148
Points:828,370
Joined:Mar 2008
Message Posted: Dec 21, 2010 7:57:55 PM

happy holidays; thanks for your efforts to help us
Pete12
Champion Author Albany

Posts:6,119
Points:2,200,250
Joined:Nov 2005
Message Posted: Dec 21, 2010 7:55:25 PM

This whole thing with the price of gas makes no sense!
honda0105
Champion Author Tallahassee

Posts:24,049
Points:2,388,440
Joined:Nov 2008
Message Posted: Dec 21, 2010 7:59:54 AM

after a day or two of slow drop it's back on the rise here... Hmmmm.. are the holidays approaching fast?!
honda0105
Champion Author Tallahassee

Posts:24,049
Points:2,388,440
Joined:Nov 2008
Message Posted: Dec 21, 2010 7:59:08 AM

Martinman: PD's blogs are never articles. They are just that... blog. Anyone w/out any credentials can publish a blog. An article at least goes though minimal revisions by others in the field (that may be a news editor or a journal peer review).
Martinman
Champion Author Mississippi

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Joined:Sep 2005
Message Posted: Dec 21, 2010 7:31:44 AM

Yet another SPECULATOR article.
TommyTraveler
Champion Author Cincinnati

Posts:11,821
Points:2,446,330
Joined:Nov 2007
Message Posted: Dec 21, 2010 5:35:16 AM

The Gnomes of greed are at work this week. Gas is 3.05 today here in Cincy.
dar 1
Champion Author Michigan

Posts:9,034
Points:598,985
Joined:Jan 2005
Message Posted: Dec 21, 2010 5:29:41 AM

Holiday gas prices up, I am an expert too.
JCUBE
Champion Author Michigan

Posts:11,925
Points:2,680,310
Joined:Aug 2003
Message Posted: Dec 21, 2010 5:28:49 AM

Dorc the Orc and the Greedway greed masters just everyone an early Christmas present..almost a .24/gal rise......The big oil Republipukes have seen to it the prices have skyrocketed since they took office...those bums are going to ruin this country even worse than it is now. Them and their cronies across the aisle have set themselves up good for the next two years.

[Edited by: JCUBE at 12/21/2010 6:29:19 AM EST]
TerryLee
Champion Author Ohio

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Points:2,790,150
Joined:Mar 2004
Message Posted: Dec 21, 2010 5:27:05 AM

Sucks
Ringmaster2008
Champion Author Ontario

Posts:10,565
Points:1,715,035
Joined:Apr 2008
Message Posted: Dec 21, 2010 5:25:19 AM

Raising prices for the holiday travel season is just doing business for the oil companies. Greed at its finest.
rjd1608
Champion Author Toledo

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Joined:Aug 2003
Message Posted: Dec 21, 2010 5:18:07 AM

quit making predictions and maybe they will fall
Redink
Champion Author Indianapolis

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Message Posted: Dec 21, 2010 5:10:39 AM

Expect very high profits for the fourth quarter for oil companies.
DrivingFool2
Champion Author Appleton

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Message Posted: Dec 21, 2010 5:09:46 AM

Hybrid and EV manufacturers are licking their chops
neptune2008
Champion Author Michigan

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Joined:Aug 2008
Message Posted: Dec 21, 2010 5:09:04 AM

just predict that we the people get screwed
jadeusa
Champion Author Dallas

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Message Posted: Dec 21, 2010 5:07:16 AM

Get ready for the horses and buggies (& bikes) to emerge. New business opportunities - fixing bike tire flats, etc.
jadeusa
Champion Author Dallas

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Points:2,589,630
Joined:Sep 2005
Message Posted: Dec 21, 2010 5:07:08 AM

Get ready for the horses and buggies (& bikes) to emerge. New business opportunities - fixing bike tire flats, etc.
BBopp
Champion Author Dayton

Posts:9,720
Points:2,632,025
Joined:Dec 2006
Message Posted: Dec 21, 2010 5:07:07 AM

For the most part in this area gas is going for $3.05/gallon. That's a huge jump from yesterday's prices. This gouging needs to stop.
NJColt
Champion Author New Jersey

Posts:15,685
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Message Posted: Dec 21, 2010 5:06:09 AM

Yup, keep it up... destroy America. Lets dig us into a deeper trench.
vulcan96
Champion Author Ohio

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Message Posted: Dec 21, 2010 5:05:38 AM

i am going to stay home and relax - may even change my mind about electric cars and buy one next year
RocketGeek
Champion Author Grand Rapids

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Message Posted: Dec 21, 2010 5:05:11 AM

So Patrick, how about an article that directs the public on how to let those in the chain of price-setting we won't stand for it?
LeeFree
Champion Author Pittsburgh

Posts:12,353
Points:3,012,800
Joined:Jun 2005
Message Posted: Dec 21, 2010 5:03:25 AM

It's so sad that I brought two 5 gallon jugs with me when I made a business trip to Ohio last week so I could fill them and the car with $2.89/gal gas instead of spending $3.07/gal at home. The savings isn't really that much but somehow I felt like I was getting a bargain.
pitamon
Champion Author Philadelphia

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Message Posted: Dec 21, 2010 5:02:43 AM

When will we see sub $3 gas? Is it a thing of the past? I hope not.
Petrock
Champion Author Lexington

Posts:12,379
Points:3,335,110
Joined:Apr 2005
Message Posted: Dec 21, 2010 4:55:57 AM

Prices are "strengthening" and gaining "traction" at our expense, just for the holidays. But then again, I don't see them dropping back later - at lease not until the economy takes another dive.

I guess this trend may help the new electric cars sell well.
Bill100
Champion Author Grand Rapids

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Message Posted: Dec 21, 2010 4:55:19 AM

I figured you'd be right, PD. I just did not want you to be right this soon.
Crumbfel
Champion Author Virginia

Posts:11,554
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Message Posted: Dec 21, 2010 4:52:04 AM

an early gift to the oil barons and the seculators
INDY51
Champion Author North Carolina

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Message Posted: Dec 21, 2010 4:51:43 AM

IT'S ALL SHAFT THE HOLIDAY TRAVELERS PLAIN AND SIMPLE.
tc316
Champion Author Twin Cities

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Message Posted: Dec 21, 2010 4:47:09 AM

Ho Ho Ho
harleydoctor
Champion Author Kansas

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Message Posted: Dec 21, 2010 4:45:34 AM

Just go ahead and say it we're F''''''d..........
AvantiMick
Champion Author Indiana

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Message Posted: Dec 21, 2010 4:42:37 AM

You're too late!
hybridaholic
Champion Author Appleton

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Message Posted: Dec 21, 2010 4:40:09 AM

When is congress going to get a backbone and do something about speculation in the energy field.
PADI
Champion Author Ontario

Posts:5,144
Points:1,261,870
Joined:Nov 2008
Message Posted: Dec 21, 2010 4:37:28 AM

We are paying almost $5.00 a gallon here in Canada, or $1.13.0 a litre.
twobroke61
Champion Author Michigan

Posts:11,517
Points:2,356,810
Joined:Sep 2008
Message Posted: Dec 21, 2010 4:35:09 AM

we have been above 3.00 a gallon for a month now here in northern MI so they were way off on this one
Cachase1
Champion Author Oklahoma City

Posts:14,708
Points:3,158,660
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Message Posted: Dec 21, 2010 4:30:19 AM

Our prices had stopped rising until last night, when some stations had a 13ยข increase.
epf
Champion Author Grand Rapids

Posts:9,587
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Joined:May 2004
Message Posted: Dec 21, 2010 4:29:53 AM

Unfortunately PD was correct again, another jump here in West MI.
Tru2psu2
Champion Author Winston-Salem

Posts:18,339
Points:2,280,350
Joined:Feb 2004
Message Posted: Dec 21, 2010 4:28:55 AM

Christmas bummer...
Metro Man
Champion Author Flint

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Points:1,199,940
Joined:Sep 2003
Message Posted: Dec 21, 2010 4:24:49 AM

Wow, they were almost able to predict the future.
skippypa
Champion Author Hawaii

Posts:11,733
Points:2,518,280
Joined:Jun 2008
Message Posted: Dec 21, 2010 4:21:31 AM

Consumers should still conserve, conserve, conserve.
vamike
Champion Author Virginia

Posts:8,215
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Joined:Dec 2008
Message Posted: Dec 21, 2010 4:15:06 AM

Every week the outlook should say "prices will go where the speculators want them to go."
fratt
Champion Author Grand Rapids

Posts:13,031
Points:3,420,585
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Message Posted: Dec 21, 2010 4:07:22 AM

Get rid of ALL speculators.
stpetebp
Champion Author Tampa

Posts:7,820
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Message Posted: Dec 21, 2010 4:03:47 AM

Predictions are worthless in this market.
ThatHunt
Champion Author Dallas

Posts:5,839
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Joined:Jul 2006
Message Posted: Dec 21, 2010 4:03:36 AM

the higher they go, the less we use.
JohnofGB
Champion Author Flint

Posts:8,654
Points:1,870,120
Joined:Feb 2010
Message Posted: Dec 21, 2010 4:02:21 AM

Funny that our state , Michigan, seems to be above your quoted national average, constantly.
Tundralimited2009
Champion Author Dallas

Posts:43,535
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Message Posted: Dec 21, 2010 3:41:00 AM

status quo
ED6
Champion Author Riverside

Posts:10,761
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Message Posted: Dec 21, 2010 3:35:05 AM

My prediction; Up and Down.
SteveMartin
Champion Author New Orleans

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Message Posted: Dec 21, 2010 3:34:22 AM

Is it possible that the prices go up on high travel holidays?
Lukus
Champion Author Halifax

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Message Posted: Dec 21, 2010 3:32:48 AM

They are gouging the motorist as much as they can.
Z06KY
Champion Author Louisville

Posts:8,409
Points:1,676,775
Joined:Nov 2010
Message Posted: Dec 21, 2010 3:28:55 AM

I don't travel on holidays.
granitestater
Champion Author New Hampshire

Posts:12,855
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Message Posted: Dec 21, 2010 3:25:49 AM

Don't travel. Mail your Christmas cards!
twaav8r
Veteran Author Virginia

Posts:369
Points:676,320
Joined:Oct 2008
Message Posted: Dec 21, 2010 3:25:07 AM

conserve and save.
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