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GasBuddy News Article

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Oil and gas prices look like they’ve peaked

Market Watch -- NEW YORK — Remember just a few short weeks ago, when the media were speculating about how high gasoline prices could go? I know—I wrote a story like that myself.
In early March, gasoline prices hit $3.94 a gallon, and topped the magic $4.00 mark in California and other states. That was based on a jump in Brent crude oil prices to $128 a barrel.

Some of it was due to a growing U.S. economy and some logistical issues. But the main reason was fear of either an Israeli air strike to destroy Iran’s nuclear facilities or Iranian military action to break sanctions from the international community.


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Submitted May 04, 2012 By: fordfreak
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil and gas prices look like they’ve peaked Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: May 8, 2012 4:39:33 AM

I won't hold my breath.
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SavingInNC
Champion Author North Carolina

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Message Posted: May 7, 2012 5:01:32 AM

I hope so
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honda0105
Champion Author Tallahassee

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Message Posted: May 7, 2012 4:46:07 AM

time will tell. I will say that we probably see another hike sooner than later. Unfortunately.
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clermont40miles
Champion Author Cincinnati

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Message Posted: May 6, 2012 8:47:53 PM

Not likely that prices have peaked. Unless election year trumps the speculators.

May 7th the margin requirements are being increased so the speculators do not have the leverage they've had in the past. This has happened before but did not last long. Likely that will again be the case this time around.

We are getting a break so enjoy it.

I'll take high prices if it gets rid of BHO & Co. That is one method of political contribution that is well spent if it works!
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feistyfella
All-Star Author Detroit

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Message Posted: May 5, 2012 4:34:08 PM

Cousin Pooh-key
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snerd
All-Star Author Pennsylvania

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Message Posted: May 5, 2012 3:48:47 PM

They may have peaked, since the economy is in the tank...
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gravityhurts
Champion Author North Carolina

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Message Posted: May 5, 2012 5:34:49 AM

Prices have recently shown signs of retreating here over the last week. But prices are still too high with oil trading for under $100.00.
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52MPG
Champion Author Dayton

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Message Posted: May 5, 2012 4:38:51 AM

Gas just jumped 20 cents. So much for the peaked theory.
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5kvdave
All-Star Author Los Angeles

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Message Posted: May 5, 2012 1:52:22 AM

Ya right
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speedys
Champion Author Utah

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Message Posted: May 5, 2012 12:45:54 AM

I hope they have.
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bvrbill
Champion Author Eugene

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Message Posted: May 4, 2012 11:45:44 PM

I hope he is right. But, I'd not be surprised if prices continue to climb.
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Colts13
Champion Author Indiana

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Message Posted: May 4, 2012 11:34:00 PM

Ok.
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abacus44
Champion Author Toms River

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Message Posted: May 4, 2012 11:31:55 PM

OK
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Buddy2264
Champion Author Tampa

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Message Posted: May 4, 2012 11:29:10 PM

Sure because for now we will not pay the higher prices and they know it. But they tested it and will keep it in the high $3.00 range for now.
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sammy518
Champion Author Austin

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Message Posted: May 4, 2012 11:28:09 PM

sure
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frostyWV
Champion Author West Virginia

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Message Posted: May 4, 2012 11:27:28 PM

good
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DEG
Champion Author Las Vegas

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Message Posted: May 4, 2012 11:25:35 PM

Don't count on it. Memorial Day is just around the corner and prices generally shoot up a couple of weeks before a holiday.
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joel27nc
Champion Author Raleigh

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Message Posted: May 4, 2012 11:25:32 PM

It is one big game.
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yonasb
Champion Author Houston

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Message Posted: May 4, 2012 11:25:07 PM

Good
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WIPACKERFAN
Champion Author Chicago

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Message Posted: May 4, 2012 11:23:54 PM

They are way to high.
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Dodge_Me
Champion Author Atlanta

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Message Posted: May 4, 2012 11:23:14 PM

How can they say that, it will always go up and down
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Gas Thirsty
Champion Author Los Angeles

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Message Posted: May 4, 2012 11:22:51 PM

Peaked? I doubt it. Prices are going back up in So. Cal.
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tedjm1
Champion Author New York

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Message Posted: May 4, 2012 11:20:41 PM

Th US is poised for a recession.
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benjy
Champion Author Chicago

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Message Posted: May 4, 2012 11:20:40 PM

hope so...
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jackson661
Champion Author Columbus

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Message Posted: May 4, 2012 11:19:58 PM

I will take the optimistic view all the time.
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1fulltank
Champion Author Buffalo

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Message Posted: May 4, 2012 11:19:34 PM

Old article.
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Cashless
Champion Author Akron

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Message Posted: May 4, 2012 11:18:29 PM

Let's hope so!
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Godozo
Champion Author Gary

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Message Posted: May 4, 2012 11:17:00 PM

Well, I heard crude prices drop below $100 after a long time over it. I've also watched a full-fledged gas war around $3.60 last for two days (average prices in NW Indiana are around $4.10). And a local Real Estate Saturday Talk Show keeps saying prices are around $.50 above where they should be.

If prices start to drop off despite the switch to Summer Fuel, I'll believe it.
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celtic14
Champion Author Florida

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Message Posted: May 4, 2012 11:16:59 PM

Note the 1st sentence in the article. The lamestream media constitute one of the best contrary indicators in the financial world. They are almost always wrong. Back in 1982 one of the newsmagazines had a cover story titled "The Death of Equities" -- just before a massive bull market commenced. So an article on oil zooming higher actually means "oil has peaked."

When these pundits say a bear market is here to stay, buy with both hands. When they talk up a bull market, sell and get out (or for real profits, go short or buy put options).
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ds531
Champion Author Texas

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Message Posted: May 4, 2012 11:16:06 PM

OK
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Bigwaynef
Champion Author South Carolina

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Message Posted: May 4, 2012 11:15:12 PM

Goes up a whole lot faster than it goes down...
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jdc17327
Champion Author Pennsylvania

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Message Posted: May 4, 2012 11:14:57 PM

okay...great!
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crreed1
Champion Author West Virginia

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Message Posted: May 4, 2012 11:13:53 PM

prices can go back up real fast
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bobdec
Champion Author Miami

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Message Posted: May 4, 2012 11:12:14 PM

Just for now
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chuckwthompson
Champion Author Charlotte

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Message Posted: May 4, 2012 11:11:14 PM

Yeah, right! I only bet on three things...(1) Sunrise. (2) Sunset. (3) And the price of gas will continue to go up!
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Rooster922
Champion Author Wilmington

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Message Posted: May 4, 2012 11:11:12 PM

Good so far.
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Blue48
Champion Author Illinois

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Message Posted: May 4, 2012 11:09:47 PM

DON'T GET TO EXCITED....CERTAIN THINGS CAN STILL HAPPEN
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ChristinaCricke
Champion Author New Jersey

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Message Posted: May 4, 2012 11:09:43 PM

I doubt it.........
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Blue_Cruzer
Champion Author Lexington

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Message Posted: May 4, 2012 11:08:58 PM

Still to high.
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big_mac64
Champion Author Tennessee

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Message Posted: May 4, 2012 11:08:24 PM

that's been the problem all along...speculating!
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radiorumor
Champion Author Texas

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Message Posted: May 4, 2012 11:08:04 PM

Didn’t I hear today that oil is below $100 a barrel? The dropping price at the gas pump is sluggish
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HEBster
Champion Author Kentucky

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Message Posted: May 4, 2012 11:07:26 PM

Dropping but...long way to go & summer' coming!
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us4usa
Champion Author Missouri

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Message Posted: May 4, 2012 11:07:09 PM

Now that we are all happy with these low gas prices???
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miser709
Champion Author Grand Rapids

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Message Posted: May 4, 2012 11:07:07 PM

NOT!
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jem069
Champion Author Detroit

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Message Posted: May 4, 2012 11:05:09 PM

Ok
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TheSicilian
Champion Author Jacksonville

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Message Posted: May 4, 2012 11:04:33 PM

we will see
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regout
Champion Author Quebec

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Message Posted: May 4, 2012 11:03:48 PM

Not sure about that.
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Toppers
Champion Author Atlanta

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Message Posted: May 4, 2012 11:03:41 PM

Dropping in the ATL but still in the mid $3's...
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pastorpaulcg
Champion Author Virginia

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Message Posted: May 4, 2012 11:02:56 PM

Amazing how election nears, gas drops
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knot2swift
Champion Author Calgary

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Message Posted: May 4, 2012 11:00:25 PM

Aren't election years wonderful?

Maybe we should have elections every 2 years. That way we guarantee good government 50% of the time.
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