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Gas price likely won't set record this summer

Philly.com -- NEW YORK - Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.

The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an initial estimate of $3.95 and below 2008's record average of $3.80.

The Energy Information Administration's revised forecast is encouraging news for the economy. Some economists blame high pump prices for so-so consumer spending this year. They were also seen as a factor in the loss of 35,000 retail jobs in February and March.

Gasoline prices soared 20 percent from January to early April.

A few analysts warned drivers they could pay as much as $5 this summer, eclipsing the 2008 record of $4.11 per gallon.

Not anymore. The price of ben

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Submitted May 09, 2012 By: Cakes77

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GigHarborHound Champion Author Tacoma Posts:2,542 Points:489,465 Joined:Sep 2011	Message Posted: May 10, 2012 12:02:00 AM Ignore GigHarborHound Report Abuse Break my heart!!!
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: May 10, 2012 12:01:49 AM Ignore abacus44 Report Abuse Dream on!
Rageagainsttm Champion Author Tampa Posts:8,313 Points:1,904,930 Joined:Jul 2007	Message Posted: May 9, 2012 11:56:21 PM Ignore Rageagainsttm Report Abuse need to set record low price
wz Champion Author Twin Cities Posts:2,499 Points:1,279,265 Joined:Feb 2009	Message Posted: May 9, 2012 11:55:34 PM Ignore wz Report Abuse After the European elections (a socialist sweep), prices are again trending downward. That is driven by the expectation of lower job growth (or more job losses) in a socialist economy as Europe continues its road to ruin.
Rageagainsttm Champion Author Tampa Posts:8,313 Points:1,904,930 Joined:Jul 2007	Message Posted: May 9, 2012 11:55:32 PM Ignore Rageagainsttm Report Abuse too bad
Garyallman Veteran Author Honolulu Posts:308 Points:6,705 Joined:Apr 2012	Message Posted: May 9, 2012 11:54:03 PM Ignore Garyallman Report Abuse No company backs away from making a killer profit, it's not over yet! They just want you to think things are better, they want you to park the Prius and jump back into the V8 sports car, that's when they will whack us all again!
RBob Champion Author Portland Posts:3,379 Points:2,349,600 Joined:May 2004	Message Posted: May 9, 2012 11:53:25 PM Ignore RBob Report Abuse I will believe it when I see it. The barons and speculators will do almost anything to make a few extra billion to line their pockets and fund the super PACs.
Thomtec Champion Author Nashville Posts:2,475 Points:610,095 Joined:May 2011	Message Posted: May 9, 2012 11:51:45 PM Ignore Thomtec Report Abuse We will see. No one can predict any of this pricing.
Garyallman Veteran Author Honolulu Posts:308 Points:6,705 Joined:Apr 2012	Message Posted: May 9, 2012 11:50:43 PM Ignore Garyallman Report Abuse Now is the time to preload your gears and set your backlash, cause of you think a lion stops attacking after tasting blood, you will be sadly mistaken. They made a killing once, they'll do it again.
10k Champion Author North Carolina Posts:21,269 Points:2,255,970 Joined:May 2006	Message Posted: May 9, 2012 11:46:36 PM Ignore 10k Report Abuse and we are supposed to believe anything the EIA says ??..
joel27nc Champion Author Raleigh Posts:10,547 Points:1,860,320 Joined:Mar 2008	Message Posted: May 9, 2012 11:45:23 PM Ignore joel27nc Report Abuse Any reason to raise prices!
Matt G Champion Author Boston Posts:4,543 Points:2,774,990 Joined:Jun 2004	Message Posted: May 9, 2012 11:44:36 PM Ignore Matt G Report Abuse Good
Garyallman Veteran Author Honolulu Posts:308 Points:6,705 Joined:Apr 2012	Message Posted: May 9, 2012 11:43:56 PM Ignore Garyallman Report Abuse Hah! I wouldn't bet on it, you should be ready for it to double, kinda like paying your bills a month ahead of time. Better hope and pray you can jump into a car that won't financially eat you alive.
eromitlab Champion Author Huntsville Posts:7,311 Points:1,451,160 Joined:May 2008	Message Posted: May 9, 2012 11:42:28 PM Ignore eromitlab Report Abuse Of course not... it's an election year and the oil companies don't want their profits and energy prices to become a general election issue.
GassyKat Champion Author Wisconsin Posts:10,079 Points:2,069,170 Joined:Sep 2005	Message Posted: May 9, 2012 11:37:58 PM Ignore GassyKat Report Abuse We'll see
ricebike Champion Author New Jersey Posts:10,043 Points:1,857,670 Joined:Oct 2005	Message Posted: May 9, 2012 11:37:46 PM Ignore ricebike Report Abuse it's an election year...
etop8222 Veteran Author Reading Posts:429 Points:58,330 Joined:Apr 2011	Message Posted: May 9, 2012 11:35:37 PM Ignore etop8222 Report Abuse I never thought it would. It's controlled, just like the stock market.
HYEgasCA Champion Author Fresno Posts:2,111 Points:911,625 Joined:Dec 2008	Message Posted: May 9, 2012 11:33:40 PM Ignore HYEgasCA Report Abuse good
jimgraham Champion Author Akron Posts:10,382 Points:1,981,160 Joined:Oct 2007	Message Posted: May 9, 2012 11:33:26 PM Ignore jimgraham Report Abuse The lull before the storm..I hope the storm is oil \/ dropping \/dropping \/ dropping \/ down \/ to $35!! Or less \/... [Edited by: jimgraham at 5/10/2012 12:33:46 AM EST]
Eugenian Champion Author Oregon Posts:1,872 Points:364,080 Joined:Oct 2009	Message Posted: May 9, 2012 11:33:26 PM Ignore Eugenian Report Abuse Might as well get used to high gas prices. The oilagopoly won't let them drop far.
jkpsr Champion Author New Jersey Posts:4,089 Points:1,103,855 Joined:Jun 2005	Message Posted: May 9, 2012 11:32:25 PM Ignore jkpsr Report Abuse World oil prices are falling.
edgarCA Champion Author Oakland Posts:1,581 Points:241,770 Joined:Jun 2009	Message Posted: May 9, 2012 11:32:11 PM Ignore edgarCA Report Abuse Goodnight.
Mr Tex All-Star Author Dallas Posts:880 Points:2,495,320 Joined:Jan 2004	Message Posted: May 9, 2012 11:31:29 PM Ignore Mr Tex Report Abuse So were all those doom-and-gloom reports just to scare us?
HailstormCA Champion Author San Diego Posts:7,860 Points:1,472,995 Joined:Nov 2008	Message Posted: May 9, 2012 11:31:12 PM Ignore HailstormCA Report Abuse Take the bus.
gmcgas Champion Author Atlanta Posts:5,963 Points:1,716,120 Joined:Mar 2004	Message Posted: May 9, 2012 11:31:09 PM Ignore gmcgas Report Abuse yep
labombaOH Veteran Author Ohio Posts:432 Points:128,885 Joined:Nov 2007	Message Posted: May 9, 2012 11:29:07 PM Ignore labombaOH Report Abuse Give me a R---E---f---i--n----e-----r-------y------Together GOPers........FIRRRRRRRRRRRRRRRRRRRE.Can you feel the love they are gona send us.
bra0712 Champion Author Arizona Posts:3,670 Points:770,295 Joined:Nov 2008	Message Posted: May 9, 2012 11:28:56 PM Ignore bra0712 Report Abuse It will still be high
gus8441 Champion Author Baltimore Posts:2,119 Points:444,550 Joined:Feb 2012	Message Posted: May 9, 2012 11:26:26 PM Ignore gus8441 Report Abuse good...i suppose
DEG Champion Author Las Vegas Posts:17,630 Points:3,496,655 Joined:Jul 2003	Message Posted: May 9, 2012 11:26:07 PM Ignore DEG Report Abuse Memorial Day is just around the corner and prices are likely to go up.
ShutRBug Champion Author Ontario Posts:1,529 Points:654,440 Joined:Jun 2005	Message Posted: May 9, 2012 11:25:54 PM Ignore ShutRBug Report Abuse Good news...
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: May 9, 2012 11:24:40 PM Ignore frostyWV Report Abuse given enough time the speculators will get it there.
kgbellman Champion Author Ann Arbor Posts:2,723 Points:733,790 Joined:Mar 2011	Message Posted: May 9, 2012 11:23:57 PM Ignore kgbellman Report Abuse Dropping up here - currently 3.54 up here at Sam's
Lerxst17 Champion Author Dallas Posts:1,040 Points:399,850 Joined:Feb 2012	Message Posted: May 9, 2012 11:23:57 PM Ignore Lerxst17 Report Abuse Fine by me, but interesting that the forecasters change their minds ever 10 minutes.
nztyraider Champion Author Nevada Posts:2,273 Points:695,575 Joined:Apr 2009	Message Posted: May 9, 2012 11:22:20 PM Ignore nztyraider Report Abuse Ah too bad for the oil tycoons.
jem069 Champion Author Detroit Posts:2,548 Points:689,030 Joined:Jan 2011	Message Posted: May 9, 2012 11:22:16 PM Ignore jem069 Report Abuse Ok
EVBuddy Champion Author Nevada Posts:16,695 Points:3,032,570 Joined:Sep 2004	Message Posted: May 9, 2012 11:21:32 PM Ignore EVBuddy Report Abuse Thank goodness
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: May 9, 2012 11:20:41 PM Ignore tedjm1 Report Abuse What will be will be!
KrsnaDragon Champion Author Montreal Posts:2,417 Points:533,250 Joined:Nov 2011	Message Posted: May 9, 2012 11:20:06 PM Ignore KrsnaDragon Report Abuse Lower gasoline prices makes for good news.
2bigtanks All-Star Author Akron Posts:772 Points:371,610 Joined:Jun 2011	Message Posted: May 9, 2012 11:18:41 PM Ignore 2bigtanks Report Abuse If you say so.
btex49 Champion Author Austin Posts:2,730 Points:533,030 Joined:Aug 2011	Message Posted: May 9, 2012 11:18:28 PM Ignore btex49 Report Abuse Good news...hopefully.
Bigwaynef Champion Author South Carolina Posts:11,487 Points:2,082,710 Joined:Dec 2006	Message Posted: May 9, 2012 11:18:07 PM Ignore Bigwaynef Report Abuse Oh c'mon $2.00is not that far off...
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: May 9, 2012 11:17:25 PM Ignore crreed1 Report Abuse we will see
thuathienhue Champion Author Michigan Posts:3,463 Points:635,515 Joined:Jul 2011	Message Posted: May 9, 2012 11:17:25 PM Ignore thuathienhue Report Abuse Hope not
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: May 9, 2012 11:17:00 PM Ignore granitestater Report Abuse Let it keep going down at least for the Memorial Day holiday weekend travel period...
AKmailman Champion Author Alaska Posts:5,643 Points:1,559,515 Joined:Jul 2004	Message Posted: May 9, 2012 11:15:25 PM Ignore AKmailman Report Abuse don't believe anything coming from the government especially DoChu
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: May 9, 2012 11:15:04 PM Ignore pastorpaulcg Report Abuse Ok
nomad228 Champion Author Columbus Posts:3,117 Points:575,140 Joined:Feb 2011	Message Posted: May 9, 2012 11:14:18 PM Ignore nomad228 Report Abuse maybe just maybe finally all those yahoos that are buying hybreads/electric cars are finally taking a toll on gas demand. :) yeah right! hahahahahahaha : )
danreino Champion Author Twin Cities Posts:8,363 Points:1,542,680 Joined:Mar 2008	Message Posted: May 9, 2012 11:13:46 PM Ignore danreino Report Abuse Mr. Chu and pals must be pulling their hair out whilst drinking premium scotch whiskey paid for by our tax dollars. Aint that Czariffic ?
bobdec Champion Author Miami Posts:8,974 Points:1,771,770 Joined:May 2008	Message Posted: May 9, 2012 11:13:33 PM Ignore bobdec Report Abuse Too soon to tell
AnObserver Champion Author New Jersey Posts:8,364 Points:2,259,730 Joined:Sep 2005	Message Posted: May 9, 2012 11:12:09 PM Ignore AnObserver Report Abuse Grate news
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: May 9, 2012 11:12:06 PM Ignore regout Report Abuse We will wait and see maybe speculators will need more money for their future gift.
59glide All-Star Author New Haven Posts:858 Points:1,050,650 Joined:Apr 2006	Message Posted: May 9, 2012 11:11:47 PM Ignore 59glide Report Abuse GOOD