Question Of the Day: Just How Long Will Gas Stay This Cheap?

I think (I hope), that people are smarter than to start buying guzzlers again. Whatever the timeframe is, they WILL come back, and if last time was an indication, add another buck to the previous highs.

— t_bone (View Profile)

Posted on 11/28/2008 2:42:39 PM | reply to this comment | Votes: 6   

It's not all about gas guzzlers anymore. Other factors to consider:

1. We (the U.S.) are "re-flating" the economy, which is to say we are printing money. This will catch up with us by devaluing the dollar and raising oil prices.

2. Instead of a demand crunch, we're going to see a supply crunch in the near future. Notice that inventories are not rising, they're falling. The margin for error that we are operating with is razor thin.

— GreenPlease (View Profile)

Posted on 11/28/2008 3:08:59 PM | reply to this comment | Votes: 3   

it will get ridiculous again once world economy gets back in shape, which will prolly be some time from now, But the Great analyst Mike B. says $7 a gallon by Summer 2010

— 350zdon17 (View Profile)

Posted on 11/28/2008 3:09:41 PM | reply to this comment | Votes: -1   

This is getting to be such a rhetorical question and everyone has their own opinion, most seem pessamistic at best. I never saw anyone make a post that it was ever going to come back down. . If the oil was not even showing on the Saudi dipstick , there is now way it was ever going to be this low . They wopuld be hollering panic , panic . Right now oil is so low that many exporting countries cannot pay their bills. Now and if it was to go higher than it previously was , the cycle will repeat itself .I'll throw my hat in the ring with a 3.00/ gal price when all the dust settles

— toolatetorace (View Profile)

Posted on 11/28/2008 3:30:58 PM | reply to this comment | Votes: 2   

They have already cut production so prices will rise, Gas guzzlers will always have poor resale because of the potential of it going crazy again.

— truckman (View Profile)

Posted on 11/28/2008 4:29:07 PM | reply to this comment | Votes: 4   

as soon as the world ecconomy turns around oil prices will start going up, for the same reason it went up the first time. Oil speculation.

— holmstar (View Profile)

Posted on 11/28/2008 4:47:13 PM | reply to this comment | Votes: 3   

Cheap gas and price deflation will last as long as the upcoming Depression lasts - probably 2 - 6 years.
After that, prices will should rise slowly - assuming the Fed raises interest rates to keep a lid in inflation as the economy begins to roll along again.

— AgentOrange (View Profile)

Posted on 11/28/2008 6:59:31 PM | reply to this comment | Votes: 2   

As soccer mom sara driving a Suburban with her 1 scrawny kid in the back and Billy bo bob with a 25in lift each get an average of 10mpg keep driving its going to massively shorten the relief at the pumps.

— veyron1001 (View Profile)

Posted on 11/28/2008 8:01:56 PM | reply to this comment | Votes: 1   

I think the high gas prices sparked a mental block in people into scaring them away from Gas Guzzlers. People are already doing much more research into alternatives like never seen before. The first step is getting people educated on Hybrids and CNG and Hydrogen. The next step is getting them to actually want to buy one. If gas goes back up, it will only be if something major changes. Trends seem to always come back, so I'm not holding my breath paying $1.57 in Dallas.

— adamsaf723 (View Profile)

Posted on 11/29/2008 12:23:10 AM | reply to this comment | Votes: 1   

If the US Dollar gains strength, will gas prices remain low?

— rxbkrs (View Profile)

Posted on 11/29/2008 10:21:54 AM | reply to this comment | Votes: 1   

ONCE AGAIN (Ive posted this a million times and no one seems to notice)

STOP WANTON OIL SPECULATION!!

The reason why oil spiked as high as it did was because of unregulated oil speculation. We need to un-do the Enron/Clinton legislation of December 2000 and keep greedy crooks on wall st. from screwing us all over again.

But lets be reasonable here, between Wall St. Criminals, oil industry and the Saudis, our government isnt going to act. THey wont even talk about regulating oil speculation.

They won't tax gas either (like Rick Wagoner has been advocating for YEARS). So instead, congress takes the easy and trendy route and puts ridiculous regulation on automakers.

We can all thank our government from doing NOTHING to help us and our auto companies.

— neutral (View Profile)

Posted on 11/30/2008 6:30:10 PM | reply to this comment | Votes: 1