Gasoline at $5.00 per Gallon in 2011 ???

[Rocky C]

CAIRO, Dec. 28 (UPI) -- U.S. market analysts are expecting crude oil to hit $100 per barrel, though some OPEC members said from Cairo that they weren't so sure.

Oil prices on the New York Mercantile Exchange edged to more than $90 per barrel as U.S. inventories declined and winter weather created havoc for the transportation sector along the eastern seaboard.

Key Wall Street investors such as Morgan Stanley are expecting oil to hit $100 per barrel in 2011. Meanwhile, gasoline prices, according to a former Shell executive, could hit $5 per gallon for U.S. consumers within a year.

Qatari and Algerian oil ministers at meetings in Cairo said $80 per barrel was the best-case scenario for producers and consumers, Bloomberg News reports. But Shokri Ghanem, the chairman of Libya's state-owned National Oil Corp., said oil was likely to hit $100, a price that delegates from Venezuela and Iran agreed was fair.

Members of the Organization of the Petroleum Exporting Countries said during their regular meeting Dec. 11 in Ecuador that production quotas probably wouldn't budge and Ghanem said the market would determine whether member states would increase production next year.

[The Sheepdog]

I love the fact that people from Venezuela and Iran get to decide what is a "good price" for us to pay. Besides that, our prices are based on speculation, so when someone overseas decides to talk about raising the price of oil, we can just stand-by to watch our gas prices rise a dime a day until "they" are comfortable with our gas prices.

[Kegler300]

Oil drilling moratoriums are for morons. Higher gas prices will impact the price on virtually everything delivered to local stores and supermarkets, and green energy ain't the friggin' solution! Allowing government to take control of energy and the food supply needs to be stopped, so giving Obama the boot in 2012, like the recent congress is the solution!

[SgtThrasher]

Oil drilling moratoriums are for morons. Higher gas prices will impact the price on virtually everything delivered to local stores and supermarkets, and green energy ain't the friggin' solution! Allowing government to take control of energy and the food supply needs to be stopped, so giving Obama the boot in 2012, like the recent congress is the solution!

Amen

[AAV Crewchief]

CAIRO, Dec. 28 (UPI) -- U.S. market analysts are expecting crude oil to hit $100 per barrel, though some OPEC members said from Cairo that they weren't so sure.

Oil prices on the New York Mercantile Exchange edged to more than $90 per barrel as U.S. inventories declined and winter weather created havoc for the transportation sector along the eastern seaboard.

Key Wall Street investors such as Morgan Stanley are expecting oil to hit $100 per barrel in 2011. Meanwhile, gasoline prices, according to a former Shell executive, could hit $5 per gallon for U.S. consumers within a year.

Qatari and Algerian oil ministers at meetings in Cairo said $80 per barrel was the best-case scenario for producers and consumers, Bloomberg News reports. But Shokri Ghanem, the chairman of Libya's state-owned National Oil Corp., said oil was likely to hit $100, a price that delegates from Venezuela and Iran agreed was fair.

Members of the Organization of the Petroleum Exporting Countries said during their regular meeting Dec. 11 in Ecuador that production quotas probably wouldn't budge and Ghanem said the market would determine whether member states would increase production next year.

That's asinine because when gas was $148 per barrel back in 2008, i never paid more than $3.90 per gallon.

[rheinmark187]

That's asinine because when gas was $148 per barrel back in 2008, i never paid more than $3.90 per gallon.

Was your gas purchase subsidized?

[pointman2010]

Am in UK gas prices here are crazy approx £2 per litre 3.7 litres to gallon (US)

[Vandrel]

I find it funny that gas is one of the few products in the world that rarely ever sees a decrease in price. It always goes up. There's always SOME excuse for why it needs to be MORE expensive. I guess it's eventually going to boil down to people going to drill their own oil and fabricate their own fuel. Wal-Mart should jump on that idea, DIY-Home-Drilling-And-Mixing-Kit (Create gallons of fuel in only MINUTES and for the low price of only $19.99)

[Beltayn]

It's 50 cents per gallon here in Saudi Arabia. That's cheaper than water.

[Rocky C]

$ 3.19 a Gallon for Regular Unleaded 87 Octane today in Rhode Island.

[ZSKI]

Am in UK gas prices here are crazy approx £2 per litre 3.7 litres to gallon (US)

Because thats how they pay for the universal healthcare. They tax the hell out of fuel

[SlingerDun]

RBOB chart patterns suggest energies are going down, maybe not tomorrow or next payday, but within a couple months. Whoever is certain that unleaded futures are positioned for another spike? Open a cash, or option and margin account and control a contract of gasoline!? Pure refined capitalism baby. Best to wait a few months though because it does look like prices will descend first, and "margin call" on a diving commodity is a sickening feeling

[SlingerDun]

Oh, here abouts the legislators just approved an additional 6 cent per gallon tax to fix stuff that wasnt gettin fixed under the last gas tax increase

[AAV Crewchief]

Was your gas purchase subsidized?

Nope, that was what we were paying for gas in Northwest Florida at that time. Why would you ask if it was subsidized? Was there some sort of program I missed out on?

[AAV Crewchief]

It's 50 cents per gallon here in Saudi Arabia. That's cheaper than water.

I think a bushel of corn or wheat ought to be worth one barrel of oil.