Friday, February 8, 2008


Thanks goodness. It looks like analysts are estimating that gas prices are on the decline, hopefully about 50 cents by spring. That is music to our ears (especially those of us in areas where gas hasn't been below $3.00 in a long time). Check out the entire story here.

Gasoline could drop 50 cents/gallon by spring

NEW YORK (Reuters) - U.S. drivers could enjoy a drop of up to 50 cents per gallon in gasoline prices by this spring as high fuel prices and the threat of a recession force them to conserve, experts said on Wednesday.

U.S. gasoline supplies hit a near-14-year high of 227.5 million barrels last week, helped by falling demand for the fuel, the U.S. Energy Information Administration said on Wednesday.

"Gasoline stocks are continuing to increase and it implies that people are probably cutting down on gasoline consumption -- a result of the weakening economy," said Phil Flynn, an analyst at Alaron Trading in Chicago.

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