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GasBuddy News Article


Gas predicted to fall below $3 and stay for rest of year
Tuesday, October 14, 2008
Rocky Mountain News -- Gasoline prices across Colorado have tumbled nearly $1 a gallon since this summer's record high of $4.093 a gallon on July 17, and experts say prices will slide below $3 a gallon in the coming weeks and stay there through the end of the year.

There's more good news: Experts say the $4-a-gallon days are over for the foreseeable future - that is, until the U.S. economy recovers.

Unless events such as a major refinery fire or a pipeline bursts send prices back up again, experts say they will continue to slide - due to the threat of a global recession, a supply glut and weak demand.

On Monday, several gas stations in metro Denver were selling gas for less than $3 a gallon.


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JT
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Message Posted: 10/14/2008 10:46:10 AM  Ignore JT Report Abuse
Tuesday, October 14, 2008
Rocky Mountain News -- Gasoline prices across Colorado have tumbled nearly $1 a gallon since this summer's record high of $4.093 a gallon on July 17, and experts say prices will slide below $3 a gallon in the coming weeks and stay there through the end of the year.

There's more good news: Experts say the $4-a-gallon days are over for the foreseeable future - that is, until the U.S. economy recovers.

Unless events such as a major refinery fire or a pipeline bursts send prices back up again, experts say they will continue to slide - due to the threat of a global recession, a supply glut and weak demand.

On Monday, several gas stations in metro Denver were selling gas for less than $3 a gallon.

Visit Rocky Mountain News for full article
REPLIES (newest first)
dmina425
Rookie Author
Georgia

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Message Posted: 10/16/2008 7:58:25 PM  Ignore dmina425 Report Abuse
Under $3 is nice...but expect the unexpected. I'm sure our government will find some way to screw us out of anything we try to save.
skybiker
Veteran Author
South Carolina

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Message Posted: 10/15/2008 10:15:24 PM  Ignore skybiker Report Abuse
Yes, I will not go back to fast freeway driving and jackrabbit starts. Gotta conserve always.
MacGyver_1701
Champion Author
Indiana

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Message Posted: 10/15/2008 1:53:49 PM  Ignore MacGyver_1701 Report Abuse
I would like $2 better, but one step at a time.
EarlyMoose
Champion Author
Seattle

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Message Posted: 10/15/2008 11:14:50 AM  Ignore EarlyMoose Report Abuse
My 401k is expected to stay down for the rest of the year too. More if the elections go south.
ramshot412
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Riverside

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Message Posted: 10/15/2008 11:11:42 AM  Ignore ramshot412 Report Abuse
"These reductions are great - just what the government wants us to think. These prices are outlandish still. We need to keep fighting back or we will lose this battle altogether."

We lost the battle over 100 years ago. The Feds should have nationalized the oil Standard Oil instead of splitting it up.
VicSam
Rookie Author
San Antonio

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Message Posted: 10/15/2008 11:09:58 AM  Ignore VicSam Report Abuse
Hey people ... even though gas prices are falling, if you already were doing something to save gas$$, DON’T RETURN TO YOUR OLD HABITS! Use your brain and save some money ... while you can.
ladyjj
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Tennessee

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Message Posted: 10/15/2008 11:03:21 AM  Ignore ladyjj Report Abuse
I have seen 3.09 around here and that was in Smyrna TN.. This is still way to high for fuel. I say do all you can to keep conserving and maybe it will drop even futher!
wwcj
Veteran Author
Virginia

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Message Posted: 10/15/2008 10:59:11 AM  Ignore wwcj Report Abuse
They only way we can insure that this will happen is to make sure that the Drill Now, Drill often, will happen in the next congress.
We should only elect Senators and House members that promise to vote for Drilling.
Serious rumors are that Pelosi and Reed will re-invoke the drilling band right after the elections.
This will happen wether Obama is elected or not. Need to keep the pressure on congress.
If you want lower energy prices, we have to have use all sources of energy, especially the kinds that
Democrats do want us to use, like nuclear power.
Remember, Nancy Pelosi, thinks she is in office to 'save the planet,'
Gerund1
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Toronto

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Message Posted: 10/15/2008 10:54:40 AM  Ignore Gerund1 Report Abuse
I noted, with some interest as I drove by with a full tank, that although the price of oil went down a good deal yesterday, the price of gas in my area went up about 3 cents/litre. Would you think that there is something just a little wrong with this picture???
noelblak
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Oregon

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Message Posted: 10/15/2008 10:52:38 AM  Ignore noelblak Report Abuse
It would be nice
Tatalah
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Los Angeles

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Message Posted: 10/15/2008 10:51:50 AM  Ignore Tatalah Report Abuse
90.00 per barrel oil can easily be translated to 4.50 gas. Don't be lulled to sleep. We need to eliminate our oil dependency.
plumb37
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Quebec

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Message Posted: 10/15/2008 10:49:07 AM  Ignore plumb37 Report Abuse
Gas and oil prices will never come into line unless you compare them to the price of oil last month.

When the price of oil comes out it is a future price. The price today is for the month of November.

Also, OPEC and Canada sell oil, they are not in the business of selling gas. Take a look at the refineries in the US and Canada as to why the price of gas is what it is today.
w4kh
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Riverside

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Message Posted: 10/15/2008 10:48:08 AM  Ignore w4kh Report Abuse
We are still well above $3.00/gallon west of Los Angeles in the mid-desert... does seem to bother the commuters in 4x4 crew cab pickups with one driver, no passengers, and his foot to the floor... guess filling up more often doesn't enter the small brains of folks like that, which keeps them on the financial edge... 15% waste equates to about 60 cents/gallon higher cost over a month, but it is the dollars per fillup that have them acting foolish... very same mentality that fueled the sub-prime mortgage and its collapse... very sad, and rather dangerous
TBONE3
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Pennsylvania

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Message Posted: 10/15/2008 10:41:05 AM  Ignore TBONE3 Report Abuse
About 75% of the brands here are below $3.
Chazzer
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Nevada

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Message Posted: 10/15/2008 10:39:42 AM  Ignore Chazzer Report Abuse
We can only hope!
Cuzilla
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Indianapolis

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Message Posted: 10/15/2008 10:37:07 AM  Ignore Cuzilla Report Abuse
Thanks for the news!
stvpete
Rookie Author
Minnesota

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Message Posted: 10/15/2008 10:36:10 AM  Ignore stvpete Report Abuse
Oil is down 55%, gas down 25. Something is wrong with this picture
SeerLV
All-Star Author
Las Vegas

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Message Posted: 10/15/2008 10:34:16 AM  Ignore SeerLV Report Abuse
We have a few stations at $2.99 but most are $3.15 or higher. Better than $4.00!
travelzonecente
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Riverside

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Message Posted: 10/15/2008 10:32:42 AM  Ignore travelzonecente Report Abuse
Demand in the Inland Empire California for fuel has dropped aprox. 4%. The economy is definetly a part of the demand reduction.
Don20
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Oklahoma City

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Message Posted: 10/15/2008 10:32:12 AM  Ignore Don20 Report Abuse
It has been below $3.00 here for several weeks..
RAC110
Veteran Author
Massachusetts

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Message Posted: 10/15/2008 10:32:05 AM  Ignore RAC110 Report Abuse
Okay !!!!
krucker
All-Star Author
Austin

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Message Posted: 10/15/2008 10:29:02 AM  Ignore krucker Report Abuse
CERTAINLY HOPE SO!!!!
phatride92
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Kansas

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Message Posted: 10/15/2008 10:28:01 AM  Ignore phatride92 Report Abuse
ok
racerdj
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Indianapolis

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Message Posted: 10/15/2008 10:24:50 AM  Ignore racerdj Report Abuse
It's still higher than 1 year ago.
ooops
Sophomore Author
Virginia

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Message Posted: 10/15/2008 10:19:10 AM  Ignore ooops Report Abuse
Still not low enough.
tapprach
Rookie Author
Michigan

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Message Posted: 10/15/2008 10:18:13 AM  Ignore tapprach Report Abuse
These reductions are great - just what the government wants us to think. These prices are outlandish still. We need to keep fighting back or we will lose this battle altogether.
laddyboy62
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Riverside

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Message Posted: 10/15/2008 10:17:20 AM  Ignore laddyboy62 Report Abuse
barrel..is just about where it was last year...but yet price per gallon 50cents more...and it will rise as we get closer to the holidays...so lets all keep doing..what we have been doing...and thats drive smarter and less
fastfreddy38
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Ontario

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Message Posted: 10/15/2008 10:15:06 AM  Ignore fastfreddy38 Report Abuse
Good idea!
siouxbear
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Ontario

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Message Posted: 10/15/2008 10:14:05 AM  Ignore siouxbear Report Abuse
we need to move to hydrogen fuel cells then they will be giving the oil away
PokerAce
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Louisiana

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Message Posted: 10/15/2008 10:12:45 AM  Ignore PokerAce Report Abuse
Count it ......
laddyboy62
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Riverside

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Message Posted: 10/15/2008 10:10:02 AM  Ignore laddyboy62 Report Abuse
still 50 cents higher then last year..same day
hank1326
All-Star Author
Los Angeles

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Message Posted: 10/15/2008 10:09:47 AM  Ignore hank1326 Report Abuse
Keep on conserving. Drive less, walk more.
jeteye
All-Star Author
Austin

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Message Posted: 10/15/2008 10:07:06 AM  Ignore jeteye Report Abuse
this is old news
wizzard3040
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St. Louis

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Message Posted: 10/15/2008 10:07:02 AM  Ignore wizzard3040 Report Abuse
Global economic forcast is/has dropped over the EDGE!
NedW
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Indianapolis

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Message Posted: 10/15/2008 10:06:55 AM  Ignore NedW Report Abuse
The trend of reducing the United States of American to 3rd world status by many in our own government and, seemingly, a few of its citizens, continues unabated. There’s a more ‘descriptive’ way of phrasing the last sentence but it would probably not be acceptable on this forum. Please contact your representatives and senators and hold them accountable to their sworn oath to "protect, preserve, and defend” our constitution! That is not only our right but, our responsibility. If you’re unsure of who’s yours are you can find out quickly, as well as how to contact them, by going to the following web sites:
Senators
www.senate.gov
Congressperson
www.house.gov
Kerdink
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Cincinnati

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Message Posted: 10/15/2008 10:05:34 AM  Ignore Kerdink Report Abuse
$1.75 a gallon sounds even better
SilverFoxHMT
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Riverside

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Message Posted: 10/15/2008 10:05:25 AM  Ignore SilverFoxHMT Report Abuse
Not holding my breath, CA is always the highest in CONUS! Currently switching, if not already done, to winter blend!
tigeriz
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Maine

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Message Posted: 10/15/2008 10:05:19 AM  Ignore tigeriz Report Abuse
I hope that's true.
Dennis783
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Wisconsin

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Message Posted: 10/15/2008 10:05:10 AM  Ignore Dennis783 Report Abuse
Bet they are up again by end of November - after the elections
gordonfan05
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Illinois

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Message Posted: 10/15/2008 10:04:38 AM  Ignore gordonfan05 Report Abuse
I'm liking it!
falconmb
Champion Author
Austin

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Message Posted: 10/15/2008 10:04:21 AM  Ignore falconmb Report Abuse
how about a fall below $2?
tomok
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Portland

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Message Posted: 10/15/2008 10:00:14 AM  Ignore tomok Report Abuse
That’s right - prices need to fall and go much lower too.......
fall, fall, fall and conserve, conserve, conserve.....
Gassie1
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Akron

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Message Posted: 10/15/2008 9:59:06 AM  Ignore Gassie1 Report Abuse
Need lower than 1.50
wizzard1222
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St. Louis

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Message Posted: 10/15/2008 9:58:38 AM  Ignore wizzard1222 Report Abuse
Crude below $75
kh_in_pv
Rookie Author
Kansas City

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Message Posted: 10/15/2008 9:58:27 AM  Ignore kh_in_pv Report Abuse
Down to $2.45 outside of Kansas City.
markmoore80
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North Carolina

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Message Posted: 10/15/2008 9:58:11 AM  Ignore markmoore80 Report Abuse
Do I hear 2.50, 2.50, 2.50... now a how about 2.25, 2.25 - com'on gimme 2.25... now 2, can I get 2...
GooseMI
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Grand Rapids

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Message Posted: 10/15/2008 9:57:35 AM  Ignore GooseMI Report Abuse
More for Christmas
ww2gas
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Virginia

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Message Posted: 10/15/2008 9:56:25 AM  Ignore ww2gas Report Abuse
Amen.
marsjoe
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Pittsburgh

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Message Posted: 10/15/2008 9:56:18 AM  Ignore marsjoe Report Abuse
How about below $2!!!!!!!!
Mark75
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Atlanta

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Message Posted: 10/15/2008 9:55:12 AM  Ignore Mark75 Report Abuse
Let them keep falling!!! More money saved on gas, the more money we can save or put back into our own economy.
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