Predictions for this summers gas prices...?

[CichlidFan]

3.21 at the corner gas station near my house.....bare in mind, this is a little no name gas station that sells at the lowest possible price.

At this rate, we'll be at my estimate in about two weeks if this keeps up.

CF

[stevenallenbarnard]

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[Mzungu]

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Nice.

[CichlidFan]

3.23 tonight coming home from bowling practice....

CF

[nightster]

$3.35 at 59s and 99

[mnemenoi]

I think it will easily hit $5.00 a gallon by this summer, if not more.

[stevenallenbarnard]

5 is a little excessive. I can't recall gas being 5/gallon in Houston in the past has it? 4 will probably be the ceiling unless the entire middle east just breaks down.

[ImaGuyGeek]

I don't believe we have ever hit $5 in the Houston area but... I think it may be very realistic to expect us to see gas hit the $5 mark. Things in the middle east are going to get MUCH worse before they get better.

Saudi Arabia, on Tuesday had to deploy armed forces (and requested US Armed forces to assist, which we obliged) to patrol and protect the oil pipeline to the Mediterranean. All of the US oil from Saudi comes by way of the Suez Canal, or the Saudi pipeline. The Suez Canal is compromised and at risk due to the fall of the Egyptian Gov. Terror attacks have been attempted on the Pipeline in the last 2 weeks and the official protests like in the rest of the middle east are planned to begin in Saudi Arabia on March 11th.

All of this is to say that with our greatly diminished oil production in the Gulf of Mexico and Alaska. If the Saudi Pipeline and/or the Suez Canal are impacted in any way, the only other option is for tankers to travel around south africa and that would drive prices up quickly due to the additional shipping cost. Also, if Saudi Arabia has a gov overthrow and the new gov doesn't like us, i.e. they have an Iran style, circa 1979 style election of Muslim fundamentalists into power, then oil goes sky high in price.

There are a LOT of factors at play right now but these are the few big ones. It would only take one of these to go bad and we could easily see $5 gas in the Houston area.

[mnemenoi]

I work on an offshore platform (actually on one right now) and I believe we could hit that mark in the upcoming year. As ImaGuyGeek said if there is only a single problem in a long line of possible upsets, it would have a devastating effect upon the price at the pump. We were just discussing the fact that we are also rapidly approaching the Hurricane season and that is yet another variable that could dramatically influence our oil production here in the gulf. Everyone I have spoken to out here believes a $5/ gallon estimate this summer is plausible, if not likely.

[ImaGuyGeek]

At our neighborhood Valero.

$3.09 on 2/23/11
$3.18 on 2/25/11

Today, $3.28

[stevenallenbarnard]

once it hits about 4 bucks though demand will drop because people will begin to really conserve their gas and not drive as much, which will begin to send prices down. of course that is if everything stays stable in the middle east and with the weather. just my prediction.

[ImaGuyGeek]

Stability in the Middle East??? There has never, ever, in the history of mankind been stability in the Middle east and never will be as long as there are non Muslims on this planet. A single Jew, Christian, Buddhist, Atheist... Alcohol drinker, drug user... Homosexual, fornicator, musician or independent thinker... Educated woman, people making a profit or any other group you can think of not following Sharia law, taking a breath on this planet, that is enough to create Mid East turmoil. Not picking a fight or trying to be an a$$ but if gas prices staying below $5 is dependent on Middle East stability, we are screwed :)

[stevenallenbarnard]

by stability I meant not getting any worse than it already is.

[Darbex]

This is exactly where our government wants oil to be at. They know they cannot push the elec cars and other alt fuel systems until oil prices are to much for the citizens to afford. I don't know if the ME turmoil was set-up or a coincedence that they don't want to control. But it has played out just like they have hopes.

3.39 at my local Valero

[stevenallenbarnard]

3.29 at the dairy ashford/richmond valero, but 3.19 at the mobil station across the street that doesn't take debit/credit. 3.42 at the shell directly across the street from my apt.