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GasBuddy News Article

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Glut of oil could push gasoline prices back down below $2 a

L.A. Times -- Energy experts say oil supply is outstripping demand. Eventually suppliers will tire of paying to store all of the surplus oil and flood the market, they predict.

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Submitted Jul 04, 2009 By: DeelSeeker
Category: Daily News Article Discussions > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Glut of oil could push gasoline prices back down below $2 a Post a Reply Back to Topics
REPLIES (newest first)
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Champion Author Gary

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Message Posted: Jul 4, 2009 8:19:54 AM

What are you waiting for?
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All-Star Author Atlanta

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Message Posted: Jul 4, 2009 8:18:09 AM

if they thought they would tire paying the storage costs they wouldn't have started it-we consumers will be the ones paying for the storage with gas prices inflated by those same storage costs-the consumer gets the shaft once again
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Champion Author Oklahoma City

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Message Posted: Jul 4, 2009 8:17:45 AM

Eventually suppliers will tire of paying to store all of the surplus oil and flood the market, they predict.

Wow, hurry and flood the market.
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Champion Author Albany

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Message Posted: Jul 4, 2009 8:16:18 AM

Oh the poor oil companies.
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Champion Author Tampa

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Message Posted: Jul 4, 2009 8:15:24 AM

Pozole - that was funny!
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Sophomore Author Oakland

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Message Posted: Jul 4, 2009 8:14:56 AM

It COULD push gas prices down to $2, but you know Big Oil will just pocket the difference. And report another quarter of record profits.
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Champion Author Illinois

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Message Posted: Jul 4, 2009 8:14:36 AM

OH that will not happen. refineries will shut down to stop that
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Champion Author Tampa

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Message Posted: Jul 4, 2009 8:14:27 AM

next article...a little black rain cloud forms in the gulf...prices rise...gas to be over $4 a gallon soon!
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Champion Author Milwaukee

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Message Posted: Jul 4, 2009 8:14:16 AM

Oil reporting is always suspect... this article is clearly good news to consumers. Remember the 70's? we were running out of oil...
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All-Star Author Columbus

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Message Posted: Jul 4, 2009 8:13:24 AM

WOW!!! Christmas in July!!!!!
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Champion Author Cleveland

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Message Posted: Jul 4, 2009 8:12:55 AM

Anything could happen. US economy is not going to recover with high prices.
I hope they go down more.
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Champion Author Portland

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Message Posted: Jul 4, 2009 8:12:31 AM

...spay or neuter your local speculator population...
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Champion Author St. Louis

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Message Posted: Jul 4, 2009 8:09:11 AM

let us hope all the speculators pushing UP oil prices loose billions on their inflated futures bets !@!
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Champion Author Colorado

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Message Posted: Jul 4, 2009 8:07:48 AM

After Labor Day.
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Champion Author Scranton

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Message Posted: Jul 4, 2009 8:07:05 AM

Probably wont happen but it would be good.
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Champion Author Pittsburgh

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Message Posted: Jul 4, 2009 8:06:30 AM

I really don't see it happening.
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All-Star Author Hartford

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Message Posted: Jul 4, 2009 8:05:58 AM

Sounds like a lot of wishful thinking. Time will tell
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Sophomore Author Virginia Beach

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Message Posted: Jul 4, 2009 8:04:24 AM

great
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Champion Author Seattle

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Message Posted: Jul 4, 2009 8:04:14 AM

YES !!!! Give back some of what you stole from us.
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Rookie Author Atlanta

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Message Posted: Jul 4, 2009 8:03:02 AM

Open the gates and let the tankers roll!
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All-Star Author Cleveland

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Message Posted: Jul 4, 2009 8:01:42 AM

Then why is retail fuel going up in price?

Tell me again what crude prices have to do with retail?

I feel sorry for the speculators!
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Champion Author Scranton

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Message Posted: Jul 4, 2009 8:01:34 AM

Prices below $2 would not be good for the long term.
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Champion Author Cincinnati

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Message Posted: Jul 4, 2009 8:01:21 AM

Highly unlikely. OPEC and the traders will do all they can to keep it up.
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Champion Author Florida

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Message Posted: Jul 4, 2009 7:58:26 AM

this will put a bunch of speculators in the poor house...and then we'll bail them out! leaving only us and our future generations really poor.

[Edited by: vabites at 7/4/2009 8:59:06 AM EST]
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Champion Author Toledo

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Message Posted: Jul 4, 2009 7:56:56 AM

and dinosaurs will roam central park
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Champion Author New York

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Message Posted: Jul 4, 2009 7:55:15 AM

That sounds like a "DREAM". But keep dreaming, you never know.

[Edited by: cableman31 at 7/4/2009 8:56:00 AM EST]
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Champion Author Detroit

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Message Posted: Jul 4, 2009 7:54:36 AM

they will find a way screw us.....
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Champion Author Illinois

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Message Posted: Jul 4, 2009 7:52:40 AM

get rid of the speculators and it might have chance.
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Champion Author New Jersey

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Message Posted: Jul 4, 2009 7:52:25 AM

Sounds nice - but I'll believe it when I see it. Even if it does go down, speculators will see it as another opportunity to make money and drive it right back up again.
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Champion Author Worcester

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Message Posted: Jul 4, 2009 7:51:45 AM

seeing is believing at$2.659/10 per gallon!!!!
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Champion Author Syracuse

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Message Posted: Jul 4, 2009 7:49:44 AM

That would be nice, but not if big oil and their best friends the speculators have their way.
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Champion Author Nebraska

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Message Posted: Jul 4, 2009 7:48:10 AM

Their going to have to drown the speculators first.
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All-Star Author Dallas

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Message Posted: Jul 4, 2009 7:46:33 AM

What goes down, rebounds up!
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Veteran Author New Jersey

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Message Posted: Jul 4, 2009 7:45:59 AM

let them pay and pay some more like we have been paying because of thier greed. hope they drown in thier iol glut.
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Champion Author New Jersey

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Message Posted: Jul 4, 2009 7:44:08 AM

Prices are going down but not by much.
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Champion Author Wilmington

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Message Posted: Jul 4, 2009 7:42:49 AM

Want prices to go down..Get rid of the Speculators..How simple can it get???
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Champion Author Detroit

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Message Posted: Jul 4, 2009 7:41:41 AM

Good and maybe price and supplies will stablize.
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All-Star Author Albuquerque

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Message Posted: Jul 4, 2009 7:41:36 AM

Oil is king, how do we get away from this addicition.
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Rookie Author Kansas

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Message Posted: Jul 4, 2009 7:40:58 AM

THE PRICE HAS DROPPED TEN CENTS A GALLON THE PAST WEEK IN OUR AREA.
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Champion Author Florida

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Message Posted: Jul 4, 2009 7:39:20 AM

I agree with "Jarol". we do need to get away from the oil addicition.
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Champion Author Maryland

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Message Posted: Jul 4, 2009 7:39:05 AM

good!!
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Champion Author New Jersey

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Message Posted: Jul 4, 2009 7:38:49 AM

OH MY GOD!!! Please don't hit us with another price crash. How will we ever survive with cheap gas. We'll just have to let our engines idle all night and take the LONG way to work. HEAVEN HELP US :) :) :)
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Champion Author Fort Worth

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Message Posted: Jul 4, 2009 7:37:03 AM

keep conserving energy and driving the prices down more.
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Champion Author Iowa

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Message Posted: Jul 4, 2009 7:35:41 AM

Meanwhile ... back on the farm ... we need a permanent energy policy that gives us independence from foreign suppliers.
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Champion Author Indiana

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Message Posted: Jul 4, 2009 7:31:16 AM

Wishful thinking but it is only July 4th. We still have the rest of the summer and Labor Day to contend with. It is also Hurricane season too. Let one of these big storms loose in the gulf and watch the prices sky rocket.
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Champion Author Lansing

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Message Posted: Jul 4, 2009 7:29:56 AM

Sounds good, but I won't be holding my breath!
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Champion Author Cincinnati

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Message Posted: Jul 4, 2009 7:28:08 AM

Wishful thinking or good news for the 4th of July?
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Champion Author Minnesota

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Message Posted: Jul 4, 2009 7:22:19 AM

lovely article!!
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Champion Author Tampa

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Message Posted: Jul 4, 2009 7:20:16 AM

Doublespeak all the time now. Gas usage up, glut of oil, oil is up because of China and others buying oil. Hopefully, it will go down though a bit before they get it back above $3 a gallon, and they will within the next 18 months.
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Champion Author Oklahoma

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Message Posted: Jul 4, 2009 7:20:13 AM

If only it would really happen.
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Champion Author Cleveland

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Message Posted: Jul 4, 2009 7:19:32 AM

I'll believe it when I see it. Supply is too easily manipulated for there to be a long term benefit.
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