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Analysts Expect Gasoline Prices to Drop as Demand Wanes

MoneyNews.com -- Gasoline prices have been falling for weeks, and they could go even lower as autumn's leaves begin to drop.

The national average for a gallon of unleaded regular was $2.681 on Friday, according to AAA, Wright Express and Oil Price Information Service. That's 6.6 cents lower than a month ago and 8.5 cents higher than a year ago.

The national average has stayed below $3 a gallon for nearly two years, and most analysts think it won't return to that level anytime soon.

"We've got gasoline supplies moving higher rather than lower so until we get unemployment down, you're just not going to see much of an increase in gasoline demand," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates.

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Submitted Sep 03, 2010 By: Kropf

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torn8owx Champion Author Philadelphia Posts:2,313 Points:577,515 Joined:Feb 2010	Message Posted: Sep 7, 2010 9:59:14 AM Ignore torn8owx Report Abuse Fundamental supply & demand wins out
remay Champion Author Houston Posts:4,706 Points:1,656,770 Joined:May 2006	Message Posted: Sep 5, 2010 7:57:50 PM Ignore remay Report Abuse I'll take what I can get...
CSharpGuy Champion Author Colorado Springs Posts:7,126 Points:1,435,310 Joined:Jan 2008	Message Posted: Sep 5, 2010 9:24:08 AM Ignore CSharpGuy Report Abuse I'm sure the speculators can keep prices up.
the1roadhog Champion Author Atlanta Posts:7,708 Points:1,595,455 Joined:Jun 2007	Message Posted: Sep 5, 2010 8:29:25 AM Ignore the1roadhog Report Abuse I have my doubts.
alterman156 Champion Author New York Posts:5,090 Points:1,091,850 Joined:Dec 2008	Message Posted: Sep 5, 2010 3:48:11 AM Ignore alterman156 Report Abuse I think that gasoline might go down to $2.50 per gallon within a few weeks.
brbaritone Champion Author Virginia Posts:1,069 Points:1,271,480 Joined:Jan 2007	Message Posted: Sep 4, 2010 10:11:49 PM Ignore brbaritone Report Abuse Consumers have been expecting prices to drop for over a year. As some other posters have noted, demand has been weak for over two years. Supply is very high, and yet prices remain high. Let's see that price drop. If it doesn't happen, we will have further evidence that the market is being manipulated on a massive scale.
coughlin Champion Author San Jose Posts:3,341 Points:756,125 Joined:Sep 2009	Message Posted: Sep 4, 2010 9:25:46 PM Ignore coughlin Report Abuse good
djgunrunner Champion Author Salt Lake City Posts:7,596 Points:1,888,895 Joined:Apr 2005	Message Posted: Sep 4, 2010 4:30:17 PM Ignore djgunrunner Report Abuse Tell the author of this article to look up the prices of gas in the Salt Lake area. You know the area that is #45 in the nation. After he does he can go back to smoking funny stuff or whatever else caused this article to be written. When or if we ever go to a good alternative fuel like Natural Gas or Hydrogen and not that trash Ethanol, then gas prices will go down. We could really use some government support for the people for change. Natural Gas is a proven technology that is being used in the private sector at this time due to the fact that American car builders will not put Natural Gas engines in American cars. The Japanese do not have that problem.
oahugasit All-Star Author Hawaii Posts:556 Points:607,140 Joined:Jul 2008	Message Posted: Sep 4, 2010 4:04:34 PM Ignore oahugasit Report Abuse The drop is really slow in coming.... waiting
kag2010 Champion Author Winnipeg Posts:2,894 Points:561,410 Joined:Apr 2010	Message Posted: Sep 4, 2010 11:35:55 AM Ignore kag2010 Report Abuse good.
Lugi1967 Champion Author Ohio Posts:2,590 Points:544,520 Joined:Jun 2010	Message Posted: Sep 4, 2010 11:35:23 AM Ignore Lugi1967 Report Abuse In this state (Ohio) the oil companies still raised prices for the holiday weekend
DerHahn Champion Author Illinois Posts:11,150 Points:1,654,200 Joined:May 2004	Message Posted: Sep 4, 2010 9:36:45 AM Ignore DerHahn Report Abuse demand has been down the last couple of years. even with the prices down i've seen more scooters on the road around here which use a very low amount of fuel. the speculators shot themselves in the foot taking oil prices to record highs in 2008.
JimTee Champion Author Tampa Posts:2,322 Points:1,190,825 Joined:Apr 2006	Message Posted: Sep 4, 2010 9:31:00 AM Ignore JimTee Report Abuse It boggles my mind why oil prices can't remain at one price until a "significant event" happens. Sort of like the price of other consumable goods (food, medicine, TP or even you rent check...). OH that's right, it would put a lot of people out of work (speculators, investors, journalists, ....).
ENORMS Champion Author Colorado Posts:3,014 Points:1,173,185 Joined:Sep 2006	Message Posted: Sep 4, 2010 9:04:26 AM Ignore ENORMS Report Abuse I will take a price drop at the pump!
mynt Champion Author Ottawa Posts:2,950 Points:608,255 Joined:May 2010	Message Posted: Sep 4, 2010 8:18:20 AM Ignore mynt Report Abuse Well a price decrease sure beats a price increase!
ArmydudeNC Champion Author North Carolina Posts:5,791 Points:913,450 Joined:Jul 2009	Message Posted: Sep 4, 2010 8:10:49 AM Ignore ArmydudeNC Report Abuse This is nothing more than "feel good" speculation. I am still waiting to see if oil can hit $60 a barrel.
silverfox63 Champion Author Michigan Posts:5,809 Points:1,156,745 Joined:Oct 2008	Message Posted: Sep 4, 2010 7:48:06 AM Ignore silverfox63 Report Abuse I will believe it when I see it. All they are doing is raising the price.
Pozole Champion Author Portland Posts:6,371 Points:1,128,750 Joined:Mar 2005	Message Posted: Sep 4, 2010 7:31:05 AM Ignore Pozole Report Abuse ...well, let 'em drop, I'm ready, REAL ready...
amerk73 Champion Author Dallas Posts:4,715 Points:1,157,205 Joined:Oct 2008	Message Posted: Sep 4, 2010 7:20:09 AM Ignore amerk73 Report Abuse STILL HIGH SHOULD BELOW $1.77
BMW2014 Champion Author Toronto Posts:1,794 Points:364,300 Joined:Jun 2010	Message Posted: Sep 4, 2010 7:05:11 AM Ignore BMW2014 Report Abuse I hope so.
APlus Champion Author San Antonio Posts:2,222 Points:610,970 Joined:Apr 2007	Message Posted: Sep 4, 2010 6:36:58 AM Ignore APlus Report Abuse keep prices low do not drive
DellDude2 Champion Author Nashville Posts:6,783 Points:1,656,085 Joined:Aug 2005	Message Posted: Sep 4, 2010 4:39:29 AM Ignore DellDude2 Report Abuse Prices in my neck of the woods fell about 20 cents over 2 weeks down to $2.39 and have held there for several days. Holding steady after a down trend almost always means heading back up soon.
CrackedLCD Champion Author Alabama Posts:6,674 Points:1,293,400 Joined:May 2008	Message Posted: Sep 4, 2010 2:57:24 AM Ignore CrackedLCD Report Abuse Uhhh okay. Sure.
OnTheWater Champion Author Orange County Posts:2,123 Points:622,380 Joined:Nov 2009	Message Posted: Sep 4, 2010 2:13:39 AM Ignore OnTheWater Report Abuse We haven't had DEMAND in over two years now!!!!! So this report is very accurate and I hope the unemployment rate remains high for quite some time so that we can continue seeing lower fuel prices.
Huskersed All-Star Author Atlanta Posts:703 Points:337,950 Joined:Nov 2008	Message Posted: Sep 4, 2010 1:25:09 AM Ignore Huskersed Report Abuse They went up a little bit just for Labor day weekend then go back down.
NHLiveFree Champion Author New Hampshire Posts:7,217 Points:1,171,310 Joined:Jun 2008	Message Posted: Sep 4, 2010 12:56:29 AM Ignore NHLiveFree Report Abuse WHAT DEMAND???