I don't think its impossible at all we will see $10 a gallon gas in certain places. Obviously much less likely for the national average, but I still would not consider that "impossible"

 

I honestly think it might continue to trickle down, slowly. I by no means mean cheap gas again.

 

The information provided above suggests that may not be the case

 

Our local Costco has been down to this the last week or so and hasn’t moved.

Reg $5.09 / Prem $5.79

 

i work for engineer services not a big oil company. I dont have their insight, but continue to get projects so they are spending. For sure refineries have been making a ton of money in the past couple months

 

Stumbled on 87 octane for $3.69 at a BP station earlier today and filled up the truck. Other octanes north of $5.00. Otherwise, cheapest 87 octane in the area is $3.89.
Going to dinner tonight and plan on filling up the GLS450 at Sam's for $4.75. Regular is $4.15. Most 92-93 octane is north of $5.00.

 

Sam's gas $3.36. Down 3 pennies.

 

Do you have any reason to believe this besides blind trust in this administration?

 

I'm watching it happen..... Gas is $3.89 now. As I said before, still way too high but it has come down some.

 

Crude prices up about 8% so far this morning.

 

Well... looking at a 20-year chart oil certainly hasn't stayed at $100+ highs forever and has repeatedly, quickly and sometimes dramatically fallen after reaching $100+ highs. So there's that. We'll see.

 

I basically agree with AJT123 about the price of cruse gradually coming back down, but for somewhat different reasons. When the Strait of Hormuz re-opens, and there are no more physical restrictions on tankers going through, that still will probably not mean a sudden flood of crude oil will be coming through by any means. And what does come through may not necessarily be any cheaper. A big potential snag might be just once again getting Maritime insurance for the tankers.....particularly at a reasonable price. Insurance companies who cover ships sailing through high-risk areas or war zones are likely going to charge big premiums for coverage, and the risk of operating these ships without insurance is just too great. Even apart from war or combat-areas, look what happened in the last couple of years when large ships hit bridges in Baltimore and New York City.

 

 

Uhhhhh....what?

 

Hilarity