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Gas prices falling, but not for long

Atlanta Journal Constitution -- Motorists have received a measure of relief at the gas pump for two straight weeks, with prices in metro Atlanta dropping as much as 15 cents since peaking at $3.87 a gallon earlier this month.

The good news? Prices should drop even further. The bad? Not for long.

In a spring that's already seen prices higher than $4 a gallon, the worst is likely not over, fuel experts say.

"While it’s very likely retail gas prices will retreat further this week, it doesn’t necessarily mean we’ve seen the peak price for 2012," said Jessica Brady, a spokeswoman for AAA, The Auto Club Group.

Gas prices could climb again in May or June depending on an array of factors that affect the world supply of oil. The y include weather -- namely, the hurricane season -- and a May 23rd meeting between Iran

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Submitted Apr 24, 2012 By: aservant

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rjhenn Champion Author Des Moines Posts:22,459 Points:2,231,875 Joined:Aug 2005	Message Posted: Apr 25, 2012 9:00:00 PM Ignore rjhenn Report Abuse mrpc90 - "Hypocrites." And, of course, there's nothing hypocritical about the Republicans, back then, stating that it wasn't Bush's fault, but now it's all Obama's fault.
sparky808 Champion Author Honolulu Posts:3,013 Points:600,660 Joined:Sep 2011	Message Posted: Apr 25, 2012 1:35:18 PM Ignore sparky808 Report Abuse Thank you for posting.
mrpc90 Champion Author Illinois Posts:8,157 Points:1,929,440 Joined:Dec 2004	Message Posted: Apr 25, 2012 8:02:41 AM Ignore mrpc90 Report Abuse I'd love to go back to the days where the democrats whined and moaned about $2 a gallon gas when Bush was President. Now, it is $4 a gallon under the democrats, and they don't care.... and claim there's nothing that can be done. Hypocrites.
SavingInNC Champion Author North Carolina Posts:5,803 Points:1,095,640 Joined:Oct 2006	Message Posted: Apr 25, 2012 4:58:18 AM Ignore SavingInNC Report Abuse Surprise
cashpayer Sophomore Author Raleigh Posts:147 Points:81,395 Joined:Feb 2012	Message Posted: Apr 25, 2012 3:04:15 AM Ignore cashpayer Report Abuse Tomeboy is absolutely right. House and Senate members on both sides of the aisle are on the take from Oil companies and Wall Street and a number of other interests with big pockets. Unfortunately ours is a system where money buys votes, and those with the biggest campaign coffers buy more commercials and more votes. House members, especially, since they are up for election every two years will embrace any big money they can get their hands on. We need serious election reform starting with term limits and limits on the contributions from PACs. But congress will not clean their own houses, so we, as the voters, need to boot them out and replace them with those who will enact election reform.
cashpayer Sophomore Author Raleigh Posts:147 Points:81,395 Joined:Feb 2012	Message Posted: Apr 25, 2012 2:43:11 AM Ignore cashpayer Report Abuse Locally, for me, prices have dropped no more than about 2 cents per gallon, and that only the last couple of days. $3.769 is the cheapest I can pay without driving 15 miles out of the way.
cashpayer Sophomore Author Raleigh Posts:147 Points:81,395 Joined:Feb 2012	Message Posted: Apr 25, 2012 2:34:56 AM Ignore cashpayer Report Abuse This wasn't much of an article. Nothing we could call "news", and nothing we didn't already know.
rap12MA Veteran Author Boston Posts:476 Points:155,800 Joined:Mar 2012	Message Posted: Apr 25, 2012 1:44:58 AM Ignore rap12MA Report Abuse Aviator Rob!Tell the truth.You are really a speculator in disguise!
Tomeboy Champion Author Twin Cities Posts:3,784 Points:562,590 Joined:Apr 2009	Message Posted: Apr 25, 2012 1:32:20 AM Ignore Tomeboy Report Abuse No doubt about the pawns in this international game of chess. The general public, the six pack majority, the middle class, the poor, come to think of it about anyone without a major financial interest in oil fits the Webster’s definition of a pawn; ‘a person used to advance another’s purposes. The oil companies and oil producers are making record shattering profits. Are they the only ones benefiting from the astronomical profits being made in the oil industry? Hardly! No the river of greed flows in many directions including the financial houses underwriting the oil business and managing their money who also provide the depressing analysis that seems to drive the price up every day. Americans have reduced their use of oil. The inventories in America are the highest in years. Future demand is certain to go down with the increase in hybrid cars and reduced driving. Weather has been warmer than normal thus reducing heating oil demand. Every economic indicator says the price should be dropping, not rising to record highs. Where are the outraged congressmen and senators the so-called protectors of the people? Are they for real? Or are they simply in the pocket of the kings of the oil profits, the oil barons of the 21st century? Well the campaign contributions seem to indicate they have been bought off. So do the millions of dollars being spent on advertising by oil related industries.
Rich1430 All-Star Author Indiana Posts:761 Points:260,340 Joined:Mar 2012	Message Posted: Apr 25, 2012 1:23:22 AM Ignore Rich1430 Report Abuse To The Atlanta Urinal And Constipation-Why report stuff like this? We know it. We are not as stupid and/or uniformed as you think we are.
Tomeboy Champion Author Twin Cities Posts:3,784 Points:562,590 Joined:Apr 2009	Message Posted: Apr 25, 2012 1:12:13 AM Ignore Tomeboy Report Abuse Aviator Rob... I appreciate your input!
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: Apr 25, 2012 1:11:44 AM Ignore abacus44 Report Abuse Avaitor Rob; Assuming that your skewed, misinformed numbers were true, the 30 million in stock would be taxed as earned income, not as capital gains and therefor subject to regular tax rates. Your knowledge of economic and tax facts is woefully inadequate. BTW, I hate FOX news. CNN is now just fluff. Try BBC news if you want somewhat unbiased reporting. P.S. Stop drinking the Kool Aide
NFChaos2003 Rookie Author Long Island Posts:15 Points:435,060 Joined:Apr 2011	Message Posted: Apr 25, 2012 1:04:00 AM Ignore NFChaos2003 Report Abuse Did she ever consider buying a different car, instead of putting her kid in a different school...? Tahoes are huge gas hounds, and switching to a smaller car might be a bit more practical then stifling her child's education.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:54:16 AM Ignore Aviator_Rob Report Abuse abacus44, if you think this is class warfare BS, you need to stop drinking the Fox News Cool Aid. The only people in this country that pay a 35-45% tax rate are lottery winners and Hollywood movie stars. The average Wall Street CEO collects $300,000 cash as a salary and then $30 million in stock. So let's do the math: $300,000 @ 36% tax and $30,000,000 @ 15% capital gains. Nice work, if you can get it, eh? And this doesn't even include the fact that the 15% is on capital GAINS. As long as the money stays invested in the market, it grows TAX FREE. You don't actually pay the 15% tax until you pull the money out. And if you want a really great insurance policy, cash out your gains at the same time that you pull some losses out of the market. Made some risky bets in the market and got burned? Not to worry, you can deduct those losses from your taxes. Just charge them against your capital gains that were big winners. Meanwhile, if you save your money in the local bank, like our grandparents used to, you have to pay taxes on the meager interest earned, EVERY YEAR. I'm afraid you're mistakem, abacus44. Calling this class warfare implies that both sides have an equal chance of winning. This is a class massacre.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:39:11 AM Ignore Aviator_Rob Report Abuse Understanding how weather affects gas prices is not about the actual temperature, rap12MA. Fuel prices tend to fluctuate wildly any time supply and demand don't sync up tightly. In the case of temperature, oil refineries this winter probably refined a lot of heating oil from their crude oil stocks, expecting to sell a lot more of it than usual during the cold winter. Last winter was cold and snowy, so they made a bet on this winter being the same. Since this winter was very mild, all this extra heating oil has been sitting around in the refineries' storage tanks. Since their tanks are full, they have no place to store up gasoline for the warmer driving season, when summer gasoline blends are used to keep down the amount of smog. This all meant that gasoline supply was lower than anticipated, which drove up the price. Now that the fuel oil supply is being drawn down, there's more room to refine more gasoline which is now driving down the price somewhat. Whenever one of the geniuses at the oil companies makes a bad prediction about fuel demand, prices go crazy.
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: Apr 25, 2012 12:38:54 AM Ignore abacus44 Report Abuse Wow, a little bit of knowledge is certainly a dangerous thing. Many states impose a sales tax on gasoline purchases. Since for many people, there is a limit as to how much of their driving can be reduced or eliminated, they end up paying higher taxes and the states reap the benefits. Wall street bankers and CEOs do NOT pay an average of 15% on their earnings, its more like 35-45% between federal and state taxes. The 15% rate is for capital gains and dividends, not wages and bonuses. Obama has succeeded in his class warfare agenda if you believe this 15% BS.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:26:04 AM Ignore Aviator_Rob Report Abuse Can we get back to reality, bigrigAZ? Gas taxes are not a percentage of gas prices, like a sales tax. They're a tax per gallon of fuel. It's the same tax whether gas is $1.00/gal or $4.00/gal. In fact, the government collects more fuel taxes when prices are low because more gas is sold. A whole lot of people won't be taking that vacation road trip if gas stays high. As for the Mega Millions lottery, don't see why you brought it up on a GAS PRICE FORUM. Save that for the "state lotteries are a scam" forum. Just for the record everyone, lotteries like Mega Millions and PowerBall are state lotteries, not federal. We do not have a national lottery in the U.S. Mega Millions and Powerball jackpots are pooled from the lottery sales of many different states that take half of the income and combine that money into one big jackpot. For every dollar spent on buying lottery tickets, the state where you bought the ticket, took half the money and put it into that state's education fund. Now, if you happen to be so fortunate as to win, the state where you bought the ticket has the right to collect state taxes on your "earnings". Technically, you earned that money by purchasing that ticket in that state. Of course, the federal govt will also collect income tax on your earnings just like you pay taxes on any of your other earnings. Now, if you're done griping on how the government took so much of your "hard earned (won) money", just understand that Wall Street bankers and CEOs only have to pay 15% on their "earnings" which equals the effort of walking to their mailbox and opening their bank statement. Think it over.
bvrbill Champion Author Eugene Posts:3,238 Points:520,800 Joined:Jul 2011	Message Posted: Apr 25, 2012 12:17:52 AM Ignore bvrbill Report Abuse Up and down. But over time prices will keep rising.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Apr 25, 2012 12:17:42 AM Ignore tedjm1 Report Abuse A very quick respite to immediately start climbing.
crreed1 Champion Author West Virginia Posts:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Apr 25, 2012 12:17:05 AM Ignore crreed1 Report Abuse up and down
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Apr 25, 2012 12:14:34 AM Ignore Toppers Report Abuse Top 'em off...
bowler360 Champion Author Illinois Posts:1,985 Points:502,475 Joined:Jun 2011	Message Posted: Apr 25, 2012 12:14:17 AM Ignore bowler360 Report Abuse Get, while the gettin's good.
carloco75 Champion Author Richmond Posts:3,721 Points:602,965 Joined:Oct 2010	Message Posted: Apr 25, 2012 12:13:12 AM Ignore carloco75 Report Abuse Oh my...I am...NOT SHOCKED..!
regout Champion Author Quebec Posts:2,965 Points:834,655 Joined:May 2010	Message Posted: Apr 25, 2012 12:12:47 AM Ignore regout Report Abuse Anything....
Alfied Champion Author Riverside Posts:7,955 Points:1,758,435 Joined:Jun 2001	Message Posted: Apr 25, 2012 12:12:47 AM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
yakstar Champion Author Montreal Posts:2,435 Points:482,570 Joined:Jan 2012	Message Posted: Apr 25, 2012 12:12:07 AM Ignore yakstar Report Abuse put some preparation H on your face!
mpg611 Champion Author Cleveland Posts:2,347 Points:571,960 Joined:Apr 2011	Message Posted: Apr 25, 2012 12:11:29 AM Ignore mpg611 Report Abuse Yeah I had the feeling the falling gas prices was temporary. Color me shocked.
trinda1 Champion Author Fort Worth Posts:2,011 Points:544,795 Joined:Dec 2010	Message Posted: Apr 25, 2012 12:10:30 AM Ignore trinda1 Report Abuse Thank God for the relief.
Zonk Champion Author Michigan Posts:6,496 Points:2,104,940 Joined:Oct 2005	Message Posted: Apr 25, 2012 12:10:09 AM Ignore Zonk Report Abuse Gas prices will go like the roller coaster....up and down..
rap12MA Veteran Author Boston Posts:476 Points:155,800 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:09:53 AM Ignore rap12MA Report Abuse If weather factors affect the world supply of oil why do we have such high gas and heating oil prices when we had one of the mildest winters on record? Doesn't make sense to me.So called experts use weather factors as a reason to increase not decrease prices.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:08:32 AM Ignore Aviator_Rob Report Abuse So, let me get this straight, altima2008. Obama is driving up gas prices on purpose during an election year? Why, exactly? Is it because all Americans everywhere just LOVE high gas prices and will propel him to a landslide election in November? REALLY?!?
snappytom2 Champion Author Corpus Christi Posts:3,561 Points:275,220 Joined:Jul 2008	Message Posted: Apr 25, 2012 12:08:28 AM Ignore snappytom2 Report Abuse Up, down, up, down, up, down,..........just like a seesaw.
WebGabe Champion Author Pennsylvania Posts:2,379 Points:498,570 Joined:Jun 2007	Message Posted: Apr 25, 2012 12:07:47 AM Ignore WebGabe Report Abuse We'll see.
letterchunker Champion Author Texas Posts:2,245 Points:667,675 Joined:Aug 2008	Message Posted: Apr 25, 2012 12:07:38 AM Ignore letterchunker Report Abuse Keep threatening the speculators and maybe it will continue to drop.
TheSicilian Champion Author Jacksonville Posts:5,394 Points:1,472,675 Joined:Feb 2009	Message Posted: Apr 25, 2012 12:07:27 AM Ignore TheSicilian Report Abuse please continue to drop
FlyNFool Champion Author South Carolina Posts:8,254 Points:1,687,900 Joined:Aug 2008	Message Posted: Apr 25, 2012 12:05:10 AM Ignore FlyNFool Report Abuse We shall soon see.
emptypockets2008 Champion Author Michigan Posts:14,648 Points:1,307,715 Joined:Sep 2008	Message Posted: Apr 25, 2012 12:04:28 AM Ignore emptypockets2008 Report Abuse OK, will see.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 25, 2012 12:03:45 AM Ignore Aviator_Rob Report Abuse Totally agree with you about China, bigreddwg. China, India, and Brazil are becoming world-class oil consumers as their economies have grown. That's why we have to do everything we can to reduce our need for oil imports and the best way to do that in the near term is through efficiency. Fuel prices are like a tax on our economy, they act like a drag on growth. Unfortunately, nobody has invented a perpetual motion machine that requires zero energy to run. Therefore, the best we can ask for is to get the most amount of work out of the fuel we need. That's fuel efficiency. Anyone notice how new cars now get much better mileage since fuel prices went up? It's really kinda surprising. It's almost like all the automakers made some award winning breakthroughs in engine design, all at the same time. Of course, that's not what happened. It's just that the automakers started focusing on fuel economy because customers started demanding better; that and the fact that the government mandated higher fuel economy standards. All of a sudden the automakers found a way to make it all work. Efficiency, everybody. That's how we compete with the rest of the world.
1178richmond Champion Author New Jersey Posts:2,901 Points:799,250 Joined:Feb 2011	Message Posted: Apr 25, 2012 12:03:24 AM Ignore 1178richmond Report Abuse ok
Blue_Cruzer Champion Author Lexington Posts:7,535 Points:1,672,510 Joined:Mar 2007	Message Posted: Apr 25, 2012 12:02:21 AM Ignore Blue_Cruzer Report Abuse Sounds like this summer's pricing will be a roller coaster ride.
JamesCalvin Champion Author Lancaster Posts:3,201 Points:522,480 Joined:Nov 2011	Message Posted: Apr 25, 2012 12:01:54 AM Ignore JamesCalvin Report Abuse Glad others realize!
FrankTA2 Champion Author New York Posts:4,305 Points:1,098,150 Joined:Jun 2007	Message Posted: Apr 25, 2012 12:01:47 AM Ignore FrankTA2 Report Abuse I still have yet to see any prices drop in Staten Island, NY, where I live. In NJ across the bridge, they have dropped.
bikerchicklette Champion Author Washington Posts:5,889 Points:1,297,095 Joined:Sep 2005	Message Posted: Apr 24, 2012 11:58:43 PM Ignore bikerchicklette Report Abuse interesting
Tanner_1 Champion Author Virginia Beach Posts:1,541 Points:459,390 Joined:Nov 2011	Message Posted: Apr 24, 2012 11:58:32 PM Ignore Tanner_1 Report Abuse We can probably expect them to go up for the summer vacation season. If they do we will stay at home. A staycation this year!
Tucker1961 Champion Author Seattle Posts:2,157 Points:363,170 Joined:Jun 2009	Message Posted: Apr 24, 2012 11:57:35 PM Ignore Tucker1961 Report Abuse yep aviator rob
Aviator_Rob Champion Author New York Posts:3,810 Points:416,040 Joined:Mar 2012	Message Posted: Apr 24, 2012 11:53:38 PM Ignore Aviator_Rob Report Abuse A little clarification, danreino. There is no direct connection between crude oil prices and fuel prices. Cars don't run on crude oil. It has to be refined first and that's one of the places where Big Oil is famous for manipulating the market. It's always amazing to see so many refineries going off-line for "routine maintenance" at the same time. Great way to spike fuel prices whenever Big Oil needs a little more profit margin. And let's not forget how many oil refineries are on the verge of closure, even though the number of refineries in this country is at an all-time low. Big Oil likes fewer but larger refineries so that they're easier to "coordinate" (control). Fewer competitors means less chance for one of them going against their market strategy.
bigreddwg Champion Author Tampa Posts:5,002 Points:1,050,605 Joined:Nov 2005	Message Posted: Apr 24, 2012 11:51:39 PM Ignore bigreddwg Report Abuse TAKE THE RELIEF WHILE YOU CAN - FILL UP YOOUR TANKS ASAP AS THE PRICES WILL GO BACK UP IN MID-LATE MAY FOR THE SUMMER DRIVING SEASON, OH WELL!! AVIATOR ROB, YOU GOT SOME REAL GOOD POINTS, SO KEEP UP THE GOOD WORK, HOWEVER I MUST POINT OPUT THAT AS GAS CONSUMPTION DROPS IN THE US, IT IS GOING UP IN CHINA AND INDIA WHERE THOSE 2.2 BILLION PEOPLE ARE DRIVING CARS NOW RATHER THAN RIDING BIKES!! THAT'S OUR REAL FEAR!!
onegiraffeAL Champion Author Alabama Posts:1,015 Points:429,925 Joined:Jan 2010	Message Posted: Apr 24, 2012 11:51:13 PM Ignore onegiraffeAL Report Abuse ok
Blackice Champion Author Twin Cities Posts:4,451 Points:1,213,755 Joined:Oct 2003	Message Posted: Apr 24, 2012 11:49:06 PM Ignore Blackice Report Abuse I bought gas 3 weeks ago at the same price I can buy gas today $3.69. I missed the peak 2 weeks ago at $3.89.
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,130 Joined:Oct 2008	Message Posted: Apr 24, 2012 11:48:02 PM Ignore LCSTEELERBOB Report Abuse they are not dropping by much in N W INDIANA