Gas prices may go as low as $2.50 a gallon by the holidays, experts say

Any congressional rumblings about a post-election windfall profits investigation?

If people shift seriously to off grid and green energy these oil boys are in a world of hurt. Could this be another pump and dump operation in reverse? Drop the price to bring people back to oil then escalate it after the election?

Did anyone actually believe this couldn't play out this way - a sudden drop in gas prices in OCTOBER - just in time for a Presidential election?

We pay $1.25 for a 20 oz bottle of soda, like atee said, a small latte......If you think about it, it's not the amount that gas is going for, it's how much we are using.

Holy cow. We just went down to $3.17 today and that's a 30 cent drop in the last 10 days or so.

This is an example of how we;re all brain washed, including myself. Gas has gotten so high we think its low. Its like I'm going to starbucks, I don't want a small latte, I want a gallon of gas!

seriously, it's all bullshit, I think gas could be 1.50 and big oil would still profit. but they've found about the highest amount people will pay and they CAN charge 4, even 5 and people might drive less, but they won't stop driving.
I think of it as an energy monopoly; at 4.50 a gallon we were driving less, but since we had no alternative fuel many people had no choice but to pay up.

Thank you rubber for talking about how gas was $.99 a gallon, that was less than 10 years ago, can anyone name a commodity that is priced 150% more today than 10 years ago?

It's happening because of the elections. We're still a nation of slaves to the pump.

2.40 gas here.

1, this is a lie vote it down

2, wtf, gas is always 3+ in cali. at least 3.10 lately.

At least there's one upside to the recession...however where I live, the gas prices are on average .50 cents above the national average :(

I live in Iowa and gas is only 2.38 here

I live in Dallas.
I got gas for 2.49 yesterday.

i remember when gas went as low as 99 cents

I have to say you have to admire how the system has to fall in to decay every 20 odd years. High petrol is good for US treasury keeps inflation in check. However there is capitalism, the market speculates on the price of oil every day. Now we wait until OPEC and Iran make their move. One rule, values always go up and if they are falling it’s because market forces are at work to keep them artificially low. However I also believe Iran will flood Europe with cheap oil. And then we will see the US make Iran an offer it cannot refuse?

They also said they would never go below $3 dollars again.

yay! that would be really good if it did.
:]

I've heard the argument (i don't necessarily agree with it) that the presidential race is causing prices to drop and then within a few weeks after Nov 4 prices are going to go back up.

By January 20th prices will be below $2 a gal

Not here in Charlotte. We just got gas back recently from Ike hitting. It will take a little longer for the gouging to stop.

so is this some kind of oil corporation X-mass present

i'll believe it when i see it

Not to be pessimistic but...for how long??

theyre pretty good. I got gas for $2.45 the other day