From chart of spot oil px, seems like $125 next stop ($127 now), then $115. $115 would be a 15% correction - not much at all. If gas px drops 15% (no idea if it will/should match crude) that's $3.40. Personal guess is we will march to higher oil and gas prices over the coming years, but don't think get there in straight line
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Originally Posted by Porsche-O-Phile
I dunno.
While on the one hand I think this is being driven primarily by speculation, with every passing day the dollar gets weaker and international confidence in the current/future strength of the U.S. economy ebbs away. As such, suppliers are likely to turn to other countries, meaning (effectively) less supply coming to the U.S. and continued upward pressure on prices.
I agree there MIGHT (possibly) be some declines coming, but they won't go very deep. I doubt we'll ever see gasoline for < $3.00 a gallon in the U.S. again.
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