First Substantial Post! The price of crude is at $54.77 at the start of the market day. Have we seen the top of the mountain, or do you think that the price will get to $80/Barrel this year?
Depends on how demand in China and India grows this year. More than the war and terrorism fears, that's what driving up the oil prices. All sorts of commodity prices have gone up over the past two years. Good for my natural resources mutual fund. Sachin
I picked a middling number - $70. You have to frame the question through a time period, though. $70 by end of '06 is my guess though it's not much more than a guess.
This year? $60. Gasoline is going to go higher though between now and July. I would be surprised not to see $2.40/gal at a station now selling it at $2.05/gal where I buy gas & milk.
I still have yet to pay $2/gallon for gas, anywhere. I hope to keep that streak alive through the middle of the year. Sachin
I think we will get $60, just on currency effects. The US$ and Chinese yuan are falling. The price of oil has doubled in terms of US$, but only gone up 30% in terms of Euros. We will probably see another significant gain due to increasing demand. US and Chinese demand will probably push oil over $70 this spring. There could be some spikes, but sustained prices will be $60-70 through 2005.
The only reason the yuan is falling is because the Chinese govt pegged it to the dollar. If they allowed it to float, its value relative to the dollar would likely skyrocket.
That's the difference between living in Virginia and Illinois. I haven't paid $2 a gallon yet this year either, but because the Dallas area has the highest gas prices in Texas, I expect that I soon will be. Regular unleaded (which I uses) is running around $1.85-1.90 a gallon around here, with the higher grades already at $2 or higher.
Two weeks ago, I said "$2.00 for Plus! That's outrageous." It went up to $2.20 today. Time to start taking the bus more. Q
Renters versus Owners I gonna stick with coessentialness. The summertime will bring +$10.00 maybe even ten more for quanity. I think. This push by government and regulators for long haul. Sure citizenry might loose but time will tell. Stabilization possibilly for five years. Power aid is a drink however, minimum wage increase. I still say. It should be ten dollars an hour. The bare necessities for survival: utilities, rent, food, transportation, rent and phone/cable. Situation should allow timeliness of gouge. At least, fecal matter remain off of sidewalks. Is this national war?
I don't have any links, but I can tell you the days of spending anything less than 1.50-1.75 for a gallon of gasoline in the US is over. Within the next 10-15 years we will all be happy that the prices have fallen back down to 4 bucks a gallon. Mark my words.
I wouldn't be surprised. As it is, in the Baltimore Metro area, I find it hard to locate gas for less than 2.29 a gallon.
Of course everything, but reaping massive profits, will be the reason for the high cost. It's good to know that I'll need to earn a 2% raise every quarter just to keep up with the rising fuel costs.
Oil industry awash in record levels of cash Article is from July 21, 2005. Apreety good direction looms. Oil is here to stay for sometime. Most probably. Already read this.
Well, were at 63 dollars. We may be losing at the pump, perhaps we should gain in the market so it cancels out
My prediction of mid 60s seems like it will most likely be passed. High 60s or low 70s seems more likely in the next 12-18 months. It will continue up another 15 cents a gallon within the next 2-3 months, and maybe by years end we'll see a slight downturn, only to see it swing up again in March of 06, and baring a major world event I think a small, but steady increase will last for another six months.