Gas Prices Decline Five Weeks In A Row

Gas Prices Decline Five Weeks In A Row

Gas prices have been falling for five consecutive weeks, defying prognosticators who said the cost would soar to a national average of $5 a gallon.

Tom Kloza, chief oil analyst at the Oil Price Information Service, called earlier predictions of $5 gas prices "apocalyptic," and had promised the folks at AAA that he'd wear a clown costume to their annual meeting if he was wrong. It looks like he won't have to get a costume.

The New York Times in February warned that prices would ratchet up over $5 a gallon if tensions in the Middle East didn't ease. There were worries that Iran was strengthening its nuclear program, but diplomatic talks have calmed those concerns.

So down gas prices came. The U.S. Energy Information Administration on Tuesday lowered its outlook for gas prices through September, saying they should stay around $3.79 on a national average, 16 cents a gallon lower than it had previously predicted.

And the price could keep falling.

http://www.huffingtonpost.com/2012/05/0 ... 01198.html

Oh, darn... Another GOP talking-point down the tubes... rofllol

Well, they can keep trying to take credit for the auto-bailout, and trying to find a way to swift-boat Obama on the Bin Laden killing... That's about all they have left...

Since many conservatives blamed Obama for the rising prices, will they now give him credit for bringing them down?

Oh- only $3.79 a gallon? That's GREAT news!!

Actually- the economy has ground to a halt again- in just the last month- and some economists say we will be in recession by July 1.

Just awsome.

WooHoo, Warren Buffet is thrilled.

If Obama isn't to blame for higher gas prices, he can't take the credit for lower prices right?

Gas prices going down can be a signal of a decline in the economy. So the Republicans could profit by that too.
"Sure, Gas are 20 cents cheaper but another 500,000 have stopped searching for employment."

Check out his campaign commercials, He Has Saved the World.
Single handedly restored the auto industry, put 4.2 million people to work, and snuck in and killed OBL.

Running out of talking points?

LadyJazzer wrote: Running out of talking points?

Maybe us, but I am sure Rove, Cheney & the Koch brothers are in a secret bunker right now creating more.

FredHayek wrote:

LadyJazzer wrote: Running out of talking points?

Maybe us...

That's what I thought.. rofllol

archer wrote: Since many conservatives blamed Obama for the rising prices, will they now give him credit for bringing them down?

I'll give his administration credit for helping to ease the concerns that Iran would close the Strait of Hormuz, which was the driving force behind the most recent price hikes. Now if we could get him to adopt some sound monetary policies, like reducing the actual amount of money spent by the federal government next year, we might even see a stronger dollar which would reduce the price even more given that it is the currency which is used to buy and sell that particular commodity. When a dollar buys less than it used to, which is where we are right now, it takes more of them to purchase the same quantity of goods - which is the primary reason why oil continues to cost in excess of $100/barrel this time around. Back in 2007, the cost went above $100/barrel based on supply not expanding as quickly as demand was. All increases in the cost of oil are not created equal after all - it can increase for a variety of reasons. If we don't expand our ability to supply the demand of a global economy which isn't in the troughs of a recession, we'll see oil prices increase with the recovery from the recession for the same reason they increased when Bush was president - supply not expanding as quickly as demand.