According to Phil Flynn, Vice President and Senior Market Analyst at Alaron Trading, gas prices nationwide have been recently reduced about $.05 per gallon and he says this is just the beginning. He predicts that gas prices could go down to $3.50 a gallon by Labor Day (Sept. 1st).
According to CBS2′s article,
“We saw a substantial drop in the price of crude oil, which it appears gas station owners were in a hurry to pass on to consumers,” said Phil Flynn, Vice President an Senior Market Analyst at Alaron Trading.
“So often we hear gas prices rise like a rocket and drop like a feather, this time, they’re starting to drop like a rock and that’s a good thing,” Flynn said.
That’s partly because demand is down about 4 percent from where it usually is. Many people have put the brakes on driving this summer because it costs too much.
“We could see $3.70 in the city and if we get really lucky, maybe $3.50 by Labor Day,” Flynn said.
Yes, there is a fine line between educated speculation and full on media whoring, but does Phil look like the kind of guy who would simply say what we all want to hear, just to get his name in the news? Ok, don’t answer that.
Expert: Gas Prices Dropping Like A Rock [CBS2]
More From Consumerist
-
Gas Station Owners Protest Lukoil Price Discrepancies By Ratcheting Fuel Up To $9.99 Per Gallon
-
Sandy Prompts Panic At The Gas Pump, Things Get Heated As Customers Rush To Fill Up
-
California Relaxes Smog Controls In Effort To Bring Down Gas Prices
-
New Jersey Sues Gas Stations For Selling Aviation Fuel As Unleaded Gasoline
-
Despite High Gas Prices, Plenty Of Americans Hitting The Highways & Byways This Labor Day Weekend
@Dabigkid: I’m surprised anyone read that diatribe that long. Here’s exhibit A:
+ Watch video
@stevejust: Nice! Bladefist likes to comment absolutes but cannot take it when they are disputed.
@VikingP77: Not only disputed, but I can’t imagine someone being more wrong about almost everything that comes out of his mouth.
I picked the low hanging fruit, like the idea that the sun only “transfers” energy. But almost everything I’ve ever seen written by the guy is just wrong, and I’m not just saying this because I disagree with his politics. It’s easy to show when someone’s going to fail to understand that the sun is a nuclear reactor, yet talk about now he pwn3ed people “at science.”
It’s too bad it would take too long on some of the more subjective things he says.
My just in time for the up coming elections. By the way who said 3.50 a gal. gas was cheep. If it got down to 1.50 I might be impressed. The experts don’t know what they are talking about, because gas prices are determined by the gas cartel and not so called market forces.
@hustler: Dude, WTF? Too soon. And will be for at least 20 more years. Ass.
@heavylee-again The reason oil companies want to lower prices now is so that by the time the elections role around people will have forgotten about it.