You are not logged in.


Small Submarines Military Mobile Hospitals

Dear visitor, welcome to Oil & Gas Forums - Worldoils. If this is your first visit here, please read the Help. It explains how this page works. You must be registered before you can use all the page's features. Please use the registration form, to register here or read more information about the registration process. If you are already registered, please login here.

1

Sunday, January 9th 2011, 4:10pm

Gas Prices in 2012

Ex-Shell Oil boss: $5-a-gallon gas possible by 2012

After a couple years of relatively low gas prices, $5-a-gallon gas could come as soon as 2012, predicts former Shell Oil President John Hofmeister, according to CNN Money. He gave his forecast in a television interview.

The good news is that $5 is his worst case prediction. Other analysts, including Tom Kloza of Oil Price Information Service, see gasoline reaching $5 a gallon in the new decade, but not by 2012. A gallon of regular gas averaged $3.06 a gallon yesterday, AAA reports.

The predictions take into account a growing global economy tightening the world's oil supply. Holfmiester, seen the photo at right from 2006, cites China's and India's growth and President Barack Obama's crackdown on offshore drilling as the primary reasons for the short-term gas hike.

There's little that Americans can do to affect the price of oil, according to CBS News. According to the EIA, while it will take developed countries like the United States, Japan and Europe until after 2020 to reach 2007 levels of oil consumption, the developing economies of the world will bring us back to pre-2007 levels of oil consumption by the end of this year.

World Oil and Gas Prices

Leron

Beginner

2

Saturday, January 22nd 2011, 6:21pm

Gas Prices will hit $4 per gallon by summer 2011 ?

AAA: Gas to approach $4 per gallon by summer
Alan Mauldin
The Moultrie Observer The Moultrie Observer Fri Jan 21, 2011, 10:44 PM EST

MOULTRIE — Motorists stung by gasoline prices that recently have topped $3 may feel an even bigger pain in the wallet in a few months with prices possibly reaching the $4 mark.

Economic growth in Asia is fueling demand for gasoline, and investors are seeking to put more money into commodities as they fear inflationary pressures.


"We started to see prices go up in September," said Jessica Brady, a AAA spokesperson in Tampa, Fla. "They've steadily gone up through the new year. You're probably going to see prices stay around that price range through the end of the month, maybe through February."

During the spring and summer prices are expected to increase again, reaching a range of $3.35 to $3.75 depending on location, before easing again, she said.

"I've been asked if it's going to hit $4," Brady said. "It's possible. If we do hit $4, I don't think that's sustainable."

But if this summer’s hurricane season is an active one, it could cause shutdowns at Gulf of Mexico oil rigs, which could throw more volatility into the mix and possibly lead to more price spikes, she said.

On Thursday, AAA's gas price gauge pegged the average price of regular unleaded across the country at $3.11 per gallon, up two cents from the previous week and 13 cents from a month earlier. A year ago the average was $2.73.

"A big role in that (price increase) is the explosive growth from Brazil, China and India," said Aaron Johnson, an economics professor at Darton College. "In fact, the developing countries have outperformed the advanced economies, so that is certainly playing a role in higher gas prices.


"On a smaller scale, I also believe that expansionary policies from the Fed are also causing gas prices to rise because investors, who fear inflation, take their dollars out of bonds and the stock market and into other commodities such as crude oil."

Ultimately, he said, higher gas prices means higher energy and food prices for American consumers.

"In addition to this being a burden to the consumer as they buy less for each dollar, this also places downwward pressure on businesses as energy and food costs drain their profitability."

Motorists can help ease the pain somewhat by taking a few simple steps, Brady said. Basic auto maintenance, including clean fuel injectors and filters, keeping tires properly inflated and removing excess weight from vehicles can lead to a gain in efficiency of 3 to 10 percent.

AAA also has a smart phone app available for iPhone and Droid models that steers drivers to the cheapest gas in the area, she said. Additional information is available at <link removed>

<link removed>

3

Saturday, October 13th 2012, 6:22am

This is simply burden for the budget of families. They can increase oil price if there is an increase also with salary. This month is little rough for me, the cost of fuel and food is growing. Another stress for bread winners.

4

Tuesday, October 16th 2012, 9:26am

Most of the families are unable to survive with the increase in gas, oil and food item prices. Govt should increase these prices along with the increase in salary!! :(

5

Tuesday, October 1st 2013, 12:44pm

Govt. can increase oil price if there is an increase also with salary.

Rate this thread

Private jets for sale Oilfield & Minefield Housing