Christian Financial Forums

[CharlesT]

Right now, gas in my area (central Kentucky) is around $1.89 a gallon, if you look around a bit. The high price is $2.05.
I'm wondering if anyone has any ideas about where this is going to wind up? Prices have dropped like a rock in the last several weeks, and with the economy the way it is, I am praying that gas prices stay where they are (or keep dropping!) for at least awhile.
Any ideas?

[pochax]

i'm no energy expert but my understanding is that the prices have dropped this low (as well as oil prices) because global demand is down due to the economic crises ravaging the entire world. my suspicion therefore is when the markets start to stabilize, there will be a trend towards higher gas prices but it may not go up as fast as it did earlier in the year if speculators were indeed a major cause of those record highs as some experts think they were. finally, i heard a rumor (unconfirmed) that OPEC "secretly" wants to have oil settle at $100/barrel as a "fair" price. obviously we are well below that, so OPEC can increase or decrease the supply of oil to target that price as they so desire, if indeed that rumor was true. In the long-run, if alternative energy sources become available and the last gas price crisis startled enough of America to continue their new "gas-saving" habits (buy smaller cars, commute more, fewer road trips, etc etc), then a lot of the pressures to increase gas prices won't be there.

[bstewart]

I am from Alabama and the price here is averaging $2.29 per gallon. I believe God spoke to me about the gas prices dropping around the end of September.

[Bob]

I just got 1.99 last night and I am pumped I don't know what the future holds, but I am happy to see it lower, even if it is only temporary

[matt]

Makes me wish I had a large reserve tank I could buy up a bunch now and save it for next summer

[Amatachick]

I just saw $1.97 in my little town in MI this morning. It would be great if these prices stay around at least for the next couple months. We aren't adjusting our Gas budget yet because we figure with all the Holiday travel we'll be doing it will probably equal out (We have family all over MI that we go to visit). Has anyone here adjusted their Gas budget? Just curious.

[matt]

I don't really budget, so I haven't adjust my gas budget

[mutex]

Prices will be low till the economy turns around, but the companies will charge what the consumers will pay. Till Demand goes down, price will go up