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Gas prices could be less than $3 per gallon by November

By on June 22, 2012

USA Today notes the cost of gasoline could be below $3 a gallon by the November election.

“Nationally, regular gasoline averages $3.47 a gallon, down 47 cents from this year’s high in April and well below the $5-a-gallon fears fanned earlier this year by energy speculators, Middle East tensions and oil refinery glitches that crimped supplies. Those issues appear to be over, at least for now.”

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One Comment

  1. Josh Burgin

    June 22, 2012 at 5:38 pm

    Peter,

    On this very point, I thought you might find this interesting.

    Steve Levine published some very interesting analysis of the global energy market-place observing a well known fact that when energy is cheap America benefits, when energy is expense Russia benefits.

    http://www.foreignpolicy.com/articles/2012/06/19/the_coming_oil_crash?page=0,1

    Enjoy.

    Josh

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