News, Ohio station advertises gas for $9.09 a gallon. (2011, cost, analysis)

[John1960]

WEST CHESTER, Ohio—Motorists hope one Ohio service station's mistake wasn't a sign of the future. For several hours on Thursday, a Speedway station in the Cincinnati suburb of West Chester advertised regular for $9.09 a gallon on a sign high above an interstate highway.

Ohio station advertises gas for $9.09 a gallon - Boston.com

[bchris02]

By summer/fall 2009, that will be the real price, and it isn't stopping there so get ready.

[KevK]

Originally Posted by bchris02

By summer/fall 2009, that will be the real price, and it isn't stopping there so get ready.

No it won't. By fall of this year, it will be under $3.

[Wild Style]

Originally Posted by KevK

No it won't. By fall of this year, it will be under $3.

you do know that the price of gas falls every year during a certain time of year; then it goes back up. This is why you hear commentators refer to gas prices as "seasonally adjusted"

[KevK]

Originally Posted by Wild Style

you do know that the price of gas falls every year during a certain time of year; then it goes back up. This is why you hear commentators refer to gas prices as "seasonally adjusted"

Been that way for years and years. Gas starts going up when DEMAND goes up at the beginning of the summer driving season while at the same time, SUPPLY goes down while refineries shut down to switch to the summer gas blends.
Gas usually peaks out around July 4th and then starts falling to its low prices in September and November. It then increases as demand goes way up over the holiday and then falls back until May.
I do not expect this year to be any different except for that gas will not fall as far as it did last year and will probably be higher next summer. The trend is up but these high prices will not stick for long.
Here are my predictions:

July 4th $ 4.20
August 31 $3.75
September 31 $3.25
Oct 31 $2.85
Nov 31 $3.23
Dec 31 $3.12
Jan 31 $3.00
May 31 $4.20
July 4th 2009 $4.55
July 4th 2010 $4.67
July 4th 2011 $4.78

These of course are on the assumption that there are no supply problems. If Iran is bombed or a hurricane hits the Gulf, you can add alot more to that!

[Wild Style]

Kev,

I think a good analysis would be to track gas prices year over year for July from say 1998 till now. See if there is a pattern in how much gas prices have gone up year over year.

[coldwine]

Originally Posted by bchris02

By summer/fall 2009, that will be the real price, and it isn't stopping there so get ready.

Gas won't be at $9 a gallon. If it were that high, it would implicate other things that would have drastically changed the face of the United States... The very least of which is the cost of filling up a personal commuter gas tank.

[SpeedyAZ]

Gas won't hit $9/ gallon anytime in the near future and I don't know if it will at all. If gas ever hits that high, there will be mass chaos and we will be on the downward slide. The cost of filling up my SUV would be the LEAST of my worries.

[KevK]

Originally Posted by SpeedyAZ

Gas won't hit $9/ gallon anytime in the near future and I don't know if it will at all. If gas ever hits that high, there will be mass chaos and we will be on the downward slide. The cost of filling up my SUV would be the LEAST of my worries.

It could hit $9 if there is a major hurricane in the gulf or if there is a major war in the middle east- like if Israel nukes Iran. But the price of gas would probably be the least of our worries if any of that happens.

[Wild Style]

Originally Posted by SpeedyAZ

Gas won't hit $9/ gallon anytime in the near future and I don't know if it will at all. If gas ever hits that high, there will be mass chaos and we will be on the downward slide. The cost of filling up my SUV would be the LEAST of my worries.

Mass chaos? That's a bit much. its near that in Europe and we have not seen street riots. They adjusted and so will America.