$1.80 has arrived... (money, cost, inflation, prediction)

[shibainu]

I called in the beginning of the year that gas would be $150 dollars and by bush exist from office it would be at $45...looks like it has happened. In 2003 I said that gas would reach to $5.00 and then go back to $1.85...looks like they announced it is average 1.80...It is nice to get the prediction but I wish it never happened. Gas will stay low for a few years and then climb back to 2 dollars. I think it will go as low as 1.50 by march.
Oil, gasoline hit 4-year lows as economy sags - USATODAY.com

[Flamingo13]

A friend of mine paid $1.55 today at Costco - I'm so jealous.

[wanneroo]

Some say a gallon could be a dollar soon.

Too many holes in the ground, too much oil on the market. And no matter what opec says they aren't going to stop pumping.

[Nepenthe]

There's a gasoline price ETF: UGA.

There's no inverse version. I'm not sure if UGA is shortable, as the short sale tool is down after hours, but there are calls and puts. It has gone from $65 to $20 in five months.

I love creative ETFs (just wish there was an inverse to balance it out).

The option volume is pretty low and there are no LEAPS, otherwise I might think about picking up some long-term calls on UGA.

[tallrick]

I figured it would drop to 40 dollars by the end of the year. However, I expect it to be over 100 next year when the fed pumped inflation hits. No matter, diesel fuel prices are still too high for my taste and my algae fuel project continues.

[HappyTexan]

Well the production cost is about $65 per barrel so right now it's trading below production cost.
Nevermind inflation..the ME has to raise it just to cover production.

[Waterlily]

One or two gas stations in my citye have gas at $1.75 per gallon. I'm liking that. Prices seem to just keep on droping. How low can they go?
if it keeps on it's going to seem like the 1960's all over again except the economy is not as good.

[bchris02]

$1.31 in Kansas City, MO. $1.49 here in my area.