Analysts predict 50 cent drop in gas prices before summer

oil experts are predicting the price will actually drop as much as 50 cents per gallon by the time summer hits. eddie garcia joins us live from a gas station on rio grande near i-40 with the latest. i've been talking to so many people out here who say they're slapped by "sticker-shock" every time they fill their tanks -- and believe me they welcome the news of a 50 cent drop. let's show you what it would mean for a small suv just like this one. right now the average price for a gallon of gas in albuquerque is 3.74 a gallon. to fill this suv's 16 gallon tank it costs $59.84. now lets plug in the savings. if gas drops 50 cents by this summer -- it will cost a little less at 51.84 to fill the same suv subtract the difference that's 8 dollars per tank that you're saving -- and if you drive a lot -- it can add up. please! i will be able to take trips and maybe i'll be able to see movie too. i don't believe that, i would say maybe 50 cents higher or more experts say a stronger dollar and boosted production at gas refineries is making the barrel of oil fall. in fact this week we had the largest weekly drop in oil in two and a half years. even though 50 cents will be a relief -- it still leaves gas prices well above 3 dollars a gallon. so it'll still cost you a lot to fill this suv -- but put at least a few bucks back in your pocket.

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[ispepteid1]

This is all bullshit - They said 2 weeks ago it was going to drop in 2 weeks and it actually went up.

But get over it, people. Stop bitching. The oil Co's have you by the frickin' balls. They KNOW the worst you are going to do is have a bitchfest on twitter about gas prices. And in the end, you will keep buying gas. They KNOW that "Mr Thug with-a-flat-billed-hat" and "Mrs slightly-overweight single-mother going-to-nursing-school" aint gonna be caught dead walking or riding the bus anywhere...

[TrunksXV]

FAT CHANCE! It just went up to 4.09 here!

[ispepteid1]

The oil companies/specs just pretty much wait around for any little excuse to drive up the prices. They see something happening in the middle east: "Oh, civil unrest there! Time to jack-up the gas price". They do that so you will be angry at the Muslim/middle east f*ckers and not some fat white greedy oil exec. The oil co's know Americans might protest the gas price, so they invent a scapegoat so they can say "look, its those guys, not us, be mad at them! We have no control over the price"

[ispepteid1]

The American consumer is so f*cking stupid and easy to trick. Everyone on twitter is all like: "Aw yea, gas prices are gonna go down I hear" - And everything will be all good right? Gas prices arent going down, they are going UP! They increased a F*CKING DOLLAR since january. And they are going to "drop" 50 cents this summer? Final result: They increased 50 cents in 4 and a half months! Everyone would have been pissed at 3.50 gas in Feb, but 3.50 is ok now b/c we had a month-long taste of $4 gas

[JohnLeeMD]

@dinohoax If they're "predicting", what makes you think it won't happen. I believe it will happen. But it's only temporary of course. And if it lulls you (which it probably will) into thinking all is better, then you're stupid. Think of it as a ploy, to lure in more sheep for slaughter.

Nothing's changed. Our economy has never been cured, so it cannot heal and get onto the road to recovery. Anything like this is only temporary. Continue to save money (not cash), curb your spending, etc.

[dinohoax]

I will believe it when I see it which is never. Folks, we hit peak oil in 2005 and prices are rising.

[beancube2010]

There are no supply shortage, Why should we seesaw prices with those psychopaths? Should their mercies become our domestic energy policies now? Come on, we, Americans, are better than that. We should at least do away this kinds of things for our kids, shouldn't we?