CNN Reports: After topping out at more than $100 a barrel in July, oil hit a four-year low of $32.40 a barrel on Dec. 19. Prices have since crept up to $47 a barrel on Monday. Jason Toews, co-founded of GasBuddy.com, says:
Oil companies “don’t like to shock us, they like to ease us in to higher prices.”
“If prices rise too quickly, it could cause a dramatic drop in demand”, he added.
Toews is expecting gas to reach back up to $2.75 by the summer.
Have you submitted your prediction for the 3/6/9 contest yet? You’ve got 5 more days!
7. January 2009 at 8:18 pm
Lol nice pic! That man is not gonna be me though! I just found this today petrofix.com. I won’t be “easing in” to higher prices…
9. January 2009 at 4:53 pm
Grrr.. Spam…
To delete or not delete, that is the question. Hrm… My coffee was good this morning, so I’ll let this one slide.