Give It A Crack: Guess The Price of Gas At This Time Next Year...

The current average is $3.268 for regular, down from last year's average of $3.391.

(This all seems rather ridiculous to those of us who remember gas at. $.50 when they first started driving.)

Here's some good news (if you're willing to believe it):

Gas is forecast to drop steadily throughout the next year. And we all have US shale and the easing of sanctions against Iran to thank.

The coming years are expected to provide a huge boost to global output, inverting the structure of the oil market in which supplies have long been rationed by a handful of producers.

Who is the most bummed about this?

The cartel of Mid-east, African and Latin American producers say they'll have to cut production next year as supply rises from countries like the US and Canada.

And here's an interesting tidbit:

America is producing more crude than it is importing for the first time since the 1990s. Within a few years it is expected to be the world’s largest oil producer.

Not sure how that happened with Obama in office--but let's move on.

There are also signs that the US is weaning itself of its oil addiction. It's running 10 percent below its 2005 peak. And here is the real story: Cheap and abundant shale gas is finding its way into train and truck engines.

We haven't seen this new reality show itself at gas stations yet (it's complicated), but let's just say the Saudi's are a little unnerved about the whole thing. What they're most concerned about is the deal the US made with Iran last week on its nuclear program. It's like a big chess game, and the Saudi's worry that the the goal of the US is to cozy up to Iran for its oil market.

The bottom line?

“The time for Opec has passed,” says Fereidun Fesharaki, chairman of Facts Global Energy, a consultancy. “We are entering a new world with plenty of hydrocarbons and a diversity of supply. The direction is clear, it is just a matter of time.”

What say you?


Source: www.ft.com...

One year from now gas will cost 4 one-thousandths of a bitcoin or 6 beaver pelts and plug of tobacco.

I'm going to be optimistic.

I'll go with $2.68.

It's a shame that $2.00 gas would seem like free, lol.

$9.99 9/10 on approved days and only the allotted amount approved per person from the government and under the surveillance eye.

heh maybe not next year but soon.

Is that per Gallon or liter?

If its per gallon you have no idea how good you have it!

Here in Malaysia where the average worker earns about $3 US and hour (if educated) petrol is about $1 US a liter, in Australia its about $1.50 a liter. Roughly $3.50 and $5 respectively.

Sounds like its not too bad after all

How can you complain about the cost in the US when I pay more for fuel per litre at £1.30+ also the UK has more tax then you and we are a small country compared to the big America. The wages in the UK are poor and lots have lost millions on their pensions.

I bet the Petrol price will always be more expensive in the UK then the USA
Lucky I don't drive, I love my Bus

boymonkey74
I bet the Petrol price will always be more expensive in the UK then the USA

Lucky I don't drive, I love my Bus

Wait till all the fares go up for public travel due to the rise in fuel

boymonkey74
I bet the Petrol price will always be more expensive in the UK then the USA

I would agree, and that is because of the VAT. Remove that 20% and fuel costs are reasonably comparable.


As for a guess on what the average price will be this time next year, I'll say $3.89 per gallon.

My higher self is telling me that TPTB don't like us plebs driving our own vehicles so they ramp up the cost and make it so much harder to own and drive. So then we are forced to take public transport and pay their hefty fees. Either way we are screwed.

reply to post by Sk8ergrl


The thing is because we have such an old country with many roads coming from the Roman times (routes anyway) we just have not got the space for so many cars, My household has one car but everyone else on the street has at least 2 some even 4, we will hit gridlock in the UK soon enough so the Government are trying to get people to car share or use public transport.

reply to post by boymonkey74


Don't get me wrong I'm all for public transport but not when they hike the costs up so much that a ticket would cost half your wages a month is stupid. Also they will pass the costs to the passengers when all buses by law will have to go electric or bio fuel.

Current price here in my part of the world is $1.32 per litre. I have watched it wildly fluctuate by 15 cents or less in either direction for over a year. Thing is, to me predicting gas prices based on oil production or shale gas,or what country is trying to invade another,or where the latest hurricane swept through is the equivalent of flipping a coin for the price to go up or down. I have found no rhyme or reason,and the only consistency is that the government "needs" more money,thus adds more taxes,thus there empties our wallets. Dare I throw out a number? Sure... I predict average gas price for December 1 2014 to be $1.45litre,to be wildly fluctuated by 15cents either direction.

reply to post by Sk8ergrl


I get a bus ticket that I can use all over Yorkshire for 20 quid a week...I don't know how much cars cost to run but it is pretty cheap for the service I get.

reply to post by MRuss


I don't believe anything I'm told about gas prices- not the reasons why they mysteriously double, not the promises that they will go back down. When gas went over 2 bucks i said it was never going back under- it did once, for a weekend, and that was it. When it went over 3 bucks, I said the same, and I haven't paid less than 3 since then. When it went over 4, I fully expected that mark to hold as well, but it has bounced up and down from the low 3 dollars to the low 4 dollars here in CA for a while now.

The message I take home is that the market will not sustain $4.50 a gallon indefinitely, so they will take it up to that mark in the priciest markets and then back it down again repeatedly until conditions change and they find a higher sustainable price.

And it doesn't matter where the oil comes from. It could be right under your house and it still wouldn't be your oil, or even America's oil- it will belong to a corporation that goes out of its way not to be an American entity for tax purposes. You'll pay them exacty what you paid opec, and you'll also pay to clean up their mess since they are operating on your home soil and not 12,000 miles away anymore, and if the courts ever cry foul you'll also pay the tax deductible portion of the fines they incur.

Edit to add: Correction- You'll pay them more than you paid opec. It should have occurred to me that they can't possibly be used to paying for American workers at every turn, so when these promises of an energy surplus are realized they will jack the price over 5 dollars and point a finger at the EPA and union workers in order to force their operating costs down, then they will lower prices back to what they were, but keep more of that as profit.

With the new Iran deal Im thinking 2 dollars a gallon. Although TPTB would love to reap in this profit and they know we are content paying up to four dollars a gallon.

reply to post by MRuss


When I started driving Unleaded Petrol was £0.85/litre.

Now its £1.30/litre

I dont think it will ever drop below £1 again which is the kind of price i consider reasonable. At the moment I think its a rip off and such high prices have a negative effect on the economy.