Gas Under $3: How Low Can It Go?


gasSeems like only yesterday U.S. motorists feared summer gas prices hitting $5 a gallon. Yet right now in some markets the price of gas is falling. In St. Louis, for example, at some stations, it’s $2.99. How much lower might it go?

Andrew Lipow, president of Lipow Oil Associates in Houston, says he expects to see the average price nationwide to fall to $3 a gallon by Halloween, “barring the Middle East imploding or exploding” or “a major hurricane impacting the Gulf coast.”

In South Carolina and in Houston, he says, the price of gas already is below $3. “In South Carolina, I’ve even seen $2.73 at some stations.”

What accounts for the decline?

The reasons, says Lipow, include a decline in oil prices, which have been falling for months. The supply of oil right now is abundant. Saudi rates of production, Lipow says, remain high. He expects them to remain high all summer. U.S. inventories are bigger now than at any time in the past 22 years.

An embargo on Iranian crude begins this weekend; but the market, says Lipow, “is discounting any significant supply disruption that might result.”

{Consumer Report/ Newscenter}


  1. Who is to be blamed for this low prices? If it is the democrats then no one should vote for them. because we have so much money that we all want to pay much higher prices for everything. Only those that don’t have allot of money should vote for the democrats.

  2. won’t remain low for long

    GAS high prices will return & continue rising as Hashems plan is carried out

    1)build up the hatred of the muslims-i.e. Bnei Yishmael, the last ones to fight klal yisroel before mashiach comes-against klal yisroel

    2)get even Israel’s best friend-the USA-to go against them, by putting it in the hands of a muslim Obama.

    3)get iran (GOG) to act on its nuclear plan R”L & the rest of the world join them (including the USA) into BRING MILCHEMES gog u’magos upon klal yisroel towards bringing Mashiach.

    with a few other tragic steps between these that is all in Hashems hands & can still be erased if klal yisroel does teshuva before its time comes.