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burn_this_city · 12-03-2007, 02:34 PM

I don't really believe it. Gas prices normally go up during the spring and summer due to increased demand, and the routine shut downs of refineries across north america. That being said I don't see the price of oil going high enough to support $1.50 a liter. In the last couple of weeks we have seen the all-time high of $98 a barrel. Since then oil futures have lost over 10% of their value and sit somewhere close to $88.. Everyone is betting that OPEC will open the taps and release more oil to the market after a meeting next week. If this occurs the price will go down to the mid $70 level for the next while. This is all happening while our dollar still sits at parity and our increase buying power should help to keep the prices somewhat lower... Like thunderball said, no one can ever bet on these things even 2 weeks down the road let alone 6 months.. If we see a lot of supply distruptions like in august of 2005 ala Katrina it could easily spike to $1.50, but the chances of that happening are pretty low.

12-03-2007, 02:34 PM	#7
burn_this_city Franchise Player Join Date: Mar 2007 Location: Calgary Exp:	I don't really believe it. Gas prices normally go up during the spring and summer due to increased demand, and the routine shut downs of refineries across north america. That being said I don't see the price of oil going high enough to support $1.50 a liter. In the last couple of weeks we have seen the all-time high of $98 a barrel. Since then oil futures have lost over 10% of their value and sit somewhere close to $88.. Everyone is betting that OPEC will open the taps and release more oil to the market after a meeting next week. If this occurs the price will go down to the mid $70 level for the next while. This is all happening while our dollar still sits at parity and our increase buying power should help to keep the prices somewhat lower... Like thunderball said, no one can ever bet on these things even 2 weeks down the road let alone 6 months.. If we see a lot of supply distruptions like in august of 2005 ala Katrina it could easily spike to $1.50, but the chances of that happening are pretty low.