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Gas Futures Point to Pump Relief

The Wall Street Journal -- After a sizzling start to the year, gasoline futures prices are sliding, easing pressures on drivers and the U.S. economy and raising the prospect that prices at the pump could be headed lower still.

Gasoline futures, a key yardstick for wholesale prices, are down 6.3% from their high for the year reached on March 26, as the price of crude oil that gets refined into gasoline has dropped a similar amount amid easing tension over Iran, the world's fourth-largest oil producer.

On Wednesday, futures tumbled for a fourth consecutive trading day, finishing down 1% at $3.2027 a gallon.

The month-long decline already has been reflected in lower pump prices.

The average cost of a gallon of gas nationwide has fallen for two straight weeks, according to the U.S. Energy Information Administration

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Submitted Apr 19, 2012 By: angel4me

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darkknight1 Champion Author Winston-Salem Posts:4,330 Points:894,860 Joined:Nov 2010	Message Posted: Apr 19, 2012 8:49:08 PM Ignore darkknight1 Report Abuse Not coming down very much here but at least it's heading in the right direction---down!
adgam Champion Author Orange County Posts:2,262 Points:500,880 Joined:Nov 2011	Message Posted: Apr 19, 2012 8:38:47 PM Ignore adgam Report Abuse ok
mtaboy Sophomore Author New Jersey Posts:191 Points:54,515 Joined:Dec 2004	Message Posted: Apr 19, 2012 8:38:16 PM Ignore mtaboy Report Abuse The best way to insure that gas prices will continue to fall (Perhaps to $1.99 a gallon by summer) is to KILL ALL THE GREEDY SPECULATORS... THIS ALSO GUARANTEES THE PRICE WILL NEVER RISE AGAIN...
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Apr 19, 2012 8:33:53 PM Ignore briinnc Report Abuse Not on this side of town - up again.
bigmace111 Champion Author Albany Posts:2,718 Points:613,625 Joined:May 2011	Message Posted: Apr 19, 2012 8:33:37 PM Ignore bigmace111 Report Abuse I don't care why it is happening, I'm just enjoying it.
300kmiles All-Star Author Orange County Posts:527 Points:415,580 Joined:Dec 2009	Message Posted: Apr 19, 2012 8:32:06 PM Ignore 300kmiles Report Abuse Could this be motivated by the approaching election?...
marsbars Champion Author Alaska Posts:2,658 Points:1,179,820 Joined:Sep 2006	Message Posted: Apr 19, 2012 8:28:10 PM Ignore marsbars Report Abuse I'll believe it when I see it.
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,861,530 Joined:Jun 2006	Message Posted: Apr 19, 2012 8:27:03 PM Ignore PizzaMon Report Abuse $3.20 a gallon is still over-priced.
saleboss Champion Author Phoenix Posts:3,929 Points:1,177,875 Joined:Feb 2006	Message Posted: Apr 19, 2012 8:25:47 PM Ignore saleboss Report Abuse I'd like to see gas prices in the $3.20 per gallon range again!
RickF350 Champion Author Washington Posts:3,417 Points:705,535 Joined:Apr 2008	Message Posted: Apr 19, 2012 8:22:54 PM Ignore RickF350 Report Abuse It'll never be low enough.
stratlinetime Champion Author Kalamazoo Posts:2,276 Points:562,860 Joined:Feb 2011	Message Posted: Apr 19, 2012 8:20:59 PM Ignore stratlinetime Report Abuse Lets hope we see it soon
mackconsult Champion Author Portland Posts:5,309 Points:864,355 Joined:Jan 2009	Message Posted: Apr 19, 2012 8:18:45 PM Ignore mackconsult Report Abuse That would be nice
2granny Champion Author Michigan Posts:9,570 Points:1,465,280 Joined:Apr 2009	Message Posted: Apr 19, 2012 8:18:28 PM Ignore 2granny Report Abuse Need to see it at the pump. I'm still paying $3.95 a gallon.
ScottTee Champion Author Detroit Posts:4,381 Points:1,061,645 Joined:Mar 2010	Message Posted: Apr 19, 2012 8:14:55 PM Ignore ScottTee Report Abuse let's keep it falling
walkingtall Champion Author Toronto Posts:3,989 Points:1,119,730 Joined:Nov 2004	Message Posted: Apr 19, 2012 8:14:14 PM Ignore walkingtall Report Abuse When i'am going to see it?
HiGramma Champion Author Michigan Posts:1,815 Points:445,690 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:14:09 PM Ignore HiGramma Report Abuse I need to be able to afford to get to work, or learn to play guitar and beg.
larharris2 Veteran Author Tennessee Posts:328 Points:504,575 Joined:Oct 2011	Message Posted: Apr 19, 2012 8:05:41 PM Ignore larharris2 Report Abuse Kp it going.
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 19, 2012 8:04:36 PM Ignore vincentV Report Abuse God bless America!
30mpg80 Champion Author Lexington Posts:10,014 Points:1,485,905 Joined:Nov 2008	Message Posted: Apr 19, 2012 7:59:56 PM Ignore 30mpg80 Report Abuse Will drop more if anyone has the guts to limit speculation
Romey08 Champion Author Virginia Posts:6,311 Points:1,436,490 Joined:Apr 2008	Message Posted: Apr 19, 2012 7:59:21 PM Ignore Romey08 Report Abuse I did see a 4 cent drop today
no25 Champion Author Wisconsin Posts:2,772 Points:769,815 Joined:Oct 2008	Message Posted: Apr 19, 2012 7:58:59 PM Ignore no25 Report Abuse where?
billey32 Champion Author Oklahoma Posts:1,359 Points:351,210 Joined:May 2011	Message Posted: Apr 19, 2012 7:58:17 PM Ignore billey32 Report Abuse Ok
joeborge Champion Author Ventura Posts:2,526 Points:903,605 Joined:Jul 2004	Message Posted: Apr 19, 2012 7:55:34 PM Ignore joeborge Report Abuse haven't seen any yet
relicBC Rookie Author British Columbia Posts:15 Points:6,550 Joined:Feb 2012	Message Posted: Apr 19, 2012 7:53:28 PM Ignore relicBC Report Abuse We haven't seen a drop in gas price in B.C. average price in B.C. is 6.02 a gallon, try that on for size any Americans complaining about their price at the pump at 3.89 a gallon--- AMEN
jwduke1 Champion Author Iowa Posts:15,604 Points:3,068,265 Joined:Apr 2004	Message Posted: Apr 19, 2012 7:52:21 PM Ignore jwduke1 Report Abuse Sure, so O'Bummer can get re-elected! NOT!!
listerone Champion Author Boston Posts:3,375 Points:877,790 Joined:Aug 2008	Message Posted: Apr 19, 2012 7:50:45 PM Ignore listerone Report Abuse Just the other day the Israeli PM made it very clear in a speech that he's fast losing patience with the 9th Century pig fornicators ruling Iran.Translation,watch for gas prices to soar...soon.
Topless2012 Champion Author Twin Cities Posts:2,427 Points:480,090 Joined:Jan 2012	Message Posted: Apr 19, 2012 7:47:52 PM Ignore Topless2012 Report Abuse Sticking it too us.....
GoneUpAgain Champion Author Atlanta Posts:7,600 Points:1,344,275 Joined:May 2004	Message Posted: Apr 19, 2012 7:47:48 PM Ignore GoneUpAgain Report Abuse In time to give obama the chance to take credit and win the election because the American electorate is stupid to know otherwise.
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Apr 19, 2012 7:47:40 PM Ignore iceman11 Report Abuse not any lower here
craigsf38 Champion Author Rochester Posts:5,708 Points:1,509,280 Joined:Jun 2008	Message Posted: Apr 19, 2012 7:42:59 PM Ignore craigsf38 Report Abuse Where, when and the station owners will be stubbornly slow here
mattpolska Veteran Author Winnipeg Posts:298 Points:82,570 Joined:Nov 2010	Message Posted: Apr 19, 2012 7:42:50 PM Ignore mattpolska Report Abuse 3.75 would be a relief to candians dont complain stevencr
stevencr Champion Author Ohio Posts:5,646 Points:1,432,815 Joined:Mar 2009	Message Posted: Apr 19, 2012 7:41:51 PM Ignore stevencr Report Abuse I sure don't consider $3.75 gas, relief at the pump.
Ready Eddie Champion Author Twin Cities Posts:5,771 Points:1,342,770 Joined:Feb 2003	Message Posted: Apr 19, 2012 7:40:40 PM Ignore Ready Eddie Report Abuse When
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Apr 19, 2012 7:34:21 PM Ignore mgune9 Report Abuse so when will we start hearing from the speculators about their big loses
turbosaab Champion Author Cleveland Posts:19,009 Points:2,339,220 Joined:Sep 2006	Message Posted: Apr 19, 2012 7:30:15 PM Ignore turbosaab Report Abuse I'll believe it when I see it.
Martillo Champion Author Dallas Posts:1,594 Points:729,160 Joined:Nov 2008	Message Posted: Apr 19, 2012 7:29:20 PM Ignore Martillo Report Abuse OK
julesTN Veteran Author Nashville Posts:383 Points:164,870 Joined:Aug 2011	Message Posted: Apr 19, 2012 7:29:10 PM Ignore julesTN Report Abuse nogas714 is right - they "say" it's because they have to mix the summer gas at the refinery...and of course it's psychology to think we will be "happy" with $4.00/gal gas soon, donchaknow, when it comes down from $4.50/gal!
NoGas714 All-Star Author Indiana Posts:738 Points:750,235 Joined:May 2005	Message Posted: Apr 19, 2012 7:23:25 PM Ignore NoGas714 Report Abuse Memorial day isn't here yet. They'll certainly use that as an excuse to jack prices... They do it every year.
REKEY Champion Author South Carolina Posts:8,569 Points:1,697,465 Joined:May 2008	Message Posted: Apr 19, 2012 7:22:50 PM Ignore REKEY Report Abuse Point and go "Ha ha ha not for you!"
starfishBC Rookie Author Vancouver Posts:1 Points:28,350 Joined:May 2011	Message Posted: Apr 19, 2012 7:20:43 PM Ignore starfishBC Report Abuse Price still needs to go even lower.
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Apr 19, 2012 7:19:53 PM Ignore LostToo Report Abuse It is $3.79 Here today. That is a little better considering last week it was $3.89.
carefrey Champion Author Orlando Posts:5,525 Points:1,157,535 Joined:Sep 2009	Message Posted: Apr 19, 2012 7:19:47 PM Ignore carefrey Report Abuse When am I going to see it?
bevmill Champion Author Georgia Posts:2,572 Points:598,595 Joined:Apr 2006	Message Posted: Apr 19, 2012 7:18:03 PM Ignore bevmill Report Abuse ok
Mr Tex All-Star Author Dallas Posts:868 Points:2,492,705 Joined:Jan 2004	Message Posted: Apr 19, 2012 7:17:07 PM Ignore Mr Tex Report Abuse Looking forward to a drop at my local station.
Tucker16 Champion Author Ottawa Posts:1,154 Points:542,655 Joined:Jul 2006	Message Posted: Apr 19, 2012 7:16:53 PM Ignore Tucker16 Report Abuse I'll believe it when I see it.
pnivens Veteran Author Georgia Posts:426 Points:436,515 Joined:Oct 2011	Message Posted: Apr 19, 2012 7:15:59 PM Ignore pnivens Report Abuse Finally but the summer is coming.
Foxt Champion Author Minnesota Posts:5,255 Points:2,019,355 Joined:Jul 2006	Message Posted: Apr 19, 2012 7:15:39 PM Ignore Foxt Report Abuse Who pays $3.20 a gallon for gas?
bailey1OH Veteran Author Cleveland Posts:275 Points:864,845 Joined:Jul 2008	Message Posted: Apr 19, 2012 7:09:23 PM Ignore bailey1OH Report Abuse Good news
dano328 All-Star Author Dallas Posts:557 Points:216,310 Joined:May 2011	Message Posted: Apr 19, 2012 7:08:28 PM Ignore dano328 Report Abuse I'm seeing it, but still not liking the price.
RBob Champion Author Portland Posts:3,369 Points:2,346,900 Joined:May 2004	Message Posted: Apr 19, 2012 7:07:13 PM Ignore RBob Report Abuse Have seen almost no change at the pump...and then more up than down. Go figure-right!
Senrac Champion Author Lincoln Posts:1,594 Points:305,635 Joined:Mar 2010	Message Posted: Apr 19, 2012 7:06:03 PM Ignore Senrac Report Abuse not enough or fast enough