Unlikely! At this point, it appears like fuel prices will never ever go down. It has steadily risen from $ 1.90/ gallon to its present state of $ 4.50/gallon. Some men and women say that gas rates will go down in the coming months. Some very same otherwise and predict that the only path fuel prices will be going is up, up and up.
The news today is a barrage of reports stating that fuel costs have hit new heights. Seeing men and women becoming interviewed at gas stations has turn into a standard factor. Individuals are outraged by the impossibly high rates. But, the factor is – there is practically nothing to be completed. Person laments will only fall on the deaf ears of oil giants. They don’t care. They have their personal crisis in their hands. And what crisis is that you ask? The difficulty is that Oil Titans are now facing the reality that OIL IS Running OUT. They themselves can not decrease the price tag of fuel. If they did, they would quickly locate themselves filing for Bankruptcy.
Hold off your woes and listen to what the optimists have to say about the situation of fuel rates: They predict that fuel will go back down to at least $ 2.50/gallon right after the 2008 Presidential election. Would not that be a dream? They say that the current heights in the price tag of fuel are only brought on by the unrest in the economy. And as quickly as the economy settles down, so will fuel rates.
Those who see the planet with a “the glass is half empty” philosophy have this to say: The value of fuel will in no way go down once again. It is predicted that it will attain a dizzying $ 12/gallon by 2009. There is no space to back down due to the fact the oil organizations themselves are being cornered. Oil is operating out and there is absolutely nothing that they can do.
Both sides have made great points. It is accurate that the current downfall of the US dollar and the US economy has added to the increasing price of fuel. But, that is not all that’s causing it. As pessimists have stated, oil reserves are drying up and oil firms have no exactly where to go.
So, will gas costs ever go down again?
Right here is a more realistic answer: There is a possibility that fuel prices will go down a little bit. Possibly it will come about with the appointment of a new American president. But a prediction of $ 2.50/gallon is really unlikely. Shoppers would be lucky if gas costs dropped to $ three.30/gallon. But the predicted drop in oil prices will not continue for long. Right after a few months (even weeks) charges will skyrocket after far more. The $ 12/gallon prediction is hugely plausible.
Oil Was Never ever Low-cost
The point is – Oil was by no means cheap. It was only an illusion portrayed by the gas companies. They themselves did not recognize it until recently. Certain, drilling, pumping, refining and transporting fuel might cost tiny, but the actual damage is on the atmosphere. Nowadays, the globe is in facing environmental problems that are stacking up like dominoes. It would take billions and billions of dollars and decades just to patch issues up. That is the genuine value of oil.