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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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honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Apr 22, 2012 7:18:01 AM Ignore honda0105 Report Abuse heydano: I totally agree.
heydano67 Champion Author California Posts:1,676 Points:359,485 Joined:Feb 2012	Message Posted: Apr 21, 2012 2:54:36 AM Ignore heydano67 Report Abuse Not falling fast enough for me
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Apr 20, 2012 11:12:35 PM Ignore honda0105 Report Abuse I'll believe it when I see it.
A2J Champion Author Richmond Posts:3,085 Points:604,900 Joined:Aug 2011	Message Posted: Apr 20, 2012 10:28:42 AM Ignore A2J Report Abuse OK
Harry813 Champion Author Iowa Posts:3,010 Points:663,590 Joined:Jul 2011	Message Posted: Apr 19, 2012 11:25:06 PM Ignore Harry813 Report Abuse Prices at the pump still prove otherwise .
Zonk Champion Author Michigan Posts:6,491 Points:2,104,715 Joined:Oct 2005	Message Posted: Apr 19, 2012 11:23:46 PM Ignore Zonk Report Abuse I don't project any drastic cut in pump prices.
badspots Champion Author Houston Posts:2,081 Points:677,060 Joined:Feb 2011	Message Posted: Apr 19, 2012 11:18:53 PM Ignore badspots Report Abuse Ok.
Buddy2264 Champion Author Tampa Posts:11,664 Points:2,361,920 Joined:Oct 2005	Message Posted: Apr 19, 2012 11:16:29 PM Ignore Buddy2264 Report Abuse I have not seen a big drop but I am guessing people are conserving more. As inventory rises either the price will drop or they will just ship it elsewhere for a better profit.
Cashless Champion Author Akron Posts:3,530 Points:736,255 Joined:Apr 2011	Message Posted: Apr 19, 2012 11:16:14 PM Ignore Cashless Report Abuse I'll wait and see, like the rest.
rf6480 Champion Author Miami Posts:1,538 Points:549,510 Joined:Mar 2011	Message Posted: Apr 19, 2012 11:14:33 PM Ignore rf6480 Report Abuse I'm not seeing any 6% drop
joel27nc Champion Author Raleigh Posts:10,547 Points:1,860,320 Joined:Mar 2008	Message Posted: Apr 19, 2012 11:14:18 PM Ignore joel27nc Report Abuse Still watching
jkpsr Champion Author New Jersey Posts:4,089 Points:1,103,855 Joined:Jun 2005	Message Posted: Apr 19, 2012 11:13:24 PM Ignore jkpsr Report Abuse I think that more regulation on the speculators will result in much lower prices and cut the Wall Street Pigs out of their ill-gotten gains. Money is too cheap to allow speculation to continue.
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,071,675 Joined:Mar 2004	Message Posted: Apr 19, 2012 11:13:05 PM Ignore miser709 Report Abuse "Gas Futures Point to Pump Relief" My magic 8 ball says "Doubtful".
umitb Champion Author Indianapolis Posts:3,681 Points:844,415 Joined:Apr 2010	Message Posted: Apr 19, 2012 11:12:19 PM Ignore umitb Report Abuse Agree, but not enough.Still high.
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: Apr 19, 2012 11:12:19 PM Ignore crreed1 Report Abuse 15 miles away it has droped 6 cents a gal
lolobond All-Star Author New Orleans Posts:724 Points:620,685 Joined:Dec 2010	Message Posted: Apr 19, 2012 11:11:42 PM Ignore lolobond Report Abuse Good!!!
nomad228 Champion Author Columbus Posts:3,117 Points:575,140 Joined:Feb 2011	Message Posted: Apr 19, 2012 11:11:31 PM Ignore nomad228 Report Abuse if only U.S. regular working man(meaning both women and men) could get in on this futures stuff then we could afford skyrocketing taxes and gas prices along with everything else. : )
JamesCalvin Champion Author Lancaster Posts:3,196 Points:521,505 Joined:Nov 2011	Message Posted: Apr 19, 2012 11:11:20 PM Ignore JamesCalvin Report Abuse Never!
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Apr 19, 2012 11:10:48 PM Ignore Blue_Cruzer Report Abuse Don't hold your breath.
abacus44 Champion Author Toms River Posts:3,490 Points:750,440 Joined:Jan 2011	Message Posted: Apr 19, 2012 11:10:44 PM Ignore abacus44 Report Abuse Not holding my breath.
bikechuck Champion Author Indianapolis Posts:7,021 Points:2,065,070 Joined:Apr 2006	Message Posted: Apr 19, 2012 11:10:39 PM Ignore bikechuck Report Abuse At what point is that going to happen?
HEBster Champion Author Kentucky Posts:8,798 Points:2,375,975 Joined:May 2006	Message Posted: Apr 19, 2012 11:09:08 PM Ignore HEBster Report Abuse Not doin' much in Ky!
SparkieMi Champion Author Kalamazoo Posts:3,271 Points:590,335 Joined:Sep 2011	Message Posted: Apr 19, 2012 11:08:26 PM Ignore SparkieMi Report Abuse No where near to what the pump prices jumped up to lately!!!!!
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Apr 19, 2012 11:06:11 PM Ignore Toppers Report Abuse Dropped 11 cents in the ATL...
PCWHIZ All-Star Author Denver Posts:579 Points:441,370 Joined:May 2004	Message Posted: Apr 19, 2012 11:06:08 PM Ignore PCWHIZ Report Abuse Could this finally be some good news?
marlita Champion Author Dayton Posts:3,312 Points:785,130 Joined:Mar 2010	Message Posted: Apr 19, 2012 11:05:27 PM Ignore marlita Report Abuse I agree still to high
Is246 Champion Author Albuquerque Posts:1,019 Points:428,710 Joined:Apr 2011	Message Posted: Apr 19, 2012 11:05:26 PM Ignore Is246 Report Abuse Agree, but not enough.
TheSicilian Champion Author Jacksonville Posts:5,389 Points:1,471,700 Joined:Feb 2009	Message Posted: Apr 19, 2012 11:05:25 PM Ignore TheSicilian Report Abuse point away
jetskijerry Champion Author North Carolina Posts:3,906 Points:774,220 Joined:Mar 2011	Message Posted: Apr 19, 2012 11:04:03 PM Ignore jetskijerry Report Abuse still too high...
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Apr 19, 2012 11:04:01 PM Ignore HKL Report Abuse OK
jetskijerry Champion Author North Carolina Posts:3,906 Points:774,220 Joined:Mar 2011	Message Posted: Apr 19, 2012 11:03:38 PM Ignore jetskijerry Report Abuse no change here.
tampacrvdriver Champion Author Tampa Posts:3,361 Points:714,160 Joined:May 2011	Message Posted: Apr 19, 2012 11:03:05 PM Ignore tampacrvdriver Report Abuse I'm sure they do.
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Apr 19, 2012 11:02:21 PM Ignore tippybuddy Report Abuse this sounds like good news too
jem069 Champion Author Detroit Posts:2,548 Points:689,030 Joined:Jan 2011	Message Posted: Apr 19, 2012 11:01:43 PM Ignore jem069 Report Abuse ok
mcmonsta Champion Author Honolulu Posts:3,232 Points:820,270 Joined:Sep 2009	Message Posted: Apr 19, 2012 10:59:13 PM Ignore mcmonsta Report Abuse keept falling....like a lead balloon...
humblepie Champion Author Toledo Posts:34,304 Points:2,373,320 Joined:Mar 2006	Message Posted: Apr 19, 2012 10:56:22 PM Ignore humblepie Report Abuse dont hold your breath
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,570 Joined:Oct 2008	Message Posted: Apr 19, 2012 10:55:26 PM Ignore DustyHorse Report Abuse Gas has gone down a few pennies in this area.
kingpin6 Champion Author Arkansas Posts:2,920 Points:1,561,725 Joined:Jul 2007	Message Posted: Apr 19, 2012 10:54:36 PM Ignore kingpin6 Report Abuse Don't know where they are seeing lower gas prices. They have certainly not dropped here!
gilfarm Champion Author Alabama Posts:6,806 Points:1,950,790 Joined:Sep 2005	Message Posted: Apr 19, 2012 10:53:17 PM Ignore gilfarm Report Abuse Slow to fall fast to rise!
naiiawah Champion Author Boise Posts:2,400 Points:691,800 Joined:Mar 2011	Message Posted: Apr 19, 2012 10:52:40 PM Ignore naiiawah Report Abuse I'll be amazed to see that 1% make it to the pump prices.
pgerassi Champion Author Milwaukee Posts:10,906 Points:2,133,555 Joined:Apr 2007	Message Posted: Apr 19, 2012 10:52:29 PM Ignore pgerassi Report Abuse Over supply meet lower demand.
jdphipps Rookie Author Spokane Posts:14 Points:99,580 Joined:May 2011	Message Posted: Apr 19, 2012 10:51:35 PM Ignore jdphipps Report Abuse Gas is still going up here.
DEG Champion Author Las Vegas Posts:17,630 Points:3,496,655 Joined:Jul 2003	Message Posted: Apr 19, 2012 10:49:48 PM Ignore DEG Report Abuse I doubt that prices will be going down significantly while Obama is in office.
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Apr 19, 2012 10:49:31 PM Ignore jessek Report Abuse Time will tell.
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Apr 19, 2012 10:49:04 PM Ignore abcdMA Report Abuse it is still higher than it was last year
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Apr 19, 2012 10:48:09 PM Ignore themaninthehat Report Abuse @hagar2935 is apparently missing his meds. WSJ is a Rupert, therefore Obama hating publication. @hagar2935 has gone palin (gone rogue) Reelect the President Obama 2012
Beaveronparade Champion Author Hartford Posts:2,108 Points:636,785 Joined:Mar 2011	Message Posted: Apr 19, 2012 10:46:42 PM Ignore Beaveronparade Report Abuse I think we are ALL ready for some relief at the pumps! Bring it on.
flyfast Champion Author Kansas City Posts:9,258 Points:1,827,760 Joined:Jan 2008	Message Posted: Apr 19, 2012 10:46:03 PM Ignore flyfast Report Abuse will have to see it
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Apr 19, 2012 10:40:21 PM Ignore hagar2935 Report Abuse Not going to happen as long as the DemocRATs stay in office!!!!!! NOBAMA 2012!!!!!!!!!!!!!!!
LaVonneK Champion Author Iowa Posts:2,955 Points:628,700 Joined:Jul 2011	Message Posted: Apr 19, 2012 10:33:55 PM Ignore LaVonneK Report Abuse I'm ready for pump relief.