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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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hibsaw Champion Author Mississippi Posts:8,047 Points:1,682,940 Joined:Feb 2008	Message Posted: Apr 19, 2012 10:04:56 PM Ignore hibsaw Report Abuse We need some relief, for sure.
CritterNanny Veteran Author Washington Posts:298 Points:1,344,970 Joined:Jun 2008	Message Posted: Apr 19, 2012 10:04:39 PM Ignore CritterNanny Report Abuse Not seeing much relief here 50 miles North of Seattle, WA.
IUVidiot Champion Author Indiana Posts:3,595 Points:710,410 Joined:Jun 2011	Message Posted: Apr 19, 2012 10:01:03 PM Ignore IUVidiot Report Abuse ok
amteb All-Star Author Toledo Posts:513 Points:102,865 Joined:Apr 2012	Message Posted: Apr 19, 2012 10:01:01 PM Ignore amteb Report Abuse hoprfully
boborobot All-Star Author Michigan Posts:501 Points:418,425 Joined:Dec 2011	Message Posted: Apr 19, 2012 9:59:58 PM Ignore boborobot Report Abuse See it to believe it!
ssect8 Champion Author Hartford Posts:7,999 Points:2,094,495 Joined:Jun 2006	Message Posted: Apr 19, 2012 9:59:17 PM Ignore ssect8 Report Abuse I'm not going to hold my breath waiting for this to happen soon.
iamforiu Champion Author Indiana Posts:3,580 Points:712,715 Joined:May 2011	Message Posted: Apr 19, 2012 9:58:01 PM Ignore iamforiu Report Abuse ok
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Apr 19, 2012 9:57:42 PM Ignore Blue48 Report Abuse WE ALL HOPE SO!
clermont40miles Champion Author Cincinnati Posts:10,583 Points:1,773,845 Joined:Apr 2008	Message Posted: Apr 19, 2012 9:57:37 PM Ignore clermont40miles Report Abuse Prices need to be at least $1.00 less per gallon. We think these prices are normal now but they are FAR from it. Thanks, BHO & Co. Green is red. BHO is green. Hence... right! If A=B and C=A, then C=B=A. [Edited by: clermont40miles at 4/19/2012 10:03:44 PM EST]
unclenorman Champion Author Tampa Posts:1,348 Points:140,250 Joined:Jan 2012	Message Posted: Apr 19, 2012 9:57:33 PM Ignore unclenorman Report Abuse I'll believe it when I see it.
bvrbill Champion Author Eugene Posts:3,229 Points:519,825 Joined:Jul 2011	Message Posted: Apr 19, 2012 9:56:26 PM Ignore bvrbill Report Abuse This may be good news. Somehow they seem to find ways to keep the fuel prices high. I'll be cautiously optimistic.
PontiacFan All-Star Author Gary Posts:776 Points:434,775 Joined:Mar 2011	Message Posted: Apr 19, 2012 9:49:04 PM Ignore PontiacFan Report Abuse Could still drop over a $1.
gasaholicMO Champion Author Missouri Posts:2,621 Points:510,940 Joined:Apr 2010	Message Posted: Apr 19, 2012 9:47:35 PM Ignore gasaholicMO Report Abuse Good, good, good. Hope all those investors lost their shirts.
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Apr 19, 2012 9:45:21 PM Ignore Agarre Report Abuse Ok
tucker355 Champion Author Manitoba Posts:1,712 Points:440,690 Joined:Feb 2009	Message Posted: Apr 19, 2012 9:45:19 PM Ignore tucker355 Report Abuse what...ever!!!!
shea33 Champion Author Pensacola Posts:2,373 Points:543,915 Joined:Oct 2011	Message Posted: Apr 19, 2012 9:43:01 PM Ignore shea33 Report Abuse some good news
FrankTA2 Champion Author New York Posts:4,298 Points:1,096,285 Joined:Jun 2007	Message Posted: Apr 19, 2012 9:40:57 PM Ignore FrankTA2 Report Abuse Now let the prices at the pumps slid as much.
stephen2155 Champion Author North Carolina Posts:3,029 Points:659,005 Joined:Jun 2011	Message Posted: Apr 19, 2012 9:37:56 PM Ignore stephen2155 Report Abuse Good
cutter1330 Champion Author Oklahoma Posts:8,040 Points:1,695,090 Joined:Jul 2005	Message Posted: Apr 19, 2012 9:33:42 PM Ignore cutter1330 Report Abuse We need speculator relief.
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Apr 19, 2012 9:32:40 PM Ignore BWJM Report Abuse ok
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 19, 2012 9:30:17 PM Ignore babugp Report Abuse sims like now it will set at $3.70 per gal. ave. thats how they play $.50 up $.25 down with gas price
aalix Champion Author Orange County Posts:23,188 Points:4,123,345 Joined:Aug 2001	Message Posted: Apr 19, 2012 9:29:53 PM Ignore aalix Report Abuse Projected falling gas price? Wow.
eomc17 Champion Author Tucson Posts:1,822 Points:134,145 Joined:Mar 2007	Message Posted: Apr 19, 2012 9:26:43 PM Ignore eomc17 Report Abuse It took a 21 cent plunge in gasoline futures at Wall Street for gas to drop a penny in Tucson. This is garbage, same billshut as last year. And Obama doesn'r really give a rat's *ss how much we pay for gas. He is the Lying King of America. Vote him and his spoiled, pampered family OUT of the White House this year. I will vote GOP for the first time so I am not your stereotypical republican, but rather a democrat who used to vote for the democrat, but not this time. Obama is a power hungry socialist who makes a mockery of our constitution and judicial system. He bailed out big banks instead of the millions these same banks kicked out of their homes. How many of the dumbocrats have forgotten this???
agr964 All-Star Author Fresno Posts:623 Points:71,345 Joined:Aug 2008	Message Posted: Apr 19, 2012 9:26:21 PM Ignore agr964 Report Abuse I'll believe this when I see it. Been over $4/gal here even at the cheapest stations for well over 2 months now. [Edited by: agr964 at 4/19/2012 9:27:32 PM EST]
BM4225 Champion Author Atlanta Posts:10,124 Points:2,096,020 Joined:Aug 2006	Message Posted: Apr 19, 2012 9:22:26 PM Ignore BM4225 Report Abuse Well it looks like 4 more of Obama, he will not get the credit for the lower prices. After the election expect $5 a gallon, and with in yearf it will be where Mr. Chu wants it, at 8-$10 per gallon.
gknee09 All-Star Author Philadelphia Posts:985 Points:823,765 Joined:Jul 2009	Message Posted: Apr 19, 2012 9:19:42 PM Ignore gknee09 Report Abuse it's sad that we are excited to see it at $3.88!
HawaiianGuy Champion Author Idaho Posts:9,533 Points:3,080,675 Joined:May 2003	Message Posted: Apr 19, 2012 9:18:34 PM Ignore HawaiianGuy Report Abuse Yeah? Well tell that to the retailers! We ain't seeing it out here at the pumps.
sramroop Champion Author Birmingham Posts:3,322 Points:740,830 Joined:Jul 2010	Message Posted: Apr 19, 2012 9:17:45 PM Ignore sramroop Report Abuse Dream, dream....still too high
letmathe Champion Author Chicago Posts:14,321 Points:3,134,370 Joined:May 2001	Message Posted: Apr 19, 2012 9:16:43 PM Ignore letmathe Report Abuse Let's hope!
mel48 Champion Author Michigan Posts:16,283 Points:2,528,875 Joined:Mar 2004	Message Posted: Apr 19, 2012 9:16:27 PM Ignore mel48 Report Abuse Prices have NOT fallen in MI. Still upward of close to $4 a gal.
MG_Sputnik Champion Author Philadelphia Posts:7,315 Points:1,961,605 Joined:Apr 2006	Message Posted: Apr 19, 2012 9:14:28 PM Ignore MG_Sputnik Report Abuse ReadyWriter hit the nail on the head. We'll be seeing more and more of this type of "reporting".
raj_fl Champion Author Trenton Posts:3,214 Points:728,980 Joined:Oct 2010	Message Posted: Apr 19, 2012 9:14:09 PM Ignore raj_fl Report Abuse mmmm
TekWare Champion Author Toronto Posts:3,171 Points:674,250 Joined:May 2011	Message Posted: Apr 19, 2012 9:14:06 PM Ignore TekWare Report Abuse And the reasons for this are what? They were acting like there was a shortage when in fact there was none? They were acting like there was a war with Iran when in fact there wasn't? They were acting on pure greed when in fact they were?
warlord1 Champion Author Georgia Posts:5,255 Points:1,035,950 Joined:May 2010	Message Posted: Apr 19, 2012 9:12:27 PM Ignore warlord1 Report Abuse ok
ReadyWriter All-Star Author Columbus Posts:762 Points:40,855 Joined:May 2008	Message Posted: Apr 19, 2012 9:08:48 PM Ignore ReadyWriter Report Abuse Interesting--right about the same time that Obama made statements that are long, long overdue about changing the way the speculators and investors are regulated. I'm sure there is a connection. I'm also sure he made that statement solely as a political ploy to boost his ratings and possibility of reelection. [Edited by: ReadyWriter at 4/19/2012 9:09:32 PM EST]
camaro_man Champion Author Kitchener-Waterloo Posts:2,237 Points:612,020 Joined:Jun 2010	Message Posted: Apr 19, 2012 9:08:16 PM Ignore camaro_man Report Abuse wow
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Apr 19, 2012 9:04:25 PM Ignore TDIdave Report Abuse Cool.
theschmuck Champion Author Michigan Posts:2,927 Points:1,513,575 Joined:Mar 2007	Message Posted: Apr 19, 2012 8:57:52 PM Ignore theschmuck Report Abuse Don't know where this writer lives but our prices stay the same and aren't getting any better.
swrestler Champion Author Grand Rapids Posts:6,145 Points:1,573,025 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:56:55 PM Ignore swrestler Report Abuse I'll Wait And See...
FuelOilOH Champion Author Cleveland Posts:2,837 Points:1,180,220 Joined:Oct 2007	Message Posted: Apr 19, 2012 8:56:21 PM Ignore FuelOilOH Report Abuse I'll tell you what would be a relief, to have gasoline and crude oil taken off the commodity board and given back to the industry. Let supply and demand set the price of oil and gas.
hoosierdaddyno1 Champion Author Indiana Posts:1,539 Points:1,257,180 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:56:20 PM Ignore hoosierdaddyno1 Report Abuse Nah we are not going to hurry up like the .30 cent and then .20 cent gains in 3 weeks naw we will just slowley drag waiting on each little reason to just jump it again !!! Bs they will get "ANY REASON" AND JUST OOPS ALL OVER US LIKE A GOOSE!!! [Edited by: hoosierdaddyno1 at 4/19/2012 8:57:03 PM EST]
heysailor Champion Author Pittsburgh Posts:9,592 Points:2,334,620 Joined:Mar 2006	Message Posted: Apr 19, 2012 8:55:20 PM Ignore heysailor Report Abuse Finally
dookitout Veteran Author Michigan Posts:276 Points:90,440 Joined:Oct 2008	Message Posted: Apr 19, 2012 8:54:52 PM Ignore dookitout Report Abuse Still $3.94 here.
ljmh Champion Author Akron Posts:3,047 Points:551,060 Joined:Feb 2011	Message Posted: Apr 19, 2012 8:54:34 PM Ignore ljmh Report Abuse About time
g747 Champion Author Mobile Posts:4,546 Points:934,645 Joined:Jul 2009	Message Posted: Apr 19, 2012 8:53:41 PM Ignore g747 Report Abuse About time we get relief @ the pump.
crashintuc34 Champion Author Tucson Posts:4,057 Points:812,865 Joined:May 2010	Message Posted: Apr 19, 2012 8:53:07 PM Ignore crashintuc34 Report Abuse Not gonna hold my breath.
ShabbyPA Champion Author Pennsylvania Posts:2,815 Points:680,490 Joined:Nov 2007	Message Posted: Apr 19, 2012 8:52:29 PM Ignore ShabbyPA Report Abuse didnt go down here
fcdriver Champion Author Tennessee Posts:7,258 Points:1,475,780 Joined:Sep 2008	Message Posted: Apr 19, 2012 8:51:55 PM Ignore fcdriver Report Abuse well hurry it up already
OKRifle Champion Author Oklahoma City Posts:10,411 Points:1,811,260 Joined:Oct 2007	Message Posted: Apr 19, 2012 8:50:38 PM Ignore OKRifle Report Abuse All lies!
200porter Champion Author Toronto Posts:2,070 Points:543,110 Joined:Sep 2011	Message Posted: Apr 19, 2012 8:50:25 PM Ignore 200porter Report Abuse Optimistic but we'll see
darkknight1 Champion Author Winston-Salem Posts:4,345 Points:897,035 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:2,264 Points:501,020 Joined:Nov 2011	Message Posted: Apr 19, 2012 8:38:47 PM Ignore adgam Report Abuse ok