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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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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:2,950 Points:627,725 Joined:Jul 2011	Message Posted: Apr 19, 2012 10:33:55 PM Ignore LaVonneK Report Abuse I'm ready for pump relief.
skybiker Champion Author South Carolina Posts:7,297 Points:1,560,265 Joined:Jul 2008	Message Posted: Apr 19, 2012 10:32:27 PM Ignore skybiker Report Abuse wholesale dropped 20cents since two weeks ago....No drop at th pump.....
snakebitef22 Veteran Author Corpus Christi Posts:447 Points:31,520 Joined:Mar 2009	Message Posted: Apr 19, 2012 10:29:58 PM Ignore snakebitef22 Report Abuse Its not a $1.50 yet but it might get there...
CorvairHaven Champion Author Cleveland Posts:4,359 Points:1,454,915 Joined:Sep 2008	Message Posted: Apr 19, 2012 10:29:11 PM Ignore CorvairHaven Report Abuse Americans now will settle for a small drop in prices.... do you remember what the price was 4 years ago? Think about that!
Dodge_Me Champion Author Atlanta Posts:2,214 Points:556,980 Joined:Mar 2006	Message Posted: Apr 19, 2012 10:25:57 PM Ignore Dodge_Me Report Abuse Starting to see some relief, finally
gass12 Champion Author Omaha Posts:8,394 Points:2,305,440 Joined:Oct 2005	Message Posted: Apr 19, 2012 10:23:39 PM Ignore gass12 Report Abuse It droped here today for the 4th day in a row.
kusanagisama All-Star Author Texas Posts:708 Points:191,525 Joined:Feb 2011	Message Posted: Apr 19, 2012 10:21:38 PM Ignore kusanagisama Report Abuse Its been steady here for the last two weeks.
carman11 Champion Author North Carolina Posts:3,342 Points:692,700 Joined:Jun 2011	Message Posted: Apr 19, 2012 10:19:05 PM Ignore carman11 Report Abuse WOW. THERE IS AN ELECTION COMING IN NOVEMBER. THE ONLY THING THAT IS SUPRISING IS NO SURPRISE.
SparkieMi Champion Author Kalamazoo Posts:3,266 Points:589,360 Joined:Sep 2011	Message Posted: Apr 19, 2012 10:15:30 PM Ignore SparkieMi Report Abuse Where can you find that price at the pumps????? Wishful thinking!!!! LOL..
ratones1 Champion Author Los Angeles Posts:2,912 Points:732,730 Joined:Mar 2011	Message Posted: Apr 19, 2012 10:14:23 PM Ignore ratones1 Report Abuse hhhhhhhhhhhhhhhhhhhhhhum...
thunderstruck All-Star Author Chicago Posts:710 Points:735,305 Joined:Apr 2005	Message Posted: Apr 19, 2012 10:10:47 PM Ignore thunderstruck Report Abuse went down 2 cents today by my house, from 4.41 to 4.39. YAAAAAY!
kenji554 Champion Author Charlotte Posts:1,217 Points:513,645 Joined:Jun 2011	Message Posted: Apr 19, 2012 10:07:15 PM Ignore kenji554 Report Abuse Still watching
vroomputtputt Veteran Author Oregon Posts:275 Points:62,785 Joined:Mar 2012	Message Posted: Apr 19, 2012 10:06:14 PM Ignore vroomputtputt Report Abuse we will see
esquared Champion Author Oklahoma City Posts:8,072 Points:1,971,085 Joined:Jan 2006	Message Posted: Apr 19, 2012 10:01:32 PM Ignore esquared Report Abuse It may have taken "two straight weeks" for the price of gasoline to drop about 30¢ gallon here in Okieville, but it took (and will probably take again) less than two days to climb more than 20¢ gallon.
mrbee Champion Author Little Rock Posts:3,759 Points:2,466,805 Joined:Oct 2005	Message Posted: Apr 19, 2012 10:00:01 PM Ignore mrbee Report Abuse About time
CHEAPERBETTER Veteran Author Lansing Posts:418 Points:718,610 Joined:Nov 2010	Message Posted: Apr 19, 2012 9:58:57 PM Ignore CHEAPERBETTER Report Abuse Wow. Speculators are bringing the prices down. Well, once they buy, they eventually have to sell.
JDisNo1 Sophomore Author Twin Cities Posts:129 Points:89,120 Joined:Jan 2012	Message Posted: Apr 19, 2012 9:57:54 PM Ignore JDisNo1 Report Abuse sure.
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Apr 19, 2012 9:57:42 PM Ignore mitchell6597 Report Abuse Isn't this ummm, speculating?
Prodaddy Champion Author Houston Posts:8,380 Points:1,895,185 Joined:May 2007	Message Posted: Apr 19, 2012 9:51:12 PM Ignore Prodaddy Report Abuse I am ready to see some action
DTroytNC Veteran Author Charlotte Posts:366 Points:62,510 Joined:Jan 2012	Message Posted: Apr 19, 2012 9:50:16 PM Ignore DTroytNC Report Abuse Stop pointing and lower prices.
hcivic Champion Author Virginia Posts:3,859 Points:2,266,690 Joined:Aug 2005	Message Posted: Apr 19, 2012 9:49:21 PM Ignore hcivic Report Abuse whats going on hear???
Holly123 Champion Author Charlotte Posts:3,207 Points:791,185 Joined:Dec 2010	Message Posted: Apr 19, 2012 9:48:10 PM Ignore Holly123 Report Abuse The prices should start coming down for election time. Let's see who the biggest liar is.
RangerBob58 Champion Author Dayton Posts:3,122 Points:663,725 Joined:Apr 2011	Message Posted: Apr 19, 2012 9:47:00 PM Ignore RangerBob58 Report Abuse Political game?
RAE344 Champion Author Virginia Beach Posts:3,069 Points:662,495 Joined:Jun 2011	Message Posted: Apr 19, 2012 9:46:56 PM Ignore RAE344 Report Abuse Just maybe those people that predicted $5.00 a gallon were wrong.
sydb7 Champion Author Atlanta Posts:3,559 Points:1,919,895 Joined:Mar 2003	Message Posted: Apr 19, 2012 9:42:51 PM Ignore sydb7 Report Abuse The prices are coming down, but much too slowly for me!
WBBNC Veteran Author North Carolina Posts:499 Points:488,640 Joined:Jan 2011	Message Posted: Apr 19, 2012 9:40:35 PM Ignore WBBNC Report Abuse Let's hope!
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Apr 19, 2012 9:35:56 PM Ignore sammy518 Report Abuse ok
nwsynthetics Champion Author Oregon Posts:1,014 Points:346,425 Joined:Dec 2011	Message Posted: Apr 19, 2012 9:32:18 PM Ignore nwsynthetics Report Abuse Its lower here. But not by much. It will be awhile before we see cheap cheap gas. Maybe!
paulydel Champion Author Delaware Posts:8,789 Points:847,900 Joined:Jan 2008	Message Posted: Apr 19, 2012 9:31:32 PM Ignore paulydel Report Abuse Not seeing any drops here right now.
silverfoxv65 Champion Author Michigan Posts:4,485 Points:1,231,025 Joined:Sep 2009	Message Posted: Apr 19, 2012 9:31:00 PM Ignore silverfoxv65 Report Abuse Its still not enough, it has a long way to go!
bettersight Champion Author Oakland Posts:1,116 Points:255,885 Joined:May 2011	Message Posted: Apr 19, 2012 9:30:59 PM Ignore bettersight Report Abuse ok
USCCRN Sophomore Author Long Island Posts:145 Points:104,240 Joined:Mar 2012	Message Posted: Apr 19, 2012 9:29:53 PM Ignore USCCRN Report Abuse Gasoline on Long Island was $3.59/gal. for less than a day. Now it's back up .40 cents, to $3.99 and up. Gas will go up again with the summer blend formulation.
gmcgas Champion Author Atlanta Posts:5,958 Points:1,715,145 Joined:Mar 2004	Message Posted: Apr 19, 2012 9:29:50 PM Ignore gmcgas Report Abuse hummmmmmmmmm wonder why????
drz614 Champion Author Harrisburg Posts:2,305 Points:599,415 Joined:Aug 2011	Message Posted: Apr 19, 2012 9:25:36 PM Ignore drz614 Report Abuse Yeah, we should thank who again?
boborobot All-Star Author Michigan Posts:501 Points:418,425 Joined:Dec 2011	Message Posted: Apr 19, 2012 9:24:28 PM Ignore boborobot Report Abuse Not gonna hold my breath.
SpankyMI Champion Author Kalamazoo Posts:2,713 Points:760,255 Joined:Jan 2011	Message Posted: Apr 19, 2012 9:18:47 PM Ignore SpankyMI Report Abuse Are we sure its not the threat of new policemen Mr Obama was just talking about using on oil speculators?
wildddkattt80 Champion Author Phoenix Posts:2,143 Points:432,145 Joined:Jun 2011	Message Posted: Apr 19, 2012 9:18:17 PM Ignore wildddkattt80 Report Abuse Was done but went up again
jack_flash Veteran Author Idaho Posts:458 Points:892,725 Joined:Sep 2008	Message Posted: Apr 19, 2012 9:17:49 PM Ignore jack_flash Report Abuse Seems to me the less a barrel costs, the more profit companies make from charging us the same or more.
outlaw329 Champion Author Austin Posts:7,616 Points:1,375,280 Joined:Aug 2008	Message Posted: Apr 19, 2012 9:17:18 PM Ignore outlaw329 Report Abuse Well if we had a government for the people by the people that stood tall with a backbone we might get some help, but the spineless anti American government that we now have does nothing but for themselves.
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Apr 19, 2012 9:15:48 PM Ignore MadTraveler Report Abuse Up - down - up - down - up - down - up - down - up! Can't trust it.
azadus All-Star Author Houston Posts:554 Points:110,975 Joined:Mar 2012	Message Posted: Apr 19, 2012 9:15:29 PM Ignore azadus Report Abuse ok
mlambo Champion Author Indiana Posts:12,814 Points:2,690,140 Joined:Mar 2005	Message Posted: Apr 19, 2012 9:14:20 PM Ignore mlambo Report Abuse I have cut my driving down substantially and plan to drive as little as I have to regardless of the price of gas. Those wasteful habit are gone forever. Best is doing errands on the way home from work such a going to the grocery store, etc. after work instead of on the weekends
theressie Rookie Author Rochester Posts:1 Points:705 Joined:Apr 2012	Message Posted: Apr 19, 2012 9:14:12 PM Ignore theressie Report Abuse I hope the prices drop alot more due to the economy
duffee01 All-Star Author Mississippi Posts:781 Points:429,090 Joined:Sep 2011	Message Posted: Apr 19, 2012 9:13:21 PM Ignore duffee01 Report Abuse It's all a ploy by the obummer administration to hold prices down like he really gives a crap about people who actually need the prices to be down. I just hope that one day all you stupid people wake up!!!!!!!!!!!!!
Pete12 Champion Author Albany Posts:4,876 Points:1,645,065 Joined:Nov 2005	Message Posted: Apr 19, 2012 9:12:09 PM Ignore Pete12 Report Abuse As of tonight it's down another $.05 a gallon to $3.15.
DrLyon Champion Author Michigan Posts:6,650 Points:1,211,830 Joined:May 2006	Message Posted: Apr 19, 2012 9:10:29 PM Ignore DrLyon Report Abuse More relief please...
w9med Champion Author Gary Posts:1,128 Points:328,445 Joined:Aug 2011	Message Posted: Apr 19, 2012 9:09:09 PM Ignore w9med Report Abuse They are just getting you used to high prices so you think $4 is cheap
skyking19 Champion Author Little Rock Posts:2,001 Points:1,699,815 Joined:Jan 2007	Message Posted: Apr 19, 2012 9:09:09 PM Ignore skyking19 Report Abuse Good deal!
mikaye Champion Author Cleveland Posts:3,839 Points:866,385 Joined:Jun 2010	Message Posted: Apr 19, 2012 9:08:27 PM Ignore mikaye Report Abuse prices will go down a few cents then rise 10to 20 cents
hibsaw Champion Author Mississippi Posts:8,047 Points:1,682,940 Joined:Feb 2008	Message Posted: Apr 19, 2012 9:04:56 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 9:04:39 PM Ignore CritterNanny Report Abuse Not seeing much relief here 50 miles North of Seattle, WA.