Good News For Gas: Price Should Stay Stable

Gas prices are still causing concern, especially with the summer months upon us and vacation plans taking shape. Don Good from the Good Oil Company says after the Memorial Day weekend, prices should be level and not as high.

“Overall the trend is going to be down,” said Good. “There’s a lot of volatility where it bounces up and down so I think you’re going to see it moving at about a ten or fifteen cent range up and down, but the general trend will be down.”

He says that the industry seems to believe that, barring unexpected activity overseas, gas prices should remain below $4 per gallon.

“I just got back from a meeting in Chicago with BP and a bunch of people from the industry and what they’re saying is that it’s possible that we could see some quirky stuff that may happen with Iran and some of those things that are less predictable that could make it bounce above $4.00 again. Barring some sort of incident, it will probably going to start trending down here and we’ll go back above $4.00 and if it does it should be just for a short period,” said Good.

There were speculations at the beginning of the year that gas prices could reach $5.00 a gallon, but Good dissuaded these ideas.

“It would take something pretty drastic for that to happen now at this point from what they’re saying. Hopefully, I think we’ve seen the worst of it for this summer,” Good said.

He does see some encouragement about the future of fuel prices.

“They’re talking about getting the pipeline open and they’re talking about putting in legislation that would curb a lot of the speculation which is a lot of the problem so I think there’s some good news on the horizon for energy prices,” Good said.