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Will the price of gasoline fall below $4.00 before Labor Day?

Settled as Yes, price drops below $4.000 before Labor Day

News released by 5:40 Central that the price for Gasoline-all grades was $3.935 . . . question settled as yes, price drops below $4 before Labor Day

Background:

Take a look to our future...we usually don't expect any drops in price until after Labor Day, but with the volatility of the oil market this summer, there could be some drops along the way. We're just over $4.15 a gallon now, and there have been some drops...but will there be enough of one to get back below $4?

A third option is given just for the heck of it.
Haven't seen it below $4 since 5/26 when it was $3.986 . . .

We're using the gasoline-all grades for settlement from the Energy Information Administration . . .
http://tonto.eia.doe.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm


Settlement details: As reported by a major mainstream news source.

 
Forecast history, %
   Zoom in

Settled

Yes, price drops below $4.000 before Labor Day
90%
No, doesn't drop below $4.000 before Labor Day
9%
Some other outcome
0%
Activity: H$46,728
Settled as Yes, price drops below $4.000 before Labor Day on Tue 5th Aug 4:08am PDT

Suspend date: Mon 1st Sep 6:15am PDT Settlement date: Tue 5th Aug 4:08am PDTPrediction cut-off: Predictions on this question after Mon 4th Aug 3:40pm PDT have been voided because they were made after the question could be settled

Initial likelihoods: Yes, price drops below $4.000 before Labor Day: 34%, No, doesn't drop below $4.000 before Labor Day: 64%, Some other outcome: 2%

Action history:

Created Sun 20th Jul 6:45am PDT by bayoubear[Admin]
Settlement requested Mon 4th Aug 9:20pm PDT by dieseldog: 393.5 settle as yes please.

http://tonto.eia.doe.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm
Settled as 'Yes, price drops below $4.000 before Labor Day' Tue 5th Aug 4:08am PDT by bayoubear[Admin]: News released by 5:40 Central that the price for Gasoline-all grades was $3.935 . . . question settled as yes, price drops below $4 before Labor Day

Suspend date: Mon 1st Sep 6:15am PDT Settlement date: Tue 5th Aug 4:08am PDTPrediction cut-off: Predictions on this question after Mon 4th Aug 3:40pm PDT have been voided because they were made after the question could be settled
more info...

 

Predictions (45)

45 predictions

15 weeks ago
intlibber predicted Yes, price drops below $4.000 before Labor Day (H$100 at 90%)
16 weeks ago
coolkraft predicted Yes, price drops below $4.000 before Labor Day (H$100 at 79%)
16 weeks ago
destry[Admin] predicted Yes, price drops below $4.000 before Labor Day (H$1,006 at 76%)
16 weeks ago
gypsy predicted Yes, price drops below $4.000 before Labor Day (H$1,000 at 70%)
16 weeks ago
boogieandjive predicted No, doesn't drop below $4.000 before Labor Day (H$50 at 9%)
more

Comments (12)

@bayoubear - clarification please: the question refers to "regular gasoline" and the background reads "We're using the gasoline-all grades for settlement"

Which is your intent for settlement? (regular or all grades)

Thank you!
posted 17 weeks ago
  2 bayoubear[Admin]
Good Catch Fingers, F O F!

Yep, the question itself should probably just say 'gasoline' rather than regular, since all the background refers to 'all grades' and every question I've ever done related to this uses the "all grades' data as settlement grounds...I'll flag and ask for a change in the wording of the question.
posted 17 weeks ago
  3 epr118
You mean it isn't below $4 already? I just filled up with plus for 3.99!
posted 17 weeks ago
@epr118 - Where do you live?? My last fill up was 4.25 (NY). Guess its all: location, location, location!
posted 17 weeks ago
  5 bayoubear[Admin]
That's why I use the EIA info, and also the data on all grades, not just regular...yesterday's price was at $4.118, nearly a 5¢ drop from the previous week.

I'm getting my regular here on the Mississippi Gulf Coast for anywhere between $3.84-$3.99.
posted 17 weeks ago
  6 ryanb37
yeah i am getting gas for 3.80 in Indiana
posted 17 weeks ago
  7 epr118
jenni, I live in PA but I work in NJ. It is great, I pay less for plus in NJ then I would for regular in PA. Plus, to the best of my knowledge, there is none of that ethanol crap in my Jersey gas (at least there is no mention of it at the pump).
posted 17 weeks ago
  8 hubdubbob
I filled up today here in Arkansas for $3.85. Had been up to about $3.99.
posted 17 weeks ago
  9 rassi
Filled up last night in Cleveland, OH for $3.65...
posted 17 weeks ago
$3.85 to $3.94 (Regular) in Champaign, Illinois today...even with our state's progressive gasoline tax (% of selling price instead of flat rate per gallon).
posted 17 weeks ago

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