Retail gas prices pulled back slightly from its record shattering high just earlier and some car owners saved a few pennies, but a new government forecast said gas could reach as high as $4 a gallon during the summer driving season.
Oil futures prices, meanwhile, fell as the dollar stabilized, giving investors an opportunity to lock in profits from crude's recent rally. Limiting the declines were developments in Iran, which announced plans to expand its uranium enrichment program and said it has tested key equipment, a move that raised the market's concerns about political conflict that could affect the country's oil exports.
The monthly report, just issued by the Energy Department’s Information Administration, forecast the average price at the pump will peak at $3.60 in June but could rise above $4 in the Summer months. It is actually higher than previous projections by a dime and more in line with other forecasts from other sources.
The government also predicted high prices will cut demand for gasoline at the height of the summer. gas consumption will fall by about 0.4 percent during the peak summer months, and overall consumption of petroleum products will drop by 90,000 barrels a day this year, the EIA said. The agency previously said petroleum consumption would rise by 40,000 barrels a day.
Consumption has already gone down for the first time in decades with the decrease increasing since the start of the year.
The chilling effect certainly has something to do with the fact that gas prices are 55 cents higher than this time last year
Crude oil's rise above $100 earlier this year is the main reason gas prices have been rising. Crude futures rose to a trading record of $111.80 last month, and have since traded in a range between about $100 and $110.
A majority of people don’t and won’t do anything about any of this because they feel powerless . There are people, though, who are more courageous and independent in though and action and many of these people are turning to Water4Gas as a solution to fight back on an individual level against the rising cost of oil and gasoline.
WATER4GAS is sharing information at a low price which individuals can use at home to build a small device which infuses hydrogen into the fuel/air mixture that their vehicle runs on.
The process makes bite sized particles out of the ones that the engine burns as fuel. Because of the smaller size the engine gets to use considerably more of it.
By doing this you can minimumly expect to reduce your gasoline usage by 30-50% or even more. Those goblets "musta" been pretty "blankin'" huge in some engines before. But with W4G they are made consumable so you can reduce your gasoline usage.
It also helps make emissions significantly cleaner.
This package of info has been purchased by over NINE THOUSAND people already and the percentage of happy customers is about 99%! So how about you?