Where is the price of crude oil going in 2006 and beyond?

Nobody knows. Nobody. Anybody who says they do is full of crap. But here's a handy formulat to figure out how much gas should be based on oil prices. If it's more by you, your gas station is likely price gouging.





A barrel of oil hold 42 gallons. So Divide the prive of a barrel by 41, then add in $1.00 in refining costs to get your approximate price. This number only works in the U.S., sorry, I don't know the processing costs for other countries. And this is for regular unleaded, the premium octanes cost more of course.





So at $63/bartrel, gas should be $2.50 a gallon.





At $70, it should be about $2.67 a gallon.





And at $50 a gallon, tit should be about $2.19 a gallon.





So if it ever goes up to $100/barrel like those morons at Goldman Sachs said last year, then you can expect to pay at least $3.38 a gallon!Where is the price of crude oil going in 2006 and beyond?
1) Higher (2006)


2) Lower (Beyond)Where is the price of crude oil going in 2006 and beyond?
Due to worldwide demand, the prices will most likely go higher until such time as we can meaningfully decrease our reliance on foreign oil.
It will crash. Oil futures are artificially inflated by all the BS coming out of the middle east and latin america.





The truth is that if they push us too far, the US will convert over to near 100% domestic production (something we could easily do in less than 6 months). We have at least 100 years and more like 500 years worth of oil just as shale oil. If that happened, oil would become worthless by today's standards.