Gas price predictions perilous
Gas prices are making the news again today because of volatility.
So anyone wanting to bet on what gas prices will do this summer shouldn'tr bvet too much.
Gas price expert Dan McTeague is categorical: don't believe those who say they can predict what gas prices will do in the coming weeks or months, or even next week.
McTeague says there are simply too many variables: what will happen in the Greek elections and how would world markets react if Greece pulled out of the European Union? What will happen when sanctions kick in against oil-rich Iran? What will OPEC do with its production quotas? Will the U.S. and Europe pump their markets full of cash to counter a global economic downturn? All factors that could pull gas prices either way.
This much McTeague says he does know: anything could happen.