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just my 2 cents
They will never go back down to $2.25, that's for sure. My prediction is $2.45 would be the best we could hope for. But if Rita hurts the drilling rigs or the processing plants, it could be worse in the short term.
However, a far more important factor is the value (or lack thereof) of the us dollar. The reason gas when from $1.15 to $2+ in 2 years is that the US dollar was (and still is) dying. If you look at the price of gas in euros, you find it was pretty stable for that first year, and only in the past year has it gone off that standard. I think they are pricing it in Gold or swiss francs now. But the main reasons gas is so expensive is not the hurricanes:
It's the demand by china.
It's the devaluation of the US dollar.
The US needs to get out of the war or start profitting from it. That's why the US dollar has fallen. Bombs don't generate money, they cost money. If Iraq can get it's act together and IF the US can gain business from it (which is why were were there in the first place) and if Iraq oil can be sold to the US at a discount, then yes, the price can come back down. But that's a lot of "ifs."
The hurricanes are fairly minor factors, but will effect the price of gasoline. But the war, china and the US dollar are major factors and effect the price of crude oil.
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