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Commodities Briefing - Categorized | Oil, Price Watch more

Oil exec predicts gas price will stabilize at $3

Posted on 30 October 2008

From Chicagotribune.com: Gas prices are likely to stabilize around $3 per gallon, the head of the nation’s third largest oil company predicted Wednesday. Jim Mulva, the chairman and chief executive of ConocoPhillips, said gas prices rose too much too fast over the summer and are now dropping too much.

He said a $3 price would balance supply and demand, allow oil companies to fund further research and satisfy drivers weary of high prices….. Full Article: Source


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