It's not going to go below $2 in CA, fo shizzle.
And oil is over $48 today.
The one plausible scenario that would get us to $2 is a global recession-depression which craters demand.
WTI retreated to $47.52 (-3.39%) today. The spike from the lowest since Jan '15 was due to thew market following the surge in the stock futures which recovered by nearly 800 pts( DJIA). Market analysts have oil falling to and staying in the $30's and may even test $30....
BTW RBOB gasoline fell today to $1.47 gal.....
One thing I have noticed is that the retail prices have been very slow to follow the wholesale fuel prices. Diesel fell much more rapidly that gasoline. Last week I paid $1,93 for Diesel .
That same station has it now for $2.29.
Gasoline however is still in a slow decline. Actually factoring in the standard benchmark of wholesale plus 60 to 90 cents for taxes, delivery charges and retailer profit, gasoline in this area is about 20 to 30 cents above where is should be. Most retailers are around $2.30 per gallon.
Now, as far as the Chosen One is concerned. JHe must be seething that his "I would be comfortable with four dollar gasoline" wish has not come to fruition..
Obama only cares about his legacy and his ego. He views himself as an elected king. And if he had his way, gas would be twice or even three times the price. That is because he believes his own bullshit. he believes only HE knows what's best and wiht that, HE is going to save the planet. And how did he want to accomplish this? By enacting policy that would make fuel so expensive we'd have to stop buying it.
This is typical progressivism. Where the the idea is more important than the negative effects it may have.
See, Obumbler would scuttle the US economy to get his way. He thinks high fuel prices will "force" conservation. Meanwhile the high price for fuel makes everything else more expensive. People see their buying power shrivel and they slam shut their wallets.
Would Obama care? No. A down economy is GOOD for his kind. Progressives cannot stand a financially independent populace. They want dependency on government. So the more people out of work, the more people living off the taxpayer tit. And those people will vote for whomever gives them the goodies. The free shit.