DynamicTrends Predicts $4.70 Gasoline by Christmas!

PRLog (Press Release) – Nov 05, 2007 – Michael Scoglietti, of DynamicTrends, a Cleveland based web publisher who keeps readers abreast of the economy with Financial Forecasting for the Future, predicted yesterday among other things, that gasoline prices will reach $4.70 per gallon by Christmas.

His estimate is based primarily on the price of Light Sweet Crude which is nearing $100.00 barrel and the futures price of Gasoline for December delivery. “the trend has generally been that prices at the pump have gone up anywhere from 4 to 6 cents per gallon for every cent rise in futures price, and that was when Crude Oil was in the $35.00-$40.00 range. I expect Crude to reach at least $120.00 per barrel by then, unless the economy tanks completely.”