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Gulf Oil CEO says gas could hit $1 next year
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| Contributor | kal |
| Last Edited | kal Dec 06, 2008 05:36am |
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| Category | General |
| News Date | Saturday, December 6, 2008 11:35:00 AM UTC0:0 |
| Description | Gulf Oil CEO Joe Petrowski said on Wednesday that the price of oil could sink to $20 per barrel, and there is a chance gasoline prices could drop as low as $1 per gallon by early next year.
Speaking at a South Shore Chamber of Commerce breakfast at Lombardo’s in Randolph, the Brockton native said that after speculators drove oil prices up, there is a chance that the market will overshoot on the way back down, resulting in much lower prices at the pump.
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