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By New_Deal_democrat July 23, 2015 8:42 am
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Gas prices have probably peaked; $1.xx gas this winter?
Late last year I wrote that gas prices would probably bottom at about $2/gallon in December or January.  Of course, it bottomed at $2.02.  When that happened, I wrote: 

"In short, the odds are quite good that we saw the bottom of the plunge in Oil in gas prices late last week, at $2.02/gallon and $44/barrel.  If gas prices increase seasonally as they have in 8 of the last 10 years, we should see a quick rebound in the next month to about $2.30, and a spring or summer high of about $3/gallon +$.20/-$.10."

 
We did see that quick rebound in the next month, and now it looks like we hit the high for the year in mid-June at $2.82/gallon, slightly below my target, as shown here on GasBuddy:
 
 
This tells us that the medium term trend in gas prices, taking out seasonality, is still down.  That suggests that gas prices are going to fall below $2/gallon this winter. Sweet. 
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