Will oil prices continue to drop? Oilintel says yes

A little bit more now on the possibility of cheap gas coming, excuse me, down the pipe.
Oilintel, a website that covers oil news, predicted in August that oil prices would soon drop to below $70 a barrel. Oilintel founder Tom Waterman got that number right, and now he's saying that the price could keep dropping in the fall months. Waterman wrote last week that a price of $55 per barrel is quite possible in October or November (in August, he was predicting $50 a barrel). As we all know, high gas prices drove up demand for smaller, more fuel-efficient cars this past year. Here's hoping shoppers don't have short memories.

[Source: Oilintel.com]

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