That would be a great relief for summer vacationers, but the question is, will it?
After coming out of a semi-balloon type of busting of oil prices in the past few weeks, it would be more likely that markets would take that break and continue to trade sideways, if not move lower, for the next several weeks and even months. Still, both Goldman Sachs (GS - Get Report) and Morgan Stanley (MS - Get Report), the two strongest and most influential oil traders in the world, have put positive, bullish research notes out on crude oil in the past two weeks.
They both call for higher prices in the next 12 months, with the proviso that, near term, there could still be more moderating that could take place. Their "doomsday" scenarios of $120, $130 and even $150 crude prices won't happen for sure until the last quarter of this year and going into 2012 and even 2013, they say.
So if they're right, this really is a summer to savor -- even with pump prices that will likely hover more than 70 cents higher than last year. Compared to what's to come in the summers ahead, according to the trading "experts," this summer's gas prices are going to look relatively cheap.