Saving money by paying less than $2.00 a gallon for gas has decreased the financial strain many Americans have been feeling, but will it last? ConocoPhillips’ (COP) chief executive Jim Mulva thinks an increase in the price per barrel of oil will increase, but not to the dramatic points we’ve seen in recent past.

"We don’t have expectations of oil prices of $80, $90, $100, but we do look at oil prices moving up from the low levels we’ve seen," Mulva said. "Maybe in neighborhood of $60 to $70 over time."

Conoco is worried that if oil prices don’t average $52 a barrel they won’t break even and be able to pay dividends in 2009.

What does this mean for you, the consumer?
Having a CEO of a major company predicting oil prices can at least prepare us for what may be in the future. As oil and gas prices have dropped, sales of trucks and SUVs have increased. However, the future is uncertain and keeping your small sedan or hybrid vehicle may make better dollar sense in the long run.

Read the entire article here:
money.cnn.com

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