Gas could sky-rocket soon

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Gas price increases do suck, but we still get off easy compared to some other countries.

If gas prices had any real effect on me, I'd be driving something that it much more economical than a 4Runner.;):

I always find it amusing when someone compares the cost of a gallon of gas against a gallon of something else. For example:

A gallon of gas vs a gallon of bottled water.

A gallon of gas vs a gallon of milk.
 
well gas prices are around 2.20/gallon for 87 oct. over in my area- Its gonna get hella expensive by summer. Here's a news article from yahoo:

Gas prices might increase 24 cents

Fri Mar 4, 6:19 AM ET

By James R. Healey, USA TODAY

Gasoline prices could rocket 24 cents a gallon the next few days, as stations across the USA scramble to keep up with big jumps in the prices of oil and wholesale gas, a veteran energy-price analyst forecast Thursday.

"It's going to be brutal, horrendous," says Peter Beutel, president of energy-price tracker Cameron Hanover. He has followed energy markets for nearly three decades.

Thursday, light, sweet crude oil for April delivery traded as high as $55.20 a barrel in New York before closing at $53.57.

A 24-cent jump in the price of gas would bump unleaded regular to a nationwide average of about $2.16 a gallon, blowing through last May's record of about $2.06. It could go higher as increased warm-weather driving in another two months pushes up demand, and therefore prices, forecasters say.

Adjusted for inflation, gas would have to hit about $2.95 for a record.

The price increase translates to "$90 million a day, every day that it remains in effect," which could be several months, Beutel says.

"Petronoia is in full flower. Retail gasoline has some 25 to 28 cents a gallon in increases ahead just to catch up to what has happened with wholesale (gas prices) since Christmas week," says Tom Kloza, senior analyst at the Oil Price Information Service. He foresees a record-breaking peak but not until the last half of this month. "What I can't determine is whether that level will last, like it did last year" or drop back as refineries ramp up gasoline production.

Petronoia is Kloza's description of when petroleum traders become irrationally afraid there won't be enough oil and gasoline later, so they buy now, bidding up prices.

The government's short-term-energy-price expert thinks the analysts are overreacting. Oil and wholesale gas prices have increased a lot, agrees Michael Burdette, senior analyst at the U.S. Energy Information Administration, but it takes about eight weeks for those changes to be completely reflected in pump prices. "In the next eight weeks, (wholesale gas) prices will change, so it's a moving target." At worst, he sees a dime jump in the near future.

Seasonal maintenance and other disruptions had U.S. refineries operating at just 89.3% capacity last week, lowest in four months, making traders jumpy about supplies.

The U.S. dollar has fallen in value recently, also, and foreign oil sellers, who control most supplies, want more dollars per barrel to compensate.

Those factors outweigh the U.S. government's midweek report showing ample supplies. U.S. inventories of crude oil, from which gasoline is made, were up a hefty 8.6% from a year ago and up 0.8% from the previous week. Supplies of gasoline were up 10.1% from a year ago, and even with a week ago.
 
That just means that a lot of Americans will have less money to spend on other things to support the U.S. economy which means it will only get worse, awesome! Not really, we can thank our polititions and our greedy corporate overlords!


Fark the oil companies and OPEC too!

:bash:
 
noodlesfusion said:
well gas prices are around 2.20/gallon for 87 oct. over in my area- Its gonna get hella expensive by summer. Here's a news article from yahoo:

Gas prices might increase 24 cents

I guess where I live here in Eastern PA. the station owners got an early edition of this article. Gas prices here increased 19 cents a gallon this week (as of 03/04/05).

At least my 4Runner gets 15-16 mpg around town which is better than a lot of other V8s. Should be interesting to see how my mileage decreases once I start towing my enclosed car trailer.
 
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Good Times said:
you know just be happy we're not in europe or something as they're payin a heck of alot more!

That's a ridiculous comparison to make wihtout comparing the mass transit and the cost of other things as well. The fact that gas prices are going up is nothing but bad news no matter what other countries are paying.

Besides, the price of oil has little to do with their gas prices or ours. Its all the damn tax our governent tacks on to each gallon.
 
The average price for regular gas in Hawaii right now is $2.58. If you shop at Costco, gas is $2.16 per gallon. I have to pump premium into my X. In some areas that
 
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I guess i will have to trade in my G-wagen for a Hybrid!:( Damn, my box is giving me 13 mpg on PREMIUM!:( :( :( :(
 
Hitman said:
Gas price increases do suck, but we still get off easy compared to some other countries.

If gas prices had any real effect on me, I'd be driving something that it much more economical than a 4Runner.;):

I always find it amusing when someone compares the cost of a gallon of gas against a gallon of something else. For example:

A gallon of gas vs a gallon of bottled water.

A gallon of gas vs a gallon of milk.

I agree!

It would be better to compare gas prices from 30 years ago to todays prices. When compared to other things, inflation has not affected gasoline prices as much as other things. Gasoline is a better value today than it was back in the 70's.
 
ever try the Citi bank credit card or Universal card, which give you 5% back for gas and grocery purchase.

Remember to pay off the bill every month to avoid financial charge.
 
Damn groundhog!!! if it were not for him I could be driving my Spyder sooner and getting better MPG.

For now I am stuck with 16MPG in the 4Runner.:(
 
If I were to pay $ 2/gal then it will cost me $ 5000 per year for fuel between my three vehicles. Now that's a lot milk one could buy.
 
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I guess that means I'll be taking my other wheels to work more often. It gets 40+ MPG yet it will out-accelerate any production car on the planet. :) Gotta love motorcycles...
 
kdx2000 said:
That just means that a lot of Americans will have less money to spend on other things to support the U.S. economy which means it will only get worse, awesome! Not really, we can thank our polititions and our greedy corporate overlords!

Fark the oil companies and OPEC too!

:bash:

Global demand for oil is up and supply is stagnant or decreasing. BOOM! Higher prices. China used to be a net exporter of oil. They are now a net importer of oil.

Want lower gas prices? Campaign for more exploration and hope for a BIG discovery!

For those who are wishing for alternative energy power cars, be happy. If gas prices get up to $5/gallon and stay there, the other energy sources become economically viable.
 
An 80 cent a gallon increase will cost me $100 more per month. I would like to buy a big Lexus LX470 or a LC and I figure if gas goes way up like 80 cents a gallon they will be giving them away in the May/June time frame :D
 
Good Times said:
you know just be happy we're not in europe or something as they're payin a heck of alot more!

They aren't paying more for the fuel it is the high taxes they put on the fuel. The cost of the oil/gas is the same world wide. It's all about the socialism that is in europe, tax it if you want to control the use and make more money for the government.
 

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