Gas prices reach record high average of $1.77 gallon

Cincinnati Enquirer ^ | March 15, 2004 | AP

[MikeJ75]

CAMARILLO, Calif. - Prices for all grades of gasoline rose 1.34 cents in the last two weeks to a record high nationwide average of $1.77 a gallon, according to a study released Sunday.

Gas prices have jumped by nearly 26 cents so far this year, and while they won't be falling by that amount any time soon, they aren't expected to rise much higher, according to the Lundberg survey of 8,000 stations nationwide. The survey was conducted Friday.

The previous combined average record high was $1.76 in May 2001.

Analyst Trilby Lundberg said the latest spike reflects the rise in crude oil prices and an increase in refinery work to prepare for greater spring and summer gasoline demand.

OPEC declared earlier this year that it would reduce official oil production by April 1 and crack down on those countries exceeding the level.

"Where crude oil prices go next - whether they push or pull on gas prices - is OPEC's guess," she said.

Lundberg said work at the refineries is nearly complete.

"The pace of the pump price hike has slowed and prices are dropping on a spotty basis around the country," she said.

In California, prices remain higher than the rest of the country due to the state's strict environmental regulations and sales tax on gas pumps. Still, pump prices dropped nearly a penny in the last two weeks to $2.10 per gallon.

The national weighted average price of gasoline, including taxes, at self-serve pumps Friday was about $1.74 for regular, $1.84 for midgrade and $1.92 for premium.

[Incorrigible]

Adjusted for inflation, gas is still cheaper than BEFORE the oil embargos of the 70's.

[T'wit]

It would be more accurate to say that the dollar is falling due to wildly excessive money creation.

[CasearianDaoist]

New Yorkers would consider this a bargin.

[Incorrigible]

It would be more accurate to say that the dollar is falling due to wildly excessive money creation.

BINGO!

[fly_so_free]

$1.77 a gallon for regular? Pffft that would be a welcome break here in LA county. I paid $2.34 per gallon just yesterday. What excuse are the oil compainies making this time? The wind is blowing the wrong way? The sun rises in the morning? The sky is the wrong shade of blue? Sheeeesh.

[Dane]

The Saudi war on George Bush

[Russ]

When I filled up on Saturday I noticed the price had fallen from $1.69 a week ago to $1.63 (for regular).

[fly_so_free]

That's good you got a little break on the price. You know this has to be BS. You live in So. Cal general area too right? So how come your paying so much less than I am? I haven't seen any gas in this area for under $2 per gal.

[Trust but Verify]

Prices here in Wisconsin have fallen from $1.79 to about $1.65 in the past 7-10 days.

[Trust but Verify]

I beleive it's all the regulation in the People's Republic of California, isn't it? I heard on the news you have to have an ethanol-based gas now and there is a supply problem. Feel free to correct me if I'm wrong. If I lived there, I'd get the heck out.

[fly_so_free]

Well we do have the screwy regulations (like MTBE- cleans the enviroment- but kills every living thing, and poisons the ground water-they finally got rid of it), but Russ lives in the general area I do, ( same state) and he's paying alot less. It doesn't make sense.

[TMSuchman]

Don't forget about the enviro-wacko's and their strangle hold on U.S. oil refinement.

[Russ]

No, I live in eastern Pennsylvania.

[newzjunkey]

That's one excuse they use. They claim it's greater demand, refineries down for maint. work, high per barrel cost, cost of switching to summer formulation and fewer and fewer in-state refineries. The CA summer formula is an ethanol mix.

Lowest grade can be had for only $2.17 in some parts of San Diego.

[newzjunkey]

You'd think with all this "blood for oil" the anti-wars claim Bush has been waging that gas prices would be at least stable. I think he needs to wage a little war on OPEC and demand Congress open the AK wildlife refuge he wanted to drill.

[Dane]

You'd think with all this "blood for oil" the anti-wars claim Bush has been waging that gas prices would be at least stable. I think he needs to wage a little war on OPEC and demand Congress open the AK wildlife refuge he wanted to drill

Well there are a lot of factors. The house of saud wanting Bush to fail in Iraq, the envirowhackos pushing through 60 different blends of gasoline, blocking new refinery construction, blocking the energy bill, etc.etc.

There is a war going on, but it is not being reported in the mainstream press though.

[fly_so_free]

"If I lived there, I'd get the heck out"

Have you ever been to California? Why should I leave paradise? We have the best climate in the world. Our beaches are 2nd only to Hawaii. It was 78 degrees and blue sky yesterday. Think Forida, but without the hummidity, bugs and alligators. We also have mountains and deserts, all in one place. It's expensive as heck to live here, but worth it. Well, the traffics a nightmare too, but there are ways to get around it. If enough conservatives would move here, we could throw the Socialists out of office.

[fly_so_free]

Oh, the article is from Camarillo, Ca though, and it still has the gas prices listed as less than what I'm paying in LA county.

[palmer]

Adjusted for inflation, gas is still cheaper than BEFORE the oil embargos of the 70's.

You must be assuming that the gas price increases had nothing to do with that inflation.