Gasoline tops $3 a gallon for first time at Christmas

dailyfinance.com ^ | 12/24/2010 | David Schepp

[massmike]

It may be the happiest season of the year,but higher oil prices that have translated into gas prices topping $3 a gallon have many motorists frowning.

[wendy1946]

Normally I’d figure something like 3.50/gallon was the point at which the economy grinds to a half on account of it. In this economy, it’s more likely right around 3.00. By grinding to a halt I mean people stop driving other than to work, the grocery store, or church.

[digger48]

was $3.09 here all week in central Hoosierville.

last night down to $2.98.

[WOBBLY BOB]

[QBFimi]

But, but what about the associated taxes? [MSM silence]

http://www.api.org/statistics/fueltaxes/upload/GASOLINE_TAX_MAP_OCTOBER2010.pdf

http://www.api.org/statistics/fueltaxes/upload/DIESEL_TAX_MAP_OCTOBER2010.pdf

[digger48]

Normally I’d figure something like 3.50/gallon was the point at which the economy grinds to a half on account of it. In this economy, it’s more likely right around 3.00.

[Flavius]

Really? That would be awesome omen was 3.25 /w taxious

[massmike]

The rise in gas prices also isn't expected to put a damper on economic growth in the new year. The recent rise is good because it's caused by a gradual increase in demand.

Funny! When Bush was president,high gas prices were "the end of the world!"

[EGPWS]

Normally I’d figure something like 3.50/gallon was the point at which the economy grinds to a half on account of it. In this economy, it’s more likely right around 3.00. By grinding to a halt I mean people stop driving other than to work, the grocery store, or church.

I, for the life of me, just don't understand it.

The White House, the Senate, and Congress combined have been desperately working around the clock to turn this economy around and make it fruitful again and it just seems to get worse with the more they do to fix it.

Plane ol' bad luck for them I guess.

[Dallas59]

Doesn’t mean I drive less...I just drive slower and spend less money elsewhere. Thanks Obammy!

[WOBBLY BOB]

Republicans only care about drilling poor little bears in ANWR

[Selmore]

3 dollars is the new 1 dollar

[Eric in the Ozarks]

Obama’s gift to America.

[SVTCobra03]

I would gladly pay $3.00/gal for 93 octane if I could find it.

[YankeeReb]

So the question needs to be asked, Why isn’t Schmuck Schumer hauling oil execs before congress having them justify this big run up in prices? I have my theory but I’d be curious to hear others.

[38special]

I might have to park my Lightning in the garage for awhile.

[DeaconRed]

THANK YOU ZERO.
MSM won't blame you, oh they would be screaming bloody murder if "W" was in. So it's up to FR to let the cat out of the bag.
The Cat is OUT! ! ! !

[YankeeReb]

What's causing the rise in oil prices? Many analysts blame the weak U.S. dollar, although expectations of a more robust economic recovery in the coming year have also helped push oil to over $90 a barrel in trading on commodity markets. In early trading Thursday, oil prices were up fractionally to $90.53 a barrel on the New York Mercantile Exchange.

OK and what's causing the weak dollar .....say it with me ....0bamanomics.

Kind of explains the lack of outrage over high oil prices.

The second part of this paragraph is pure spin, there is no recovery until Hussein and his merry band of Marxists are driven from power.

[pallis]

It’s the diesel prices that have to be watched. Diesel prices directly effect transportation of goods., and higher fuel prices means higher prices for everything, putting a squeeze on those extra dollars. Expect the imaginary recovery to come to a crashing halt soon.

[onedoug]

¨Let them eat cake.¨