Posted on 04/13/2011 6:16:14 AM PDT by Red in Blue PA
WASHINGTON - Gas prices are going up. And up. And up. And now, the Energy Department predicts the cost of gasoline this summer will be 40 percent more than last year.
In the District of Columbia, the average price of regular unleaded jumped four cents a gallon between Monday and Tuesday.
"I think it's all kind of a farce," says driver Kathryn Abate. "Because the oil prices have gone up a little, but not really to the extent that gas prices have. So it's just like a 'predicting' thing which I think is kind of unfair to consumers."
The experts blame rising gas prices on unrest in the Middle East and a fear factor that goes with it.
(Excerpt) Read more at myfoxdc.com ...
My magic eight ball predicts lower gas prices a few weeks before the next election cycle.
In other words, it will go from $5.79 to $5.62 ?
It won’t help the Rats.
In 2011, these same lefties are eerily quiet.
Same with the libtards here in CA.
I guess when you don't have the media beating the drum the sheeple on the left are too stupid to realize they are screwed.
That along with a chart indicating how much fuel has gone up under zero's reign. Of course, the station I fill up at is in a very conservative area. I'd just be preaching to the choir.
And the station owner might shoot you for sticking the stuff on his pumps. ;0)
There is only one major possible candidate that will run on “Drill baby, DRILL”. All they have to do is convince the public that it will lower the price and create jobs in all sectors. Run Baby Run!
? Uh ?
I looked at those charts and don’t understand what you are trying to teach me. The first chart has the same price as I quoted in my post for 2008. $137
The second chart is slightly lower, but the price in time is still higher than today’s price. $127
And the gas prices are still higher in comparison to 2008. So I am not seeing where your explanation substantiates today’s price on gas?
The station owner is one of a few that is not from the middle east. They all had Perry for Governor bumper stickers last Nov. The actual owner still has the bottom of the McPain / Palin sticker from 2008 on his bumper.
Didn’t read thread to see if this was posted already.
Goldman plays taps for crude rally
The brokerage firm said oil prices could drop as much as $20 a barrel this spring, in a replay of the flight from risk that swept markets last May as Greek finances imploded. It recommended that clients sell crude and some other commodities and wait for lower prices to buy in again.
http://finance.fortune.cnn.com/2011/04/12/goldman-plays-taps-for-crude-rally/
It is now more than double that amount and he has been in office less than 27 months.
At the current rate of increase, gasoline will be almost $6.00 a gallon by the time we boot his sorry ass donkey out of our White House.
There’s plenty of blame to go around. I for one won’t be defending any oil companies for tax breaks anymore, that is for sure.
Obama will not be re-elected, gas prices will be the main reason.
Most of the oil we refine is imported.
The quoted price (WTI) of oil is a domestic price.
In July 2008, the imported price of oil, most of what we use to make gasoline, was cheaper than the quoted price (WTI).
In 2011, the imported price of oil, most of what we use to make gasoline, is more expensive than the quoted price (WTI).
The basis of the average price of gasoline comes from the average price of oil.
In July 2008, the average price of oil we used to make gasoline was less expensive than the quoted market price.
In 2011, the average price of oil we use to make gasoline is more expensive than the quoted market price.
What the refineries are paying for oil today is more expensive, relative the oil price you are comparing, than they did in July 2008.
Try the same comparison of gasoline vs oil price but this time use the OPEC basket price or the Brent Crude price. Your results will be significantly different than using the WTI price. WTI today is discounted compared to most world oil prices due to a pipeline bottleneck. New pipelines are planned to better support the location of our new domestic production.
Current OPEC prices:
http://www.opec.org/opec_web/en/data_graphs/40.htm
Historic OPEC prices:
http://www.petrostrategies.org/Graphs/OPEC_Basket_Crude_Oil_Prices.htm
Summer of Despondency?
Yesterday drove past several pumps here in IL. $4.04 was the lowest, $4.15 was the highest. $4.08 on most of them. One station went from $4.08 on my first pass and was $4.12 on the return trip home.
In the 1973 -1974 oil crisis (the "oil embargo") American news media ran photos and video showing hundreds of loaded oil tankers offshore of American ports, waiting over the horizon for oil prices to get bumped up before they would come in and unload.
They were basically being used as floating storage to exploit price swings. There were so many tankers doing this worldwide that there was an actual shortage of tankers to transport new oil.
Of course in 1973 Richard Nixon was president, so the media had no problem attacking him and his policies over the price of oil. Today there is little chance they will do anything that would connect skyrocketing oil prices to Obama's inept administration and destructive policies.
$51.01 for me this morning, $4.00 per gallon.
Hopey Changey rates....
Yes you would...and you'd also be racist if you blamed it on inflation from printing so many dollars (to buy all those T-bills) that our currency is heavily devalued.
Gas is already up 35% since last year.
Obama will be “fired” by the Donald.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.