Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Record Gas Prices: Some Analysts Predict $3 A Gallon By Year's End
LA Daily News ^ | Mar 1, 2004 | Brent Hopkins

Posted on 03/02/2004 8:13:32 AM PST by hardhead

Los Angeles gasoline prices hit a record $2.178 a gallon for regular on Monday -- up more than 50 cents since Jan. 1 -- and some analysts openly talked about it hitting the once-unthinkable mark of $3 a gallon, possibly by late this year.

The Automobile Club of Southern California reported that the price of gas soared 40 cents in the past month, putting it more than 22 cents above price a year ago and 1.1 cents higher than the previous high of $2.167 on March 21, 2003.

(Excerpt) Read more at dailynews.com ...


TOPICS: Business/Economy
KEYWORDS: consumer; energy; gasoline; gasprices; price; pump; ripoff
Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140 ... 181-185 next last
To: chuckwalla
When oil co. profits are up over 400% it is profit driven.

Another great sounding meaningless statement. Great emotional impact without any real economic meaning without providing a frame of reference.

If they were making $0.01 for every dollar invested and jumped it up to $0.04 per dollar that would be a soaring 400% increase. Unfortunately, I can't see any reason I would invest in a company that only returns $0.04 on the dollar. Now, tell me that oil companies are making 15% or 20% return for each dollar invested and I might start thinking they are making excess profit (and invest a few of my dollars in them as well)

So Mr. "Screaming so Loudly" what % are oil companies returning for each dollar invested?

101 posted on 03/02/2004 9:28:14 AM PST by CMAC51
[ Post Reply | Private Reply | To 62 | View Replies]

To: NYC Republican
People need to get over the idea that they're entitled to cheap gas.
102 posted on 03/02/2004 9:28:43 AM PST by mewzilla
[ Post Reply | Private Reply | To 100 | View Replies]

To: chuckwalla
Well I don't buy bottled water but most of the people complaining about gas prices do. When the greed exceeds the market's willingness to pay, the price of gas will come down or stabilize.

I started driving in 1970 at 25 cents a gallon. With price wars, 15 cents was not uncommon. If prices go to $3 per gallon it will be no difference in a few years than $1.50 is now when compared to 25 cents.

Of my 3-4,000 miles per month, 75% is business. Gas is the least of my expenses even though my pickup gets only 18 mpg. Gas in the US is still cheaper than ANYWHERE else.

CG
103 posted on 03/02/2004 9:29:16 AM PST by Conspiracy Guy (The word "Tagline" needs to be added to Free Republic's Spell Check.)
[ Post Reply | Private Reply | To 95 | View Replies]

To: familyofman
Better late than never.
Or maybe we should be held hostage forever because a little planning won't work right now.
It will have some effect in that the ME oil gougers will be put on notice that their days are numbered.
It will also keep future price hikes from skyrocketing.
We should also be building more refineries and severely limiting the clout the envirowackos have over our economy.
104 posted on 03/02/2004 9:29:19 AM PST by chuckwalla
[ Post Reply | Private Reply | To 98 | View Replies]

To: varon
"..I'll bet you thought we would find WMD also..."

I hear they've found a ton of "oil-producing related programs" in Iraq. SH could have begun production within 45 minutes.
105 posted on 03/02/2004 9:29:29 AM PST by familyofman
[ Post Reply | Private Reply | To 31 | View Replies]

To: Dane
As for the dollar Steve, oil is still sold in dollars so the devaluation has nothing to do with it.

So a dollar that's worth 40% less has nothing to do with the producers wanting more of them for the same amount of a product. I hope you never attempt to run a business, at least not with anybodies money other than your own.

106 posted on 03/02/2004 9:30:34 AM PST by steve50 ("Every decent man is ashamed of the government he lives under." -H. L. Mencken)
[ Post Reply | Private Reply | To 94 | View Replies]

To: mewzilla
People need to get over the idea that they're entitled to cheap gas.

Exactly! People are complaining way too much about it. Do they want the price of oil to be subsidized by the government? Are you kidding?

107 posted on 03/02/2004 9:30:42 AM PST by NYC Republican ("LIE after LIE after LIE after LIE" - TK. GOP Reaction? {{{{{crickets}}}}})
[ Post Reply | Private Reply | To 102 | View Replies]

To: NYC Republican
They won't because they will say that bottled water is a choice. To that I say so is driving. I don't have to live 30 miles from my office, but I chose to, it's a southern thing.

CG
108 posted on 03/02/2004 9:31:17 AM PST by Conspiracy Guy (The word "Tagline" needs to be added to Free Republic's Spell Check.)
[ Post Reply | Private Reply | To 100 | View Replies]

To: NYC Republican
Besides, if the price of gas is too high, why are the sales of gas guzzlers still increasing?
109 posted on 03/02/2004 9:32:54 AM PST by mewzilla
[ Post Reply | Private Reply | To 107 | View Replies]

To: Conspiracy Guy
So if I had an oil co and read waht you said I would raise my price to you because you think it is low and laugh all the way to the bank.
110 posted on 03/02/2004 9:33:13 AM PST by chuckwalla
[ Post Reply | Private Reply | To 103 | View Replies]

To: VOYAGER
"THE SKY IS FALLING", "THE SKY IS FALLING!!"

No, the sky is fine. The money falling out of our pockets is the problem.

111 posted on 03/02/2004 9:33:24 AM PST by Joe Hadenuf (I failed anger management class, they decided to give me a passing grade anyway)
[ Post Reply | Private Reply | To 17 | View Replies]

To: hardhead
Bush had better do something to hold down gas prices. If gas is $3 a gallon in November Bush is toast. Simple as that.
112 posted on 03/02/2004 9:34:04 AM PST by Uncle Hal
[ Post Reply | Private Reply | To 1 | View Replies]

To: chuckwalla
I dont see gas co. profits as a "problem."

The reason for "high" prices is because you pay it.

Personally, I drive a Toyota Corolla which gets about 35 mi/gallon. I spend $15 a tank filling up, whereas last year I paid $12 a tank. So it doesn't bother me much when the price of gas goes up a nickel, or two, or a half dozen.

Stop buying gas and the price will drop.
113 posted on 03/02/2004 9:35:15 AM PST by Lunatic Fringe ("Fellow citizens, we cannot escape history." -Abraham Lincoln, 1862)
[ Post Reply | Private Reply | To 34 | View Replies]

To: rwfromkansas
$1.55 here in SW TN
114 posted on 03/02/2004 9:35:20 AM PST by Maigrey (Oscar winning moment - Michael Moore being squished by an Oliphant.)
[ Post Reply | Private Reply | To 28 | View Replies]

To: hardhead
Los Angeles gasoline prices hit a record $2.178 a gallon for regular on Monday -- up more than 50 cents since Jan. 1 -- and some analysts openly talked about it hitting the once-unthinkable mark of $3 a gallon, possibly by late this year.

Tap ANWR ... it's ready

115 posted on 03/02/2004 9:35:22 AM PST by Centurion2000 (Resolve to perform what you must; perform without fail that what you resolve.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lunatic Fringe
Hey you solved it.
We'll all stop driving.
116 posted on 03/02/2004 9:36:48 AM PST by chuckwalla
[ Post Reply | Private Reply | To 113 | View Replies]

To: Uncle Hal
Bush had better do something to hold down gas prices. If gas is $3 a gallon in November Bush is toast. Simple as that.

LOL. Bush has GOT to do something about the rising cost of BEEF! If a t-bone is $5 a lb in November, he will lose! Simple as that!

117 posted on 03/02/2004 9:36:58 AM PST by Lunatic Fringe ("Fellow citizens, we cannot escape history." -Abraham Lincoln, 1862)
[ Post Reply | Private Reply | To 112 | View Replies]

To: hardhead
Exactly. This is what Bush better fix soon. This angers people. Could slow recovery, also.

***We should build another reserve tank so we can manipulate the OPEC when prices get to high. Give them a taste of there own medicine.
118 posted on 03/02/2004 9:36:58 AM PST by Finalapproach29er (" Permitting homosexuality didn't work out very well for the Roman Empire")
[ Post Reply | Private Reply | To 1 | View Replies]

To: familyofman
I hear they've found a ton of "oil-producing related programs" in Iraq. SH could have begun production within 45 minutes.

ROFLMAO

119 posted on 03/02/2004 9:37:13 AM PST by varon (Allegiance to the constitution, always. Allegiance to a political party, never.)
[ Post Reply | Private Reply | To 105 | View Replies]

To: GraniteStateConservative
Surprise! Your tax cut gets spent on high heating oil and gasoline prices!

Exactly. There will be no damn tax cuts...

120 posted on 03/02/2004 9:37:39 AM PST by Joe Hadenuf (I failed anger management class, they decided to give me a passing grade anyway)
[ Post Reply | Private Reply | To 46 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140 ... 181-185 next last

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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson