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Experts: $4 a gallon gas coming soon
Money Magazine - CNN ^ | August 31, 2005 | Grace Wong

Posted on 08/31/2005 9:23:49 AM PDT by ContemptofCourt

Pricing analysts say consumers can expect even higher prices at the pump.

August 31, 2005: 11:18 AM EDT

By Grace Wong, CNN/Money staff writer

NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

OPIS tracks wholesale and retail oil prices and provides pricing information for AAA's daily reports on fuel prices.

Brockwell said with gasoline prices now exceeding $3 a gallon before even reaching the wholesale level, it "doesn't take a genius" to expect retail prices to hit $4 a gallon soon.

"Consumers haven't seen the worst of it yet," Brockwell said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: cutgastaxes; gasprices; oil; openmorerefineries; startanwrdrilling
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Hear that screeching sound? That's the economy....

And we haven't even hit winter yet. Heating bils are going to suck this year.

1 posted on 08/31/2005 9:23:50 AM PDT by ContemptofCourt
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To: ContemptofCourt
GD profiteering!

Mike

2 posted on 08/31/2005 9:24:48 AM PDT by MichaelP
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To: biblewonk

ping


3 posted on 08/31/2005 9:25:21 AM PDT by newgeezer (Pessimists are often right—and are delighted to be proved wrong. -- George F. Will)
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To: ContemptofCourt

Move on....nothing to see, no gouging here. /sarc


4 posted on 08/31/2005 9:26:49 AM PDT by Bombardier ("Religion of Peace" my butt.....sell that snakeoil to someone who'll buy it!)
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To: ContemptofCourt

I work for a municipality in the FL panhandle and was notified this morning that our next fuel purchase would cost us $3.37/gal. and that we should expect a 30-45 day delay before our next delivery.


5 posted on 08/31/2005 9:27:02 AM PDT by Icthus
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To: backhoe

pinging all cars.


6 posted on 08/31/2005 9:27:48 AM PDT by The Foolkiller ( Why......That sounds.....FOOLish!)
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To: MichaelP
GD profiteering!

What does GD stand for?

And who are the profiteers?

7 posted on 08/31/2005 9:28:05 AM PDT by Protagoras (My liberal neighbor is more dangerous to my freedom than Osama Bin Laden.)
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To: ContemptofCourt

This is not all bad news. The good news is that Barbra Streisand will be able to get into Yosemite a lot easier than when gas was cheap.


8 posted on 08/31/2005 9:28:29 AM PDT by InterceptPoint
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millions of Americans in the Gulf are homeless and hundreds of thousands of Americans are fighting and some are dying in Iraq & Afghanistan and all many FReepers are concerned about are their heating bills and gas prices...
shezzzzzz... what a sacrifice!


9 posted on 08/31/2005 9:28:44 AM PDT by kellynla (U.S.M.C. 1st Battalion,5th Marine Regiment, 1st Marine Div. Viet Nam 69&70 Semper Fi)
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To: Icthus

Makes you wonder what it's gonna take to get the gov't to a) drop the taxes and b)get refineries built.


10 posted on 08/31/2005 9:28:52 AM PDT by Terabitten (God grant me the strength to live a life worthy of those who have gone before me.)
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To: Bombardier
Move on....nothing to see, no gouging here. /sarc

Name the gougers please.

11 posted on 08/31/2005 9:28:56 AM PDT by Protagoras (My liberal neighbor is more dangerous to my freedom than Osama Bin Laden.)
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To: ContemptofCourt
Greenspan,did you hear.Enough of the interest rate hikes.
12 posted on 08/31/2005 9:29:14 AM PDT by carlr
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To: ContemptofCourt

13 posted on 08/31/2005 9:29:23 AM PDT by frogjerk (LIBERALISM - Being miserable for no good reason)
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To: ContemptofCourt
"$4 a gallon gas coming soon..."

Yea, well at least we haven't been drilling in ANWR for the last decade, destroying its pristine beauty.
14 posted on 08/31/2005 9:29:34 AM PDT by Texas_Jarhead
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To: ContemptofCourt

Gas is $3.50 in my town


15 posted on 08/31/2005 9:29:56 AM PDT by bella1
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To: ContemptofCourt

.....there goes our raises....start pinching pennies folks.


16 posted on 08/31/2005 9:30:00 AM PDT by auto power
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To: ContemptofCourt
I don't think the price of gasoline could be sustained at $4 per gallon. In fact, $3 per gallon is when I would change my driving habits dramatically.

Up to now, I've steadfastly refused to fill up for anything more than $2.59 per gallon.

17 posted on 08/31/2005 9:30:11 AM PDT by Alberta's Child (I ain't got a dime, but what I got is mine. I ain't rich, but Lord I'm free.)
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To: ContemptofCourt
And we haven't even hit winter yet. Heating bils are going to suck this year.

Tell me about it - I called yesterday for a delivery of fuel oil. She quoted me $2.4435.......but offered no guarantee that it would still be that when it gets delivered today.

18 posted on 08/31/2005 9:30:20 AM PDT by Gabz (USSG Warning: portable sewing machines are known to cause broken ankles)
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To: ContemptofCourt
Gonna cost who? I'll ride my bike to work.

Leftist weenies don't realize that it's more than just cars. Freight shipping and tractor trailers that deliver patchouli oil and Michael Moore DVDs also run on gasoline. Prices are going to go up everywhere.

19 posted on 08/31/2005 9:30:21 AM PDT by Alien Gunfighter (Socialist liberals never imagine themselves as peasants under their 'perfect' socialist regime)
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To: ContemptofCourt

Another reason why those folks who commute more than 25 miles to work are insane.


20 posted on 08/31/2005 9:30:23 AM PDT by Clemenza (Proud "Free Traitor" & Capitalist Pig)
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