Posted on 09/12/2005 10:02:32 PM PDT by kellynla
Retail gas prices broke their all-time high, surging more than 38 cents in the wake of Hurricane Katrina to an average of $3.01 per gallon, but are likely to back down a bit in the next few days, a national survey said Sunday.
"That price surge is due to the supply shrinkage caused by Hurricane Katrina," Lundberg said. Her survey was carried out Sept. 9 and August 26 at about 7,000 gas stations.
Lundberg predicted that retail gasoline prices will drop in coming days.
"From about September 2, most wholesale prices charged to stations have been dropping, and we'll see the pass-through on the street very soon."
Wholesale prices have been dropping because demand has fallen -- as it always does in September -- and many of the refineries and pipelines affected by the hurricane have returned to operation, she said.
"More than half of the affected refining capacity that was down in the Gulf (of Mexico) is back and virtually all the affected pipeline capacity is back," she said.
Still, she predicted, prices will not return to pre-hurricane levels any time soon.
Drivers in Jackson, Miss., paid the least, at an average of $2.61 per gallon of self-serve regular; drivers on Long Island the most, at $3.35.
Here are some other prices: Seattle: $2.86; Atlanta: $2.91; Los Angeles: $2.95; Denver: $2.99; Chicago: $3.04; Boston: $3.24; Washington: $3.27
The Organization of Petroleum-Exporting Countries is slated to meet Sept. 19, where it is expected to boost capacity by another 500,000 barrels per day, Lundberg said.
In addition, demand for oil from China and India is expected to drop in response to the higher prices, she said.
(Excerpt) Read more at money.cnn.com ...
Today, I have actually seen gas coming down again in the Dallas area. I suspect in a few weeks it will be around $2.50 per gallon. It is really a shame, that we must purchase refined gasoline from European refineries to meet our demand. How can the American people be so dumb and stupid, preventing exploration of oil in ANWAR and other sites and not allowing new refineries to be built here in the USA? How can the American people ever vote for a Democrat who has caused this problem? Everytime someone complains to me about high oil gas prices, I say, you only have yourself to blame. I am sure the liberals in Massachusetts will be paying big bucks for heating oil this winter thanks to Ted Kennedy, etc. And...I'll love it as they complain, blame GW Bush and empty out their pockets to keep warm. Fools!!!
Big Oil is it's own entity, like a alien lifeform, a tick.
It has no moral compass.
Lives only to suck, literally & figuratively.
GEORGE BUSH DOESN'T CARE ABOUT OLD PEOPLE.
(He wants them to freeze this winter from high heating prices)
I just say about the knocking because I use Valero gas. I'm going to see what happens if... well now that I think about it I'm using Chevron this time. I have to drive in the heat tomorrow. I'll see if it knocks. For the record it's four years old, but only has 34K miles on it.
It shouldn't be knocking at that age. I'd bet it's bad gas. If you still have a lot of that tank of gas left, you can get a bottle of octane boost at the Autozone for a couple bucks.
If your tank is half full, top off with 89.
I got suddenly-bad gas mileage on a tank of Valero gas, so I'm not afraid to criticise them openly on that basis. It was 16mpg rather than 21!
Ultimately, if your next tank ends the knocking (with other factors remaining about equal), you too will know to avoid Valero (an ironic name, if you ask me).
kelly, heard whether the special cocktail laws suspended - but only until Sep 15 - will be extended?
"heard whether the special cocktail laws suspended - but only until Sep 15 - will be extended?"
no I haven't
Good Bio page!!!!
If changing stations doesn't do it, have the timing checked. That was my problem, was cured instantly when the mechanic got done.
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