Summer gas prices, coming to a station near you!
Posted on 05/08/2007 8:24:39 AM PDT by Sleeping Beauty
DETROIT — Gas prices have spiked to a record nationwide average of $3.07 per gallon, according to the Lundberg Survey of 7,000 stations nationwide.
The nationwide average for midgrade gas was $3.18, and premium was $3.28. Analysts blame the rise on higher consumption coupled with reduced output by American refineries; they also note that there are signs that rising pump prices may be peaking.
There is some discrepancy among the groups that track gas prices. Lundberg, an independent and well-respected market research company, said prices have reached a record. But the AAA Daily Fuel Gauge Report pegged the average U.S. price of gasoline at $3.03 per gallon on Monday morning, 3 cents short of the all-time high reached in September 2005, after Hurricane Katrina.
Meanwhile, crude oil futures are declining. They ended last week at $61.93 per barrel on the New York Mercantile Exchange, about $4.50 lower than their eight-month peak a week earlier. Retail prices generally lag the futures market, so consumers often end up paying more for gas as futures prices drop.
What this means to you: The end is probably not in sight for sticker shock at the pump.
I love that! It looks so — science fiction.
I want one, too.
That’s what I’m going to have to do pretty soon. Buy something old, cheap, and super efficient. Because it’s going to hit $4 in most of America this summer.
Now, I'm going to use the other launch and just put up with the frayed nerves at the dock.
Maybe I'll get some green award for using less petrol.
A new air filter in about half the cars on the road would give the owner some bonus mileage! Also, if you don't have to have a state inspector up your tailpipe, remove some of the restrictions in the exhaust. A Flowmaster 70 Series and a chisel up the catalytic converter should due..
- Yes it already has, I drive as little as possible
Are you thinking about changing cars?
- Yes, when my current car wears out, I will definitely replace it with something more fuel efficient.
Do you commute far or do you live near your work?
- Not too far, but we are proposing going to a 4 day week and encouraging "work from home" whenever possible.
Will oil companies make record profits again this year?
- Of course.
For Bonus Points -- Riddle me this:
Why do gasoline prices go up then crude prices drop? And why do gas prices go down when crude prices go up?
- speculation in the futures market and on oil company stocks.
One trip a week to to extra curricular shopping/errands, etc. Don’t think we will change cars, but are considering buying a smaller pick-up.
...Why do gasoline prices go up then crude prices drop? And why do gas prices go down when crude prices go up?....Indeed, No order to anything with the oil exec’s staring back at the American consumer over their piles of record profits in the books. “Just go with the flow”, they laugh....meanwhile the government sits there unwilling or unable to get oil companies moving to build new refineries. The oil companies do’nt want new refineries.
That would cut into their profits by lowering the price of gas. When consumers stop spending on everything because they can only afford to put gas in their cars and the economy heads into a recession, then the thit hits the fan. The government will say, “You must spend more to get the economy moving”.....And the consumer will say “Sorry Charlie...I’m all tapped out, stick it where the sun don’t shine”.
I also noted that the states with the lowest price were lower tax states.
My question is - Do the refiners WANT to build more refineries?And the answer to your question is no. I don't think for a second that the most powerful energy conglomerate in the country is totally hogtied by environmental legislation. Reduced capacity means they make more money. Refinery goes down? More money.
Not judging it one way of the other, even though it does make me mad. It's good business for the short term. Long term, it's going to enrage people enough to vote for socialism. And people will vote socialist in the next election solely because of gas prices. Never doubt that fact. The Republicans should be out there every day with a public relations campaign about this stuff. But no one is saying anything. That won't work.
mysterio -- you win the prize for the most provocative post.
If I had an oil company and a refinery and wanted to expand I would probably choose to enlarge my existing refinery rather than build a second refinery all things being equal.
Summer gas prices, coming to a station near you!
Unfortunately, even though they have expanded refineries, total refinery capacity is lower than it was in the 80s with demand much higher. Guess what you get when that happens?
I sure don't think burning our corn liquor is a good thing!! :)
I don't like to drive anyway, so I can't do much more than bite the bullet.
My hubby just got his dream Ram 1500 Hemi. No one is buying them so we got a sweet deal.
We plan on buying a hybrid trailer and traveling while the kiddies are young.
Later we may be eating Mighty Dog, but hey, those girls are only young once.
Today here in Detroit, there is a gas war going on and idiots are lining up to buy gas at 2.79 a gallon. The newscaster (God Love her) calculated the savings and it is less than 3.00. As she said, add in the amount you are burning waiting in line, and one has to wonder if this is a good idea.
It’s the global demand, not the us demand thats driving up prices. When you purchase 60+percent of your daily needs globally, it goes to the highest bidder.
My plan ?
WHAT`S THE DEMOCRATS PLAN ! ?
http://www.dscc.org/news/roundup/20060425_gas/
http://www.factcheck.org/article461.html
http://www.huffingtonpost.com/greg-saunders/the-only-campaign-ad-the-_b_19582.html
http://www.hendersoncountyncdemocrats.org/democratic_media_campaign_begins.html
Make sure you take the Motorcycle safety class
in your area, it is well worth the effort and time
http://www.msf-usa.org/
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