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.
INCREASE YOUR MPG.
K&N Air filter, dynomax low restriction muffler, mobil 1 oil, take out the noise reducer in the airbox (33% restriction) and I boosted my PT’s mileage by about 4mpg. No other PT is getting 20+mpg around town I bet. PT’s are known for poor mileage but I knew I could boost it.
Electric bicycle (w/optional trailer) for errands around home. (it goes up to 28mph).
((Well, if it WAS for oil, it backfired in so many ways))
Please explain.
((Well, if it WAS for oil, it backfired in so many ways))
Please explain.
Not to sure about the electric bicycle, i have a tendency to fall off, but the rest is a good idea. Those modification go along ways with a truck like mine. 2006 Z-71.
No. My truck hauls ass. Once in a while a cutey one:):)
I already run a K&N and use Mobil 1, don’t think I’ll mess with the exhaust unless it’s a quiet system, but i am curious about the noise reducer, where is it located
Crude oil prices make up around 50% of the costs of gasoline and refining and profit comprise about 19%, the same percentage as federal/state taxes.
Less joyriding, motorcycle looking more attractive.
My 1500 mile auto trip to see my SiL is going to be replaced with putting my wife on a plane.
Her airline ticket will be cheaper than the auto fuel.
I stay home and dog sit.
Agreed....I have had a K&N filter for over a year now and all I do is clean and re-oil it. It has helped mileage.
By the end of summer you’ll have over 10 gallons of condensed water in the bottom of that thing; I hope you have accounted for that.
Modern gasoline doesn’t store well, especially in small quantities; did you put stabilizer in when you had it filled?
“having three different grades at the pump drives prices up”
There are really only two different octane levels at any pump,
87 and 93 octane the middle is a blend of the two at the pump.
However, blending in MTBE, ethanol and other chemicals mandated by stupid laws in different states makes production costs at refineries go up.
I was looking at Hybrid cars because I am in the market for a new car since mine is a 1997 and has used it usefulness. In 2008 is when I am purchasing the new car. Well anyway, I was looking at the Hybrid and noticed that the gas milage was practically the same as a regular car so what is the point?
You missed the memo! Well let me state the obvious! Cheney has all that "stolen" oil in super tankers and is selling it to China. ;-)
That really puts it into perspective. A bit more than one month of our morgage and people are complaining. Overhere in Italy (military) we pay close to 6 dollars a gallon.
buy a Honda Civic (non-hybrid) instead
Hybrids only work if you do ALOT of stop and go city driving under 30 mph.
I also would look into how much it costs to replace those hybrid batterys before I signed up for one.
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