Posted on 10/23/2021 1:54:57 PM PDT by Hojczyk
Gas prices have spiked to their highest level in seven years, according to an AAA report just released this week.
In some of the priciest gas stations in the U.S., a gallon is already costing $4.50 (or more)… up significantly from just a week ago.
And all indications point to prices rising even higher as we head into the winter heating season…
In fact, former White House economist Stephen Moore told me in this week’s podcast that he predicts “$5 oil at the pumps quite soon.”
You may remember that back in June, I wrote you could expect $75 to $100 oil before the end of the year, and, sure enough, we’re already there. The price of the key U.S. oil benchmark is around $82 a barrel as I write. And Brent crude oil – the international benchmark – is at multiyear highs as well… It’s around $84 per barrel today.
Oil has a direct correlation to gas prices, naturally, so Americans should be prepared for this inflation… at the gas pump and elsewhere.
Oil producers are clearly wary about the current regulatory environment, and they aren’t racing to replenish the low supply.
We can see evidence of this in the futures markets, too. The Wall Street Journal reported over the weekend that traders are betting the U.S. oil benchmark will surge above $100 a barrel this year, with some betting that the global benchmark, Brent crude, will reach a record high of $200 a barrel by December 2022. The article also warned of expected volatility…
(Excerpt) Read more at americanconsequences.com ...
Probably for the first time in history, the People got what they voted for. And the best part is that it is not over. In fact, it hasn't even begun. The People of the United States will feel a close kinship whit the people of Venezuela. Who like them, voted themselves into the mess they are in. With two exceptions. 1 [one] The people of Venezuela had the intelligence to catch and prepare the rat for eating. The People of the United States do not. They cannot breathe without a Government Program telling them how to breathe. They know know a hell of a lot about diversity and who is a racists. How that tastes when you eat it, they are about to find out. Hopefully this will be a long cold Winter. Followed by an equally long hot Summer. They have been earned.
Per biden $5 / gal is too low. biden wants $8 / gal or more
It ain't gonna happen.
You want a new spouse? Just define gender and I’m yours!
Democrats buy gas too. Maybe enough of them will wake the heck up.
Gold is less than $8/oz. away from the last highs of $1,800.00/oz.+ Mama Like. So, yeah, there’s an up-side to Dementia Joe and his Merry Cabal. ;)
Had my first $50 fill up in a 4-cylinder Ford Escape last week. I SO need a new car, but I’m sure not buying one now.
Come on, Girl! One more winter...you can make it one more winter!
Taxes on gasoline
$4.00 in MD.
I see them at the entrance of the local Walmart and the I77 ramp to Fort Jackson’s gate.
Predictable as the sun.
Since I am recuperating from a pair of lung clots, no driving for a while.
Nowhere to really go.
Even Trump was ALL IN for burning ethanol as a vehicular fuel. Sick IMHO.
https://www.pure-gas.org/index.jsp?stateprov=NE
What nobody is talking about is diesel prices and parts. When those trucks stop running kiss it all goodbye.
The stuff I use is up $0.20 in the last week.
Let’s go Brandon!
How many acres is that based upon?
We have people with large farms in our area getting $60-70k per month. Must be nice. We have a small farm under lease but no royalties yet but we did get up front money of 5500.00 per acre. I love these high prices as they may finally pump on our grid
A farmer friend of mine is making do much he buys 1-2 brand new tractors every year + equipment purchases just to burn through the money instead of paying taxes
3.55 or 3.60 for 87 octane in eastern WA but I drive only 5 miles in a normal day.
But I also have a performance summer car that loves 92 octane E10 with 1.5 gallons of E85 mixed in. Without the E85 it gets 33 MPG on the highway; haven’t recorded mileage with (economy isn’t the point, then!).
Doordash driver here. $3.55 at the Costco near where I live. And that’s the cheapest anywhere around here.
Break even? Depends on the day.
That his actions caused. Worst President Ever. #jimmybiden
Biden’s gas lines will form again.
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