Record Gas Prices: Some Analysts Predict $3 A Gallon By Year's End

LA Daily News ^ | Mar 1, 2004 | Brent Hopkins

[hardhead]

Los Angeles gasoline prices hit a record $2.178 a gallon for regular on Monday -- up more than 50 cents since Jan. 1 -- and some analysts openly talked about it hitting the once-unthinkable mark of $3 a gallon, possibly by late this year.

The Automobile Club of Southern California reported that the price of gas soared 40 cents in the past month, putting it more than 22 cents above price a year ago and 1.1 cents higher than the previous high of $2.167 on March 21, 2003.

[Conspiracy Guy]

I didn't say it was low. I said $3 is not high. Where in the Free world do you think is is as cheap as $3?

CG

[pctech]

I was thinking the same thing. What happened to "once we won the war our gas prices would be coming down??" Good folks here on FR were saying to be patient and wait for the war to end so we could see a dramatic drop in prices. I'm not dissing anyone, but come on now, we were being lied to?

[swarthyguy]

Inflation----it's baack!

Not a good sign for the summer heading into the election.

OPEC will try to unseat Bush as President by sabotaging the election via higher prices.

Of course, with no new refineries in the US, and individual states mandating different gasoline blends for summer, price hikes are virtually guaranteed.

Should be one national gasoline standard instead of this patchwork of states standards.

[Joe Hadenuf]

Also as has been noted refinery capaicty in the US is lacking and add in different grades of bla bla

Say, are you not the same guy that runs to every thread attacking anyone that has "had it" with our country being invaded by millions of illegal aliens?

Yeah, your the same guy all right. No mistake.

[Conspiracy Guy]

So you want more government regulations on free eneterprise?

CG

[Centurion2000]

Americans can stop crying about gas prices. We still pay some of the cheapest prices for gasoline in the world.

Gas prices in Russia 2 weeks ago ... 9 rubles per liter.

$1.23 a gallon using their conversion rates from that time.

Not bad.

[chuckwalla]

Like I said if I was in charge of pricing and listened to you I'd raise it to $3.00 by this afternoon and $3.50 by April because you'd pay it and be grateful while I laugh all the way to the bank.

[mewzilla]

Even if we increase supply, unless we increase refinery capacity the extra oil is just gonna still there until it can be refined.

[Gabz]

$1.73 for regular around here - here being No. VA.

Yikes! Here on the Eastern Shore it is $1.51 for regular.

Yesterday we paid $1.61 for regular in southern Delaware.

[Conspiracy Guy]

Shhhhhh! A few people here want to be free while the government regulates everything.

CG

[tm22721]

Bush will open the Stragtegic Petroleum Reserve just in time for low gas prices on election day.

BUMP

[Conspiracy Guy]

That is free enterprise. But that is something you are against I suppose.

CG

[Walkin Man]

Lets see...

Outsourcing and Off-shoring American jobs, kicking the door open even more for illegal aliens, little to no middle-class job creation in America, obscene CEO pay, obscene Wall Street profits, obscene gas and oil company profits, gas at a 1.63(this morning at the local QT) and rising all year to perhaps 3 dollars or more by election time.

Can you say "President Kerry"?????

Uh huh...

[Dane]

So a dollar that's worth 40% less has nothing to do with the producers wanting more of them for the same amount of a product. I hope you never attempt to run a business, at least not with anybodies money other than your own.

Not in this case because oil is still priced in dollars. The Saudi's and OPEC can try to get the dollar price up by cutting back on supply. Which it looks like they are doing, but as the price goes up more oil will come onto the market.

But the rise in price of gas isn't in the shortage of crude, but a shortage of refinery capacity and the regulations hampering the refinery capacity even more(i.e different grades of gasoline).

[xzins]

Boycott Mobile for 30 days....force one company to have an oversupply and no sales.

[chuckwalla]

That is one sided enterprise.
We need some clout to keep them in their place like unions did a long time ago.
A consumers union that was able to organize a rolling boycot.
We did this some years ago in Ca and it worked.
Boycot on oil company per day and the price will come down and they will not go out of business.
That is free enterprise.

[Dane]

Can you say "President Kerry"?????

Yup you are, IMO, with you parroting the ignorant demo talking points.

[Walkin Man]

Go ahead any bury your head in the sand, see what that gets you on election day.

The wheels are coming off of GW's wagon and you are attacking the people who are trying to warn you!

The stupid party never learns...

[snooker]

"....put a lot of pressure on Senators..."

I will take that bet.

By now you should know if it is bad for the US Dumpo-craps vote for it, or against it as the case may be.

[chuckwalla]

Think back to Jimmy Carter and never vote democrat again.