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.

[hardhead]

This couldn't happen at a worse time.

[KantianBurke]

I thought with Sadaam out of the picture and the Oil for Food bs abolished that there'd be a glut of oil coming into the market and thus decreasing price?

[hardhead]

Assuming the restored pipeline offloads onto U.S. ships. Otherwise the Frenchies will want their share.

[steve50]

$3/gal would be pretty close to covering dollar devaluation. There's a long term price to pay for printing money as a short term fix.

[Hodar]

But, but, but.... I was told that GW Bush and his cronies went into Iraq to steal their oil, so he and his buddies could all get rich off of cheap fuel....

Do you mean to tell me the Liberals were telling another lie?? < /sarcasm>

[ken5050]

Maybe not...the ANWR authorization bill can be brought up....put a lot of pressure on Senators...

[2banana]

Why don't I care that CA with high taxes and regualtions (that account for most of this increase) are now paying for it?

[Alberta's Child]

The oil supply in not really the big issue here. The major factors in driving up the price of gasoline (particularly in California) are: 1) the decline of the U.S. dollar against foreign currencies (thereby driving up the cost of imported oil even if the overall supply is increasing); and 2) California's idiotic clean air standards, which require refineries to produce a more expensive, specialized gasoline mixture.

Ironically, I believe this run-up in gasoline prices is going to have a positive impact in one respect: any state that is currently considering a gasoline tax hike this year is going to abandon those plans very quickly.

[goldstategop]

I'm glad I don't have a gas guzzling SUV.

[Dead Dog]

I'm glad I have a gas guzzling SUV.

[Fitzcarraldo]

We're being told in California that the high gas prices are because two refineries that make the special California gasoline are down for maintanence. I assume when these come back on line, the prices will come down.

[kahoutek]

The buzz words in this article are "high-powered sports cars" and "SUV's"....it's the owners of these vehicles who are at fault.

Therefore, the only possible fix is to bring back the high car tax.</sarcasm>

[devane617]

Gas prices ! I often wonder why we do not hear more outrage at gas prices than we do. During the past couple of years it seems that no matter the increase in prices we Americans just go with the flow. I am paying about $2.00 per gallon.

[Lunatic Fringe]

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

[eddie willers]

But, but, but.... I was told that GW Bush and his cronies went into Iraq to steal their oil, so he and his buddies could all get rich off of cheap fuel....

Do you mean to tell me the Liberals were telling another lie?? < /sarcasm>

<continuing sarcasm>

They are getting it dirt cheap and hoarding the blood gotten windfall profits.

</continuing sarcasm>

[stevem]

and some analysts openly talked about it hitting the once-unthinkable mark of $3 a gallon, possibly by late this year.

This I doubt, but at least gasahol will now be a stabilizing product rather than one that drives up the price of transportation.

[VOYAGER]

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

"THE SKY IS FALLING", "THE SKY IS FALLING!!"Oh, worrah worrah worrah!

[hardhead]

I first heard this news on 'The Truckin' Bozo' last night. He was talking about the effect it would have on trucking and thought the price for diesel would end up at arounds $2.75. We'll all pay for this twice - at the pump and in WalMart.

[TBall]

I'm glad I no longer have a gas guzzling SUV.

[chuckwalla]

I wouldn't count on that.
If only two are down why is all gas up?
Why are the other refineries raising prices the same?