Posted on 04/04/2005 1:32:14 PM PDT by Kieri
This afternoon, local gas prices in Jackson, MI spiked to $2.44 a gallon. The lowest price I was able to snag was at Sam's Club (still $2.18 with a Sam's Card at 3PM ET), but I haven't seen a line like that since the 70's!
This is a hike of over $.20 in one day. Is this happening elsewhere in Michigan or other states? It was just $2.21 (average) yesterday!
Bend over, guys. The Saudis have a present for us...
Why exactly is it that gas prices continue to go up? This may be a dumb question but it was never clearly expalined to me.
But....but...I thought we invaded Iraq for cheap oil.
Gasoline prices are about $2.25 in Nebraska (which has the highest state gasoline tax in this area), circa a dime higher than last week.
I switched to ethanol, which is usually about eight cents per gallon cheaper.
Here in Columbia, SC, gas jumpbed .10 in one day, .46 in the past two months. The lowest you can find is around $2.14.
/sarcasm
I think you need this link! LOL
http://www.gasbuddy.com
get used to it. China and India need more and more. We haven't built a new refinery since the first Roosevelt. And..........................
2.20 here in Dallas but if you shop at Tom Thumb or Kroger you get .03 to .10 off per gallon.
$2.29 today in Iron Mountain.
Most of the reason is that the Chinese and Indians are buying more gasoline, and there's lots and lots of Chinese and Indians; many times more of them, than of us.
So even under the best possible circumstances, with all wells producing and full refining capacity, the increasing demand would still push prices upward.
Wow! I didn't know Sam's Club was selling gasoline! Around here (NE MT) gas is pricing at $2.30 a gallon, at the uhhh..*ahem* Kum & Go.
about $10-15 in the price per bbl is coming from hedge funds and speculation from brokerage houses. but the administration refuses to engage itself to break that bubble, so prices rise, and as they do, the president's approval ratings fall.
My girlfriend still thinks we did...I can't get her to explain why gas costs more.
China is filling their strategic reserves as well as filling their daily need.
Here in the Twin Cities of Minnesota, prices range from $2.01 to $2.35 for self-serve regular. Most are somewhere in between.
1) Higher demand for gas in Asia and India where people have good jobs formerly held by Americans and can now afford cars.
2) Antiquated refineries in the US that are unable to keep up with US demand.
3) Recent refinery shutdowns and pipeline problems in US that raise the demand locally.
4) More auto travel as weather improves in the US.
Having said all of that, it is curious how prices jump so fast in one day. Makes me very suspicious of gouging.
Also having said all of that, the price we pay for gas is still a lot cheaper than most places in the world like Europe and Asia, except where oil is locally produced. I think oil companies now expect the US to pay the same high prices found elsewhere.
Oil price might hit as high as $105.
If gas prices stay high, it will be THE issue in the next election, especially if it tanks the economy. Gay marriage, judges, Social Security, culture of life vs culture of death, NONE of that will even be on the radar screen. The only thing that might overshadow it is if there's another terrorist attack on our soil.
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