Gas Prices Spike to $2.44/gal (MI)

The Gas Pump | 04/04/05 | Kieri

[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!

[Max in Utah]

I switched to ethanol, which is usually about eight cents per gallon cheaper.

Yes, but how many miles are you getting per dollar's worth of fuel? That's the bottom line.

[Kieri]

Here in Macomb county I paid 2.15 yesterday and today I passed the same Speedway station selling for 2.45. I said a prayer of thanks that I bought when I did.

It keeps getting worse.

A Marathon station in Lansing is selling it for $2.54.

[apackof2]

Yesterday gas was $2.18, today it is $2.43 in central Michigan

So where is the Iraqi gas?

[netmilsmom]

>>A Marathon station in Lansing is selling it for $2.54.<<

Oh Poop.
There goes my plans to go "Up North"!

[Kieri]

The Mobil at Grand River and Kent Lake is at $2.35 at 3:39PM. Good luck.

[Blzbba]

"Bend over, guys. The Saudis have a present for us..."


Yeah, really. You think they'd be a little nicer to the country that finances their terrorists!

[Blzbba]

"I'm beginning to think that knocking over one of those fuel trucks might be a crime in the future that people will commit."


Paging Mad Max....

[MD_Willington_1976]

The lowest price I was able to snag was at Sam's Club (still $2.18 with a Sam's Card at 3PM ET)

Just kidding...LOL

[Kieri]

Lansing TV station (News 10) is reporting that reps for oil companies are blaming it on crude oil prices!!!

[bigsigh]

and of course as has happened before, the companies will have a record profit yield for the second quarter of 2005.

[Kieri]

According to the news, the SECOND theory about the gas price spike is the changeover from winter gas to summer gas, an ENVIRONMENTAL requirement. They said if this is the case, the price will show up all over the country. That hasn't been tallied yet.

Either way, this sucks.

[retrokitten]

I'm in the western/southwestern suburbs and we just have regular stations. They might have some special fancy stations in the city, but we have your standard BP, Mobile, Shell, Citgo, 76, etc. stations in my area.

After I hit my last post I was thinking about a few summers ago (at least 5-6 years ago) when there were a few stations that had gas at less then a dollar a gallon for about 2 months. It was not uncommon to find gas at $0.89-1.10. Has demand gone up that much in less then 10 years?

Anyway, I'm not going to complain that much (notice I didn't say, 'not at all' LOL!) because gas is still pretty cheap compared to everything else we buy.

[pageonetoo]

I'm beginning to think that knocking over one of those fuel trucks might be a crime in the future that people will commit.

[Trader D]

All of the supply & demand reasons you list would certainly put some pressure on gas prices but, the main reason for the huge increases we're seeing now is that the US dollar is at an all time low compared to other world currencies due to the huge deficit. Oil producers must charge a lot more "dollars" to get the same value as before for their oil. Thats why gas prices are rising so dramatically here, but not in other places like Europe where they are staying relatively stable since their currencies are near all time highs right now. Although they still pay more for gas than we do.

[retrokitten]

Thanks for that! It makes alot of sense.

[Deguello]

"hedge funds and speculation from brokerage houses"

You are on the mark, but note that no one will respond to this.

When the Futures Market tried to inflate crude prices about 15 years ago, they couldn't carry enough investors (patsies) and after their money dried up the market tumbled back down. I was looking for brokers jumping out windows, but they seemed to have hedged themselves.

[Dan from Michigan]

That's one of the two worst in the entire state. The other really bad one is I-96 and Webberville.

[Max in Utah]

I have high hopes for this new recycling process:
Changing World Technologies

America generates vast quantities of agricultural waste which, if converted into oil, could power all the trucks and trains in the country.

[angelanddevil2]

I paid $2.44 a gallon yesterday in the San Francisco Bay Area. I didn't remember the last price I paid, but I told my son "holly shomolly, $2.44!!!!".

[balch3]

Guess again. You country club RINOS won't get social conservatives to go to the back of the bus that easy.