This Week in Petroleum: $3 per Gallon? (Department of Energy weekly press release on April 19)

Department of Energy ^ | April 19, 2006

[A Balrog of Morgoth]

The first "gas prices are $x.xx in my area, and somebody should do something about it" post in

5...4...3...2...

[snowsislander]

Sorry, I just noticed that I left out the question mark after "$3 per Gallon" in the title. Would it be possible to add it?

Thanks in advance...

[snowsislander]

Thank you!

[Wally_Kalbacken]

gas prices are $x.xx in my area, and somebody should do something about it...

Just kidding. While I support Bush and his administration I wish they had some sort of public profile on the issue of ethanol supply constrictions driving up the price at the pump as we drop MBTE. This is a fact driven issue and the administration does not seem to be capable of defending itself even when there is a defense.

[SunkenCiv]

related:

Oil falls from record high above $74
ABC/al-Reuters | 4/20/2006
Posted on 04/20/2006 4:24:26 PM PDT by B Knotts
http://www.freerepublic.com/focus/f-news/1618602/posts

[raj bhatia]

Why in the hell is there a question mark?

I filled up today @ $3.05 a gallon in Palo Alto. I am already living the nightmare.

[P-40]

This is a fact driven issue

It is one of those straight-forward problems that is easy to explain. As to why they don't...who knows.

[oldironsides]

Al Gore was a real fan of expensive gas. Didn't he say vehicles should use less fuel and one way to do it was raise the price so people would use less? Earth in the Balance was his book. This is what the Democrats want. They stop all drilling in Alaska and want to keep everyone hooked on foreign oil. The dictators of the world are blackmailing us while the Democrats help. People that vote against oil drilling in America should be tossed from office.

[Paladin2]

I bought two turbo Diesels last Spring. Also started carpooling approx 50% of the days (25% drop in commute miles). So my gasoline useage is now zero. Diesel useeage is ~40% of previous gas useage.

As Diesel is safer to store, I have acquired storage capacity for 3 monthgs of use. "Tanked up" over the weekend. Now I have no need to buy until after the 4th of July.

Oil Companies used to stockpile to even out prices and useage. Now they don't. Wake up and start to take care of yourselves. No one else is gonna do for ya. ;-)

[Drago]

You need to change it to "$4./gallon?". Over $3 here for the last 3 days, and headed for $4.!!

[buccaneer81]

I filled up today @ $3.05 a gallon in Palo Alto.

Me too. Paid $2.99 today in Columbus.

[RightWhale]

It is $3 already. Even $4 in some places. But not here in Alaska. We are still giving gasoline away for $2.41. Except in the village. It's $7 there.

[ex-snook]

For those of you in the know. How does $3.00 per gallon breakdown into who gets what - oil well, refiners, distribution, retailer, etc. ?? Anyone know a reference web cite?

[panaxanax]

"I filled up today @ $3.05 a gallon....."

Hey Raj, I did the same thing here today in upstate New York ($3.05). It hurts when you get 14.8 mpg! Do you know if gasoline prices are figured into the inflation reports?

[Paladin2]

I've seen a couple of breakdowns. One BBL crude = 44gal. So at $70/bbl, one gallon (crude) = $1.59. State taxes seem to run 20 to 40 cents. Fed taxes = ~20 cents. Distribution and refining = 50 cents. So, 40 cents for the retail guy (probably less).

Google is your FRiend.

[Kieri]

It's $2.96 here in Michigan. It'll be over $3 tomorrow, since that's the day they always hike the costs...wait...that's when they used to raise the price. Now they jack it up daily.

We've got one ethanol facility in the state and four are under construction. Now that Meijer is going to sell E85 at some of their gas stations, things could get interesting.

E85 or hydrogen? Is this going to be a replay of VHS v. Betamax?

[raj bhatia]

Actually, its not directly factored in. The price of commodities rise 'cos transportation and heating is more expensive. Its mostly factored in indirectly.

[newnhdad]

Back when I bought my car, I had a chance to buy the hybrid version but decided against it. We did the math and figured that gas would have to be $5 per gallon for four years to make it worthwhile. If we see $4 a gallon gas this summer I think we will see $5 gallon gas when Iran starts to heat up.
Doh!

[newnhdad]

Try www.nacsonline.com and click on the gas price resource kit link.
I used to work for these people and their info is rock solid.