U.S. gasoline price jumps to 6-month high

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U.S. gasoline price jumps to 6-month high

Post  LTRT on Mon May 11, 2009 10:42 pm

U.S. gasoline price jumps 16 cents to 6-month high
http://www.guardian.co.uk/business/feedarticle/8501671

WASHINGTON, May 11 (Reuters) - U.S. retail gasoline prices soared 16 cents a gallon over the last week to the highest level in more than six months as more expensive crude oil was passed on to consumers at the pump, the Energy Department said on Monday.

Wonder if those same people are keeping track of the price like they did when the former administration was in office? Suspect
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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Mon May 11, 2009 11:07 pm

I think it's a case where the market is flooded with so many US dollars from the bailouts that its lost value and therefore we are seeing an increase in the price of oil/gasoline. That, and the fact that it always goes up as the Summer driving season gets underway. I just hope, hope, it doesn't go any higher than $3/gallon when we're at the height of the Summer.

I thought I saw an article a week or two ago that 'experts' believed the average for the Summer driving season would be around $2.30 a gallon.

I fear that if it goes higher than $3/gallon, it will put a serious crimp on an economy struggling to recover.

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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue May 12, 2009 4:39 pm

Cincy Fan 44 wrote:I think it's a case where the market is flooded with so many US dollars from the bailouts that its lost value and therefore we are seeing an increase in the price of oil/gasoline. That, and the fact that it always goes up as the Summer driving season gets underway. I just hope, hope, it doesn't go any higher than $3/gallon when we're at the height of the Summer.

I thought I saw an article a week or two ago that 'experts' believed the average for the Summer driving season would be around $2.30 a gallon.

I fear that if it goes higher than $3/gallon, it will put a serious crimp on an economy struggling to recover.

It's 2.69 on the IN toll road. Are those 'experts' the same ones that we'd never see $3/gal gas? Rolling Eyes
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Re: U.S. gasoline price jumps to 6-month high

Post  Pez on Tue May 12, 2009 5:16 pm

LTRT wrote:U.S. gasoline price jumps 16 cents to 6-month high
http://www.guardian.co.uk/business/feedarticle/8501671

WASHINGTON, May 11 (Reuters) - U.S. retail gasoline prices soared 16 cents a gallon over the last week to the highest level in more than six months as more expensive crude oil was passed on to consumers at the pump, the Energy Department said on Monday.

Wonder if those same people are keeping track of the price like they did when the former administration was in office? Suspect

Hard to tell... I did notice that we didnt open ANWR, we didnt do any offshore drilling and gas prices fell by 50%... You can blame the president all you want... as if there arent plenty of people that dont get it.

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Re: U.S. gasoline price jumps to 6-month high

Post  Guest on Tue May 12, 2009 5:33 pm

What happened to DRILL BABY DRILL ... DRILL BABY DRILL
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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue May 12, 2009 7:34 pm

Pez wrote:Hard to tell... I did notice that we didnt open ANWR, we didnt do any offshore drilling and gas prices fell by 50%... You can blame the president all you want... as if there arent plenty of people that dont get it.

Who said anything about blaming the president? scratch

I asked and will ask again...wonder if the people who kept track of the price are keeping track now.

(don't know if you ever saw the bumper stickers or not) Cool
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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue May 12, 2009 7:36 pm

Bman wrote:What happened to DRILL BABY DRILL ... DRILL BABY DRILL

I don't know, why don't you enlighten us.

I thought it was all about "we won and you didn't"
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Re: U.S. gasoline price jumps to 6-month high

Post  Scooby01_98 on Wed May 13, 2009 12:35 am

Bman wrote:What happened to DRILL BABY DRILL ... DRILL BABY DRILL

Really if the administration wants good middle class jobs they should be all for this. The amount of money made on drilling platforms by blue collar workers is great. Oh wait they are the wrong type of middle class blue collar jobs.......
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Re: U.S. gasoline price jumps to 6-month high

Post  Guest on Wed May 13, 2009 9:52 am

Scooby01_98 wrote:
Bman wrote:What happened to DRILL BABY DRILL ... DRILL BABY DRILL

Really if the administration wants good middle class jobs they should be all for this. The amount of money made on drilling platforms by blue collar workers is great. Oh wait they are the wrong type of middle class blue collar jobs.......

No question they pay well but at what cost ...?
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Re: U.S. gasoline price jumps to 6-month high

Post  Scooby01_98 on Wed May 13, 2009 10:18 am

Bman wrote:
Scooby01_98 wrote:
Bman wrote:What happened to DRILL BABY DRILL ... DRILL BABY DRILL

Really if the administration wants good middle class jobs they should be all for this. The amount of money made on drilling platforms by blue collar workers is great. Oh wait they are the wrong type of middle class blue collar jobs.......

No question they pay well but at what cost ...?

I think hurricane Katrina showed how safe oil drilling and extraction has gotten. No major spills (but yes there were some minor ones) and accidents do happen i.e. exxon valdez (but that really wasn't a extraction accident). The inspection process for these platforms is amazing, I have seen it first hand.

As for the price rise, OPEC cuts are starting to take effect. Economy is leveling or starting to improve. Remember OPEC say the price of oil needs to be between 70 & 80 dollars.

http://www.nytimes.com/2009/01/26/business/worldbusiness/26opec.html

That doesn't mean we should give up on green alternatives. After all; all of those green jobs can be shipped overseas. You don't think they can build wind turbines, batteries, etc overseas cheaper.
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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue May 19, 2009 2:26 pm

$2.45 gallon gas in town. Dibbs on $3/gal by the 4th of July? Suspect
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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Tue May 19, 2009 2:40 pm

LTRT wrote:$2.45 gallon gas in town. Dibbs on $3/gal by the 4th of July? Suspect
Bite your tongue...hard. Razz

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Re: U.S. gasoline price jumps to 6-month high

Post  iberlingirl on Tue May 19, 2009 5:08 pm

Still $2.26 at Kroger
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Re: U.S. gasoline price jumps to 6-month high

Post  iberlingirl on Wed May 20, 2009 10:03 am

iberlingirl wrote:Still $2.26 at Kroger
I don't think it is now though.
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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue May 26, 2009 3:10 pm

Cincy Fan 44 wrote:
LTRT wrote:$2.45 gallon gas in town. Dibbs on $3/gal by the 4th of July? Suspect
Bite your tongue...hard. Razz

$2.66, might have to change the prediction for mid-June. Mad
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Re: U.S. gasoline price jumps to 6-month high

Post  iberlingirl on Tue May 26, 2009 3:32 pm

$2.65 today WTF?! BS!!!!
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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Tue May 26, 2009 6:26 pm

You can thank the bailouts and the Treasury printing up all of that money for weakening the US Dollar, which in turn drives up the price of oil, which presto, means gas prices go up.

Frickin' tree huggers all wanting us to drive around in putt-putt cars... Mad

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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Tue May 26, 2009 6:29 pm

Silver lining I guess is that it's still $1+/gallon cheaper than it was last year. Neutral

I still stand by what I said earlier that the quickest way to to neutralize an economy struggling to get back on its feet is to have gas prices go over $3/gallon again. Good luck getting people to spend any money on extra stuff then.

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Re: U.S. gasoline price jumps to 6-month high

Post  Scooby01_98 on Sat May 30, 2009 3:54 pm

Just came across this topic on gas and thought others might like to read it.

http://finance.yahoo.com/family-home/article/107117/10-Things-Gas-Stations-Won't-Tell-You?mod=family-autos
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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Sat May 30, 2009 4:14 pm

Scooby01_98 wrote:Just came across this topic on gas and thought others might like to read it.

http://finance.yahoo.com/family-home/article/107117/10-Things-Gas-Stations-Won't-Tell-You?mod=family-autos
I kind of chuckled at the one part where they were talking about all gasoline nowadays is basically the same. I call bullshit. I've had vehicles that we've noticed run a lot better on BP than they ever did on Shell or Wal Mart gas. But I guess everyone is different.

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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Thu Jun 04, 2009 6:16 pm

Yippee, we got 2 price increases within 1 week. $2.89...looks like we're right on track for that $3/gal by mid June. Mad
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Re: U.S. gasoline price jumps to 6-month high

Post  Cincy Fan 44 on Thu Jun 04, 2009 6:26 pm

Well it is Hurricane Season after all... Rolling Eyes

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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Tue Jun 09, 2009 9:34 pm

Crude passes $70, US revises predictions
Crude passes $70 again, US revises price predictions upward
http://finance.yahoo.com/news/Crude-passes-70-US-revises-apf-15482181.html?.v=15

The Energy Department's Energy Information Administration said Tuesday in a monthly report that crude prices will likely average $67 a barrel in the second half of 2009, about $16 higher than the first six months of the year.

Crude prices are rising because of an influx of money from Wall Street. Investors have used oil and other commodities as a hedge against a weak dollar.

The dollar has fallen in large part because of the billions the government has spent on corporate bailouts, and that has attracted enormous sums of money to the oil markets.

We have 70, do I hear 75?
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Re: U.S. gasoline price jumps to 6-month high

Post  Scooby01_98 on Wed Jun 10, 2009 6:43 am

I'm willing to say $80 by August.
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Re: U.S. gasoline price jumps to 6-month high

Post  LTRT on Thu Jun 11, 2009 6:20 pm

Scooby01_98 wrote:I'm willing to say $80 by August.

I don't think we'll have to wait that long...

Oil surges on raised demand forecast
http://www.ft.com/cms/s/0/4d0378b4-565b-11de-9a1c-00144feabdc0.html

Oil prices on Thursday surged to an eight-month high above $73 a barrel after the western countriesí energy watchdog raised its forecast for global oil demand for the first time in almost a year.
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