Got Gas? U.S. Economy to Worsen as Gas Prices Skyrocket

[blackangst1]

Whats not amusing is that we pay more in gallons of gas per $ barrell of oil then just last year, it may be like a 10% difference

Just looked up september 2010/2011 oil prices and gas prices. Not terribly scientific but it feels more painful this year

And on the other side of the coin, in spite of current gas prices, Im happy the highest prices in the US are lower than most of the rest of the world.

 

[AznAnarchy99]

And on the other side of the coin, in spite of current gas prices, Im happy the highest prices in the US are lower than most of the rest of the world.

Not really. Certain parts of the world have much better public transportation than the US.

 

[mizzou]

Not really. Certain parts of the world have much better public transportation than the US.

NYC and Chicago are the only places I've been where public transit is feasible and more desirable then driving around in your own vehicle.

It could work in other cities but the resources needed for infrastructure are incredible. What sucks even further is that public sentiment is more negative as everyone who's used to like 2-3 bus lines in a giant metro area doesn't understand how quickly you can get from point A to point B with a massive transit system.

 

[Engineer]

Not really. Certain parts of the world have much better public transportation than the US.

and have huge gasoline taxes to pay for it...hence the much higher gas prices.

I find no silver lining in the fact that we pay less than a few other "high gas tax" countries.

It was one of the straws that broke our back in 2007 and it's doing it again now.

 

[Londo_Jowo]

and have huge gasoline taxes to pay for it...hence the much higher gas prices.

I find no silver lining in the fact that we pay less than a few other "high gas tax" countries.

It was one of the straws that broke our back in 2007 and it's doing it again now.

Spot on, excellent post.

 

[dmcowen674]

Remember I said they would be cranking up oil past $147

Now they are making up bullshit that there will be an oil shortage to justify the bullshit prices. Don't forget oil tanks have been overflowing with inventories over 30 year highs for years now.

On the bright side maybe the rest of you will catch up and start paying what Chicago has been paying:

9-7-2011

http://finance.yahoo.com/news/Oil-r...7.html?x=0&sec=topStories&pos=4&asset=&ccode=

Oil climbs above $90 per barrel as storms cut production in Gulf of Mexico

Oil surged nearly 4 percent Wednesday on the expectation that tropical storms will further hamper oil production in the Gulf of Mexico and squeeze supplies.

The storm heightened concerns about oil and gas supplies. The Libyan rebellion already has shut down about 1.5 million barrels of oil exports per day from that country. And a series of fires, oil spills and other problems in the North Sea has helped cut a few hundred thousand barrels per day this summer from an area that already was in steep decline. Analyst Stephen Schork noted that North Sea production has fallen 45 percent since April 2003.

The International Energy Agency and the Energy Information Administration warned earlier this year that production losses would help create a worldwide shortage in the second half of the year.

 

[Doppel]

<wildman's ramblings snipped>

A search of your track record of commodities predictions shows that you're so bad at it that, if anything, you're a contrarian indicator; it will go in a direction opposite to what you say. Though I grant that's difficult because you sing only one song and it's that milk, oil, etc. will skyrocket indefinitely, which it doesn't. Do you have your high school diploma?

 

[WhipperSnapper]

This thread has passed 2000 posts! I never imagined that would happen when I started it. In other news, it looks like I'm moving to a city where the gas prices are 25-30 cents less per gallon than where they are now.

 

[dmcowen674]

This thread has passed 2000 posts! I never imagined that would happen when I started it. In other news, it looks like I'm moving to a city where the gas prices are 25-30 cents less per gallon than where they are now.

Where are you moving to?

 

[Londo_Jowo]

Where are you moving to?

Obviously not Chicago. Maybe he's moving down south where they don't have city and county tax on gasoline.

 

[WhipperSnapper]

Definitely not Chicago.

 

[werepossum]

This thread has passed 2000 posts! I never imagined that would happen when I started it. In other news, it looks like I'm moving to a city where the gas prices are 25-30 cents less per gallon than where they are now.

LOL Dave catches such hell here that I forget it's your thread.

 

[Engineer]

Most stations stuck at $3.53 for several weeks now. A few by the interstate jumped to $3.69. Co-worker stated that his town jumped to $3.79.

 

[bfdd]

seeing 3.80-4 around me. such stupid shit tbh. here comes another big year for oil. at least they pay their employees something of a decent wage for the most part.

 

[dmcowen674]

Front page News says Chicago Gas Price Skyrocket

9-12-2011

http://news.yahoo.com/blogs/chicago...hest-gas-prices-120637845.html?bouchon=602,il

Chicago once again has the distinction of having the most expensive gas in the country.

ChicagoGasPrices.com says at the extremes Monday, the lowest gas prices were found at the Costco at 8400 W. North Ave. in Melrose Park, and the Sam's Club at 141 W. North Ave. in Northlake, both of which had a price of $3.72 a gallon. The highest price was at the BP station at 755 W. Lawrence Ave. near Lake Shore Drive, where gas was going for $4.49 per gallon.

 

[Londo_Jowo]

Front page News says Chicago Gas Price Skyrocket

9-12-2011

http://news.yahoo.com/blogs/chicago...hest-gas-prices-120637845.html?bouchon=602,il

Chicago once again has the distinction of having the most expensive gas in the country.

ChicagoGasPrices.com says at the extremes Monday, the lowest gas prices were found at the Costco at 8400 W. North Ave. in Melrose Park, and the Sam's Club at 141 W. North Ave. in Northlake, both of which had a price of $3.72 a gallon. The highest price was at the BP station at 755 W. Lawrence Ave. near Lake Shore Drive, where gas was going for $4.49 per gallon.

Don't like the prices......................Move!!!

 

[dmcowen674]

9-15-2011

http://www.thestreet.com/story/11250493/la-gas-prices-rise-on-bp-refinery-work.html

LA Gas Prices Rise on BP Refinery Work

Wholesale gasoline prices shot up in the Los Angeles area on Thursday as British oil giant BP(BP_) carried out maintenance work at its Carson, Calif. refinery.

The maintenance work at the 265,000-barrels-a-day refinery was reportedly unplanned.

 

[Londo_Jowo]

9-15-2011

http://www.thestreet.com/story/11250493/la-gas-prices-rise-on-bp-refinery-work.html

LA Gas Prices Rise on BP Refinery Work

Wholesale gasoline prices shot up in the Los Angeles area on Thursday as British oil giant BP(BP_) carried out maintenance work at its Carson, Calif. refinery.

The maintenance work at the 265,000-barrels-a-day refinery was reportedly unplanned.

While gas prices where I live have dropped $0.10 - $0.14/gal in the last week (Ranging from $3.09/gal to $3.29/gal) .

 

[Engineer]

Gas here is still between $3.52 and $3.48. Has been for several weeks now.

 

[AznAnarchy99]

While gas prices where I live have dropped $0.10 - $0.14/gal in the last week (Ranging from $3.09/gal to $3.29/gal) .

Well for me it dropped 3 cents in the last week after a 30 cent spike...

 

[mizzou]

Random $.30 spike near me? Wtf?

 

[xBiffx]

Oil just dipped below $80/barrel for the first time in months. Not sure its going to stay there.

EDIT: Nope.

 

[dmcowen674]

Random $.30 spike near me? Wtf?

Are you in California?

Still around $4 in Chicago and $3.75 in the suburbs.


http://www.chicagotribune.com/class...fic/la-fi-gas-prices-20110920,0,5666001.story

Gasoline prices edging lower



But prices at the pump are much higher than a year earlier. The average price for a gallon of regular in California fell 2.1 cents a gallon in the last week to $3.923. Nationally, prices slipped 6 cents to $3.601 a gallon.



Retail gasoline prices are falling, but slowly. Even worse for consumers during a weak economic recovery, the pump pain remains far above the cost of filling up a tank a year earlier.

The average price for a gallon of regular gasoline in California dropped 2.1 cents a gallon in the last week to $3.923, according to the Energy Department's weekly survey of service stations, released Monday. A year earlier, the price was $3.005.

Nationally, prices were down 6 cents to an average of $3.601 a gallon. A year earlier, the national average for regular gasoline was $2.723.

"As we enter October, we'll see markets slowly quiet down, with retail gasoline prices falling to $3.35 to $3.55 on average by Thanksgiving, with the exception being typical hot spots on the West Coast," said Patrick DeHaan, a senior petroleum analyst at GasBuddy.com, a price-tracking website.

Even with weak demand for fuel in the U.S. and other developed economies in Europe, world energy consumption will soar in the coming decades, mostly driven by China and India.

The surge in demand is expected to raise oil prices to a sustained $125 a barrel.

 

[Londo_Jowo]

Just filled up this afternoon for $3.06/gal (w/Kroger $0.10/gal discount).

http://www.houstongasprices.com/Shell_Gas_Stations/Sugar_Land/113096/index.aspx

 

[Doppel]

Oil just dipped below $80/barrel for the first time in months. Not sure its going to stay there.

EDIT: Nope.

Yep, dropping again The bad economy has FINALLY started to force oil prices down at a meaningful clip.