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

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Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Oil's back down to $100/barrel. Gas prices dropped 0.05/gallon last night where I live.

Glad to see that OPEC raising production and Japan's situation finally enough to break the up trend on oil. Prices in Lexington fell $0.10 yesterday (to $3.379) but were up to $3.599 this morning. Louisville raised to $3.619 last night.

Let's see how long before gas drops. It started raising within a day of the oil price spiking...let's see how many days it takes to do a "real" drop.
 

The-Noid

Diamond Member
Nov 16, 2005
3,117
4
76
Glad to see that OPEC raising production and Japan's situation finally enough to break the up trend on oil. Prices in Lexington fell $0.10 yesterday (to $3.379) but were up to $3.599 this morning. Louisville raised to $3.619 last night.

Let's see how long before gas drops. It started raising within a day of the oil price spiking...let's see how many days it takes to do a "real" drop.

During the last run up I always found it was a 1 and 7 ratio. 1 day to go up, 7 days to go down. Maybe this will be quicker?
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Glad to see that OPEC raising production and Japan's situation finally enough to break the up trend on oil. Prices in Lexington fell $0.10 yesterday (to $3.379) but were up to $3.599 this morning. Louisville raised to $3.619 last night.

Let's see how long before gas drops. It started raising within a day of the oil price spiking...let's see how many days it takes to do a "real" drop.

There was never a shortage that OPEC would need to raise production.

It's all a scam.

Anyway, station I fill up at by work dropped a whole penny today from $3.76 to $3.75

Amazing how they jump the price 30 cents overnight but only a penny down.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
Amazing how dmcowen still doesn't understand how any of this works, even with explanations and links in the very same thread. It must be a very frustrating existence.
 

werepossum

Elite Member
Jul 10, 2006
29,873
463
126
Now there's talk of how the earthquake and tsunami in Japan could lead to higher gas prices in the U.S.:

http://content.usatoday.com/communi...-japans-gasoline-needs-may-raise-us-prices-/1

Funny, there's a headline claiming gas prices have gone down because of this.
http://chicago.cbslocal.com/2011/03/14/devastation-in-japan-leads-to-drop-in-gas-prices/

The only thing for sure is that such a tragedy as this really puts petrol prices in perspective. Gasoline prices have almost doubled under Obama's watch, mostly because of the vagaries of the market which no President really controls. Looking at these people who have lost loved ones, homes, businesses, even whole towns and cities, it's damned easy to put this increase into perspective and thank G-d we're dealing with higher petrol prices rather than major earthquakes, tsunamis, missing and dead loved ones, fires, a volcano eruption, lack of basic shelter, food, even potable water . . .

I fully expect prices to hit $5.00 a gallon this summer. And I shall pay it, limit my driving where possible, and thank G-d that my problems are such inconsequential things.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Funny, there's a headline claiming gas prices have gone down because of this.
http://chicago.cbslocal.com/2011/03/14/devastation-in-japan-leads-to-drop-in-gas-prices/

The only thing for sure is that such a tragedy as this really puts petrol prices in perspective. Gasoline prices have almost doubled under Obama's watch, mostly because of the vagaries of the market which no President really controls. Looking at these people who have lost loved ones, homes, businesses, even whole towns and cities, it's damned easy to put this increase into perspective and thank G-d we're dealing with higher petrol prices rather than major earthquakes, tsunamis, missing and dead loved ones, fires, a volcano eruption, lack of basic shelter, food, even potable water . . .

I fully expect prices to hit $5.00 a gallon this summer. And I shall pay it, limit my driving where possible, and thank G-d that my problems are such inconsequential things.

As CBS 2’s Susanna Song reports, the average price of regular unleaded in Chicago is $3.71, about 1 cent cheaper than a week ago. At the Des Plaines Oasis Mobil station Monday morning, the price was $3.73 for regular

Wooooooo hoooooo it dropped a whole penny!!!!!!!!!!!

According to the experts on here it's super cheap now.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
Short of a regime-change or similar catastrophe in a major oil producing nation (Libya doesn't count) there won't be $5/gallon gas in the US this year.
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Oil down to $97.79 per barrel on Japan disaster. Had a $0.05 drop at the pump over the last few days ($3.54).
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
"The annual bullshit excuse of the "Summer Blend" is just about here, expect at least $1 added right back on top of that $3.54"

^^^ Speaking of bullshit ^^^

Oil down again huge today but it took the bloodying of the third biggest economy to do it.
 

XZeroII

Lifer
Jun 30, 2001
12,572
0
0
The annual bullshit excuse of the "Summer Blend" is just about here, expect at least $1 added right back on top of that $3.54

Considering that almost all of your views support more regulation, it's very curious that you're surprised that there are consequenses more regulation. I realize that you're using hyperbole to illustrate a point and that you serously don't expect gas prices to jump $1/gallon just because they are switching to a summer blend. However, your Democrat views are the reason why this stuff even happens. So in essense, you're complaining that you got what you wanted.

Think about it...
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
Considering that almost all of your views support more regulation, it's very curious that you're surprised that there are consequenses more regulation. I realize that you're using hyperbole to illustrate a point and that you serously don't expect gas prices to jump $1/gallon just because they are switching to a summer blend. However, your Democrat views are the reason why this stuff even happens. So in essense, you're complaining that you got what you wanted.

Think about it...

Negative

Keeping Corporations from raping the public != regulation

It's called Government. Something we no longer have under Corporate rule.
 

blackangst1

Lifer
Feb 23, 2005
22,902
2,359
126
Negative

Keeping Corporations from raping the public != regulation

It's called Government. Something we no longer have under Corporate rule.

Regulation is the reason behind this summer blend you incorrectly bitch about.

Dumb ass.
 

Doppel

Lifer
Feb 5, 2011
13,306
3
0
dmcowen has put half the posters in this thread on his ignore list. I guess that's one way to avoid being told you're wrong, simply plug your ears. It's easier than learning.
 

Londo_Jowo

Lifer
Jan 31, 2010
17,303
158
106
londojowo.hypermart.net
dmcowen has put half the posters in this thread on his ignore list. I guess that's one way to avoid being told you're wrong, simply plug your ears. It's easier than learning.

He may have us on ignore but it doesn't prevent us from calling him out on his compulsive lying and posting of half truths/bullshit.
 

dmcowen674

No Lifer
Oct 13, 1999
54,889
47
91
www.alienbabeltech.com
3-16-2011

http://news.yahoo.com/s/ap/20110316...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxhYm92ZTk4YW0-

Oil above $98, Middle East & Japan used as excuses



Oil prices recovered from a steep sell-off and rose above $98 a barrel Wednesday


Japan accounts for approximately 5 percent of global oil demand and is the world's third largest oil consumer

The still uncertain situation in the Middle East and Japan's higher demand for oil for power generation speak against a further fall in prices.