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

[Svnla]

Our gas price went down today, from $3.32 to $3.31/gal. Weeeeeeeeeeee

 

[Doppel]

3-17-2011

Gas jumped 20 cents again today

http://news.yahoo.com/s/ap/20110317...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxwcmljZXN0b3A-


Oil prices top $100 per barrel again



Benchmark crude added $2.82 at $100.80 per barrel in afternoon trading on the New York Mercantile Exchange.

Underlined the lie.

This is exactly the kind of lie that you should be muzzled for. Not only did gas not "jumped 20 cents again today", but even in your own article it says that "Gasoline pump prices dipped for a third day". And at chicagogasprices.com the trend is negative; prices falling, per the article.

 

[Londo_Jowo]

3-17-2011

Gas jumped 20 cents again today.

Gas prices at the stations close to my house fell $0.05 to $0.08 last night.

Guess it sucks being D McOwen in Chicago.

 

[CycloWizard]

Above $101

WTF is the justification for the rising prices again?

People are willing to pay it. Until people stop paying the going rate, they should keep jacking up the price.

 

[Doppel]

People are willing to pay it. Until people stop paying the going rate, they should keep jacking up the price.

It's part of the national consciousness to complain about gas prices while filling up the F150, with an immaculate bed, the heaviest thing it ever having hauled being a lawn mower or a few bags of mulch. And when that grows tiresome, laugh at your neighbor for the rinky dink car he drives (which comparatively sips gas and gets him to work just as quickly).

 

[Capt Caveman]

3-17-2011

Gas jumped 20 cents again today

http://news.yahoo.com/s/ap/20110317...jb3JkaW9uX2J1c2luZXNzBHNsawNvaWxwcmljZXN0b3A-


Oil prices top $100 per barrel again



Benchmark crude added $2.82 at $100.80 per barrel in afternoon trading on the New York Mercantile Exchange.

Ban this lying piece of shit.

Gasoline pump prices dipped for a third day, to $3.546 per gallon

 

[ElFenix]

It's part of the national consciousness to complain about gas prices while filling up the F150, with an immaculate bed, the heaviest thing it ever having hauled being a lawn mower or a few bags of mulch. And when that grows tiresome, laugh at your neighbor for the rinky dink car he drives (which comparatively sips gas and gets him to work just as quickly).

you forgot idling the engine for 20 minutes because you're too lazy to park and walk into the chik-fil-a

 

[bamacre]

WTF is the justification for the rising prices again?

It's a commodity, and investors aren't exactly keeping money in cash considering current monetary policies.

 

[airdata]

Our gas price went down today, from $3.32 to $3.31/gal. Weeeeeeeeeeee

Yeah... where I'm at, it went up to $3.39, and then dropped a few times over the last week or so by 1c each time. Currently it's either $3.34 or 3.35.

 

[dmcowen674]

Milk prices spiking, expected to double to $8 a gallon by summer.

 

[dmcowen674]

Well crap

It's not just milk, saw news clip that coffee prices up 30% and rising too.

Biggest price jump across the board in 36 years.

Yet we will still be told there is no inflation

3-16-2011

http://www.star-telegram.com/2011/03/16/2927213/food-prices-at-the-wholesale-level.html

Food prices at the wholesale level rise by highest level in 36 years

Americans are noticing higher prices at the grocery store, and it's about to get worse.

More expensive food means people have less money for the casual spending that helps the economy grow and create jobs. And it adds to growing concerns about inflation down the road, still a worry two years after the Great Recession.

Many economists expect food prices to keep rising all year.

​

​

​

​

 

[Londo_Jowo]

Well crap

It's not just milk, saw news clip that coffee prices up 30% and rising too.

Biggest price jump across the board in 36 years.

Yet we will still be told there is no inflation

3-16-2011

http://www.star-telegram.com/2011/03/16/2927213/food-prices-at-the-wholesale-level.html

Food prices at the wholesale level rise by highest level in 36 years

Americans are noticing higher prices at the grocery store, and it's about to get worse.

More expensive food means people have less money for the casual spending that helps the economy grow and create jobs. And it adds to growing concerns about inflation down the road, still a worry two years after the Great Recession.

Many economists expect food prices to keep rising all year.

​

​

​

​

Of course this wasn't due to higher oil prices.

From your link:

Most of the increase was because harsh winter freezes in Florida, Texas and other Southern states, which damaged crops.

 

[werepossum]

Of course this wasn't due to higher oil prices.

From your link:

Ah, so global warming is the culprit!

 

[Engineer]

Oil going back down but gas, which had went down from $3.54 to $3.49 to $3.40 over the last 4 days is now back at $3.59, lol. You can't win.

 

[CycloWizard]

Oil going back down but gas, which had went down from $3.54 to $3.49 to $3.40 over the last 4 days is now back at $3.59, lol. You can't win.

The gas produced today comes from oil purchased some time before. I don't know what the time lag is, but I suspect there's a correlation.

 

[Londo_Jowo]

The gas produced today comes from oil purchased some time before. I don't know what the time lag is, but I suspect there's a correlation.

The gas prices are driven by the futures market as well. Unleaded gas contracts are shown in the commodities as well. Many stations raise their prices to help cover the cost between what they purchased the gas at and what they will need to purchase it in the near term.

http://money.cnn.com/data/commodities/

 

[Engineer]

The gas produced today comes from oil purchased some time before. I don't know what the time lag is, but I suspect there's a correlation.

Anybody paying attention will notice that the stations are very quick to raise prices but will drag it out over a much longer time period (as well as much smaller drops per time increment) when oil prices fall.

 

[WhipperSnapper]

It's down 10 cents in my locale compared to where it was 2 days ago.

Looks like we're going to get a double whammy on food prices. Mid-East unrest jacks up the price of oil which increases the price of trucking food and then wacky weather further increases the price.

Beef has become so insanely expensive, I sometimes wonder if the joys of eating beef often will become a mere childhood memory soon.

 

[Doppel]

Milk prices spiking, expected to double to $8 a gallon by summer.

Now trolling about milk? If making up numbers from thin air why not $15/gallon milk or $50/gallon?

 

[dmcowen674]

Posting from my G2 in restaurant, they have cnn on and they just posted that the american dream is officially dead. No chance of recovery per john king and suze orman.

 

[Londo_Jowo]

Posting from my G2 in restaurant, they have cnn on and they just posted that the american dream is officially dead. No chance of recovery per john king and suze orman.

Does that mean you'll be leaving for Somalia soon?

 

[dmcowen674]

3-21-2011

Oil over $103 after War with Libya started, expected to rise over $140

http://finance.yahoo.com/news/Oil-n...9.html?x=0&sec=topStories&pos=2&asset=&ccode=

Oil prices jumped to near $103 a barrel Monday in Asia after Libyan leader Moammar Gadhafi vowed a "long war" amid a second night of allied strikes in the OPEC nation.

Gadhafi also warned that Western powers would not get Libya's oil, suggesting his forces may sabotage crude installations. Some traders worry a cornered Gadhafi could lash out in a last stand that disrupts regional tanker shipments.


"A 'scorched earth' response from Gadhafi could cause disruptions to ships traveling the Mediterranean," energy consultant The Schork Report said.

"The prolonged loss of Libyan oil could push prices all the way up to the highs above $140 seen in 2008."

 

[AznAnarchy99]

Sigh. Gas went up today. 3.99 for 87 finally hit 4.05.

 

[tonygeor]

more efficient cars here we come!

 

[Doppel]

more efficient cars here we come!

The cracks in the country's love affair with 16 mpg SUVs are going to be more apparent in coming months and years. The alternatives are already available, in dealer showrooms, and cheap. Cheaper to buy, cheaper to run. More people will realize they don't need a vehicle with a 6500 lb tow rating or third row just because they've had their first baby. It becomes very difficult to envision a future in which the global economy is strong and yet gas prices in the US are under $3 for any meaningful amount of time.