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

[Londo_Jowo]

Drive for $2.75?

Yes, $2.75/gal for all Americans except dmcowen674 and he should pay $5.00 or more/gal.

 

[mizzou]

Wouod love to see $2 range gas but i just dont see that ever happening again, more for like a weekend at best before boom or economy gets jolted and then all of a sudden the market is tight and oil back to $100

 

[EagleKeeper]

Yes, $2.75/gal for all Americans except dmcowen674 and he should pay $5.00 or more/gal.

so he says()

 

[WhipperSnapper]

Drive for $2.75?

I'll be amazed if we ever see the national average below $3/gallon again.

 

[BlahBlahYouToo]

I'll be amazed if we ever see the national average below $3/gallon again.

that's what everyone said in '08 when they last peaked at $4.00.
then within a few months, gas prices hit $1.40 and stayed there for a month or so.

 

[AznAnarchy99]

that's what everyone said in '08 when they last peaked at $4.00.
then within a few months, gas prices hit $1.40 and stayed there for a month or so.

I remember that. Wishful thinking

 

[Doppel]

I dont see why we couldnt sell a bit, .and use the $ to convert specific regions or areas into non-oil based usage ( maybe DC, NY, etc...) and just see what happens.

If our reserve capacity is so worhless and meaningless as everyone implies, lets sell as muh as we can while the price is high.

Im sure we could sell several 100 million at a reasonable cost.

So if we made 27billion$$$, how do you think we could best use that to get some new ideas or infrastrucutre rolling on a big scale? ( think maybe charging stations, funding for more hybrid tech on a bigger and more advanced scale)

If used wisely i think it could have a really interesig result.

Well it's moot because we both know it would just enter some general fund to be spent on who the hell knows what ;0

Wouod love to see $2 range gas but i just dont see that ever happening again, more for like a weekend at best before boom or economy gets jolted and then all of a sudden the market is tight and oil back to $100

I'm of the same opinion.

I'll be amazed if we ever see the national average below $3/gallon again.

If I had to bet I'd say probably we will but not for very long. But even then I'm not confident in that enough to put money in it.

 

[dmcowen674]

It's quite a testament for releasing reserve oil now when oil inventory is at 31 year highs of how corrupt the oil thugs and thieves are and how powerless an entire country is against them with many of them posting right in here.

6-17-2011

http://www.bloomberg.com/news/2011-...to-highest-may-level-since-1980-api-says.html

U.S. Oil Supply Highest for May Since 1980


U.S. oil supplies rose to the highest level in 31 years for the month of May as refineries processed less crude amid a decline in gasoline demand

Inventories increased for a fifth consecutive month to 367.6 million barrels, a record for May in data going back to 1980

Supplies were up 0.7 percent from April and 2.6 percent from a year earlier. Refineries processed 4.8 percent less crude than during the same month last year, at 14.7 million barrels a day.

“Consumers of gasoline may have been adjusting to higher prices by increasing use of public transportation, more telecommuting, more purchases of fuel efficient vehicles and cutting down on discretionary travel,” John Felmy, chief economist with the Washington-based API, said in a statement.

Demand for gasoline declined 0.7 percent from May 2010 to 9.16 million barrels a day, a two-year low.

 

[Doppel]

It's quite a testament for releasing reserve oil now when oil inventory is at 31 year highs of how corrupt the oil thugs and thieves are and how powerless an entire country is against them with many of them posting right in here.

Are you admitting to being an oil thug/thieve, dmcowen? This is progress.

 

[Engineer]

that's what everyone said in '08 when they last peaked at $4.00.
then within a few months, gas prices hit $1.40 and stayed there for a month or so.

Yep, and it was the proverbial straw that finally broke the economy's back and took us right down the shitter, hence the huge fall. Let's hope it doesn't do it again (as it's already hit us quite hard so far).

 

[Doppel]

Yep, and it was the proverbial straw that finally broke the economy's back and took us right down the shitter, hence the huge fall. Let's hope it doesn't do it again (as it's already hit us quite hard so far).

Certainly seems plausible, though there's so much wrong right now it would be hard to pinpoint a cause; is it Greece defaulting, is it housing prices that continue, years later, to plumb new lows, is it the gov money train being curtailed.

 

[Londo_Jowo]

Wow, gas close to my house dropped $0.06/gal overnight. Price as low as $3.09/gal.

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

 

[dmcowen674]

Gas in Chicago went up a dime Friday.

Stations on the corner had dropped to $4.19 and now back up to $4.29

What are they blaming it on for here now?

 

[Doppel]

Gas in Chicago went up a dime Friday.

Stations on the corner had dropped to $4.19 and now back up to $4.29

What are they blaming it on for here now?

Reported again for trolling. Gas went down on Friday in Chicago, not "up a dime".

http://www.chicagogasprices.com/retail_price_chart.aspx

 

[AznAnarchy99]

$3.67 today in orange county

 

[dmcowen674]

$3.67 today in orange county

When it gets to $2.67 give me a shout.

 

[Londo_Jowo]

Gas in Chicago went up a dime Friday.

Stations on the corner had dropped to $4.19 and now back up to $4.29

What are they blaming it on for here now?

They know that you love paying more than anyone the US and they're doing whatever it takes to make you happy.

 

[Engineer]

$3.39 in Lexington today. $3.29 after $0.10 Kroger discount at the Shell station. Not sure if I have enough points to get it cheaper at a Kroger station or not (up to $1.00 off if you have enough points).

 

[EagleKeeper]

$3.55 in many places in Ann Arbor.

Probably $.15-.25 cheaper over in Detroit - but the savings is not worth the drive.

Kroger is out here, so that is another $0.10 off the 3.55

 

[Engineer]

$3.55 in many places in Ann Arbor.

Probably $.15-.25 cheaper over in Detroit - but the savings is not worth the drive.

Kroger is out here, so that is another $0.10 off the 3.55

Kroger (at least in KY) has started allowing for more than $0.10 off if you have the points. It's $0.10 for every 100 points you have on your card, up to $1.00 off. The Shell stations will still only do $0.10 in their partnership with Kroger.

I suspect that once Kroger started working with Shell (and the $0.10 off), they discovered that people went to Shell instead of going to the Kroger station (which is typically a few pennies higher on regular (non discounted) price). They had to ratchet up the savings a little to get the business back.

 

[Doppel]

Kroger (at least in KY) has started allowing for more than $0.10 off if you have the points. It's $0.10 for every 100 points you have on your card, up to $1.00 off. The Shell stations will still only do $0.10 in their partnership with Kroger.

I suspect that once Kroger started working with Shell (and the $0.10 off), they discovered that people went to Shell instead of going to the Kroger station (which is typically a few pennies higher on regular (non discounted) price). They had to ratchet up the savings a little to get the business back.

FWIW I know somebody who's been using a 5% off shell card for years and recently was told they are cancelling it. Not because of his credit but they are no longer giving that card with its discount to him.

 

[Engineer]

FWIW I know somebody who's been using a 5% off shell card for years and recently was told they are cancelling it. Not because of his credit but they are no longer giving that card with its discount to him.

I think you know this, but I've been using Penfed's card for years because of the 5% back on gas. Still works as of now (didn't you apply for that card or am I thinking of someone else?).

 

[Doppel]

I think you know this, but I've been using Penfed's card for years because of the 5% back on gas. Still works as of now (didn't you apply for that card or am I thinking of someone else?).

You are thinking of me. Used it just yesterday in fact and also yesterday I recommended it to that same person who lost their shell discount

 

[EagleKeeper]

Kroger (at least in KY) has started allowing for more than $0.10 off if you have the points. It's $0.10 for every 100 points you have on your card, up to $1.00 off. The Shell stations will still only do $0.10 in their partnership with Kroger.

I suspect that once Kroger started working with Shell (and the $0.10 off), they discovered that people went to Shell instead of going to the Kroger station (which is typically a few pennies higher on regular (non discounted) price). They had to ratchet up the savings a little to get the business back.

Went into Kroger and was told the same by the manager. I had heard radio ads about this and wanted to know exactly.

Every 100 points (1 pt is $1 purchase) gets $0.10 per gallon at the Kroger fuel center. This is up to a total of $1 off. That means you have to spend $1K in Krogers for that month. Month totals do not combine; but the total for last month or thins month does determine the discount.

 

[EagleKeeper]

Was over in Detroit - prices are $0.10 less than Ann Arbor. $3.39 was the lowest