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Posted: 10/15/2004 6:18:37 PM EST
I'm paying $2.13 localy for 87 octane. I've been paying over two bucks a gallon for God knows how long now.

Oil is way over fifty bucks a bbl. Will the prices ever get back to "just over a dollar" or will we be paying three or four by next year?
Link Posted: 10/15/2004 6:19:46 PM EST
$2.47 for midgrade in the Bay Area. Would not surprise me if we hit $3 for 87.
Link Posted: 10/15/2004 6:20:06 PM EST
[Last Edit: 10/15/2004 6:20:22 PM EST by fight4yourrights]
I think $2 to $3
Link Posted: 10/15/2004 6:20:44 PM EST
[Last Edit: 10/15/2004 6:22:22 PM EST by JCKnife]
I was showing around a couple of visitors from England today. They said at home gas is $6 a gallon and to drive my truck (F-150) around would cost 80 cents a mile.

Yikes.

ETA well I can see now that the math just doesn't work out on that. It would be like 40-50 cents per mile. They must have been thinking in metric or something.
Link Posted: 10/15/2004 6:30:37 PM EST
[Last Edit: 10/15/2004 6:31:16 PM EST by georgiarebel6165]
Lets hope not. Although this time last year I was predicting $3.00 a gallon by now.

The powerful elite have us bent over a barrel (no pun intended). They know they can charge whatever they want.

Supply and Demand
Link Posted: 10/16/2004 6:22:35 AM EST
It will not surprise me too much if gas is $1.30-1.40 a year from now. I paid $1.71 a few weeks back but it has gone up 20 cents since then.

Gas demand and supply are both very inelastic so small shifts in demand and supply curves can cause short-run major price increases. IN the long run the curves are more elastic.

GunLvr
Link Posted: 10/16/2004 6:27:06 AM EST
this is bullshit lets start drilling alaska and make prices drop.
Link Posted: 10/16/2004 6:29:56 AM EST
I buy into the Peak Oil theory.
I personally believe its going to get worse. Much, much worse.
Link Posted: 10/16/2004 6:30:20 AM EST
I don't think we will start seeing it that high.

The price is driven in part by speculaters. When it hits the point that people start to reduce consumption because of the cost, demand will drop, supply will rise, and the price will correct itself.

The only question is what is that magic price where we alter our behavior and consumption.
Link Posted: 10/16/2004 6:31:43 AM EST
Link Posted: 10/16/2004 6:36:13 AM EST


Why is diesel selling for more than gasoline ?
Link Posted: 10/16/2004 6:42:00 AM EST
Link Posted: 10/16/2004 6:43:13 AM EST

Originally Posted By Waldo:
Why is diesel selling for more than gasoline ?


Depends on which state you live in. It is purely a tax issue. In WA, they tax diesel really heavily compared to gasoline, so it is more expensive than gasoline. In most other states, they tax it about as much as they do gasoline, so diesel turns out to be cheaper.

Why does WA impose a special tax burden on those who burn diesel? I dunno. Because they can, I guess.
Link Posted: 10/16/2004 6:44:52 AM EST
[Last Edit: 10/16/2004 6:45:29 AM EST by Garand_Shooter]

Originally Posted By CAMPYBOB:
Why is diesel selling for more than gasoline ?

winter heating oil draw offs?



Yup, refineries are switching to heating oil for the winter reducing the facilities available for refining diesel.
Link Posted: 10/16/2004 6:47:26 AM EST
Link Posted: 10/16/2004 6:49:26 AM EST
I read a headline yesterday, saying "Alan Greenspan not concerned about energy prices".

I suppose if I were Alan Greenspan, I wouldn't be too concerned about it either.

However, for most of us peons, the energy costs are quite a concern.
Link Posted: 10/16/2004 6:49:53 AM EST
Incidentally, the reason that oil is so "expensive" is because the US Dollar has been devalued on the international currency markets in the last year and a bit. Today's price is really about $42/barrel oil in 2002 US Dollars, when oil was $35/barrel. The Europeans are paying not much more than they used to for oil; we're taking it up the ass because, e.g., the Canadian Dollar is $1.25 to the USD today, as opposed to $1.59 to the USD in May 2002. The Euro, the Pound, the Aussie Dollar, and most other currencies have similarly risen.

The USD will probably only get weaker. I realize that rates are going up right now, and this is supposedly going to make the U.S. more attractive to invest in, but the rest of the world is looking at the U.S. as the focus of international terrorism, and doesn't want to take the risk. So I see rates rising while the dollar stays flat.

Investment-wise, Japan would be the best bet IMHO, as they are artificially weakening the Yen in order to be able to sell more to the U.S. Eventually they're going to get tired of that and let it find its own level, at which point the U.S. will be paying far more for Japanese imports as well.

Link Posted: 10/16/2004 6:51:25 AM EST
[Last Edit: 10/16/2004 6:51:49 AM EST by M4arc]
IT'S ALL BUSH'S FAULT!!!





and according to Kerry, Bush is to blame for rising tutition, healthcare, and perscription drug cost too
Link Posted: 10/16/2004 6:53:40 AM EST
Link Posted: 10/16/2004 6:56:23 AM EST
When gasoline is $4, $5, $10 a gallon, I'll be the first guy in line at the pump. They can't price gasoline so high that I won't buy it.
Link Posted: 10/16/2004 7:16:13 AM EST

Originally Posted By 71-Hour_Achmed:
Incidentally, the reason that oil is so "expensive" is because the US Dollar has been devalued on the international currency markets in the last year and a bit. Today's price is really about $42/barrel oil in 2002 US Dollars, when oil was $35/barrel. The Europeans are paying not much more than they used to for oil; we're taking it up the ass because, e.g., the Canadian Dollar is $1.25 to the USD today, as opposed to $1.59 to the USD in May 2002. The Euro, the Pound, the Aussie Dollar, and most other currencies have similarly risen.

The USD will probably only get weaker. I realize that rates are going up right now, and this is supposedly going to make the U.S. more attractive to invest in, but the rest of the world is looking at the U.S. as the focus of international terrorism, and doesn't want to take the risk. So I see rates rising while the dollar stays flat.

Investment-wise, Japan would be the best bet IMHO, as they are artificially weakening the Yen in order to be able to sell more to the U.S. Eventually they're going to get tired of that and let it find its own level, at which point the U.S. will be paying far more for Japanese imports as well.




Wow, that's an intelligent post. Actual facts used in discussing oil.
Link Posted: 10/16/2004 7:18:50 AM EST

Originally Posted By JCKnife:
I was showing around a couple of visitors from England today. They said at home gas is $6 a gallon and to drive my truck (F-150) around would cost 80 cents a mile.

Yikes.




True...but their whole country is about the same size as your state.


SGatr15
Link Posted: 10/16/2004 7:19:52 AM EST
Link Posted: 10/16/2004 7:20:59 AM EST
Man, those prices are a lot higher than here in my area.

In South Carolina, the average is $1.87.
Link Posted: 10/16/2004 7:34:14 AM EST
$1.85 for 87 octane here, I filled up yesterday....
Link Posted: 10/16/2004 7:44:52 AM EST
Someone posted an article that gasoline would hit $3/gallon a few months back, man they were spot on!

I just paid $2.32/gal self-serve for 87 octane at the local BP/ARCO station just this morning. The full-serivice are running about $3/gallon.
Link Posted: 10/16/2004 7:55:06 AM EST
[Last Edit: 10/16/2004 7:55:46 AM EST by DK-Prof]

Originally Posted By mike45acp:
this is bullshit lets start drilling alaska and make prices drop.




You do know that the MOST optimistic estimates about drilling in Alaska predict that it would reduce our dependence on foreign oil by 3% or so, right? Plus, any effect on supply wouldn't be felt for about 5 years.

So Alaska really isn't any kind of immediate solution (and not really a long-term one either).
Link Posted: 10/16/2004 8:11:06 AM EST
Link Posted: 10/16/2004 8:25:18 AM EST
Regular at $1.95 in Alabama.
Diesel at $2.12 " "

I read that the "average American" will not really feel a pinch until it hits $3 a gallon!

BULLSHIT!!

I think when regular hits $2.30+ per gallon around here everything will start grinding to a halt.

They are already starting to talk about a fuel surcharge if your kid rides the school bus.
Link Posted: 10/16/2004 8:47:09 AM EST
I paid $1.89 just the other day
Link Posted: 10/16/2004 8:51:37 AM EST
http://www.gasbuddy.com/
Link Posted: 10/16/2004 9:04:27 AM EST
Fuck that!

A gallon as hits 5 bucks, the shit better glow in the fuckin dark..

Link Posted: 10/16/2004 9:09:47 AM EST

Originally Posted By DK-Prof:

Originally Posted By mike45acp:
this is bullshit lets start drilling alaska and make prices drop.




You do know that the MOST optimistic estimates about drilling in Alaska predict that it would reduce our dependence on foreign oil by 3% or so, right? Plus, any effect on supply wouldn't be felt for about 5 years.

So Alaska really isn't any kind of immediate solution (and not really a long-term one either).



I have heard 1 million bbls a day which would translate into more than 3 percent per day. I used to work in oil and gas for the Feds and at least one of petroleum geologists there though there was a lot more oil up there than official estimates let on. One good piece of evidence on this is the amount of oil Canada produced just across the border in the same geological formations.

Again with inelastic supply and demand even an additional 1 million bbls a day has a big effect. That additional 1 million bbls would be fairly secure too, unlike oil imports from Venezuela or Nigeria. Instability right now (along with speculation) are driving oil prices up.

They have wanted to drill in ANWR for at least 15 years. But we have also had cheap oil during the past 15 years.

GunLvr

Link Posted: 10/16/2004 9:12:02 AM EST
Let me get the crystal ball out. . . . . . Yep. But the magic 8-ball says check with the Ouija board.


Cheers
Link Posted: 10/16/2004 9:22:41 AM EST

Originally Posted By Paul:
The socialist are doing everything they can to raise the price up over the next three weeks and blame Bush for it. One of my wifes girlfriends claims she's voting for Skerry because the price of gas is so high. Here we're paying $2.40 and I remind her that it's been close to that several times in the past, including eight years ago during Clinton and we weren't fighting a war back then.

The BS we get on the news is that the huricanes down in Florida are the cause, gee thanks, that makes a lot of sense.



The hurricanes cost us something like 16 million bbls. Plus gas refining was screwed up at the same time by those storms especially Ivan.

GunLvr
Link Posted: 10/16/2004 9:29:05 AM EST
$2.49 a Gallon for 87 octain.

the price goes up becuase of "market forces" yet when theose forces correct themselves, the price never drops as much as it rose. for ever 10 cent increase you may see a 6 cent decrease. Thats how we will eventually creep over the $3.00 mark.
Link Posted: 10/16/2004 9:30:53 AM EST

http://www.gasbuddy.com/


That site kicks ass!!

Cheers
Link Posted: 10/16/2004 9:34:40 AM EST

Originally Posted By CAMPYBOB:
so what?

drill now.

and start pumping the ohio/pa./w. va. wells that are setting idle.




Don't get me wrong - I'm not especially OPPOSED to drilling in Alaska, I just think a lot of people are mistakenly considering it some magic bullet or solution, when it relaity it hardly affects the larger issue of our dependence on foreign oil.
Link Posted: 10/16/2004 9:35:07 AM EST
[Last Edit: 10/16/2004 9:36:42 AM EST by wganz]
It is the speculation on oil futures that is pushing the price of crude up. There are 4 large investment firms in NYC that are the main drivers in this according to what I read on CNN a couple of months ago. I would be willing to wager that they are also sKerry supporters. Inflation due to rising energy costs is a quick way to crimp the economic growth from Bush's tax cuts.

wganz

Link Posted: 10/16/2004 9:38:33 AM EST

Originally Posted By 71-Hour_Achmed:
Why does WA impose a special tax burden on those who burn diesel? I dunno. Because they can, I guess.



Just a guess, WA has an international port of entry. Imported goods are trucked east. Your state is tapping into the pockets of the transportation industry who pass those cost on down the line.

One local station here has diesel priced at $2.31. Most are at $2.09-$2.16 with Walmart in a neighboring town at $1.99.
Link Posted: 10/16/2004 10:17:54 AM EST
$2.23 a gal. unleaded...........glad to see all them Fat Suv's etc. feeding the tank as I drive by............

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