Ga$ Price How high will they go?

[Hank Marvin]

Originally Posted by Gumby No your math is wrong. It's actually $8.62 at the current exchange rate of 1:1.57 @ 3.78541178 liters per gallon

There I was thinking that there is 4.55 litres in a gallon,

[Gumby]

Originally Posted by manta2009 i said a full tank. my 2003 fiat stilo has a fuel tank capacity of 55 liters, 1.61€ per liter thats 88.55 Euro = 138.998 US Dollar my 1975 nsu ro 80 with rotary engine has a cap of 80 liters, thats 128.80 Euro = 202.179 US Dollar so how about that christmas gift?

The $9.57 is how much it costs per gallon in USD give the price in euros per liters that you provided… your math was slightly off. Keep in mind that the average take home income (ie after all taxes) in your country is twice what the average take home income is over here. Your cost of living is also comparable with the way current exchange rates are right now. So your current prices are very comparable in that it is affecting us EXACTLY like it is affecting you. The world is suffering high gas prices everwhere even with the price discrepencies the residents of those countries are affected just the same... the US has it worse in some respects because of the size of our country.

[Hiro]

Originally Posted by OpelGT-de ..some cents more in Germany

& some more in France too!

[Hiro]

Originally Posted by jlthunder So why is diesel cheaper than gasoline in Europe, while it is the opposite here, lately by about $1.00/gallon?

less tax in diesel here in France I guess,
but this year diesel price is similar to SP95 gas so...

Hiro

[baz]

Originally Posted by Hank Marvin There I was thinking that there is 4.55 litres in a gallon,

US gallon is 3.8 litres ( they do every thing small but food so they can have bigger numbers , think thats why every thing is weighed in pounds instead of tons and tonnes like the rest of us )

[traytodd]

Gas has actually dropped a little here in NorCal. The last tank cost be $4.389/gal.

Terry
Placerville, CA

[West Coast GT]

I just heard that a 60 MPH National Speed Limit is being introduced in Congress. That makes the 400 hp hemi engine seem pretty useless doesn't it?

Last night just before mid-night some young guy in an SUV blew past me on the freeway. He must have been doing well over 90 mph. He didn't seem to care I was in clearly marked Sheriff's vehicle. But I'm not an officer, just Search & Rescue, so I can't ticket or arrest or chase; nothing fun I didn't bother to call it in, figuring his penalty will be at the gas pump. I hope it's some kid burning through his dad's $130 tank of gas.

[Hiro]

Originally Posted by West Coast GT I just heard that a 60 MPH National Speed Limit is being introduced in Congress. That makes the 400 hp hemi engine seem pretty useless doesn't it?

that's exactly what happened in France in 1973 upon the first oil shock,
speed limit was introduced everywhere in the country & car racing was banned.
as a consequence most of the small french race car building companies collapsed,
even majors such as Citroen struggled to survive because they've just released very fast models like the SM-Maserati coupé (ca. 250 km/h at the time...)
Hiro

[Ooooner]

I just filled up for $3.74 a gallon here in North Carolina.....

[dcm013]

Guess I need to fit a huge aux. tank into the Manta's trunk when I come down to the National meet .

Don

[Sparky73]

With Hurricane Ike getting closer and closer to Texas, I thought I would bring this forum up again.

Here in Michigan, there is so much chaos due to the "rising gas prices" because of the hurricane. Has anyone seen a significant change yet? If not, what do YOU expect will happen?

I've heard rumors all day by numerous people that gas, now $3.89, will jump up to $6.00 by the end of the weekend. Isn't that illegal?

[jlthunder]

Well, the price per barrel is just under $101.00 today so I don't see this happening. I think the rumor mill is going strong but I could be wrong.

[Paul]

The price for regular jumped from $3.45 yesterday to $3.89 today!!!

[namba209]

It's the bean counters at the oil companies. The oil coming in from OPEC is of higher quality than the well in the Gulf and we don't have many refineries than can process Gulf oil. If we did, we wouldn't be dependent of OPEC oil. tHINK ABOUT IT, we don't have enuff refineries to process our own oi!!!

[BMWonly]

Gas prices in Northern California are actually lower than a few months ago. Regular at my favorite Chevron station is $3.75 (no-name gas is insignificantly cheaper), down from about $4.40 earlier this summer. A friend of mine in Idaho pays 30 cents more, and I thought CA was expensive !!!

We'll see what difference the hurricane makes ...
Hope our Opelers are safe.

Dieter

[traytodd]

I paid $3.69 this moring for Shell in Cameron Park, CA. CA gasoline prices should not be impacted by Ike because most of our crude is local or north slope. The refineries here service just the west coast since there is limited pipeline capacity over the mountains.
Government could help at this time by suspending the local designer gasoline rules. This would permit sharing and make it easier to import fuel from Canada and other places.

Terry

[opelspyder]

It went from $3.55 to $4.99 in some places near by here in TN due to the storms. In one day! It is $4.29 here as of now.
Keith

[jlthunder]

I'v noticed a 10-30 cent spike over the weekend. And they say speculation has nothing to do with it Greed. Oil is down $5.00 as of this morning to 95.50/bbl

[traytodd]

Hopefully things will not get too crazy with gas prices while the LA/TX refineries are down. One minor reason crude is down is because down refineries do not consume it. I read somewhere that both the Baton Rouge and Baytown Exxon Refineries are down. That is 1 Mbbl/d off line for this one producer. I have worked in both those plants. Exxon can afford the losses but I am sure they are not happy. Restarts will depend on the amount of damage and the availability of electricity and workers. Most employees are probably like Tom, looking for shelter for the family first.

Terry

[jlthunder]

The price per barrel has doubled over the last few months. Will this yo-yo effect ever settle down?

[Aardvaark]

Doesn't look like it will. Until domestic oil supplies increase.

[OpelAl]

my belief is that after the gas went over 4.00 a gallon last year was a huge factor on the economy, gas prices go up, money budgeted for other expenses
was needed to fill your gas tank.
also rise in gas affected the price of food and goods to rise,also caused higher energy cost.
just my belief.

[opelgt73]

Originally Posted by jlthunder The price per barrel has doubled over the last few months. Will this yo-yo effect ever settle down?

When the fed stops messing with "monetary policy".

Here is what I see happening. It will fluctuate around 60-100 for a while until the economy turns around, then it will skyrocket. Then the current Administration will call this a "Crisis" that will have to be fixed yesterday, and then proceed to ram legislation through congress that nationalizes the oil industry.

[Aardvaark]

Originally Posted by opelgt73 When the fed stops messing with "monetary policy". Here is what I see happening. It will fluctuate around 60-100 for a while until the economy turns around, then it will skyrocket. Then the current Administration will call this a "Crisis" that will have to be fixed yesterday, and then proceed to ram legislation through congress that nationalizes the oil industry.

Any chance a nationalized oil industry would be able to drill in ANWAR
and off shore? It seems to me if CA allowed drilling off shore, the revenue
could go aways to helping their budget problems. And the increased supply would help smooth out the supply/demand.

[opelgt73]

Originally Posted by Aardvaark Any chance a nationalized oil industry would be able to drill in ANWAR and off shore? It seems to me if CA allowed drilling off shore, the revenue could go aways to helping their budget problems. And the increased supply would help smooth out the supply/demand.

Hahaha Yeah right. Every time the government gets involved we get political decisions not economic ones. Which IMHO causes market dislocation and inefficiency, as well as generally being more costly.

Here is what would happen (in my opinion) if the government got involved.

-The Government will by force dictate that contracts will only be awarded to Union contractors instead of competitively bidding on the open market.

-They will dictate mandatory "inclusion" or "participation" percentages of contracts to be awarded to women owned or minority owned contractors. Sometimes as with some union contractors they are the most competitive, a lot of times that's not the case. If they were just as competitive the government wouldn't need to 'mandate' their use. Political, not economic.

-Lobbying groups with "green" agendas would lobby to raise the price of fuel so that consumers are forced to buy "green" cars. Again political, not economic. There has already been discussion by some politicians of raising the fuel tax so that gas stays at $4/gal for this same purpose.

-The "Green" lobbying groups would also lobby to keep ANWAR closed, so no dice their either.

Is there anything that the government gets involved with that it does better (cheaper or higher quality) than the private sector?