Ga$ Price How high will they go?

[baz]

just a follow up on gas pricing here

should go in the humour section realy but does relate to what folks will do here for cheaper gas

Petrol Direct - petroldirect.com

enjoy the read and dont forget to look in the specialist fuels section jeff you might need some of this

[jeff denton]

Actually, I'm kind of thrilled with where motorsports is heading, according to the latest issue of Hot Rod Magazine. You don't need gasoline to go fast anymore. Let's go there ASAP!

[Hiro]

Originally Posted by baz just a follow up on gas pricing here should go in the humour section realy but does relate to what folks will do here for cheaper gas Petrol Direct - petroldirect.com enjoy the read and dont forget to look in the specialist fuels section jeff you might need some of this

I would go direct to some "Crystal Energy",
Sounds very cool!

[Sparky73]

Just a follow-up to an old thread. Gas prices here in Saginaw, MI just hit a record high of $3.79

[opelgt73]

They're at 3.60 here in Indiana. Just this week I bought a '91 CRX HF (50+mpg) to be my daily driver.

[markandson]

I just paid $3.92 for the good stuff at Sunoco here in New York and it is one of the less expensive stations around.

[PROPEL]

NYSun article suggests that $10/gallon is possible!

[benncojr]

Well the price in Atlanta is now $3.62/gal.

I put the line in the sand at $3.00/gal for me to start riding the bus... I have been riding the bus for almost 2 months now.

[jlthunder]

The price at the pump is bad, but I have cut back on my driving. The thing that is going to hit me hard is "heating oil". A few years ago, it cost me under 1K to heat my small house, this year will cost 4-5K. This is the storm on the horizon.

[Sparky73]

Originally Posted by opelgt73 Just this week I bought a '91 CRX HF (50+mpg) to be my daily driver.

I am now kicking myself. About 3 or 4 weeks ago there was a 2001? Toyota Corolla for sale about 5 minutes from me. Car was in great shape with only 80,xxx miles. Had the 5-speed and claimed to get around 30-35 MPH City. They were only asking 3200 OBO! That is nearly 3x the mileage I get in my truck.

Forgot to add, it's $3.79 for Regular and between $3.89-3.99 for Premium.

With these prices it is costing me $100 to drive 316.62 miles. I should have never figured that out..

[opelgt73]

Originally Posted by opelgt73 They're at 3.60 here in Indiana. Just this week I bought a '91 CRX HF (50+mpg) to be my daily driver.

Wow, well I was wrong, I filled up right before lunch it was $3.549. Ten minutes later I went to lunch and drove by the same gas station. It is now $3.699!!

[benncojr]

Originally Posted by jlthunder The price at the pump is bad, but I have cut back on my driving. The thing that is going to hit me hard is "heating oil". A few years ago, it cost me under 1K to heat my small house, this year will cost 4-5K. This is the storm on the horizon.

Time to convert to solar heating or geo-thermal or just insulate the place so it is very tight or do all of the above.

I agree with you we have not seen the worst of it yet.

[ungermm]

It will get worse before it gets better, and then it will get even worser. That is the typical gas price trend. Until we get off foreign oil dependency, this will be the norm. When alternatives to foreign oil are finally widely utilized, we will see prices drop like never before.
Jerry

[jeff denton]

Why would the prices go down?
It's costing more and more to explore and exploit the crude oil. It's costing more to ship it. Then refine it. And ship it again.
Obviously we are glad to pay $3 or $4 or $5 per gallon. Okay, maybe not glad, but we will pay it. Otherwise we don't drive our cars.
Remember it's not the cars that are using up the oil. It's the plastics production industry. And the shipping business. Then the mining and construction. I don't even want to know how many gallons of fuel a day the military is burning up. Disgusting.
Yes we'll see real soon just how much we will pay for gas. Surely the oil companies are curious, too. They've gotta be kicking themselves for "giving away" fuel all those years when they could have been charging double or triple.

[PROPEL]

OPEC: Oil at $100 not our fault.


"The problem is not shortage of supply... I think the main problem is outside the oil market. Too much liquidity is available," Ghanimifard said. "A big part of it is in the paper market of crude oil."

Translation:

The Federal Reserve has overprinted tons of their worthless paper money, so the U.S. fiat petro-dollar is tanking, and causing world oil prices (denominated in dollars) to "go up" (inflation). Btw, gas prices in other countries have remained relatively stable when compared to North America.

Don't you just love it?

[jlthunder]

Originally Posted by benncojr Time to convert to solar heating or geo-thermal or just insulate the place so it is very tight or do all of the above. I agree with you we have not seen the worst of it yet.

The problem is I can't insulate. I have a 150 yr old house made of stone walls 2 ft thick.

[baz]

yep prices have been pretty constant here


going up constantly that is

gas is now just over $8 a gallon (us gall) or $9.90 for a uk gallon

diesel is just under $9 a gallon (us gall) or $10.45 for a uk gallon

i think the cost changes in the US are not so much to do with the way the yo yo ($) goes but the way the US is or was pumping more oil into the ground than its taking out to keep an oil reserve for the future , hording can only hurt the price not bring it down

[Paul]

The other major culprit are the options and commoditites traders... With a declining to flat stock market, they are looking for other ways to invest cash and make a hefty return..... So they are trading in the oil market. This has had an even greater impact than the weak dollar vs the euro. But, this has received little press coverage.... The weak dollar excuse is an easy, non-personal target and after all, we can't make the greedy capitalists look like the bad guy.... they're only trying to make a buck.... at the expense of everyone else.

Another silent, mid-major player in the supply/demand equation has been the US government's large oil/gas purchases to increase the size of the emergency stock piles.... These purchases have been of enough volume to offset the reduction in demand from the general consumer as we slow down our driving habits and reduce our weekly miles driven...

Yes the hefty volume of diesel fuel comsumed by our forces in Iraq has had in impact on diesel prices.... ever wonder why diesel costs so much more than gas these days???

Unfortunately, there are many forces at work and we'll probably never see oil and gas prices return to a level anyone would consider normal or reasonable. It will take a large and sustained effort from everyone on many fronts to win this battle. It will take conservation, exploration, investment in existing energy capacity and development of new/alternative energy sources each in large numbers to get us out of this mess. Conservation is the only short term answer WE (the general puplic) have. Exploration and additional refining capacity will have a delayed impact, as a new field may take 2 to 5 years to bring into play and a new refinery would take 5 to 10 years to build and bring on line.

There's no magic wand for this one....

On the bright side... The next economic boom will be in the alternative energy field. As the rest of the jobs are outsourced, the new jobs will come from all of the emerging business that will come as a result of the development of new alternative energy sources.... So if you have kids in college, that's where I'd steer them ...

[jeff denton]

Originally Posted by Paul On the bright side... The next economic boom will be in the alternative energy field. As the rest of the jobs are outsourced, the new jobs will come from all of the emerging business that will come as a result of the development of new alternative energy sources.... So if you have kids in college, that's where I'd steer them ...

Absolutely!
I saw a fascinating show a couple weeks ago, I'm surprised nobody here has brought this up yet. It was "Gadget's Garage" or something like that.
He converts cars to electrical power. Very quickly, perhaps too quickly, I would be going into electrical safety much more than the show protrayed.
Now this wouldn't necessarily be for the typical throw away car, but more for classic cars that one might want to actually be able to keep and enjoy for a long time. The one they did on the show was a 68 Camaro, but he prefers to do smaller sports cars generally.
At the end of the show, he said "one down, millions to go."
Which made me think, "yeah, right, like he could do a million of 'em."
No, he can't, but were I looking for an automotive related business venture I'd be on it like stink.
I didn't go into a lot of the details here like I could, to keep it short, but who knows where this thread may go now?
Nice one, Paul.
Take it away, guys.

[West Coast GT]

I'm of the belief that a major component of the crude oil price situation is due to emerging economies (China being a major player) developing more manufacturing & infrastructure. Because they don't have their own energy resources they must compete in the world market and demand is far outpacing supply.

Maybe all the oil is going to India to keep all our call centers on-line!
______________

I'm damn glad my hobby car is an old sports car that gets good mileage rather than the '63 Studebaker Hawk GT or '63 Lincoln Continental as I was planning on.

I've been waiting for the twins to get out of college to buy a vintage Corvette. Looks like that will go on hold for a long, long, time now.

[Sparky73]

You know.. I definitely see the prices effecting more people recently then I did even 6 months ago. One of the things that is happening here in Michigan is the rise of the Min. Wage. Not too long ago, and for the last 10 or so years, the minimum wage was $5.15. Now here in July 2008 it is supposed to go up again to $7.40. Now, smaller business's can't just hire fewer people because they need back-up incase someone calls in. This causes them to work the same amount of people at about 1/2 the hours. Here are a few examples.. (I could go on for a while)

-My previous job, my hours got cut from 4-5 days a week to 2-3 if I was lucky. Only a 30 minute round trip and still I found myself putting half of my money into gas.

-My buddy works in a Grocery Store Deli. He is now getting anywhere from 14-20 hours a week, with a 40 minute drive to and from work.

- My sisters friend, still in High School but 18, works fast food at Taco Bell. She usually works like 4 hour shifts, 2-3 days a week. She makes just enough to fill her tank once a week.

Now you've got to remember, I think it was in 2006 or 2007, Michigan was voted the worst state to find a job in. So it's not like these 'kids' can just go out and find a better job with a few more hours. I had been looking for a new job for about year, and the only reason I got one was because I had good references.

That is what bothers me the most. Parents want their kids to go out and get a job.. which is the right thing to do.. but I know how it feels to finally get that job, and not even be able to spend any of your earnings.

[neuropel]

Just saw on the news:

BP profits up 65% this quarter
Shell profits up 25% this quarter

Both due to record fuel prices.

[oldopelguy]

Oh well, since I started driving with $.78 a gallon gas and $3.25 an hour paychecks, now that gas is $4 a gal all I need to do is keep making over $16 an hour and it's a wash, right? No worries then.

[Paul]

Originally Posted by oldopelguy Oh well, since I started driving with $.78 a gallon gas and $3.25 an hour paychecks, now that gas is $4 a gal all I need to do is keep making over $16 an hour and it's a wash, right? No worries then.

When I bought my 75 Manta (same one I drive today) gas was in the $0.45 to 0.55 range and I was making $1.40 an hour at a movie theatre..... Back then the minimum wage was split between $1.40 per hour if the payroll had less than "X" man-hours per month and $1.80 per hour if the total man-hours exceeded the threshold.... Sometime later, with in the the 2 years I worked there, the minimum wage structure was revamped and was elevated to $2.20 per hour.... Imagine making your car payment at $1.40 per hour

[DESTEC]

I get 28 miles per five dollar bill.