Ga$ Price How high will they go?

[PROPEL]

Goldman's Murti Says Oil `Likely' to Reach $150-$200

And an analysis.

[jlthunder]

Originally Posted by jlthunder If Oil has dropped $6 /barrel over the past few days. Down to a cheap 113.00/barrel. Probably just a blip in the long run though.

Yup, just a blip. In 4 days(including a weekend) it has gone up another 9 dollars/bbl. It is out of control.

why can't my salary do this?

[tomking]

Well oil is priced around the world in dollars. And dollars are getting less and less valuable around the world due to our voracious appetitie for spending money that we dont have. Spending due to the war on poverty, due to trying to provide health care to all, due to the war against terrorism, due to pork barrell spending by polictians trying to buy votes, due to the "tax rebate" to stimulate the economy by borrowing from future generations, etc. etc. and on and on

[West Coast GT]

Again, I am so glad my hobby car is a sports car that gets good mileage.

I would be depressed if it were a muscle car with a chromed big-block crate engine and duel 650 cfm Dominators pouring buckets of gas down the intake.

One can almost hear the GT sipping fuel like an old lady nursing her champagne at Sunday brunch after church.
_______________

One of these days the moderators are going to change this thread's title to:

"It Was a Dark and Stormy Night"

[ungermm]

Originally Posted by West Coast GT One can almost hear the GT sipping fuel like an old lady nursing her champagne at Sunday brunch after church.

Ya, I can visualize that pretty easily. I guess the opposite would be the big ol' beer guzzling guy with his head under the keg at the Saturday BBQ after his release from prison. Hmmm...I've heard that opposites attract.
Jerry

[West Coast GT]

Just heard a teaser for the news about gas prices going to $8 in near future.

[yellaopelgt]

Local news here reports that there is a shortage of the number "4".........that's in the the numbers they hang up in the gas station signs!!!!!! So I guess $4.00 a gallon will be in the near future.......good thing I bought that Celica, I'm getting 35mpg!!!!Unfortunately, the Opel wont be getting anything near that. Good thing it will be for Sunday driving only!!!
Joe

[RallyBob]

Originally Posted by yellaopelgt Local news here reports that there is a shortage of the number "4".........that's in the the numbers they hang up in the gas station signs!!!!!! So I guess $4.00 a gallon will be in the near future.......good thing I bought that Celica, I'm getting 35mpg!!!!Unfortunately, the Opel wont be getting anything near that. Good thing it will be for Sunday driving only!!! Joe

Sooner than later. Locally, I'm seeing $3.89, $3.99, $4.09 for 87, 89, 93 octane. I'm sure it will be $4 per gallon for the 'cheap stuff' soon enough.

[66kadett]

I flirted with the idea of becoming an owner-operator a few years ago when diesel was US$2/US Gal. Now diesel is hovering at about US$.50/US Gal more than Gasoline in any given market:. Unless I can find a place to hide a cast-off water heater in my condo, and get a hook-up on lye and used fryer oil for making my own biodiesel, it looks like I'm keeping my happy butt behind the wheel of a company rig.

Re governments and oil companies, the rest of the world is now coming closer to the commercial driver's awareness of the grotesque inadequacies of both. The sad truth of matters is that the more obstacles placed between consumer and producer from all sources...of all goods and services...the greater the sacrifice made at both extremes.

What a fustercluck.

[RallyBob]

Little update. Last night, gas was:

87 octane - $3.89
89 octane - $4.09
93 octane - $4.19

Strange how they raised the higher octanes, but kept the low octane fuel the same? Guess they know most new cars 'need' higher octane, and price it accordingly. What a sham...

[GTJIM]

You think it is bad now - just wait till the Oil Companys 'buy' into the Carbon Credit scheme where they have to pay for each bit of pollution created by their product ... and pass the cost of this ficticious non-sense on to the consumer. Figure 10% to 30% additional cost for each drop of oil.

We had the housing bubble - the oil bubble is here now and the next BIG thing will be the Carbon Credit bubble. More speculators and derivative shufflers sucking the money out of the publics pocket.

What we must do is ensure that the technical ability and will remain to build Guillotines!

[jeff denton]

Then comes the news this morning that some kind of "accident" has just reduced the Alaskan oil production, so expect an immediate rise in prices. It's one thing after another.

[2 Fast 4 U]

Don't be so pissed about your gas prices in the US, take a look at this and take a look at place #4

[Mike Trout]

our diesel just hit $4.99and gas is at $3.89 im expecting $5 a gallon by labor day

[Sparky73]

Honestly, how high could they really make the prices? There has to be a cut off where the majority of people can't afford to drive.

I hate to do it, but I'm gunna have to sell my truck sometime soon. I need to save up a little cash first for my next vehicle since I have a loan on the truck.. but I honestly will put $15-20 of gas in everyday. I average 12-14 mpg, and thats with NO lead foot . I have no idea what I would even want to buy after that..

[neuropel]

Originally Posted by 2 Fast 4 U Don't be so pissed about your gas prices in the US, take a look at this and take a look at place #4

True, but there are a lot of factors that need to be considered.
Personally I don't think Americans would have that big of an issue with gas prices if they were justified and/or if they had gone up gradually over time. As it is now, the prices are skyrocketing and many citizens have no chance to adjust (especially with the war on the middle class here). With the value of the $ diminishing in world markets and Oil companies posting record profits, many have reason to be pissed. Fuel is delivered by trucks driven on roads and bridges built by tax payer money. How much are the oil companies investing back into our infrastructure? Fuel we're burning now is coming out of the same wells, pumped along the same pipes, coming out of the same refineries, and delivered by the same trucks that were used several years ago. Someone is making more dollars. Billions more dollars in fact.

In a lot of ways, it's Americans' own fault I suppose. We over spend, over eat, over indulge in nearly every facet of life. We run up credit cards and loans to our limit, then declare bankruptcy and start over. We've now sold a good portion of our country to foreign entities because of our irresponsible ways, and now our dollars are not looking as great in the eyes of our foreign investors.

On another front - how many miles do you drive per day?

The USA is 3,794,066 square miles, compared to 16,033 square miles for the Netherlands. Americans do a LOT of driving because this is a BIG country. It takes a LOT of fuel to go from shore to shore delivering goods.

The one great thing we still have is innovative people and great thinkers. We still maintain great R&D in the US, and I suspect we will begin to wean ourselves off foreign oil. I don't know that it'll be a single great technological breakthrough, but who knows. The scary thing is that if it does come about, chances are good the institution out of which it arises will have headquarters on foreign shores. One thing for sure though, is that until we have leaders willing to face these issues and focus on the well-being of the country as a whole rather than lining their associates pockets with record profits made from the blood, sweat, and tears of average citizens, there's no need to think things are going to get much better. Statistically, for the first time in our history, we're earning less on average than our fathers, and the cost of living is more. We cannot sustain that trend for very long. Our houses are worth less, our food costs more, our fuel costs more, and our dollar buys less - and it has all happened in a VERY short amount of time. That's why people are pissed!

TK

[RallyBob]

Neuropel for president!

[jeff denton]

Originally Posted by Sparky73 I have no idea what I would even want to buy after that..

I do. A few months ago I put my name on the list at the website that is pressuring GM to step it up a notch, and get the Chevy Volt into production. Apparently GM will do it if they get enough interest and have names on the list.
I'll take one. Right now.
Of course it won't replace the pickkup truck. We have big loads to haul in the trailers. I don't know what kind of technology can replace the 3/4 ton pickup. I have to admit, my pickup does more trivial running around than heavy hauling. It should be reserved for hauling only.
I'm also researching the electric cars. There are so many conversions out there. A very popular base vehicle is the S10 pickup. I just happen to have a very cherry 1983 with under 40,000 miles on it. It doesn't need the V8 anymore. Those days are over.
I've already got a bumper sticker in mind for it. Something like "How many more dinosaurs must die?"

[Tru-Craft]

Yep, gas is expensive.
About $3.80 here.
I say it's all a political, get rich plan.
Why won't anyone invest in other sources of energy:
coal to oil, corn to alcohol, Electric........
Because it's too expensive, or it won't produce as much power or go as far as a single gallon of gas.
Here is my point.
Let's say gas goes to $10/gallon, and coal to oil gas cost $6/gallon.
Happy day for those who bought stock in coal to oil.
Until the Arab's drop the oil prices to $50 a barrel, and gas goes for a $1 a gallon for a year!
Now what is your stock worth?
We are at the mercy of the gas/oil companies for now.
My GSXR-750 gets 38mpg, hard to pull my trailer though!

Lyle

[benncojr]

Well,
I just saw gas @ 3.75/gal at a discount gas (QuickTrip) and heard it is $3.79/gal nationaly. I bought gas last night for 3.66/gal.

I have made changes in my life style. I now ride the bus to/from work. I did that the moment gas went to 3.00/gal (only 2 months ago).

As far as to why has the gas price has gone up... I think you need to look at a lot of factors.

1. Gas prices during the last 20 years have remain semi flat. If you adjust for inflation the price of gas should be between $3.50 to $4.00/gal. This price increase is an adjustment.

2. Oil is being used as a hedge for the changes is other markets (ie Real Estate, US $). The folks that had investments in Real Estate have invested their $ in Oil so it will retain the same buying power it had on the world market.

3. The demain for Oil is up. China, India are purchasing more oil for their market than they did 20 years ago.

4. The refining capablity has remain flat in the U.S. for more than 30 years. The U.S. has not built a new refinery in more than 30 years, however the U.S has increase its need for fuel over that time.

5. The refinaries have to make special batches of gas for different markets (the gas you purchase in Atlanta Ga, has a different mixture of additives than the gas you purchase in Columbus Ohio.) Because of this the refinaries have to change over their process to make the stuff (i.e. like when you go to Home Depot and ask for a special set of cabnets they cost more).

6. The domistic area's in the U.S. that could be used to open up more supply to the market have been taken off the table because of eviromental issues.

Bottom line is you can not point your finger on one issue or one event or one person as to the reason for the price has gone up so fast. Along the same though process it is not going to be one event or one issue or one person that will bring the cost down to a reasonable level, it will take many factors to get that to happen (if ever).

Ok I will get of the box and let someone else rant for a while.

P.S. have fun with the spelling

[neuropel]

It's fun though, ain't it?
I suspect we'll be hearing a lot more during this election cycle.