Ga$ Price How high will they go?

[benncojr]

I am one of the lucky ones...I filled up this morning when gas was $2.47/gal. Driving home after work it was between $2.89 and $3.05/gal . That is a 25% increase in 8hr.

Boy would I love that type of increase in my salary in one day!! I would then be could get my Opel to be like I want!!

Baz, and you other folks not on this side of the pond are saying "Welcome to our world!!!". However, I think some of the biggest Oil Companies are actual on your side of the pond (BP, Shell). The reason your gas prices are so high on your side of the pond are the taxes that are charged by your Goverments not the price to the companies.

I sorry for venting but this is unducking belevable!!

[baz]

with the taxes we are paying $7.46 for 95 ron gas(imperial gallon) at the moment, so you still have a way to go yet i think its about 76% tax here now on gas so thats only $1.79 without tax or $1.53 for a US gallon

[supertiga]

check out post in humor dept under gas.
just heard $4.00 by sunday

[guyopel]

Gas here in Duluth is 3.39 a gal. with long lines , but my family is dry &
safe . We have to remember our friends to the southwest of us

[Ooooner]

Here in Charlotte, NC, I filled up Tuesday morning at $2.47 a gallon. By lunch, it was at $2.59. Then by the evening, at the same station, it had risen to $2.79. This morning, it was at $2.99! Now, I hear that the pipeline that brings the gas into the Carolinas has been knocked out by the hurricane. I have already seen some gas stations running out of gas, with others closing at 7 PM. Long lines have begun to appear at some stations as well!
About the only good news is the pipeline is supposed to be running again by the weekend. :o

[GTJIM]

BP 98 "Super" petrol just went to $NZ1.55 a litre - but it is available and my High-compression Monza LOVES it. Drinks about an imperial gallon every 20 miles round town - but it is powerful and smooth. When petrol gets to the same price as beer I guess we can start worrying.

[RallyBob]

Originally Posted by GTJIM When petrol gets to the same price as beer I guess we can start worrying.

No worries mate, stay home and have a pint of beer instead...

[baz]

jim dont get me started on beer its $16.50 a gallon in my local pub and the black stuff is $35 a gallon

[spdkilz02]

3.09 here in Akron today, yesterday I paid 2.45

[GTJIM]

You need to emigrate! Six cans of the "Black Stuff" costs $NZ13.50 in the SuperMarket here. Not many Opels though and some greedy B****ted has them all!

[neuropel]

Careful discussing gas prices...it'll quickly escalate into a political discussion and we all know what happens when it goes there! The rest of the world welcomes America to the international fuel market. Regardless of politics, it is FACT that oil companies are making record profits at the moment, and that will continue (especially the ones that got no-bid contracts to pump Iraqi oil out of the ground). Good for them I guess!

Still, I notice that there doesn't seem to be an outpouring of help and sympathy from the rest of the world toward this disaster as in others. And it's likely that just as many people died here as in 9/11. Certainly the economic cost is going to easily surpass it. Additionally, you won't see those record profits go toward helping these poor folks in the form of record tax dollars...instead it's our tax-based FEMA, strapped for cash and resources, and taking DAYS to get food, water, and basic necessities in place.

[spdkilz02]

another thing that doesnt help, is the fact that most oil places in the south are closed because of the hurricane.

[namba209]

Out here in SoCal, the prices haven't gone up too much, less than $.25, at least today anyway. But there has been a run on gas. I noted there was no regular gas at the pumps on base, delivery difficulties they said. One thing that upsets me is, gas stations usually get gas once a week, so how do they justify raising the cost when they haven't gotten any in 4-5 days or less. There's a big move afoot to shove it to the gas companies by not buying gas tomorrow, the 1st of September. Don't know how it will come out, I've heard 4.6 billion dollars in revenue losses if it happens. Not bad for one days shopping. I said it earlier, the EPA has suspended all special blend requirements for the time being, OPEC has said it will increase production, and the Federal Strategic oil reserves will be opened to make up for the loss in crude from the gulf. I noted on the news a barrel of crude was down $.67 a barrel at the stock exchange, so maybe someone is taking notice and the price of gas will stabilize and gouging won't be too rampant. Water, ice, blankets, tarps, MREs, generators and troops are on the way to the gulf region and the Pres said it's just the beginning. Big, major problem, no highways to the area, they were washed away, so stuff will get there, it's just a matter of how and when, but it is on the way.

[PROPEL]

http://www.sciencedaily.com/upi/?fee...prediction.xml

Actually, the above link provides a very plausible scenario. Despite what the media tells you, gas prices do not climb higher just because of "market concerns over oil futures," or "supply chain disruptions," or similar babble.

The simple truth is that oil is the world's economy. And oil is traded in dollars (nations that want to deal in Euros beware!). If oil was not traded in dollars, the worthlessness of the U.S. paper money system (fiat) would be apparent to all. Americans offload their enormous federal debt to other countries to keep this illusion going. If we didn't, the resulting tax burden and inflation would cause people to march on Washington.

The price of gas HAS to go up. It's another form of taxation brought on by the Federal Reserve and the world financiers.

Also note that the U.S. hasn't built a new oil refinery in like over 30 years. In fact, we've lost HALF due to plant closings over the years. Does that make sense? It does if you need to increase demand.

For a better understanding, read this book online.

[Thom71GT]

Paid 2.89 last night in Cumming with no wait at the pump.

Black stuff comes in pint 4 packs here. $6

[jlthunder]

Originally Posted by PROPEL Also note that the U.S. hasn't built a new oil refinery in like over 30 years. In fact, we've lost HALF due to plant closings over the years. Does that make sense? It does if you need to increase demand.

"They" say that refinery capacity is the weakest link. The storm just caused the chain to break. Poor planning on the refinery's part, but the consumers lose.

[PROPEL]

Originally Posted by jlthunder "They" say that refinery capacity is the weakest link. The storm just caused the chain to break. Poor planning on the refinery's part, but the consumers lose.

Yes, that's what "they" say. But we'd lose our jobs for that kind of poor planning.

[Sven]

Your gas prices sound like a dream...

i just converted our litres to your gallons and eur to usd.

a gallon of gas (98 octane unleaded) where i live would cost you 5.4 USD
now consider a much lower living standard (avrage monthly paycheck - 650$)

[Opelmel]

Good news here in Wisconsin. Although gas prices have shot through the roof, beer prices appear to be stable so far!
Since you're not supposed to drink AND drive, I guess I'll be staying home and saving the gas supply for others.

[spdkilz02]

that does sound like a plan, ill take ur advice tonight

[benncojr]

Originally Posted by Sven Your gas prices sound like a dream... i just converted our litres to your gallons and eur to usd. a gallon of gas (98 octane unleaded) where i live would cost you 5.4 USD now consider a much lower living standard (avrage monthly paycheck - 650$)

Sven,
You are correct but if you take out the taxes your country charges on gas it would be less than what the US is paying for gas (if your contry taxes gas like the UK and other Euro countries). Acording to Baz it is 76% of the cost of gas.

[jlthunder]

Originally Posted by Opelmel Good news here in Wisconsin. Although gas prices have shot through the roof, beer prices appear to be stable so far! Since you're not supposed to drink AND drive, I guess I'll be staying home and saving the gas supply for others.

Gotta love the sense of humor on this site. With that logic, instead of getting gas, you can get gassed

I'm sure we will see an increase in many consumables since they are delivered by truck.

[Sven]

Originally Posted by benncojr Sven, You are correct but if you take out the taxes your country charges on gas it would be less than what the US is paying for gas (if your contry taxes gas like the UK and other Euro countries). Acording to Baz it is 76% of the cost of gas.

12% road tax and 22% VAT. Goverment promissed a decrease in tax when gas reaches a certain price, gas has reached that price except one type of fuel which is kept right on the limit just so they wouldn't have to do anything.

when prices go even higher, they go yet even higher because they have to make up in price in order for that one fuel to not exceed its price limit when a tax reduction should otherwise take place.
Polititians have stopped even making an effort to give the slightest illusion of being fair.

Gas stations are being robbed for gas more and more every day, and its not even their fault. If it gets any worse than this, the world could soon become something a young Mel Gibson had played in.

[Scorchr69]

Here's a couple of interesting things.. It costs opec $4 per barrel to produce crude... Sells for 65 +, the cost has not gone up to produce it.

The problem with the prices is the simple fact that almost all the gas for the entire eastern 1/3 of the US goes through New Orleans and surrounding areas.
That would be oil from overseas, from the Gulf, and local wells. SoCal has incoming, north Texas and Ok. has significant production of gas products.

The part that has all the "people in the know" scared is that the refineries we need were in the areas destroyed by the hurricane. What really scares them is if we have an early winter in the north! No gas, no oil, no natural gas, no diesel, no other petrol products. The Texas/SoCal route is not strong enough for the entire country. What kind of effect do you think extremely limited production will have when the industry hits the really major usage time.

Gas for our cars to me is not as important as being able to stay warm on those winter nights!

[redcali]

here in aus we have the gst, so beer prices rise every 6 months.

anyway, as petrol prices rise, food transport costs rise, and so the price of food is going up also.
we are taking it in more then one hole!