gas is up to 313 down here in CHEAP Alabama

[RedValk]

makes me wonder what the heck it might go up to this summer...when the prices rise? I keep hearing 4.00 gas....and EARLIER...i thought that would be BS. but now...............i don't know..........


4.00 gas might put a crimp in SOME of my summer plans.................to be sure!

[old2soon]

Here in the ozarks we just eased up over three bucks a gallon here. Something with the unrest in libya they tell me. You do notice that when they increase costs to US their profits seem to increase SEEM TO GO UP A LOT. Course could be just me on the profit thing.

[MNBill]

3.25 in SE MN. Looking at buying a used 5th wheel, maybe I will wait and see where this ends

[G-Man]

Cheapest gas in White Plains, NY is $3.47 for regular.  I buy gas near work in Danbury, CT for $3.39 to save the 8 cents!  

Funny, last time I was in the market for a new car, the same thing was going on.  Gas was over $3.50 a gallon and I was verrrrry interested in the Dodge Charger.  I let myself get talked out of it and wound up with the Merc Montego.  About 3 months after the purchase, gas hit $4 and I was OK with my decision, but then gas went down over $1/gallon and I was kicking myself.  I couldn't see going with the 6 cylinder Charger because I new I would feel like I was driving the little sister instead of the mac daddy (I got issues   ).  Now I'm interested in the new pony cars.  I'm digging the Charger and the Camaro, but same crap is happening again.  The Merc is paid off in June and gas is moving up in price and I don't want to drive around in the little sister, even though the little sister does get 305 hp.

[RainMaker]

In Pearland, TX, price went from $2.85 to $3.09 from Monday night to Tuesday night.

[RedValk]

In Pearland, TX, price went from $2.85 to $3.09 from Monday night to Tuesday night.

yea, i needed gas....yesterday morning...but I was in a hurry to get to work...so figured i would wait till lunch. so, i waited 4 hours. it went from 298 to 313. Guess i should not have waited..........

[Spirited-6]

Gas is running about $3.10 in Central Ky. as of today. We have had a .21 cents jump in 24 hrs. 

[Strider]

You may as well get ready for higher gas prices. I damn sure don't want to start a political debate here - enough of those already, but just a statement of fact.  The BP Horizon disaster (tragedy) and the ban on deep water exploration drilling caused a shortage in domestic crude (a lot of natural gas drilling onshore but the deepwater crude was stopped for a time with very slow recovery once the permits began again - drilling is still nowhere what it was prior to the BP tragedy).  Hotglue correctly stated that it would not be an immediate ding to gas prices since the cost doesn't hit the consumer until after the refinery - I think you are just starting to see it now.

Now there is the unrest in the middle east.  Egypt will not affect the price of oil as much as some of the other places.  Production is not great in Egypt and even if the Suez Canal would be shut down, it would not affect the price of oil greatly - a few cents due to increased transport costs.  The conflicts that WILL affect oil prices greatly is the one in Libya.  2% of the world crude comes from Libya and it has the largest expected undiscovered reserves in Africa (estimated at 44 billion barrels).  Because of this unrest in Libya, oil prices have already risen to almost $100 a barrel - a 12% increase in oil prices this week alone - so far.  Sorry folks, but you can expect to feel this rise in spot prices by the summer at the pumps - there is no way around it, that is what the refinery is paying for the oil - an increase of 12%.

The real disaster would be if there is civil unrest in Kuwait and Iran as well. I was listening to an analyst last night on the Charlie Rose show and he stated that if the unrest follows in the big 3 (Kuwait, Iraq - as it goes into civilian rule - and Iran) for production and production is reduced by 20% in these countries, we could see $170 a barrel for oil.  If this happens you are looking at another global recession that could be decades to recover from.  He said that just Kuwait and Iran could cause oil prices to rise to almost $170/barrel depending upon oil reduction.  It was commented that it could totally destroy countries such as a Mozambique that has to pay for transport of food and supplies but would not be able to afford transportation costs - economies of countries like these could not handle the stress and would crumble.

This has nothing to do with political parties or global warming, it just supply and demand of a limited natural resource.  So, I would say (and this is just me) that you can expect to see at least a 12% increase in gas prices at the pump over the next few months.  If you are paying $3.40 now, I bet you will be paying $3.80 by the start of summer.  If civil unrest does hit Kuwait and Iran and production is reduced by 20%, within months, you can see prices that will equal Europe now at the American pumps of between $5 and $6 a gallon for gas - along with the increase of goods due to transportation costs.

I hate to burst anyone's bubble, but that is what I am planning for - over $3.50 a gallon by the start of summer.  Glad I have a motorcycle as my primary mode of transportation.  

Some analyst are already predicting gas prices at the pump to be in the mid $4 by the middle of summer.

[RedValk]

You may as well get ready for higher gas prices. I damn sure don't want to start a political debate here - enough of those already, but just a statement of fact.  The BP Horizon disaster (tragedy) and the ban on deep water exploration drilling caused a shortage in domestic crude (a lot of natural gas drilling onshore but the deepwater crude was stopped for a time with very slow recovery once the permits began again - drilling is still nowhere what it was prior to the BP tragedy).  Hotglue correctly stated that it would not be an immediate ding to gas prices since the cost doesn't hit the consumer until after the refinery - I think you are just starting to see it now.

Now there is the unrest in the middle east.  Egypt will not affect the price of oil as much as some of the other places.  Production is not great in Egypt and even if the Suez Canal would be shut down, it would not affect the price of oil greatly - a few cents due to increased transport costs.  The conflicts that WILL affect oil prices greatly is the one in Libya.  2% of the world crude comes from Libya and it has the largest expected undiscovered reserves in Africa (estimated at 44 billion barrels).  Because of this unret in Libya, oil prices have already risen to almost $100 a barrel - a 12% increase in oil prices this week alone - so far.  Sorry folks, but you can expect to feel this rise in spot prices by the summer at the pumps - there is no way around it, that is what the refinery is paying for the oil - an increase of 12%.

The real disaster would be if there is civil unrest in Kuwait and Iran as well. I was listening to an analyst last night on the Charlie Rose show and he stated that if the unrest follows in the big 3 (Kuwait, Iraq - as it goes into civilian rule - and Iran) for production and production is reduced by 20% in these countries, we could see $170 a barrel for oil.  If this happens you are looking at another global recession that could be decades to recover from.  He said that just Kuwait and Iran could cause oil prices to rise to almost $170/barrel depending upon oil reduction.  It was commented that it could totally destroy countries such as a Mozambique that has to pay for transport of food and supplies but would not be able to afford transportation costs - economies of countries like these could not handle the stress and would crumble.

This has nothing to do with political parties or global warming, it just supply and demand of a limited natural resource.  So, I would say (and this is just me) that you can expect to see at least a 12% increase in gas prices at the pump over the next few months.  If you are paying $3.40 now, I bet you will be paying $3.80 by the start of summer.  If civil unrest does hit Kuwait and Iran and production is reduced by 20%, within months, you can see prices that will equal Europe now at the American pumps of between $5 and $6 a gallon for gas - along with the increase of goods due to transportation costs.

I hate to burst anyone's bubble, but that is what I am planning for - over $3.50 a gallon by the start of summer.  Glad I have a motorcycle as my primary mode of transportation.  

very well put Strider! I was just talking to Sherry last night. I told her that what's going on in the Middle East is HIGLY interesting...but...VERY scary! While I think it would be great...on the one side...if all those places with oppressive governments were able to remove the "dictator-like" regimes that are in place..and get true democracy (of course, it remains to be seen if that will even occur?). BUT...the instability that will result from MULTIPLE countries going thru this "process"...could easily bring chaos not only to that part of the world....but to most of the entire globe! How sad that people gaining their freedom...could...in fact, help cause mass instability accross the entire globe! It's truly possibly one of the top stories of this decade...if not this century?

[old2soon]

STRIDER I would hope and pray that you are wrong-but deep down inside i know that you are right on the mark. If all this b/s transpires-92% of my ridin plans will see a drastic and severe curtailment-read not go near as fer as i was ahopin. Sumptin tellin me my brother and me ain't goin up and around lake superior this summer. Mama changed jobs just before winter set in-cut her commute from 22 miles one way to 1 mile one way. The slight pay cut for her don't look quite so bad now.

[Hef]

Gas is 3.29 in Southern Illinois. I heard the president of one of the major companies predicted gas would be 5.00/gal by July 4. Hope it's just a rumor but it wouldn't really surprise me if they did increase it to 5.00. I see it as legal??? robbery.

[G-Man]

Drill Baby Drill!  

Sara Palin brought a crew up to parts of Alaska a while back (before her Alaska show) and in many areas, the cameras did a complete 360 degree view.  Each time, it was noted, that as far as the cameras could see, there was nothing!  No wildlife, barely any vegitation,....mostly baron land.  Sara asked, what are we saving this for?  There is nothing here, nothing to be harmed.

Our government, past and present, is all about lining the pockets of those who wish us harm.  They wish us harm and we continue to make them rich.  They wish us harm and continue to take more and more of our wealth.  

Drill Baby Drill.  Drill here in the US. Stop the transfer of wealth.  Let all of those oppressive, ass-backwards countries and their dictators shrivel up and sink into the sand.

[G-Man]

Adendum:

Even Suadi Arabia....our great ally.  Anyone remember that 16 of the 19 A$$HOLES on 9/11 were Saudi?

[R J]

I was a snoopin around on the net and found an article some analyst had written on gas price futures.

Can't stick my finger on it now as it is no longer in my display history.

Any who, his prediction was gas would be at $5.00 a gallon by the end of June, if not before.      Guess my Hemi will set for awhile.      Have to take up driving mom's Toyota for all our running.

I remember when gas was hard to get in the 70's, & expensive for the time frame.  We were in Nebraska coming to Iowa on Vacation.    No problem getting gas till there and then they wanted to limit me to 5 gallon.  Think it is called Middle America or something along that line. Took the 5 gallon, drove out, and around the block and back in for another 5 gallon.    It wasn't till I paid for the 2nd purchase that he recognized me and just hooted and hollered.    Telling me I had to drain out the 2nd 5 gallon.      Asked him if he could identify it, he looked at me kind of funny and said "No."    Told him I couldn't either, so I left, him still a rantin and a ravin.

I'll never forget the look on his face at the end.   Was Kodak time, but it was buried somewhere behind the seat.    LOL.

That little Ranchero did not give too good of gas mileage.   It had that big 428 shaker in it.   Lots of go and quick at it, but when ya did, you could hear the gas guzzling through that gas line.   It was kind of like the Valkyrie, but with 4 wheels.   Twist the wick at any speed below 60 and it would light up the rear tires.  Yeah, both of em, it had a posi under it.

Wish I had that car today.

Oh memories, that is about all i got left in these old bones.    

[Titan]

Cheapest gas in White Plains, NY is $3.47 for regular.  I buy gas near work in Danbury, CT for $3.39 to save the 8 cents!  

Funny, last time I was in the market for a new car, the same thing was going on.  Gas was over $3.50 a gallon and I was verrrrry interested in the Dodge Charger.  I let myself get talked out of it and wound up with the Merc Montego.  About 3 months after the purchase, gas hit $4 and I was OK with my decision, but then gas went down over $1/gallon and I was kicking myself.  I couldn't see going with the 6 cylinder Charger because I new I would feel like I was driving the little sister instead of the mac daddy (I got issues   ).  Now I'm interested in the new pony cars.  I'm digging the Charger and the Camaro, but same crap is happening again.  The Merc is paid off in June and gas is moving up in price and I don't want to drive around in the little sister, even though the little sister does get 305 hp.

Wow G-Man. Your situation sounds like what we just went through. Of course I expect a lot of others have the same dilemma. My wife wanted a new Camaro or Challenger. Maybe a Charger. She didn't need either cause she drives like a slow-poke. But that's what she wanted cause they are so awesome looking. I just couldn't see getting a 6 cylinder because I would be driving it sometime and my ego couldn't deal with not having all the ponies to go with the look.

So we bought her a 2011 Honda CR-V with a littly bitty 4 cylinder. She loves it. But she still ooohs and ahhhs every time she sees one of those kick-a$$ go-fast cars.

But I think you should go ahead and get one of your first choice and then tell all of us how great it is! It's only money!

[Strider]

The sad truth is that we can not meet our demands domestically.  It will help us lower our dependence on foreign oil to find more reserves domestically, but we will still be dependent to some extent.  Most of the LARGE reserves have been found now such as the deepwater Crazy Horse reservoir in the Gulf of Mexico. Oil is a LIMITED natural resource and the natural events that must take place (such as a natural trap to keep it from just migrating to surface) are phenomenal.  You just don't drill a hole in the ground and hit a reservoir. It is just simple math.  Our consumption of oil as of 2007 was 20,680,000 barrels per day of oil - far higher than any other country and over double of the second highest consumer of oil - China at 7 million barrels.  America only has 21 billion barrels in proven reserves and 4.4 million barrels in the strategic reserves. From 1970 to 2007, our import of foreign oil has increased 400% due to a decline in domestic production. US production peaked in 1970 at 9.6 million barrels per day - remember we use over 20 million.  Since 1970, domestic production has fallen 46% with tragedies such as the BP Horizon and the resulting ban on deepwater drilling only making the decrease higher - drilling was reduced by 37% domestically in 2010.  The Department of the Interior estimates that there may be another 139 billion barrels of reserves available for possible production in the US but production even in the rich Prudhoe Bay in Alaska has declined over 40%.

Our largest imports of oil actually come from Canada and Mexico but our foreign import of oil is still 58.2% and accounts for nearly half of our US Trade Deficit. So, considering our domestic supply and demand, there is no way we can, at present, not be dependent on foreign oil.  Canada and Mexico are going to be selling us the oil at market price (up or down) no matter what the price of Texas Sweet is.

As to oil company robbery, the oil companies do not set the price of oil but make their profit off the set price.  Such as gold and even pork bellies by companies that sell gold or make bacon.  So if they make 10% (let's say) off a barrel of oil, yes the profit to the company is going to be greater the higher the set oil price goes and especially if the refining cost does not go up at the same percentage as the price of the raw crude.  They also have a fixed cost to bring the oil in domestically so the profits are increased with higher market value, but again, they are paying or selling what the set market price for that original barrel of oil is to start with.

Again, I don't mean to get a big debate going concerning big business or anything, but just a humble opinion that we can not meet our domestic demand on oil, we must rely on foreign oil, global events are driving up foreign oil prices and we are going to be paying more at the pump - just the way it is going to be - in my humble opinion.

[..]

Drill Baby Drill!  


Drill Baby Drill.  Drill here in the US. Stop the transfer of wealth.  Let all of those oppressive, ass-backwards countries and their dictators shrivel up and sink into the sand.

If we drill, baby, drill here who would own the production? Surely the companies who produce it? That production would be put on the open market as any other is.

How would that benefit us?

OPEC would simply reduce capacity.

Surely you're not suggesting a nationalized oil production???

[Big Rig]

BO better be watching this closely...i know if I have to fork out $4 + for a gallon of gas, other things will suffer as a result and we slip back into recession...

The prices rise on speculators....pay no attention (well not for gas prices anyway) to what happens in the middle east. It will case small spikes but the speculators are driving the bus off the cliff. Useage will drop and there will be excess fuel just as there was when it hit $4 last time.

You can slam me on this, but those with cash to play the market are currently making a killing in the market right now. The Big Oil companies are doubling and tripling their profits....

The middle east thing is getting old....

[R J]

I found the article I had read on $5.00 gas.

http://www.kcci.com/news/26965226/detail.html

[..]

http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption

http://www.nationmaster.com/graph/ene_oil_pro-energy-oil-production

[Kaiser]

How many of us will do anything other than complain when gas hits $4.00/gallon?  I know myself well enough to know that I probably won't change anything.  Will you start riding a bicycle?  Will you ride your Valk more?  Will you walk?  Will you car pool?  Will you sell your V-8 and buy a used 4-cylinder?

Chances are very few people will change their lifestyle as a result of increased gas prices.  If nothing changes, nothing changes.  What I mean by that is that until massive amounts of people change their lifestyles because they are fed up with paying too much (in their opinion) for gas, nothing will change. It'll keep going up, people will continue to complain without changing anything, it'll go up again, complain, up, complain, up, etc...

I definitely do not want to pay any more for gas.  But just trying to keep things in perspective - we're still a LOT better off than our European friends when it comes to the price of gas.

[G-Man]

Surely you're not suggesting a nationalized oil production???

Why not?  Why does something produced here have to be sold elsewhere?  There are plenty of manufacturing businesses that just do business here.  Yes, these are becoming less and less, but I see no reason why it can't be done.

Brother Strider has shed some good light on this.  I still say drill and reduce our dependance on the middle east.

I also agree that much of the rise in prices is due to the speculators.

[solo1]

This could end up just like crowded grocery stores when heavy snow is predicted.  Watch for increased buyers of hybrid vehicles and some politician(s)  will definitely push for more electric vehicles and more ethanol production with the 15% content in gasoline.  They might even try to ration gasoline.

When government gets involved (and it will) everything will go to h*** in a handbasket.

At any rate, thanks Warren for giving us the true scoop even though we don't like it.

wayne

[Hoosiervalk]

Northern Indiana $3.36 at every station since yesterday!

[ptgb]

Supply and demand? Yea, that's the convenient "whipping boy" that is put out there... and it probably has some effect... but the real culprit is something much more sinister.

It is just like the housing "crisis", the banking "crisis", and the other "crisis-es" that have plagued "us" over the last 4 or 5 years. This is nothing more than another example of the rich getting richer on the backs of the working man...

http://www.cbsnews.com/stories/2009/01/08/60minutes/main4707770.shtml

Price increases due to "unrest", "supply issues", China and India emerging as large energy consumers, name it...all pretty much excuses to inflate the value of this commodity artificially.

You know... I am really getting tired of being told it's raining when they are in fact pi**ing on my head.
 
... oh yeah.... gas went up .21 per gallon here in one day... I didn't know Libyan oil got to NE Ohio so quickly  ???

 

[Willow]

Supply and demand? Yea, that's the convenient "whipping boy" ...  "crisis", and the other "crisis-es" that have plagued "us" over the last 4 or 5 years. This is nothing more than another example of the rich getting richer on the backs of the working man... 

Just a casual observation, but according to my (rather dated) economics classes, when the price line doesn't match where the supply and demand lines cross, the consumer stops purchasing.  The notable exceptions are when a monopoly is involved, especially in regard to "must have" commodities.  There's a portion of fuel sales that fit the description, but a large chunk of my fuel purchases are optional.

The system has always been one of sellers making a profit through transactions with buyers.  I guess by definition, since there are more buyers (ie working men) than sellers (the rich?) isn't it always a case that the rich get richer "on the backs" of the working man.

Seems there's a familiar ring to that rant (and you're not alone) that harks back to about 1917 in a young eastern European democracy.   

I'm not happy about increases in the cost of fuel, but then I'd like it to be thirty-two cents per gallon again.  Of course, I don't want my working man income to be what it was then.   

Oh, who am I kidding?  I own three Valkyries.  I'm one of the rich.    
   

[Wizzard]

Drill Baby Drill!  

Sara Palin brought a crew up to parts of Alaska a while back (before her Alaska show) and in many areas, the cameras did a complete 360 degree view.  Each time, it was noted, that as far as the cameras could see, there was nothing!  No wildlife, barely any vegitation,....mostly baron land.  Sara asked, what are we saving this for?  There is nothing here, nothing to be harmed.

Our government, past and present, is all about lining the pockets of those who wish us harm.  They wish us harm and we continue to make them rich.  They wish us harm and continue to take more and more of our wealth.  

Drill Baby Drill.  Drill here in the US. Stop the transfer of wealth.  Let all of those oppressive, ass-backwards countries and their dictators shrivel up and sink into the sand.

AMEN,, they be drillin us

[Wizzard]

Anyone know if this has any validity?
It is not new news. However, by ignoring the facts, the middle east could shut our country down (kill it!) in a week if they don’t like our attitude on some issue. We could be economically dead and buried at the hands of islam because YOUR legislators do not want to protect our interests and the future survival of the United States.  We are entirely at the mercy of the middle east and venezuela’s dictator.  Not only would we not have gasoline, we would not have heating fuel for homes, transportation of food and other critical items such as water and to some extent electricity.  DISASTER!!!

OIL -- you better sit down.

Here's an interesting read, important and verifiable information:

About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. was the guest.  The host said to Forbes, "I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. have in the ground?" Forbes did not miss a beat, he said, "more than all the Middle East put together."  Please read below.

The U. S. Geological Service issued a report in April 2008 that only
scientists and oil men knew was coming, but man was it big. It was a
revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana.  Check THIS out:

[Bobbo]

Anyone know if this has any validity?

Well, here's what Snopes has to say about it:
http://www.snopes.com/politics/gasoline/bakken.asp

[PAVALKER]

http://gasbuddy.com/

Check and find your lowest area prices

[R J]

Went to the Dr for a 3:00 PM appaointment, gas $3.079, was in there less than an hour, went to fill up and it was $3.179.

Firk em, I'll wean the Toyota.

[bludragon]

With our dollar at par now you can really compare what we pay for gas in Quebec.  A whopping $4.78 per gallon so you should all feel better now. It varies but has not gone lower than $4.44 in the last month

[sheets]

This morning - 87 octane - $3.79
This afternoon -   "   "     - $3.89

Humboldt County, CA.

($3.39 for many-many months up until a few weeks ago... thought we had it good...)

Ymmv, 

[fudgie]

$3.45 in Roanoke Ind 

[PAVALKER]

$3.359 yesterday. 

[Bobbo]

I guess Missourians should feel lucky...  $3.19 for 87 regular in the St. Louis area.

[G-Man]

Cheapest gas in White Plains, NY is $3.47 for regular.  

That was Tuesday.  This morning $3.57!   

[RedValk]

yea...went up another 13 cents...to 3.26 in Bama. But sounds like we're cheaper than half the states .....

like i say, i'm just concerned how high it COULD go by summer. But there could be SOME silver linings in all this gas price explosion. For the first time in a couple of years, Sherry and I plan on doing a summer vacation where we actually RIDE our bikes. Oh my, what will our fellow Trailer Queen Society friends think of us? Will we be publicly flocked for riding our bikes somewhere for a vacation...instead of our usual trailering? Not to fear, for the Rune Rally in September....we'll go back to trailering...as we have to bring all the supplies for the rally. So all will be well in the world again come September  

But man, that 10 mpg the old truck and trailer gets sure will be felt in the old pocket book!