In Manhattan. We're paying over $3.50 a gallon in MD. Up about a buck from this time last year. 8 Years of cheap gas and the Iran BS is allowing petro companies to screw with us. Just complaining. Better part is talking heads saying this and our mortgage rates going up is normal. Yeah, right. It's be normal if middle class americans got paid enough to keep up.
$6.43/gal here, 19th most expensive gas in the world at the national level. At least we're out of the top 10 right now.
And it may go higher since one of the big 2 political parties proposed replacing annual road tax with a tax on fuel, although this would likely benefit me overall.
In reply to markwemple :
Higher gas prices are coming. Point well taken about middle class being kicked further down the chain economically.
Worst part is the Iran thing is BS (like the Iran thing from the early 2000s) and the petro companies are using it to jack prices even though there is an excess in oil production now. With how gas/diesel prices directly and heavily affect our economy, there should be a check on them. We are much more dependent on them in comparison to Europe, for example.
In reply to markwemple :
$1.55/liter here. You are paying 92 cents/liter.
Not feeling your pain.
Pete
The laws of supply and demand reflected in the price of petroleum only applies when there is a shortage.
For a long time, the Saudis kept the price low trying to screw the Iranians.
The national average is about $2.90 right now. Besides anything that may be going on with the Saudis, it is the week before Memorial Day and prices always go up then.
I got gas a week ago. I guess in a few weeks I'll fill up again and stress about the extra $1.00.
I have to fill up at least once a week. WIsh I could say once a month
Just paid about $3.80 a gallon for 92 at a station down the street. I know the dropping-almost-all-the-cars thing Ford's doing leaves some "SUVs" that are a whole lot smaller and more economical than an Excursion, but still wonder to what extent it's similar to the last time most of the chips were on SUVs when gas broke $4/gallon...
I'm about to go fill up both tanks for the first time on the new-to-me 460-powered F-250. I will cringe like heck and be glad that I don't *need* to drive it unless it's carrying something.
As a random data point, one round trip between the old house and the new house across town looks to be about $4.50 in the truck at 9mpg (estimating $3.50/gal for regular). $1.57 in the Mini (at 28mpg).
I picked a great year to set up my car to run on premium only.
I'm holding on to a running 3-cyl. 5-speed Chevy Metro that I'm hoping to trade straight up for a Suburban or Tahoe once gas prices climb again. I figure someone with a long commute that is killing their wallet will be happy to trade. I just want a V8 tow pig to play with.
$2.68 for regular just down the road from where I work. Where do some of you live? Geesh.
Have you checked out rent prices in Manhattan?
Oil trading is an interesting business. Most of the companies I know have their oil sold at least 12 months before they produce it. They're basically under contract to produce X amount of oil for $Y next year. Now they need to go drill wells to make sure that happens. What you see as quoted prices are the prices for spot oil, the "extra" oil that isn't under contract for some reason. Excess production, speculators, imports, all kinds of stuff.
You also have the fact that we're exporting a LOT of finished product. Chart Here. That exporting can also have a significant effect on finished products like gas and diesel that doesn't seem to jive with prices for crude.
One interesting thing is that people in the industry have pretty much stopped talking about peak oil. We'll eventually have peak production, but that is likely to be driven by economic trends like alternative energy and associated energy storage technologies than the physical global supply.
We're importing less and producing more than we have in a while, and there is a LOT of oil in the US that's known that is uneconomic at these prices. We can easily produce more than we are.
slefain said:I'm holding on to a running 3-cyl. 5-speed Chevy Metro that I'm hoping to trade straight up for a Suburban or Tahoe once gas prices climb again. I figure someone with a long commute that is killing their wallet will be happy to trade. I just want a V8 tow pig to play with.
And you'll probably be able to pull it off. People are terribly shortsighted and reactionary. Last time gas got expensive Metro prices went stupid.
I'm split here. It hurts a little bit to the tune of 12 or 13 bucks every time I fill up.
OTOH it's now profitable to reopen both the tar fields and shale oil fields so we'll see a short term energy boom. Plus we're nearing the point where algae biofuel becomes profitable to research again.
What I really want to see is the mass adoption of electrics. When we near $100 barrel it'll good time for the Bolt and updated Leaf to be on sale and hopefully trip the mass adoption.
Heading over $4 soon here in CA. Lots of that is of course taxes, much of which was added recently, and more to come (none was voted on). It included very large increases in registration costs also. Supposedly to pay to fix the roads (you know, what the taxes that are already on the gas is for).
CA might have finally hit its limit, there is a repeal of the taxes that will be on the next ballot in Nov. They gathered a LOT of signatures. It will actually be a CA constitutional amendment that will require any increases like this to be voted on in the future.
Strangely enough, in CA, where they seem to be constantly talking about "helping" the "disadvantaged", these taxes have the MOST effect on those with the least money! You honestly think the lawyer with his twin turbo Merc gives a crap if it's $20 more to fill up his tank, or $200 more to register his $80,000 car!?!?
I am looking to buy a Land Cruiser or LX470 for a winter beater. Would also consider a Yukon Denali.
Some sweet $5/gallon premium would really help that along.
Buy all the $750 4 cylinder beaters. Wait for $5/gal. gas. Double the price and profit. Same thing I saw the last time gas hit $5.
Seriously.
And Ford is moving towards SUVs. Sweeeeeeet.
Appleseed said:Buy all the $750 4 cylinder beaters. Wait for $5/gal. gas. Double the price and profit. Same thing I saw the last time gas hit $5.
Seriously.
From last time, I remember that the CRX HF and 1st-gen Insight were particularly valuable.
To the OP, Local gouging is nothing new, and happens quite a bit closer to your home. A couple years ago, when the rest of the DC metro area was at $3.50/gal, the Exxon by the Watergate was $5.58/gal.
we in America have ALL the Oil we can use under our Feet, they just want to keep it, until the other countries need Ours, We will be Using alternative Fuels before we Could run out.
Hmm..Maybe I should buy a vehicle that gets over 20mpg...
Oh, wait, they're paid for and I have a 7 mile commute. Nevermind.
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