Whose Ready for $3.00 a Gallon Gas

[spbed]

With oil hitting a new hi yesterday for Sept delivery of $67.00 per BRL 3.00 per gallon gas + soaring energy prices will not be far behind. What will you be doing to absorb this considerable increase into your current budget? Just as a example in 10/03 gas was $1.50 per gallon. Now it is $2.50 per gallon so someone only using 20 gallons a week is out of pocket from there consumerable income $80.00 per month. Where I live the power company just applied for a 12% energy surtax to compensate them for the higher energy prices. [:(]

[CG9602]

http://money.cnn.com/pf/features/lists/global_gasprices/price.html


Think gas prices are high Stateside? Think again. I understand that many of us are unaccustomed to the prices, but in other countries they would be happy to have their fuel prices be that LOW.

[owlsroost]

If you think $2.50 per gallon is bad, we pay roughly 3 times as much in the UK.....

It's world demand that's driving up the prices, so the only long term answer is to use less - it's better for the environment too. Maybe it's time to ban the sale of gas-guzzling SUV's or force them to be fitted with more fuel-efficient diesel engines instead.

Tony

[Modelcar]

...This is getting to be a serious situation in this country...{USA}...and yes, we know around the world fuel costs have differed from ours for years for various reasons....But here.....to have prices rise {out of control}, seemingly almost overnight is just a bit suspicious. Of course it's going to take money from peoples budgets...for other things, and direct it increasingly to oil Co's. And many of us are noticing the oil Co's profit margin reporting recently has skyrocketed....Don't really know where all of this is headed but if it continues big changes will be forth coming...Can't tell just WHAT changes but Changes...! Maybe it's time to pull back many of our resourses we're expending on other parts of the world and start thinking how we can work our way around this that's happening that could effect us in critical ways....Actually, I think it's long overdue. As for $3.00 gasoline....If nothing upsets the price progress as it is now, it is just around the corner....

[DrummingTrainfan]

The railroads are probably going to be buying more Green Goats and pressuring the loco makers to make more hybrid locos.

[edbenton]

Consuiderring BP Amaco profits for last quater were 7.6 billion theoil men are laughing all the way to the back and they were just givin 6 billion in tax breaks but what do you expect since the Whtie HOuse has an OILMAN in office.

[Anonymous]

I agree......with oil hitting new highs per barrel almost every day, $3.00 gas is certainly almost around the corner. Worldwide demand, lack of refinery capacity here in the states, as well as the wild card factor ( hurricanes, political trouble in various oil producing nations etc), which are always lurking around the next corner, will all work to drive up energy costs. What is more troubling though, is the fact that the world's oil reserves are being used up at unprecedented rates and there is no long term energy plan for what happens when the oil is gone. I think I read somewhere that the world's oil reserves are gone in another generation or two. A blink of an eye basically....

[Anonymous]

I'm ready for it, because I don't have any choice. If I want to drive, I pay it. Griping about it won't do much good. Like Tony says, he pays a lot more in the UK.

mike

[cnw4001]

I don't think anyone is really interested in spending more money but there is really little other choice as long as the US has the automobile as the center of the transportation system.

Will that change? Probably not in our lifetime.

[eolafan]

Nothing has really changed in the past year when gas prices have gone (at least around here) from about $1.35/gallon this time last year to about $2.48/gallon nowadays and climbing (that's an 83% increase folks in one year). The American public is NOT driving 83% more, and cars are not suddenly getting 83% less gas mileage...SO WHAT'S THE PROBLEM

[eolafan]

Nothing has really changed in the past year when gas prices have gone (at least around here) from about $1.35/gallon this time last year to about $2.48/gallon nowadays and climbing (that's an 83% increase folks in one year). The American public is NOT driving 83% more, and cars are not suddenly getting 83% less gas mileage...SO WHAT'S THE PROBLEM? I'll tell you my opinion, which I will bet is shared by many others...THE OIL COMPANIES AND THEIR MIDDLE EASTERN CRONIES ARE GETTING MUCH, MUCH RICHER DUE TO OUR MISFORTUNE. Folks, we are getting robbed...LEGALLY...and we should not stand for it! Oh, by the way, Mr. Bush is one of those who is gaining from this. Remember, this family gained their fortunes in the oil business.

[Anonymous]

We pulled in our employment to our town. We can probably support 6 dollars a gallon before it gets too difficult to make a sufficient wage to pay all the required bills.

At this time the cost of gas is meaningless to me.

Now if we still had both cars commuting 130 miles daily round trip to work... that would be a different story. Both cars using about 10.4 gallons a gas a day to go to and from work for two people... that is $31.20 per day x 7 = $218 per week gasoline bill (about 850 a month.)

Minimum wage wont cut it. Neither will 9.00 an hour. Therefore.. my solution was remove the commute distance and place work much closer to home.

At this time we fill all three of our cars approx twice a month now instead of 2-3 times every 7 days.

The next option will be to move to a south east city that supports mass transit to and from work. I think that Household Movers probably are gearing up for what is going to be a bonanza in moving once people discover that they cannot afford the 60 mile one way commutes anymore.

We did talk about replacing two of our cars with Hybrids. We are currently gaining approx 25-30 miles to gallon with one car capable of 36 mpg. Regular mantiance ensures that these decade old cars (Paid for thank you!) get good mileage.

One hybrid model to us offers us near 55 mpg at times and the range for a fillup covers the 130 mile commute 5 days a week. We probably will purchase hybrids in the future to extend our range to cover the work week in one fill up. If gas prices continue to rise, we would rather use the funds to purchase new cars rather than literally burning it up to and from work.

As a former trucker, I have seen fuel prices that are nothing but draconian. It is easier to crack and distill desiel than it is to get to Gasoline and lighter compounds higher in the refinery tower. I suppose 7 miles to the gallon at 4.00 a gallon desiel is much more profitable than 30 miles to gallon 3.00 gas.

I am old enough to remember .18 gallon gas. We would dock our 34 foot long Chrysler New Yorker of the mid 60's fame (with a 14 foot long hood mind you) at the old mobil pump and trickle 24 gallons into it for less than 5 dollars at the time.

Back then Union Jobs paid 30/Hr, homes less than 20K and new cars about 5,000 for a "good one"

Those days are gone forever. What really concerns me is we are literally burning out the refineries running 24/7 at a insane pace. We have lost about 5-10% of our production capacity last week for a while due to a variety of causes.

We need new refineries, new oil fields and a return to drilling in ANWAR, Colorado Rockies and good old Texas Crude. never mind what it costs to get the stuff out. Deep sea drilling seems to be a good work now that new technologies are being deployed.

Dont tell me to use the Strategic Oil Reserve either. We civilians probably can burn up that stuff in about a month nation wide and it wont impact gas prices one bit. That is for the use of the Military.

As long as we rely on the American Car (And SUV's etc) and extol the Hummer H2 as the safe way to get to work over all the unwashed masses shoving and agressive driving to and from work... oil is going to be a problem that will worsen over time.

I would not be surprised if Airlines will start to cancel flights because there is no gas to fill the tanks. Or making extra stops filling as they fly across the nation.

Going to be a wonderful decade and I thought we were having fun during the ARAB Oil Embargo with the old odds and even days.

[Big_Boy_4005]

I'm not ready for $2.00 per gallon gas. I don't buy that nonsense about world demand driving prices up. World demand does not have spikes like this, it is a slow steady process. In my mind this is a clear cut example of oil company price manipulation, using every excuse in the book to make more money.

The thing is it's working, because just this past week it was reported that oil companies profits were through the roof, up between 30 and 50%. Are they reinvesting the money in improving infrastructure? No, they are lining their pockets.

What really gets my goat is the connection between so many high ranking government officials (you know who I mean), and the oil companies. Who benefits from chaos in Iraq? Certainly not the Iraqis, and not the average American either.

As far as I'm concerned, Washington is filled with the biggest bunch of liars and thieves ever to come down the pike.

Here's something to think about. Are gasoline prices rising as fast in other parts of the world as they are here? If they were rising this fast in China and India, they couldn't afford it. Somebody is getting rich, and somebody is getting duped.

Me, I fill up about once every other month. I'm lucky, I can afford to do that.

[Anonymous]

The high cost of fuel in Great Britan and many othe countries is because the tax on gas is used to pay for many social programs. Health Care is the #1 item.

Bush and Company are doing one thing and that is trying to create a society of have and have nots. The have no agenda except THEIR BOTTOM LINE.

[tatans]

I worked for an oil company way back, they payed us peasant wages but upper management always seemed to be doing well, A geologist told us to quit whining and buy some shares in the company as they were making millions, I did, and I'm almost (almost)--hoping oil goes further so I can retire (the same company also took away my pension)

[CG9602]

QUOTE: Originally posted by eolafan

Nothing has really changed in the past year when gas prices have gone (at least around here) from about $1.35/gallon this time last year to about $2.48/gallon nowadays and climbing (that's an 83% increase folks in one year). The American public is NOT driving 83% more, and cars are not suddenly getting 83% less gas mileage...SO WHAT'S THE PROBLEM

Part of the problem is that no new refineries have been built in the last 25 years stateside. Once upon a time, the petroleum companies were allowed to writwe off depreciation of their refineries. Once this allowance was removed by the Carter Administration, there was a serious financial discouragement to build new refineries, or even to upgrade and add capacity to the existing ones. The demand has increased, but there is a major league bottleneck in the supply chain. The refineries have a challenge producing the 40-odd blends of gas that are mandated by law here in the States.

I can't believe this hasn't been mentioned previously. No new refineries have been built in the last 25 years, and the ones already in existance are running flat out.

Also remember that China and India, 2 nations with populations of over 1 billion each, have been industrializing. This places more demand upon the existing market of raw petroleum.

[jeaton]

On the way to the airport yesterday, the wife noted the price of regular gas in Columbia, MD was $2.999. Nice to note they are holding the line haven't crossed the $3.00 barrier.

Daughter is looking to replace her car with a more efficient Toyota Corola. Looking at late model fairly low mileage used Corolas she finds them priced very close to brand new. I wonder why?

[Anonymous]

Well, one company around here has the answer, "Hey let's put 10% ethanol in our gas and sell it a penny cheaper!"

Give me a break.

[Modelcar]

...Take all the suggestions above and probably most are at least partly correct....and expecially the suggestion of higher demand all of a sudden...I agree...It didn't just turn on with a switch so why all of a sudden have we experienced skyrocketing prices...Something is going totally off course....and no one seems to be minding the "store" to find out what it is....Just explainations of "spin" and more of it all the time.
We're pretty good at spending money to help "others" so for now, let's put in a program like the Manhattan project of decades ago and find a new energy source once and for all....and let the Oil producers drink the stuff......

[CSXrules4eva]

JUST BRING IT!!

For me I only spend about 21 bucks a week on gas and thats at 2.67 a gal. I have a 2.5 L 4cyl engine. It tends not to be a gas hog, so I'm happy in that sence.

[jchnhtfd]

Why not? As far as I'm concerned, it would help to even out the real cost of the US dependence on the automobile -- which extends far beyond paying at the pump. Our love affair with the car has caused inumerable problems with land use, property taxes, environmental problems, etc. etc.

Bring it on, I say! $5.00 or so might begin to be reasonable.

[eastside]

A NYT article says that most people are just shrugging off the price:
"... the more common response, expressed in dozens of interviews around the nation this week, owed much more to Rodney Dangerfield - an eye-rolling shrug of what-can-you-do resignation."

When you speak of $3 gasoline you speak of the nominal price. A better perspective may be gained by looking at the price in *real* terms:
http://www.nytimes.com/2005/08/13/national/13gas.html?pagewanted=all
The $2.41/gal price as of Friday is only in the middle of the historical range. The recent 15 years of very low prices are an aberration and prices are returning to the historical average.

In answer to the question, some of us are hardly affected at all. I don't own a car, use the subway (train) or bus instead, or on the rare occasions when I must, I rent. Obviously, I know I'm affected indirectly, however.

I would also add that higher gas prices are

1. A reflection of just how well the economy is doing
2. A result of limited refining capacity
3. Caused partly by increased demand from China and India

[Modelcar]

...That wouldn't sound very reasonable to the many folks that depend on the auto for transportation to and from work just to survive without even counting any reacreation for the family.

[eastside]

QUOTE: Originally posted by Modelcar

...That wouldn't sound very reasonable to the many folks that depend on the auto for transportation to and from work just to survive without even counting any reacreation for the family.

Quite so, but the OP asks only for comment about our personal opinions and situations.

[Modelcar]

....eastside....Just a bit of misunderstanding...I was responding to the post before yours.

[Anonymous]

Recreational? I dont have too much. Occasionally a hobby shop or two a month and sunday morning services. Everything else is here at the house (Satellite, Internet and Library DVD movie list that does not cost anything to rent)

That is why I share the attitude of "BRING IT ON" to gas prices. We will simply deal with it.

[bbrant]

I haven't read all the posts so maybe this has already been mentioned. My own opinion is that gas prices are high now so that if/when it comes down to $2.25 or so it will seem like a bargain.

I travel about 150-160 miles to work and I fill up daily. Last year at this time gas was $1.75. And within the last 4 or 5 years I can recall it being .99 cents. The other day when I left for work, gas was $2.35. By the time I came home it was $2.45.

As of today, I've seen it for $2.49 - $2.51 in my town. I don't expect to see prices hit $3.00 around these parts (western PA), at least not in the foreseeable future. The price hasn't kept most people from driving so who knows for sure what will happen. Hopefully I'm not proven wrong.

Brian

[Modelcar]

....Everyone is entitled to their opinon...Personally, I won't be challanging the oil Co's to bring it on because without even encouraging that, they are......And I don't need to spend the money to drive to work being retired....but plenty do have to. I have lived through the mini prices too....Family had an Esso Station for 45 years and originally saw advertising for "6 gal. for $1.00.....!

[Modelcar]

..Brian, I paid 2.49 at that gas station there at the Somerset Turnpike interchance this past Tuesday morning as we entered to head west.....And today here in Muncie I've seen it at 2.559. If nothing changes {from the way it's going now}, I don't see it too much of a stretch to reach 3.00.....

[Anonymous]

Current price in San Francisco

I'm getting a new chain for my bicycle