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Thread: Gas Prices at it again..

  1. #221
    Ohh Hell yeah.. Sava700's Avatar
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    http://www.cbsnews.com/stories/2011/...html?tag=stack

    The government reported Monday that gas is up another nickel in the past week, now selling for a nationwide average of $3.84 a gallon. In six states and the District of Columbia, the average price is over $4. And as Bill Whitaker reports, that's wreaking havoc on some family budgets.

    LOS ANGELES - Gas prices, topping $4 a gallon in California, are forcing Dwain Griffith to make tough choices. A public school security guard, Griffith drives 60 miles most days and sees a direct correlation: gas prices go up, his purchasing power goes down.

    A single dad, it hits him where it hurts most -- in his ability to give seven-year-old daughter Dallis life's little pleasures.

    "It's heartbreaking," said Griffith. "I was unable to stop and get her ice cream. I had to make an excuse. 'We'll get it later.'"

    It's not just her wants he can no longer afford, but also her needs.

    "I used to be able to buy shoes, $25 shoes or whatever. I can't afford to do that now," said Griffith. "Try to be the man in your kid's life, he's supposed to be the hero and you are unable to do those things that you were normally able to do."

    With prices rising about a penny a day last week, some 75 percent of Americans say they are now or soon will be pinching pennies. At these prices, the average American will pay about $750 more for gas this year, per car.

    In Southern California, AAA reports a 13 percent jump in calls from motorists who've run out of gas.

    "More people are trying to extend that gas tank a little farther. They don't want to go back to the gas station unless they have to," said AAA's Jeffrey Spring.

    Up the coast in Central California, Kurt Cummerfeldt parked his Suburban and hopped on a bike, saving $200 a week on his 50 mile a day commute.

    "It's a 42 gallon tank, so you do the math on that one," said Cummerfeldt. "I haven't filled it up in forever."

    As for Dwain Griffith, he can't afford to completely fill his tank either. He's switched to cheaper regular grade instead of the recommended premium.

    "My car is running bad now, because I'm putting in the wrong grade," said Griffith. "I hate it. I hate it."

    And if prices keep rising, Griffith says he has doesn't know what other corners he can cut.

  2. #222
    R.I.P. 2013-11-22 blebs's Avatar
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  3. #223
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    Sinopec stopped exporting oil....things are getting more and more interesting.

  4. #224
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    Getting beat up with high prices and the Govts best thing they can do now is make a group to watch for price gouging!?!? WTF!!!! Anything over $2/gallon is a rip off!! They need to fix speculation and fix it now!

    Prodded by growing public frustration over sharply rising gasoline prices, the Justice Department on Thursday announced the formation of a team -- the "Oil and Gas Price Fraud Working Group -- tasked with the goal of ensuring consumers are not victims of price gouging.

    Gas prices exceeding $4 per gallon or higher are "tough" for most Americans, President Barack Obama told an audience in Reno, Nevada. "We are going to make sure that no one is taking advantage of American consumers for their own short-term gain."

    "This gas issue is serious," the president said. "It hurts."

    Attorney General Eric Holder made no secret the move is a direct response to public angst, not to current evidence of any illegal conduct.

    "Rapidly rising gasoline prices are pinching the pockets of consumers across the country," Holder said in a written statement released at the Justice Department.
    http://www.cnn.com/2011/US/04/21/hol...ex.html?hpt=T1

  5. #225
    Moderator YeOldeStonecat's Avatar
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    6 dollars a gallon by end of summer is predicted.....AWESOME!

    I remember filling up the tank on the Harley last fall, usually 8 to 9 bucks. A month or so ago, was 10 bucks. Yesterday I filled her up..12 bucks! This week filling up my Jeep (just a 16 gallon tank)...68 bucks.
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  6. #226
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    Quote Originally Posted by YeOldeStonecat View Post
    6 dollars a gallon by end of summer is predicted.....AWESOME!
    It won't hit that.. something will be done before long as it's slowing down the economy..if it stays over $3/gallon the economic recovery will suffer big time. It's really hurting those in office, someone has to be blamed and now it's Obama's turn.

  7. #227
    Moderator YeOldeStonecat's Avatar
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    Quote Originally Posted by Sava700 View Post
    someone has to be blamed and now it's Obama's turn.
    I bet you we'll be close. Real close.
    He had his schpiel last night on the news, saying he'd be doing something...but it will be a while before we see the effects. Yeah...wait 6 months...prices will drop 3 cents a gallon...and he'll be a big deal out of it saying "look at how I helped you". LOL
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  8. #228
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  9. #229
    TypicalWhitePerson JC's Avatar
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    Try filling up my Avalanche, I think it has a 32gallon tank.
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  10. #230
    R.I.P. 2013-11-22 blebs's Avatar
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    Quote Originally Posted by JC View Post
    Try filling up my Avalanche, I think it has a 32gallon tank.
    I really feel sorry for the truckers. Just to fill my fuel oil tank was nearly $700, so filling a diesel tractor has to be almost $2000.
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  11. #231
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    Quote Originally Posted by blebs View Post
    I really feel sorry for the truckers. Just to fill my fuel oil tank was nearly $700, so filling a diesel tractor has to be almost $2000.
    Ohh you can bet the prices are starting to pass along, last time the prices got this high truckers just stopped doing it cause they weren't making any money and they drove on the capital. Something needs to be done and soon before as the economy is starting to tank now!

  12. #232
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    Well I see Exxon is making record profits again.. ain't that nice.

    http://moneywatch.bnet.com/investing...-2008/6225570/

    Exxon earned nearly $11 billion in the first quarter, a performance likely to land it in the center of the national debate over high gasoline prices.

    The world's largest publicly traded company on Thursday reported net income of $10.65 billion, or $2.14 per share, in the first three months of the year. That compares with $6.3 billion, or 1.33 per share a year ago. Revenue increased 26 percent to $114 billion.

  13. #233
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    Walmart CEO even states they know consumers are running out of money due to high gas prices.

    http://www.zerohedge.com/article/wal...-sign-recovery

    "Wal-Mart's core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried. "We're seeing core consumers under a lot of pressure," Duke said at an event in New York. "There's no doubt that rising fuel prices are having an impact.

  14. #234
    R.I.P. 2013-11-22 blebs's Avatar
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    Quote Originally Posted by Sava700 View Post
    Ohh you can bet the prices are starting to pass along, last time the prices got this high truckers just stopped doing it cause they weren't making any money and they drove on the capital. Something needs to be done and soon before as the economy is starting to tank now!
    It's doing exactly what they want it to do.
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  15. #235
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    National Average to top $4/gallon soon!!

    After jumping more than 3 cents over the weekend, gas prices across America could top $4 a gallon this week, according to one industry analyst.

    "We're going to hit $4 this week, nationally," said Tom Kloza, chief analyst at the Oil Price Information Service. "There's enough momentum to take us up there."
    Something has to be done...we are almost to a all time high!!! The auto makers were losing money hand over fist when it was this high, laying off thousands and it's starting up again!! The economy can't sustain this type of increase in this short period of time.

    http://money.cnn.com/2011/05/02/news...dex.htm?hpt=T2

  16. #236
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    Quote Originally Posted by blebs View Post
    It's doing exactly what they want it to do.
    Ding Ding

  17. #237
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    I can't find place selling for less than $3.89/gallon, oil prices fell a good bit yesterday and were up and down today so they shouldn't climb higher but should end up dropping a little in the coming days!! I hope oil drops half of what it is and perhaps get back to where gas prices should be which is below $2/gallon!!

    Attorney General Eric Holder says this week's drop in oil prices should put government investigators and regulators on alert for instances of fraud and manipulation that keep prices for consumers at the gasoline pump artificially high.

    Holder issued his call Friday to be vigilant about "suspected illegal activity" to a government task force that recently was set up to investigate whether there are illicit forces behind the recent surge in gasoline and other energy prices.

    The attorney general said in a memo that he realizes there will not be a perfect correlation between the decline in oil prices and the cost of a gallon of gasoline. But he said that if wholesale prices continue to decline, consumers also should pay less when they fill up.
    http://moneywatch.bnet.com/economic-...tionContent.10

  18. #238
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    Quote Originally Posted by Sava700 View Post
    Ohh you can bet the prices are starting to pass along, last time the prices got this high truckers just stopped doing it cause they weren't making any money and they drove on the capital. Something needs to be done and soon before as the economy is starting to tank now!
    That's very true.. because if gas still goes up in price, the next thing to go up is shipping costs, and then other companies will compensate by increasing their price on the products they sell. food, ECT.. A big downward spiral.


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  19. #239
    resident Humboldt's Avatar
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    Sava, where do you get your $2 per gallon figure from?

    You use it often and I'm not sure if it's based on normal reality or Sava reality.


  20. #240
    R.I.P. 2013-11-22 blebs's Avatar
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    Down to $97 a barrel now, so prices should be dropping pretty quickly, though that's not what I'm seeing.
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