Gas Prices

[Denny Crane]

so i guess the economy must have really picked up since then

Gas prices rose from a low of $1.61 on December 31st 2008 to $1.86 on March 3 2009, to $2.61 by June.

I don't think things picked up at all during those months.

Gas prices remained pretty stable at under $2.86 through November of 2010. They've been in the $3.30 to $3.90 range since then.

Current high prices are due to 3 reasons that I've been seeing:

1) Middle east concerns - from Egypt to Iran, the supply and price of oil is less certain.
2) Retooling of the refineries to produce govt. mandated summer fuel blends. Prices rose last year at this time, but not as sharply.
3) QE - printing money to mask our true deficits and debt means the A-rabs want more dollars for the same barrel of oil, since each dollar is worth less.

In fact, the chart of gas prices (http://gasbuddy.com/gb_retail_price_chart.aspx) looks like it's quite tied to the Fed QE policies.

 

[Denny Crane]

I can throw a baseball over England.

The US is a country with a lot of open space that requires transportation that can't feasibly or sensibly be filled by public transportation. Trucking is a huge part of our economy to deliver A to B to C, and high gas prices here mean bad news if we ever just stop printing money.

Then again, why stop printing make believer money? Wall Street is booming, Obama is golfing with Tiger Woods, Hollywood is prospering, and low information voters who see a free cell phone as a status symbol don't care.

Hollywood isn't thriving. They're outsourcing production to states and nations where it's cheaper.

 

[magnifier661]

I can throw a baseball over England.

The US is a country with a lot of open space that requires transportation that can't feasibly or sensibly be filled by public transportation. Trucking is a huge part of our economy to deliver A to B to C, and high gas prices here mean bad news if we ever just stop printing money.

Then again, why stop printing make believer money? Wall Street is booming, Obama is golfing with Tiger Woods, Hollywood is prospering, and low information voters who see a free cell phone as a status symbol don't care.

You are correct. Also we are the #1 consumer of gas, so the purchasing power allows us to lower taxes to compensate for more miles needed for travel.

I believe that is why the local government for heavily populated cities really need to ramp up their public transportation systems. The cost of living is so high there, plus traffic is a major issue. Without a public transportation thats efficient, usually makes the city a really hard place to live in.

 

[DaLincolnJones]

Hmm China passed us up as the largest consumer of oil..

The sad truth is that we can not afford the infrastructur for a proper masstransit system..thats why we end up with halfassed failures like the PDX light rail..

 

[EL PRESIDENTE]

JUST PAID $4.39. THANKS ALOT BERNANKE.

 

[BLAZINGGIANTS]

Gas prices are now $4.227 a gallon. Highest since Oct. 26 (shortly before election).

The price is up $.50/gallon over the past 19 days. The price has gone up for 19 days straight.

Nationwide, the price has gone up for 32 straight days and the average price is $3.73.

The numbers is for regular unleaded gas.

Coupled with the tax hike on the middle class (FICA holiday expired), it's got to hurt.

EDIT: the $4.227 a gallon is in San Diego. What are they near you?

I'm in SD now. I only dream I could find gas that cheap. The cheapest I've found has been $4.399. But I've seen a lot in the $4.50-4.60 range.

 

[The_Lillard_King]

I don't care what I have to pay, as long s I don't have to pump it.


God bless Oregon!