Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab - Page 287

**Donger** · 01:43 PM

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

Chief Roundup · 06-17-2014, 03:09 PM

$3.42 a gallon here when I filled up today. It was $3.32 last week.

**Munson** · 06-17-2014, 04:32 PM

Filled up Sunday for $3.52/gal.

Monday it jumped up to $3.67/gal.

Eleazar · 06-17-2014, 05:05 PM

I paid $3.59 today, and my average since the first of the year is $3.60. It was in the $3.60s for most of april and may. Price has been pretty stable around here.

**Bowser** · 06-17-2014, 10:11 PM

Time to pay those "special blend" summer prices! Throw in unrest in the Middle East and you get a double whammy!

Dayze · 06-18-2014, 07:52 AM

yep; there's always a 'reason'.
holy shit...It's Tuesday! better bump it up for the next time we have to fill our tanks (Gas station owners)

**Donger** · 06-18-2014, 08:23 AM

Quote:

Originally Posted by Bowser

Time to pay those "special blend" summer prices! Throw in unrest in the Middle East and you get a double whammy!

You can blame the gubmint for that one. Refiners would much rather have one formulation year-round.

**Donger** · 07-02-2014, 07:06 PM

http://fuelgaugereport.aaa.com/high-...uly-4-holiday/

Drivers Stuck Paying Highest Gas Prices in Six Years for Independence Day

U.S. drivers will pay the most expensive Independence Day gas prices since 2008, primarily because Iraqi violence has increased global petroleum costs. AAA predicts that 34.8 million Americans will travel 50 miles or more by car during the holiday weekend despite high gas prices.

“Most drivers are paying about 15-20 cents more per gallon than expected heading into the busy Independence Day weekend due to market fear about Iraq,” said Avery Ash, AAA spokesman. “It is frustrating that events overseas will make it more expensive to celebrate Fourth of July here at home.”

With Independence Day only a few days away, today’s national average price of gas is $3.68 per gallon. This average is considerably more expensive than recent years for the holiday. The national average on July 4 in previous years was: $3.48 (2013); $3.34 (2012); $3.57 (2011); $2.74 (2010); $2.62 (2009); and $4.10 (2008).

AAA does not believe that high gas prices will have a significant impact on the number of people traveling, but it could result in some consumers cutting back on dining, shopping or other trip activities. AAA’s full Independence Day forecast can be found here.

The monthly average price of gas in June was $3.67 per gallon, which was the most expensive for June since 2011, and it was the highest average for any month since March 2013. Last year gas prices averaged $3.60 per gallon in June.

Gas prices often decline in June as refineries complete maintenance and increase gasoline production in anticipation of the summer driving season. During the previous three years, the national average price of gas declined in June by an average of 21 cents per gallon. A month ago, AAA predicted the national average could decline 10-15 cents per gallon in June, but this did not happen due to the unexpected events in Iraq.

On June 10, insurgents known as the Islamic State of Iraq and the Levant (ISIL), captured Mosul, which is Iraq’s second largest city. Following this attack, there were concerns in the market that the rebels would take Baghdad or disrupt the southern oil producing regions of the country. These concerns helped drive up global oil prices, which made it more expensive to produce gasoline. Iraq is the second largest oil producer in OPEC, and any decline in exports could impact global oil supplies.

Deberg_1990 · 07-02-2014, 07:10 PM

Where's the Obama outrage over this ?

Not that I think it's his fault, but the media and Libs were always hammering Bush on gas prices.

**PHOG** · 07-02-2014, 07:17 PM

Quote:

Originally Posted by Donger

http://fuelgaugereport.aaa.com/high-...uly-4-holiday/

Drivers Stuck Paying Highest Gas Prices in Six Years for Independence Day

U.S. drivers will pay the most expensive Independence Day gas prices since 2008, primarily because Iraqi violence has increased global petroleum costs. AAA predicts that 34.8 million Americans will travel 50 miles or more by car during the holiday weekend despite high gas prices.

“Most drivers are paying about 15-20 cents more per gallon than expected heading into the busy Independence Day weekend due to market fear about Iraq,” said Avery Ash, AAA spokesman. “It is frustrating that events overseas will make it more expensive to celebrate Fourth of July here at home.”

With Independence Day only a few days away, today’s national average price of gas is $3.68 per gallon. This average is considerably more expensive than recent years for the holiday. The national average on July 4 in previous years was: $3.48 (2013); $3.34 (2012); $3.57 (2011); $2.74 (2010); $2.62 (2009); and $4.10 (2008).

AAA does not believe that high gas prices will have a significant impact on the number of people traveling, but it could result in some consumers cutting back on dining, shopping or other trip activities. AAA’s full Independence Day forecast can be found here.

The monthly average price of gas in June was $3.67 per gallon, which was the most expensive for June since 2011, and it was the highest average for any month since March 2013. Last year gas prices averaged $3.60 per gallon in June.

Gas prices often decline in June as refineries complete maintenance and increase gasoline production in anticipation of the summer driving season. During the previous three years, the national average price of gas declined in June by an average of 21 cents per gallon. A month ago, AAA predicted the national average could decline 10-15 cents per gallon in June, but this did not happen due to the unexpected events in Iraq.

On June 10, insurgents known as the Islamic State of Iraq and the Levant (ISIL), captured Mosul, which is Iraq’s second largest city. Following this attack, there were concerns in the market that the rebels would take Baghdad or disrupt the southern oil producing regions of the country. These concerns helped drive up global oil prices, which made it more expensive to produce gasoline. Iraq is the second largest oil producer in OPEC, and any decline in exports could impact global oil supplies.

OH no, not again, just market prices, right?? What a Joke.

**jjchieffan** · 07-02-2014, 07:22 PM

Price is $3.28 in Nixa today. $3.41 in Springfield. Not sure why such a big difference in neighboring cities but I buy in Nixa since it's on my way to work.

**BigMeatballDave** · 07-02-2014, 07:25 PM

Quote:

Originally Posted by Deberg_1990

Where's the Obama outrage over this ?

Not that I think it's his fault, but the media and Libs were always hammering Bush on gas prices.

Teflon President

Cannibal · 07-02-2014, 07:27 PM

All you stupid ****s that live 30+ miles out of town have gotta be annoyed....

**PHOG** · 07-02-2014, 07:28 PM

In Tulsa, it's priced about 2.00 bucks too much at 3.36, save.

**Bugeater** · 07-02-2014, 08:57 PM

Haha well I'm not traveling this weekend so you can go **** yourself Donger.

**Donger** · 07-05-2014, 06:01 PM

The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said.

U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids.

“The U.S. increase in supply is a very meaningful chunk of oil,” Francisco Blanch, the bank’s head of commodities research, said by phone from New York. “The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.”

Oil extraction is soaring at shale formations in Texas and North Dakota as companies split rocks using high-pressure liquid, a process known as hydraulic fracturing, or fracking. The surge in supply combined with restrictions on exporting crude is curbing the price of West Texas Intermediate, America’s oil benchmark. The U.S., the world’s largest oil consumer, still imported an average of 7.5 million barrels a day of crude in April, according to the Department of Energy’s statistical arm.

04-23-2007, 08:40 AM
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $6819900 VARSITY	Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo Pretty alarmist, IMO, but possible. Spoiler! April 23 (Bloomberg) -- Whether it's $50 to fill up your Prius or $130 for the Ford Expedition, $4-a-gallon gasoline is coming to a pump near you. Fuel prices are rising at a pace not seen since Hurricanes Katrina and Rita knocked out a third of the U.S. oil refining industry in 2005. Gasoline consumption is climbing twice as fast as last year and will accelerate when summer travel begins late next month. ``What we're surprised by is the increased demand,'' said James Mulva, chief executive officer at ConocoPhillips, whose refineries from California to New Jersey produce 56 million gallons of gas a day, enough to meet 14 percent of the country's needs. ``Even though the price of gasoline is up, the demand is up,'' he said in an April 12 interview in Houston. Population gains and U.S. economic growth are causing an increase in fuel purchases, according to Orlando, Florida-based AAA, the nation's largest organization for motorists. The U.S. economy will expand at a 2.4 percent annual pace in the second quarter, up from 1.8 percent in the first three months, according to the median estimate of 74 economists surveyed by Bloomberg. Gasoline use is rising almost 5 percent above the five-year average. Americans are resigned to higher prices, says David Pursell, a principal with Pickering Energy Partners, a consulting firm in Houston. ``Last year, we had pump prices well over $3 for the summer and gasoline demand was up,'' Pursell said in an interview. ``Would $4 gasoline cause demand contraction? I think it will, but I also thought $3 gasoline would.'' Pump Prices Gasoline inventories, measured by the days of demand they will cover, are at the lowest level in two decades for this time of year because of refinery fires, power failures and maintenance work oil companies failed to complete in 2006. No new U.S. refinery has been built in three decades, increasing the strain on existing plants. Pump prices in the U.S. may increase to $4 a gallon from a nationwide average of $2.87 today, especially if hurricanes threaten Gulf of Mexico refineries, says Peter Beutel, an analyst at Cameron Hanover Inc. in Stamford, Connecticut, who helps industrial consumers manage energy costs. ``Hurricanes are always the huge wild card,'' said Beutel. ``We're all praying for a year like 2006 rather than 2005.'' The June-to-November Atlantic Ocean hurricane season may produce 17 tropical storms, with nine reaching hurricane force and four becoming major hurricanes whose winds exceed 111 miles per hour (179 kilometers per hour), London-based forecasters at Tropical Storm Risk said. Some of the storms will strike the Gulf Coast this year after a benign 2006, AccuWeather.com predicted. Inflation Risk Higher pump prices will make winners of refinery owners such as ConocoPhillips, San Antonio-based Valero Energy Corp. and Royal Dutch Shell Plc of The Hague. Shares of Valero and Sunoco Inc., whose only business is refining, are rebounding after a decline at the end of last summer. The increase in fuel costs threatens to quicken inflation and restrain consumer spending in the U.S. An appreciation to $4 a gallon would add more than $10 for a driver who fills the 12- gallon tank of a Toyota Motor Corp. Prius. The owner of an Expedition, a Ford Motor Co. sport-utility vehicle with a 34- gallon capacity, faces an increase of almost $40. Many Americans have no choice but to drive more, says Christopher Knittel, an economist who studies fuel consumption at the University of California in Davis. More Commuters ``We live farther from our jobs than we did in the 1970s, and with the rise of dual-income households, we now have two people who drive those distances every day,'' Knittel said. Consumers also do more driving for things such as taking children to soccer practice, which they are unlikely to quit, he said. The U.S. population has increased 1 percent a year in the past decade to 301 million in 2007, adding to demand for gasoline, economists said. Rising fuel prices make it less likely that Federal Reserve policy makers, who have cited inflation risks for the past year, will cut interest rates to spur economic growth. Before the hurricane-induced peak in 2005, U.S. gasoline topped out at $1.42 a gallon in March 1981, or $3.21 when adjusted for inflation, according to the Energy Department. Economies in Europe and Asia are less likely to be hurt by gasoline prices because fuel already is subject to high taxes designed to encourage conservation. A gallon of unleaded costs about 3.25 pounds a gallon ($6.49) in the U.K., and in Japan it's 130.3 yen per liter ($4.16 a gallon). $4 Barrier U.S. consumers will get little relief on gasoline prices from Europe this year, unlike 2005, when oil companies shipped more across the Atlantic after the hurricanes. Europe's gasoline inventories in February were 114.2 million barrels, down 11 percent from two years earlier, according to the International Energy Agency in Paris. The drop in Europe was almost twice the 5.7 percent decline in U.S. supplies in that time. ``Just as we used to think $3 a gallon was an impenetrable barrier, now it's $4,'' said Peter Morici, a professor at the University of Maryland School of Business in College Park and former chief economist for the U.S. International Trade Commission. Gasoline at $3.50 is likely, Morici said, and a conflict with Iran or any event that disrupts crude supplies may push it to $4. Pump prices rose 33 percent in the past 11 weeks, the fastest rate of gain since a six-week, 34 percent rally to the record $3.069 in September 2005, Energy Department data show. Bodman's `Worry' U.S. Energy Secretary Samuel Bodman in an interview last week said the national average pump price could break the record this summer. While his agency's official forecast is for gasoline to peak next month at about where it is today, hurricanes, refinery closures or crude oil supply cuts may send prices higher, he said. Higher prices are ``a legitimate worry,'' Bodman said. ``We have trouble spots all over the world'' that could boost crude oil prices. ``We're in a very tight situation.'' Spending on fuel in the U.S. consumes half as much household income as in the early 1980s, which means gasoline would need to reach almost $6 a gallon to have the same effect on the economy as in 1981, according to the Federal Reserve Bank of Dallas. Storage tanks at U.S. refineries, terminals and ports hold enough gasoline to cover almost 22 days of domestic demand, 8.2 percent less than the five-year average and the lowest for this time of year since the 1980s, Energy Department figures show. Shortages Valero-owned filling stations in Denver and Colorado Springs, Colorado, ran dry after a Feb. 16 explosion and fire shut the company's McKee refinery in Sunray, Texas. A day earlier, a blaze at an Exxon Mobil Corp. plant in Nanticoke, Ontario, slashed output, resulting in shortages and higher prices across eastern Canada. The McKee shutdown strained supplies so much that ConocoPhillips postponed maintenance at its Borger, Texas, refinery north of Amarillo to prevent shortages in the region. ``Refineries are becoming more complex,'' Mulva said in the Houston interview. ``What we're finding is it's more difficult keeping reliability up with more sophisticated pieces of equipment that are highly integrated.'' Tesoro Corp. of San Antonio, the second-largest refiner in the western U.S., said first-quarter refinery use dropped because oil companies delayed until this year maintenance that could have been done in 2006. The portion of U.S. refining capacity that was in operation in the first quarter declined to 87.3 percent from 88.9 percent a year earlier, according to Energy Department data. `Refineries Blow Up' ``Prices will depend entirely on whether we have a couple of refineries blow up,'' said Philip K. Verleger, an economist who runs a consulting firm in Newport Beach, California. ``It's almost impossible we'll get to $4 a gallon if all the refineries run well this summer. But if something happens and there are problems, then anything's possible.'' The average share gain for Valero, Tesoro and six other oil-refining companies is 26 percent this year, outperforming the 4.1 percent gain for Exxon Mobil and a 4.7 percent increase for the Standard & Poor's 500 index. The shares will continue to rally, said Paul Carlson, who helps manage $3 billion at HGK Asset Management in Jersey City, New Jersey. ``Refiners are doing very well these days,'' said Carlson, whose holdings include ConocoPhillips, the second-biggest U.S. refiner. ``There will be lots of demand for any new refining stocks.'' `Back in Favor' As recently as August, investors were selling oil refiners on concern an economic slowdown would slash fuel demand in the U.S., the world's largest energy market. During seven weeks last August and September, Valero shares fell 29 percent, wiping out $12 billion in market value. ``Refining is very much back in favor,'' said Douglas Ober, who helps oversee $2.3 billion at Baltimore-based Adams Express Co. ``Even with higher prices, we haven't seen any substantial cutback in demand. They're cranking out as much of this stuff as they can, and we're throwing it in our tanks as fast as we can.'' The margin earned from processing crude oil into fuels rose to $24.68 a barrel on April 11, the highest since right after the hurricanes in September 2005. The margin has since retreated to $22.12 a barrel, still about double the five-year average. ``It'll be a fairly tight gasoline market all through the summer,'' said Robert Hinckley, an analyst at Rochdale Securities in New York. Last edited by Donger; 10-10-2014 at 01:43 PM..
Posts: 191,135

06-17-2014, 03:09 PM	#4291
Chief Roundup Admitted Planet Junky Join Date: Oct 2000 Casino cash: $-1488373	$3.42 a gallon here when I filled up today. It was $3.32 last week. __________________ Fanaticism is nowhere. There is no tenderness or humanity in fanaticism.
Posts: 19,558

06-17-2014, 04:32 PM	#4292
Munson Roy E. Join Date: Sep 2005 Location: Olathe, KS Casino cash: $8269646	Filled up Sunday for $3.52/gal. Monday it jumped up to $3.67/gal.
Posts: 23,414

06-17-2014, 05:05 PM	#4293
Eleazar Beyond the Rapids Join Date: May 2003 Location: Langley, VA Casino cash: $-370000	I paid $3.59 today, and my average since the first of the year is $3.60. It was in the $3.60s for most of april and may. Price has been pretty stable around here.
Posts: 80,659

06-17-2014, 10:11 PM	#4294
Bowser sorta mod-ish Join Date: Jan 2004 Location: KC North Casino cash: $-138384	Time to pay those "special blend" summer prices! Throw in unrest in the Middle East and you get a double whammy!
Posts: 106,751

06-18-2014, 07:52 AM	#4295
Dayze Resident Glue Sniffer Join Date: Nov 2003 Casino cash: $1839358	yep; there's always a 'reason'. holy shit...It's Tuesday! better bump it up for the next time we have to fill our tanks (Gas station owners) __________________ Life is 99% inspiration, 1% Perspiration, and 1% Attention to Detial. RIP & Godspeed: Saccoppo Lonewolf Ed Fire Me Boy
Posts: 37,460

07-02-2014, 07:06 PM	#4297
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $6819900 VARSITY	http://fuelgaugereport.aaa.com/high-...uly-4-holiday/ Drivers Stuck Paying Highest Gas Prices in Six Years for Independence Day U.S. drivers will pay the most expensive Independence Day gas prices since 2008, primarily because Iraqi violence has increased global petroleum costs. AAA predicts that 34.8 million Americans will travel 50 miles or more by car during the holiday weekend despite high gas prices. “Most drivers are paying about 15-20 cents more per gallon than expected heading into the busy Independence Day weekend due to market fear about Iraq,” said Avery Ash, AAA spokesman. “It is frustrating that events overseas will make it more expensive to celebrate Fourth of July here at home.” With Independence Day only a few days away, today’s national average price of gas is $3.68 per gallon. This average is considerably more expensive than recent years for the holiday. The national average on July 4 in previous years was: $3.48 (2013); $3.34 (2012); $3.57 (2011); $2.74 (2010); $2.62 (2009); and $4.10 (2008). AAA does not believe that high gas prices will have a significant impact on the number of people traveling, but it could result in some consumers cutting back on dining, shopping or other trip activities. AAA’s full Independence Day forecast can be found here. The monthly average price of gas in June was $3.67 per gallon, which was the most expensive for June since 2011, and it was the highest average for any month since March 2013. Last year gas prices averaged $3.60 per gallon in June. Gas prices often decline in June as refineries complete maintenance and increase gasoline production in anticipation of the summer driving season. During the previous three years, the national average price of gas declined in June by an average of 21 cents per gallon. A month ago, AAA predicted the national average could decline 10-15 cents per gallon in June, but this did not happen due to the unexpected events in Iraq. On June 10, insurgents known as the Islamic State of Iraq and the Levant (ISIL), captured Mosul, which is Iraq’s second largest city. Following this attack, there were concerns in the market that the rebels would take Baghdad or disrupt the southern oil producing regions of the country. These concerns helped drive up global oil prices, which made it more expensive to produce gasoline. Iraq is the second largest oil producer in OPEC, and any decline in exports could impact global oil supplies. __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 191,135

07-02-2014, 07:10 PM	#4298
Deberg_1990 In Search of a Life Join Date: Jan 2004 Location: San Antonio Tx. Casino cash: $204454	Where's the Obama outrage over this ? Not that I think it's his fault, but the media and Libs were always hammering Bush on gas prices. __________________ Originally Posted by Cassel's Reckoning: Matt once made a very nice play in Seattle where he spun away from a pass rusher and hit Bowe off his back foot for a first down. One of the best plays Matt has ever made.
Posts: 68,555

07-02-2014, 07:22 PM	#4300
jjchieffan Supporter Join Date: Dec 2005 Location: Highlandville, MO Casino cash: $-17752	Price is $3.28 in Nixa today. $3.41 in Springfield. Not sure why such a big difference in neighboring cities but I buy in Nixa since it's on my way to work. __________________ Genesis 1:1 In the beginning, God created the Heavens and the Earth. Following the historical accounts and the genealogy from that point on, the age of the Earth is approximately 6000-7000 years old. The Big Bullshit Theory is a lie. It and the evolution theory go against real science. Satan has used our public school system to brainwash everyone into believing these lies. Be not decieved.
Posts: 13,330

07-02-2014, 07:27 PM	#4302
Cannibal Better to burn out... Join Date: Aug 2000 Location: Bible Thumping Country Casino cash: $10010618	All you stupid ****s that live 30+ miles out of town have gotta be annoyed....
Posts: 9,306

07-02-2014, 07:28 PM	#4303
PHOG Dazed and Confused Join Date: Jan 2002 Location: Somewhere Out There Casino cash: $-1769500	In Tulsa, it's priced about 2.00 bucks too much at 3.36, save.
Posts: 20,007

07-02-2014, 08:57 PM	#4304
Bugeater The Maintenance Guy Join Date: Sep 2005 Location: Renovated Bugeater Estate Casino cash: $3992680	Haha well I'm not traveling this weekend so you can go **** yourself Donger.
Posts: 70,546

07-05-2014, 06:01 PM	#4305
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $6819900 VARSITY	The U.S. will remain the world’s biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation’s economic recovery, Bank of America Corp. said. U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world’s largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids. “The U.S. increase in supply is a very meaningful chunk of oil,” Francisco Blanch, the bank’s head of commodities research, said by phone from New York. “The shale boom is playing a key role in the U.S. recovery. If the U.S. didn’t have this energy supply, prices at the pump would be completely unaffordable.” Oil extraction is soaring at shale formations in Texas and North Dakota as companies split rocks using high-pressure liquid, a process known as hydraulic fracturing, or fracking. The surge in supply combined with restrictions on exporting crude is curbing the price of West Texas Intermediate, America’s oil benchmark. The U.S., the world’s largest oil consumer, still imported an average of 7.5 million barrels a day of crude in April, according to the Department of Energy’s statistical arm. __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 191,135