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Topic: PWNED at the gas pump... (Read 324 times) |
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Hirvimaki
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PWNED at the gas pump...
« on: Mar 4th, 2005, 11:50am » |
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Prepare to be:
Gas prices might increase 24 cents
By James R. Healey, USA TODAY
Gasoline prices could rocket 24 cents a gallon the next few days, as stations across the USA scramble to keep up with big jumps in the prices of oil and wholesale gas, a veteran energy-price analyst forecast Thursday.
"It's going to be brutal, horrendous," says Peter Beutel, president of energy-price tracker Cameron Hanover. He has followed energy markets for nearly three decades.
Thursday, light, sweet crude oil for April delivery traded as high as $55.20 a barrel in New York before closing at $53.57.
A 24-cent jump in the price of gas would bump unleaded regular to a nationwide average of about $2.16 a gallon, blowing through last May's record of about $2.06. It could go higher as increased warm-weather driving in another two months pushes up demand, and therefore prices, forecasters say.
Adjusted for inflation, gas would have to hit about $2.95 for a record.
The price increase translates to "$90 million a day, every day that it remains in effect," which could be several months, Beutel says.
"Petronoia is in full flower. Retail gasoline has some 25 to 28 cents a gallon in increases ahead just to catch up to what has happened with wholesale (gas prices) since Christmas week," says Tom Kloza, senior analyst at the Oil Price Information Service. He foresees a record-breaking peak but not until the last half of this month. "What I can't determine is whether that level will last, like it did last year" or drop back as refineries ramp up gasoline production.
Petronoia is Kloza's description of when petroleum traders become irrationally afraid there won't be enough oil and gasoline later, so they buy now, bidding up prices.
The government's short-term-energy-price expert thinks the analysts are overreacting. Oil and wholesale gas prices have increased a lot, agrees Michael Burdette, senior analyst at the U.S. Energy Information Administration, but it takes about eight weeks for those changes to be completely reflected in pump prices. "In the next eight weeks, (wholesale gas) prices will change, so it's a moving target." At worst, he sees a dime jump in the near future.
Seasonal maintenance and other disruptions had U.S. refineries operating at just 89.3% capacity last week, lowest in four months, making traders jumpy about supplies.
The U.S. dollar has fallen in value recently, also, and foreign oil sellers, who control most supplies, want more dollars per barrel to compensate.
Those factors outweigh the U.S. government's midweek report showing ample supplies. U.S. inventories of crude oil, from which gasoline is made, were up a hefty 8.6% from a year ago and up 0.8% from the previous week. Supplies of gasoline were up 10.1% from a year ago, and even with a week ago.
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"What makes us discontented with our condition is the absurdly exaggerated idea we have of the happiness of others."
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nani
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Re: PWNED at the gas pump...
« Reply #1 on: Mar 4th, 2005, 11:52am » |
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My next car will be a hybrid....
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Langa
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Re: PWNED at the gas pump...
« Reply #2 on: Mar 4th, 2005, 12:23pm » |
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I should consider hitch-hiking to work from now on...I have an hour's drive each way 
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Ghost
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Re: PWNED at the gas pump...
« Reply #3 on: Mar 4th, 2005, 12:24pm » |
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on Mar 4th, 2005, 12:23pm, Langa wrote:| I should consider hitch-hiking to work from now on...I have an hour's drive each way |
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me 2 and I got a little hyundia
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Langa
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Re: PWNED at the gas pump...
« Reply #4 on: Mar 4th, 2005, 12:26pm » |
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I won't have any luck hitch-hiking in NY...perhaps I can rollerblade it... 
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When you saw only one set of footprints, it was then that I carried you.
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Hirvimaki
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Re: PWNED at the gas pump...
« Reply #5 on: Mar 4th, 2005, 12:46pm » |
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on Mar 4th, 2005, 12:23pm, Langa wrote:| I should consider hitch-hiking to work from now on...I have an hour's drive each way |
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Girl hitchhikers are sexy... 
Hirvimaki-Isi
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"What makes us discontented with our condition is the absurdly exaggerated idea we have of the happiness of others."
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vietvet2tours
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Re: PWNED at the gas pump...
« Reply #6 on: Mar 4th, 2005, 12:50pm » |
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then today I quit farmin and ranchin.High fuel costs,high machinery costs,hundred dollar hay,high transportation costs,low grain prices,decent beef prices,but it costs a shitload to keep them around.Plus eight years of extreme drought helps my decision ta just say fuck this shit I quit.
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Kill em all let God sort em out
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Barry_T_Coles
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Re: PWNED at the gas pump...
« Reply #7 on: Mar 7th, 2005, 9:04pm » |
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Boy
I wish we could get unleaded as cheap as that over here.
In Karratha we pay around $1.03 per litre for unleaded,
that works out to be close to $4.70 per gallon.
In very remote areas you can pay up to $1.50 per litre or $6.80 a gallon.
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Barry_T_Coles
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Re: PWNED at the gas pump...
« Reply #9 on: Mar 7th, 2005, 11:09pm » |
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Just went and fueled up, I dont look at the pump price very often when the price goes over $1.00/litre.
My previous post was only what I remembered the last time I looked.
Regular unleaded 91 Octane 120.90c/litre.
Premium unleaded 95 Octane 125.90c/litre.
Diesel 121.90c/litre.
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| « Last Edit: Mar 7th, 2005, 11:12pm by Barry_T_Coles » |
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Cerberus
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Re: PWNED at the gas pump...
« Reply #10 on: Mar 8th, 2005, 12:00am » |
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I think I'll Buy a Hummer....they are gonna be real cheap soon at this rate....Oh wait. .. I live in Illinois, nevermind.
Ramon
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LeLimey
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Re: PWNED at the gas pump...
« Reply #11 on: Mar 8th, 2005, 4:11am » |
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Well I have to admit I'm looking at those prices and thinking I wish! That is less than we pay per litre. I pay 84 pence a litre which is about $1.60
Its all relative though... a hike of 10 pence a gallon would have me up in arms too.
Last time we had a huge increase here we had an almighty boycott of the refineries or whatever it is we have where the petrol tankers fill up! (excuse my ignorance) and the government HAD to back down.
Maybe the time has come for people there to make a stand and say enough is enough.
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| « Last Edit: Mar 8th, 2005, 4:12am by LeLimey » |
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floridian
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Re: PWNED at the gas pump...
« Reply #12 on: Mar 8th, 2005, 11:45am » |
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I took some pictures of the first hydrogen filling station a few years ago when in Reykjavik - its still has only a handfull of customers, but if you have electricity (hydropower, wind, or whatever), it makes sense. If only they had better ways of storing hydrogen, it would boom!
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| « Last Edit: Mar 8th, 2005, 11:46am by floridian » |
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Hirvimaki
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Re: PWNED at the gas pump...
« Reply #13 on: Mar 8th, 2005, 11:58am » |
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on Mar 8th, 2005, 11:45am, floridian wrote:| I took some pictures of the first hydrogen filling station a few years ago when in Reykjavik - its still has only a handfull of customers, but if you have electricity (hydropower, wind, or whatever), it makes sense. If only they had better ways of storing hydrogen, it would boom! |
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Tsk, tsk. "Hydrogen" and "boom" should never be used in the same sentence.
Hirvimaki-Isi
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Jeepgun
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Re: PWNED at the gas pump...
« Reply #14 on: Mar 8th, 2005, 1:42pm » |
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Hydrogen could produce more efficient air travel, too!! Just think! We could make huge airships and.... (Whaddya' mean, "That's already been tried."? WHAT Hindenburg? Never heard of it!) 
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Hirvimaki
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Re: PWNED at the gas pump...
« Reply #15 on: Mar 8th, 2005, 1:46pm » |
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on Mar 8th, 2005, 1:42pm, Frank_W wrote:| We could make huge airships... |
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Frank,
Take a close look at the picture of the hitchhiker above... She ain't hitchin' a ride in a car.
Hirvimaki-Isi
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| « Last Edit: Mar 8th, 2005, 1:46pm by Hirvimaki » |
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"What makes us discontented with our condition is the absurdly exaggerated idea we have of the happiness of others."
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Gator
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Re: PWNED at the gas pump...
« Reply #16 on: Mar 8th, 2005, 1:50pm » |
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on Mar 8th, 2005, 11:58am, Hirvimaki wrote:
Tsk, tsk. "Hydrogen" and "boom" should never be used in the same sentence.
Hirvimaki-Isi |
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Damn! Beat me to the punch.
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