Newest rumor.. gas at $5 a gallon by weekend

[Dawai]

Yep.. everyone around here has headed out to the station to fill up.

[Evan]

I don't see it. The price of oil is collapsing.

[lazlo]

I don't see it. The price of oil is collapsing.

Unless one of the speculators is spreading the rumor

[oldtiffie]

I don't see it. The price of oil is collapsing.

Unless one of the speculators is spreading the rumor

Pure speculation!!!

[bollie7]

We are paying almost that now on the east coast of Aus. just done the conversion and it works out at $1.63/litre Aus. I saw fuel this morning at $1.59/litre. Yesterday morning it was $1.42/litre.
Funnily enough when the price of oil was at its peak a few weeks ago ($140?US/barrel) we were paying around $1.65/litre. Now oil is around $102US/barrel we are still paying $1.58/litre.
Strange how the price of fuel, that was bought when oil was down in price, has been refined and is sitting in the service station tank, goes up immediately when the price of crude goes up but never seems to come down by much when the price of crude comes down.

The oil companies have certainly got us over a barrel, so to speak.

have good day everyone

regards
bollie7

[DR]

Just this morning I paid $3.73/gallon. That's exactly one dollar less than the all-time high I paid of $4.73.

This whole gas price increase has shown an interesting consumer phenomenon. People act on rising prices and not necessarily the actual price.

Per my local newspaper, owners are taking incredible losses to dump their big SUV's and get into a high mpg vehicle. That doesn't make sense in most cases.

If you drive 10K miles a year, at $3.00/gal a 20mpg vehicle costs $1500/year in fuel. Raise the price to $4.00/gal and it'll cost you $500 more a year. Is it worth it to take the $5K loss some owners are suffering to get out of the SUV and into a Prius, just to save $500/yr? Not to mention dealers are charging premium prices for the Prius type cars.

[dan s]

It is if your a middle aged yuppie that has a small winki complex and thus purchased the largest SUV your budget would allow, and not can't afford the extra cost of gas (or what you think it will cost a year or two from now).

Is it worth it to take the $5K loss some owners are suffering to get out of the SUV and into a Prius, just to save $500/yr? Not to mention dealers are charging premium prices for the Prius type cars.

[PTSideshow]

Has to do with the shut down of Huston area refineries due to Ike and an other reason not to lower the price at the pumps for awhile so they can make some money.

[lazlo]

It is if your a middle aged yuppie that has a small winki complex and thus purchased the largest SUV your budget would allow, and not can't afford the extra cost of gas (or what you think it will cost a year or two from now).

No kidding -- they're endemic in Austin (Yuppie capital of the World)
The 2009 Suburban gets 14 MPG city...

[J Tiers]

WHOLESALE gas in texas area is at $5, which would be higher as a retail price, except that I understand there IS no gas to be had whatever. Everyone filled up to leave, and anyone who didn't will be walking out of town.

At least that is what the media talking heads said...... No clue if it's true, probably is in certain areas.

You can mandate that people leave, but ya can't gas 'em up so they will.....?