Another Gasoline Record

shortonoil · Fission Joined: Dec 02, 2004 Posts: 2520 Location: VA USA

DantesPeak said:

DomusAlbion · Posted: Sun Apr 27, 2008 6:09 pm Post subject: Re: Another Gasoline Record

vision-master · Posted: Sun Apr 27, 2008 6:33 pm Post subject: Re: Another Gasoline Record

Troyboy1208 · Posted: Sun Apr 27, 2008 8:37 pm Post subject: Re: Another Gasoline Record

Gas at my corner gas station is at 3.69. Manager said they are betting which arrives first: Memorial day or 4.00 unleaded...

eastbay · Posted: Sun Apr 27, 2008 8:42 pm Post subject: Re: Another Gasoline Record

frankthetank · Posted: Mon Apr 28, 2008 11:01 pm Post subject: Re: Another Gasoline Record

I paid 3.38 gallon tonite ... talk about cheap! Here in town its 3.58, but across the river at Fleet Farm its 3.38 (with .04 coupon)... Wish i would've needed more gas.
_________________
"Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07

vision-master · Posted: Tue Apr 29, 2008 7:20 pm Post subject: Re: Another Gasoline Record

frankthetank · Posted: Tue Apr 29, 2008 8:45 pm Post subject: Re: Another Gasoline Record

Gas up to 3.60 now.

Noticed a scooter at the bar that i drive by everyday. First time i've seen that.
_________________
"Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07

Duende · Posted: Wed Apr 30, 2008 11:48 am Post subject: Re: Another Gasoline Record

TroyBoy1208 wrote:

Smudger · Posted: Wed Apr 30, 2008 12:04 pm Post subject: Re: Another Gasoline Record

I paid about $9......

Gandalf_the_White · Intermediate Crude Joined: Nov 21, 2007 Posts: 511

We all think $4 by Memorial Day, certainly $4 this summer is highly expected and will most likely happen.

Last night we got our fisrts taste of the mid to long range predictions. Even some of our local economists were on the news, and on record now saying that the trend is up and that we will eventually see $10 per gallong. That spooked some folks. The timeline they are looking at is 5 to 10 years rather than 2 to 3. I was glad to here it and sad also. Now I suppose that a weakening dollar and strong wage growth in the next five years could make it an even swing, but I think the tone was actually a limits to growth thing. Demand overseas is outstripping supply growth which has been flat for a few years now. Within two years if not this summer we will see the MSM and breakaway groups of economists talking openly about peak oil.

I suspect that the warmer weather in a few weeks will start us off into the superspike which could happen later this summer or next summer with prices approaching $200 to $250 and then a fall back into the $130 to $150 range. The result of course is a deep recession that simply does not go away.

the job cuts will come in a few ways

1) outsourcing

2) mergers

3) bankruptcies

Stagflation will eat away at buying power while the bottom third of American society suffers in silence for quite a while. The people making more than the median wage in their area will not be badly affected even though the price spike comes if they are ware of what is happening. My wife and I have already limited our fuel consumption to between $50 and $100 per month. People making over $70k as a family can probably survive $10 gasoline and keep doing alot of what they do. (if only I we were making that much.)

As certain luxuries are cut back there will be booms for other entertainment, the step down will be gradual or sudden depending on who you are and where you are.

The upper classes will feel it as their assets underperform but they will be able to weather the storm for a long time if they get some tangible assets like a euro portfolio etc.

The dollar will continue to fall. What we see hapening is the system trying to adjust to changes in supply and demand for a primary energy source. It will be bad, but not the apocalypse yet. Much worse is coming than what we will see in the next three years.
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I return to you now at the turning of the tide.

GoghGoner · Heavy Crude Joined: Apr 10, 2008 Posts: 274

June gasoline futures rose 5.24 cents to $3.1053 a gallon after earlier setting a new trading record of $3.1163

I also read an article today about a Canadian refinery company who lost money last quarter.
Refinery Article

Troyboy1208 · Posted: Tue May 06, 2008 10:50 am Post subject: Re: Another Gasoline Record

New records are now the norm. 3.10 wholesales is about 3.70-3.80 I would think.

jbrovont · Heavy Crude Joined: Jun 16, 2006 Posts: 343

The way things are gaining momentum now, $4/gal avg this summer appears certain. Really sucks if you're driving a high-compression or deisel this summer :S

Tanada · Posted: Tue May 06, 2008 12:27 pm Post subject: Re: Another Gasoline Record