Watch out: Here comes $4 gasoline

uscitizen

uscitizen

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Watch out: Here comes $4 gasoline
Prices were supposed to peak below $3 a gallon, but refinery problems, strong demand could push them much higher.
By Steve Hargreaves, CNNMoney.com staff writer
April 26 2007: 12:56 PM EDT

NEW YORK (CNNMoney.com) -- Gasoline prices, already above $3 a gallon in some states, could charge higher this summer and hit $4 a gallon in some locations, according to one industry expert.

Pump prices were supposed to peak below $3 a gallon this May, then drop off before the summer driving season got into full swing, according to the Energy Department's price forecast.

Well, we're not even out of April yet, and the nationwide average price for a gallon of unleaded regular has hit $2.87.
Behind high gas prices: The refinery crunch

One big factor driving prices: gasoline inventories continue to fall. After a promising one-week boost in refining activity, the latest report Wednesday actually shows refining activity falling. And demand is already soaring, before the summer driving season is in full swing

http://money.cnn.com/2007/04/26/news/economy/gas_prices/index.htm?postversion=2007042605

Spin where is all this refinery expansion you keep talking about ?
 
Yep Damo spinner is grinnin.

Jethro gets a new piece of rope for a belt!

Also investements in alternative energy will get a boost.


think I will order one of those new apple products....
 
Awwwhhh Yeahhhh Babe!!! A big Emrald's awh Yeah to that.

Finally a fair price for gas $4 is about right, add about 6% per year.
Kick in those alternative energy stocks.
And Apple is just Icing on the cake.

No all you class warefaring turbo libs you can link you Ipods/ITV's to killrighty.com and soon you'll be able to get moveon.org on the go with your Iphone:clink:
 
Spin did you check out the link in the "you're gonna love this thread ?

Hmm I own no apple products, not even a chinese MP3 player, but thinking about getting an IVAC.
 
guess you missed this vital part
The government said demand over the last four weeks rose by 2.3 percent. The average rate of growth is 1.5 percent.

With the current supply and demand situation, Kilduff thinks nationwide prices will have no trouble breaking the old non-inflation-adjusted record of $3.057 a gallon, hit in 2005 just after Hurricane Katrina.

It's worth noting that while $4 gasoline would be a record for American motorists, in Europe it's common. The average price for a gallon of gas in the Netherlands is over $7, and it's over $6 in many other European countries.

Also, Americans earn a lot more now than they did in 1980, so by some measures what people spend now on gas is only half of what is used to be.

In 1980, the average American had to work 105 minutes to buy enough gas to drive the average car 100 miles, David Wyss, chief economist at Standard & Poor's, said in a study last year. By 2006, the average American needed to work only 52 minutes, thanks in part to better fuel efficiency but mostly due to higher wages.
 
I know all that Spin, but what about the new refineres Bush was going to have built on abandoned bases, or the expansion you talk about ?
Plus the big fire caused by lax safety procedures and cost cutting measures....
Well that was the official cause anyway.
The increased profits are just rewarding the oil companies for bad management.

I am not so sure about the overall fuel efficiency increasing like stated.
Was that based on the "cheating" on the dual fuel vehicles ?
Btw the higher price does not bother me personally and my demand for gas has not risen. I am still burning under 30 gal per month, counting the tractor and mowers. I only burn about 15 gal per month in my car.

One thing I will be able to get a nice used farm truck extra cheap later this year. Something to haul a trailer every now and again with.
 
John Deeres are for eiltists that like BMW's as well.

And I am not rich, just have enough to retire soon now, but not to Aruba or someplace, just retire in place :)

500k is what many family's spend in 3-4 years....
 
Damocles said:
Green paint makes for premium pricing. There are good tractors out there for less.
Click to expand...

Right is it mostly a status thing.

A friend bought a low end JD riding mower. I bought the cheapest Yardman at wally world . He likes mine much better and his has been "in the shop" a few times while mine has not.

You do not always get what you pay for.
 
Blasphamy, propaganda damm you guys are killing my investment.
Actually I'm out know so keep beating it down and maybe I can get it under $100 bucks a share.

USC you my friend are in the top 5% if your living on over $125,000 a yr.:cof1:
 
Yes, but I am not living on 125K a year I am saving and investing much. I live a very modest lifestyle. I drive a 17 year old car, don't have a big widescreen or ipod.....And only debt is 2 property mortgages, which is under 100k now. One will be sold for a nice profit within one year and the other will be paid off at that time.
Now when I was married, my wife would find some way to spend all income before the next check.
Had I remained married I would had to have work till I died.
 
Smart man, I always paid my self first (401K max). First wife spent like your. Second wife clips coupons even though we don't need to.
Looks like Cher and Brains.
I fell out the lucky tree and I ain't forgetting it.
 
I'm already paying $4 per gallon so I don't know what this article is supposed to mean. :P

OTOH, with the Prius instead of the Hyundai, I'm actually spending a lot less on gas than I was this time last year. :D
 
Cool, I buy the battery inventor
Soon millions will drive hybrids and my dividends will soar.
Go green/ make green
 
Called the free market, you don't want to force the poor joe to use a fuel 70% as effecient as gas at a higher cost do you?
 
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