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National Gas Pump Prices Will Peak at...

(US National average for unleaded gasoline)

It's already $3.30 here in Reno, so I think $4.00+ is on the way.

Hi Chuck:

___I voted for $4.00 +. Another Iranian incursion (sure is nice to be able to pick up some sailors and get a wonderful 5% raise - take that one any way you want too :D) or heaven forbid a hurricane or two. And of course the ever present BP, Exxon/Mobil, Chevron refinery outage or explosion at the most impromptu times … I hope none are the case and we see a top out just about where we are today. We are just now touching $2.90 in the Chicago area and it is a bit tough to swallow. It should however make others think a bit harder about where our fuel comes from, what we are doing by emitting its effluent, and all the other consequences of using this limited natural resource.

___Good Luck

___Wayne

Wayne,

I have not voted yet - still trying to figure the chances one of those events will happen this summer - it could go either way.

Imagine the political impact of one of these pump-spiking events occuring in the Fall of 2008.

3.10... I think there is enough fat in the big oil profit that they can trim margin to keep it below 3.25. People like rounding, so if it's 3.10, than it's 3.00. If it's 3.15, than its 3.25. Seems to be a phycological block to 3.25 or 3.50.

See http://en.wikipedia.org/wiki/Fuel_efficiency_in_transportation . There is a plateau at around 2.90 to 3.10.

11011011

I think $3.00 is a week or two away, and given our impressive ability to change our standards regarding what is expensive I don't think that anything will change at $3.25. I'm thinking $3.50 national average, with some places going as high as $4.00.

Hi Chuck:

___CNN/Money just had an interesting story on gas prices peaking in May … Of course this is yet another government rehashed report. Although I find the past data from the EIA very reliable, their forecasts are out to lunch in some cases. Let us all hope they are right this time around given CA. and HI. are already well into the $3.00 range and everywhere else is starting to bump up into that area?

Cheaper gas seen in 2007.

Government sees lower prices peaking sooner than last year; predicts national average high of $2.87 a gallon. (http://money.cnn.com/2007/04/10/news/economy/eia_fuels/index.htm?postversion=2007041012)

http://www.cleanmpg.com/photos/data/501/3_00_Gasoline.jpgSteve Hargreaves - CNNMoney.com - April 10, 2007

NEW YORK - Gasoline prices are expected to peak earlier and about 11 cents lower this year compared to 2006, the government said Tuesday.

In its annual summer fuels outlook, the Energy Information Administration said nationwide average regular gasoline prices are expected to top out at $2.87 per gallon in May, compared with $2.98 per gallon seen last July.

"Although gasoline prices began their seasonal increase about a month earlier than usual, the rapid rate of price increase is projected to slow over the next few months." EIA said in its report.

Gasoline is expected to average about $2.81 a gallon this summer, down slightly from $2.84 in 2006, the EIA report said.

EIA's estimate is only seven cents higher than the average price of gasoline now, as reported by the motorist organization AAA. In many states the price of regular is already over $3 a gallon.

EIA said unexpected refinery maintenance this year eroded supplies and caused gasoline prices to spike sooner than usual.

Passing the buck on fuel economy (http://money.cnn.com/2007/04/09/autos/pluggedin_taylor_fueleconomy.fortune/index.htm)

Gasoline prices have risen for the last 10 weeks straight and are now 20 percent higher since the start of the year.

Strong demand, refinery problems, the looming summer driving season, and declining supplies as refiners switch to cleaner burning summer blends have all been cited as reasons for the runup.

Crude oil prices, which account for about half the price of a gallon of gas, have also risen over the past few weeks, pushed higher mainly by political tensions with Iran.

Last year nationwide average gasoline prices fell just shy of the all time, non-inflation adjusted record of $3.06 a gallon set in September 2005 following Hurricane Katrina, according to AAA.

Adjusted for inflation, gasoline hit a peak of around $3.15 a gallon in early 1980, following the second Arab oil embargo and the Iranian revolution.

Yet people also 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 … [read more (http://money.cnn.com/2007/04/10/news/economy/eia_fuels/index.htm?postversion=2007041012)]

___Good Luck

___Wayne

I had to go with 4.00+. Supply is tight and unstable, after last summer a spike above 3.00 won't cut demand nearly as much (demand elasticity has fallen, if I remember my economics terms right ;)), and a "very active" (http://www.msnbc.msn.com/id/17928737/) hurricane season may be in store. A few supply disruptions (or even scares thereof) and 4.00+ is likely.

___I voted for $4.00 +. Another Iranian incursion (sure is nice to be able to pick up some sailors and get a wonderful 5% raise - take that one any way you want too :D) or heaven forbid a hurricane or two. And of course the ever present BP, Exxon/Mobil, Chevron refinery outage or explosion at the most impromptu times … I hope none are the case and we see a top out just about where we are today. We are just now touching $2.90 in the Chicago area and it is a bit tough to swallow. It should however make others think a bit harder about where our fuel comes from, what we are doing by emitting its effluent, and all the other consequences of using this limited natural resource.

___Wayne

You guys with cheap gas are SO lucky. I just filed Little Red yesterday, $3.29 per at the cheap place.
Oh yeah, W is just itching to invade Iran and they won't shut up anytime soon.
And you can count on one of the refineries blowin (they are probably in a meeting right now deciding who's will blow this year or at least go down for "maintanance").
Gary

Frustratingly, I had to go with $4.00. It's already near $3.50 in L.A., and it's only April. (I'm sort of secretly hoping for another oil crisis that will force auto manufacturers to bring more FE cars to the US... and convince consumers to purchase them!)

Hope to be wrong, but finally said it could go over $4.00.

$4.00 or better is a given if anything burps up out of the ordinary. I think the ave. in Tulsa was $2.69 yesterday. I wish I had a gas station close so I could set on my front porch,, drink beer and watch the full time SUV and pickup drivers fill up. There so funny. :)

psy

Hi Psy:
I think the ave. in Tulsa was $2.69 yesterday. I wish I had a gas station close so I could set on my front porch, drink beer and watch the full time SUV and pickup drivers fill up. There so funny. :)

psy___You darn near created a new spectator sport with that one :D :D :D

___Good Luck

___Wayne

NJ - last time I paid it was $2.58 That was a week or so.

We should be lucky we don't live in other parts of the world


http://www.msnbc.msn.com/id/12452503/

It's $2.94 in my neck o' the woods.

I believe just hitting roughly $3.50 / gallon would make inflation-adjusted gas prices at their highest level in 100 years............higher than '73, '79, '91, '05.

I'm always concerned about oil producers turning on the spigots at the last minute like a dealer giving out just enough free junk to keep his buyers addicted. See OPEC in the early 80s & late 90s. But that may not be the tool it once was.

Just paid $3.30 which is at the low end compared to most places in LA.

I'm quite certain that premium, and gas in certain areas like Beverly Hills will hit $4 this year.

I voted for $3.60. It's $2.899 here in Elkhart, IN.

2.85 here just south of Houston.kevin

It's also 2.85 in Lewisville, just north of Dallas.

i filled at 3.14 yesterday (only 4-1/2 gallons). today that same station is 3.03, at least this morning. this weekend is the fishing opener and the town i work in is kind of a halfway stop for people "going up north" from minneapolis, so the stations here have a captive audience.

$3.19 per. gallon in Tulsa today. Ive heard it could go up another .40 cent this week...

psy

Hit $3.499 in Elk Grove IL this afternoon, was $3.229 this morning

Jumped from 3.19 to 3.29 here last Friday.

After a week or so of a plateau around 3.10, the relentless rise (http://madisongasprices.com/retail_price_chart.aspx) continues.

Hi All:

___I saw $3.49 in Gurnee, IL. this afternoon too. And I have a 19 gallon fill tomorrow :eek:

___Good Luck

___Wayne

$3/gal finally broken down in cheapo Texas.

Brick, I don't know off hand what kind of Strom Thurmond memorial ExxonMobil subsidy is going on down there in Columbia, but looks like your fillups are gonna be cheaper than anybody's:

http://www.gasbuddy.com/gb_gastemperaturemap.aspx

It's still hanging at $3.39 near my house. But most places are $3.45 - $3.65.

Yeah, I've noticed that about SC. I think it has something to do with the fuel tax being very low. They also run straight gas, eliminating the added expense of trucking in ethanol.

Still hasn't hit Katrina/Rita Prices here in Houston.

http://www.houstongasprices.com/retail_price_chart.aspx (select 2 year view)

Most of that was localized to the evacuation area, but it hit $6.00 / gal that day at a BP station. Think the owner was later brought up on charges for gouging in a disaster.

Can we apply that law to the CEOs?

http://www.houstongasprices.com/retail_price_chart.aspx

Glad I don't live in San Francisco ...shudder.

http://news.yahoo.com/photo/070510/480/e40d7495b8bf4846aaed7db81fd3db3b;_ylt=Av_GfzVCAwXCnyLiZy1vMFwEtbAF

Glad I don't live in San Francisco ...shudder.

http://news.yahoo.com/photo/070510/480/e40d7495b8bf4846aaed7db81fd3db3b;_ylt=Av_GfzVCAwXCnyLiZy1vMFwEtbAF

I like to think the police in the picture are to keep people from rioting at the pumps.

Ohh.... interesting thing I noticed at the pump... They won't let you fill up large SUVs on credit anymore...

Started separate thread to keep from going OT too much ;)

11011011

I've noticed a funny thing happening in the last week. I've seen a lot of activity on the [infinitely worthless] GB forums from Europeans who pop in to beat up on people who complain about "outrageous" US gas prices. It's mildly amusing because somebody will post a thread like "PRICES R OUTRAGEOUS MUST PROTEST $3.50!!!" and then some German dude shows up with a copy of his gas receipt for 50-60 euro to fill his diesel Passat. Then the argument breaks out over how that doesn't count because they add a 3 euro tax, and they have busses, and they have more efficient cars, and...and...and then somebody's head explodes because we really have some of the cheapest fuel in the West.

Just went up here $.09 cents overnight.

87 Octane is now $2.959

Terry (tiger)

Sounds like gas prices are just warming up in SF

http://www.latimes.com/news/opinion/la-oe-court14may14,0,991123.story?coll=la-opinion-rightrail

WHO'S AFRAID of Big Oil? Apparently, California's elected officials. Gasoline prices are stuck well above last year's record highs and about 50 cents above the national average. Yet state politicians are not saying or doing a thing, except for raking in political cash from the oil companies and flying around the world on their dime.

Like power plant owners during California's 2001 electricity crisis, refiners such as Chevron have discovered that they can make more money by producing less gasoline. So they do. They have, over more than 20 years, deliberately reduced their capacity until they can barely meet California's needs under the best of circumstances. Industry spokesmen defend this as efficiency. But there is no slack in the production system, which shorts the market and raises prices.

Chevron refined 22% less oil in the U.S. during the first quarter of this year than in the same quarter of 2006 because of longer "planned maintenance" downtime and accidents. Yet its total profit on U.S. refining increased 66%. Making less gasoline, it made much more money.

So why is there no special legislative session on the gasoline crisis? No talk of regulating refiners to make supply meet demand?

Oil companies poured $90 million into California political campaigns during the 2006 election cycle. This display of sheer political muscle deters even well-meaning politicians from clashing with Big Oil.

Democrats take Big Oil's millions too. The state Democratic Party accepted $50,000 from Chevron just last week. Campaign finance rules don't tell us which candidates Chevron might find most deserving of that money, but it's foolish to think such suggestions are not made.

No matter what underlies the current inaction on gas prices, the governor and legislators should understand that consumers' rage may not be fleeting. Former Gov. Gray Davis discovered that in the 2003 recall as the energy crisis lingered in memory. Schwarzenegger is more popular, but he is not immune to the anger mounting over every $75 fill-up of the minivan.

I just hope Arnold's not considering any Texas-style gas tax holiday. Are you Arnold? :D

Sounds like gas prices are just warming up in SF

http://www.latimes.com/news/opinion/la-oe-court14may14,0,991123.story?coll=la-opinion-rightrail



I just hope Arnold's not considering any Texas-style gas tax holiday. Are you Arnold? :D

Would I lie to you?

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