Posted on 08/31/2005 3:40:25 PM PDT by jb6
OIl traders shrugged off Bush's petroleum reserve announcement. Prices in Washington surged to as much as $3.15 a gallon.
By Kevin G. Hall
Knight Ridder Washington Bureau
WASHINGTON - Gasoline prices in many U.S. cities spiked past the all-time highs set in 1981 and no relief for motorists as oil traders largely shrugged off the Bush administration's Wednesday announcement that it was releasing supply from the Strategic Petroleum Reserve.
Just a day earlier, analysts had predicted that prices could climb to record levels by Labor Day weekend in the wake of Hurricane Katrina. But it happened by midday Wednesday. Gas stations in and around the nation's capital surged to $3.15 a gallon at some stations. They rose similarly in many populated urban centers across the nation, and passed the inflation-adjusted high of $3.11 set in March 1981.
At the Darnestown Road Shell station in Gaithersburg, Md., a gallon of gasoline cost $2.85 in the morning. Before 3 p.m. had climbed to $3.20.
"Motorists are just mad in general," said a service station employee.
Pump prices soared just as Energy Secretary Samuel Bodman said Wednesday on CNBC television that a decision had been made to release crude oil from the Strategic Petroleum Reserve, where more than 700 million barrels of crude oil are stored in caverns for emergency use. Three Gulf Coast had asked collectively for more than 1.5 million barrels of crude oil to make gasoline.
(Excerpt) Read more at mercurynews.com ...
It's insane. I feel like I'm filling up an 18-wheeler. And I drive a CAR not an SUV...
It could be worse. We could have NO gas.
It could be worse. We could have NO gas.
We filled up on Sunday. I estimate the next fill-up to cost about $10 more. We go to work and back. If errands are needed they are well-planned and combined. I wouldn't dream of taking a road trip at this time. If we had travel plans for this weekend, they'd be cancelled.
I just filled up at $4.09 in Atlanta. Filled up my motorcycle and jerry cans too.
I just got home from work. $3.18 here. Thank goodness I filled up last night for the paltry price point of $2.79.
You can thank your local neighborhood envirowhacko democrat for the years of obstruction to the energy industry.
Pacifist Northwest is on notice to expect a $. 50 rise in the price of gas immediately. That would put us in the $3.25 range.
The price is going to be whatever the market decides it will bear...
I just paid 2.79 up from 2.49 this morning. The station was orderly but packed. You could smell panic in the air. Central Al.
46.00 topped off the tank.
Hopefully the waiver of special blends of gasoline will help in the short term.
I'd LOVE to see 3.15 a gallon. Georgians are being GAUGED. Some stations are charging 4.99 a gallon, yes you did see correctly. Of course they blame it on a 'hoax' of a gas shortage in Atlanta, but that wasn't a 'hoax' unless you count the freaking article in the Atlanta Journal and Constitution stating that there would be a gas supply run out. Of course you'll never get that irresponsible rag to admit to any wrongdoing or wrong reporting.
There is no gas in my small town either. Gas stations are ghost towns with baggies on the pumps. People swarmed them. One station made customers STOP pumping gas so they could increase the price.
Well that does it, I'm trading in the ol' yard machine lawn mower for a goat! I can't afford to put gas in both my car and my lawn mower!
And you can milk the goat.
The Jeep was nearly empty last night, it took $63 to fill. It will be down to half by Sunday with normal driving. I can expect, now, to spend around $80 a week for transportation.
There is sure to be a 2006 recession. It even appears as though the traffic is lighter where I live, the past 2-3 days. People are curbing their spending and staying home. This will have a large, long term, negative impact on the economy.
Great! Less traffic...time is money, you know!
suddenly the US experience European gas prices...
Maybe this will be the least traveled Labor Day Weekend. We have plans to stay home.
Yeah but much of Europe's gas prices goes to subsidize the mass transit...ooops, we don't really have mass transit.
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