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Gas Prices Predicted To Be Up 40 Percent This Summer Compared To Last Year
My Fox DC ^

Posted on 04/13/2011 6:16:14 AM PDT by Red in Blue PA

WASHINGTON - Gas prices are going up. And up. And up. And now, the Energy Department predicts the cost of gasoline this summer will be 40 percent more than last year.

In the District of Columbia, the average price of regular unleaded jumped four cents a gallon between Monday and Tuesday.

"I think it's all kind of a farce," says driver Kathryn Abate. "Because the oil prices have gone up a little, but not really to the extent that gas prices have. So it's just like a 'predicting' thing which I think is kind of unfair to consumers."

The experts blame rising gas prices on unrest in the Middle East and a fear factor that goes with it.

(Excerpt) Read more at myfoxdc.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: 7dollargas; debt; default; democrats; doe; domesticoil; drillheredrillnow; drilling; economy; energy; envirofascism; gasprices; manufacturing; obama; trump
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This 40% increase estimate is from the DOE.....meaning it will probably be higher than that!
1 posted on 04/13/2011 6:16:21 AM PDT by Red in Blue PA
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To: Red in Blue PA

Well, since the gas at my local Circle-K is already up roughly 35% (As of last Saturday), this is a pretty safe prediction....


2 posted on 04/13/2011 6:19:49 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Red in Blue PA

Will anyone with a big media megaphone - whether Trump or whomever - please pound home the truth that Obama wants these astronmical prices and that his policies are even more to blame than “circumstances”???


3 posted on 04/13/2011 6:23:15 AM PDT by txrangerette ("...HOLD TO THE TRUTH; SPEAK WITHOUT FEAR." - Glenn Beck)
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To: Red in Blue PA
God willing, a Republican will win the next election. And in 2014, gas will be $2.50 a gallon, unemployment will be 6%, the DJIA will be at 15,000 and the deficit will be perhaps $200B a year -- and the media can tell us that we are in a Second Great Depression, worse even than the one Hoover gave us.

(Note: I don't really expect a huge economic turnaround. I think we are in deep trouble, with no quick fix. But, if a Republican did achieve an economic miracle, the media would call it a Second Great Depression.)

4 posted on 04/13/2011 6:23:59 AM PDT by ClearCase_guy
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To: Red in Blue PA

paid $4.16 for diesel yesterday. That means my fuel surcharge increases. Gotta haul that $7.60 corn to market for you. Expect higher food prices!


5 posted on 04/13/2011 6:24:44 AM PDT by griswold3 (Character is destiny)
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To: Red in Blue PA
And what is the scoundrel-in-chief doing to provide relief of this upward pressure on gas prices? Oh yeah, an R&R trip to Rio.

Worst president ever... Carter looks harmless next to this clown.

6 posted on 04/13/2011 6:25:35 AM PDT by eeriegeno (<p>)
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To: Red in Blue PA

astronmical = astronomical

(sorry, no coffee yet this morning)


7 posted on 04/13/2011 6:26:45 AM PDT by txrangerette ("...HOLD TO THE TRUTH; SPEAK WITHOUT FEAR." - Glenn Beck)
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To: Red in Blue PA

$52 for 13 gallons this morning.


8 posted on 04/13/2011 6:27:09 AM PDT by PogySailor (The ruling class will not go down easily. And neither will their paid hacks.)
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To: Red in Blue PA
The experts blame rising gas prices on unrest in the Middle East and a fear factor that goes with it.

Yea, well this expert blames Obama, Democrats, Repubrinos, and Ecowacks.

There doing this on purpose just like everything they do.
9 posted on 04/13/2011 6:28:11 AM PDT by VastRWCon (Taxed to Death)
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To: Red in Blue PA

This will really make retail sales soar! It’s a great day for Obama. Time to raise taxes! Go big 0! (sarc)

http://www.freerepublic.com/focus/f-news/2704017/posts


10 posted on 04/13/2011 6:37:13 AM PDT by MulberryDraw
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To: VastRWCon

I sincerely hope those “experts” are being selectively quoted because if they leave out the current government’s war on domestic oil production, they are certainly NOT experts.


11 posted on 04/13/2011 6:37:22 AM PDT by FourPeas
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To: PogySailor
$3.75 to $3.90 at various station on my work commute yesterday.

I ask people "if $2.75 gas was Bush's fault,isn't $3.75 gas obama's fault?" No one answers.

12 posted on 04/13/2011 6:42:39 AM PDT by hoosierham (Waddaya mean Freedom isn't free ?;will you take a credit card?)
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To: griswold3
"...Expect higher food prices!..."

Expect higher (insert product here) prices!
13 posted on 04/13/2011 6:42:59 AM PDT by NCC-1701 (In Memphis on January 20, 2009, pump price were $1.49. We all know what happened after that.)
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To: Red in Blue PA

In 2008,the lefties in Austin I know were screaming that Bush’s greedy oil company cronies are to blame for rising gas prices.

In 2011, these same lefties are eerily quiet.


14 posted on 04/13/2011 6:43:16 AM PDT by Le Chien Rouge
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To: Red in Blue PA

I paid $3.98 per gallon (89 Octane) yesterday at a 7-11 here in the D.C. suburbs. I can definitely see how $5 per gallon is within reach.


15 posted on 04/13/2011 6:46:43 AM PDT by Lysandru
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To: Red in Blue PA

Bush’s fault.


16 posted on 04/13/2011 6:48:19 AM PDT by Hoodat (Yet in all these things we are more than conquerors through Him who loved us. - (Rom 8:37))
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To: Red in Blue PA
The experts blame rising gas prices on unrest in the Middle East

That's good to know. For a minute there, I was going to blame it on curtailing Gulf drilling, no ANWR drilling, no new pipelines, very few new oil drilling leases anywhere, new new refineries in 30+ years, while telling the Brazilians we would buy everything they could drill. Can I presume that if I were to make that accusation, that I'd be racist?

17 posted on 04/13/2011 6:48:33 AM PDT by C210N (0bama, Making the US safe for Global Marxism)
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To: Red in Blue PA

In 2008...what was the price of oil compared to the price of gas?

July 2008 crude oil was $137.11 and gas prices were about this high. http://dow-futures.net/historical-crude-oil-prices-history-2008/

So oil is now just a little over $100...and gas prices are this high?

Where’s all the screaming and yelling today about the speculators or are we just supposed to wave our hands and call it inflation? Where is all this profit taking and looting going?


18 posted on 04/13/2011 6:53:19 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: Red in Blue PA

So many people didn’t think foreign policy experience mattered


19 posted on 04/13/2011 6:54:15 AM PDT by MNDude (so that's what they meant by Carter's second term)
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To: Le Chien Rouge
In 2011, these same lefties are eerily quiet.

That's just it, isn't it. The quiet from the left this time and crude prices are nowhere near the $137@barrel they were in 2008.

What's going on here?

20 posted on 04/13/2011 6:56:44 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: Lysandru

Gas is $4.00 a gallon here in Indy now. Up a penny, down a penny. It is now $4.00.

Where are the pubbies out in front of the mics?

Dumbarses they are.


21 posted on 04/13/2011 6:58:15 AM PDT by dforest
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To: Red in Blue PA

Close to a break even for me- traded in the beloved but gas guzzling Jeep for a four-banger Ford Escape.


22 posted on 04/13/2011 6:58:37 AM PDT by JimRed (Excising a cancer before it kills us waters the Tree of Liberty! TERM LIMITS, NOW AND FOREVER!)
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To: MulberryDraw
This will really make retail sales soar!

LOL. I can already see the headline:

"Consumer spending rises to highest level in 2 years, indicating some growth in the sluggish economy"

23 posted on 04/13/2011 6:59:51 AM PDT by Right Brother
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To: EBH
Anyone know if we are at the point where refineries are switching their seasonal blends? Maybe some are offline or running diminished as this work is taking place??

/shot in the dark..

24 posted on 04/13/2011 7:01:30 AM PDT by Michael Barnes
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To: Red in Blue PA

I have a bet with someone at the office that it hits $6 by Labor Day. As soon as it hits the fan in the mid-east I (I refer to the next Israeli-Arab war, or Iran starting to throw its weight around, not the Libya-type sideshows)it’ll shoot up.


25 posted on 04/13/2011 7:03:47 AM PDT by wny
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To: EBH
Keep in mind that unlike 2008, the commonly quoted “oil price” is about $10 below the normal difference in global market oil price.

When the media reports oil price in the US, they use the price for WTI deliveried to Cushing, OK. That is done because it is the basis for the NYSE commodities oil price for next month.

Cushing is having a surplus of oil due to larger domestic production around the Permian basin and some other factors. Where the WTI price has normally been a premium to our imported oil price, it is now trading at a discount.

But that doesn't change the fact that most of the oil we use in the US is imported. So most of our Gasoline is from the higher priced oil than that quoted in the media.

If you look at the following two source of data you can see this switch. The latest average cost of domestic oil is a few dollars cheaper than our average imported price. Back in July of 2008 the imported price was several dollars less.

U.S. Crude Oil Domestic Acquisition Cost by Refiners
http://eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=R1200____3&f=M

U.S. Crude Oil Imported Acquisition Cost by Refiners
http://eia.doe.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=R1300____3&f=M

So the price of oil that is quoted by the media represents a minority of the oil that is actually processed in this county. And since 2008, the ratio of domestic oil versus imported oil has raised which compounds that difference.

26 posted on 04/13/2011 7:11:59 AM PDT by thackney (life is fragile, handle with prayer (biblein90days.org))
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To: Red in Blue PA

well, with crude oil tanking this morning after Goldman Sachs’ report on severe over-supply yesterday, it is likely that gas prices will now decline...usually about a 2 week delay in it hitting the gas pumps.

and the oversupply is not due to having too much productive capacity...the oversupply of crude oil is due to demand destruction...


27 posted on 04/13/2011 7:14:06 AM PDT by stefanbatory (Insert witty tagline here)
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To: stefanbatory

” it is likely that gas prices will now decline...usually about a 2 week delay in it hitting the gas pumps “

Yeah - the customary 5-cent decline after a $1 runup - and we’re supposed to be grateful...


28 posted on 04/13/2011 7:17:21 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Uncle Ike

word was this morning that the crude bubble pop was gonna be so severe that they were gonna halt trading...likely more than a nickel a gallon at the pump...


29 posted on 04/13/2011 7:22:32 AM PDT by stefanbatory (Insert witty tagline here)
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To: griswold3

Yes, exactly...this isnt about having the latest boutique green car its about inflation at a pace not seen in some time. It seems the left is oblivious to the consequences of their silly pseudo-scientific eco agenda and kindergarten economic theories. One things for certain, we’ll all have front row seats to the eventual failure of the lefts sacred cows.


30 posted on 04/13/2011 7:24:32 AM PDT by 556x45
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To: Red in Blue PA
Let me be the first to say...

BUSH'S FAULT!

31 posted on 04/13/2011 7:26:59 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: Red in Blue PA

My magic eight ball predicts lower gas prices a few weeks before the next election cycle.


32 posted on 04/13/2011 7:27:33 AM PDT by Bringbackthedraft (The storm clouds of war are on the horizon, 1939 is again approaching us.)
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To: 556x45

This week Sen. Frank Lautenberg (D-NJ) delivered the Democratic radio address. Lautenberg placed the blame for the high prices of gasoline and oil firmly at the feet of George W. Bush and the Republican Party.

“This week, the price of oil and gasoline both hit new record highs – almost $120 for a barrel of oil and more than $3.50 a gallon for gas. These out-of-control prices mean that hundreds of thousands of Americans are driving to work and spending too much of their day just earning back the cost of their commute. The American people deserve to know why this happened,” Lautenberg said.

He blamed the Bush/Cheney energy policy, “When President Bush took office, gas prices were less than half of what they are today – and oil was less than one-third. Then, seven years ago, President Bush and Vice President Cheney secretly invited executives from the big oil and big energy companies to the White House to write our national energy policy. When we finally uncovered the truth, we discovered – to no surprise – that Big Oil helped write a law that guaranteed them billions and billions of dollars in tax giveaways while they set in motion disastrous economic and environmental policies that have served no one but themselves.”

LOL where is the press? Only one I see is Donald Trump


33 posted on 04/13/2011 7:29:48 AM PDT by scooby321
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To: EBH
What's going on here?

What's going on is...The Obama administration wants to purposely have the gasoline prices raised, the cost of living go up, etc. because campaigning is going to start. And then...when all He** breaks in the country Obama will do something so that he can look like the "savior" they say he is so he gets re-elected by the fools who believed in him the first time around. The Obama string pullers, Dems, and Libs in power create problems just so they can solve them later and then claim they have rescued us. It's political psychology and that's their plan.

34 posted on 04/13/2011 7:32:50 AM PDT by CitizenM (If we ever forget that we're one nation under GOD, then we will be a nation gone under.-Ronald Re)
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To: hoosierham
I ask people "if $2.75 gas was Bush's fault,isn't $3.75 gas obama's fault?" No one answers.

I was filling up at my usual station a couple of weeks ago and the gal at the next pump was muttering "f'n obama and the democrats" under her breath.

35 posted on 04/13/2011 7:33:12 AM PDT by Arrowhead1952 (TX and MI - When the going gets tough, the dims run and hide.)
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To: Red in Blue PA

They’ll still line up to vote for Obama in 2012 ...


36 posted on 04/13/2011 7:34:03 AM PDT by Scythian
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To: scooby321

Ah yes, a trads view of the world, simplicity itself. Im sure Ben’s over heated printing presses have nothing to do w/ the price of oil.


37 posted on 04/13/2011 7:36:06 AM PDT by 556x45
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To: unixfox
Let me be the first to say...

Nope, you are about 15 replies too late.

38 posted on 04/13/2011 7:36:24 AM PDT by Arrowhead1952 (TX and MI - When the going gets tough, the dims run and hide.)
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To: Arrowhead1952
I was filling up at my usual station a couple of weeks ago and the gal at the next pump was muttering "f'n obama and the democrats" under her breath.

We need those little FUBO stickers to put on the pumps.

39 posted on 04/13/2011 7:40:46 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: Red in Blue PA

It’s all because of Obama’s Haliburton buddies.


40 posted on 04/13/2011 7:42:08 AM PDT by Lucas McCain
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To: Red in Blue PA
The One Campaign Promise Obama Has Kept
41 posted on 04/13/2011 7:45:19 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: Bringbackthedraft

My magic eight ball predicts lower gas prices a few weeks before the next election cycle.


In other words, it will go from $5.79 to $5.62 ?

It won’t help the Rats.


42 posted on 04/13/2011 7:50:43 AM PDT by unkus
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To: Le Chien Rouge
In 2008,the lefties in Austin I know were screaming that Bush’s greedy oil company cronies are to blame for rising gas prices.

In 2011, these same lefties are eerily quiet.

Same with the libtards here in CA.

I guess when you don't have the media beating the drum the sheeple on the left are too stupid to realize they are screwed.

43 posted on 04/13/2011 7:53:42 AM PDT by A message
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To: paulycy
We need those little FUBO stickers to put on the pumps.

That along with a chart indicating how much fuel has gone up under zero's reign. Of course, the station I fill up at is in a very conservative area. I'd just be preaching to the choir.

44 posted on 04/13/2011 7:54:28 AM PDT by Arrowhead1952 (TX and MI - When the going gets tough, the dims run and hide.)
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To: Arrowhead1952
Of course, the station I fill up at is in a very conservative area. I'd just be preaching to the choir.

And the station owner might shoot you for sticking the stuff on his pumps. ;0)

45 posted on 04/13/2011 8:00:08 AM PDT by paulycy (Islamo-Marxism is Evil.)
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To: unkus

There is only one major possible candidate that will run on “Drill baby, DRILL”. All they have to do is convince the public that it will lower the price and create jobs in all sectors. Run Baby Run!


46 posted on 04/13/2011 8:01:28 AM PDT by Bringbackthedraft (The storm clouds of war are on the horizon, 1939 is again approaching us.)
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To: thackney

? Uh ?

I looked at those charts and don’t understand what you are trying to teach me. The first chart has the same price as I quoted in my post for 2008. $137

The second chart is slightly lower, but the price in time is still higher than today’s price. $127

And the gas prices are still higher in comparison to 2008. So I am not seeing where your explanation substantiates today’s price on gas?


47 posted on 04/13/2011 8:05:29 AM PDT by EBH ( Whether you eat your bread or see it vanish into a looter's stomach, is an absolute.)
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To: paulycy
And the station owner might shoot you

The station owner is one of a few that is not from the middle east. They all had Perry for Governor bumper stickers last Nov. The actual owner still has the bottom of the McPain / Palin sticker from 2008 on his bumper.

48 posted on 04/13/2011 8:06:07 AM PDT by Arrowhead1952 (TX and MI - When the going gets tough, the dims run and hide.)
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To: Red in Blue PA

Didn’t read thread to see if this was posted already.

Goldman plays taps for crude rally
The brokerage firm said oil prices could drop as much as $20 a barrel this spring, in a replay of the flight from risk that swept markets last May as Greek finances imploded. It recommended that clients sell crude and some other commodities and wait for lower prices to buy in again.
http://finance.fortune.cnn.com/2011/04/12/goldman-plays-taps-for-crude-rally/


49 posted on 04/13/2011 8:08:19 AM PDT by listenhillary (Social Justice is the epitome of injustice.)
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To: Red in Blue PA
Gas was about $1.80 a gallon when The Usurper-In-Cheif was sworn in January 2009.

It is now more than double that amount and he has been in office less than 27 months.

At the current rate of increase, gasoline will be almost $6.00 a gallon by the time we boot his sorry ass donkey out of our White House.


50 posted on 04/13/2011 8:08:31 AM PDT by Iron Munro ("Our country's founders cherished liberty, not democracy." -- Ron Paul)
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