Posted on 01/10/2012 10:05:53 AM PST by freespirited
Gas prices are continuing to move upward with a gallon of regular at $3.38, up 8 cents from a week ago, the Energy Department’s U.S. Energy Information Administration said today.
The weekly national average increased almost 30 cents from a year ago, and rose for the third consecutive week, adding to predictions that 2012 might be an uncomfortably expensive year for drivers across the country.
Last year was a record year for gas prices but 2012 is forecasted to surpass its annual average. The real annual average for a gallon of regular gas last year hit $3.56, up from $2.90 in 2010, according to the EIA. From its data that begins in 1919, the previous record high was in 1981, at $3.45.
Patrick DeHaan, GasBuddy’s senior petroleum analyst, forecasts that by Memorial Day, the national average will range between $3.86 and $4.13 per gallon. He also predicts that prices in 2012 will come close to or set new all-time highs. If prices soar this year, drivers could spend $200 to $300 more for gas in 2012.
Oil prices, after initially spiking this month because of concerns about Iran’s threat to block exports from the Persian Gulf, fell today, the Associated Press reported. Analysts from Morgan Stanley reported oil producers can bypass the Strait of Hormuz, which Iran has threatened to block if countries interfere with its nuclear program.
(Excerpt) Read more at abcnews.go.com ...
Awww poo! Happy days are here again, Happy days are here again. Did you see The Batchlor last night? WOW what a show.
I can’t wait till American Idol is back for a new season. Meanwhile I’ll be watching America’s Funniest Home videos.
100 bucks a day when I am working...
Or.. 26,100 dollars worth of gasoline a year.
a small change in fuel costs can save me big over the course of a year.
Look at your graph again
I was doing the 120 mile daily round trip last year. Luckily this year I started a new job that requires only about a 50 mile round trip. Nice timing on my part.
Sorry. Should have been directed to Moleman
It is unpublicized Public Knowlege Tag away.
Isn’t gasoline the USA’s biggest export right now? You’d think if we had all that surplus to export our gas would be cheaper. So ‘they’ answer that it is the global market price that makes our price go up. So if we drilled and got all the oil we needed, our price domestically wouldn’t come down, but would rise to the price countries with no oil would pay? Is that the BS I’m supposed to believe? I smell the light fragrance of a rat.
Someone correct me if I’m wrong but I think natural gas is the biggest export.
whoa...was the self-starter on the floor ?
Thank you so much for the graph. That clears it up!! Cheers
Rush said gasoline... Curious myself.
First they got us used to $2 gas by raising it to $3 and dropping it back, so we were happy to pat $2. Then they got us used to $3 gas the same way. $4 will be the new normal soon.
Thanks
The prices above were shown on SF KTVU this morning. They are blocking the prices of the higher grades which were over $5/gallon.
Remember the hate America Enviros have wanted $5/gallon for gas for years. If our economy was recovering, this will drive a wooden stake into its heart!
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