Sticker Shock-$3 a gallon gas? Click the picture:
Great find Backhoe!
Posted on 08/15/2005 6:06:24 AM PDT by BulletBobCo
CNN) -- Gas prices surged 20 cents over the past three weeks to an all-time high of $2.50 per gallon of self-serve regular, according to a national survey.
The price surge "does smash the all-time record high for the third time this year," Trilby Lundberg, publisher of the Lundberg Survey, said Sunday.
"Crude oil has caused this jump at the pump," she said of the survey, taken August 12 at about 7,000 gas stations in every state.
"And even at the current record-breaking pump prices, gasoline demand, while not galloping, is still growing."
Oil prices rose to record highs of $67 a barrel Friday, amid concerns that demand was straining the world's capacity to pump and refine crude oil. (Full story)
Lundberg noted that if the crude oil supply remains undisrupted, "the gasoline price surge itself will probably be ending soon, if it has not already."
"Our demand for gasoline is always highest for June, July and August," she said of the summer months, when families typically take vacations. She said gasoline demand is expected to taper off after August.
(SNIP)
Though a record in absolute terms, the price is still well shy of a record, if adjusted for inflation. The peak price would have been set during the Iranian revolution in March 1981, when a gallon of gas cost about $3 in today's dollars, Lundberg said.
(Excerpt) Read more at cnn.com ...
I find it more scary and sick than sad.
After being a being a member of the NRA for 25 years, I didn't renew my subscription, just to save money I am now spending on fuel. New clothes, going out to dinner, and purchases of anything extra are basically gone, done, over.
And some think this is good? I find that down right depressing and very scary.
Great find Backhoe!
Thanks, Dave.
>> After being a being a member of the NRA for 25 years, I didn't renew my subscription, just to save money I am now spending on fuel. <<
That is indeed scary. I guess the elitists have found a new way to TRY to keep us in line.
FOX DC news now covering a story about Papa John's Pizza feeling the pinch. They are repeating what I stated earlier. The cost of EVERYTHING is going up due to fuel prices.
Went from $2.40 to $2.60 Monday morning in Toledo, and I saw on the stock market report the price of oil per barrel dropped. Explain that one.
only if it results from subsidies. not from relaxed regulations (inhibiting drilling and new refinery construction) and perhaps some tax amnesty to take a bit of the bite out of the price of the fuel...not everyone on FR makes $100k a year...
speculation is one area where regulation may do good--keeping the little man from getting the shaft at the pump.. perhaps legislation similar to sarabanes-oxley...
i can vouch on that. I'm training to be a route manager for a food home delivery service (due to company policy will remain unnamed but its the biggest frozen food home service on the planet) and the guy i have rode along with has seen drops in orders with jumps in the price....
I sure don't, plus I have a single income and 10 mouths to feed. OK my oldest is getting married soon but it still seems like I send a lot of money her way.
I don't see why so many people think "they" want to build more refineries. Why would they, they can maximize profits right now by carefully controlling consumption through price. "Peak Oil" is just around the corner and any new refineries will be a waste at that point. How long does a refinery last? 50 years? We will hit peak oil way before that and yet so many Freepers (not you) delude themselves into thinking enviros have prevented "them" from building these problem solving refineries that make the price of gas fall like a rock. It's just not the case.
Wow! that's beautiful!!!
Are you Satan, temp me by being a sh****** and then sit back and accuse? FOAD I say.
Occam's razor strikes again. I hope the problem is as simple as you state. Cause I'm sick of wondering.
I heard a VERY interesting statistic on NPR yesterday. Demand has indeed risen over the last year - by a whopping 1%. Now, it seems to me that the price has risen FAR more than 1%. So, what else is going on? I believe the answer is speculation in the oil markets.
Okay, we're not that far apart then. At least you are being creative. But how is someone making $8.00 an hour going to pay the "surcharge"? That person can't wait for the gov to reimburse him/her.
And I don't like giving the government my money to 'hold' until they decide to credit back the cash. Governments are always inefficient and almost always screw things up. They probably couldn't run the program you described for less than a billion $.
Amazing how the mediots lie with the magic of the internet search.
I sent that to a local pseudo news outlet and called them liars about their headlines re the highest prices ever.
No response from them as of this morning.
The power of FR's indexing with great Freepers like Backhoe who index articles is flexed again.
I think the key would be reinforcing to people to adjust witholdings - that's how you could avoid having to wait to get your money back at the end of the year.
The problem for the person making $8 an hour would probably be more of a budgeting problem - realizing that they can't go out and immediately spend it....
I'm not saying this is a perfect plan (far from it) - but its my feeble attempt at trying to urge people to do better... (and its pretty democratic, I would think, as it would be based on what the average, middle of the road american did).... Lord knows CAFE hasn't been working (although I believe that's largely because the standards haven't changed since 1978)
Some gas stations put a pie graph on the pump showing the breakdown of costs. Taxes is nearly 50%. There are a lot of steps along the movement of gas (from well to pump) where the gov't taxes the exchange, adding up to a lot.
Now consider that nearly half your income goes to taxes (state, local, etc.): kick around the math a bit, and you'll find it actually works out to you having to earn nearly $5 to buy a little over $1 worth of actual gas - the rest goes to taxes.
Prices are always an excellent indicator for the allocation of resources. Fundamental economics prevail again.
Seldom has so much nonsense been packed in so few words.
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