Posted on 03/04/2011 9:42:39 AM PST by Mozilla
Oil prices around the world continued to soar today, buffeted by uncertainty in the Middle East. Crude oil futures hovered above $103 a barrel in New York this morning. In London trading, oil headed for its sixth weekly gain, according to Bloomberg News.
An oil facility in Libya was reportedly damaged and on fire, the Al Jazeera news channel reported today. Meanwhile, demonstrators continued to protest in Saudi Arabia, demanding the release of Shiite prisoners, according to CNN.
In the United States, how much pain at the pump drivers feel may depend on three factors: location, location, and location. In Orlando, Fla., two gas stations that are the closest to the airport, and across the street from each other, are selling regular at $5.29 and $5.19 a gallon.
Overnight the price gasoline went up 17 cents along the New Jersey Turnpike. This morning drivers saw the price jump from $3.08 yesterday to $3.25 today.
After the biggest one-week rise in oil prices in two years, weekly gas prices increased 6 percent this week, according to the Department of Energy. The national average is $3.38 per gallon, an increase of 19 cents over the previous week and 68 cents from the previous year. The average price in California, one of the most expensive states, is $3.72 per gallon. The least expensive gas is in the Rocky Mountain region: $3.18 a gallon.
(Excerpt) Read more at abcnews.go.com ...
I’ll say it again. a presidential candidate that has a plan for cheap energy and can articulate it clearly to the American people, can win on that.
Worry not. Obama the Magic Negro, has a plan.
Obama’s Solution to High Gas Prices: “Inflate Your Tires”.
http://www.youtube.com/watch?v=FOdysANCQUM
Not to worry. The Fed was buying heavily by the end of the day. They can print all the money they want. Of course we have already seen what that does to the price of Oil and commodities.
I agree. People can choose to purchase from this conveniently-located gas station or not. The owner has a prime location by the rental car facility, and it would be socialist to infer that the government should regulate his prices.
Premium here is $3.95/gal...I just used my shopper loyalty card and got 80 cents off/gal. I’m feeling pretty smug about it.... although it’s still to much to pay!
I noticed almost every station had $3.29 in the area NW of Austin. There is one station that has $3.27 as the regular price. Just a few months ago, it was still under $3.00.
The price for the NJ Turnpike is high as well, because they have a captive audience. We normally have among the lowest gasoline costs in the country (to offset the highest property taxes in the country, I guess). If it is a toll road the high price might be the real deal (though I trust your doubts).
I believe on the NJ Turnpike they may only increase the price once a week, so they’re normally lagging (though usually expensive anyway).
3.29 in Xtiansburg, VA (as the libs type it).
Thanks Mozilla.
Planning on making a 1100 mile round trip next week. The “cost” of this trip has gone up around $20 in the past two weeks. Every dime per gallon increase costs me about $5. There will come a time when we’ll all stay home. Then the dominoes start falling.
Drill, baby, drill.
Yeah, I agree. IIRC, oil has been over $100 a barrel before and gas was never this much per gallon.
I wonder if anyone else remembers what it was per gallon last time it was this high for oil.
“There’s NO WAY it’s over $5 in Orlando. That’s a misprint. It’s only $3.50 here in Tampa.”
Nearby airports, it could be that much higher. The alternative it to let the rent car companies charge you $7.00 a galon to refill the cars you return to them!
Primarily by making electric powered cars viable. Oil burning electricity generating plants only produce about 2% of our electricity - no savings there. But if we were to add dozens of new nuclear power plants, we would have the excess supply of electricity needed to make millions of new electric vehicles viable to be used in large urban cities. This does not address the electrical delivery infrastructure, but just the announcement of a new era of nuclear power plant building would be enough for OPEC to see the writing on the wall. This is all in my opinion, of course. If you don't think EVs are viable, then my theory is bunk. I think a large excess of electrical generating capacity would directly point the way to viable EVs.
I don’t see EFV as a meaningful impact in our electric usage. Maybe someday but today cost, range and recharging times make them very limited use.
Nor do I thiink OPEC would react at all on us building nuclear power plants. For the reasons above, they don’t replace our oil.
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