Skip to comments.$4 Gas Might be Here to Stay (Drill Here, Drill Now And Watch Gas Prices Go Down)
Posted on 05/04/2011 3:39:42 PM PDT by tobyhill
In state after state, stunned drivers are pulling into gas stations advertising $4-per-gallon gas. Five states already have record-high gas prices, and another 22 states are within 15 cents of record prices. Economists say that prices may dip to around $3.25 later this year, but that everyone should start getting used to seeing a new digit on gas station price boards.
The U.S. Department of Energy reported late Monday that gasoline prices at the pump averaged $3.96 a gallon nationwide, up a little over 8 cents from a week ago.
"Nationally, gasoline prices have been above $4 for the last week or so," Jamie Webster, a senior manager with PFC Energy, told ABC News. "I would anticipate that staying above $4 a gallon for gasoline, the national average, is probably going to be the case through Memorial Day, and probably a few weeks after that."
(Excerpt) Read more at abcnews.go.com ...
In the northern CT/western MA area, prices seem to have stabilize in the $3.90 range in MA and around $4.15 in CT. Last I checked crude is down down a hair.
What do you mean by the tearm "stabilized"? Do you mean that gas prices haven't gone up in few days?
because then people will be more accepting of alternative energy, windmills, solar, etc.
Find an alternate energy source that is cheaper than fossil fuel and doesn’t change my lifestyle (i.e. doesn’t make me give up a car, electricity, mass transit, indoor heat etc...) and you can sign me up. Unfortunately, wishing it was so does not make it so. Right now there is simply no replacement for fossil fuel that will provide for what we consider a normal lifestyle.
Things might eventually be o.k. if we settled at ONLY $4/gal. It's goin' waaay above that, folks.
Record high gas?
You’ll get used to it.
Now pay your taxes, your government is broke. :)
$4.55 a gallon here today in the burbs of $hitcago. Pretty soon I’ll only be able to go visit my grandbaby maybe once a week. And be resigned to the cheapo theater for our monthly outing. P’s me off that my extra cash is now going to rich people instead of allowing me to enjoy a little time with my family!@#$
Most stations have had the same prices for the last three to five days, even after deliveries. Compared to a few weeks ago, almost every station increased their prices by 3-5 cents each day or every other day.
1. Fungibility of oil means market prices will be affected by supply and demand. Chinese and Indian demand will suck up any additional supply the US can generate. High oil prices will be around until the countries with a lot of cheap oil still in the ground (ME) produce more.
2. The nominal price of oil is irrelevant economically.
I don’t get the impression that you have a strong grasp of economics based on these comments. Please feel free to disabuse me.
Ah, a voice of sanity...I hope you’re wearing your finest asbestos suit; you may well need it.
Canadian taxes, and taxes on tax, to support their massive failed experiment of nationalized health care?
LOL - yeah, just toss out the statement and ignore the half of it!
The part about supply - It doesn't matter who sucks what, it matters what the supply is, and every single thing that increases supply decreases the price.
High oil prices will be around until the countries with
a lot of cheap oil still in the ground (ME) produce more.
Fixed it. - As if there is a great difference between sweet & heavy crude on the world price. Sheesh!
So Bill, Pal...
Obviously you are quite a brilliant fellow. Would you be so kind as to explain to me how Saudi Crude which costs less than 3$ a barrel to extract is perhaps a bit different from the deep sea or tar sands type that is only viable about $50 or $60 a barrel?
Unless you have taken more than a high school course in economics, perhaps you want to go buy a textbook or something befor engaging in a conversation of this nature.
The reason oil is so expensive is because of the market power of the ME producers. It is not a lack of oil, but rather the ogliopoly of OPEC, led by the Saudis. It is kind of like they have their hands on a special part of our manhood and can twist it at will.