Gas Prices have once again gone well over the $4 a gallon mark.
“Gasoline prices continue to be largely influenced by investors’ activity,” said AAA Insurance spokesperson Matt Skryja. “They are looking for any influences, perceived or real, to both supply and demand. These influences impact their buying behavior. Positive economic news tends to inspire investors’ buying, as they anticipate increased demand. The reverse is true with poor economic news.”
Skryja adds both positive and negative economic influences are currently in play. Crude prices, and therefore gas prices, were pressured higher as Greek lawmakers approved austerity measures necessary for the country to receive the second round of bailouts needed to avoid defaulting on its debt obligations. Approval of the measures was considered positive economic news. Prices have also been pressured upwards by tensions with Iran, which have added uncertainty to the future crude supply. Some refineries in the United States and Europe have recently cut gasoline production, which has also pressured prices higher. This cutting back was done in reaction to concerns that consumer demand for gasoline has waning, according to Skryja.
He says one way consumers can reduce the amount of money they spend on fuel is to shop aggressively for the lowest price. AAA offers text alerts via mobile phone for low gas prices in your area. Start saving today at www.aaa.com/gas.
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Just wait until they start with the “Summer Blend” and jack the prices up another 30 cents a gallon just for that. :rolleyes:
$4 a gallon isn’t even the real price – I have seen estimates that once we factor in the cost of the military presence we have to keep in the Middle East to ensure oil supplies are kept safe, military and other costs involved in having to deal with the Middle East because we need them to supply oil along with the subsidizes we provide to oil companies the real cost of a gallon of gas for the average American is over $10 a gallon.
If we want to open more drilling the United States how about we allow oil companies to do that but then require that every drop of it be refined and sold only in the United States at below market prices.
Unless we put those guarantees in place the oil will only go on the open market and other oil producers will simply adjust their output – along with the increasing demand by China and India and prices won’t change at all.
But even that is ultimately a fools game – China and India’s demands for oil is growing quickly (along with plenty of other countries) the amount of oil in the ground is finite and once we hit peak supply, given that we won’t have a Manatthen Type Project around alternatives until we are in serious trouble
This is such BULLSH*T! They will find any excuse to raise prices.
Every year we play this game.. Its called “how far before they break.” The sad part of it is we are the stick and there ain’t no moe room to flex! The easiest way to end this seasonal game for most is to invest in solar and use electric cars for the local drives.
BFF out!
At least they acknowledge this current run up in gas prices is due to speculators (Wall Street!).
Too bad Congress won’t pass a financial transaction tax; it’s the only thing I can see that could quell the “irrational exuberance” of oil futures traders.
Greed runs the oil business. In the state of Texas, they have the Oil Hall of Fame. Former President George Bush is on display!!!!
The vehicles, should be slowly converted to bio-fuels and water!
Go Green Dude!
And don’t forget the ever-increasing “record profits” that the big oil companies announce every quarter or two. “Oh, nooooo, it’s all due to the Middle East or the speculators or the pipeline that went down or whatever.” Never anything to do with them, of course.
I’d bet they could still make a tidy profit *and* leave some money in our pockets, if they were willing to do so.
BEND OVER
Go green Yes, and by the way safeway on CCB has it 3.70 a gal. Try Costco too
You can thank Iran and the State of California for making refineries switch to a summer blend of gasoline.
I don’t hear anything had about Apple raking in billions in profits.. greedy Apple!!!
The USA hit peak oil production in around the 1970′s FYI
This is just the beginning. Obama and his crazed disciples have declared war on your car, your suburban home, your church, your right to bear arms, your way of life.
Big Oil has plenty of co-conspirators in their quest for profits, including environmentalists who are against any new drilling or refining, NIMBYs who don’t want anything yucky in their neighborhoods, and various government agencies who think they can suspend the Law of Supply and Demand. The oil companies love all those government regulations and restrictions that keeps the companies rolling in our money. And California’s requirements for “special” gasoline ensures that the State will continue to pay higher prices.
If you want lower prices, there needs to be more oil AND more competition. But that’s not going to happen, so get used to it.
Gad prices, I believe, are what destroyed the economy in the first place. Gas prices go up, and then food/shipping prices will follow. It makes absolutely no sense that gas prices have gone up as much as they have locally in the last few days. What makes even less sense, is that you can get cheaper gas by going to Walnut Creek.
The President promised higher energy prices and boy has he delivered! Something to think about when you’re pumping those $100 fill-ups.
Something else to remember is that the government makes more $ from taxes on that gas than the company that found, drilled, transported, refined, and sold you that gas will make in profits. Who’s the greedy one again?
As long as I see idiots in their big trucks and SUVS screaming down the road with jack rabbit starts and flooring it to pass others – well, gas is still too cheap.
Big Oil is called Big Oil for a reason – it is all about profits. Cowellian has it right. The changes we all want to see are not going to happen, so get used to it.
Wait, I know. Maybe would could run the car’s on politician’s!
They are full of – - – - / fuel!
At a press event on the payroll tax cut yesterday, President Obama mentioned how extending the proposal would help Americans pay for gas as the price increases. Obama attributed the growing price of oil to a strengthening economy which in turn means demand for oil increases.
Remember, Californa has the highest gas tax $ 0.645 in the US plus federal tax 0.184 per gallon.
http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States
…and for the liberals in clayhood, gas taxes are regressive as they impact lower income greater than higher income.
I have heard that 5% of gasoline refining capacity was taken off line this month early at the same time as all the Iran garbage and speculators like Goldman Sachs barrow money from the Fed for near nothing but homeowners can’t refinance. It doesn’t seem like our leaders are concerned about most of us but that’s just my impression.
I don’t want to get involved in a political discussion. Just wanted to share some info that might help someone.
The new Safeway store on Contra Costa Blvd. in PH had gas for 3.89 a gallon today. That’s with the “Club Card”. There was a long line that snaked around the parking lot. If you don’t mind waiting, it’s the best deal around at the moment.
The President is a Texas Oil Man, just like all his buddies, and his VP was on the Board at Haliburton, this is obviously all his fau….oops, wait a sec….
So now “our leaders” are in charge of maintenance turnaround schedules at US oil refineries?
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