Here comes $5 per gallon gas

March 29, 2011

As gasoline prices continue to increase, some experts are predicting the price could shoot up to $5 per gallon before the worst is over. [LA Daily News]

The average price of a gallon of self-serve regular rose Monday for the sixth consecutive day.

“We’re talking about five bucks by the end of August, because of the hurricane season. Then it may drop to $3 by the end of the year,” said Bob van der Valk, a pricing analyst for 4Refuel, a fuel management company. “It’s the perfect storm.”

The Auto Club said gas prices generally peak around Memorial Day, hover through summer, then recede in the fall. California refiners are also mandated by law every year to switch over to the more pricey blend of cleaner-burning summer gasoline.

Experts say the sticker shock at the pump is blamed mostly on Wall Street where the worry is constant about Libya and the Middle East.

“It’s creating high anxiety among those who invest in crude oil,” said Marie Montgomery, a spokeswoman for the Auto Club. “This is directly what is causing it.”

n a recent Auto Club survey, 81 percent said they’ve already cut out unnecessary trips. Half said they’re eating out less and 43 percent are spending less on entertainment because they’re having to spend more money for gas.

 

 

 

 


Loading...
SLOChildrenAtPlay

When $4.00 – $5.00 gas happened under George W. Bush, the blame was immediately placed on him and his “greedy oil executive buddies.” People cried foul from sea to shining sea. Today it’s happening again under the watch of black Jimmy Carter, and now we are involved in yet a 3rd war abroad (with more potential foreign conflicts lining up in que behind it). Maybe two years is too soon to expect the “change I could believe in,” but I don’t see it happening two years from now either.


DonQ

n a recent Auto Club survey, 81 percent said they’ve already cut out unnecessary trips. Half said they’re eating out less and 43 percent are spending less on entertainment because they’re having to spend more money for gas.


_____________________________________________________________________________


Proofreading this article may correct this mistake, but the first word in this paragraph i assume should have been ‘In’. i know the danger of assuming, but it seems ironic that “I” wasn’t included.


“I” won’t join a car pool, but “I” will spend less at the In and Out or the Applebees. “I” won’t slow down to 60-65 MPH, but “I” will cut back at Kohls or the Home Depot.


Some of the money we spend on gasoline stays here in USA, but most goes off shore. I realize that I’m tilting at windmills here, but friends, an initial inconvience can become a new routine. Some may argue to drill baby drill, but that won’t help us today.


Best of luck to all of us.


Goyo

The financiers and investors on Wall Street who cry ‘wolf’ at the drop of a hat, and hoard supplies to drive up prices, are doing the same thing to food supplies. This is political capitalism, where the market is not driven by supply and demand, but by throttling supply to increase demand, using money to create distortions that impoverish those with little so that those who’ve got can get.


RayCollins

Come on folks. It’s not all that difficult to peruse of what’s left of the ‘information super highway’ and gather a somewhat cogent result. Unless you’re one of our new idiot elite (corrupt, loyal only to money and power, capable of anything without hesitation) you are flotsam to be motored over. The rich are in control, and we mere consumers are dispensable. It will take a bit longer for the ‘message’ (truth) to sink-in, but, ultimately, those still able to reason, will see a path that mandates an uncomfortable exercise of power. The rich will want to stay in control. To return to having a middle-class will require unpleasantness.


Vagabond

And just like lastime, every gallon that you will buy at that five ducats will have been bought and sold twenty or thirty times on the spot market before you get to fart it out your car’s tailpipe on the way to Wall World.

And preachers of economic theology will bemoan the inevitable purgatory of a free market.

Cause we don’t have the will or cajones to tackle it head on.

Regulate the futures market and require that all natural resources be sold with a value added or huge tax.

In short, divorce our crude from the world market, if it’s pumped here it’s burned here.


Jack L

Between Wall Street causing the fraud, and big oil and their not so transparent tactics, they should be aware at some point SHTF and those in these industries will be front and center of the rage.


rogerfreberg

Let me say this first…. “George Bush did it!” bwah haha!


rallyraid

Van Der Valk calls it “the perfect storm”, who’s he kidding as we all know its the “perfect lie” brought to us compliments of a self serving financial system. Besides Its already $5 per gallon in some of the areas Ive been to in Ca.


danika

Whatever excuse they have to make to force money from our pockets. I find it interesting that, during the entire Gulf oil crisis, the price of gas remained steady. How many millions of barrels where lost at sea? Just sayin…


Side_Show_Bob

And don’t forget it was a War for Oil!


Did we get any of that oil?


Didn’t think so.