Experts see no sign of end to gasoline price increases

[Ian David]

Experts see no sign of end to gasoline price increases
Across U.S., consumers feel pinch of supply, demand



By Meredith Cohn
Sun Staff

August 9, 2005

The end of the summer travel season traditionally brings relief at the pump - but don't expect it this year.

"There seems to be no end in sight to high gasoline prices," said Ragina Averella, spokeswoman for AAA Mid-Atlantic.

The average price of a gallon of regular gasoline in the United States hit an all-time high, not adjusted for inflation, of almost $2.37 last week. Average gasoline prices rose almost 8 cents a gallon last week, the U.S. Energy Department reported yesterday, and are up nearly 50 cents since a year ago.



<snip>

"Basically, we're toast this year," said Frederic H. Murphy, professor of management science at Temple University in Philadelphia and an energy expert. "When wholesale crude prices go up, we see it at the pump almost immediately. In the fall, crude prices are going to go up, go down or stay the same. In other words, no one knows. ...


Government and industry experts said yesterday's jump in oil prices resulted from threats of terrorism at U.S. government buildings in Saudi Arabia, the largest producer in the Organization of Petroleum Exporting Countries. The United States closed its embassy in the capital, Riyadh, and other diplomatic locations on the news. The buildings are expected to remain closed today.

Further, with demand so high in the United States, and now China, supplies are barely keeping up with demand.

More:
http://www.baltimoresun.com/news/printedition/bal-te.bz.gas09aug09,1,5330604,print.story?coll=bal-pe-asection&ctrack=1&cset=true

[MADem]

1. I have a GEO that I use as a junk car

Handy for the dump and the beach. If this shit keeps up, I may put more miles on it!!!

[swag]

2. The four strongest holdings in my portfolio are

1. my feet
2. my bike
3. my bus pass
4. my Prius

[justinsb]

3. Of course gas prices aren't coming down

The only way they would is if the US continued to basically steal it and then sell it at artificially low prices. Peak oil is here, and fuel prices are going to go up for a long, long time before they peak and they will never again be as low as they are now.

I only wish I could garner any interest in the issue of peak water, something can still be done about that but based on the interest level in the US I'd say that nothing will be done and 20 years from now the same situation that exists with oil now will exist with water, and only then will people start talking about it seriously. Prepare yourselves for $2-3/gallon water.

[jus_the_facts]

5. Yep.....s'all over but the cryin'......

....great reasons not to keep breeding and compounding these problems as well. :nopity:

[gatorboy]

4. Hey, where did you get that image?

The one with the 101st Fighting Keyboarders...I love that! :D

[Ian David]

6. I got that image at OperatonYellowElepahnt.com

[madrchsod]

7. it`s all alot of bullshit

it`s another enron.....

[Toots]

8. How large were 1st quarter profits for the oil industry again?

Not large enough I guess. Bend over America Bush* is in charge

[wli]

9. how's the used car market look?

I'm thinking of dumping my car.

[cliss]

10. OMG.....those photos.

You're right - gas prices are going only one direction: UP.

I'm absolutely amazed at how many gas-hogs there are out on the road today. My brother in law is going to buy a Ford Expedition, the Worst of the Worst. My own brother just bought a 5th wheel trailer. It must be around 100 feet long....just unbelievable.

Yes, the level of delusion is deep.

What the SUV owners should do is SELL QUICK. Dump it, get rid of it while you can still get money for it.

We are in for a very rough ride.