New York Gasoline Soars to a Record: World's Biggest Mover

[sabra]

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aa26nMkVT.jQ&refer=home

New York Gasoline Soars to a Record: World's Biggest Mover
Aug. 31 (Bloomberg) -- Gasoline futures rose as much as 13 percent, the biggest fluctuation of any commodity today, after Hurricane Katrina shut oil refineries near the Gulf of Mexico, raising prospects for $3 a gallon at the pump across the U.S.

...

Gasoline for September delivery rose 25.55 cents, or 10 percent, to $2.73 a gallon as of 12:31 p.m. on the New York Mercantile Exchange. The price reached a record $2.80 a gallon in earlier trading. Futures soared 20 percent yesterday, the biggest single-day increase since the contract began trading in 1984.

Regular-grade gasoline, averaged nationwide, rose 1.5 cents to a record $2.619 a gallon yesterday, according to data released today by the AAA, the nation's largest motoring organization. Pump prices are 41 percent higher than a year ago.


``We're going to be over $4 a gallon retail by the end of next week,'' said William Shireman, executive vice president of Gas City Ltd., a 50-station chain based in Frankfort, Illinois.

[kysrsoze]

1. Gas City....a bunch of bumpkin @ssholes who rape their customers

They are consistently as expensive or more expensive than BP and Shell. Of course gas will be high at their stations.

[sabra]

3. yeah, tears were flowing when he made that statement

tears of joy, that is!

[physioex]

2. Damn....

Glad I drive an economy car. I know those SUV's have 30gal tanks. And at $4/gal, thats $120wk or $480month. That's gotta hurt.......

I can't figure out how these people can afford it, I sure can't....

[Skink]

4. If my gas purchases equaled my monthly rent.....

I'd have to seriously reasses the situation.

[physioex]

5. Yea....

But you know its these damn suburban soccer moms who drive these damn things.....

[dad]

12. Well, excuse some of us for having kids

Jesus Christ, what do you expect us to do, cram them into the glove compartment? Some people need larger cars!

[Zhade]

16. Two words:

Station wagon.

Just sayin'.

[RUMMYisFROSTED]

19. Not to mention...

Virtually every car in America can seat 4.

[physioex]

24. That's right....

You don't need an SUV to carry around a couple of kids. Growing up in the 80's all we had was a mid-sized sedan.

[RUMMYisFROSTED]

26. VW Super Beetle for me and my brother.

The Horror!

[physioex]

22. Give me a break.....

You don't a Ford F950 Super Duty to carry a couple of kids. At the most a Honda Odyssey (with a 4cylinder engine). Anyways your gonna be paying for your SUV, enjoy the bills......

Wait till it hits $4/gal..... :rofl:

[BamaGirl]

25. I put my 3 kids in a Hyundai Elantra

and before that I put them in a Chevy Corsica. Sometimes I even cram in 2 cats and a dog-a britney, who btw ain't small lol. ;)

SUV's really aren't a necessity. Actually, I couldn't afford to feed mine if I drove an SUV. :eyes:

[melody]

13. the problem isn't the moms

The problem is the monsters who created the situation. IMO, we need to focus on the real causes and not the secondary effects.

[recoveringrepublican]

10. Have been wanting to buy a new car for some time now

but financially it was cheaper to drive my SUV, which has been paid off for years, until next year when we could afford it, now I will be paying more than any car payment, so off to the dealerships this weekend.

[Zhade]

17. I hear ya on that.

I drive a V6, which I stupidly bought before I became environmentally- and coming-oil-crash-conscious.

I will NOT take on another car loan - I just paid this thing off in June, and I cannot afford another monthly car payment. I'll give up driving first.

[physioex]

23. Yea......

Try and get something that will save you some gas. It's getting ridiculous out there....

Good Luck

[gasperc]

6. we hit $3.15 here in Detroit for regular

there are a few station's clinging to $2.99 probably till their stock runs low. If there are severe supply problems expect yet another super spike

[toska]

9. Just paid $2.97 in Ann Arbor (Detroit area)

Should have stopped at the station this morning that had it for $2.69. On the way in to work I saw prices ranging from $2.69 to $3.15 and I only go about 10 miles. Topped the tank off at lunch, the highest was up to $3.19 in the area of town that's always cheaper.

[justinsb]

7. It's over $4.50 /gallon

in Toronto - Gas prices aren't coming down folks. It's reality and it's not going to change. It's time to talk about what to do instead, not how to bring down gas prices.

[merwin]

8. $4.50 canadian?

[justinsb]

11. Yeah, that's what we generally use here.

[RUMMYisFROSTED]

20. $3.75 American.

[Hoosier]

30. thanks

Needed that one.

[SOS]

14. Thank you Ronald Reagan!

"President Carter passed CAFE standards in response to the second oil crisis in 1979. Those standards were directed towards getting our country up from 20 to 40 miles per gallon by 1990. Within six years, we had raised average fuel economy by seven-and-a-half miles per gallon. That efficiency caused an oil glut in this country, collapsing the price of gasoline to the lowest levels in decades.

Oil companies went to the Reagan administration and persuaded them to roll back CAFE standards. The Gingrich Congress subsequently made it illegal for the government to pass them. If Reagan hadn't done that we would not have imported one drop of Gulf oil into this country after 1986*." - RFK Jr. 2002

* and the US would have been completely energy independent by 1991.

[RUMMYisFROSTED]

21. Nice Scooby snack.

[despairing optimist]

15. It was over $3 in Manhattan before Katrina hit

But no matter how rich someone is, he/she can't buy what isn't for sale. Look for rationing soon, in home heating oil too. It will be the same for natural gas because about a quarter of US supplies comes from the Gulf.

Jack Frost will be nipping at our noses, and other places, in NYC this winter. Not looking forward to it.

[trogdor]

18. At least you don't live upstate.

Winter is sooooooooooooo going to suck. Brrrrrrrrrrrrrrrrrrr.

[Sacajawea]

27. 24 miles/gallon in a 1991 Acura Integra GS, 5 speed.....

I just checked it this past week. And THIS in a car which hasn't been tuned up in years, and which recently went a year (!!!) without an oil change. Somebody sure knows how to build cars.

[osaMABUSh]

29. are you being sarcastic?

24 mpg for a 5 speed compact is terrible.

I have a Honda with 223K that burns a couple of quarts of oil a month but gets 40 MPG overall

[Sacajawea]

31. No, osaMABUSh, I wasn't being sarcastic.

I actually thought it was pretty good mileage, considering the car has 166K and I (admittedly) don't take care of it.

FWIW...I'm never sarcastic. I'm a straight shooter. I say precisely what I mean. Always.

[osaMABUSh]

28. I think we are in for another recession

We really never recovered fully from the first GW Bush recession. $4 a gallon gas will push us back into a recession.

I say fuck it. If it takes $4 gas and a recession to wake US up to and smell the oil burning, the SUV hogging, and the Saudi $ feeding situation that Bush et al have led us to then so be it.