"Survey (Lundberg) : Gasoline prices surge 17 cents"

[TexasLawyer]

Ms. Lundberg opines: "The end of the price run-up at the pump, I believe, is very near." Any thoughts on this?

Survey: Gasoline prices surge 17 cents
Lundberg says national average rises to $2.67 a gallon, but price run-up may be ending.
April 9, 2006: 4:37 PM EDT

ATLANTA (CNN) - Gas prices shot up another 17 cents per gallon over the past two weeks to a national average of $2.67, a survey said Sunday. Since Feb. 24, the average price of a gallon of self-serve unleaded has risen 42 cents, said Trilby Lundberg, publisher of the Lundberg Survey, which tallied prices March 24 and April 7 for its latest survey.

"Some of the pump price surge comes from higher crude-oil prices, but most is the new fuel specifications resulting from energy-bill provisions and EPA regulations," she told CNN. Work to complete repair of damage to refineries caused by last year's hurricanes and the work needed to comply with the 2006 fuel requirements "is more costly and more complex than what is usually required," she said.

That work is taking some of the nation's refining capacity, and therefore its gasoline production, off line, she said. But, assuming no further crude-oil price jumps or any emergency affecting refining capacity, gasoline supplies should swell and prices should drop soon, she said.

"The end of the price run-up at the pump, I believe, is very near."

<snip>

http://money.cnn.com/2006/04/09/news/economy/oil_gasprices/index.htm

[marmar]

1. It could be an ugly summer at the pump...

I might buy a bike and commute Amsterdam-style.

[saddemocrat]

2. WE

do this all summer usually. It's fun for the kids and it's great exercise. We try and use our vehicles as little as possible during the nice months.

[dchill]

3. Thanks, Trilby,

I hadn't noticed. Surged, huh? Go figure.

[TexasLawyer]

4. Bodman: Brace for summer gas pains

The article posted just underneath the Lundberg survey article on CNN says prices are going to continue to go up.

And if the US attacks Iran, we ain't seen nothing yet.

Bodman: Brace for summer gas pains
Energy Secretary says there could be some shortages or price spikes coming soon.
April 7, 2006: 6:08 PM EDT

BATAVIA, Ill. (Reuters) - Consumers may face gasoline shortages or price hikes at the pump this summer due to fuel additive changes at refineries and a likely strong hurricane season, Energy Secretary Samuel Bodman said Friday.

"We face a combination of factors that could mean some localized shortages," Bodman said in an interview with Reuters, adding that the markets should sort themselves out quickly.

Bodman spoke with Reuters during a visit to Fermilab, the largest U.S. laboratory for studying particle physics, which is located in Batavia, Ill.

Bodman said with U.S. refineries running at 86 percent capacity following the battering they received from hurricanes Katrina and Rita last year, high crude oil prices and an annual U.S. shift to summer gasoline, the switch by refineries to ethanol as a fuel additive from MTBE could result in shortages in some areas this summer.

<snip>

[Name removed]

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[area51]

14. Welcome to DU, Roy Biggins. (n/t)

[Delphinus]

18. Good question Roy Biggins,

I was thinking that myself this morning, during quiet time, about how little I live on and how much harder it's getting to simply live. Not an awful lot of places for me to cut back - it's Monday and I'll not put in the next statement that just came to mind!

Welcome to DU!

[Catshrink]

6. Are you sure one of the oil CEOs doesn't need a new yacht?

Pardon my cynicism, but their record profits piss me off.

[BattyDem]

7. Just in time for summer!

:eyes: :grr:

[TexasLawyer]

8. 42.4 cents/gallon in 6 weeks

"In the past six weeks, prices have surged about 42.4 cents per gallon."

http://msnbc.msn.com/id/12240620/

Prices are WAY up over the last 3 years:

[Hoooweee]

9. should work as a good talking point all summer

in the run-up to the mid-terms.

The ethanol excuse is bullshit. They've had years to prepare. They just wanted to wait until the last second to create an excuse to raise prices. This sort of spike, coupled with the usual summer driving demand, will create more than enough revenue to compensate for the added costs. ExxonMobil's goal isn't so much to not comply, but to minimally comply while continuing their streak of record profits. There is no other way to do that than force the consumer to carry the burden.

[cantstandbush]

10. Forget immigration. This is what folks should march on Washington about.

The oil CEOs have told Congress and the American people to kiss their collective asses and all we and Congress have done is say "pull down your pants."

[Media_Lies_Daily]

11. $2.89 a gallon here in Huntsville, AL.

[Renew Deal]

12. 92 octane is over $3. again.

And why? I don't know.

[lovuian]

13. 2:73 in Houston ... its really ugly

when it gets up to $3.00 you can hear the truck drivers cussing at the pump...

[pinniped]

15. Does anyone know what happened to that idiot's big energy....

announcement that was going to startle Merkans?

[Hekate]

16. It's $2.95/gal. for regular in Santa Barbara, where we always get gouged

We think the oil companies have it in for us here because we keep attempting to regulate how they drill and ship along the coast. Drive 40 miles in either direction and prices drop by at least 10¢.

I think prices will keep going up -- they may bounce down a little on their way, but they'll basically go up. I don't think the oil companies have seen a single incentive or penalty that will make them change their ways before the last drop of oil is sucked from the earth. Dubya is an oilman born and bred, and he won't do anything to hurt his old friends.

Hekate

[Delphinus]

17. Last Thursday,

our gas prices shot up from a relatively stable $2.59 per gallon to $2.77. The stupid newsreader said in the local evening report, "gas prices inched up". I wanted to reach through the TV and slap her.

[BiggJawn]

19. Why do they even bother reporting this?

Like most of us Working Poor aren't already intimately aware of how gas prices are going up and down faster than a highschool kid's ass after Prom?

I don't wanna hear about how fucking expensive it is to comply with regulations and rebuild infrastructure from an industry that posts $14,000,000,000 profits every QUARTER!

Fuckers are just fucking us while the fucking's good.

$48 in the Commute-O-Mobile this week. $13 just to fill the can for another exciting season of lawn-mowing, and THAT won't last beyond Memorial Day!