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Last night I drove past the gas station because I was running late and figured I could just fill up this morning. Bad choice. It jumped from $4.09 (for regular) to $4.29 over night :mad:
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the cheapest i've seen in the past few days is what i just paid $3.939
everywhere else is $3.999 |
By the hospital where I work it was
$4.55 regular $4.65 plus $4.75 premium AND that is pretty low for my area! More and more families are struggling to visit their loved ones because of these prices. |
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Boo :( It is now officially $60.63 to fill up a CAVALIER. WTF! |
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Wow, wish Phx was still in the 3 dollar range. I need to fill my car up and the cheapest gas I've found is between $4.09-$4.15 (but that was this morning, I'll wake up tomorrow and it will probably be 5 cents more :rolleyes::mad:) |
Gas Prices
Several Factors to consider Katelyn.
1. DOLLAR WEAKNESS The fall in the value of the dollar against other major currencies has helped drive buying across commodities as investors view dollar assets as relatively cheap. It has also reduced the purchasing power of OPEC's revenues and increased the purchasing power of some non-dollar consumers. OPEC oil ministers have noted that although prices are rising to record nominal levels, inflation and the dollar have softened the impact. Some analysts say investors have been using oil as a hedge against the weaker dollar. 2. FUNDS Since the Federal Reserve cut U.S. interest rates in mid-August last year and central banks pumped billions of dollars into financial markets to ease a credit crunch, oil and gold have risen. Investment flows from pension and hedge funds into commodities including oil have boomed, as has speculative trading. At the same time, the credit crunch has brought some other markets, such as the U.S. asset-backed commercial paper market, to a virtual standstill. Some of that money has found its way into energy and commodities, analysts say. 3. DEMAND While previous price spikes have been triggered by supply disruptions, demand from top consumers the United States and China is a main driver of the current rally. Global demand growth has slowed after a surge in 2004 but is still rising and higher prices have so far had a limited effect on economic growth. Analysts say the world is coping with high nominal prices because, adjusted for exchange rates and inflation, they have been until recently lower than during previous price spikes and some economies have become less energy intensive. 4. OPEC SUPPLY RESTRAINT The Organization of the Petroleum Exporting Countries, source of more than a third of the world's oil, started to reduce oil output in late 2006 to stem a fall in prices. Fewer OPEC barrels entering the market helped propel the rally and consumer nations led by the International Energy Agency have urged OPEC to pump more oil. At its meetings since December, OPEC has agreed to leave output unchanged, saying there is enough crude in the market. It next meets formally on September 9. Few in the group believe there is much it can do to tame a market it says defies logic. 5. NIGERIA Supply of crude from Nigeria, the world's eighth-largest oil exporter, has been cut since February 2006 because of militant attacks on the country's oil industry. Oil companies and trading sources have detailed 559,000 bpd of shut Nigerian production due to militant attacks and sabotage. 6. IRAN Oil consumers are concerned about supply disruption from Iran, the world's fourth-biggest exporter, which is locked in a dispute with the West over its nuclear program. Western governments suspect Iran is using its civilian nuclear program as a cover to develop nuclear weapons. Iran denies this, saying it wants nuclear power to make electricity. Interestingly enough a few months ago Goldman Sachs predicted that the average price for a barrel of crude would be $140.00 for 2008. More recently Morgan Stanley predicted that number to a $150.00 average before July 4th. Fuel refiners and marketers have passed only some of the increase in crude prices down to consumers at the pumps. In my opinion, energy prices are not the fault of oil companies but are due to soaring crude oil markets. I do not believe that raising taxes on oil company profits is a viable solution. Higher taxes will make it harder for to compete abroad with state-owned oil companies for shrinking energy resources. Oil companies bear some of the highest tax burdens. For example, Exxon's effective tax rate is about 49 percent of revenues. The American Petroleum Institute answers complaints about windfall profits with statistics showing oil industry profits per dollar of revenue are in line with other industries, actually lagging some such as pharmaceuticals. Quote:
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Sadly, gas prices have already hit $4.00 in my city...in the most expensive stations in the most expensive part of town.
Near where I live and near where I work, they still are hovering between 3.85 and 3.95. I have yet to pay 4 dollars per gallon to pump gas- thank goodness. |
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I mentioned to my boyfriend yesterday that I wouldn't be surprised to see NJ hit $5 by the end of summer. Then he proceeded to get a devilish grin on his face, because by that point he will have sold his car and moved to Manhattan. :mad: |
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At the gas station I frequent it is now $3.99/reg. though I was driving around last night to meet up with some friends and saw in parts of Dallas there are still some areas in the mid-$3.80s |
In July, my co-worker & I are going to start carpooling a couple times a week. We'd start right now, but she drops her daughter off at the sitter's and I wouldn't want to leave my car in that neighborhood! July 1, she starts at a new sitter in a different, safer neighborhood.
Although, if I took the hubby's caddy and it got stolen, we could get a fuel-efficient car to replace it without breaking the lease! That is an idea... Hmmmmmmm |
We are still holding steady at $3.89 for regular. Happily I'm off for the summer and not taking a lot if unnecessary trips so I won't have to refill my tank as often.
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I paid $3.95 the other day, at an out of the way gas station in the sticks, but it was just one exist past where I would have gone. I thought it would be cheaper there because last time I got there it was only $3.85. But everywhere else around here is ~$4.00
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I'm really dreading our July road-trip to Missouri this year. Luckily my CR-V gets decent mileage, and uses regular. It will be about a 2,000 mile trip, but we have to go... hubby is in a golf tourney, and they won't fly our dog in the Summer. (He flies often with us in the winter-- only on delta or Northwest, because the other airlines suck at animal transport.)
Filled up hubby's truck at Sam's yesterday and it was $3.89. Everywhere else in town is at around the $3.93 mark. |
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I fly American and have never had any problems with taking my dog with me. It costs almost as much as an add'l seat even though it counts as a carry-on luggage piece |
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