News, Gasoline prices back above $3 a gallon (buy, gas, diesel)

[sundance67]

Originally Posted by Bydand

Wow, we never saw under $3 a gallon in Northern Maine. Lowest was $3.03 (OK $3.029 but that is just to make it look less than $3.03)

3.03 was also about the lowest we've seen. Out in Missouri gas is ridiculously cheap but in the middle of nowhere.

[marmac]

diddiyo----------thanks for the link

I added it to my favorites for easy reference.

[lchoro]

Chavez has rescinded his threat. Other countries don't have the refinery capacity to handle Venezuelan crude. He would have nowhere to sell the crude ... plus oil is a global market and a zero-sum game.

The problem appears to be the Fed's attempts to prop up the banks and the bad debts is causing the excess liquidity to go away from bad investments to the investments that were working best before the subprime blowup... oil, agriculture, metals. The market for debt derivatives has shut down and that liquidity is now stoking inflation.

[diddiyo]

Originally Posted by sundance67

I can't believe Colorado has cheaper gas than Chicago - I can't wait to get out of here. I saw an article awhile back that said Chicago is one of the most expensive places for gas- I never knew how much more we're getting ripped off, tho.
Since Colorado's on my list of possibilities, this helps w/ my move. Thanks

Have a look at this link

[Machinist]

Originally Posted by diddiyo

do you seriously believe the US (or any other counry for that matter...) would act any different if they were a major oil exporter?

Its not what the US or any other country would do, its what he actually did. Hes freezing a companies assets and rights to their resources. Not very legal according to the rest of the world..

Originally Posted by jfre81

Chavez is bluffing. His country would go broke if he really stopped sending oil to its top consumer. Americans bankroll that regime, lock stock and barrel.

The only reason prices are spiking that has anything to do with Chavez or Venezuela is that a lot of Americans are gullible enough to fall for his bluff which they read in passing while they were loading up the entertainment news to find out the latest on Britney.

Its also the same anytime theres a big uprising in the middle east, usually Iran making the same threats. Wall Street gets scared and bam, oil prices shoot up.

[southgeorgian]

Originally Posted by sundance67

3.03 was also about the lowest we've seen. Out in Missouri gas is ridiculously cheap but in the middle of nowhere.

3$ a gallon will be cheap compared to what it's going to go to as a barrel of oil hit over 100$ a barrel today. i'd say by summer, 4$. thank the bush administration.

[Mr.AdeL]

Originally Posted by diddiyo

do you seriously believe the US (or any other counry for that matter...) would act any different if they were a major oil exporter?

am with u 100%

here in my country we export petrol and we have alot but came and check the price of one gallon..... it's around 4$

[TheDragonslayer]

I would love to see $3 a gallon, we never went lower than $3.26 a gallon for regular. That is at Costco, at the other stations it is $3.44 for regular and $3.70 for diesel. It just went up six cents today to $3.50 for regular, I filled up at Costco and it had not gone up yet.

[dennismpat]

Originally Posted by TheDragonslayer

I would love to see $3 a gallon, we never went lower than $3.26 a gallon for regular. That is at Costco, at the other stations it is $3.44 for regular and $3.70 for diesel. It just went up six cents today to $3.50 for regular, I filled up at Costco and it had not gone up yet.

When I filled up on Sunday, I paid $2.97/gallon for 87 octane at my local Mobil station. Over the past couple of days it has crept up to $3.05.

Sounds like you folks in far northern California pay outrageous prices for gas. I thought San Diego was bad--they usually pay 10 cents a gallon higher than we do here in the Los Angeles/Orange County metro area of SoCal.

[KevK]

I don't even want to think about what the price will be in July