Oil & Fuel Dire fuel predictions

[JDgreen227]

Junkman,

You say Gulftane was only a step up from kerosene, well, about a year ago I purchased white kerosene for $1.79 a gallon while regular was selling for $1.49 at the same Speedway. The sign on the pump said the kerosene was not taxed as it wasn't a "motor fuel". We should be glad we don't have to buy kerosene for everyday use !! With the taxes it would be too expensive.

 

[narcnh]

Interesting. But, according to the CST article gasoline increases 2.5 cents at the pump for every $1 increase per barrel of crude oil. Regualr gasoline was $1.55 at the time of the article and a barrel of crude was priced in "the mid 30's." $3.00 - $1.55 = $1.45 increase to get to 3 bucks a gallon from today's price. $1.45 / $0.025 = $58. So, the price of crude would have to go to over $90 per barrel to drive the price per gallone of regular gasoline to $3.00 ($35 + $58 = $93). There is a good review of oil prices and the reasons for price changes at:

http://www.wtrg.com/prices.htm

The only time in the last century+ that U.S. crude oil has been above $40 per barrel was briefly during the Iraq-Iran war in the early 80's, when it went to the high $50's. So, historical data would indicate that an increase to $3.00 per gallon is unlikely, barring severe shortages this summer, which I suspect G. Dubya's buddies would not allow to happen before an election.

 

[Junkman]

Disclaimer:..... this is not a political post..... for informational purposes only..... Please be tolerant....

The US economy is directly tied to energy prices. When energy prices are low, the economy will grow. When the energy prices go up as they did in 1973 - 80 the economy will stagnate. We have been very lucky that the Federal Reserve is so closely monitored the economy and has made adjustments to the monitory system that has kept us on an even keel. I can remember the wild swings of the 1950's & 1960's. Hopefully we will also weather this next economic upturn / downturn as well as we have in the past 20 years....

 

[Ender]

The thing of it is, oil prices have remaind fairly static for the last couple of years, right around 30 bucks a barrel. It is the live for today outlook taken by the refiners that causes the huge fluxuation in prices. They knew it was going to be cold this winter, so they make heating oil. When the devote 70+ percent of their crude stocks to heating oil gas prices go up. And, they get to jack the heating oil prices up also.

A long term view by an oil company is into the next month....

 

[frank_f15]

DON'T worry fellas, they have it all planned out, gas just went up here this past week by about 8cents , this is because of the cold weather(even tho the weather for the season has not been that cold) now it will continue to rise but then drop a few cents this spring before it rises for the summer driving season. did u ever notice it never drops as fast or as far to get to it's low point before it rise again? /forums/images/graemlins/crazy.gif the bad part is that it affects the price of everthing . i better get off this topic. have to go take another blood pressure pill. we are being snowed folks.

 

[SPIKER]

first off let me say I voted for DUBBYA: but I don't feel the need to send 80 bill over to the oil rich sand dunes. we are there to make it safe for US here, and I was active duty for SR durring the 1st go around. I am glad we got ole sodaminsiane finally but just the same we should not be giving away all our financial assetts to them when mostly they would rather see us gone for good, even if it does mean a 2nd dictator will rise out of the ashes.

anyhow it is really funny how gas prices will go up the day that crude oil prices go up or opec anounces that they are going to cut production. yet after the prices have dropped on crude or they anounce they are increasing production gas prices do not drop for weeks and will usually not drop to a price that is less than it was prior to the announcement! really errks me to no end.

One thing that was nice was buying gas on base when I was active duty, and not having ot pay the extra 30~50cents pre gal taxes!

Mark M /forums/images/graemlins/mad.gif

 

[BIGUN]

Gas has gone up .30 a gallon since Christmas here in Tulsa. It has dropped a few cents in the past couple of days.

I can remember buying gas in Texas for 13.9 (think the tax was 11 or 12 cents) back in 1971, with 17.9 not being uncommon and 22.9 the norm when the service stations weren’t having a price war. I could FILL up my old Corvair for a few cents more than a gallon cost now. I can remember going out driving around with buddies just to burn it up so we could go buy some more at that bargain price. /forums/images/graemlins/laugh.gif I worked at a full service Exon at that time, when they were changing their name from Enco (I think) and we sold regular for 33.9. I never bought my gas from where I worked at that outrageous price. /forums/images/graemlins/tongue.gif

 

[frank_f15]

back in the late 50's early 60's u could pull into a station and tell them give $1.00 worth. and they did not think u were crazy, plus they would clean windshield and give u glass or a dish. HOW THINGS HAVE CHANGED, course i was earning $4000 a year /forums/images/graemlins/frown.gif

 

[RobertN]

42.9 cents?!? Look at state/Fed taxes on gas and diesel... Here in Calif it's more than that just in taxes!

 

[Slamfire]

I remember a gas war in 1972. I was buying for 24.9, at the winner's. As for the price of gas being related to the price of oil, you're forgetting that some areas have designer gasoline mandated during the summer. California still hasn't gotten a carcinogen that's polluting ground water out of their mandated gas blend. They've known about it for as long as the recalled Governor was in office.