Experts: $4 a gallon gas coming soon


G

GramFan

Well-Known Member
Experts: $4 a gallon gas coming soon

Pricing analysts say consumers can expect even higher prices at the pump.

NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon, but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

OPIS tracks wholesale and retail oil prices and provides pricing information for AAA's daily reports on fuel prices.

http://money.cnn.com/2005/08/31/news/gas_prices/index.htm?cnn=yes
 
Oil is a comidity. Retail gas price is tied to the price of oil per barrell. For every $1/gallon of gas, then the barrell price is about $24. If gas gets to $4/gallon, then the oil per barrell price should be about $96.

I don't think this disaster should constitute a $25/barrell increase in oil. The US has 2 years of oil reserves.
 



Gas is right now higher than what the barrel of gas cost now. I saw the price go up by .20 cents overnight. Although I have 3/4 of tank in the truck now and will top it off in the morning before it goes up again.
 
It's getting down right stupid.....this Randalls that I pass coming in from work went from $2.55 on Tues to $2.79 on Wed to $3.31 this morning.....
 
I can tell you now...if the prices get even MORE ridiculous than they are, you can look for some folks to start staying home, or for businesses and corporations to institute 4-day work weeks.
 
we need a 4 day work week, gas is at an average here in memphis is 3.19 for 87. stations have ran out of 89/93 and have no idea when the gas trucks are coming. :splat:
 
capt.gagb10409010035.katrina_oil_gagb104.jpg


A gas station in Stockbridge, Ga., posts prices for gasoline from $5.87 to $6.07 per gallon Wednesday, Aug. 31, 2005
 
Um, given that the cost of a barrel of crude oil is NOT $125, aren't those prices unlawful?
 
Vinita said:
Um, given that the cost of a barrel of crude oil is NOT $125, aren't those prices unlawful?
Click to expand...

Vinita,
You can say that again!

It almost makes me regret just buying this:
2003-gmc-envoy-2.jpg

Luckily I still have Black Ice to ease the pump sticker-shock.
;)

~Astrya
 
Fiyah said:
It's getting down right stupid.....this Randalls that I pass coming in from work went from $2.55 on Tues to $2.79 on Wed to $3.31 this morning.....
Click to expand...

I guess the pressure of folks going elsewhere for their gas has brought this business to drop their prices, it is now $2.99. All the other stations that was close to this place was seling gas for $2.88-$2.99. I've seen prices in the area from $2.75 - $2.99 (with the exception of Randalls at the time). Although I had a 1/2 tank Thursday, I saw that $2.75 sign and pulled in quick to fill up. I was thinking that by the time I needed to fill up on Sunday, it would be $3.00/gallon. Wanted to save that .25cents/gallon price. It still cost me $41.00 to do that.
 
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