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Highest GAS prices ever.

Steve

Well-known member
Gas Prices Skyrocket to Record Winter High

A wake-up call for drivers. We just learned that gas prices have skyrocketed. Hitting a record for this time of year

NEW YORK (Reuters) - Hess Corp's decision to close its U.S. East Coast refinery, the latest plant to fall victim to weak profits in the Atlantic Basin, could threaten painful gasoline price spikes for regional drivers as local fuel supplies dwindle further.

Hess will shut the 70,000-barrels-per-day Port Reading, New Jersey plant in late February, as part of a larger restructuring, the company said in a statement on Monday.

U.S. RBOB gasoline futures, already near a record high for this time of year, jumped more than 2 percent after the announcement, as the supply outlook for the Mid-Atlantic and New England markets suddenly looked tighter for the summer driving season.

A tighter East Coast gasoline market could mean national gasoline prices hit $4 a gallon by the spring if international oil prices remain above $110 a barrel, threatening to create additional drag on the struggling economy.

Americans are pumping about 4% of their incomes into buying gasoline, according to a government report.

The Energy Department said on Monday that U.S. households spent an average of $2,912 on gasoline last year, the highest level in four years.

The percentage reached similar levels in 2008, when a red-hot global economy and panic over dwindling supplies sent gas prices through the roof. But before then, the percentage hadn't reached these levels in nearly three decades.

gas prices have been soaring, and that's why the percentage of Americans' incomes devoted to gasoline has increased. The average price of gasoline rose to its highest-ever level in 2012

well the high gas prices never left,.. but the record high gas prices are back.. and now breaking more records..



Gasoline at Highest Price Ever for This Time of Year

U.S. drivers are now paying more to fill up their gas tanks than they ever have at this time of year.

The national average price of retail gasoline posted its biggest one-day increase in 23 months on Friday, rising four cents to $3.46 a gallon, according to AAA. The average price has risen 13 cents -- a 4 percent increase -- in the past week.

"This is the highest price record for February 1st,"

Oil producer Hess announced earlier this week that it is shutting its refinery in Port Reading, N.J., by the end of February. That refinery accounts for about 7.5 percent of oil production on the East Coast at about 70,000 barrels per day.

Biggest Gas Price Jump in Two Years

The weekly average price of a gallon of regular gas is $3.54, up 18 cents from a week earlier. That’s the biggest weekly price increase in two years, according to the Department of Energy.

This price is also up 6 cents from a year ago.

Dow’s Biggest Drop of the Year

In the first trading day after hitting the 14,000 milestone, the Dow Jones Industrial Average had its biggest drop of the year

I was a bit shocked to see $4.06 yesterday,.. I thought it was a sign that just didn't get updated.. I was wrong...

but then few are complaining.. as they normally would about the big oil ripping US off,.. so it must be ok .. cause a liberal is in office.. :?
 

Broke Cowboy

Well-known member
Taking into account the US gallon as compared to our litre - and the US dollar and our dollar - if I could find 4 dollar gasoline I would smile

It has been riding that 5 buck mark here in Canada for quite some time.

And yes, diesel is even higher.

So, kwitchyerbitchin! LOL

Best to all

BC
 

hopalong

Well-known member
Remember when oldtimer was giving obama all the credit for the low gas prices in AZ a couple of months ago....how obama was responsible for cheap gas.???? Who is to blame now oldtimer?????? :wink: :wink: :wink:
 
A

Anonymous

Guest
There will never be any new refineries built- or chance at gas price stabilization until the Congress pass's a long term energy bill/plan ...
The energy experts and oil folks testified to Congress that that was the only way you would get any major investments to take place..
 

hopalong

Well-known member
so who is it oldtimer, who is to blame??????the cheap gas in AZ a couple of months ago were the results of obama doing his job???or not blame the congress ???No longer can blame BUsh can you?????
EH oldloser,,,Get out of the bottle and make sense!!!!!
 

hypocritexposer

Well-known member
Oldtimer said:
There will never be any new refineries built- or chance at gas price stabilization until the Congress pass's a long term energy bill/plan ...
The energy experts and oil folks testified to Congress that that was the only way you would get any major investments to take place..


There won't be any long term investment, as long as the Government, "sticks their nose" in the free market.

which company is going to invest millions, like TransCanada has, only to be denied the opportunity, by the President, because he wants to pay back his "greenie weenie" donors?

The US "energy plan", should be "drill, baby, drill"

Read yesterday that they have found a shale "play", in Texas, 50% larger than both the Bakken and Ford combined. Costs are estimated to be 50% cheaper.

Too bad that XL pipeline wasn't already built. They will probably now move rigs and resources to Texas and let N. Dakota sit for a bit.

I wonder how much cheaper it will be to get the oil to the refineries?
 
A

Anonymous

Guest
hypocritexposer said:
Oldtimer said:
There will never be any new refineries built- or chance at gas price stabilization until the Congress pass's a long term energy bill/plan ...
The energy experts and oil folks testified to Congress that that was the only way you would get any major investments to take place..


There won't be any long term investment, as long as the Government, "sticks their nose" in the free market.


:lol: :lol: The US governments nose has been in the free market system in this country since 1789- when Alexander Hamilton proposed taxing whiskey to pay the countries war debt-- and George Washington agreed to it.......
The chances of that changing are slim to none, and slim long ago left the building.... :wink:
 

Whitewing

Well-known member
Mike said:
Whitewing said:
I'm still paying $0.03/gallon for 95 octane and diesel is basically free. :mad:
You dog. :wink:

Of course, the roads are almost as bad as those of Louisiana, spare parts cost 4 X's what they cost in the States, and there's a good chance of getting robbed at gunpoint every time one leaves the house.

Other than that, everything's peachy. :D
 

okfarmer

Well-known member
Whitewing said:
Of course, the roads are almost as bad as those of Louisiana, spare parts cost 4 X's what they cost in the States, and there's a good chance of getting robbed at gunpoint every time one leaves the house.

Other than that, everything's peachy. :D



When did you move to Chicago?
 

Steve

Well-known member
Oldtimer said:
There will never be any new refineries built- or chance at gas price stabilization until the Congress pass's a long term energy bill/plan ...
The energy experts and oil folks testified to Congress that that was the only way you would get any major investments to take place..

so for 4 years.. nothing was done,.. and now in another 4 years ,.. nothing will get done.. (unless someone invents a car that runs on windmills)..

yet you still can't blame Obama for his lack of action,.. why?
 

gcreekrch

Well-known member
Broke Cowboy said:
Whitewing said:
I'm still paying $0.03/gallon for 95 octane and diesel is basically free. :mad:

Might pay to buy it and ship it north!

BC

I know a few guys in Bella Coola that might be convined to sail down and pick up a load. Think you could arrange loading WW? :D
 
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