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Gas Prices where you live


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because I thought gas was something completely different in itself.

LOL, it might serve you well to read this: http://en.wikipedia.org/wiki/Oil_refining

 

In simple terms, crude oil is what petrol (gasoline) is made from.

Demand for oil is growing, but supplies are being depleted, this forces the price up since people are in completion for the supplies of it (if it was too cheap, more people would be buying it, and there would be shortages)

Man someone needs to find an alternative fuel source or win this war fast!

To be honest, I think a better thing to be doing in the meantime (while this development takes place) is for people to start pressuring governments for better public transport...It's something we are already capable of implementing. Throughout the world, there are many countries and cities where people largely don't drive their cars, when its well planned out and implemented, its faster, cheaper, and more enjoyable than driving.

 

Ok thank you for the info on oil/gas products. Sorry I forgot I had the use of the internet to help me. Gas is now 4.17 it went up 11 cents in one night! The whole public transportation sounds cool, I take the bus every day to school anyways, so why not anywhere else. (WOOT SUMMER IS HERE NO MORE SCHOOL!)

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I read an article saying there are fears of gas rising to around $5 by July 4th.

 

It pisses me off how the oil companies feel the need to squeeze all the money they can out of people. I watched a show, with all these oil company executives saying how much they made. One made around 12 million, and the others made so much money, they didn't even know.

 

IS THAT ENOUGH MONEY FOR YOU?!?!

 

Damn. Not everyone can afford $100 twice a week just to fill up.

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I read an article saying there are fears of gas rising to around $5 by July 4th.

 

It pisses me off how the oil companies feel the need to squeeze all the money they can out of people. I watched a show, with all these oil company executives saying how much they made. One made around 12 million, and the others made so much money, they didn't even know.

 

IS THAT ENOUGH MONEY FOR YOU?!?!

 

Damn. Not everyone can afford $100 twice a week just to fill up.

 

The worlds richest man is an oil company owner down in Mexico, he makes 1 million dollars an hour even when he sleeps! Its crazy how much there pushing for these days! When it hits 5 dollars Im either biking or jogging.

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^Maybe he should realize that some people don't even make a million dollars in their whole life, and he is making that in one hour of sleep. I hope he is happy. I hope he is satisfied.

 

*Ending carcasm*

 

How can he even sleep knowing what he is doing? Hell, the Dow dropped almost 400 points today!

 

I guess I am lucky. I read another article saying Wichita has the cheapest gas. Either way, gas prices EVERYWHERE are unacceptable.

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I read an article saying there are fears of gas rising to around $5 by July 4th.

 

It pisses me off how the oil companies feel the need to squeeze all the money they can out of people. I watched a show, with all these oil company executives saying how much they made. One made around 12 million, and the others made so much money, they didn't even know.

 

IS THAT ENOUGH MONEY FOR YOU?!?!

 

Damn. Not everyone can afford $100 twice a week just to fill up.

 

Do you have the link to that article? I think that's rather interesting.

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^Here's one of them. It's not the original one I found, but I searched and found a list of articles talking about it.

 

Oil prices made their biggest single-day leap ever Friday - clearing $139 a barrel after Morgan Stanley predicted prices would hit $150 by the Fourth of July.

 

The unprecedented jump is all but certain to drive gas prices well past the $4 mark in the coming weeks.

 

Oil's meteoric surge, which pushed prices more than 8 percent higher in a single day, capped its biggest two-day gain in the history of the New York Mercantile Exchange.

 

The burst also raised the prospect of accelerating inflation by adding to already strained transportation costs.

 

Light, sweet crude for July delivery jumped as high as $139.12 on the Nymex, before easing slightly to settle at $138.54, up $10.75. The previous record was set on May 22, when prices hit $135.09 a barrel.

 

Friday's rise was bigger than the entire price of oil on Dec. 10, 1998, when crude traded at $10.72 a barrel. Oil has more than doubled in the past year.

 

Prices pushed sharply higher Friday after Morgan Stanley analyst Ole Slorer predicted strong demand in Asia could drive prices to $150 by Independence Day, when millions of Americans are expected to take to the roads.

 

Oil may "spike" because "Asia is taking an unprecedented share" of Middle East exports, Slorer wrote. He said shipments from the Middle East are mimicking patterns seen in the third quarter last year, when Morgan Stanley based an oil price spike prediction on falling supplies in the Atlantic.

 

"We made the same call using the same parameters, but now we are starting from much lower inventory levels," Slorer said.

 

A further weakening of the dollar also helped send oil prices higher by enticing overseas buyers armed with stronger currencies and others looking for a hedge against the greenback.

 

But it also represented a stampede by bullish traders and optimistic computer models betting that prices still have further to rise.

 

Meanwhile, U.S. gas prices at the pump continued to hover just shy of an average $4 a gallon, easing only 0.3 cent from Thursday's record.

 

On Friday, Colorado's regular, unleaded gasoline stayed at the record high average price of $3.932 a gallon for the second day in a row, about 60 cents higher than the $3.282 a year earlier.

 

Drivers are now paying an average of $3.99 for a gallon of regular gas nationwide, according to AAA and the Oil Price Information Service.

 

In many parts of the country, consumers are already paying well over $4. Retail diesel slipped a penny overnight to $4.76.

 

Pump prices are bound to rise even further if oil sustains its advance. James Cordier, president of Tampa, Fla.-based trading firm Liberty Trading Group, predicted prices could rise to $4.25 as early as the end of the month.

 

"Unfortunately, drivers cutting back isn't going to lower the price of gasoline any time soon," he said.

 

Many traders buy commodities such as oil as a hedge against inflation when the dollar is falling, and a weaker dollar makes oil cheaper for investors dealing in other currencies.

 

Analysts believe the dollar's protracted decline has been a major reason why oil prices have nearly doubled in the past year.

 

Oil is "being used as a hedge by speculative buyers for the weakened dollar," said Gary Adams, vice chairman of oil and gas consulting at Deloitte & Touche LLP in Houston. "We are seeing that the price will continue to go up as investors look for alternatives."

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Look what I found

 

NEW YORK - Parents who want to let out a good scream the next time they fill up the gas tank or grocery cart might want to think local for vacations this summer.

ADVERTISEMENT

 

The weak economy is expected to help boost attendance at regional theme parks, as families opt for entertainment that doesn't require as much travel.

 

"It's going to be a close-to-home year," predicted Dennis Speigel, president of International Theme Park Services, an industry consulting firm. While the economy "isn't going to help anybody," he said, companies like Six Flags Inc. and Cedar Fair LP may benefit from the expectation that vacationers "will not be traveling as far because of gasoline prices."

 

Companies have started promotions early to attract more people, Speigel said. Six Flags, for example, cut its entrance fees by $10 for most of its 19 U.S. parks, if tickets are purchased online.

 

Six Flags Chief Financial Officer Jeff Speed said the company has seen in past economic slowdowns that attendance at regional parks tends to be resilient. "They're not going to do away with vacations, but they scale back a little bit," he said.

 

Keybanc Capital Markets analyst Scott W. Hamann agreed.

 

"To fly down to Orlando might not be in the budget for some people," he said, noting that regional parks get 80 percent of their attendance from within 150 miles.

 

So-called "destination" parks, like Disney World, Universal Studios and Busch Gardens, are not expected to feel much of a pinch, even if fewer people head there from the U.S., observers said, because the weak dollar has drawn more foreign travelers to this country, and many will make a stop at those iconic locations.

 

With few exceptions, regional parks attract few foreign visitors.

 

While it's still very early in the theme park season — July will draw the most attendance and August is the second-most popular month — Lee Alexakos, vice president of marketing and advertising for Cedar Fair, said the company had an "outstanding" Memorial Day weekend.

 

But Keybanc's Hamann cautioned weather and other factors can influence attendance over the summer months, and indicators so far are mixed. While season pass sales for Cedar Fair parks appear strong, he said, other signs, like hotel room bookings are "a little soft."

 

"Something that we might see this year is that people might take trips at the last minute," Hamann said.

 

Another factor that Wall Street will keep a close eye on is sales of food and souvenirs inside the parks, or in-park spending. In recent years, the metric has accounted for about 37 percent of annual revenue at Cedar Fair, and about 46 percent at Six Flags.

 

For the 2008 first quarter, Six Flags said in-park spending rose 13 percent, while Cedar Fair reported a 27 percent increase. Thomas Staggs, CFO for The Walt Disney Co., said during the company's first-quarter conference call that per capita spending at Florida's Disney World rose 3 percent, while it jumped 8 percent at California's Disneyland.

 

Six Flags shares are up 2 percent this year, while Cedar Fair shares are up about 6.4 percent and Disney shares are up 6.8 percent.

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Yesterday, the gas station was at $4.39/gallon...This morning, they jumped to $4.53/gallon. I'm sure that will again change tomorrow. I'm really worried to see what we'll get by the 4th of July...Use a holiday as an excuse to drastically raise the price, then keep prices rising long after the holiday has past. Really annoying me, though I know there's not a single thing I can do about it other than not buy gas. It's time I begin long-distance pumping on my longboard (riding distances with very minimal pushing via a technique called pumping). Can't exactly do that on my way to school though as it's way up in the hills.

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