Get ready: Gas prices expected to jump 20 cents
With oil prices running amok of late, you kind of had to know this was coming. The US Energy Information Administration reports that consumers should prepare to see prices at the pump increase by another 20 cents or so in the coming weeks. Thanksgiving travelers should expect feel the pain immediately with jacked-up prices greeting them during the road trip to Grandma's. High gasoline prices should continue beyond the holiday, and if things go as projected, we can expect to see the a new record high set for gasoline in the immediate future. As for OPEC, the member states will meet in December to figure out what's on their agendas, and they haven't given the feds any clues. If they don't increase production, the price of crude will remain elevated and result in high fuel prices again this spring. The fun never ends.[Source: Reuters]












Reader Comments (Page 1 of 4)
Habibus 9:44AM (11/13/2007)
What? Gas prices being raised just before a major travel holiday? Why, this is so unusual!
Well, 20 Cents is a bit more than the usual holiday hike..
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strongbadinator 2:30PM (11/26/2007)
Just remember folks, Exxon Mobil made 9.92 BILLION dollars in the last 3 months. Pure profit. F*ck them. I'm going to ride my bike.
Tool 1:59PM (11/13/2007)
I read this recently. Puts the price increase into perspective:
"All else being equal, retail gas prices increase up to 25¢ for every $10 increase in crude oil prices, says Doug MacIntyre, an analyst for the Energy Information Administration of the U.S. Energy Dept."
Gamer11178 9:45AM (11/13/2007)
What that means is that the Big 3 will continue to see more losses. Especially Ford where their source of income is the Truck division.
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raz 9:45AM (11/13/2007)
Great, let those who oppose increasing MPGs be affected the most.
Great, let those who oppose increasing MPGs be affected the most.
Those who feel the pain of gas have long stopped buying from Detroit, that group alone probably makes over 50% of Hondas clients.
I hope that the members of Alliance of Automobile Manufacturers suffer the most, especially those who have been fighting to decrease MPG standard and eliminate CAFE as a whole for decades.
By that i mostly mean Ford.
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500 11:38AM (11/13/2007)
*sigh* Congratulations, the first one to bring politics into this. Oh, to only be as blissfully naive as all of you who think that Hillary can just magically snap her fingers and increase fuel economy.
I don't oppose increases in fuel economy, but I DO oppose increases to the extremely costly, inefficient CAFE program which reduces choice and has simply pushed people from big, powerful cars into big, powerful trucks which get worse mileage than the cars they replace! And none of the proposals out there will fix this problem.
Mr. Oak 12:25PM (11/13/2007)
"A plane like a Boeing 747 uses approximately 1 gallon of fuel (about 4 liters) every second. Over the course of a 10-hour flight, it might burn 36,000 gallons (150,000 liters). According to Boeing's Web site, the 747 burns approximately 5 gallons of fuel per mile (12 liters per kilometer)."
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So, lay the blame at the doorstep of GM, Ford and Chrysler all you want. It is the aviation industry that burns the lion's share of our fuel consumption, and 1 million fold creates more green house gases. Anyone care to guess how many jetliners are airborne right now as you read this?, or how much fuel they burned in the time that it took you to read this?, or how many trillion tons of greenhouse gases they release annually?
I have been driving for 30 years, and I still have not burned as much fuel as the most fuel-efficient jetliner will burn in 1 round trip from New York to Madrid.
Folks, not here to preach to any of you. Just merely to say I will drive what the F@%K I choose to, as long as it does not cause me any economic hardship.
The truth is, nothing that you or I do will amount to a hill of beans on this issue.
A shout out to brother AL Gore: Self-appointed world CZAR on the environment. Who on his way to pick up his Nobel prize for his work on the environment, FLEW IN HIS PRIVATE JET.
It's sort of like gun control. Guns are good for us, no matter many of us die from gunshot wounds.
Vincenzo 12:34PM (11/13/2007)
Hillary can actually snap fingers and increase fuel economy.
She could force at least the 65 mph limit on freeways.
The lower the speed, the less drag and the better fuel economy. Also, it helps underpowered (more economical) vehicles to enter and cruise on freeways.
Mr. Oak 12:35PM (11/13/2007)
My apologies, I was way off on my guesstimate of trillions of tons of carbon dioxide being released annualy by the aviation industry. See corrected figures below.
1 round trip from NY to LA or Trans Atlantic round trip = 2,000 pounds of CO2
In a year air travel releases 600 million tons of carbon dioxide into the atmosphere
VP 1:02PM (11/13/2007)
Those who feel the pain of gas have long stopped buying from Detroit, that group alone probably makes over 50% of Hondas clients.
...........................................
Yeah because the Japs produce nothing but green right? Tundra, Land Crusier, the craptastic Ridgeline etc don't sell any right?
Chris 2:16PM (11/13/2007)
Mr Oak, what is your problem?
1) A 747 uses 5 gallons of fuel per mile
2) A 747 carries 416 passengers (for a 3 class plane, over 500 for a 2 class plane)
I'm going to use 400 passengers just to make the math easier, as it's more realistic anyway.
For each passenger, 0.0125 gallons of gas are used per mile per passenger.
That's 80 miles per gallon per passenger. What's wrong with that?
Mr. Oak 2:45PM (11/13/2007)
Chris: You are looking at the efficiency estimate. I was not looking at it from the economical perspective, I was looking at 600 millions tons of carbon dioxide annually. That is absolute, regardless of if they're full of passengers or not. Even if we all drove Priuses or Escapes, the Polar ice caps are still going bye bye. I would advise the polar bears to practice their backstroke.
Listen. I drive a relatively large car (Lincoln LS), commute by public transportation, Fill up the old Linc. every other week or so. I don't give a crap what gas cost. Sometimes $35, sometimes $45 to fill her up.
I will not buy a car solely based on it's fuel economy. Then again, I really only drive on weekends.
You can't whine about the environment, and jump on a private jet, when there are dozens of other jets already going your way.
Not a tree hugger, just sick on folks whining and blaming and not really even knowing what the source of the problem is. For all we know the earth may just be doing what she always did, long before we got here.
Guenther 3:27PM (11/13/2007)
Mr Oak- 2000 pounds NY-LA round-trip???? CO2 is just over 1/4 carbon by weight. Jet fuel (and most mineral based fuel) is about 85% carbon- that comes out to less than 700 gallons to cover about 6000mi. math doesn't add up.
Mr. Oak 4:00PM (11/13/2007)
Guenther: ?????
Okay, below I gave you three definitions.
1. What is a Mineral:
A mineral is a naturally occurring substance formed through geological processes that has a characteristic chemical composition, a highly ordered atomic.
2. What is Petroleum
Petroleum - A naturally occurring, oily, flammable liquid composed of hydrocarbons and found associated with gas in natural underground reservoirs.
3. The primary ingredient in most jet fuels.
Kerosene - A colorless, low-sulfur petroleum product that burns without producing much smoke. It is the primary ingredient in most jet fuels.
Going on the information given above, Kerosene is a petroleum, and petroleum by definition is a mineral.
What the hell are you talkin' Willis?
Mr. Oak 4:07PM (11/13/2007)
Guenther: Oh and the math--->
3000 @ 5 gals per mile = 15,000 gals one way.
15,000 x 2 = 30,000 gals for the round trip.
the marais 9:48AM (11/13/2007)
Get the speculators out of the oil futures market. They are artificially inflating the price, as with any hot equity item (google, aol pre-2001, etc.). OPEC says time and again that the world price of oil is way out of proportion with the supply-and-demand price. (OPEC thinks it should be $50-60/barrel). However, too many investment banks are making way too much money right now. The people who suggest that you just buy energy stocks to cover your gasoline bill may just have it right.
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Tagg 11:13AM (11/13/2007)
Thank for your insight in an otherwise baseless collection of posts on this subject. It still amazes me that people on here continue to single out Detroit as the source of all evil when it comes to anything automotive.
Sean Flanagan 11:43AM (11/13/2007)
Well said. Speculation combined with greedy oil companies are serving to artificially inflate the price at the pump. Consumers aren't the ones who suffer most, however: gas station owners do. Their prices are effectively set by the oil companies and the wholesale prices they pay. Unfortunately, the higher the price at the pump, the less volume the retailers sell. They get caught in a pricing war among themselves in a fight for customers looking for the best deal, while the oil companies make their steady (and astronomical) profits.
A prime example, though admittedly abnormal, is the aftermath of hurricane Katrina. Oil companies reported record profits while their privately owned retailers suffered from the effects of localized rationing and artificially inflated wholesale prices.
HineyWipe 4:22PM (11/13/2007)
What you are really saying is toss out the retarded politicians that are in the banker's pockets. Which is pretty much all of DC. I'm for it.
Gene B 9:49AM (11/13/2007)
Remember that everything is cyclical. This too will pass. The next economic downturn - now long overdue - will take the air out of the bubble. Just don't worry too much.
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