Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO]]]>http://www.autoblog.com/2009/06/30/new-hyundai-assurance-provision-locks-gas-at-1-49-gal-for-one-y/http://www.autoblog.com/2009/06/30/new-hyundai-assurance-provision-locks-gas-at-1-49-gal-for-one-y/http://www.autoblog.com/2009/06/30/new-hyundai-assurance-provision-locks-gas-at-1-49-gal-for-one-y/#commentsFiled under: , ,


Hyundai Assurance Gas Lock ads - Click above to watch the videos after the jump

Hyundai is piling on additional incentives to boost its Assurance program as the industry heads into the dog days of summer. The newest promotion, Gas Lock, fixes the price of regular unleaded at $1.49 per gallon for the next year. The program runs July 1 through August 31, and eligible vehicles include the Accent, Sonata, Tiburon, Elantra, Elantra Touring, Entourage, Azera, Santa Fe, Tucson and Veracruz. Customers choosing to utilize Gas Lock will forgo $1,000 in available rebates, making the incentive a gamble that gas prices will remain high.

Hyundai Assurance struck at cord with the American public when it offered payment protection in the event of job loss. Now Hyundai is looking to give consumers increased peace of mind over of the volatility of gas prices, which have swung from under $2 a gallon a few months ago to nearly $3 at the beginning of summer.

John Krafcik, CEO and president of Hyundai Motor America, says the company's research shows that "nearly 40% of potential new car buyers are staying out of the market specifically due to uncertainty around future gas prices."

You may remember that last year, Chrysler tried a similar promotion, offering the opportunity to lock in gas at $2.99 per gallon when a gallon of petrol was at an all-time high of about $4.50. The move didn't appear to be very successful for the Pentastar, as most opted to instead take the upfront cash on the hood. Hit the jump to pour over the particulars of Hyundai's Gas Lock promotion, watch the two commercials, and let us know in the comments section if you feel customers would be better off taking the $1,000 or one year of $1.49 gasoline.

[Source: Hyundai | Image: Justin Sullivan/Getty]

Continue reading New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO]

New Hyundai Assurance provision locks gas at $1.49/gal for one year [w/VIDEO] originally appeared on Autoblog on Tue, 30 Jun 2009 11:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>azerafuel pricesFuelPricesgasgas lockgas pricesGasLockgasoline pricesGasolinePricesGasPriceshyundaihyundai assuranceHyundaiAssuranceincentivesrebatessanta feSantaFesonatatucsonveracruzTue, 30 Jun 2009 11:28:00 EST<![CDATA[Interactive map reveals our global oil useage by barrel, money]]>http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/http://www.autoblog.com/2009/01/10/interactive-map-reveals-global-oil-useage-by-barrel-money/#commentsFiled under:



The Rocky Mountain Institute has created a nifty interactive map that shows you where the U.S. gets its oil from, along with how much - and who - the U.S. pays for its oil. Based on the thickness of the lines, you can see just how much black stuff is coming from where. The map goes as far back as 1973, the year of the first oil crisis, and is accompanied by a graph charting usage and dollars since then. As you'll notice in the pic above, we give a whole lot of money to Saudi Arabia, as well as our Canuck friends up north.

Additionally, RMI has included information on oil production in the Arctic National Wildlife Refuge and the Outer Continental Shelf (in the Gulf) There are some interesting factoids to be found: ANWR drilling wouldn't start until 7-12 years after it's opened up, and peak production - up to 1.9 million barrels-per-day - isn't expected to commence until 20-30 years after that. Thus, drilling in the OCS probably won''t have any impact on fuel prices until 2030. Follow the link to check it out for yourself. Hat tip to reader Rick!

[Source: Technology Review]

Interactive map reveals our global oil useage by barrel, money originally appeared on Autoblog on Sat, 10 Jan 2009 10:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>alaska drillingAlaskaDrillinganwrcontinental shelfContinentalShelfdiesel pricesDieselPricesdrillingfuelfuel pricesFuelPricesgasgas pricesGasPriceslifestyleoiloil drillingoil pricesoil refiningOilDrillingOilPricesOilRefiningrefineryrocky mountain instituteRockyMountainInstituteSat, 10 Jan 2009 10:02:00 EST<![CDATA[The NYT chimes in: time for a gas tax]]>http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/http://www.autoblog.com/2008/12/28/the-nyt-chimes-in-time-for-a-gas-tax/#commentsFiled under: ,

Can you hear that? Those are the war drums, and more and more of them are beating the same tune: bring on the gas tax. An editorial in The Gray Lady is the latest and arguably the weightiest to join the shock troops advocating for higher gas prices. The writer proposes a fluctuating consumption tax that would keep gas at least $4 per gallon in 2008 dollars, while an economist suggests a sliding tax on the price of a barrel of oil to achieve the same effect.

The NYT admits "a bitter recession is not the most opportune time to ratchet up the price of energy." But it balances that against the coming Obama administration's aims, the government's enviro-friendly suggestions to the U.S. auto industry, and Americans' claims to want to get off of foreign oil.

Although not mentioned specifically in the Times piece, some recommend a gas tax for a reason that has nothing to do with environmental stewardship: state governments need money. States are making enormous budget cuts, trying to sell and lease their lotteries, state parks, roads, bridges, and even their airports, and lining up for federal aid totaling hundreds of billions of dollars, and still saying they won't have enough money. The answer to "Will there be a gas tax?" could be, as Jesse Jackson once said, "The question is moot!" The question is not whether there will be a gas tax, but whether you will pay your additional taxes at the pump, at the toll booth, in your paycheck, etc...

[Source: New York Times]

The NYT chimes in: time for a gas tax originally appeared on Autoblog on Sun, 28 Dec 2008 13:04:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel pricesFuelPricesgas pricesgas taxgas taxesGasPricesGasTaxGasTaxesgovernmentnew york timesNewYorkTimesoiloil pricesOilPricesSun, 28 Dec 2008 13:04:00 EST<![CDATA[Cheap Gas = Trucks to outsell cars again this month]]>http://www.autoblog.com/2008/12/24/cheap-gas-trucks-to-outsell-cars-again-this-month/http://www.autoblog.com/2008/12/24/cheap-gas-trucks-to-outsell-cars-again-this-month/http://www.autoblog.com/2008/12/24/cheap-gas-trucks-to-outsell-cars-again-this-month/#commentsFiled under: , , , ,

It's the same old story, people say one thing, yet do another. The price of fuel has fallen to the point that it's no longer financially ruinous to fill the tank on a full-size pickup, so looks like truck sales will eclipse cars in December. Despite the public's rhetoric about smaller and more fuel efficient vehicles, the populous has seemingly gone back for another feed at the truck trough. Winter tends to remind people of the things that SUVs and trucks are good for, like plowing and effortless going in inclement conditions while also carrying a passel of rugrats and their associated detritus. Not only are truck sales expected to be up, Hybrids will be the flip side of the trend, underperforming compared to what everyone might have thought a mere four months ago. It might end well for the automakers, with higher profit trucks bouncing back, though the investment in green and hybrid technology will go wasted if the marketplace ignores it, a real danger with fuel prices easing... for the time being. Hat tip to reader "Throwback"

[Source: CNN, Photo: yammeringmagpie]


Cheap Gas = Trucks to outsell cars again this month originally appeared on Autoblog on Wed, 24 Dec 2008 09:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>energy pricesEnergyPricesfuel pricesFuelPricesgas priceGasPricesuv and trucksuv salesSuvAndTrucktruck salestrucksTruckSalesWed, 24 Dec 2008 09:58:00 EST<![CDATA[Chrysler's $2.99 gas card promo pretty worthless, for now]]>http://www.autoblog.com/2008/11/24/chryslers-2-99-gas-card-promo-pretty-worthless-for-now/http://www.autoblog.com/2008/11/24/chryslers-2-99-gas-card-promo-pretty-worthless-for-now/http://www.autoblog.com/2008/11/24/chryslers-2-99-gas-card-promo-pretty-worthless-for-now/#commentsFiled under: , ,



Oh well. Those Chrysler "Let's Refuel America" gas cards undoubtedly sounded good to car buyers over the summer when gas was well over four bucks and it seemed like there was no limit to how high the price could go. Offered in lieu of rebates, the gas cards essentially locked drivers into the then-cheap pump price of $2.99/gallon. Now, several months (and countless hysterical media reports) later, the economy is in the tank and so, as it happens, is the price of gas. In what feels like a time warp, $2-per-gallon gas is suddenly not uncommon. That's great news for drivers in general, but less so for drivers holding the $2.99 gas cards, which don't seem like such a hot deal anymore. This is the gamble you take when you agree to a fixed price on a commodity subject to market fluctuations. It's the same issue some people now face with heating oil: over the summer, customers who locked-in a contracted price in fear of astronomical costs this winter are now set to pay through the nose, while others who gambled and decided to just pay market price are at an advantage. The good news for the Chrysler gas card holders: the price is good for a couple more years, so if gas shoots up again, they're back in the game. Thanks for the tip, Soh Won Cha!

[Sources: BNet, KPTV]

Chrysler's $2.99 gas card promo pretty worthless, for now originally appeared on Autoblog on Mon, 24 Nov 2008 13:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2.99chryslerfuel pricesFuelPricesgas cardsGasCardslets refuel americaLetsRefuelAmericaMon, 24 Nov 2008 13:30:00 EST<![CDATA[Man claims prayer brought pump prices down]]>http://www.autoblog.com/2008/08/18/man-claims-prayer-brought-pump-prices-down/http://www.autoblog.com/2008/08/18/man-claims-prayer-brought-pump-prices-down/http://www.autoblog.com/2008/08/18/man-claims-prayer-brought-pump-prices-down/#commentsFiled under: , ,



In the book of Genesis, man was given dominion over all the plants and animals, so we're guessing that dead, liquified ones count, too. Since Rocky Twyman started his Pray At The Pump effort in April, average fuel prices have certainly fallen. Twyman believes that his groups' prayers have effected the change, and that no other factors like shifting consumer behavior, international conflict, or speculators has anything to do with it. Right.

The Pray At The Pump group is not just asking for divine fuel price intervention without also encouraging acts of sacrifice on behalf of man - Twyman's ministry strongly encourages car pooling and better organized trips to maximize conservation on a day to day basis. After all, committing the mortal sin of gluttony while asking for the Lord to make it easier on us all would ring kind of hollow. We suppose even the non-faithful can get behind Twyman's effort in that it's at least as effective as the various fuel-saving trinkum that internet scheisters are imploring us to buy (run your car on water? hydrogen "batteries"?), and it costs nothing, to boot. Combined with a regimen of proven fuel-saving behaviors, extra prayers certainly can't hurt in keeping the flow of car-sustaining manna trickling along at an affordable price.

[Source: BBC, AutoblogGreen, Photo: daylife.com]

Man claims prayer brought pump prices down originally appeared on Autoblog on Mon, 18 Aug 2008 18:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel price prayerfuel pricesFuelPricePrayerFuelPricesgas price prayergas pricesGasPricePrayerGasPricesprayer fuelprayer gasPrayerFuelPrayerGasrocky twyman fuel priceRockyTwymanFuelPriceMon, 18 Aug 2008 18:58:00 EST<![CDATA[10 reasons why auto sales are dropping (besides the economy and fuel prices)]]>http://www.autoblog.com/2008/08/14/10-reasons-why-auto-sales-are-dropping-besides-the-economy-and/http://www.autoblog.com/2008/08/14/10-reasons-why-auto-sales-are-dropping-besides-the-economy-and/http://www.autoblog.com/2008/08/14/10-reasons-why-auto-sales-are-dropping-besides-the-economy-and/#commentsFiled under: , ,



Think of it as the Carsumer Price Index; new car sales are under pressure from other factors besides fuel prices and economic slowdowns, much like the Consumer Price Index strips out the price of fuel and food and then makes a proclamation about the economy. At least that's the theory that Pinny Cohen posits. Who's Pinny Cohen? As far as we know, he's an average joe with an internet rostrum and a budding web entrepreneurship who makes some salient points. He's also an Autoblog reader and he's got something to say, so we thought we'd share.

If it's not $4/gallon gasoline or economic stagnation that's putting the brakes on car sales, what else could it be? Cohen posits that the better construction of cars these days, a glut of leases that have led to a tsunami of used cars, and online shopping and telecommuting keeping people home are all contributing factors, says Pinny. Something's got to give for consumers, and new car sales seem to be the weakest link. Every automaker will eventually accept these facts, but the question is whether some will have to close up shop in order to realize that it's a brand new day of decreased production. Check the link to read Cohen's thoughts and let us know if you agree or think of more reasons why besides the crappy economy and high gas prices that new vehicle sales are down.

[Source: PinnyCohen.com, Photo: DealerConnection.com]

10 reasons why auto sales are dropping (besides the economy and fuel prices) originally appeared on Autoblog on Thu, 14 Aug 2008 19:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>car salescar sales downCarSalesCarSalesDownfuel pricesFuelPricespinny cohenPinnyCohenThu, 14 Aug 2008 19:31:00 EST<![CDATA[MyGallons lets you lock in fuel prices]]>http://www.autoblog.com/2008/07/04/mygallons-lets-you-lock-in-fuel-prices/http://www.autoblog.com/2008/07/04/mygallons-lets-you-lock-in-fuel-prices/http://www.autoblog.com/2008/07/04/mygallons-lets-you-lock-in-fuel-prices/#commentsFiled under: , ,


UPDATE: The Better Business Bureau apparently has some issues with MyGallons. This post was written several days ago and we were not aware of the dustups at that time.

You can pre-pay for cellphone minutes, here in New England it's popular to lock in your heating oil price for the winter, and now you'll be able to bank gallons of gasoline on a debit card, thanks to MyGallons.com. While you're screwed out of the money if the price of fuel drops, it's not looking like that's going to happen soon. MyGallons uses your zip code to determine what price you'll pay to add gallons to your card, which is accepted just like a normal debit or credit card at most fuel stations. It's a creative way to smooth out the fluctuations in the price of fuel, and it could also be a boon to those wanting to run a tighter budget, or at least know what they'll be spending on fuel for a given time period, as they've pre-bought. Shoot, it could even be a decent gift idea for the person who has everything!

[Source: Reuters]

MyGallons lets you lock in fuel prices originally appeared on Autoblog on Fri, 04 Jul 2008 11:02:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel cardfuel costfuel pricesFuelCardFuelCostFuelPricesgas cardgas pricesGasCardgasoline cardgasoline priceGasolineCardGasolinePriceGasPricesmygallonspre paypre-payprepayFri, 04 Jul 2008 11:02:00 EST<![CDATA[Cops now charging for gas used to catch you]]>http://www.autoblog.com/2008/06/19/cops-now-charging-for-gas-used-to-catch-you/http://www.autoblog.com/2008/06/19/cops-now-charging-for-gas-used-to-catch-you/http://www.autoblog.com/2008/06/19/cops-now-charging-for-gas-used-to-catch-you/#commentsFiled under: ,


The high cost of fueling up is affecting just about everyone at the pump. But it's also costing us at the grocery store, the airport, and, beginning July 1, it could bump up the cost of your speeding tickets, too. When a north Atlanta suburb spent 60% of its police fuel budget in only five months, it was faced with cutting back on patrols, raising taxes for all, or passing the cost on to speeders. The final decision was a no-brainer for the city of 7,700, and beginning in July, all speeders will be slapped with an additional $12 fuel charge. The added charge will raise ticket revenues up to $26,000 or more, and the costs will only be passed on to those who break traffic laws and not every citizen. The Atlanta city council has unanimously passed a similar proposal to include a $10 - $15 fine for ticketed motorists, and many more cities are sure to follow suit in short order. Yet another reason to get a really good radar detector. Thanks for the tip, Brad!

[Source: AOL Money, Photo by Malingering | CC 2.0]

Cops now charging for gas used to catch you originally appeared on Autoblog on Thu, 19 Jun 2008 15:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel pricesfuel surchargeFuelPricesFuelSurchargepoliceThu, 19 Jun 2008 15:55:00 EST<![CDATA[How gas prices work]]>http://www.autoblog.com/2006/09/24/how-gas-prices-work/http://www.autoblog.com/2006/09/24/how-gas-prices-work/http://www.autoblog.com/2006/09/24/how-gas-prices-work/#commentsFiled under: ,

We're certain that we're not the only ones that shake our heads in disgust when we roll by a gas station (and bow our heads in shame when we actually have to fill up). With the price of gas starting to come down, we certainly all are a little puzzled about what influences fuel prices. Howstuffworks.com comes to the rescue with a overview about what factors control the price of gasoline and the price of oil. While this is far from an exhaustive analysis at the elements that influence energy prices, the article does provide more in-depth analysis about the hot button topics in the economics of fuel.

The only explanation that we did not see is how oil companies are making record profits with oil AND its derivative product, gasoline, at such high prices. We want to see a step by step look at each stage in the process from well to wheels, and where each side takes its cut. Otherwise, the howstuffworks.com article does give more time to the subject than we typically see in other media outlets. So get going and find out what goes into making a $3.00 gallon of gas.

How gas prices work originally appeared on Autoblog on Sun, 24 Sep 2006 10:08:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel pricesFuelPricesGasgas pricesgasolinegasoline pricesGasolinePricesGasPricesOiloil pricesOilPricesOPECSun, 24 Sep 2006 10:08:00 EST<![CDATA[Ohio has nation's cheapest gas]]>http://www.autoblog.com/2006/09/16/ohio-has-nations-cheapest-gas/http://www.autoblog.com/2006/09/16/ohio-has-nations-cheapest-gas/http://www.autoblog.com/2006/09/16/ohio-has-nations-cheapest-gas/#commentsFiled under:



According to AAA, our friends in the Buckeye State are benefiting from the end of the summer driving season by registering the lowest gas prices in the nation. Ohio residents are enjoying a 30-cent discount on fuel, compared to the national average, partly due to seasonal demand and increased competition between the purveyors of the go-juice.

The average cost of tank of unleaded in Ohio is $2.29 a gallon, which in comparison to this writer's residence in the Golden State, is a full 58 cents less than the fill-up station down the road. Fine, we'll see your cheap gas and raise you our ability to go skiing in our shorts.

[Source: NewsNet5.com]

Ohio has nation's cheapest gas originally appeared on Autoblog on Sat, 16 Sep 2006 14:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>aaablogging ohioBloggingOhiobuckeye stateBuckeyeStatefuel pricesFuelPricesgas pricesGasPricesohioSat, 16 Sep 2006 14:55:00 EST<![CDATA[FuelCard.org launches in the United States]]>http://www.autoblog.com/2006/06/13/fuelcard-org-launches-in-the-united-states/http://www.autoblog.com/2006/06/13/fuelcard-org-launches-in-the-united-states/http://www.autoblog.com/2006/06/13/fuelcard-org-launches-in-the-united-states/#commentsFiled under: ,

Mimicking a similar project in the UK, a US-based organization has launched FuelCard.org to help drivers save some cash on gas. The idea is seemingly simple: get a bunch of people together and give them a gas discount card, promise a popular, nationwide gas station chain that the group of people will only buy their gas, and the card holders in question get 10-20 cents off per gallon of gas. The site evidently started up last week, so we're not sure who the gas retailer will be, but if this program flies, it could be a great thing for many of us looking at $50+ a tank.

Thanks to Bob for the tip.

[Source: FuelCard.org]

FuelCard.org launches in the United States originally appeared on Autoblog on Tue, 13 Jun 2006 16:25:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuelfuel pricesFuelPricesgasgas cardgas pricesgas stationGasCardGasPricesGasStationrisingTue, 13 Jun 2006 16:25:00 EST<![CDATA[States to drop gas taxes?]]>http://www.autoblog.com/2006/05/13/states-to-drop-gas-taxes/http://www.autoblog.com/2006/05/13/states-to-drop-gas-taxes/http://www.autoblog.com/2006/05/13/states-to-drop-gas-taxes/#commentsFiled under:

With gas prices rising politicians in states like Maryland, South Caroloina, Connecticut, Georgia, New York and Nevada are considering reducing or even eliminating their state's gas taxes to ease the burden on the average citizen.

This seems to us like a shortsighted solution designed more to curry favor with voters than actually ease anyone's financial burden. As the article from The Detroit News points out, state and federal gas taxes are levied when retailers buy their gas from distributors, so there's no guarantee those savings would be passed on to consumers instead of just being absorbed by retailers.

Add to that the fact that most state budgets have been operating at or near deficit levels and reducing or eliminating a major source of income seems like an idea that will lead to more potholes and less teachers in public schools.

Check out the article and let us know in the comments whether or not you think repealing state gas taxes is a good idea.

[Source: The Detroit News]

States to drop gas taxes? originally appeared on Autoblog on Sat, 13 May 2006 06:54:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>fuel pricesFuelPricesgas pricesgas taxGasPricesGasTaxoil pricesOilPricesrepealSat, 13 May 2006 06:54:00 EST<![CDATA[Should consumers brace for a return to the double-nickel?]]>http://www.autoblog.com/2006/05/04/should-consumers-brace-for-a-return-to-the-double-nickel/http://www.autoblog.com/2006/05/04/should-consumers-brace-for-a-return-to-the-double-nickel/http://www.autoblog.com/2006/05/04/should-consumers-brace-for-a-return-to-the-double-nickel/#commentsFiled under: , , ,

Spurred by high fuel prices, New Jersey governor Jon Corzine has introduced a plan to decrease fuel prices that would bring back the 55 MPH speed limit. OK, so it's only a proposal, and it's only one state, but pundits suggest that something like this could spread like wildfire in today's current tinder-like political climate. (As evidence of how weird everything tends to get when prices at the pump jump up, note that Republicans are suggesting oil companies pay a windfall tax to support a $100 fuel rebate).

As The Auto Prophet points out, fuel prices haven't really resulted in people driving under the current speed limit, so such a move would seem to make little sense from a practical standpoint. Of course, cognitive reasoning rarely gets in the way of a successful career in politics, though.

Sammy Hagar could not be reached for comment.

[Source: The Daily Record]

Should consumers brace for a return to the double-nickel? originally appeared on Autoblog on Thu, 04 May 2006 13:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>55 mph55MphCannonballdouble nickelfuel pricesFuelPricesgas taxJon CorzoneJonCorzoneSammy HagarSammyHagarspeed limitspeed limitsSpeedLimitThu, 04 May 2006 13:03:00 EST<![CDATA[Oil tops $75/bbl to conclude week of record prices]]>http://www.autoblog.com/2006/04/23/oil-tops-75-bbl-to-conclude-week-of-record-prices/http://www.autoblog.com/2006/04/23/oil-tops-75-bbl-to-conclude-week-of-record-prices/http://www.autoblog.com/2006/04/23/oil-tops-75-bbl-to-conclude-week-of-record-prices/#commentsFiled under: , , ,

The usual suspects were all present this week - fear and uncertainty over the possibility of military action in Iran, civil unrest in Nigeria, and the seemingly inelastic and insatiable demand for energy 'round the world - and oil ended up setting record highs nearly every day this week. Friday's market close saw the black bubbly stuff top the $75 mark, topping off a five-day increase of 8.4%. As many are quick to point out, prices are still 20% lower than those of 1980 when adjusted for inflation, but give it a couple a weeks and we'll probably be there. Keep in mind that this isn't investment advice; rather, that comes with a CNN/Money piece that recommends two oil stocks while staying away from the auto sector.

Then there are gasoline prices, which are tracing their own upward trajectory on the heels of the MTBE-to-ethanol changeover. The "S" word - shortages - is now being thrown around the East Coast. If any readers have information on this, please speak up in the Comments.

On a personal note, we here at Autoblog had the opportunity last night to personally verify that at least one local fuel station has a pay-at-the-pump limit of $100.00 per transaction. Ouch.

[Sources: MSNBC, CNN/Money]

Oil tops $75/bbl to conclude week of record prices originally appeared on Autoblog on Sun, 23 Apr 2006 14:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ethanolfuelfuel pricesFuelPricesgasgas pricesgasolineMTBEoiloil pricesOilPricesSun, 23 Apr 2006 14:10:00 EST