[deh]

Big gas price surge soon?
Report says pump prices could shoot up by about 25 cents a gallon in coming days to new record.
March 4, 2005: 8:11 AM EST

NEW YORK (CNN/Money) - Gasoline prices could rise by about quarter a gallon in the coming days to new record levels, according to a published report Friday.

USA Today, quoting energy experts and analysts, reported that a gain of 24 to 28 cents a gallon is possible as stations scramble to keep up with recent increases in oil and wholesale gasoline prices.

An increase of 24 cents a gallon would put the average retail price of a gallon of regular gas at about $2.16 a gallon, according to the Energy Information Agency, the Department of Energy unit that tracks prices. The EIA's survey put the average price at $1.928 in Monday's survey, up 2.3 cents from a week earlier.

The EIA's earlier record of $2.02 a gallon for regular was hit in May of 2004.

Oil prices hit $55.20 a barrel in trading Thursday, which was within 47 cents of record intra-day levels for crude oil. But prices retreated about $2 a barrel since that high. Gasoline futures set a record at $1.5450 a gallon.

The paper reported that even higher prices could be ahead as increased warm weather driving pushes up demand.

Tom Kloza, senior analyst at the Oil Price Information Service, told the paper that retail gasoline prices lag increases in wholesale prices since Christmas by about 25 to 28 cents a gallon. He says he believes the record prices won't come until the latter half of March.

But Peter Beutel, president of energy tracking firm Cameron Hanover, said a spike of 24 cents a gallon could happen in the coming days.

"It's going to be brutal, horrendous," he told the paper.

[jd_957]

AAA's Daily Fuel Gauge Report is updated each business day and is the most comprehensive retail gasoline survey available

http://www.fuelgaugereport.com/

[Stoner]

I noticed the pumps were up about 20 cents this morning compared to several days ago.
2.199 for regular Shell.



BTW.........Hi deh

[deh]

Hi Stoner, Hope all is well with you.


I've noticed them creeping up. Wonder if the 25 cent projection is on top of this. For some reason i'm thinking it is.
*OUCH*
and i have one of those big tank gas guzzlers. Nahh not really i get good mileage but the tank is big.

[hotskates]

Well, at least according to John Stossel, gas is still cheaper than bottled water

[Stoner]

I have a well .....water that is


Had to go out on a quick errand, the Shell that was 2.199 is now 2.099/gal.
And his competition came down , too......Guess the managers were watching the TV news a little too much, and not their competition enough _

[MSM Hobbes]

Cleveland prices were about 1.89 when left there Wed afternoon, and here near Chattanooga they are now 1.84 [that's after the prices here jumped ~12 cents in the past 2.5 days.]

[linskyjack]

To paraphrase PT Barnum-----There is a sucker born every minute---In this case we are the suckers and we will keep paying and paying because the fox is guarding the henhouse.

[jd_957]

Just for your information. and anyone else who cares.

Barnum is also affiliated with the famous quote "There's a sucker born every minute." History, unfortunately, has misdirected this quotation. Barnum never did say it. Actually, it was said by his competitor.

the above was found here.

http://www.historybuff.com/library/refbarnum.html

[moonmist]

Hmmmmmmmm gas price today is 88.9 cents a liter........ was 84.9 last week

[MSM Hobbes]

a liter??? What in tarnation is a liter??? We measure things by gallons. Gallons. If you are going to communicate, at least convert it to our language. Thanks!

[bizzt]

Originally Posted by moonmist

Hmmmmmmmm gas price today is 88.9 cents a liter........ was 84.9 last week

Here in AB we are 80.9 cents a litre... Hate to see it go up !!! Stupid Market ... I think it's those French Canadians

Or 88.9*4=3.55 a Gallon Canadian so 2.62 cents a Gallon American!
80.9=323.6 a gallon Canadian so 2.39 cents a Gallon American!

[WarC]

Originally Posted by MSM Hobbes

a liter??? What in tarnation is a liter??? We measure things by gallons. Gallons. If you are going to communicate, at least convert it to our language. Thanks!

[Wet Chicken]

Originally Posted by linskyjack

In this case we are the suckers and we will keep paying and paying because the fox is guarding the henhouse.

...and driving a big 'ol gas guzzling SUV

[Wet Chicken]

Originally Posted by MSM Hobbes

What in tarnation is a liter???

A redneck explained it to me like this... "I wuz gunna date dis gurl but I didn't want to liter on"