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Gas prices keep climbing even as oil prices drop

May 29th, 2008 . by TexasFred

NEW YORK (AP) - The gasoline price record keeps getting broken with each passing day. AAA puts the national average for a gallon of regular at a record $3.95. It’s jumped 35 cents in the past month and is 76-cents-a-gallon higher than a year ago.

If you need premium, it’s also never been more expensive. The auto club says the national average for premium is $4.35. That’s an 84-cent-a-gallon jump over last year.

Oil prices fell back Thursday ahead of a report expected to show U.S. inventories of crude and petroleum products grew last week.

Prices remained volatile, though, buffeted about by threats against Nigerian oil facilities, worries about falling gasoline demand in the U.S. and a strengthening U.S. dollar.

By midday in Europe, light, sweet crude contract for July delivery was down 65 cents at $130.38 a barrel in electronic trade on the New York Mercantile Exchange.

In London, July Brent crude fell 86 cents to $130.07 a barrel on the ICE Futures exchange.

Full Story Here:
Gas prices keep climbing even as oil prices drop

There are many things that can be said regarding this oil and fuel pricing crisis and much of it can be summed up in 2 words blurbs that are so easy to understand that even the dimmest of libbers should be able to comprehend their meaning…

Not the real cause: oil shortage, short supply, high demand

The real reasons we have incredibly high gas prices: price gouging, greedy bastards, Big Oil, rich Arabs, profit taking, record profits, price fixing, consumer abuse, rich executives, massive bonuses, tree huggers, spotted owl, snail darter and the list goes on and on, but I think you get the idea…

I don’t begrudge any company the opportunity to make money, that’s what free enterprise is all about, but when the oil companies sit back on their butts and tell us how much they are doing for us, and what it’s costing them to do it, well, I am astounded that the American consumer is falling for that line of BS.

I know a little bit about business, and you don’t have all those operating costs that Big Oil is saying they have and those supposed costs being what is driving them to record levels of profit, BILLIONS of dollars in profit, look folks, profit is figured in AFTER all costs of doing business are taken out, these record profits are just that, profit, financial gain, money in the pockets of the Big Oil executives, profit is what’s left after ALL operating expenses are covered…

By ALL, I mean exploration, drilling, production, transportation, refining, marketing, all of it, those costs are, or should be figured in before so much as a dollar of profit is figured into the equation, otherwise, if Big Oil was laying all that money out there and not making anything in return, it would be called losses, record losses, and I don’t recall hearing of any Big Oil companies that were recording record losses

We’re being taken for a ride my friends, and the Big Oil companies aren’t even greasing it before they stick it to us…

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Gas roars higher, pressuring holiday travelers

May 23rd, 2008 . by TexasFred

NEW YORK (AP) - As consumers began hitting the road Friday for the Memorial Day weekend, they faced the sobering reality that it now costs $87 to fill a Ford Explorer SUV, up $14 from last year, and $72 to fill a mid-sized Honda Accord, up $12.

That’s because gas prices, which took another jump higher overnight, are up nearly 20 percent, or 65 cents a gallon, over the past year to average nearly $3.88 a gallon nationally. But unlike this time last year, when gas prices were at their peak for 2007, pump prices now show no signs of halting their daily assault on the record books.

“Four dollars (a gallon) is a done deal now,” said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill. “We could go significantly above that.”

On average, drivers in Alaska, Connecticut, California, New York and Illinois are already paying more than $4 for gas, and an increasing number of stations around the country are posting prices higher than $4. In Alaska, where the average price of regular gas stood at a national high of $4.181 Friday, it now costs $94 to fill an Explorer, and $77 to fill an Accord.

Nationally, the price of a gallon of regular gas rose 4.4 cents overnight to a record average of $3.875, according to AAA and the Oil Price Information Service. Prices are headed even higher in coming days because of oil’s dramatic rally this week to a new record over $135 a barrel.

“We’re going to see some more significant increases here in light of what we’ve seen in the last few days,” said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, N.J.

Oil prices fluctuated Friday after as investors placed bets before the long holiday weekend. Light, sweet crude for July delivery rose 34 cents to $131.15 a barrel on the New York Mercantile Exchange, but alternated between gains and losses.

“This is just pre-weekend volatility,” Ritterbusch said.

Full Story Here:
Gas roars higher, pressuring holiday travelers

I have an idea, let’s call the big oil companies bluff, ALL Americans stay home for the long holiday weekend, just stay home, spend time with the kids, cook out on the grill, chill a melon, do the holiday in your back yard, and don’t buy any gas for 3 days, that’ll cast the gauntlet down, and throw the oil folks into a tailspin as we slap them back to reality…

It’s the perfect time folks, have a safe Memorial Day, enjoy it and be frugal!!

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