Current Gasoline/Petrol Price$

srmeaney · 2005-09-18 18:44:51

*Price of gasoline drops in my area by 10 cents per gallon. Average price for regular unleaded is $2.89; supreme is $3.09.
Sam's Club is selling for $2.87 per gallon reg/unleaded, as are two other discount stations.
--Cindy

Expect the price to double this winter with across the north shortages.

Grypd · 2005-09-23 10:19:20

Oil Companies sued for Hurricane Katrinas damage

Exxon Mobil Corp, Chevron, Shell Oil, BP and several exploration and pipeline companies are being sued for damages and cost of repairs to New Orleans over the dredging and reduction of the coastal land in front of New Orleans that allowed Katrina to flood the city.

srmeaney · 2005-10-01 00:56:46

http://ntnews.news.com.au/common/story_ … 02,00.html

USA sacrifices stance on human rights vs Saudi Arabia in face of high oil prices.

John Creighton · 2005-10-01 12:56:04

http://ntnews.news.com.au/common/story_ … 02,00.html
USA sacrifices stance on human rights vs Saudi Arabia in face of high oil prices.

Huh, I never thought the US would give up Saudi oil. I guess they had plans to do just that. I didn't konw.

SpaceNut · 2005-10-20 10:07:33

And as the price of oil continues to rise and lines for it get longer we remember back to a time in the 70's when we have seen this all before. There were efforts to combat the high fuel costs with all types of fuel mizers and other gadjetry that vanished shortly there after from the consumers eyes.

This manufacturer is making a new type of engine
The Axial VectorTM Engine

The engine has been designed to incorporate modern materials and technology such as piezoelectric valves, piezoelectric fuel injection, oil cooling only (no radiator), elimination of piston rings, self-starting engine (no conventional starter), ceramic cylinder sleeves, plasma ignition and more.

Grypd · 2005-10-24 14:26:44

Iraqs oil industry has ground to a halt. It is due to a combination of sabotage, bad weather and the very slow repair/modernisation to Iraqs oil infrastructure

BBC Article, Iraqi oil exports grind to a hault

SpaceNut · 2005-10-24 19:45:33

Well with a reduction in fuel being available in that nation there will be hopefully less car bombs that the insurgents will be able to set off near any and all troops.

Palomar · 2005-10-25 07:36:17

*Prices have finally and noticeably dropped, thank goodness.

Average price for regular unleaded around here is $2.71 (was $2.99 just last month).

Super unleaded is $2.81, Supreme $2.91.

I really hope to see it at $2.25 or less by year's end. Will we ever see gasoline prices below $2 again? I wonder (and worry).

Last evening my husband asked what the price per gallon was when I first moved here in 1992. IIRC, it was 0.94 cents per gallon!

--Cindy

SpaceNut · 2005-10-25 07:50:28

Up here the prices have fallen even further to about $2.49 for regular.

SpaceNut · 2006-04-23 20:33:29

It is hard to believe that it has been 6 months since prices began to fall for the winter and now that it is over we are already back to where we were at $2.83 a gallon for gas.
Back then as the prices fell the gas companies were stateing record profits and congress start to ask about price gouging. Are we seeing this all over again or is there another reason to raise prices again...

Which brings back the question of how to stop this Specter: U.S. should consider windfall oil tax; Leading GOP Senator blames reduced competition for high oil, pump prices

"I believe that we have allowed too many companies to get together to reduce competition," Specter said.
"They get together, reduce the supply of oil, and that drives up prices," he said. "In the short run, it's hard to deal with it for tomorrow. But I think windfall profits, eliminating the antitrust exemption, considering the excessive concentration of power are all items we ought to be addressing."

Commodore · 2006-04-24 06:24:50

Yes, lets raise taxes. That will make the price go down.

Grypd · 2006-04-24 07:13:15

There are three reasons that oil prices are going up.

1) Chad, Chad is one of the african oil producers but has been in political turmoil for the last 5 years. Though this has been brought to a head by a recent rebel attack on the capital. The rebels are supported by Sudan. Chad has threatened to stop oil production until back fees are paid to her which will be used to buy weapons.

2) Nigeria, Nigerias oil is from a delta where the indigenous people are in open rebellion simply as they are a sidelined and oppressed people. They have taken to destroying oil production and to kidnapping foreign workers so that the world can hear there plight. Of course Nigeria in general is a state which is almost in constant political and religous turmoil but it is the one of the biggest suppliers of oil in the world.

3) Iran, Iran is the single biggest reason for uncertainty in the worlds oil markets and with the fear that actions will be taken against Iran and Irans response there has been panic buying and storing of oil.

SpaceNut · 2006-04-24 07:43:03

Sure but these issues were also present before the one two of katrina and Rita, of which prices were not increasing so wildly...
What does gasoline cost in other countries?

Gasoline prices are going up around the world, but the pain is not being felt everywhere the same way. Drivers in some countries pay a lot more than U.S. consumers. But others pay substantially less. That’s because pump prices don’t reflect just the cost of gasoline.

As of April 10, drivers in the Netherlands were paying the equivalent of about $6.73 a gallon at the pump. The gas itself cost $2.61; the rest — $4.12 — represented tax. That’s a 158 percent tax.
Elsewhere in the industrialized world, the actual cost of gasoline ranges from $2.15 a gallon (France) to $2.61 in the Netherlands. But the after-tax price is $5.80 in France and over $6 a gallon in most other major European countries. Japanese drivers get off relatively easy: taxes there only push pump prices to about $4.50 a gallon.

Commodore · 2006-04-24 12:16:58

Theres been talk that new emmissions standards in some areas now requires ethonal. This makes what limited amounts of ethonal we have expensive, and causes costly upgrades to refinerys.

Rxke · 2006-04-24 15:05:35

you mean ethanol?

darn: as if booze isn't expensive enough already!

noosfractal · 2006-11-03 05:02:52

Peaking of world oil production, an update by Robert Hirsch, Senior Energy Advisor, SAIC:

In-depth introduction to the issue and its complexities. Prepared for the Atlantic Council, 23 October 2006 (735 KB PDF)

http://www.d-n-i.net/fcs/pdf/hirsch_pea … ouncil.pdf

==

Separately, I noticed that some analysts are now including Canada's oil sands in the lists of world proven reserves ...

http://www.eia.doe.gov/emeu/international/reserves.html

... pushing its proven reserves from 14 bbl to 180 bbl, putting it 2nd only to Saudi Arabia. Oil sands production costs are $15/barrel compared to Saudi's $2/barrel.

This is probably the best indication of where the world stands with respect to the prospects for new oil field discoveries - oil sands are it.

Unofficial lists also include Venezuela's oil sands ( 52 bbl -> 360 bbl ! ) but I doubt doe.gov will list the higher figure for some time

There have also been noises about oil shale ( US has 1000 bbl equivalent, equal to some estimates of remaining world oil supplies ), but production costs are closer to $30/barrel and it burns 1 barrel of oil in energy to produce only 3.5 barrels. Even biodiesel does better.

dicktice · 2006-11-05 14:14:15

The crazy thing about oil prices is that increasing brings about the advent of plug-in hybrid electric vehicles all the sooner. It's hard to criticize or dread more expensive fuel if it causes the manufacturers to deliver plug-in's quicker, which will clean up the smog in our cities in no time--admittedly a short term solution, but one that will give us breathing space (excuse the pun) before the next crisis due to overpopulation hits....

noosfractal · 2006-11-05 15:28:05

I remember an environmentalist call for $50/barrel to spur renewables investment - well they got their wish. Hurts the poor disproportionately though - not just in higher gas prices since most goods need oil for transport - it's like an extra GST.

noosfractal · 2007-06-24 15:24:26

S. Korea extracts gas hydrate
http://news.yahoo.com/s/ap/skorea_alternative_fuel

Someone test mining methane hydrates already!

http://en.wikipedia.org/wiki/Methane_hydrate

It'll be interesting to see what price they can achieve.

RobertDyck · 2007-06-25 16:32:09

Here's a chart of crude oil price history:

Notice the highest price was during the Iran/Iraq war. The next spike was during the 1990/1991 Persian Gulf War. There was a small spike due to OPEC quota cuts, but the largest price increase since the Iran/Iraq War was the current Iraq War. The chart is for 1947 through September 2006, but crude oil was above $67 per barrel on June 14, 2007. That's above the peak in 1982. Lesson: war in the Middle East raises oil prices, it doesn't drop them.

SpaceNut · 2008-03-30 20:02:42

Wow gas prices are still not stable as in early Feb they were under the $3 and actually got to 2.92 for a while. The current price thou is well on its way up towards that 4 and no one wants that here. Today was near 3.10 a gallon.
Just filled up with home heating oil and that was 3.79 a gallon which if you rely on federal fuel assistance it will not go very far on those prices.

Yang Liwei Rocket · 2008-04-22 23:42:20

Oil, dollar set records as U.S. stocks slump
GLOBAL MARKETS

Oil surged to a fresh high above $119 a barrel and the dollar slumped to new lows Tuesday, reigniting U.S. inflation worries and underlining the weak state of the world's biggest economy.
The surging oil prices darkened the mood on Wall Street, fueling concerns about how higher energy costs will affect consumer spending the corporate profits.
U.S. and European equity markets also tumbled as several big U.S. companies lowered their profit outlooks due to slowing economic growth, with McDonald's Corp (nyse: MCD - news - people ) reporting its first monthly decline in five years in sales at established restaurants.
U.S. crude oil hit an all-time peak of $119.74, boosted by a jump in demand last month from China, the second-largest energy consumer, and supply worries from key producers Russia and Nigeria.
The euro rose above $1.60 for the first time since its 1999 inception as expectations rise that the European Central Bank's next move may be a hike in benchmark interest rates to curb inflation.
In the United States, the housing market continues to struggle, with the pace of sales of existing-home falling in March while inventories swelled and prices slid, the National Association of Realtors said in a report.
U.S. government debt initially eased on the housing data, but long-dated U.S. Treasuries later rose as the weak stock market revived some of the allure of safe-haven bonds.
Microchip maker Texas Instruments (nyse: TXN - news - people ) said its second-quarter earnings would be weaker than expected due to an uncertain economic situation as it cited customer caution and weak demand for high-end cell phones. The company's shares fell 6 percent.
Health insurer UnitedHealth Group Inc (nyse: UNH - news - people ) posted lower-than-expected quarterly profit and slashed its full-year earnings forecast. Its shares fell almost 11 percent.
"People are looking at (earnings) outlooks. They're worried about the economy. I think you need to see outlooks pick up, and that will help the market come back," said Giri Cherukuri, head trader at Oakbrook Investments LLC in Lisle, Illinois.
The Dow Jones industrial average fell 133.21 points, or 1.04 percent, at 12,691.81. The Standard & Poor's 500 Index declined 15.47 points, or 1.11 percent, at 1,372.70. The Nasdaq Composite Index fell 39.93 points, or 1.66 percent, at 2,368.11.
European shares fell for a second consecutive day, led lower by banks after Royal Bank of Scotland (nyse: RBS - news - people ), Britain's second-largest bank, unveiled a record rights issue to cover increased write-downs on the value of assets.
The pan-European FTSEurofirst 300 index closed down 0.6 percent at 1,304.56 points.
RBS's 12 billion pound ($23.70 billion) rights issue will be the biggest ever, and the bank also said it would sell assets to generate 4 billion pounds in core capital this year to repair one of the sector's most stretched balance sheets.
"This indicates that the crisis is not over yet and that we may see further surprises," said Carsten Klude, chief economist at M.M. Warburg in Hamburg, Germany.
"The risk that profit forecasts are too high prevails. Especially forecasts for the second half of the year are still too optimistic," he said.
RBS shares fell 3.9 percent
In Asia, Japan's Nikkei stock average declined 1.1 percent, weighed by autos and falling financial stocks on worries about the U.S. banking sector.
World stocks on a MSCI measure were down 0.33 percent at 382.69.
Gold futures in New York climbed as a weakened dollar and record crude oil prompted buying. Hawkish comments from European Central Bank policy-makers lifted the euro and gold's appeal as a hedge against the falling U.S. currency.
The dollar fell against major trading-partner currencies, with the U.S. Dollar Index down 0.52 percent at 71.292. The euro rose 0.53 percent to $1.599, after touching $1.6018. Against the yen, the dollar was down 0.48 percent at 102.74.
U.S. spot gold prices rose $8.70, or 0.95 percent, to $922.50.
The comments from ECB officials supported the view that benchmark rates in the euro zone are not likely to come down soon.
Rising inflation stemming from soaring food and energy prices came firmly into view as U.S. crude oil hit a historic high. This gave added impetus to inflation-busting talk from ECB policymakers, determined to contain the impact of rising prices.
U.S. Treasury debt prices were mixed. Gains in longer-dated debt were limited by an unexpectedly mild slide in March home sales, which added to doubts that the Federal Reserve would continue cutting interest rates aggressively.
The news weighed on shorter-dated Treasuries and a heavy slate of government bond auctions added to the pressure.
The benchmark 10-year U.S. Treasury note was up 6/32, with the yield at 3.7043 percent. The 2-year U.S. Treasury note was down 1/32, with the yield at 2.1804 percent. The 30-year U.S. Treasury bond was up 17/32, with the yield at 4.4604 percent

Stormrage · 2008-05-08 09:16:16

I can't believe Americans are complaining. For years they have enjoyed cheap gases. For years they moved out of their cities and lived outside it leaving the poor ethnic communities. For years they have been buying large cars with low fuel economy. Now that it expensive to drive 30 miles to Wal-Mart people are complaining.

Do you know how much petrol costs here in the UK? Since petrol is sold in litres here and in British pounds I'm going to have to do some conversion which may not actually reflect reality.

The cheapest 1 US gallon of petrol in my neighbourhood is 7.9 US Dollars. The most expensive is 8.6 Dollars. In some areas of Scotland during the recent crisis where a refinery was closed and the production of petrol and unexpectedly natural gas was affected for two weeks. Petrol cost 11.11 US Dollars.

I'm not going to lie and say that no one minds the prices. In 2000 a nationwide fuel protest crippled the nation because petrol prices reached 66p per litre (3.5 US dollars per gallon at 2000 before the war changed the value of the dollar).

Now in 2008 when the prices are really high people are grumbling but the only one who are really pissed off are the small haulers. They are being killed by the prices and I've heard that a hundred or so of them have gone out businesses. Not surprising since filling up a single tank costs about 879 US dollars and doesn't last very long.

I'm rambling so I'm going to make my next point very quickly and short. The McCain-Clinton tax cuts are the stupidest thing to have ever been said by a politician since McCain said that Iran trains Al-Qaeda twice and that Vladmir Putin is the leader of Germany.

All it would do is increase demand and prices. What needs to happen is that the US governments need to tax Petrol prices more severly. This will force people to move into cities and live near their work. Also the sales of efficient cars will increase while SUVs will die.

cIclops · 2008-05-08 09:45:33

The UK government has a special tax, the fuel tax is currently about 48% - and added to that is another 17.5% VAT. The product is only about 30% of the price, and only a part of that is the cost of the crude oil. They have been adding a few pence each year to the tax for ages, usually most people don't notice after a few days. That's why nobody complains. They've all been conned.

US petrol prices are much closer to the product price, as crude cost has increased a lot in the last few years this has been very visible in the pump price.

Do we really want our government forcing us where to live - wasn't that what they Soviets did to their populations?

Stormrage · 2008-05-08 17:00:28

Your statement is funny. Because It's the people of USA who are suffering more then the people of UK (expect for small haulers). In the UK the tax from our fuel is spent on public transport. It is possible for me to go to one end of London to another without using a car. It's a bit slower (all though London is a slow city due to congestion) but it's cheaper then a car. From what my family members in America tell me. That's only true for a tiny minority of cities like New York which have a subway system. The other cities in the country has been designed for cars and not pedestrians. A high fuel tax would have given your government enough money to build a proper mass transit system.

People in the UK actually live near their work and not some 30 miles out. Thanks to the high fuel costs people in the UK don't use a lot of petrol compared to Americans and unlike you guys we have been buying fuel efficient cars for years. No SUVs that waste petrol like a leaking bucket. No people whining because prices goes up by a dollar.
Americans dug themselves into their own hole because of cheap petrol prices. You guys lived a lifestyle that was never sustainable and you didn't even learn anything form the 70s. In Europe after the oil crisis of the 70s. The governments put high fuel taxes to stop us from being affected badly by shocks. Thanks to your low prices. When ever the price of oil goes up just a tiny bit. You are affected more then us. We are used to the high prices. We have already adapted.

By the way the government didn't force us to live where they wanted us. They just made it economically unfeasible to live very far out. Which is a good thing because suburbanization is a terrible thing. It destroys good land just so that people can get away from "the hustle and bustle of cities".

It's actually sad since I have several cousins in America but I'm actually find it very funny to see people complain on the internet about the Petrol prices. It's amazing to see how so many people don't realise that the Earth is being destroyed unless they act. Driving 60 miles every day to go to and from your job is a big factor.

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