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NEW YORK, Feb 10 (Reuters) - The average price in the United States for a gallon of regular gasoline rose nearly 25 cents in the past two weeks, up steadily since December as refineries passed along their costs, a widely followed survey released on Sunday showed.
* U.S. retail gasoline averages $3.5918/gallon
* Rise comes in response to increases from wholesalers
* Brent crude oil hit nine-month high last week
Gasoline prices averaged $3.5918 per gallon on Feb. 8, up 24.75 cents from Jan. 25, said Trilby Lundberg, editor of the Lundberg Survey.
"The amount of change is very big," Lundberg said.
The retail price of regular gasoline in the United States has risen for seven weeks straight, Lundberg said.
"Now that the wholesale price hikes have accelerated, the need for retailers to raise prices on the street is becoming acute," Lundberg said.
Brent's premium to U.S. oil futures has increased on expectations that Midwest crude stockpiles will remain elevated as constraints on the Seaway pipeline continue to limit shippers' ability to send crude to the U.S. Gulf Coast.....snip~
Gas Prices Jump Nearly 25 Cents In Last 2 Weeks
7 weeks Gas has gone up and now the bad news it will go up more as retailers will have to adjust their price. Obama's 2nd term is just not starting out good. Remember how he was running around with his victory lap. Plus now he just came back from his 2nd vacation in 7 weeks. People are getting back less money. Prices are going up on everything, and he wants to raise the minimum wage.
Course Brent already knows Obama will keep the Midwest stockpiles Right where they are at. 4.10 out in California. Although I have had people telling me Hawaii is paying even more.
I am gonna just ride my bike to work soon as the temp gets up to freezing all day.
Bastards, I need to get gas today.
And before that they went down. Here in Minnesota they were slightly below $3 a gallon for a little bit. It's called the free market and supply and demand.
It costs more in Hawaii because of the added cost of getting the gas out to Hawaii. There are cars on every island (except Niihau) but not refineries! You've got to put it on a boat and take it out there. It costs more in California because of increased demand. Should Obama jump in an demand that the oil companies send more gas to California? Maybe he should just nationalize oil so that he can regulate it...somehow I don't think you're wanting that to happen.
I never have to fill up on the drop, only when it's rising, sucks.
And before that they went down. Here in Minnesota they were slightly below $3 a gallon for a little bit. It's called the free market and supply and demand.
It costs more in Hawaii because of the added cost of getting the gas out to Hawaii. There are cars on every island (except Niihau) but not refineries! You've got to put it on a boat and take it out there. It costs more in California because of increased demand. Should Obama jump in an demand that the oil companies send more gas to California? Maybe he should just nationalize oil so that he can regulate it...somehow I don't think you're wanting that to happen.
I usually try to do that but I have a new car so I am still getting the timing down. I will probably just get half a tank.
I don't usually do that for several reasons, one being in case I need to hit the road during an emergency. But I'm considering a half tank, unless it only continues to go higher, which would be cheaper to fill up now? Arghhhh....
What I heard about 10 days ago makes me think we are near the peak--refineries are switching over blends which is apparently driving up prices some.
It costs more in California because of increased demand.
I keep thinking of when we sold drilling Rights to the Chinese in the Gulf and why we couldn't have gave them to our own people.
I finished reading a book called "$20.00 Per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the better".
Fact: Crude oil is a limited resource.
Fact: Saudi Arabia, the world's largest supplier, is no longer giving out numbers of it's reserve. That's because Saudi production has already peaked, and is now in decline.
Fact: The easy to obtain crude oil has been obtained. We are now extracting the not so easy to obtain crude oil. And it gets harder every day. Yes, there is much oil still in the ground, but when you get to the point that the energy it takes to extract it is greater than the energy yielded, you have reached what is known as a "sink", and that oil will remain in the ground forever.
Fact: The price of gasoline is going to rise. There is absolutely nothing we can do about it.
Fact: As the price of gasoline continues to rise, alternative sources of energy will become cheaper than oil.
Fact: We will adapt, and there will be no "end of the world" scenario. In fact, many companies are adapting right now, and are becoming more profitable because of their efforts. Take Fedex, for example. On the East Coast, most Fedex delivery trucks now run on alternative energy sources.
Fact: Nationalization of the oil companies will not change the fact that crude oil is running out. Are the oil companies screwing us right now? Of course they are. They see the end of the road, and are doing their best to make their last days their richest.
Question: Should government get involved? Yes and no. No, they should not nationalize the oil companies, or regulate how much they charge. And yes, the government should invest in alternative technologies, and help move them along, until private enterprise can take the wheel on these technologies. The faster we move to alternative fuels, the less pain we will have to suffer when the oil supply does begin to collapse.
What I heard about 10 days ago makes me think we are near the peak--refineries are switching over blends which is apparently driving up prices some.
It costs more where the fuel blend standards differ. Oil costs more in dollars due to other than "free market" factors.
Why Are Gas Prices Going Up When Demand Is Going Down? – Feature – Car and Driver
Wouldn't have made a difference except for where the profits go. The price is going to be the price unless we heavily regulate or nationalize the industry.
$4 per gallon? How about $8-9 like we are paying here? :fly:
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