$5/gallon

[SpeedyArizona]

Here's what they're paying in Houston, my brother just sent me this.

 

[bigcat]

can you say price gouging? :damnit: :damnit:

 

[ctbaker]

Holy shnikies!!! I dread when it hits $5 in california... it is getting darn close to $3 for 87 here. I wanted to get a 2007 GT but maybe I'll go for the Prius.. or get a used GT500 in a couple years for dirt cheap when nobody can afford the gas to run it!!

 

[jt14894]

Here's what they're paying in Houston, my brother just sent me this.

The Government needs to step in and do something about it because this is ridiculus. There needs to be some kind of price control to stop this madness.

 

[SpeedyArizona]

We've already tapped our national oil reserves, not much else we can do. My brother talked to the cashier of Casey's and he said it should be up to $5.60 tomorrow.

 

[Berserker]

After the saudi's announcing their pick up to offset the problem and the announcement of a release of the strategic reserves the only thing that didn't happen was the president's stoke of a pen capping wholesale prices. Why oh why he hasn't done this I can't say but I'm sure some have reasons for this. I'd yell about this no matter who was president so i'm not getting political.

 

[Jenns01TA]

Coast Guard reported 20 lost oil rigs in the gulf. Errrggghhhh...

The Gulf area near Lousianna accepts about 40% of the imported crude shipments to the US. So even if we get an influx of Crude, we still need to be able to refine it. All petro products across the board are going to increase dramatically, not just gasoline.

Things are going to get UGLY. Oil price spikes prior to this disaster and the inverted Treasury Yield on 10 years vs. short term has been an indication that the state of our economy is not as strong as many have been swayed to think.

Jenn

 

[SpeedyArizona]

I think that prices might accually hit $8 in the southern states. I'm already paying nearly $3.50, and I can't afford much more!!

 

[Berserker]

OMG, this blows. I just got my mustang this week and next week it could be used only for short recreational Sunday drives.

 

[Jenns01TA]

Yeah...

But, we still have more than many... Sunday is better than nothing. Let's hope we don't start waiting in line for rationed gas like in the mid 70s.

I am actually considering a motorcycle again. I am just not sure how straddling a 600cc motorcycle in executive attire with helmet head is going to impress my employer. I need to think of something in the next few months. The cycle will not be viable for winter riding either...God, can it be time for an.........ECONOMY CAR........?? (wwwaaaaaaaaaaaa)

Jenn

 

[OBleedingMe]

What really gets my gander up is how in Venezuela they pay $0.16 a gallon, in Kuwait they pay $0.68 a gallon, in Caracas they pay $0.12 a gallon, etc.

It costs OPEC about $4.00 to produce a barrel of oil, yet we are being charged $70 a barrel.

 

[Mr_K_Code65]

Yeah and now just wait 'til the Chinese start consuming more and more of the crude now that they're getting off their bicycles and into cars (hope they don't get SUV's)!

 

[Blk05Retro]

Where was that in Houston? I live out on the west side and the highest I saw last night was 3.31.

 

[Mickey21]

My sister is on east side and she said it is only 3.35 for 87 octane. That $5 seems BS... But yeah it is going up... As long as they will sell me gas, I am still not worried. I'll pay the prices, just wish it wasnt so...

 

[PHINS]

That is some serious gouging. I was just out here in Houston and saw gas for 2.79

 

[RisingForce]

Bush needs to take this more seriously than it is!
US has 600 million barrels of reserves. If we would release "only" 1 million of it, it would result in a decrease of $1/gallon in average over the country,,, question is why isnt this happening? Answer is simply because our president is also involved in oil buiensess on the side and it would'nt be in his best interest to do so.

 

[SpeedyArizona]

We can't release enought petroleum into the system that it will cause a huge change immediately. After we release the reserves , it would only cause about a $0.10 change.

This $5 price was near the edge of Galveston bay.

 

[RisingForce]

We can't release enought petroleum into the system that it will cause a huge change immediately. After we release the reserves , it would only cause about a $0.10 change.

This $5 price was near the edge of Galveston bay.

IF we release 1 Million barrels, we sure can see a more noticeable price reduction than the 100K barrels theyre releasing now.

 

[Klay]

Instead of making baseless assumptions why don't you actually research how long our reserves would last if we released it? If the price of gas went down $1 like you claim, how long do you think that would last? 1 million barrels isn't that much when you consider how much we consume here.

 

[Vandil]

A release from the reserve has no effect when you don't have the refining capacity/infra structure to actually do anything with it.