Gas price predictions

[JustRalph]

Anybody care to speculate where the run up ends this year?

I will predict a high of 3.55 national average come July or August

[highnote]

Anybody care to speculate where the run up ends this year?

I will predict a high of 3.55 national average come July or August


That sounds like a reasonable estimate. It's already higher than that here in Connecticut.

One thing I like about going on vacation is that gas is cheap everywhere we go -- even at $3.55 per gallon!

[Tom]

Is it June already?
$3.29 at the corner.

[RaceBookJoe]

Gas shouldnt have a problem hitting $4 in 2011 and $5 in 2012. My guess on oil would be $110 easily with $150 a possibility. Now here's the important question...How can you profit from this rise in prices??? rbj

[lamboguy]

a $4.00 average for a year will croak this economy. maybe not the stockmarket, but the people living here. they will probably print up more money to pay their bills and everything that you need will keep going up and up in price.

i would tell you to buy gold, but you can never profit from that, you can only stay even no matter what it goes up in price vs. the dollar.

to profit you are going to need to invest in emerging countries throughout the world that are rich in natural recources. rare earth metals, fertilizer, food and water, basic materials.

[BlueShoe]

$3.29 at the corner.
And going higher soon. Still the bureaucrats cater to the eco-freaks and refuse to let us drill and refine our own oil, insisting instead that we purchae it at inflated prices from tyrant nations.

[FantasticDan]

Just as it was a few yrs ago, the bubble in oil prices is being caused by market speculation. There is plenty of oil available and in storage. There are even existing wells sitting idle.

[lamboguy]

Just as it was a few yrs ago, the bubble in oil prices is being caused by market speculation. There is plenty of oil available and in storage. There are even existing wells sitting idle.you could be right, but since oil is priced in dollars and the dollar has weakened a price rise would be evident. the thing about it this time is that other countries in the world are now functioning and we are disfunctioning. we have sent our manufactuting jobs overseas and have put people to work in other places that now demand oil. as we know when oil gushes you must find a home for it otherwise they close up the wells.
i have a feeling that natural gas will get us out of the financial mess that this country is in today. there is plenty of that stuff here and its alot cheaper than oil.

[delayjf]

Still the bureaucrats cater to the eco-freaks and refuse to let us drill and refine our own oil, insisting instead that we purchae it at inflated prices from tyrant nations.

And if we don't start allowing the off shore drills to start production again, we will make a bad situation even worse.

It will also be interesting to see how the oil companies with refineries in CA respond to the state mandated cap and trade regulations that will be phased in within the next few years. Will they shift refining to other states (if they can). Will they simply slow production in CA to keep within the regulations, who knows.

[BlueShoe]

It will also be interesting to see how the oil companies with refineries in CA respond to the state mandated cap and trade regulations that will be phased in within the next few years.
Another blow to the states staggering economic situation. California is already among the highest in the nation gas prices, and even higher pump prices, likely boosted by higher state taxes, are surely coming. A quick check of gasbuddy a few minutes ago showed prices in neighboring Arizona averaging 40 cents a gallon cheaper than in California.

[mostpost]

Is it June already?
$3.29 at the corner.
You must live near me. $3.29 at my corner too.

[PaceAdvantage]

Gas shouldnt have a problem hitting $4 in 2011 and $5 in 2012. My guess on oil would be $110 easily with $150 a possibility. Now here's the important question...How can you profit from this rise in prices??? rbjIf you think Oil is going to $150, then by all means, open an online trading account and buy as many crude oil futures contracts as your risk tolerance will allow.

Oil is trading at around $91 right now....a rise to $150 represents about a $60 increase in the price of oil...at $1,000 profit per $1.00 increase per contract, you do the math...that's about $60,000 profit per contract...you need about $5,000 in your account for each contract you wish to purchase....at least where I trade...

[Tom]

You must live near me. $3.29 at my corner too.
:eek::eek::eek:

Kidding!;)

[Valuist]

you could be right, but since oil is priced in dollars and the dollar has weakened a price rise would be evident. the thing about it this time is that other countries in the world are now functioning and we are disfunctioning. we have sent our manufactuting jobs overseas and have put people to work in other places that now demand oil. as we know when oil gushes you must find a home for it otherwise they close up the wells.
i have a feeling that natural gas will get us out of the financial mess that this country is in today. there is plenty of that stuff here and its alot cheaper than oil.

Feels like 2008 all over again. But when the commodities started crashing, the elevator went down in a hurry. But unlike other bubble bursts, its amazing how quickly they came back.

There also is the possibility that there was a lot of margin calls that triggered sell orders on commodities in 2008. Many hedge funds had huge profits in commodities but when they started getting hit w/redemptions, they had to sell their profitable positions.

[Valuist]

You must live near me. $3.29 at my corner too.

Are you in the city or suburbs? In the NW suburbs its about $3.15.

[HuggingTheRail]

Here in Vancouver, Canada we are paying about $1.20/litre, which equates to about $4.54/gallon

[mostpost]

Are you in the city or suburbs? In the NW suburbs its about $3.15.
I am in the western suburbs. The station I am referring to is about two miles south of the IKE on Des Plaines Avenue, which is 7900 west approx. It's a BP which tends to run three to ten cents higher than average for this area.

[bigmack]

I am in the western suburbs. The station I am referring to is about two miles south of the IKE on Des Plaines Avenue, which is 7900 west approx. It's a BP which tends to run three to ten cents higher than average for this area.
That's in the 4500 block of DP Ave & the Citco up the street is 3.35, blowing to smithereens your theory of them running 3-10 higher.

BAM.

[NJ Stinks]

I paid $2.93 a gallon on Thursday in NJ.

[mostpost]

That's in the 4500 block of DP Ave & the Citco up the street is 3.35, blowing to smithereens your theory of them running 3-10 higher.

BAM.
Who are you getting your information on Chicago area geography and gas prices from? It must be Breitbart, Limbaugh or Glenn Beck because it is just as accurate as the political stuff you post.
The station I referred to is at 2600 S. Desplaines. Des Plaines ends at 3100.
There is more than one Des Plaines Avenue in the Chicago area. There is also a Des Plaines River Road. That may very well have a 4500 North, but it would be far from where I live. Closer to Valuist.

I think there may be a Citgo at Roosevelt and Des Plaines. If you really lived in the Chicago area as you claim, you know Roosevelt is 1200 south. I don't know what the prices are there.

What I said was the BP runs 3-10 cents higher than the average. That doesn't mean there can't be a station that is even higher. I was trying to give valuist an idea of prices in this area and you had to make a major deal out of it.

[bigmack]

Who are you getting your information on Chicago area geography and gas prices from? It must be Breitbart, Limbaugh or Glenn Beck because it is just as accurate as the political stuff you post.
The station I referred to is at 2600 S. Desplaines.
You remain borderline loon. While a typo on my part it ain't 2600 it's a bit shy @ 2558. The Citgo is 8500 W. Cermak. Or as you might call it, Sir Mack.

Like the Tennille portion of The Capt & Tennille once sang - You'd better shop around. It's 3.09 up the road a piece.

http://i165.photobucket.com/albums/u70/macktime/300px-Toni-Tennille--the-Captain-56sq-555.jpg

[mostpost]

You remain borderline loon. While a typo on my part it ain't 2600 it's a bit shy @ 2558. The Citgo is 8500 W. Cermak. Or as you might call it, Sir Mack.

Like the Tennille portion of The Capt & Tennille once sang - You'd better shop around. It's 3.09 up the road a piece.

http://i165.photobucket.com/albums/u70/macktime/300px-Toni-Tennille--the-Captain-56sq-555.jpg
You complain about the difference between 2600 and 2558 and I'm a loon. :bang:
Can we agree that gas prices are too darn high.............................................. .................................................. and it's all George Bush's fault. :lol:

[Hanover1]

Here in Vancouver, Canada we are paying about $1.20/litre, which equates to about $4.54/gallon

Was paying this much 30 years ago in Italy.......

[JustRalph]

Toni Tennille...... that brings back memories.......

I nominate Mack and Mostie for the Muskrat love sing a long! :lol:

[ElKabong]

$2.98 here near Dallas, guessing it'll be $3.50 by July.

[bigmack]

I nominate Mack and Mostie for the Muskrat love sing a long! :lol:
As long as I get to wear the hat and he sports a plus size womens pant suit, I'm game.

[wisconsin]

I paid $2.93 a gallon on Thursday in NJ.


Not bad. Do they still have to pump it for you in Joisey?

[NJ Stinks]

Not bad. Do they still have to pump it for you in Joisey?

Yes they do, Wisconsin. Just another in a long line of perks in the Garden State.... ;)

[newtothegame]

I had posted a month or so ago (in a thread where i commented directly to Slew) about the rising gas prices. At that time, it was up about 25% from a week prior.....
I live in a shadow (litterally) of a refinery and we are over 3.00 a gallon.
A few months back, we were at about 2.25...now 3.10....and heading UP!

[JustRalph]

3.23 tonight outside baltimore. for 89 octane

3.04 for 87 octane

[Striker]

Things are looking great for the idiots who have bought cars that take premium gas like myself. Filled up in Kenosha, Wisconsin $3.35 for 93 octane.

[BlueShoe]

After a little time with the gasbuddy site, the cheapest gas in Orange County for 87 is $3.17. Once again, Arizona prices are much less. In Bullhead City, across the river from Laughlin, NV it is 279-281. Tucson drivers pay even less, $2.73. Darned if I know why Arizona motorists are getting a bit of a break that the rest of nation does not.

[bigmack]

Things are looking great for the idiots who have bought cars that take premium gas like myself. Filled up in Kenosha, Wisconsin $3.35 for 93 octane.
What's the deal with premium petrol? I had a 7 series BMW that I only put premium in. Turns out in most cases, gas is gas.

[canleakid]

AS OF 8:00 P.M. HERE IN AUSTIN, TX. $2.83 @ SAMS, BET IT HITS $3.89 BEFORE THE SO CALLED SUMMER TIME!! :)

[Striker]

What's the deal with premium petrol? I had a 7 series BMW that I only put premium in. Turns out in most cases, gas is gas.
I don't know enough about cars to say, just following what the manual and others I have spoke to do with this car. What was funny is that before I bought my car I knew it took premium gas and I asked the salesman what kind of gas this car took and he replied that he didn't know. I would be interested to see if anybody that has owned a car that was supposed to take higher octane gas, and they put in regular octane gas to see what effects there might be long term with that car.

[NJ Stinks]

I don't know enough about cars to say, just following what the manual and others I have spoke to do with this car. What was funny is that before I bought my car I knew it took premium gas and I asked the salesman what kind of gas this car took and he replied that he didn't know. I would be interested to see if anybody that has owned a car that was supposed to take higher octane gas, and they put in regular octane gas to see what effects there might be long term with that car.

I found this article, Striker. Hope it helps. From Edmonds.com:
__________________________________________________

Do You Really Need Premium?

By Philip Reed, Senior Consumer Advice Editor, Edmunds.com | Published Jul 1, 2005

Buying premium gas is like taking vitamins — you can't always feel the difference and yet you know it's the right thing to do. But as gas prices climb, paying the extra dime per gallon for premium is like adding insult to injury. Eventually, the thought is bound to jump into your head: Do I really need to pop for premium?

Until about 15 years ago, if a car called for premium gas and you pumped in regular, the car began to knock and ping and even vibrate. But that was before they essentially put a laptop under the hood of the automobile, said Dr. Loren Beard, senior manager of Environmental and Energy Planning, for Daimler Chrysler. Now, sensors take readings and tune the engine as you drive by adjusting the timing for whatever fuel you put in the tank.

The result is that a car that calls for the mid-grade gasoline will usually run on regular without knocking, Beard said. However, its performance will suffer slightly. How much? It will be perhaps a half-second slower going from zero to 60 mph.

More at the link:

http://www.paceadvantage.com/forum/newreply.php?do=newreply&p=1038275

[Striker]

I found this article, Striker. Hope it helps. From Edmonds.com:
__________________________________________________

Do You Really Need Premium?

By Philip Reed, Senior Consumer Advice Editor, Edmunds.com | Published Jul 1, 2005

Buying premium gas is like taking vitamins — you can't always feel the difference and yet you know it's the right thing to do. But as gas prices climb, paying the extra dime per gallon for premium is like adding insult to injury. Eventually, the thought is bound to jump into your head: Do I really need to pop for premium?

Until about 15 years ago, if a car called for premium gas and you pumped in regular, the car began to knock and ping and even vibrate. But that was before they essentially put a laptop under the hood of the automobile, said Dr. Loren Beard, senior manager of Environmental and Energy Planning, for Daimler Chrysler. Now, sensors take readings and tune the engine as you drive by adjusting the timing for whatever fuel you put in the tank.

The result is that a car that calls for the mid-grade gasoline will usually run on regular without knocking, Beard said. However, its performance will suffer slightly. How much? It will be perhaps a half-second slower going from zero to 60 mph.

More at the link:

http://www.paceadvantage.com/forum/newreply.php?do=newreply&p=1038275
Interesting thanks NJ.

[NJ Stinks]

Interesting thanks NJ.

Just realized I screwed up the link to the article.

Below is the correct link:

http://www.edmunds.com/fuel-economy/do-you-really-need-premium.html