How high will gasoline go in 2012

...and if we don't go to war with Iran, the price will still go up because it rained in Utah or something.

 

Bet we will be looking at $5.25! We are headed for the squeeze.

 

...if it is anything like predicting interest rates, I will bet the opposite of what everyone thinks...going down

 

Phew! Thank goodness I just filled up.

So... if it does rain in Utah, and we do go to war with Iran, and interest rates do something unexpected, then I should start making my own gasoline at home. Got it. Now, where did I put all those C11H24 molecules I've been storing? Do I need some sort of EPA license to do this? I wonder if I'd be violating any local municipal codes in producing gasoline for my own use. Lots of work ahead.

 

Actually, smart money says it takes a bit of a hike, and yeah---$5 would be unreasonable since it's already at three.
There will be a counter-acting force that will depress demand for gas, and this will probably moderate the spike this time. We're in a spluttering economy, there's been no actual interruption in the flow of oil out of the NAG, and domestic production is up.

Of course the inflationary impact of any spike in energy prices will be kind of 'bad' for our economy. However (comma!) there's a billion dollar industry out there that will be working very hard to moderate (or at least obfuscate) this.
http://theweek.com/article/index/22...ar-campaign-did-the-fundraising-hype-backfire

 

if we're prognosticating, based on the feds promises today, i'll go with four bucks. of course, a change in the presidency could also have an effect.

 

Actually... if we go to war with Iran after they try to close the straight... it will be over $10 a gallon...

I remember the embargo days... it was greater than that as a percentage.

 

If making at home, the gasoline molecule C2H5OH is highly recommended.

 

Conspiracy theorists would point out that it is an election year...

Tom

 

that is what oil reserves are for, to keep it from going that high. Plus other oil producing countries will step up to get a slice.

that aside war is unlikely, they flexing muscles to keep prices from falling down.

 

Ummmm... you know our reserves aren't what they used to be Bra... right...

 

Good tip. I have to stop using HowStuffWorks for info on my projects.

And, what is that molecule, anyway? I'd hate to find out too late that I've made a naqahdah bomb, and destroyed half the planet accidentally.

note: gas prices still dropping

 

Actually.......the Strategic Petroleum Reserves weren't really set up so that we could keep the cost of gas down during a temporary interruption of our crude oil supply, but I guess that would depend on what you call "an emergency."
NOW.....f I were a sitting POTUS for example, and I wanted the cost of gas to stay below $5 a gallon to......oh I do not know, maybe keep the electorate happy during the three months preceding an election.
I guess that might be an emergency.

I'm juuuust spitballing here, but I think that I'd set the "emergency" bar a little higher than allowing Angelinos sub $5 a gallon gas to make their 30+ mile daily commutes with.
YMMV.

It doesn't matter. We can only withdraw crude from this stockpile at about one fifth of our daily use rate, so it's really a moot point.

I wouldn't worry about the NAG. At worst, and while we still have an effective military the only thing that terrorists might hope to accomplish is to cause a spike in price from jittery oil speculators, and they've already fired that bolt.

In a few years???
Who knows?

Damn good thing we have oil rich, friendly neighbors to the North.
Awwww crap.
Nevermind.....

 

I was just going to say you've got Tar Sands to fall back on.

Great

 

On January 20, 2009 the national average regular gas price was $1.84 per gallon. It cost around $60 to fill up a working man's Chevrolet Silverado Pickup truck. Today it costs over $110 to fill up that same truck.

Is that a fair comparison? It is truthful but not really fair. Higher gas prices cause a decrease in demand. Higher gas prices result in increases to public transportation budgets.

I actually admit that I am one of the few that actually want to see $5 per gallon gasoline prices. And I do a LOT of driving. There are actually benefits to higher gas prices. Hybrid vehicles such as the Toyota Prius, which most of us drive will hold their values and be worth more. There will be less traffic on the roads making my commute easier and the price of vacation destinations will be discounted.

When I first started driving gas was just over a buck a gallon. $1 was the figure you used when calculating how much gas you needed for a trip. In a couple of weeks, I'm taking another trip to WDW and I now find myself using $3.50 to calculate the cost. I think the $3 is the new "good". We'll see $4 gasoline in 2012 but short of a war, I'm not predicting $5 gas being the norm.

 

Iran threatens to cut oil sales to Europe immediately - Washington DC Foreign Policy | Examiner.com

 

as like a helium balloon, the only way is up. the pharmaceutical company's pay $95 million a year, lobbying congress to keep their profits and practices. using 675 lobbyists to achieve they' goals. out of the fortune 500 company's, the ten pharmaceuticals made more profit than all the other 490 company's combined!!!

 

When I first started driving gas was 17 cents a gallon, full service. For that price the attendant would pump the gas, wash your windshield, check the oil, and give you a free glass or mug as a bonus for filling up.

Those days are certainly gone for good.

Tom

 

Wake me when it hits 10$/gal. Otherwise I don't mind paying 5,6 or 7$/gal. as long as the taxation on that gallon is being put to good use for the common good like public transportation and better infrastructure for cycling. I'm still extremely spoiled by the cheap gas prices I enjoy in the US.