How high will gasoline go in 2012

The other day, I noticed that premium is past $4/gallon at some stations near me and at those same stations, regular is close at $3.89 and one and $3.95+ at another.

NBC News the other day was predicting high gas prices by Memorial Day. I found a quote from http://www.wivb.com/dpps/money/busi...-top-5-dollars-in-some-areas-nt12-jgr_4041948

 

I haven't seen any Canadian predictions, but I'm going to bet that we'll see the first $1.50/litre gas here (around $5.67/gallon). Already it's at $1.31/litre (nearly $4 a gallon) here in Nova Scotia, so all we really need is a long summer weekend for it to bump up a bit. You guys have it lucky!

 

here I am ready to trade in my 01 4runner for a Chevy Tahoe because I need more space and the ability to trailer my Legend.

oy!

 

Tundra?

Anyways, diesel just hit a record high in the UK today. 1.4305GBP/litre which in today's exchange is $8.564 per gallon. Expecting it to go up higher by Easter time.

 

a pickup truck doesn't do it for me... I'm a NYer thru and thru, not a redneck

 

I got back in at $90, I think we top below $120/bbl unless there is a war or revolution. You can bet if you really think its will go to $5/gal. Oil is currently at 103, I'll get out at $110 or $115.

Don't think it will mater that much in this election. The oil sands oil is still flowing down, its not as if temporarily stoppng the pipeline will stop the mining and refining.

Its not as if stopping the pipeline stopped any pollution. Tweedle dee slowing down the inevitable, probably reducing employment, tweedle dumb yelling drill baby drill and lets keep the subsidies. Can't say either side is covering themselves with glory.

I'd rather have a slow transition off oil, than the misery of a price spike. I'm still going to make money on the bad, but I certainly am not a cheerleader for doom. How about some sensible energy policies for a change.

 

I'm not sure how the state budget plays into it, but the rest I agree with. However, if it gets noticeably over $4/gal then the economy will stutter and gas usage will go down. So I think it will get to $4.25 in the big markets and $4.10 nationally and kinda level off there for the summer. Plus or minus 10 cents.
A year ago I would have brought that number down a bit, but I think we're getting used to this price, psychologically. Back in 2006 $3 for gas seemed a shock.

I was disagreeing with the first part, but the second part is correct - it's more about perception than reality. Obama's claim already is that the Republican Governor of Nebraska has unilaterally rerouted the pipeline in his state for environmental reasons. There wasn't time to agree on the rerouting and get a decent impact study done in the time frame that the Republicans had imposed, so he canceled the project "for now". That leaves the door open, if minds change or somehow we come to agreement over the best route, that he would approve the pipeline.

Keep in mind also that we have at least one pipeline already coming from Canada, this talk is about adding to the existing capacity. Nothing will be interrupted.

 

Assuming the pipeline stays intact...

 

There are those of us that want it done in an environmentally friendly manor, and others that don't want it done at all. The politics of the left is that ghg, not spilled oil are the trouble, and they are trying to kill it. Yet many of them burn plenty of gasoline, and think if its OPEC oil its somehow less dangerous.

The current pipeline from canada would not carry the new oil to gulf coast refineries. It would need to build a pipeline in canada, and then it would be refined maybe in those same refineries or maybe in china after taking a more expensive trip on a supertanker. With $100/bbl oil and possible troubles in the ME, we will be using more unconventional oil, with or without the pipeline. I think that is similar to what you are saying.

 

I'm not sure there are any left. I used to think Canada was fairly responsible with the environment, but not any more. In the government's eyes, Greenpeace has gone from a charity to a terrorist organisation subject to surveillance. Vast amounts of land and water are being destroyed in the name of oil profits - people and ultimate costs be damned.

Oh wait. You meant 'manner', not 'manor'.

 

And petrol isn't far behind at £1.35 litre or $8.07 a us gallon

http://www.bbc.co.uk/news/uk-17072925

Glad I've got the Prius but the price of fuel is a bad joke now. Trouble is most of it's tax but we're so up **** creek that they can't afford to remove any.

I am going to find a way of making a living that doesn't involve driving. It's just too volatile. Two years ago petrol was £1.02 a litre or $6.11 using todays exchange and we thought it was bad then.

The only way is up my friend

 

Hmmm funny you should say this as I had read this article only minutes earlier.

http://www.bbc.co.uk/news/science-environment-16861468

Funny how it all changes in the name of oil.


I think we've got a similar issue going on with the Falklands. OK the islands were in British hands before Argentina was a country and the folks who live there want to stay there, but the only reason we're bothered is because of the oil thats been found. So yet again more agro over oil so we can run our dirty vehicles.

Perhaps if the money was invested in clean electricity we could carry on as we are but without the agro? The cars are here already;

http://www.renault-ze.com/en-gb/gamme-voitures-electriques-renault-z.e.-1932.html

http://www.nissan.co.uk/#vehicles/electric-vehicles/electric-leaf

 

To paraphrase an old comic: "That's not funny, that's sick." Science used to be about truth, but the funders have now decided they want to 'manage' what gets reported. It's a disgusting development that makes me ashamed of my own government. That may be old hat for most people, but it's rather new for me. Canada used to provide a good example in many ways, but now the government's an embarrassment. I'd point fingers and name names, but that would only get this thread moved to the political section, and put my name on the watch list. Assuming it's not there already. :ninja:

 

The strategic oil reserve is for emergencies not as a tool to adjust cost. A sound energy policy should be used to keep energy prices stable.

 

^ The Strat Reserve was intended for emergency use. If you're job security is threatened by high gas prices.....say, like the POTUS, then that would be an emergency, now wouldn't it?

Fortunately...or unfortunately, depending on who you are, POTUS might not have his fingers on the valve to the SPR. IIRC, Congress would have to authorize releases from this reserve, which can only distribute oil at about 20-percent of this nation's demand.
This means a couple of things, really. Congress will be the ones to determine whether or not keeping gas prices sub stratospheric is a "real" emergency, and if they crack the valve to the SPR allllll the way open, then there will be a limited benefit for a consumer "emergency". A perfect scenario for a massive pissing contest whose outcome will not really matter very much for the electorate, especially if Congress wants a little quid for unlocking the valve.
Saaaaaayy.....maybe a little pipeline legislation?
The President will get to blame Congress Critters for high gas prices, and the dupes in the media will back his play.
Nothing really changes inside the beltway.

 

http://www.latimes.com/business/money/la-fi-mo-four-dollar-gas-20120217,0,7150361.story

 

[ame]http://en.wikipedia.org/wiki/Undecane[/ame] is what I get looking for C11H24 It is used as a mild sex attractant for various types of moths and cockroaches, and an alert signal for a variety of ants.

 

Will eventually get national average over $4, but again this will not be the year we see a national average above $5. Even $4.50 is unlikely; if it happens it will be short-lived, as people will get quite aggressive constricting their gas use.

 

Arco is already at $4.08 here with Shell and Mobil stations being at $4.15 for 87. Diesel is $4.29

 

Hitting the oil reserve is asinine, was when Obama did it, was when Bush did it. Short-sighted, irresponsible.

Anyway, I receive no money for this recommendation, but would like to share a protip on reducing your gas cost. The Penfed credit union credit card has a sign up fee of $20 or less and 5% back on ALL purchases at ALL gas stations. It's cash-back and hits your account automatically at the end of each month. I've had it for maybe half a year or a year now. It's vastly, grossly superior to many rewards cars that constantly play with where the points are from. I cannot guarantee this card won't change its reward structure ultimately, but it's been on 5% for a very long time now and that quickly covers the sign up cost. Saves me around $12-14/month without any real effort.