Gas prices $5/gal by year's end?

Discussion in 'Chit-Chat' started by FirstToy, Jul 12, 2005.

  1. FirstToy

    FirstToy

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    At dinner tonite, a friend said gas prices would be at or near $5/gal by the end of the year!
    Yikes is all I have to say. That's gonna hurt like a mofo.
     
  2. T Y L E R

    T Y L E R

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    I just put $20 in tonite ... and gas was $3.85CDN/US gallon . Over a dollar per litre. Haven't seen that in a coon's age .. :rolleyes:



    TY
     
  3. bad_religion_au

    bad_religion_au

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    welcome to aus.. the swill they serve us as "regular" (not enough octaine to stop anything pinging) is 1.18c per litre in capital cities... you just lube up before buying from country towns
     
  4. dfmorse

    dfmorse

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    I don't see that happening this year; however, one good hurricane could trigger the knife edge economy we live in toward mucho problems. Don't worry, big-brother will screw it up for us.
     
  5. T Y L E R

    T Y L E R

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    Speaking of hurricanes...I speak to the woman who is a partner in the condo development I'm in frequently. When asked why there was a delay in the building of the latest condo she pointed towards all the rebuilding in Florida last year, and the drain that put on lumber supplies .. as well as the affect it had on prices. Is there a lick of truth to that , I wonder ??



    TY
     
  6. PHBeerman

    PHBeerman

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    TY lumber prices are high right now, but that is not due to the rebuild in Florida. That rebuild is really a drop in the bucket compared to the housing boom that is going on. It is a good time to be in the Lumber industry. :D:
     
  7. Exiled

    Exiled

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    I don't know about $5, that doesn't seem realistic unless there's a significant threat to the world supply, but $3.50 is absolutely doable, the demand in the US, China and India is very strong right now, beyond expectations.

    Biodiesel is starting to look good, at the rate we're going with the dino stuff, running straight vegetable oil might end up being worth the hassle!
     
  8. NovaFZJ80

    NovaFZJ80

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    Lumber prices are high cause of the housing boom that is still going on...heck, i'm in Loudoun County, VA and they are in the top 5 last year as fastest growing county....so much construction here that its unbelievable....housing developments going on around the whole county.

    At least the price of gas we get is by the gallon, not liter like in Canada or other European countries.
    For what its worth, there was a list that was going around the internet, that gas isn't so pricey by the gallon compared to:

    milk
    nyquil
     
  9. TX_TLC

    TX_TLC

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    Right now I wish my Cruiser ran on milk...$1.99 a gal. gas..is $2.35... :doh:
     
  10. IDave

    IDave

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    I remember a couple months ago the government forecasting $3 by the end of June. Which didn't happen. There is no acute supply shortage (not to say there won't be one long term). The prices we pay now are probably more greed than supply/demand issues, but I won't say it isn't more complex than that. So, I am not staying awake nights worrying about $5/gal. However, if someone wants to sell me their locked 80 cheap, so they can buy a motor scooter to save gas, well....
     
  11. flintknapper

    flintknapper

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    I don't care what they charge for it as long as my pay scale keeps up with it.

    If my pay scale stays the same and fuel costs increase then it begins to hurt.

    Got a daughter in college....(now that will drain ya)!
     
  12. cruzer

    cruzer

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    i vote that $3/gallon is when people really start curbing their driving behavoir...hell i am already not going on a few trips this summer because diesel at 2.50/gallon is to much when you are going to be doing a 400mile round trip at least.

    Their is a place close to my route to and from work that sells one of the bio diesels will be looking into that pretty soon...

    Stew
     
  13. Jim_Phillips

    Jim_Phillips

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    Nearly $7 a gallon in the UK - all down to high taxation
     
  14. PHBeerman

    PHBeerman

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    Yeah but you have "Free" Health care :D :D :D
     
  15. Red Herring

    Red Herring

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    What does that have to do with anything? Think it sounds better?


    PS. The rest of the world uses liters
     
  16. beno

    beno Gihee Arakawa Moderator GOLD Star

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    Gas increase in this day and age is inevitable.

    If it doesn't hit it this year, it'll hit next year; if not next year, the year after that.

    There is nothing we can do about a finite resource that is wanted, needed, and is the major lubircation, so to speak, of the global economy....

    I think we should have more windmills like they have along the Tehachapi Pass in CA...power the homes, factories, etc., with wind, solar, nuclear, and let the transport sector deal with diminishing supplies of petrol.

    Sooner or later (I am assuming sooner) we are all going to have to either run bio or fuel cells or electric....seems to be a fact of life...

    Best.
    -onur
     
  17. Tigerstripe40

    Tigerstripe40

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    My 'Cruiser is paid for.

    I think gas would have to hit $15 per gallon before I could justify buying a new car.

    Just some food for though. :D
     
  18. FirstToy

    FirstToy

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    Gas is already $3/gal in certain areas.
     
  19. freightdog

    freightdog

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    Yep, same here x2 = my neighbor just bought a Ford Expedition - with insurance she is at $1000 a month at 8.9% = holy s***.

    I can buy a ton a fuel at s*** for mileage before I wanna start down the payment routine -

    The wife wants a 80 - only if we pay cash!

    So, buy my 60!
     
  20. NorCalDoug

    NorCalDoug problems solved daily...

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    Oil is not a finite resource. The processes that created the current crude oil supply are still working to create more oil for the future. The process has been going on for billions of years and it's still going on now. There are those who estimate that we have several thousands of years of available oil given our current expanding crude oil use.

    The gas prices and perceived shortage, as IDave said, are based on greed. OPEC sets the price of oil per barrel, we pay based on that price plus all the profit gained by those between the oil pump and the gas pump.

    I don't see $5/gallon by the end of the year -- that would be a huge jump. It would mean an increase of about a penny a day from now to the end of the year. Around Sacramento, 1 gallon of regular is around $2.40/gal, give or take a nickel.

    Let's use $2.50/gal as a starting point. An increase of a penny a day would take that price to $4.22 by the end of the year.
    It would take an increase of a dime a week from today to the end of the year for gas to be $4.90 by the end of the year.

    Although it's plausible, I've never seen prices rise that fast.
     
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