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(ABC)   Gas prices could hit $4 a gallon next summer. EVERYBODY PANIC   (abcnews.go.com) divider line 56
    More: Scary  
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548 clicks; posted to Business » on 06 Nov 2007 at 3:57 AM (7 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2007-11-06 12:05:21 AM  
no. i opt to not panic at this time.
 
2007-11-06 12:27:20 AM  
Meh. I bought my new car in June and still haven't put 4,000 miles on it.

I'd like to see $5 a gallon and maybe people will make some sensible purchases and force the auto companies (American ones, especially,) to build economy autos.
 
2007-11-06 01:46:55 AM  
5/9/2007
$3.70
12.17 gal
10 days
 
2007-11-06 01:57:09 AM  
That's the rest of the country. Southern California will be there by the end of the month...
 
2007-11-06 04:19:33 AM  
Bring it on! Maybe it will get a lot of the morons off the roads.

/Owns a Honda Civic hybrid
//Also owns a Toyota Prius
///Has been buying fuel efficient vehicles for longer than a lot of Farkers have been alive
 
2007-11-06 04:30:37 AM  
dofus: Bring it on! Maybe it will get a lot of the morons off the roads.

/Owns a Honda Civic hybrid
//Also owns a Toyota Prius
///Has been buying fuel efficient vehicles for longer than a lot of Farkers have been alive


////Also loves smell of own farts
/kidding



That MINI Cooper is looking nicer day by day for me.

/Currently Dodge Dakota
 
2007-11-06 05:03:28 AM  
Farts? What farts?
 
2007-11-06 06:02:16 AM  
Won't hit $4 a gallon until after the election, not next summer. Ever notice gas prices drop a week or so before mid-term and presidental elections? No stats to prove this, just personal observation.
 
2007-11-06 06:08:43 AM  
Didn't they say that last year... and the year before? Are these the same people predicting hurricanes?
 
2007-11-06 06:37:38 AM  
http://forums.fark.com/cgi/fark/comments.pl?IDLink=3184268

Its even the exact same AP story
 
buz
2007-11-06 06:57:04 AM  
Har-har, we sold our gas pigs and bought 4 cylinders
(of course the payments offset the savings)
 
2007-11-06 07:47:56 AM  
Gilligan_Buddy: Won't hit $4 a gallon until after the election, not next summer. Ever notice gas prices drop a week or so before mid-term and presidental elections? No stats to prove this, just personal observation.

The Saudis engineered that but only in the 2004 elections. They're spent and have no production wiggle room. I'll bet you $5 it hits $5/gallon by spring 2009.
 
2007-11-06 08:06:35 AM  
So?

/Ducati Monster S2R ~45mpg
//Plus a mild winter climate
///Equals Win
 
2007-11-06 08:06:47 AM  
This is the same $4.00/gal gas we had this past summer right? And the one before that? Ok, just checking, thanks for the tip ABC.

dofus: Bring it on! Maybe it will get a lot of the morons off the roads.

Doubtful. THe majority of the people who buy SUVs for the hell of it or because they look cool (and not, say, because they drive through 2 feet of snow in on a daily basis or have 6 kids) don't give a crap and can afford the gas (or think they can, thanks to credit cards). What it will affect is the single parent driving their 1970-something Oldsmobile to their minimum wage job in a city that has crappy public transit. What's more likely to affect the morans is if SUVs and other fuel-inefficient cars cost much more than they do now. Then you'd only get someone buying one of those huge-ass double-wheel pickup tricks if they were a contractor hauling stuff around all day, and not simply to compensate for other inadequacies.

If the government gave a crap, they'd buy back the gas-guzzlers on the road now, which would make it easier for people who drive gas guzzlers because it was their only form of transportation, not because they made a conscious choice to buy an inefficient vehicle they didn't need. In fact, some energy company in California tried to do that in the '70s and '80s - they offered people more than blue book value for their huge-ass 1970s gas guzzlers in order to offset the emissions from their plants. I believe they were sued by one of the environmental organizations, and the courts made them stop the program.
 
2007-11-06 08:33:13 AM  
h to the 'ojo: Gilligan_Buddy: Won't hit $4 a gallon until after the election, not next summer. Ever notice gas prices drop a week or so before mid-term and presidental elections? No stats to prove this, just personal observation.

The Saudis engineered that but only in the 2004 elections. They're spent and have no production wiggle room. I'll bet you $5 it hits $5/gallon by spring 2009.


Woops my $5 by $5 bet was gutsier than I intended. I didn't realize the average consumer gas price was still below $3.

With a calm status quo for the next 36 months, it will be $5/gal average.

(the following % are made up for fun) If refiners enforce their profit margins (currently at record lows) then you get an easy 10% boost in prices. As Russia's production not only declines YoY but exports doubly so as domestic consumption rises, another 10% pop. Sustained weak dollar filtering through the system could mean a 20% pop. China buying Nigeria, wells running dry in the mid-east, hurricanes, etc: gas prices will double (in USD) within one decade, but probably after three years. I'll change the bet to $6/gal by jan1 2015. If I had odds I would easily go to $6/gal by 2012 or 2013.

I wonder what the riots will be like. I think the French will cream themselves watching Americans demand a socialization of gasoline or subsidies to that effect.
 
2007-11-06 09:04:52 AM  
Whoa, $4 a gallon... lucky bastards.

Stop whining Americans.
 
2007-11-06 10:09:59 AM  
Good thing I bought a car with a turbo-charger. Wait.
 
2007-11-06 10:21:38 AM  
Welcome to Chicago.
 
2007-11-06 10:25:19 AM  
ultrachronic: Whoa, $4 a gallon... lucky bastards.

Stop whining Americans.


Don't blame us because your government taxes the hell out of gasoline, or petrol, or whizzledipop, or whatever the hell you guys call it across the pond.

/I keed...
 
2007-11-06 10:29:40 AM  
dionysos: Good thing I bought a car with a turbo-charger. Wait.

I'll bet it requires premium, too. Bummar.
 
2007-11-06 10:33:22 AM  
ultrachronic: Whoa, $4 a gallon... lucky bastards.

Stop whining Americans.


My students were amazed when I tell them that petrol costs the equivalent of 0.55€/liter back home. At the garage around the corner, for instance, it's about 1.50€/liter, which is about $8/gallon, depending on the exchange rate.
 
2007-11-06 10:36:31 AM  
ecmoRandomNumbers: Meh. I bought my new car in June and still haven't put 4,000 miles on it.

I'd like to see $5 a gallon and maybe people will make some sensible purchases and force the auto companies (American ones, especially,) to build economy autos.


This
 
2007-11-06 10:41:17 AM  
It was a sad day for me - but I traded in the Wrangler 5 weeks ago for a much more fuel efficient c230 Kompressor - not quite the image I like to put out there, but I like that I only have to buy gas once a week now instead of the three times a week fill-ups on the Jeep.

Excuse me while I go look for my balls.
 
2007-11-06 10:46:59 AM  
Wake me when it hits $5 a gallon.
 
2007-11-06 10:50:03 AM  
Meh... It will have to at least hit $10 before I care. At that price I'll have to fire my driver and personally operate my fleet of motor coaches.
 
2007-11-06 10:54:53 AM  
Robo Beat: ultrachronic: Whoa, $4 a gallon... lucky bastards.

Stop whining Americans.

My students were amazed when I tell them that petrol costs the equivalent of 0.55€/liter back home. At the garage around the corner, for instance, it's about 1.50€/liter, which is about $8/gallon, depending on the exchange rate.


Due to heavy gov't taxation.

You also have the benefit of wonderful public transportation, something that isn't too widespread in the States.

/Not being snarky
 
2007-11-06 11:04:05 AM  
I'll sell my car then.

/no I won't
//and neither will you
///snark
 
2007-11-06 11:18:04 AM  
dofus: Bring it on! Maybe it will get a lot of the morons off the roads.

/Owns a Honda Civic hybrid
//Also owns a Toyota Prius
///Has been buying fuel efficient vehicles for longer than a lot of Farkers have been alive


Goood foor yooou!
 
2007-11-06 11:19:27 AM  
damitjim: Didn't they say that last year... and the year before? Are these the same people predicting hurricanes?

Uhh, no they were saying $3 a year or so ago.

Gas prices have doubled under the Bush administration.

It's good for the gas companies people like you forget.
 
2007-11-06 11:27:33 AM  
dofus:

/Owns a Honda Civic hybrid
//Also owns a Toyota Prius


How do the mileage between the Civic Hybrid and the Prius compare for you (real world, combined trips, tank average, etc)?

I have an '07 Civic Hybrid... average 43-44 mpg in mixed driving. The best I've ever done is 46 mpg on a tank, and that was mostly country highway driving. My interstate mileage is around 42... around town it falls under 40. It's the 40-60 mph driving where the efficiency really shows.

That said, I've been very happy with the car; I prefer driving it to my father-in-law's 2006 Civic (non-hybrid)... It's quieter, and much smoother on the road.
 
2007-11-06 11:31:09 AM  
h to the 'ojo

If refiners enforce their profit margins (currently at record lows) then you get an easy 10% boost in prices.

Refinery costs and profits make up about 12-14% of the price of gas currently in the US (figures from California to support this number). So for them to boost gas prices by 10%, they would be upping their current 'record low' profits to 70-80%. Seems fairly unlikely. For them to take an extra 10% in profits, which is a fairly hefty increase, it results in only just over a 1% rise in prices.
 
2007-11-06 11:42:13 AM  
dofus: //Also owns a Toyota Prius

"ever heard it when it idles?... it goes Homo homo homo homo"

/not obscure
 
2007-11-06 11:55:13 AM  
Oil Man in office. 1 more year. Looking forward to less than $2/gallon prices again.
 
2007-11-06 11:57:48 AM  
LOL

With prices like this, I love seeing those big trucks with the Bush/Cheney Stickers pull into the local gas station.

//Drives a Toyota (non hybrid)
//~37mpg
 
2007-11-06 01:10:58 PM  
Abolish commodities speculation, and the problem will go away. Gamblers on Wall Street need to go to the track.
 
2007-11-06 01:19:36 PM  
tdyak: Oil Man in office. 1 more year. Looking forward to less than $2/gallon prices again.

Explain.

I heard recently that if we turned all our corn production capabilities to ethanol, we would only have enough to produce 1/4 of the fuel we use now. I wish we had real alternatives.
 
2007-11-06 01:33:58 PM  
Good - and slap a $2 tax on top of that - get all the poor saps off my roads.
 
2007-11-06 01:36:50 PM  
rppp01a: tdyak: Oil Man in office. 1 more year. Looking forward to less than $2/gallon prices again.

Explain.

I heard recently that if we turned all our corn production capabilities to ethanol, we would only have enough to produce 1/4 of the fuel we use now. I wish we had real alternatives.


That's not true and here is why: they won't be making ethanol out of corn in the future - they will be making it out of all manner of waste cellulose. A company has perfected a system that can make ethanol out of, say, bagasse, switchgrass, swamp mallow, etc., etc., and all the leavings from the southern pine tree manufacturing industry. They "cook" the stuff with enzymes and make ethanol for 1.99 a gallon, which is less expensive than making it out of corn by a nice margin and doesn't require the use of our food crops. There is enough "waste" pine shavings and the like to supply ALL of our energy needs eventually.
 
2007-11-06 01:38:15 PM  
p the boiler: It was a sad day for me - but I traded in the Wrangler 5 weeks ago for a much more fuel efficient c230 Kompressor - not quite the image I like to put out there, but I like that I only have to buy gas once a week now instead of the three times a week fill-ups on the Jeep.

Excuse me while I go look for my balls.


Dude, you just showed all of farkistan that you have the WORST car buying judgment on the playet. A jeep and a benz. Talk about your overpriced craptastic cars.
 
2007-11-06 02:26:04 PM  
www.weblogsinc.com

This car wouldn't be so bad if it wasn't such an ugly pile of crap.

My '05 Chevy Colorado gets about 23mpg or so. Not too bad. But then again, even though there isn't anything here, I love Nebraska because it's so damn cheap to live here.

/Suck it, New Yorkers and Californians.
 
2007-11-06 02:42:26 PM  
Robo Beat: My students were amazed when I tell them that petrol costs the equivalent of 0.55€/liter back home. At the garage around the corner, for instance, it's about 1.50€/liter, which is about $8/gallon, depending on the exchange rate.

Here's the thing.

Europe has been dealing with high gas prices for a long time and so the majority of your cars are much more fuel efficient.

Here in America we don't have a good fuel efficiency. This dramatic price increase is going to bite us hard in the ass.

In Europe you have some really good public transportation systems. In America our public transportation systems suck (for the most part), so we're really behind on this too. Hell, our public transportation systems are being reduced even as we speak. Sad but true.

So enough with the "In Europe we pay much more for petrol" bullshiat. It's just not relevant.
 
2007-11-06 02:45:31 PM  
dhudd: Dude, you just showed all of farkistan that you have the WORST car buying judgment on the playet. A jeep and a benz. Talk about your overpriced craptastic cars.

Fark you. I love my Jeep. That thing kicks all kinds of ass, even if it is a gas-guzzler. I think that if and when the engine goes out on me I might convert it to an electric car.
 
2007-11-06 03:00:41 PM  
xria:
Refinery costs and profits make up about 12-14% of the price of gas currently in the US (figures from California to support this number). So for them to boost gas prices by 10%, they would be upping their current 'record low' profits to 70-80%. Seems fairly unlikely. For them to take an extra 10% in profits, which is a fairly hefty increase, it results in only just over a 1% rise in prices.


A few months ago they had record crack spreads. Oil wasn't more expensive but gas was.

Now with $90+ oil refiners aren't making much because gasoline hasn't followed (yet.) This has negatively impacted Exxon for example.

Basically the weakening of the US dollar (through increases in $/barrel) hasn't shown up in the price of gasoline yet
 
2007-11-06 03:14:44 PM  
xria:
Just clicked your link.
For Oct 22 listed crude oil cost was 2.05.

It's trading at $96 for December delivery, and $93 for April. 31 gallons per barrel and that is a crude oil cost of ~$3/ gallon.

I'm not sure if the aforementioned California gasoline breakdown link assumes a certain level of inventory that would make them use ~$60/barrel in their crude costs but the fact is those inventories have to be replenished with new $90/barrel oil and once you find the average crude cost in their systems you will find their margins are down.

Either way there will be $4/gal gas as a baseline for California this spring/summer unless the US dollar regains some strength
 
2007-11-06 03:18:17 PM  
All it has to do is go up at the same rate as the last two weeks, for the next two weeks.

That ought to get it up to ~$3.60-$3.70 around here. Spitting distance from $4.00.
 
2007-11-06 03:32:01 PM  
stappawho 2007-11-06 10:50:03 AM Meh... It will have to at least hit $10 before I care

You'd be willing to spend $200+ to fill your tank? SERIOUSLY?
 
2007-11-06 04:37:45 PM  
llieswald: I love Nebraska because it's so damn cheap to live here.

/Suck it, New Yorkers and Californians.


Yeah, but on the down side, you have to live in Nebraska.

/I was there once, it actually wasn't as bad as I thought it'd be. It was worse.

//I keed
 
2007-11-06 04:51:49 PM  
They made this same prediction last year and it didn't happen then. Why won't Gearge Bush turn the "Gas Price Knob" all the way to the left so we can have a gallon of gas for 2 bits?
 
2007-11-06 05:02:25 PM  
The squeeze, it's on!
 
2007-11-06 05:31:25 PM  
It'll have to be 5 bucks before I buy an econocar to add to my fleet. When I say econocar what I mean is Corvette(28mpg hwy). Some other nice choices...

Audi/passat 1.8 T -30 mpg
VW Golf TDI -40 mpg
Older pontiac GP GTP -28mpg
Subaru WRX -24mpg
Honda Accord coupe -30mpg

just to name a few

Dont you people realize you can get performance AND fuel economy without buying a damn prius. When I say prius, I mean a Corolla that costs 10k more and just looks worse. I feel so sorry for you people. You have to walk out of your houses in the AM and look at that hunk of junk in the driveway.

If I saw myself in a prius I'd have to kick my own ass. Those things are farking ugly. You gents might as well check your balls at the door. Also better check if that life ins policy is paid up if you ever get in a serious accident. The smug cloud continues to grow.

As far as I go, I need to keep my 14mpg truck to tow my cigarrette boat in the summer. It was 250 bucks to fill up that thing and well worth it. Looking forward to cheaper gas in Nov '08!!

Maybe if oil is 125 bucks, someone will actually do something about it.
 
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