Get Ready For $5.00 Per-Gallon Gas this Summer

Which begs the question, “How’s that Hope and Change working out for ya’?”

BTW – Just a quick anecdote:  I saw an Obama T-shirt a couple of weeks ago that said:  “HOPE – Helping Obama’s Presidency End!”  Anyway, I got a chuckle out of it and thought I’d share it with you. – DB

Gas prices’ earliest-ever rise above $3.50 a bad sign for motorists
Morning Call
American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it’s likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year.

In 2008, average gasoline prices had hit inflation-adjusted records nationally by the summer, but they didn’t climb above $3.50 a gallon across the U.S. that year until April 21, according to the AAA Fuel Gauge Report. It happened again last year, but not until March 6.

But $3.50 a gallon gasoline is already here in 2012, weeks before refineries typically shut down for springtime maintenance, and weeks before the states switch from their less expensive winter blends of gasoline to more complicated and pricier summer blends.

“This definitely sets the stage, potentially, for much higher prices later this year,” said Brian L. Milne, refined fuels editor for Telvent DTN, a commodity information services firm. “There’s a chance that the U.S. average tops $4 a gallon by June, with some parts of the country approaching $5 a gallon.”

[...]

There are plenty of reasons for the high prices, and lots of reasons to fear a big price spike in the spring, said Tom Kloza, chief oil analyst for OPIS.

“Early February crude oil prices are higher than they’ve ever been on similar calendar dates through the years, and the price of crude sets the standard for gasoline prices,” Kloza said, later adding, “We’ve lost a number of refineries in the last six months (to permanent closure). Some of those refineries represented the key to a smooth spring transition from winter-to-spring gasoline.”

[...]

Thank you EPA/sarcasm

 

Explore posts in the same categories: Economics, Economy, Money, Obama Sucks, OPEC

5 Comments on “Get Ready For $5.00 Per-Gallon Gas this Summer”

  1. tgusa Says:

    When the next Ice Age comes along we may be forced to eat these people. Probably tastes like chicken.

    One interesting thing I have noticed is as they attack gas/energy/personal behavior through taxation people begin cutting back on those things which lowers tax intake which forces progs to tax other things to cover the shortfall. So the more we do what they want (temporarily) the harder they are hit. Its tough to be a prog.

  2. tgusa Says:

    So it seems that as we allow them to outlaw rights we eventually lose even more rights as a result of that process. We are sliding on our butts down a glacier that was supposed to have disappeared.

    First they came for…..

    Strange game, the only losing move is not to play.

  3. teach5 Says:

    Just as food products must label ingredients, it would be great if gas stations listed the taxes included for each gallon. This would (perhaps) open more eyes. Funny, that gas goes up, but no politician ever recommends rolling back taxes on gasoline to bring consumer cost down.

  4. Pete Says:

    In Western Europe the base price of gasoline is less than in the US, TAXES are why it costs so much over there.

    “We’ve lost a number of refineries in the last six months (to permanent closure).”

    WTF, This move by the obummer administration is NOT going to force Americans to buy over priced, electric cars that can only go a short distance. The high taxes in Europe haven’t forced the Europeans to buy electric cars.

    The only way we can get out of this eco-nazi nightmare is for the next president to declare a national emergency and nationalize all the oil on federal lands. Face it WHO really owns that oil the people of the US or exxon? The government gets a lousy 15% royalty when the oil companies want to pay it and they get billions in tax breaks to off set the royalties.

    Notice we are CLOSING refineries BUT not building new state of the art refineries or even fixing up the old ones, at $5 a gallon you can say hello to the next depression and you will see his cousin inflation, hopefully not hyper inflation. Have you been to the grocery store lately? $5.99 for 1.5 qts. (no more 1/2 gallon containers) dreyers ice cream — someone is crazy and it’s not me.


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