basementwaj

Seriously...

No natural disasters..... No shortages.... so why is gas still going up. We are on the verge of any miner disaster pushing gas to $5 a gallon:curse:

ugacrew

The f***ing bast***s of OPEC, and that fact we're in Iraq. The Middle East has pulled down our pants and is giving us a good rogering. I think the moment they hear of any large scale plans of us finding an alternative renewable fuel source that makes us independent of the East, only will the prices drop substantially. I also think they are trying to milk us on a resource they know is going to run out. That's my 2 cents.

penguinsix

There was some disruption on the Nigerian pipeline last week. There was also a rocket attack on a tanker off of Yemen.

There is also the increased demand from Asia and India, coupled with the rather stagnant supply.
http://www.cbc.ca/canada/newfoundlan...il-prices.html

basementwaj

is that really why we are paying $3.50 at the pumps? I dont think the Nigerian / Yemen thing really is any part of the price hike.
Opec has said that production is steady and there is no increase in demand in the US...........

JEM3110

I read somewhere it's going to rise another 10-20 cents a gallon by mid-summer.

penguinsix

Yes, but demand is increasing in other places. Chinese oil requirements were up 8% last month over a year ago.

http://ca.reuters.com/article/busine...D3274320080422

The Yemen attacks and oil pipeline sabotage saw the price for crude spike a bit this week. While crude bought on the market and gasoline bought at the store are about 3-4 weeks apart, oil companies buy much of their oil on the futures market so it is sometimes impossible to tell just exactly how much they paid for the barrel of oil that is now filling your car.

It seems when prices go up, they rush to raise the retail price, but when they fall, they let the 3-4 week gap expire before they drop their prices.

There is also the overall dollar's weakness (as oil is still traded internationally in dollars with the exception of Iran I think). If we see it switch to the Euro or some other currency, yikes.... Russia suggested this about a year ago and a top team of Treasury officials got on a plane that night and flew to Moscow to make sure that didn't happen.

I'm buying a mini if we switch to Euro-priced oil...
Another good article here
http://news.bbc.co.uk/1/hi/business/7362194.stm

basementwaj

have you seen the auto mini that shuts off the engine when you are stopped in traffic with your foot on the brake. When you lift off it starts again and off you go. I think i may be getting one of those or a nice new VW diesel when they get here

TruBrit

i read a couple of weeks ago that $6 a gallon will be the norm very soon.

basementwaj

FRACK

TruBrit

it's still cheap compared to what i'm used to paying in the uk...think peeps have been spoilt at the low cost over here for many years and that's why they are so shocked.

penguinsix

I heard about a new diesel BMW that gets better mileage than a Prius. It does so by having some of those automatic off features when stopped at a light (such as not recharging the battery when the car is idling) and such.

http://driving.timesonline.co.uk/tol...cle3552994.ece

Scouse Express

Let's not forget the Corrupt Tw*ts who also run this country whilst having stock in Oil Companies.:curse:

The Bush family's connection to the Oil Industry is well documented, whilst Dick Cheney was the Head of Halliburton, prior to taking the VP's office. They are responsible for supplying almost everything to the US Military in Iraq & Afghanistan. He will probably go back into that role once he leaves office.:curse:

The more oil prices go up, the more $$$$ they get in their pockets.:curse:

Jim.

JEM3110

I think it's shocking for everyone. If we were earning £££'s and not $$$'s it would be OK!

basementwaj

well i have been here a year now and dont think i am being spoiled paying $3.50 a gallon and paid $1 less when i got here. I think the European gas prices are just insane and played a part in my decision to move here

TruBrit

i'm going back much more than 1 year...the americans have enjoyed low gas prices for a long time and good for them. i remember my evian water bottle costing me more when i moved here than a gallon of gas