I've seen premium for $4.99 multiple places in LA. And "premium" here is only 91 octane
I honestly couldn't tell you what gas costs here right now. I haven't looked at the price in a couple years. It doesn't matter. I need gas, I pull into a Shell station and buy it. Gas is part of the cost of living.
For what it's worth, I'm shopping around to trade my hybrid on a 5.0 v8 car.
I live in MN where the price has bounced around anywhere from $2.80-$4.00 in the past year. Personally, I think in some states/areas where the cost of living is higher, gas prices could certainly hit $6/gallon because it would be far more socially acceptable than gas hitting $6/gallon in areas that have a low cost of living. However, I do believe there will come a time when gas becomes so expensive, that some people will simply not be able to afford to drive to work or school. For single parent families commuting, its not crazy to think they might spend $5,000-$6,000 a year in fuel. I know all the wealthy car lounge folks here probably don't have a problem with that, but for a young single person such as myself with an average job, after rent, car payment and food, there's not much left.
Hopefully it never comes to that, but I foresee some serious economic issues brewing around fuel costs.
are americans moving back into apartments in cities/closer to work? or is the "american dream" (read endless debt) still fueling suburban sprawl? gas prices will keep going up since u dont have an economy capable of backing up gas price reduction
ill tell you this much
when was hurricane catrina? 2005?
well back then i lived in New York, was driving 2003 Chevy Impala
and due to all the refineries being shut down by the hurricane
i paid $6.00 (few cents over, dont remember exact amount) back in 2005.
yes it only lasted for a week or two, but if $6 was possible back in 2005, then it wont be anything new today.
just checked my FUELLY
i bought my '10 GOLF TDI in June 2010
the lowest i paid for D2 was $2.99 in July 2010
the highers was $4.69 in April 2011 $6 is not that far off
Standard "supply and demand" rules simply do not apply to oil. There is an excess of oil on the market right now (has been for quite some time), yet prices are at historic highs.
The US, and CA most acutely, is currently having supply issues with gasoline. The reasons for which I won't debate because I'm just plain tired of arguing with the tinfoil crowd. What we can agree on is a lack of supply, either through refinery issues and regulation, or a perceived lack of supply through corporate evil-doer machinations.
Right now the volatility of gasoline prices isn't really correlated to crude oil, like it was in 2008-2010. In 2008, WTIC prices peaked at $145/ barrel. The average price of gasoline at that time was about $4/ gallon.
Today, the price of crude is about $93 while, nationally, gas prices are just under that record average of 2008.
I can promise you this. The commodity prices for oil and gas aren't going to drop in a thriving, high growth, high demand economy.
Last edited by Seabird; 10-10-2012 at 12:46 PM.
Rest easy, Bart.
I always figured its a corporate conspiracy. We are paying more for gas now at $100 a barrel then we were paying at $140 a barrel - and oil companies are seeing great profit margins. There is more to it than the government. It's all about the oil companies controlling prices
Team 30k Jetta - Frat Boys
I am trying really hard not to get into the technical details because that's when I have to endure the trolls who want to attack me for being some kind of Big Oil Insider. I'm so tired of those fights. That's why I'm not responding to the crazy stuff being posted right now.
Rest easy, Bart.
With that said, my wife and I pay $400 a month for health insurance. I would never say "people in Finland are spoiled because their healthcare is free".
California takes wraps off dirtier, "winter" gasoline to ease prices