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http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P128021.asp The article mentions that $5/gal might occur if there is another supply disruption. Hurricane season is not over and there is always the threat of terrorists attacking the fuel infrastructure here and abroad. I live in Staten Island, NY - the home of Port Mobil. There was an explosion there about 2-3 years ago which absolutely felt like a bomb. It turned out to be accidental, but it revealed the inadequacy of security around the area.

On a more recent note, the closest Mobil station to me had $3.39 posted for self-serve premium today. I also saw lines at several stations. Nothing TOO drastic, but enough that you notice. The regional power-outage 2 years ago resulted in longer lines. But, people are concerned that the 20-50 cent hike in prices we saw last night might occur tomorrow, and the day after that...

It all makes me glad that I have a 9-3 2.0t. It's hardly miserly with fuel, but it is definitely above-average in efficiency. Skyrocketing prices cannot be good for the big three - Pickups and SUVs make up the bulk of their profits and $2.25 hurt them. $3.40 gas might be disastrous. Chrysler 300Cs, Magnum R/Ts, Impala SSs, and Grand Prix GXPs definitely won't be doing so well either. Additionally, the premium paid for a hybrid decreases as gasoline gets more expensive.
 

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Today's Wall Street Journal says that the average car has 1/4 tank of gas in it. If people start hoarding and filling their tanks because of rapidly rising prices, this may result in tanks being 3/4 full. At that level, there would be severe shortages according to the article.

I think eventually it would level off but it is surprising that there would be shortages if everyone just filled their tanks a little.:nono;
 

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Dave 37 said:
Today's Wall Street Journal says that the average car has 1/4 tank of gas in it.
From the sounds of things, if every 93SS was running around with only 1/4 tank it's not a fuel shortage we would have to worry about but a fuel PUMP shortage:suprised;
 

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I'm very glad I went out and filled my tank on Monday. Prices here jumped more than 20 cents today.
 

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One thing I don't understand is why the oil companies are reporting record profits from all these price hikes. Are they increasing prices at the gas pump more than they should?...taking advantage or use the excuse of oil shortage? Is it really a shortage in oil supplies or another way to maximize profits?
 

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Well if it keeps going up this maybe the year I put more miles on my bikes (bicycles) than my car, been close some years. :confused:

At least I can ride my bike as fast as I can pedal and not worry about increasing my expenses, well more food intake will be needed. :lol:
 

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I'm kicking myself today, on the way to work my local station had gas for 2.75 and I thought to myself that I'll just get it on the way home, well at 5:00 it was 2.99!
 

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Jim K said:
One thing I don't understand is why the oil companies are reporting record profits from all these price hikes. Are they increasing prices at the gas pump more than they should?...taking advantage or use the excuse of oil shortage? Is it really a shortage in oil supplies or another way to maximize profits?
Oil companies that refine their own oil make huge profits as prices go up cause a 10% profit at $80 a barrel is a heckuva lot better than at $45. Here in Canada we have a gas tax that is also a % of the price, so the governments revenues are also way up. Maybe now we can afford to fill in a few potholes.
 

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Jim K said:
One thing I don't understand is why the oil companies are reporting record profits from all these price hikes. Are they increasing prices at the gas pump more than they should?...taking advantage or use the excuse of oil shortage? Is it really a shortage in oil supplies or another way to maximize profits?
Good point! That is why I try to use smaller brand gas (not generic but brands like Citgo, Kwik Trip, etc.).
These major oil companies are definitely screwing us!
 

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I dream of gas at $4 a gallon......


In the UK (and most of Europe) we are running at around £0.95 per litre, which is around £4 for a US Gallon or $7. Your prices are still half what we pay.

Enjoy it while it lasts. Instead of lamenting that the price is more today than yesterday, you should be making hay while the sun shines. In a years time you may (like me) be thinking back in time fondly when gas was "just" $4 a gallon.

Oh yeah, and don't forget that after the disruptions you have had, our prices will rise too. :( Oh well, c'est la vie.
 

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Cosmicflash said:
Good point! That is why I try to use smaller brand gas (not generic but brands like Citgo, Kwik Trip, etc.).
These major oil companies are definitely screwing us!
Funny you said that. I received this email today from a friend...I guess I'm not the only one who thinks we're getting scr***d!:

While ya'll are reading this, contemplate what I saw on CNBC at lunch
today. Profits (not revenues) were up 10 billion dollars for
Exxon/Mobil
over the last 24 months. *&%!!#&*%!!
This makes MUCH MORE SENSE than the "don't buy gas on a certain
day" campaign that was going around last April or May!
The oil companies just laughed at that because they knew we
wouldn't continue to "hurt" ourselves by refusing to buy gas. It was
more of an inconvenience to us than it was a problem for them. BUT,
whoever thought of this idea, has come up with a plan that can really work Please read it and join with us!

By now you're probably thinking gasoline priced at about $1.50
Is super cheap. Me too! It is currently $2.75 for regular unleaded in
My town.
Now that the oil companies and the OPEC nations have
Conditioned us to think that the cost of a gallon of gas is CHEAP at
$1.50-$1.75, We need to take aggressive action to teach them that BUYERS control The marketplace.... not sellers.
With the price of gasoline going up more each day, we consumers Need to take action. The only way we are going to see the price of gas Come down is if we hit someone in the pocketbook by not purchasing Their gas! And we can do that WITHOUT hurting ourselves. How? Since we all rely on our cars, we can't just stop buying gas. But we CAN have an impact on gas prices if we all act together
to force a price war.
Here's the idea: For the rest of this year, DON"T purchase ANY gasoline from the
Two biggest companies (which now are one), EXXON and MOBIL. If they Are not selling any gas, they will be inclined to reduce their prices. If They reduce their prices, the other companies will have to follow suit. But to have an impact, we need to reach literally millions of Exxon and Mobil gas buyers. It's really simple to do!! Now, don't whimp
(sic) out on me at this point... keep reading and I'll explain how simple it is to reach millions of people!!
I am sending this note to about thirty people. If each of you
send it to at least ten more (30 x 10 = 300)... and those 300 send it
to at least ten more (300 x 10 = 3,000) ... and so on, by the time the
message reaches the sixth generation of people, we will have
reached over THREE MILLION consumers!
If those three million get excited and pass this on to ten
Friends each, then 30 million people will have been contacted! If it
goes One level further, you guessed it..... THREE HUNDRED MILLION
PEOPLE!!! Again, all you have to do is send this to 10 people and DON"T
Purchase ANY gasoline from EXXON and MOBIL. That's all. How long would all that take? If each of us sends this email
Out to ten more people within one day of receipt, all 300 MILLION
people Could conceivably be contacted within the next 8 days!!! I'll bet you
didn't think you and I had that much potential, did you! Acting
together we can make a difference.
If this makes sense to you, please pass this message on.
PLEASE HOLD OUT UNTIL THEY LOWER THEIR PRICES TO THE $1.30
RANGE AND KEEP THEM DOWN. THIS CAN REALLY WORK
 

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Jim K said:
Here's the idea: For the rest of this year, DON"T purchase ANY gasoline from the


Two biggest companies (which now are one), EXXON and MOBIL. If they Are not selling any gas, they will be inclined to reduce their prices. If They reduce their prices, the other companies will have to follow suit. But to have an impact, we need to reach literally millions of Exxon and Mobil gas buyers. It's really simple to do!! Now, don't whimp
(sic) out on me at this point... keep reading and I'll explain how simple it is to reach millions of people!!
I am sending this note to about thirty people. If each of you
send it to at least ten more (30 x 10 = 300)... and those 300 send it
to at least ten more (300 x 10 = 3,000) ... and so on, by the time the
message reaches the sixth generation of people, we will have
reached over THREE MILLION consumers!
If those three million get excited and pass this on to ten
Friends each, then 30 million people will have been contacted! If it
goes One level further, you guessed it..... THREE HUNDRED MILLION
PEOPLE!!! Again, all you have to do is send this to 10 people and DON"T
Purchase ANY gasoline from EXXON and MOBIL. That's all. How long would all that take? If each of us sends this email
Out to ten more people within one day of receipt, all 300 MILLION
people Could conceivably be contacted within the next 8 days!!! I'll bet you
didn't think you and I had that much potential, did you! Acting
together we can make a difference.
If this makes sense to you, please pass this message on.
PLEASE HOLD OUT UNTIL THEY LOWER THEIR PRICES TO THE $1.30
RANGE AND KEEP THEM DOWN. THIS CAN REALLY WORK
So what incentive have the other gas stations to reduce their prices? If no-one buys Exxon Mobil on principle - it wouldn't matter what price they sold at. As soon as you go back the prices go back up.

Get real - if you convince ten people not to buy Exxon-Mobil fuel for a month I'd be amazed, you are kidding yourself if you think 300 million would be influenced by a chain email. All the gas stations charge roughly the same (and will make profits at the same rate), why penalise one company for being successful?

Why not just stop buying fuel? Convince everyone not to drive and use fuel for a week and then the gas prices would fall. Good luck - you'll need it.
 

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14 months ago I spent $21 for a full tank of high octane fuel.

Yesterday, I spent $53 for a full tank for high octane fuel at the same station.
 

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voodoochile said:
14 months ago I spent $21 for a full tank of high octane fuel.

Yesterday, I spent $53 for a full tank for high octane fuel at the same station.
True enough, but your Government have managed to keep the real cost of fuel artificially low compared to 80% of other Western Countries.

Now that supply lines have been disrupted, you have seen rises in the fuel costs.

At least yours can be attributed to supply issues. In the UK we pay somewhere in the region of 75% Tax on the fuel we use.
 

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voodoochile said:
14 months ago I spent $21 for a full tank of high octane fuel.

Yesterday, I spent $53 for a full tank for high octane fuel at the same station.
I typically spend £45-£50 every refill, and I refill about every 250 miles. That's around $85... and still rising.
 

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That is INSANE! :eek: Price gouging run amok if I've ever seen it. Fortunately I heard that our guvnuh stepped in and declared a state of emergency which gives the state some power over price gouging, though it is not officially illegal.

I filled up with Chevron premium on Tuesday at $2.99/gallon in Midtown and now I think I got a good deal while at the time I was pretty sure that price was high compared to other parts of the metro area. I'm trying to be more judicious with my right food but old habits die hard.
 
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