Gas Prices Could Hit $4 By Spring

New York Times:

Gasoline prices, which for months lagged behind the big run-up in the price of oil, are suddenly rising quickly, with some experts saying they could approach $4 a gallon by spring. Diesel is hitting new records daily, and oil settled at a record high of $100.88 a barrel on Tuesday.

The increases could not come at a worse time for the economy. With growth slowing, energy increases that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could worsen the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.

Read the whole story: New York Times

Comments

[SaintN]

08:46 PM on 02/27/2008

Rising gas prices are really just a "Test" by Big American Oil to see just what the market will bear! So far Americans aren't even thinking about let alone considering cutting back by taking transit and leaving their gas-guzzling cars at home.Maybe if US Corporate Oil (who really control OPEC) raises the price of gas to $10 dollars a gallon,maybe...just maybe some Americans will really start to flirt with the idea of cutting back!

[RUSSO4]

03:51 PM on 02/27/2008

A big thanks to the wacko enviromentalists who have succeeded in making it so we don't drill in ANWAR, and no to nuclear energy!

[MajorKong]

04:02 PM on 02/27/2008

Go ahead, drill ANWAR. I'll look forward to saving $.02 a gallon in the year 2015.

[rascalov]

04:12 PM on 02/27/2008

Hey Russ-stooge...Nuclear energy will do nothing to make your fucking car run. You want to use nuke for transportation? Build more high-speed electric rail, change our sprawl mentality, stop the maniac builders.
ANWAR oil wouldn't grease your dead granny's scalp, pal.

[jdm58]

03:14 PM on 02/27/2008

Going to $4.00? Good! Hope we get to $6.00 by summer! Maybe people will wake up to the fact that alternative energy is not only necessary to save the planet, but their wallets too. Money, and the lack thereof, seems to be the only thing that motivates change.

[abbiehoffmansghost]

02:58 PM on 02/27/2008

Brought to you by the Republican White House, the Republican Congress '94-2006, and the Republican Senate. Hey trolls, let's talk a little bit about the Carter economy compared to the Bush economy. Come on big mouths.

[adamovermiller]

10:46 PM on 02/29/2008

Look, I'm not trying to split hairs here... but you need to take a minute to actually think about what you're writing. I'm not disputing the fact that the Republican Congress may have done some bad things, but what you need to understand is that Congress is made up of two branches... The House of Representatives and the Senate... it is NOT Congress and the Senate. Next time you want to open your mouth about something, take a minute to make sure you're using the right words. It will make you actually seem credible!!!!!!

[studlyguy]

02:38 PM on 02/27/2008

this it in a nutshell,this is Bush/Cheney a big f**k you to the American people before they leave office,they have stolen as much as they can from the treasury, they are i'll be up front with people screwing us on oil prices and this is going to their last big screw you before they leave ,INFLATION is here no matter what fixed government reports say ,and the dems congress allowing the Bush/Cheney regime get away with crimes to numerous to mention makes you wonder no matter dems or repukes there all in it to screw the American people , these are truely dark times people cause the dems are no better then the repukes for allowing all this to go on without any consequences,so INFLATION and the economic storm is hitting and it's going to be lot's of downward spiral for years for all this fraud in banks with the manipulating the subcrime mortgage mess and in oil companies with manipulating oil prices just means were all screwed big time

[WIpatriot]

04:24 PM on 02/27/2008

Right you are, studly, but take a deep breath and write sentences.

[studlyguy]

05:41 PM on 02/27/2008

LOL,i know but i just type then post ,i just get caught up in getting what is in my head and post ,will work on typing sentences,Wlpatriot

[JoeBlough]

02:31 PM on 02/27/2008

I love the use of the example of the woman who can't afford movies for her kids. Well let's look -

1.) she has an old Dodge Caravan - There's the first problem. A famous gas hog.

2.) she can't take her 4 kids to the movies. There's the second problem. She had 2 kids too many. If she stopped at 1 or 2, she'd be fine.

[WorkingClass]

01:42 PM on 02/27/2008

It's all Nader's fault.

[SubparDude]

01:32 PM on 02/27/2008

:

The Surge Is Working!

:

[Nutcase]

12:56 PM on 02/27/2008

The falling value of the dollar will be a significant contributor to the price increases.

cognito ergo populistae

[bushisanAhole]

12:54 PM on 02/27/2008

Oh no, all those fat bastards driving their big suv's might have to sell them. good luck with that.

[ParacleteofKavorka]

03:56 AM on 02/28/2008

The trouble with the 'fat bastards' that drive big SUVs is that they've run up the price of gas for the guy driving the hybrid. Now, if we could only charge SUVs $5.00/gal and economy compact cars $1.00/gal that would certainly change habits.

Why aren't I in charge of the world?

[Blutus]

12:47 PM on 02/27/2008

Good!!

Get it up to $6, $7 a gallon
and America might start to get the
message and stop letting oilmen
continue to run the entire planet
as they have since the 19th freaking
century!

And today Exxon doesn't want to pay one dime
for the Valdez spill! Not a dime!

Dmonic, rapacious bastards whose greed
knows no boundaries!

Pour money into alternative energy and scare
the bejesus out of these crooks!

[MagisterLudi]

12:41 PM on 02/27/2008

Reality check: most environmentalists always complained that gas costs were too low. So unintentionally Bush/Cheney, two most ridiculous anti-environmentalists are helping with their pro- dirty fuel policies. Now that the gas is so expensive, (in Holland it's about $7 a gallon) there's political and economic pressure to finance more RD in alternative fuels and use more available tech. solutions.
For my money, I would legislate a serious luxury tax on any non-commercial vehicle below 25 MPG and quadruple registration fees on the same vehicles.

[ParacleteofKavorka]

04:00 AM on 02/28/2008

In 1992 Ross Perot recommended a 50 cent a gallon tax increase on gasoline and everyone pissed their pants. That money would have stayed in the U.S. and built roads, mass transit, repaired infrastructure or whatever but no. Eventually, the rise in gas prices went to Exxon/Mobil and OPEC. Boy, are we smart or what?

[AZdesertdog]

12:29 PM on 02/27/2008

how many times have we heard the promise of $4 gasoline in the past year? I just counted; 7. how many times has it happened? 0. and is there something new to make this time different? nope. hurricane threats? no.
the bottom line here is the market is NOT being controlled by OPEC this time; it's strictly speculators. they had quite the frustrating time last year, ready to raise prices the minute one of the hurricanes hit the Gulf Coast. much to their chagrin, they all hit Mexico or Central America instead. however, every time (like right now) a refinery goes down for any reason (like normal maintenence) speculators raise prices thru the roof. this never used to happen before, until Katrina. they then found a really fertile paranoid public out there, just like we see posting here.
as far as oil reserves still in the ground goes, who has the big dipstick stuck in there, and knows exactly how much is left? I don't think anyone really knows; it's all just speculation.

[MonicaL]

12:21 PM on 02/27/2008

$4 a gallon? This can't be.

Nancy Pelosi guaranteed in the Fall of '06, if Democrats took the House and Senate, they would bring the price of gas DOWN.

Pelosi lied, people can't drive!

[Smartey]

03:14 PM on 02/27/2008

You're right, Monica.

From Pelosi's website:

"Democrats have a plan to lower gas prices, taking America in a new direction that works for everyone, not just the few. Our plan would empower the Federal Trade Commission to crack down on price gouging to help bring down skyrocketing gas prices, increase production of alternative fuels, and rescind the billions of dollars in taxpayer subsidies, tax breaks, and royalty relief given to big oil and gas companies."

So much for yet another of her campaign promises.

[gcallaghan]

12:14 PM on 02/27/2008

This is Big Oil's one last dash for the cash before the Novemeber elections.