Regular gas climbs to record $4.10[views:4767][posts:11]_________________________________ [Jun 22,2008 10:20pm - zyklon ""] Gasoline is costing U.S. drivers a record $4.10 per gallon on average, but pump prices may be at a peak and could start to come down, an industry analyst said on Sunday. That optimism is linked to a pledge by Saudi Arabia to pump more oil in response to consumer countries' requests, according to Trilby Lundberg, editor of the nationwide Lundberg survey of about 7,000 gas stations. "I suspect that oil prices have peaked and will flip further because of this news and the physical addition of more oil on the market in July," Lundberg said. "This gives a strong chance that pump prices are peaking now, or may already have done so." A barrel of oil has doubled in price over the past year, stoking inflation, triggering protests from Asia to Europe, and compounding the financial pain of U.S. consumers already grappling with a sagging housing market, job uncertainty and soaring food costs. Top officials, policy makers and oil company executives met on Sunday in Jeddah, Saudi Arabia, for emergency talks on how to bring prices down. "Crude oil prices may spike at any moment from existing trouble in areas including Nigeria, or from some unforeseen hit to global supply," Lundberg said. "This may sound optimistic, (but) it seems likely at this moment as the meeting in Jeddah, Saudi Arabia is being concluded, that oil prices may have peaked and may drift down." One common reason cited for the rise of oil prices is soaring demand from developing economies such as India and China, whose emerging middle classes are gobbling up more oil. Lundberg said it was unclear whether other countries with fuel subsidies would follow China's lead and cut them in efforts to cap demand. Demand in the United States has fallen about 1 percent year-to-date, though it is closer to 2 percent lower in recent weeks, Lundberg said. Prices at the pump vary across the country. The luckiest drivers live in Tulsa, Oklahoma, where the city average was $3.76 per gallon, the nation's lowest. At the other end, Los Angeles and Fresno, California, were tied for the nation's most expensive gasoline, with the city averages reaching $4.59 per gallon of regular grade gasoline. On June 20, U.S. crude closed at $134.71 per barrel, up from $68.19 a year ago. |
| _____________________________________ [Jun 22,2008 11:50pm - fleshfries ""] I work at a gas station and people give ME shit for the gas prices.....I don't price it people, I just fucking pump it :P |
| ___________________________________ [Jun 22,2008 11:53pm - archaeon ""] fleshfries said:I work at a gas station and people give ME shit for the gas prices.....I don't price it people, I just fucking pump it :P LIES! It's all you asshole. |
| ________________________________________ [Jun 22,2008 11:55pm - thuringwethil ""] http://www.cnn.com/2008/SHOWBIZ/Music/06/22/tour.fuel.ap/index.html cost of living / rocking increase. and the irony here is that Saudi Arabia won't even let women fucking drive. Punk asses. |
| _________________________________________ [Jun 23,2008 3:20am - SacreligionNLI ""] funny. every gas station i saw today was no more than $3.99. i call shenanigans |
| ____________________________________ [Jun 23,2008 5:33am - fleshfries ""] I think we need to abolish America's biggest waste of gas: [img] |
| _______________________________ [Jun 23,2008 11:47am - BSV ""] i'm more annoyed now that the price of food has gone up from everywhere to the market to my favorite restuarants. |
| ____________________________________________ [Jun 23,2008 11:57am - FuckIsMySignature ""] i've seen the price as high as 4.21 in some areas. |
| __________________________________ [Jun 23,2008 12:15pm - W3 nli ""] gas is already 4.50 out here in Cali |
| __________________________________ [Jun 23,2008 1:05pm - archaeon ""] i just got 3.99 at the mobile in andover. WILD MUNDAYZZZ |
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| ________________________________________ [Jun 23,2008 2:57pm - DestroyYouAlot ""] NIGGER said:http://en.wikipedia.org/wiki/Siphon THINK OUTSIDE THE BOX WHITE PEOPLES BLACK POWER! Y'know, you really can't argue with this. [img] |