Gas price at Speedway, Westerville 4-22-08: $3.59

Again, oil and gas prices hit records; crude nears $120

Drivers driving less

By James R. Healey, USA TODAY

 

Oil and gasoline prices continued Tuesday to set all-time highs — with oil topping $119 a barrel and gasoline reaching $3.511 a gallon.

 

Responding to a weak dollar and concerns over supplies light, sweet crude for May delivery rose to a trading record of $119.90 before retreating to settle up $1.89 at a record $119.37 a barrel on the New York Mercantile Exchange.

 

More at:

 

http://www.usatoday.com/money/industries/energy/2008-04-21-gas-record_N.htm#

 

Awesome. I remember reading predictions of this from peak-oil "nut jobs" five years ago. Those predictions of what sectors would be hit (housing, finance, food, etc.) are proving to be right on target.

 

And I say "awesome" despite the fact a lot of families are being hurt. But many of these people have been driving to the corner store in their big-ass SUVs from their McMansions just to buy a half-gallon of milk or doing other resource-careless activities. Prices of fuel were just too low and that encouraged us to be wasteful. Now, rising prices are teaching us to be more responsible and is starting to change lifestyles in more productive ways. And THAT is what is great news in all this.

While I agree that this could be beneficial in the long run---that we will be forced to change our ways for the better---this will be a rough ride. We are in such a poor position (for any number of reasons) that it will take a generation or two to make the change. In the meantime, buckle your seat belts. :-o

KJP.... Got ya.... posted this on Monday in the City Discussion.  But this is a very good story and fine to re-post.

I don't see where it is. Where?

While waiting for the bus at E 185 & Neff this morning, I saw a soccer grandma pull into the Sunoco station with a late 90's/early-00's Chevy Tahoe grocery-getter -- five minutes later, the verdict was in:

 

15.778 gallons

$56.79

 

Welcome to the bed of nails that we must all now sleep upon... yes, as a transit user, I'm feeling just a little smug this morning, but only a little.

 

Fuel prices have smacked me hardest when it comes to buying groceries. Everything at the store is a good 10% higher (or more) than only a short time ago, and manufacturers have now taken to another dirty tactic -- keeping prices stable while reducing package sizes. Take a close look the next time you buy that half-gallon of ice cream, you may be surprised to learn it's only 48 or 56 ounces.

Northwest drivers using less gas than national average

Posted by Dylan Rivera, The Oregonian April 17, 2008 18:35PM

 

Northwest motorists are individually buying 10 percent less gas than they did nine years ago, now consuming about a gallon a week less than the national average.

 

But population growth means more drivers, and that has kept overall Northwest gasoline consumption about the same.

 

More:

 

http://blog.oregonlive.com/pdxgreen/2008/04/northwest_motorists_are_indivi.html

Gas price at Speedway, Westerville 4-22-08: $3.59

 

For 87 octane, no less.

 

This. Completely. Sucks.

 

And. It. Will. Get. Much. Much. Much. Much. Worse.

http://www.southparkstudios.com/episodes/103216/

 

SMUG ALERT!

http://news.yahoo.com/s/afp/20080423/pl_afp/usmilitarybudgetoil_080423074627;_ylt=A0WTUcsd6w5IO2gAuQJsbEwB

 

Pentagon worried about spiking oil prices

 

Wed Apr 23, 3:46 AM ET

 

WASHINGTON (AFP) - After spending 15 billion dollars on oil in 2007, the Pentagon said Tuesday it was concerned over rising prices, since for every dollar oil goes up in price, an extra 130 million has to be added to its budget.

 

Oil price is "a significant concern for us today," Undersecretary of Defense Tina Jonas, the Pentagon's chief financial officer, told a conference organized by Jane's defense information group.

 

"Fuel has more than tripled in price over the past four years," Jonas said, adding that "for every dollar increase in the cost of fuel, we end up increasing by 130 million dollars in terms of operational costs."

 

Oil futures Tuesday leapt to a record close of 119.37 dollars a barrel in New York, after briefly skirting the symbolic threshold of 120 dollars.

 

More at above link:

Oil company stocks are OK, but they aren't good long-term (5+ years) investments. Yes, the price of oil is going up but so is the cost of exploration and exploitation. The supply isn't going up.

 

Buy commodities, especially metals. Take as long a position as you can. If you aren't made of money and can't afford futures, try a commodity tracking fund. Deutsche Bank has a decent fund. And, as always, buy land -- particularly agricultural land and learn how to farm it or raise livestock (or hire someone who knows). Also invest in learning a basic skill like carpentry, home repair/restoration, mechanical skills, etc.

I had to go to 3 stations yesterday to find $3.59, it was $3.79 everywhere else for 87 octane.  Standing there pouring my money into my tank, I was indeed glad for the $ I have saved in taking public trans to/from work.  I have taken public trans to/from work for a long time though, while my husband went from a job a 10 minute drive away to one that is 45 minutes drive one-way (no, public trans is not an option), sometimes more during rush hour.  We'll have his car paid off in a year so I'm trying to look forward to that.  My working 2 jobs just about pays for his car payment so it's definitely helping, it's just hard to maintain over a long period of time.

Just put 10 gallons in my 1998 Civic. Trip mileage (reset to zero at the last fill-up): 350 miles.

 

Translation: my grampa-like driving habits (no aggressive city driving, 60mph on the dot on the highway) yielded me a combined mileage of 35mpg. A full 5 mpg over the fueleconomy.gov estimates for my make, model and year.

 

http://www.fueleconomy.gov/Feg/noframes/14091.shtml

 

Go ME! (slowly)

But now history is repeating itself - with a vengeance.

 

That is a beeeoottch!!

"It happened too rapidly for the American automakers to take sufficient action," said Aaron Bragman, an auto analyst for the Waltham, Mass.-based consulting firm Global Insight. For example, 74% of the vehicles Chrysler sold in the U.S. last year were trucks and SUVs, compared to 42% at Toyota Motor Corp.

 

Baloney it happened too fast.  I hate to say this, but American automakers are just plain dumb and short-sighted.  Toyota and Honda knew what was coming and planned for it.  Now, they are reaping great rewards for their foresight, as they should.  But, the "Big 3" just plain blew it.  They are too focused on short term profits to recognize, let alone plan for, the future.  '

 

Of course, I lost my allegiance to the American automakers back in the 80's upon hearing a news story that Detroit had lobbied for tariffs on Japanese vehicles because they were supposedly "dumping" their cars here at below cost.  What did the Big 3 do upon getting the tariffs?  They raised their prices to match the tariff increase.  To heck with them...

Baloney it happened too fast.  I hate to say this, but American automakers are just plain dumb and short-sighted.  Toyota and Honda knew what was coming and planned for it.  Now, they are reaping great rewards for their foresight, as they should.   But, the "Big 3" just plain blew it.  They are too focused on short term profits to recognize, let alone plan for, the future.  '

 

It's the second time they've blown it. The Japanese built smaller cars in the 1970s and were a good way to save money on vehicle purchase and fuel costs. And, of course, Japanese cars were much more reliable. U.S. carmakers were way too slow to respond.

I think the U.S. automakers just don't want to build high-quality small cars. They intentionally build inferior small cars to move you upmarket and upsize to large vehicles that they already know how to make a big profit from. They could figure out a way to do small cars much more profitably, but that margin would still pale in comparison to the $8,000-per-Escalade profit that they currently enjoy.

 

Look at how high-quality the full-size trucks and SUVs from the U.S. automakers are - dead reliable, stout chassis, wonderful interiors and refined engines and transmissions. The smaller the vehicle gets, the more corners are cut and the quality and craftsmanship drop substantially. Many American consumers are zombied out to think there is no way to build a nice small car. The ones that aren't zombied-out have experienced the tightness, fit and finish, sharp handling and pleasant automobiling found with Honda, Mini, Toyota, small BMWs and Mazda.

Growing up in the 1970s, few American cars were well made including the large ones (most were large compared to the foreign jobbies).

 

And earlier this decade, before oil took its huge turn upward in price, I don't recall American car manufacturers doing that well.

 

But you are very right about U.S. car companies not knowing how to make a nice small car. After visiting Europe a couple of times, I thought the small cars there were very sharp, sporty and snazzy... Peugeot, Vauxhall, Alfa Romeo, BMW, Audi, VW, Mercedes and other small, affordable cars.

 

Here's a couple of Vauxhalls, which I wish we had in this country...

 

 

The next two are the Tigra, which sells for as little as £13,000:

 

even though I spend very little on transportation, all this gives me such a sick feeling-economic collapse, more war-probably both are coming. As someone said on this or another thread, for the public and the government to indicate they did not see this coming is asinine. Our fuel dependency is essentially what will destroy us.

Gas prices top economic worries - survey

About 44% of survey participants say that the pinch at the pump is a 'serious problem.'

Last Updated: April 29, 2008: 6:28 AM EDT

CNN/Money.com

 

WASHINGTON (AP) -- Paying for gasoline easily tops the list of economic woes facing families in the United States, according to a survey on how changes in the economy have affected people's lives.

 

About 44% of survey participants said paying for gasoline was a "serious problem" for them. Across all income levels, the cost of gas was the most frequently cited economic concern. The price of gas nationally averaged $3.60 a gallon on Monday, according to the Energy Department.

 

More than a quarter of households earning more than $75,000 a year described paying for gasoline as a serious problem. For those with incomes of less than $30,000, about 63% felt that way.

 

Find this article at:

http://money.cnn.com/2008/04/29/news/economy/gas_concerns.ap/index.htm 

 

pretty good job there PD! that means a lot coming from me.

 

  "Four bucks is my breaking point."

 

    They said that at $3.00, and $2.00, and a while ago, $1.50.

My breaking point is getting breached. I began by carpooling with a co-worker on Tuesdays since we don't go on interviews on deadline day. Last week and from now on, I'm taking RTA on Mondays since I can buy a day pass that gets me from Lakewood to downtown on the #55 to pick up police department brevity summaries at the Justice Center, then I take the #75 to North Olmsted (takes an hour on Lorain with all those damn non-interactive traffic lights). Then I catch the #75 back downtown to go to council meetings and return home on the #55 or #75 (whichever shows up first). All that for a $4 day pass. I figure that alone saves me $3-4 in gas, not to mention the parking meters and wear-and-tear on my aging car.

 

But my work requires that I drive solo the remaining three days of the week. Maybe someday I'll end up working at a downtown or somewhere else within walking distance.

http://www.urbancincy.com/2008/04/get-off-juice.html

$3.65 per gallon in Columbus tonight according to NBC-4.

 

Of course, TV news will give us a barrage of stories about:

 

.... "pain at the pump"

 

.... Disgruntled motorists pumping gas

 

.... endless "news you can use": great insight into the obvious about

how to save gas when you drive.

 

But will we get any stories shedding light on what's being done to create options to the car?

 

Will we get an in-depth investigation on why Ohio's gasoline tax goes only to highways and no other mode?

 

Will we get anything beyond a cursory look at how pitfully-funded transit systems in Ohio are still seeing increases in both ridership and demands for more and better service they cannot afford without going back to reluctant taxpayers to pass a levy?

 

Don't hold your breath. 

Yup...it's $3.65 down here in Cincy too.

It won't result in major changes until we get close to parity with what Europeans pay. They still drive a hell of lot, but the English have been livid about the run up in prices as well.

I didn't hear a peep from the English about gas prices when I was there March 11-23. Though I've read how mad they are in the past week after the pipeline got shutdown. That will probably clear up in a few more days.

 

When I was in England in March, the Brits (and us) were paying up to £1.10 per litre, or £4.16 a gallon. That's a bit less than the cost of a McDonald's Happy Meal in the UK, or only slightly more than what we're paying here in the U.S. for a gallon of gas (and please don't throw in the dollar conversion which applies only after someone crosses the Atlantic and spends money).

I've been reading the Guardian and the Telegraph and they've had the same sort of news articles as we see here as the prices rise.

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20080430/NEWS11/804300417/-1/NEWS

--------------------------------------------------------------------------------

Article published April 30, 2008

 

Gas prices hit record $3.65 gallon

Price of crude oil spikes, then falls

 

By DAVID PATCH

BLADE STAFF WRITER

 

Driving to class at Owens Community College has never been an option for Mona McBride, who doesn't have a driver's license.

 

But lately, the buses she rides have been getting a bit more crowded.

 

"On the bus in the morning, it's hard," she said at lunchtime yesterday while waiting for the Owens shuttle that would take her back to Toledo from the college campus in Perrysburg Township.

 

"I try to stand right by the bus stop so I can be sure to get a seat."

 

LaQuanda Brown is one of Ms. McBride's new fellow passengers, and the reason is simple: the price of gasoline, which rose to $3.65 a gallon for self-service, unleaded regular for the first time in the Toledo area.

 

"The price of gas, I just can't afford it," Ms. Brown said. "This semester, I've stopped driving, and I'm sticking to the bus until it goes back down."

 

More at link above:

This link is symptomatic of the debate outside the US.

 

http://www.telegraph.co.uk/news/uknews/1915537/Petrol-prices-reach-and1635-a-gallon.html?source=rss

 

They are talking about 5 pound a gallon oil and that those prices are preventing people from driving.

Posted Apr 28th 2008 8:35PM by Sam Abuelsamid

http://www.autobloggreen.com/2008/04/28/now-we-know-why-the-automakers-werent-screaming-over-the-cafe-r/

 

Now we know why the automakers weren't screaming over the CAFE rules

 

When Transportation Secretary Mary Peters announced the first round of new CAFE rules last week, there was nary a peep from the automakers who had complained so vociferously about the the 35mpg standard in the first place. Now there is a clue as to why they have been so quiet. Until now, the fuel economy rules have always been pretty simple. There was a threshold for each model year (currently 27.5mpg for cars) and the sales weighted average for all cars sold by a manufacturer had to beat that level. All companies had the same threshold. If they fell short they paid fines and if they exceeded it they could earn credits towards future years.

 

 

http://money.cnn.com/2008/05/01/news/international/usgas_price/index.htm?postversion=2008050110

 

U.S. gas: So cheap it hurts

Relatively low taxes have kept pump prices far below most other developed nations, which some say is precisely why the current runup is so painful.

 

By Steve Hargreaves, CNNMoney.com staff writer

Last Updated: May 1, 2008: 12:18 PM EDT

 

More at above link:

http://news.yahoo.com/s/nm/20080430/ts_nm/usa_politics_gastax_economists_dc_1;_ylt=Apk3Hu1dbKx9nX0EOuhWpDyAsnsA

 

Clinton-McCain gas tax holiday slammed as bad idea

 

By Alister Bull

Wed Apr 30, 9:52 AM ET

 

WASHINGTON (Reuters) -

[...]

Republican McCain and Democrat Clinton, who is battling Obama for their party's nomination, both want to suspend the 18.4-cents-per-gallon federal gas tax during the peak summer driving months to ease the pain of soaring gas prices. The tax is used to fund the Highway Trust Fund that builds and maintains roads and bridges.

[...]

(Editing by Bill Trott)

 

I'm with Obama on this one, and a lot of other people seem to be figuring it out, too. A gas tax holiday will only sustain demand, while putting a crimp on funds that are already insufficient to maintain transportation infrastructure.

 

The problem I have with a lot of the people who oppose a gas tax holiday is that they're using a flawed example of crumbling infrastructure; several times I've read/heard someone citing the I-35 bridge collapse in Minneapolis. Most recently I heard it this morning from a commentator on NPR.

 

The investigation of that tragedy determined that the bridge collapsed because the gusset plates used in construction were only half as thick as they should have been. The report stated that impending failure could not have been detected by inspection of the structure because it was not a result of corrosion or other deterioration.

 

If opponents of a tax holiday want their arguments to hold up under scrutiny, they should base them on relevant examples. Otherwise, they're building a case that will collapse like a badly-engineered bridge.

How much does it cost you to drive?

 

Consider this 2007 data from the AAA, costs which most certainly have gone up this year...

 

http://www.aaapublicaffairs.com/Main/Default.asp?CategoryID=3&SubCategoryID=9&ContentID=23

 

Ever wonder how much you're really paying to drive your car every year?

 

$9,641

 

That's how much a person driving a medium sedan 15,000 miles a year can expect to pay, excluding loan payments.

 

 

In coming up with the estimates below, AAA figures in average fuel, routine maintenance, tires, insurance, license and registration, loan finance charges and depreciation costs. Fuel prices are based on late-2006 national averages.

 

AAA has been conducting this annual analysis since 1950. That year, driving a car 10,000 miles annually cost 9 cents a mile, and gasoline sold for 27 cents per gallon.

 

Composite national average cost per-mile for 2007: 52.2 cents

 

 

See below chart for a more detailed breakdown by miles driven and vehicle type.

 

With Your Driving Costs, AAA brings motorists the tools and advice they need to estimate their operating and ownership costs to get a better understanding of the total impact of their vehicles. The annual guide includes a worksheet for figuring your own costs.

 

For more information on Your Driving Costs, please contact your local AAA Club.

 

How Much Does It Cost to Drive?

2006 Vehicle ... 10,000 Miles/Year .... 15,000 Miles/Year ... 20,000 Miles/Year

Small Sedan*        50.5 cents               41.4 cents               37.4 cents

Medium Sedan*     61.8 cents               52.5 cents               48.2 cents

Large Sedan*       74.2 cents               62.5 cents               56.8 cents

4WD SUV*           81.5 cents               66.6 cents               59.6 cents

Minivan*              69.2 cents               57.6 cents               52.2 cents

 

Fuel costs based on the late-2006 average gas price of $2.256 per gallon.

 

*Small Sedan - Chevrolet Cobalt, Ford Focus, Honda Civic, Nissan Sentra and Toyota Corolla.

*Medium Sedan - Chevrolet Impala, Ford Fusion, Honda Accord, Nissan Altima and Toyota Camry.

*Large Sedan - Buick Lucerne, Chrylser 300, Ford Five Hundred, Nissan Maxima and Toyota Avalon.

 

Because it incorporates significant changes to driving cost calculations -- most notably the averaging of costs for multiples top-selling vehicles in each size/type category -- this edition of Your Driving Costs is not comparable to previous editions. The changes in methodology are designed to provide more accurate driving costs and better reflect current consumer vehicle purchasing habits.

How do you calculate this if your car is paid off and old!

They probably figure it all equals out, since you're probably making more repairs to your car that is no longer covered by warranty.

They probably figure it all equals out, since you're probably making more repairs to your car that is no longer covered by warranty.

 

My car is like 18 years old.  LOL  I think it has 60k miles on it.

I think it says that this is excluding loan payments, though maybe they only mean interest.

How do you calculate this if your car is paid off and old!

 

You add your gas receipts to the amount of the mortgage payments on your mechanic's second home.

LOL.  Please I haven't driven my car in three months.  I got close a few times, but was able to get my cousin, parents or brother to drive.

Great article.  It would be indeed nice for America's inner city's to be like Europe where the suburbs are the PJs

Chrysler CEO: We can meet job-cutting goals

Bob Nardelli says company will not upset the United Auto Workers; introduces deal to fix price of gas for new customers.[/u]

May 6, 2008: 6:20 AM EDT

 

AUBURN HILLS, Mich. (AP) -- Chrysler LLC Chairman and Executive Bob Nardelli said Monday the automaker should be able to meet its job-cutting goals without antagonizing the United Auto Workers.

 

Chrysler also announced an offer that caps the price of gasoline at $2.99 a gallon for three years for people who buy or lease new vehicles from Wednesday through June 2. The offer is based on 12,000 miles of driving per year at the vehicle's rated fuel economy.

 

Customers will get a card for buying gas that is linked to their own charge account, Chrysler said. The customer will be billed $2.99 a gallon, and Chrysler will pay the rest.

 

Find this article at:

http://money.cnn.com/2008/05/06/news/companies/chrysler_jobs.ap/index.htm?cnn=yes 

 

The Daily Standard (Celina newspaper) has a fuel cost calculator on their website for towns in Mercer and Auglaize Counties and other nearby towns that people commute to for jobs and school.  Although the locations on the calculator won't interest anyone on this site, I would love to see some of these for the larger Ohio cities so the people living further and further out can actually see how much money they are wasting by having their long commutes.

Gas is now $3.75 where I live and $3.63 just 15 minutes away. This sh!t is ridiculous.

Although the locations on the calculator won't interest anyone on this site, I would love to see some of these for the larger Ohio cities so the people living further and further out can actually see how much money they are wasting by having their long commutes.

 

Why, you need not wonder, my young searcher. There is such a resource readily available.

 

Check out the cost of driving calculator at the Southwest Ohio Regional Transit Authority's website (data based on AAA figures and current gas prices).............

 

http://www.sorta.com/costofdriving.html

Thanks KJP.  I also found one buried on the Miami Valley Regional Planning Commission website, too.  I guess my real issue is, with the Dayton Daily News at least, they are always quick to post links to their database of where the cheapest gas in town is, but never post any commuting calculator or anything like that.  Those looking on the SORTA or MVRPC website probably already have some sort of interest/knowledge of the issue, but it would be nice to make it easily available to a wider audience.

We just did. And I'll make note of it in my future Write of Way columns in Sun News.

Hope for the best, prepare for the worst?

 

http://blogs.moneycentral.msn.com/topstocks/archive/2008/05/06/a-scary-thought-gasoline-at-7-50-a-gallon.aspx

 

Gasoline at $7.50 a gallon is something nobody should go into denial over because there are going to be big problems from prices at levels I've suggested, including:

 

Will there be any U.S.-based auto manufacturers left? The answer depends entirely on how fast they can transform their product lines. Chrysler is in deep trouble already. That probably means more stress for the Midwest.

Will there be any domestic airlines left? The so-called legacy airlines (American, United, Northwest, Delta and Continental) would either try to combine into one big carrier or simply disappear. They're having serious troubles surviving as it is. This means big troubles for cities where these airlines operate hubs that generate thousands of jobs like Atlanta, Cleveland, Newark, Houston, Chicago, Denver, Dallas, Memphis and Minneapolis-St. Paul.

 

How will big convention cities survive? Places like Las Vegas, New Orleans, Atlanta, Chicago, New York, San Francisco and Houston have thriving convention industries, all built around the capacity of airlines to transport conventioneers to and from the destinations relatively cheaply. Emphasis on the word "cheaply."

 

How will tourist destinations like Florida or Hawaii cope? Add to that places like, say, Williamstown, Mass., whose Williamstown Theater Festival is a big draw, or Ashland, Ore., home of the Oregon Shakespeare Festival. They're not close to major cities.