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On This Day In History, Gas Prices Have Never Been Higher (Again)

Tyler Durden's picture





 

While we are told to assume it is entirely transitory and speculation-driven, the price to drive your brand new GM Truck (leased for 30 years, interest-only via your EBT card) has never been higher. Do not worry though since this is only temporarily going to mean 'little Timmy' needs to go without food. As a Public Service Announcement, we have also estimated that the opportunity cost of every additional $1/gallon is just 16-20 $0.99 iGizmo apps you can do without for a week (but given sentiment surveys it would seem you do not need any further sedation).

 

(h/t @Not_Jim_Cramer)

 


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Fri, 10/05/2012 - 18:07 | Link to Comment nmewn
Fri, 10/05/2012 - 18:07 | Link to Comment tsx500
tsx500's picture

THIS IS VERY BULLISH  !!!!              ; )

Fri, 10/05/2012 - 18:11 | Link to Comment NewThor
NewThor's picture

What America needs is a car that runs on debt.

ZOOM ZOOM, bitchez.

Fri, 10/05/2012 - 18:20 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

We don't just have a car that "runs on debt"...shit, we have a whole fucking car company...GM.

Fri, 10/05/2012 - 18:26 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Today I paid $4.04 / gallon for 93 octane at an el cheapo in S FL.  "Hi-test" is now typically $4.39 if you pick an expensive station.

Fri, 10/05/2012 - 18:32 | Link to Comment DCFusor
DCFusor's picture

So, when are you going to get a Volt like me, DoChen?  I know you're smart, and a charge works out most places so that about $1.25 takes you the first 40 or so miles on power company power.

Fri, 10/05/2012 - 19:42 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Short answer: Woman likes the SUV!  

I also would need a 100' extension cord and permission from my condo association to charge it...

Yeah, yeah, I know:  Baah-aah!  Baaah-aaah-aah!  sez the sheep...

Fri, 10/05/2012 - 19:53 | Link to Comment CoolBeans
CoolBeans's picture

A Volt?

Really?  We have 4 kids.  It would be like driving a clown car.

Sat, 10/06/2012 - 05:26 | Link to Comment The Alarmist
The Alarmist's picture

Meh ... adjusted for inflation we are right about where we were in the late '70s.

Sat, 10/06/2012 - 10:43 | Link to Comment Pool Shark
Pool Shark's picture

 

 

Actually, gasoline is even cheaper than it was in the late 70's:

http://www.youtube.com/watch?v=QPwZ-wQFFu8

As of yesterday's close, gasoline is only about $0.18/gallon:

http://www.coinflation.com/

 

Fri, 10/05/2012 - 18:37 | Link to Comment The Navigator
The Navigator's picture

I got you beat - I just paid $4.63/gal for regular at the local Chevron in San Diego.... luckily my tank is only 10 gallons.

Fri, 10/05/2012 - 18:50 | Link to Comment czarangelus
czarangelus's picture

$4.79 yesterday in Santa Cruz county

Fri, 10/05/2012 - 19:09 | Link to Comment californiagirl
californiagirl's picture

$4.979 at Chevron, over the hill from you.

Fri, 10/05/2012 - 18:39 | Link to Comment DCFusor
DCFusor's picture

And Harley, and Chrysler....and so forth - all companies seem to run on debt.  You obviously missed the FOIA release of who got emergency funds from the fed window - even mcdonalds and verizon!

Fri, 10/05/2012 - 18:58 | Link to Comment Zap Powerz
Zap Powerz's picture

WORD!

Fri, 10/05/2012 - 18:35 | Link to Comment Chuck Walla
Chuck Walla's picture

 

What America needs is a car that runs on debt.

ZOOM ZOOM, bitchez.

 

 

I think thats Choom Choom, bitchez....

FORWARD SOVIET!

 

Fri, 10/05/2012 - 19:12 | Link to Comment SafelyGraze
SafelyGraze's picture

one of the big contributors to fuel waste is all that silver moving around between the us and other countries all over the world. 
https://en.wikipedia.org/wiki/Commodities_exchange 

let's say the average silver trade is between parties "only" 1000 km apart

the cme alone hosted a daily volume of 50,000 contracts (5000 ozt per contract) in august -- 250,000,000 ozt (a quarter billion)
http://www.cmegroup.com/trading/metals/files/MoMU.pdf

now for the environmental carbon footprint monetary impact analysis of those exchanges

1 ozt = 0.3 newton, so you're looking at more than a billion ozt traveling 1000 kilometers every day. 

0.3 * 1,000,000,000 newton * 1,000,000 meter

yes. that's 3*1014 newton meters

which is the equivalent of 47,000 barrels of oil.
every. single. day.

and at 100 dollars per barrel, all that silver-exchanging is ripping through millions of dollars every day. totally non-productive.
it's a scandal.

Fri, 10/05/2012 - 19:19 | Link to Comment Bunga Bunga
Bunga Bunga's picture

Already reality when paying gas by credit card. Next step is that Ben buys up all those securitized pump bills to bring the cost of car ownership down.

Sat, 10/06/2012 - 00:18 | Link to Comment williambanzai7
williambanzai7's picture

FREE GAS

Fri, 10/05/2012 - 18:49 | Link to Comment Ham-bone
Ham-bone's picture

Now that's a good chart...lower left to upper right. 

Fri, 10/05/2012 - 18:20 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

nmewn Under Obama's plan we become Zimbabwe

Fri, 10/05/2012 - 18:37 | Link to Comment nmewn
nmewn's picture

We're damned near there...clearly this calls for the passage of another 2500 page "law" before someone actually reads it ;-)

Fri, 10/05/2012 - 20:02 | Link to Comment max2205
max2205's picture

Ben'll print some oil

Fri, 10/05/2012 - 18:07 | Link to Comment Zap Powerz
Zap Powerz's picture

Fuel shortages turn into food shortages.  What will the people in densely populated urban areas do when the food runs out and they have no where to go?

My guess:  cannibalism. People...the other white meat.

Fri, 10/05/2012 - 18:11 | Link to Comment semperfi
semperfi's picture

There's plenty of fiat to eat - fiber !

Fri, 10/05/2012 - 18:14 | Link to Comment Squid Vicious
Squid Vicious's picture

You can live on crystal meth and tap water for a few days before you have to start eating people

Fri, 10/05/2012 - 18:22 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

With Bath Salts people will start eating people right away.

People will have to give up Pot because it gives them the munchies

Disabled Grandma Uses Bear Spray To Fend Off 13 Attackers After Her Marijuana Grow

Fri, 10/05/2012 - 18:11 | Link to Comment SgtSchultz
SgtSchultz's picture

Have no fear.  Obama can supply nearly anything from his "stash" of cash.

http://www.youtube.com/watch?v=_Ojd13kZlCA

Fri, 10/05/2012 - 18:38 | Link to Comment Chuck Walla
Chuck Walla's picture

 What will the people in densely populated urban areas do when the food runs out...

Got Glock?  http://youtu.be/tqmLUC0qYC8

FORWARD SOVIET!

Fri, 10/05/2012 - 18:55 | Link to Comment californiagirl
californiagirl's picture

The food won't run out. It will become like in the movie "Soylent Green". The mad scientists will genetically modify food to turn all of us into unwitting cannibals. There is already quite a bit being developed.  Some examples:

Jello with human genes (http://www.telegraph.co.uk/science/8743068/Do-you-fancy-a-jelly-baby-mad...) This will probably show up in your pharmaceutical gel-caps and processed foods first.

Rice that produces human milk. Anheuser-Busch stopped them from planting it in Missouri so it ended up in Kansas. (http://www.bizjournals.com/sacramento/stories/2005/04/18/daily7.html)

Rice that produces human blood (http://www.popsci.com/science/article/2011-11/genetically-modified-rice-...). 

Then there's the stuff that is just gross, like veggies crossed with spiders, scorpions, snakes, cockroaches, etc.

Once these kinds of plants are out there, you can't stop mother nature and insects from spreading the pollen and mutating more and more plants.  (http://www.ricelitigation.com/component/content/article/16-arkansas-supr...)

 

Fri, 10/05/2012 - 19:23 | Link to Comment Ness.
Ness.'s picture

Thank God I live in Shitcago because I love dark meat (but then again.. I'm assuming that people thighs taste like chicken).

 

Just paid $4.69 a gallon in the "organizer's" community. 

Fri, 10/05/2012 - 20:21 | Link to Comment SilverRhino
SilverRhino's picture

It's actually said to taste like pork.  

Considering the disease vectors and how ridden the general population is, I'll take my chances with rice and beans.

Fri, 10/05/2012 - 20:50 | Link to Comment Ness.
Ness.'s picture

I was thinking that if it tasted nasty I could just slather it in BBQ sauce and convince myself I'm munching on a McRib.  

 

Mmmmm... Now I want a McRib.  Can I put that on my EBT card?

Sat, 10/06/2012 - 08:24 | Link to Comment Urban Redneck
Urban Redneck's picture

Cannibalism is more of dark meat thing (at this point)-

http://newsrescue.com/birom-christians-eat-roasted-flesh-of-muslims-they...

Fri, 10/05/2012 - 18:12 | Link to Comment Insideher Trading
Insideher Trading's picture

Great idea to come out of Obama imminently:

Tax payer funded gas vouchers. That will bring down the price.

But since 50% of taxpayers pay no tax and we already can't pay on the debt we have he'll have Bernanke print the money for the gas vouchers. Double whammy to get prices down.

Fri, 10/05/2012 - 18:13 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

You unemployed, you on disability, you get Obama gas card.

Fri, 10/05/2012 - 18:24 | Link to Comment Insideher Trading
Insideher Trading's picture

You forgot minority.

Fri, 10/05/2012 - 18:50 | Link to Comment nmewn
Fri, 10/05/2012 - 19:09 | Link to Comment Frozen IcQb
Frozen IcQb's picture

Is this for real???

 

The USA is doomed!

Fri, 10/05/2012 - 19:15 | Link to Comment nmewn
nmewn's picture

It is very VERY real.

And to all you SEIU dues paying members out there, you paid for her to give me hours of amusement...from the bottom of my heart, thank you ;-)

Fri, 10/05/2012 - 19:50 | Link to Comment CoolBeans
CoolBeans's picture

Saw that woman on the news the other day....makes one wish there was a LOT more chlorine in the gene pools out there.

Fri, 10/05/2012 - 19:55 | Link to Comment nmewn
nmewn's picture

Eleven bucks an hour to protest a two hour event doesn't go as far as it used to...but she does get "free" food, lodging & transportation ;-)

http://politics.gather.com/viewArticle.action?articleId=281474981666030

Fri, 10/05/2012 - 21:17 | Link to Comment CoolBeans
CoolBeans's picture

I heard an interview w/paid protestors and I thought my head might explode.  Just crazy.

Fri, 10/05/2012 - 18:10 | Link to Comment californiagirl
californiagirl's picture

Yup. Paid $4.979/gallon to fill the tank last night here in Silicon Valley.  Wonder what it is today.

Fri, 10/05/2012 - 18:21 | Link to Comment Zap Powerz
Zap Powerz's picture

I can afford high gas prices, but this is ridiculous.  If this trend continues I will have to start drinking 12 yr old McCallan instead of 18 and that really pisses me off.

Fri, 10/05/2012 - 18:29 | Link to Comment e-man
e-man's picture

If you're drinking 10-15 gals of McCallan 12 or 18 per day, I'd say you have far more serious problems than the price of gas.  You should be drinking Aberlour A'Bunadh for starters...:D

Fri, 10/05/2012 - 19:10 | Link to Comment Frozen IcQb
Frozen IcQb's picture

"Woodford Reserve" does it here in America.

I need a fill-up.

Fri, 10/05/2012 - 18:45 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

$6 Diesel is more troubling since food other goods move by truck if this spreads oh, oh

 

http://www.californiagasprices.com/index.aspx?fuel=D

Fri, 10/05/2012 - 19:41 | Link to Comment Debeachesand Je...
Debeachesand Jerseyshores's picture

With Diesel at $6.00 a gallon in California,evrybody in America will be kicked in the balls.

Fri, 10/05/2012 - 18:12 | Link to Comment e-man
e-man's picture

In California, filled up my car yesterday morning at $4.59.  By the time I got home, it was $4.79.  I think I want to be paid twice a day from now on...

Fri, 10/05/2012 - 18:12 | Link to Comment The big unzip
The big unzip's picture

Long bicycles bitchez

Sat, 10/06/2012 - 03:21 | Link to Comment Wile-E-Coyote
Wile-E-Coyote's picture

This year Italy sold more bicycles than cars. This is a global thing. In the UK gas is $10.90 a gallon.

Fri, 10/05/2012 - 18:12 | Link to Comment jerry685
jerry685's picture

US total gasoline retail sales...

about 1/2 of what we used just 4-6  short years ago...

 

 

Oil prices are not pointing to higher gas....I smell a rat...and he is eating my money...

 

 

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=A103600001&f=M

Fri, 10/05/2012 - 18:32 | Link to Comment NotApplicable
NotApplicable's picture

The password is: refinery capacity.

Fri, 10/05/2012 - 18:57 | Link to Comment nmewn
nmewn's picture

Exactly.

The reflecting pool on the DC Mall could be filled with oil...little statues of cherubs peeing oil in fountains...and without refineries to process it...no gasoline.

On the other hand, I think I read somewhere that we actually export gasoline. Probably not the "boutique" blends that Kalifornia requires for just about every occasion though.

Sat, 10/06/2012 - 08:31 | Link to Comment Urban Redneck
Urban Redneck's picture

That password only works for US-domiciled users.  Try this one <GLOBALIZATION>

The US exported all those good paying jobs overseas, and now there are more foreigners with good paying jobs competing with the unemployed Americans for the same gas.

Fri, 10/05/2012 - 18:17 | Link to Comment Yen Cross
Yen Cross's picture

 

 All that(auto-mobile), channel stuffing?

14.96  vs 14.50  

 

 

Fri, 10/05/2012 - 18:15 | Link to Comment stopcpdotcom
stopcpdotcom's picture

UK 1968 - "Petrol will never be more than five shillings a gallon."

USA 2012 - "Gas will never be more than five bucks a gallon."

 

Fri, 10/05/2012 - 18:33 | Link to Comment DCFusor
DCFusor's picture

And since that's true, electric cars will never be worth it, right?  /sarc

Fri, 10/05/2012 - 18:15 | Link to Comment Zap Powerz
Zap Powerz's picture

How long before the Obama administration comes out and says that, according to their surveys and statistics, the real gas prices are 1.59/gal?

:)

We would believe it too wouldnt we because were all just dumb sheep believing everything we are told to believe on the TeeVee.

 

Fri, 10/05/2012 - 18:16 | Link to Comment kill switch
Fri, 10/05/2012 - 19:52 | Link to Comment Tsunami Wave
Tsunami Wave's picture

On this day in History.... my expectations for the future of everything have never been lower (again).

Fri, 10/05/2012 - 18:17 | Link to Comment ToddGak
ToddGak's picture

We are going through some crazy stuff in California.  Last week $4.09, yesterday $4.59.  They say it's because some refineries went offline.  My jaw literally dropped when I pulled into the station and saw how much and how fast the increase was.

Fri, 10/05/2012 - 18:21 | Link to Comment Yen Cross
Yen Cross's picture

Cali is so fucked up! Greece is further along!  I'm ashamed to say I'm from California.

  3 million people have exited over the last 10 years. That's bullshit! Three million "illegals", have entered!

Fri, 10/05/2012 - 18:54 | Link to Comment californiagirl
californiagirl's picture

Deja Vu Enron.  Shut everything down for "maintenance" at the same time there are real problems, like the Richmond Chevron fire, and you have a crisis that you don't want to waste.

Fri, 10/05/2012 - 19:14 | Link to Comment Yen Cross
Yen Cross's picture

Ports, of Long Beach, San pedro, San francisco, San Diego>ect.... and yet we get hosed on fuel prices!? The shit gets trucked to (RENO NEVADA) and resold for less!  

            Yes APPL (nuclear) gets cheaper gas!

Sat, 10/06/2012 - 08:34 | Link to Comment Urban Redneck
Urban Redneck's picture

Why don't you blame the regulators appointed by the officials YOU ELECTED and the rules they write, instead of blaming those who have to comply with the regulations they wrote.

 

Sat, 10/06/2012 - 08:51 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

if you were a private oil co CEO, Why would you not screw Cali??-the state hates fossil fuel co's ;seems CA could expect a little blow back. I am surpised the oil co's don't do a lot more with that states restrictions/mandates on gasoline types. volts for everyone and see how produce gets to market crops get grown and constuction gets done.

Sat, 10/06/2012 - 09:32 | Link to Comment Urban Redneck
Urban Redneck's picture

Revenge would be nice, but it's not generally profitable.  The "scheduled maintenance" is product of the regulatory calendar and the cutover to winter blend, the oil co's freely admit that simply changing the calendar date for the cutover would relieve some of supply pressure (and price).  The refinery fire and power loss the other day (unscheduled outages) are merely compounding factors (which have outsized impact on price precisely because the People's Republic is off in its own little world.    If CA simply got rid of its completely insane separate blending requirements then existing refined fuel stocks could simply be offloaded in Longbeach and SF TODAY and delivered to local stations, or trucked or railed in from bordering states.  There is no shortage of oil or gasoline at $4 or $5 a gallon, there is simply a shortage of gasoline that meets the specifications of Claifornia's insane bureaucracy.  And actually big oil could increase its margins while decreasing consumer costs if the regs were suspended.  

Fri, 10/05/2012 - 19:53 | Link to Comment Tsunami Wave
Tsunami Wave's picture

Down here in Central Florida.. I paid $3.54 a gallon for regular to fill up.  Sorry to you guys..

Fri, 10/05/2012 - 18:18 | Link to Comment blunderdog
blunderdog's picture

Nothing serious here.  The biggest state's little kerfluffle is gonna skew that data for everyone else.

Fri, 10/05/2012 - 18:20 | Link to Comment Frastric
Frastric's picture

Not sure what you Americans are complaining about, British gas (petrol) is about $10 per galleon and life goes on. In fact higher petrol prices make the roads safer; people drive slower to save money.

Fri, 10/05/2012 - 18:35 | Link to Comment NotApplicable
NotApplicable's picture

Our gas is far, far more expensive that $10 a gallon by the time you factor in the military costs.

Fri, 10/05/2012 - 18:37 | Link to Comment DCFusor
DCFusor's picture

Don't confuse these electric car haters with facts...what's the cost when you add deaths?

Fri, 10/05/2012 - 19:43 | Link to Comment ToddGak
ToddGak's picture

Yeah, but:

  • Our country is much more spread out so we have to drive farther
  • Our public transportation is crap, unless you live in New York
  • We have huge inefficient cars

That's why we're complaining.

Fri, 10/05/2012 - 20:20 | Link to Comment Ness.
Ness.'s picture

+1... I work with a 'chap' from Edinburgh who said that they pay roughly $11/gal. and he can't believe the number of SUV's retarded American's  who buy one just to sit in traffic.  I would love to take public trans, but I'm too old to dodge all of the hypodermic needles wedged into the cracks of the seats.

Sat, 10/06/2012 - 03:25 | Link to Comment Wile-E-Coyote
Wile-E-Coyote's picture

Yeah right reported yesterday gas consumption down 12% since 2008 in the UK.

That is about 2.5 billion litres so far this year.

Fri, 10/05/2012 - 18:20 | Link to Comment Atlantis Consigliore
Atlantis Consigliore's picture

October Surprise, 2 weeks!  $ 6 dollars. kicks of Recession:  http://youtu.be/c4iHOEQt9zE

Fri, 10/05/2012 - 18:21 | Link to Comment Squid Vicious
Squid Vicious's picture

Just got back from Home Depot -  completely empty at 6:15 on a friday... except for the employees and a guy trying to sell solar panels, yet the stock makes new highs every day... truly a bizarro market...but the Walmart was hopping maybe it's EBT day?

Fri, 10/05/2012 - 18:34 | Link to Comment Yen Cross
Yen Cross's picture

 Hey! it's all good. The Bernanke MBS "put", is unlimited! This fucking "Gravy Train", is going to come to a screeching halt soon!

Fri, 10/05/2012 - 18:35 | Link to Comment DCFusor
DCFusor's picture

I use my panels to charge my Volt, and right about now, I'm laughing my ass off, though I might have to mow less next year - tractor is a gas hog by comparison...junk away...bitches.

Only an idiot would get PV panels at the hardware store.  WAY overpriced.   I guess that's why they are trying so hard to sell them there.

Fri, 10/05/2012 - 18:51 | Link to Comment Yen Cross
Yen Cross's picture

Is this a confession, or are ya long " Photo Voltaic"?  It's all good .

Fri, 10/05/2012 - 19:32 | Link to Comment akak
akak's picture

Chinese solars, bitchez!

 

On another note, I just had lunch with a pension fund manager ....

Fri, 10/05/2012 - 18:53 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

So who the hell is paying you to post, or are you the latest Tyler troll plant?  If no to all of the above, I would be truly interested in your credentials because I bet I've taken more EE courses than your ass.

Fri, 10/05/2012 - 19:21 | Link to Comment Yen Cross
Yen Cross's picture

I suggest you roll back my profile. I would ask you the same question, but I have better things to do.

  Let's get to the "root" of your question.  ( you are indoctrinated). Courses aside, I'll hire "real world" any day.

   Perhaps you should check your moving averages?

Sat, 10/06/2012 - 03:33 | Link to Comment Wile-E-Coyote
Wile-E-Coyote's picture

Electric cars are shit, ever heard of range anxiety "Oh the charge is low will I make it home" actually that should read will I make it out of the drive.

Sat, 10/06/2012 - 07:42 | Link to Comment krispkritter
krispkritter's picture

You can buy Solyndra panels in bulk on Ebay. First the taxpayer gets hosed for the loans then we get to buy them back on Ebay.  Every time a tax-payer funded fuckup like this happens, they put up a website where the average taxpayer puts their name in, if it pops up in a drawing, YOU WIN! whatever you signed up for, tax-free. Only pay off suppliers or hard creditors, screw the poli's and 'investors'. 

Fri, 10/05/2012 - 18:30 | Link to Comment q99x2
q99x2's picture

Ya but you got yourself an Obamaphone you don't need to be drivin nowhere nohow. These days dey deliver. You know what I'm talkin about. uh huuh.

Fri, 10/05/2012 - 18:32 | Link to Comment lolmao500
lolmao500's picture

Yeah but how high are they compared to the average salary??   I bet they are lower now than they were during the embargo in 1973.

Fri, 10/05/2012 - 18:34 | Link to Comment NidStyles
NidStyles's picture

Inflation is a bitch.

Fri, 10/05/2012 - 18:35 | Link to Comment hmmmstrange
hmmmstrange's picture

Time to get a safety deposit box and fill it with gas.

Fri, 10/05/2012 - 18:36 | Link to Comment NotApplicable
NotApplicable's picture

That'd sure make those bankers shit their pants!

Fri, 10/05/2012 - 18:47 | Link to Comment CoolBeans
CoolBeans's picture

What if this is the beginning of staggered shortages designed to train the sheeple of the USSA to get used to what might be around the corner?

Now its gas in Calif.  Next it'll be gas somewhere else. 

Then, the food shortages will begin.  Then maybe it'll be rolling blackouts, etc.  I don't know -- I'm just sayin' "What if?"

Fri, 10/05/2012 - 18:58 | Link to Comment Zap Powerz
Zap Powerz's picture

I, for one, expect this exact scenario to play out and I have been planning accordingly for years.

Its to the point where if there isnt a zombie apocalypse Im going to be pissed.

Fri, 10/05/2012 - 19:46 | Link to Comment CoolBeans
CoolBeans's picture

I hear you - but if it doesn't pass on your knowledge (and put some of your supplies in your will) to the younger generation.  Since I was about 7 years old - I always thought it would be "us" to get it, however.

Fri, 10/05/2012 - 19:08 | Link to Comment Vince Clortho
Vince Clortho's picture

+1

Someone who understands.

Various levels in the process.  This is one.

Get used to it.

More surprises coming for the muppets.

Fri, 10/05/2012 - 23:00 | Link to Comment Overfed
Overfed's picture

We have always been at war with Eastasia.

Fri, 10/05/2012 - 19:08 | Link to Comment Mary Wilbur
Mary Wilbur's picture

Gas prices have been falling in my area (west Chicago exurbs). I bought gas at a BP station today for $3.86 a gallon. That's the lowest it's been for weeks if not months. The price began falling about 3 weeks ago. One thing strange I've noticed. Shell's and the small gas station's prices are higher, sometimes substantially. I have no idea why.

Fri, 10/05/2012 - 19:48 | Link to Comment ToddGak
ToddGak's picture

Our Shells out here in Cali are much more expensive too.  There's one around the corner from my house that is $.50 more expensive than the other brands, and it's always empty, because there are cheaper stations very close by.  Not sure how they stay in business.

Fri, 10/05/2012 - 19:13 | Link to Comment Boxed Merlot
Boxed Merlot's picture

So, when Kennedy was alive and president, gasoline was between .18 to .25 a gallon-depending on grade and location.    Of course you would have used real money, i.e. silver coinage. (or paper that was redeemable in such - at "face value").  As of today, such money would exchange at 6.24 frns per '63 US quarter, or about 1 and a half gallons.  So, I would beg to differ, gas was more expensive in 1963 than it is today.  We did however have to add a bit of lead to the formulation to keep those pesky tappets quiet, so the additional cost is a bit understandable.  (That is until unleaded came along and actually cost More than leaded.) 

Through the magic and wonders of the land of Oz, Mr. Benanke has given much credence to peak oil and discounted the effects of industriousness, technology and the orderly application of the rule of law to a whole new generation of lemmings.

imo.

Fri, 10/05/2012 - 19:35 | Link to Comment Citxmech
Citxmech's picture

You assume that the value of Au and Ag is constant - it isn't.  You need  to divide by the population/demand.  If there's only 1oz of Au available for every person, it's going to be worth more than if there are 2oz. for every person.  Continued mining and population expansion have changed the balance, as has the cost of production through automation etc.  Of course, you should also factor in the subsidy to fuel prices via the MIC while you're at it.  

Fri, 10/05/2012 - 19:54 | Link to Comment ToddGak
ToddGak's picture

Sure, that's all true.  But when the price of such an important commodity goes up 10% in the span of a week, or a few days, you're gonna feel it.

We got used to gas not keeping up with the rate of inflation.  Now that it's catching up quickly, it feels like it's getting really expensive.

Also, in 1963, you probably weren't paying 50% of your income for housing, like many people do now.  So you could afford to pay a little more for gas.

Fri, 10/05/2012 - 23:38 | Link to Comment MeBizarro
MeBizarro's picture

Bernanke is responsible for basically stagnant increases in global oil production since '05 and the failoff in production of a number of light, crude wells in a number of countries?  Peak oil does exist I just don't think you realize what it means.

Fri, 10/05/2012 - 19:24 | Link to Comment Michelle
Michelle's picture

"little Timmy" already goes without food 'cus ma and pa won't cook or learn how to cook nutritionally dense meals. All their Snap benefits are already gone until Nov. 1st thanks to the high cost of nutritionally defunct high-calorie junk food. Thank goodness for the federally funded free school lunch program where little Timmy can load up on a Michelle Obama-mandated carbohydrate-rich, low protein instituitionally prepared heat n' serve breakfasts and lunches (that don't even meet the federal standards of providing 1/3 of daily caloric needs per meal) with his last meal of the week coming on Friday at noon and his next meal won't satiate his hunger pangs until school opens Monday morning. "little Timmy" doesn't know any other life, he doesn't know it doesn't have to be this way. He only knows that come 11:30 p.m. October 31st, he'll be at the neighborhood grocery store with ma and pa loading up the cart with what he believes to be "good" food.

Sat, 10/06/2012 - 14:22 | Link to Comment NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

"October 31st, he'll be at the neighborhood grocery store with ma and pa loading up the cart with what he believes to be "good" food."

Snickers and such!... Trick or Treat!... It's Halloween!... There's enough calories to last the whole next month about to arrive!...

Fri, 10/05/2012 - 19:36 | Link to Comment Atomizer
Atomizer's picture

 

 

Oh where, oh where

Has my little Methyl tert-butyl ether gone?

Oh where, oh where can it be?

http://www.arb.ca.gov/fuels/gasoline/cbgmtbe.htm 

 

Jimmy crack corn and I don't care

Jimmy crack corn and I don't care

Jimmy crack corn and I don't care

my master's gone away

Click<-- 

/LOL

Fri, 10/05/2012 - 20:27 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

What is the price of gas in gold?

Fri, 10/05/2012 - 20:40 | Link to Comment RMolineaux
RMolineaux's picture

By using only the first week of October, Tyler has dodged around the considerably higher prices that have occurred in other months.   Are the oil companies intentionally screwing California again?   A comparison of crude with gasoling prices over time would be useful.

 

Fri, 10/05/2012 - 21:23 | Link to Comment blunderdog
blunderdog's picture

So...I was out to lunch with a few friends several months back.  We were at some cheesy Cuban-themed place, food and service weren't any good, but there was an "all you can drink" sangria deal we'd decided we had to take advantage of.  Thing was: you could only have the sangria if you bought a DISH.

Well one of the diners was a "sensitive" eater.  Couldn't eat red meat, dairy, wheat, or fish.  For some ODD REASON, this diner didn't find anything on the menu that would satisfy the "must buy a dish" requirement, but was rather vexed when the server informed us she'd only bring 7 glasses.

There's a metaphor, here, of course.  The sensitive diner is California.

Do you think the restaurant was "screwing" this person?

Sat, 10/06/2012 - 01:37 | Link to Comment Zap Powerz
Zap Powerz's picture

Clearly, the other 7 werent paying their fair share.

Fri, 10/05/2012 - 23:25 | Link to Comment 10mm
10mm's picture

I joked to a friend the other day.I said one day ill be a hired gun,geeez,i was only kiddin.

Fri, 10/05/2012 - 23:38 | Link to Comment MeBizarro
MeBizarro's picture

Articles on here regarding energy in general are genreally poor.  This just isn't a good source for this topic. 

Do NOT follow this link or you will be banned from the site!