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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 | 2861252 nmewn
Fri, 10/05/2012 - 18:07 | 2861255 tsx500
tsx500's picture

THIS IS VERY BULLISH  !!!!              ; )

Fri, 10/05/2012 - 18:11 | 2861263 NewThor
NewThor's picture

What America needs is a car that runs on debt.

ZOOM ZOOM, bitchez.

Fri, 10/05/2012 - 18:20 | 2861288 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 | 2861308 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 | 2861324 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 | 2861563 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 | 2861610 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 | 2862361 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 | 2862631 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 | 2861347 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 | 2861389 czarangelus
czarangelus's picture

$4.79 yesterday in Santa Cruz county

Fri, 10/05/2012 - 19:09 | 2861450 californiagirl
californiagirl's picture

$4.979 at Chevron, over the hill from you.

Fri, 10/05/2012 - 18:39 | 2861353 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 | 2861417 Zap Powerz
Zap Powerz's picture

WORD!

Fri, 10/05/2012 - 18:35 | 2861337 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 | 2861457 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 | 2861472 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 | 2862166 williambanzai7
williambanzai7's picture

FREE GAS

Fri, 10/05/2012 - 18:49 | 2861380 Ham-bone
Ham-bone's picture

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

Fri, 10/05/2012 - 18:20 | 2861286 LMAOLORI
LMAOLORI's picture

 

 

nmewn Under Obama's plan we become Zimbabwe

Fri, 10/05/2012 - 18:37 | 2861343 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 | 2861641 max2205
max2205's picture

Ben'll print some oil

Fri, 10/05/2012 - 18:07 | 2861254 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 | 2861264 semperfi
semperfi's picture

There's plenty of fiat to eat - fiber !

Fri, 10/05/2012 - 18:14 | 2861272 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 | 2861298 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 | 2861266 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 | 2861344 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 | 2861378 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 | 2861488 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 | 2861704 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 | 2861775 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 | 2862461 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 | 2861259 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 | 2861270 HelluvaEngineer
HelluvaEngineer's picture

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

Fri, 10/05/2012 - 18:24 | 2861300 Insideher Trading
Insideher Trading's picture

You forgot minority.

Fri, 10/05/2012 - 18:50 | 2861386 nmewn
Fri, 10/05/2012 - 19:09 | 2861443 Frozen IcQb
Frozen IcQb's picture

Is this for real???

 

The USA is doomed!

Fri, 10/05/2012 - 19:15 | 2861462 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 | 2861595 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 | 2861615 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 | 2861848 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 | 2861260 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 | 2861295 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 | 2861312 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 | 2861334 Frozen IcQb
Frozen IcQb's picture

"Woodford Reserve" does it here in America.

I need a fill-up.

Fri, 10/05/2012 - 18:45 | 2861313 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 | 2861558 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 | 2861262 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 | 2861265 The big unzip
The big unzip's picture

Long bicycles bitchez

Sat, 10/06/2012 - 03:21 | 2862308 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 | 2861268 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 | 2861323 NotApplicable
NotApplicable's picture

The password is: refinery capacity.

Fri, 10/05/2012 - 18:57 | 2861408 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 | 2862466 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 | 2861269 Yen Cross
Yen Cross's picture

 

 All that(auto-mobile), channel stuffing?

14.96  vs 14.50  

 

 

Fri, 10/05/2012 - 18:15 | 2861273 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 | 2861328 DCFusor
DCFusor's picture

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

Fri, 10/05/2012 - 18:15 | 2861275 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 | 2861277 kill switch
Fri, 10/05/2012 - 19:52 | 2861600 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 | 2861282 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 | 2861293 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 | 2861399 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 | 2861459 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 | 2862468 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 | 2862475 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 | 2862502 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 | 2861605 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 | 2861284 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 | 2861291 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 | 2861336 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 | 2861345 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 | 2861567 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 | 2861644 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 | 2862310 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 | 2861294 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 | 2861297 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 | 2861329 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 | 2861340 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 | 2861390 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 | 2861518 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 | 2861393 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 | 2861482 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 | 2862318 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 | 2862436 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 | 2861318 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 | 2861325 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 | 2861330 NidStyles
NidStyles's picture

Inflation is a bitch.

Fri, 10/05/2012 - 18:35 | 2861335 hmmmstrange
hmmmstrange's picture

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

Fri, 10/05/2012 - 18:36 | 2861339 NotApplicable
NotApplicable's picture

That'd sure make those bankers shit their pants!

Fri, 10/05/2012 - 18:47 | 2861370 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 | 2861416 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 | 2861575 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 | 2861444 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 | 2862061 Overfed
Overfed's picture

We have always been at war with Eastasia.

Fri, 10/05/2012 - 19:08 | 2861445 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 | 2861588 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 | 2861453 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 | 2861534 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 | 2861611 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 | 2862118 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 | 2861496 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 | 2863052 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 | 2861541 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 | 2861719 Bicycle Repairman
Bicycle Repairman's picture

What is the price of gas in gold?

Fri, 10/05/2012 - 20:40 | 2861756 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 | 2861867 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 | 2862253 Zap Powerz
Zap Powerz's picture

Clearly, the other 7 werent paying their fair share.

Fri, 10/05/2012 - 23:25 | 2862102 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 | 2862121 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!