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On This Day In History, Gas Prices Have Never Been Higher
Between Hess' plant closing and scheduled maintenance, the squeeze appears to be on the refining space and wholesale gasoline prices are smashing higher. Along with flares in geopolitical risk (Ankara today and Israel/Syria earlier in the week) driving underlying crude prices, Gas prices (at the pump) are surging - to record highs for the first week of February as per AAA, hitting an all time high of $3.465 for this day and just surpassing last year's price of $3.455; and based on where wholesale prices are (given the lag), we could be seeing $4.00 gas at the pump in the next few weeks.
as Wholesale Gasoline prices rise at their fastest in almost two years...
and with Crude prices rising and wholesale gasoline being squeezed, could retail prices push back above $4.00 again?
Charts: Bloomberg
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High gas prices are sure to jump start the eCONomy
BULLISH
DOW to 15,000 and beyond!
Wow, and we're still coming off the effects of the Obama administration's election-time oil price manipulation scheme.
Thank god inflation is tame.
Yay cripplingly high gas prices crushing the working poor! That's what you get when you think you are too good for food stamps, Section 8 housing, SSDI, WIC, and Medicaid!!! TAKE THAT!
Time to ratchet up the gas taxes!
Thanks Bernanke and company. Here's what you have done: http://economiccollapsenews.com/
Duh. They print like their shit don't stink.
.
Time to break out the West Virginia credit card!*
*five-gallon can and a siphon hose
Thats a good one got to be good for the economy raising the smile index.
Here are a couple of others
Scarbourgh Suitcase - 12 pack of beer
Toronto Tuxedo - red and black plaid lumberjack jacket
I'm sitting behind this pizza delivery guy at the stoplight yesterday and thinking-how can this guy be making ANY $ w/ gas at $3.75 a gallon if it takes you a gallon to get to the delivery and a gallon to get back-I mean the guy wasn't driving a Prius
Hopefully he had half a dozen pies and gets tipped well. Around here someone was driving a fucking Yukon Denali delivering pizza last week, yeah....the Denali with the 6 liter gas drinking bitch of a V-8. I am going to take a stab here and guess the driver is not that smart.
Hope & Change.
Inflation is/was the goal. Asset classes have gotten ahead of themselves in the rush to avoid 'eating the inflation', but wage earners are losing ground daily. The net result will be a lower standard of living for the median person in the developed world.
I have no idea what gasoline and crude prices will do in the near future. But, I can see that Obama clearly does not care about actually, ahh, creating more production. I do understand that the whole energy problems we have (of course) depend on much more than short-term drilling.
But, in looking at this problem of high gasoline prices, I always come back in my thinking to GOLD. If I have to pay more for a tank of gas and if that affects my other spending, too damn bad. I will just keep buying physical gold, "poco a poco", and that will take care of any heartburn I have re high energy prices.
My only problem with gold is the huge price it may bring. I can't see paying $5K for a loaf of bread. Silver seems much the better bargain considering it is nowhere near the historical 15-1 gold/silver ratio. And of course Obama does not care about anything but fairness and redistrbution. He is the least interested President in history when it comes to how wealth is produced.
1/10th oz Eagles help solve that. I own silver and platinum too. PM diversification is great!
I talked to some old people in spain about the problem of commerce with high value gold coins.
They told me that it was normal to run a household on store credit or pay up front for a month's supplies deliverable everyday.
An example would be that it'd be normal to pay your baker or grocer or milkman on day 1 of the month for one loaf of bread daily delivery. Paying after one month of delivery was also normal.
Recovery!
Everyone I talk to is positive about the economy. There is no inflation and jobs are picking up. With healthcare costs at their lowest in history, we are entering a new golden age.
(Sarcasm)
Agree. Inflation is tame this year. My health insurance premiums up only 12%.,.....dark chocolate uponly 8%....gas up....postal fees up over 6% (for international shipments)....and so on....
You mean golden shower
Bullish Drinking Water!
Especially adding in the Frack Attack on water sources.
I pay $140 for 2 months of water in Oregon where it reains every freaking day andthe water out of the tap is so bad you can't drink it!
So then I get to buy filtered water good enough for drinking for 35 cents a gallon.
Frack Me!
You are fracked because you don't have a brain in your skull. If you get a water filter for
your kitchen faucet it only costs 5-10 cents a gallon. If you get one of those old fashioned
ceramic filters you can just collect rain water to filter (opps maybe that doesn't filter out
radio active particles, check first). If you have that much rain water get a big storage
tank to supply your household needs and disconnect from the town water. It is expensive
but ever look into drilling your own well, assuming you have enough land and space
to drill.
Don't be a victim. Think outside the box
The govt doesn't like it when you steal their water.
http://www.naturalnews.com/029286_rainwater_collection_water.html
In April 2011, Ben Bernanke said the increases in food and gas prices would be transitory. The only transitory thing I see is the purchasing power of the middle class, as an increasing amount of dollars is needed for basic essentials.
Deflation bitchez!
@ Alaric and blabam, + 1 guys!
"Transitory Deflation" my azz.
As our stupid energy policies (leaving aside stupid economic policies) kick in, we have a grim future ahead. Who knows if ANYONE could fix it... But, we have Four More Years which will NOT fix anything. Au contraire.
"Barack and Francois, up in a tree....."
Nicely done. The conditioning is almost complete. Push gas above $4 for a while, then drop it back down again so people feel relieved. Then use any excuse in the book to push it back above $4 and leave it there. The new normal is here.
But there is no inflation......ever. Cus we don't count no stupid gas and food.
Well, there is an inflation taget of the Fed. The problem is the target happens to be for everything us plebes use. Of course, Vasoline prices are skyrocketing because of demand for less sphincter breakage due to bankster anal raping, so that is more a supply and demand situation rather than money supply situation.
their is no inflation........if you have no money to spend......
We also need to remember that the gas has been diluted with alcohol.
courtesy of corn grown due to a subsidy by the FedGuv.
The price of gas is not going up. The value of the dollar is going down.
A piece of paper has never been worth any more that the value of a piece of paper.
What is happening is that the world is starting to come out of their stupor.
Gas for Silver Dollars at the pumps Bitchez
Okay, but the price of a gallon up here in my neck of the woods shot to almost $4/gal last year, then recently tanked all the way back to 2.82 a couple of weeks ago, and now we're back to the $3.50 range almost overnight.
I was at the station(midwest-blue collar town) last night and as I was looking around at the other pumps most people were putting exactly $20 in their tanks instead of filling up-so either these people all work for GS and know the price of gas will drop rapidly next week-OR THEY'RE ALL FUCKING BROKE
Midwest?
No doubt you were in a Greedway, er, Speedway-controlled state. Our prices are up an average of over 50 cents a gallon since Tuesday. Some are up over 80 cents since then, with another jump coming in the next few days.
Both and they're related. Money only represents real stuff. Oil is the ultimate stuff. As it gets harder to get, the debt economy ignorantly betting on endless expansion goes through cycles of collapse. The price of ultimate energy rides the roller coaster that nevertheless climbs higher as the EROEI nevertheless goes lower. Like the naked truth of gold, add to this the desperate need to manipulate the price but, like gold, the effort is ultimately futile. The criminal idiots in charge then add fuel to the fire by expanding money supply in sick creative ways
$4,00 dollar gas?
You lot dont know how fucking lucky you are. We pay the equivalent of just under $12,00 gas here.
Over here its us stupid fuckers who eat cake.
Here in Italy the price is about 1.8 euros/lt, that is about 9.2 $ /gal.
More than 50% of the price are taxes. However, traffic is still intense (lower than 2 years ago, though).
I thought you guys ate fish and chips.
Jellied Eels doc,
Jellied eels. And pork faggots. Lots and lots of pork faggots. And tripe.
:-)
On top of cake mind.
What part of the pig is the faggot?
The middle bit of the brain, the Poofter gland.
:-)
Are the faggots smoked?
what do they do with the butt ends?
it must be Friday
Stub them out.
I think it is davey, I think it is.
Crack on mate and smile.
;-)
I think so,
The last one I had tasted like marlboros light.
you mean like w/ an AK?
I laughed so hard that I just about peed myself .
I'm sure there are white and yellow pork faggots in addition to smoked.
Inthemix96 said:
Quite a dazzling variety there, I must say.
One thing I've been wondering about: what's all this about spotted dick?
Get that checked out.
We pay California prices here in South Africa about $5 per gal.
The gov. fixes the price once per month and every petrol retailer here is obligated to charge the same price.
Damn, I don't feel so bad about paying $7 a gallon (Cyprus) now.
96 your humor (humour) (and your 1970's porn star mustache) are much appreciated.
Tyler, Please overlay gas prices and the SPX. I can't wait for the "Summer of Recovery" to coincide with another peak driving season.
BSD
Here you go.
http://research.stlouisfed.org/fred2/graph/fredgraph.png?log_scales=Left...
Alaric,
Thanks for the chart. I remember the good old days when I could fill up my Suburban for $50. Now I have to take out a loan when going to the gas station.
BSD
The good old days? My mom had a 1975 Ford Country Squire station wagon. I would load 6 friends into it with our surfboards, hit them each up $2.00 for gas, and that $12.00 would practically fill up the tank. It was the true "Endless Summer".
Hope the chart helped. FRED is a good source for charting different scenarios.
endless summer, a great movie, understated and droll
"Summer of Recovery"="Summer of Love"
now we just have summers of incest
Fuck you Bernanke.
May you burn in a fucking gas explosion while filling your fucking goldman paid-for car. Fucker.
LOL! You mad, brah?
Ah, that's so mean, he has just a little Ford Focus. ;-)
Somebody just got a job at McDonalds... KA CHING !
Another manipulation/rotation to make money for Wall Street and fuck over real people.
Went up over .50 cents in less than a week locally, that is too fast for "fundamentals" or "markets".
High energy...it's gooder for the economy!!!!
(especially if you import the stuff)
Two days ago gas was $3.21 a gallon. Today it is $3.79. WTF happened in two days? Did we attack Iran and I slept throught it?
gold dropped 12 bucks this am while i urinated. anything's possible.
I hate it when I piss away my profits
+1
Don't you remember, Hollywood and Wall Street have merged. THe special effects take trillions but sometimes look realistic.
Where you at Doc?
DOW is also just 70 points away from it's all time closing high from 2007:
http://www.pmbug.com/forum/f9/dow-s-p500-nearing-all-time-highs-2007-a-2...
So the buy and hold strategy would work out with an 11% drop based on the fraudulent CPI inflation adjustments alone. DOW should be 15,684 just to keep up with government stated inflation, let alone real inflation rates. Carry on.
But, smart (lucky) market timers who bought in Feb 2009 are up about 100%. Alas, I am not in that group. I do suspect that the time to sell stocks is coming very soon.
Correct re inflation, inflation distorts all the headline numbers.
Smells like Bibi to me...
Smells like a weak dollar caused by massive QE to me. Seen the EURUSD spread lately?
Someone send info on benny's security detail, thanks
On this day in History...
http://www.youtube.com/watch?v=aIJiW8d_c68
What goes UP is always much faster and higher , than what comes down
The day will come when we pick up the daily paper and read the headline:-
"Bersnank, SHOCK, Federal Reserve Head Found Dead!!!. Peeled Alive With A Blunt Potatoe Peeler. Took 16 Horrific Hours For Poisened Dwarf Too Die. Source Reveals, He Died In Fucking Agony, Screaming Like A Fucking Pig. Nurses Used "Neat" Iodine On Open Wounds, Only Prolonged The Shear Torture Bernanks Went Through, Not A Touch Of Skin Left On Tiny Mans Body"
Now thats a headline worth reading folks
Peeled alive with a blunt potato peeler? Your imagination is way to scary for me.
The forced removal of guns here doc has led to folk imagining how long we can PROLONG the fuckers death mate.
No easy one shot solution here friend, these fuckers is gettin peeled.
And I was exposed to trauma as a child.....
;-)
LOl that's funny. After I wrote that I thought...well they don't have guns, maybe that's the difference.
When I first left school I worked at a fish processing plant and my first gift was a 12" Filleting knife.
Japanese steel, not a half an inch wide. If push comes to shove, I am A fucking expert at filleting. And if I buy some fava beans and a nice chianti.
Game fucking on mate.
If you're comparing historical prices, shouldn't one inflation adjust to get a true apples to apples?
Taking into account the ROC, looks as if prices will actually be falling.
"This is all about building street cred for equities again..."
Brian Belski on CNBC - Chief Investment Strategist for BMO Capital Markets.
Laying out the need to propagandize a new generation of "investors", how to convince them (fool them) that the markets are not a rigged casino.
Absolute bullshit spewing from this guy; "U.S. is exquisitely positioned..." (yes, he said "exquisitely").
Joseph Goebbels is in Hell grinding his teeth and pounding sulfur with jealousy.
Toss in higher gas prices, that 2% smaller paycheck, more part-time jobs for older workers, and consumers are not going to be leading this economy anywhere. Toss in higher capital gains taxes, escalating Obamacare costs, and higher cost to businesses for gasoline, and they won't be hiring anyone anytime soon.
I'll be glad to see $4.00 gasoline - all it means is that the economic bubble will go POP that much sooner.
And in semi-related news concerning food inflation. When Burger King says have it your way can you request horsemeat free patties on your Whopper?
http://www.dailymail.co.uk/news/article-2271440/Burger-King-admits-selli...
Burger King admits it has been selling beef burgers and Whoppers containing horsemeatThe same company also made tainted burgers for Tesco, Asda and the Co-op, among others.
Someone might want to find a customer list for Silvercrest foods....
And the irony of all this from Silvercrest's homepage.
http://www.abpfoodgroup.com/divisions/abp-convenience-foods/our-companie...
"At Silvercrest we produce the highest quality frozen beef, lamb and pork burgers and grillsteaks at our high technology plant. Our customers include major leading retailers and foodservice companies in Ireland, England and across Europe.They serve the discerning customer who demand quality, taste and the assurance of rigorous food safety standards."
I wouldn't call anyone who eats Burger King a description of the above statement regardless of horsemeat and so much for all that high technology keeping horsemeat out of the consumer food chain.
seems like gas prices always dip into the Christmas retail season (so people have money to buy stuff in the stores?).
then right afterwards they jack up the gas price
Everything goes higher when you debase the currency by $85 billion per month.
Yes, and since the debasement was ramped up in 2009, higher gas prices are the only thing that has been able to wake the sheeple from their sleep. Maybe the pact that the Fed had with the oil companies has come apart and we will finally get a true picture of the disaster that $85 billion per month is creating. I will happily $4 per if it brings this Ponzi down and we can rebuild.
If it's able to get some of these fuckers off the road, and I'm not in stop and go traffic on the highway to and from work everyday for an hour+, higher gas prices could be a wash for me.
No. They democrats keep telling me its the bad oil companies that are causing it.
It's a good thing the price of gas doesn't count toward inflation, because otherwise therise in the price of gas would mean we have inflation
$4/gallon or 20 cents in "junk" silver ... just sayin.
Which is funny because if you went back to when we last minted silver coins that 20 cents in junk silver would have bought you one gallon of gas....go figure.
Which is why I asked what I did below, whether this was actually adjusted for real inflation or not.
With you there. I scrolled down to see the same chart adjusted for real inflation.... and it wasn't there.
Hope. Change. EOL.
Keeping with the ZH macro theme...
Isn't this simply the warming toad stuck comfortably in the pot prior to boil?
Trickle trickle trickle said the water boarding agent. You're not "actually" drowning, it just feels like it.
Let's create a reason within a lie to pretend there's another thing that makes you pay more for a lotta stuff.
Or....
It's called QE silly.
So did anyone adjust for real inflation, or the BS Core CPI?
Quit bitching about gas prices in the USA ! I just got back from SK where gas was $8 a gallon !! A humble dinner was $10 bucks per person not including tips.....USA is still very cheap compared.
Agree. Gas is very cheap in the United States, when priced in anything other than dollars. It should be $6 or $7/gal.
Can anyone tell me the real reason diesel is more expensive that gasoline?
It's for trucks, transportation. People have reduced driving, hence less demand for gasoline.
My guess would be that's what all the military hardware runs on, and they're moving all kinds of equipment these days...
To stop the movement to diesel vehicles. Jet Fuel A and diesl fuel are essentialy the same. Breakthroughs in Bio Diesel are happening everyday. We can not have a consumer market for diesel.
Can't have competition it would breakup the D.C. cartels.
Taxes, that is the honest reason for it.
Well, I do know that Fuel Oil and Diesel are both chemically and priced the same. So large uneccessary use of that hydrocarbon is another reason.
It's quite unfortunate that many still haven't switched their heating to electric or Natural Gas - it's a lose-lose situation in that scenario.
One could and can say that one cent up is one cent closer to the predicted day when 'americans', exhibiting once again their well renowned ingenuity, release on the world all those energy solutions they have been claiming to be able to develop.
The higher the gas price is, the closer this day is.
All hail the 'american' ingenuity, giving them the ability to overcome the environment.
'Americans' for the win.
AnAnonymous said:
Have you been licking toads again?
Obamey - a man for the little people my __ __ __ (fill in blanks)
Up 82 cents a gallon since Tuesday, at the lower priced stations in town. Average jump has been 52 cents.
Kerosene baby!
Fuck that, kerosene has been at $4.60 for three years. Uber rip off.
But it does so many things that gasoline only wishes it could do.
Good news comrades! The ministry of plenty has just announced the ration of victory chocolate has been increased to 25 grams per week! This will help alleviate the pain at the pump!
REAL Money is "gold/silver" according to Blacks Law Dictionary.
AND it buys more gas now than EVER.
Don't confuse a change in fiat money value with a price change!!!
Fuck this shit! If you haven't known, there's a shit load of mark-up and manipulation from crude up to unleaded at the pump, hence why Exxon and BP and others made RECORD PROFITS!
Keeping mark-up the same + money printing + bond bubble = People getting fucked over for having a neccesity; transportation.
Escalating gas prices, rising taxes, rising medical costs and more deficits....looks like a solid recovery is just around the corner...as declared by the government slaves (socialists) for the last 3 years. Com'on Benny, crank that baby...