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Gas Prices Surge To Highest Ever On This Day At Fastest Pace In Four Years

Tyler Durden's picture


Despite being weeks away from the start of the driving season proper, gas prices - at the pump - have been surging recently. With premium now over $4 nationwide (over $5 in SoCal - up 25 days in a row), this is the most expensive gas has ever been for the second week in February despite gasoline being relatively well supplied. Gasoline futures have ripped higher as unplanned maintenance, refinery closings, and rising crude oil prices (seemingly more central bank liquidity-driven than middle-east tensions) have impacted wholesale price expectations (and thus retail). The 44c rise is the fastest in four years and the year-to-date surge over 12% (outpacing stocks) is almost four times faster than average. What is more worrisome is the fact that seasonally the next month or two are when the biggest price spikes occur - which coupled with the tax-hike drag, will inevitably eat into people's spending habits and sentiment.

Gas Prices at the pump are the highest on record for this time of year...


With the last month seeing the biggest rise in almost four years...


and far in excess of the average seasonal shift - which is set to start...


And in Southern California, $5 gas prices are now the norm!!


Charts: Bloomberg


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Mon, 02/18/2013 - 12:50 | 3253189 nmewn
nmewn's picture


Mon, 02/18/2013 - 12:53 | 3253206 NotApplicable
NotApplicable's picture

Walkin' in LA?

Mon, 02/18/2013 - 12:55 | 3253215 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

RoboTrader is.

Mon, 02/18/2013 - 13:12 | 3253293 Yen Cross
Yen Cross's picture

 Buying new Diapers, and laughing at Z/H... He knows the shitstorm is coming. (Robo Tard)

Mon, 02/18/2013 - 13:37 | 3253404 francis_sawyer
francis_sawyer's picture



Nice 'double entendre'... [because Robo is, in fact]:


- & prolly 'Walking in LA' as we speak

Mon, 02/18/2013 - 13:45 | 3253433 Talleyrand
Talleyrand's picture

Or jackin' it in San Diego.

Mon, 02/18/2013 - 14:01 | 3253489 true brain
true brain's picture

"the biggest price spikes occur - which coupled with the tax-hike drag, will inevitably eat into people's spending habits and sentiment."


Spending habits and sentiment: you're kidding right. How about eating habit? The relentless, merciless decline in oil productiion will be too obvious in the next few years and people will worry about food not spending on chinese made junks. Peak oil is here. but wait, shale oil and canadian sand oil will save us all. Then why is the price stubbornly around $100 a barrel. Hmm.


The good news is that Tibetans will soon have their freedom back.

Mon, 02/18/2013 - 14:37 | 3253633 fourchan
fourchan's picture

but ben sayz there aint no inflation. i dont get it?

Mon, 02/18/2013 - 14:40 | 3253643 Enslavethechild...
EnslavethechildrenforBen's picture

Five dollars a gallon is nothing. Wait till the price starts to go up. Fifty dollar a gallon gas is right around the corner.

Mon, 02/18/2013 - 15:11 | 3253740 steve from virginia
steve from virginia's picture



$50/gallon from a black marketeer ... 20% water in the gas.


(Already a daily occurance in Yemen, America's model country.)


Gas should cost $1,500 per gallon, its worth measured in human labor. Nobody would waste gas @ that price.


Nobody would burn a Picasso to keep warm.


Don't worry, Mr Economy will crash and take the boo-boo away. Oops! Won't have a job, no job-no money at all. 50 cent gas may as well cost $1,500. 


That's how the paradigm works: energy deflation ... coming to a suburb near you.


Peak oil is a bitch.

Mon, 02/18/2013 - 16:31 | 3253820 TruthInSunshine
TruthInSunshine's picture

 I insist that the U.S. Treasury print even larger batches of debt so that the Federal Reserve can purchases an even larger % of them in secondary markets from primary dealer banking entities than it is already purchasing, in response to rising energy, oil and gasoline prices.


--Dr. Paul Krugman, Ph.D. in the most fail-dismal science

Emeritus Douchebag

Mon, 02/18/2013 - 16:35 | 3253971 giggler123
giggler123's picture

Yep Dr. Paul Krugman has a PHD in home economics - That's cooking to me and you!

Mon, 02/18/2013 - 19:50 | 3254430 TruthInSunshine
TruthInSunshine's picture

Higher energy, oil & gasoline prices are highly stimulative to the economy (just ask consumers & most businesses), and as such, one can only hope that they head much, much higher, especially at a time of real wage declines, extremely high real unemployment and underemployment, and increased taxation.

Real inflation good.

Real deflation bad.

No matter what. Forever & ever.


Mon, 02/18/2013 - 21:44 | 3254628 Enslavethechild...
EnslavethechildrenforBen's picture

You could raise minimum wage to $100 an hour and it wouldn't stop this ship from sinking.

Because only 1 in 100 people have a job.

This ship is going down.

Man the lifeboats

Mon, 02/18/2013 - 13:46 | 3253436 Fredo Corleone
Fredo Corleone's picture

"You didn't refine that."

Mon, 02/18/2013 - 14:12 | 3253483 Yen Cross
Yen Cross's picture

  She was a hottie in her day.  francis_sawyer. I'm Australian, and have been very open with my intentions.  Cali can fall into the Pacific for all I care.  I LOVE MY FAMILY, AND THAT IS THE ONLY TIE TO THAT SHITHOLE!

Mon, 02/18/2013 - 14:40 | 3253645 scam_MERS
scam_MERS's picture

Meanwhile, on the news here in LA last night, there was video of libtard protesters against the Keystone Pipeline...guess they all love the over $5.00 gas here! I saw every kind of loony tune out there: Black families (WTF?), Hippies, Gays, Lesbians, Sierra Club...every envirowacko within a hundred miles of Downtown LA was out protesting.

From the article: "Hundreds of protesters marched on Los Angeles City Hall on Sunday as part of a nationwide demonstration designed to pressure President Obama into rejecting a Canadian pipeline that would bring oil into the United States."

Mon, 02/18/2013 - 14:59 | 3253705 Meat Hammer
Meat Hammer's picture

And then they all got in their cars and drove home.

Mon, 02/18/2013 - 20:50 | 3254532 knukles
knukles's picture

And awed and ooowwwed over those beautiful Chemtrails at sunset.

Mon, 02/18/2013 - 15:45 | 3253833 LFMayor
LFMayor's picture

sounded like a nice place to lay some Willy-Pete

Mon, 02/18/2013 - 16:04 | 3253890 secret_sam
secret_sam's picture

The pipeline isn't going to "bring oil into the United States" so much as "pipe oil THROUGH the United States."

I guess if you think the big oil refineries need more tax money, it's the right plan to support.

Mon, 02/18/2013 - 16:34 | 3253967 MrBoompi
MrBoompi's picture

As if we need an easier way for Canada to sell shitty oil to China so we can deal with the effects of burning it?  This libtard votes for wind and solar.


Mon, 02/18/2013 - 13:45 | 3253432 GrinandBearit
GrinandBearit's picture

Him and and that other bipolar idiot Rasputin.  These morons post the same nonsensical, hystrionic, anti-gold, pro-stock market posts day after day.  The exaggerate everything.  That Rasputin guy has a serious case of sellers remorse... after he sold all his gold at $1100, he's been hammering that board nonstop with anti-gold and anti-silver posts... every single day.  Robot Trader (captain hindsight) cherry picks high flying stocks and post charts everyday too.  These guys have some type of mental problem.  The mods there seem to like it though.


Mon, 02/18/2013 - 12:55 | 3253225 doomandbloom
doomandbloom's picture

Good thing they are hiking minimum wage.....sorted!

Mon, 02/18/2013 - 13:08 | 3253277 Lore
Lore's picture

...And thousands rally to protest against major pipeline projects.

Mon, 02/18/2013 - 13:10 | 3253287 walküre
walküre's picture

Good. Building pipelines is not the answer to our unsustainable and insatiable appetite for "cheap" energy.

Mon, 02/18/2013 - 13:17 | 3253315 hannah
hannah's picture


Mon, 02/18/2013 - 13:24 | 3253349 adr
adr's picture

Like that matters, we have the highest stockpile of oil and gas in years, yet the price we pay has been skyrocketing. The market is oversupplied yet the price rises.

The only supply and demand fundamental in play is how may Jews want to touch the contract this month, and how much money they need to make back from being long Apple.

A survey could come out showing Americans didn't pump a gallon of gas for a whole week and oil would still shoot up 5%.

Mon, 02/18/2013 - 13:28 | 3253370 walküre
walküre's picture

oil execs and politicians are colluding with bankers to keep printing their own paycheques until the end of day.

can't come soon enough ... the end of day

Mon, 02/18/2013 - 15:33 | 3253805 CrashisOptimistic
CrashisOptimistic's picture

Maybe we don't really have those claimed stockpiles.

Mon, 02/18/2013 - 18:44 | 3254290 Totentänzerlied
Totentänzerlied's picture

"We" certainly don't. The US military and favored fedgov cronies do. Possession (and control of distrubtion) is the key.

Mon, 02/18/2013 - 21:40 | 3254625 clymer
clymer's picture

you beat me too it. I was going to say, "who is "we" fool?" (in my "what you talkin' bout willis" accent)

Mon, 02/18/2013 - 13:53 | 3253435 DaveyJones
DaveyJones's picture

It's almost as if...the players don't care about the locals

and the eroi is more crude than sweet

People are funny. Most will openly admit that oil companies (and countries addicted) would take advantage of people, destroy their land, hell invade them for their prize but at the same time, have a hard time thinking they would do it to them.  

Mon, 02/18/2013 - 13:26 | 3253356 blindfaith
blindfaith's picture



A wee bit of investigating on your part and you would know that the 'oil' is all to be exported...except for what spills on the gound in the USA.  THE ONLY ones who will benefit are the KOCK BROTHERS. ( spelling is delibert).

So, take your sound bite and disinformational comment and XXXX

Mon, 02/18/2013 - 14:55 | 3253688 Lore
Lore's picture



Interesting responses.

- Walküre drinks his Agenda 21 like a good boy, never asking who scripted the Green movement, or why. 
- Hannah thinks competition is stupid. 
- Some people on ZH blame Jews when their shoelace is untied. 

ADR is right.  The price mechanism is broken.  Smart producers will sell to buyers with good credit.  (From a Canadian standpoint, the longer Keystone gets put off, the better.) 

Tell you what, Walküre: Tear down all your pipelines, shut down the refineries, close all your factories, misallocate billions in "carbon tribute" toward ponzi scams like Solyndra, plant organic broccoli and raise a goat in your apartment, watch the skies for Unnatural Global Warming, wave to the Predator Drones, and see if you still feel smug at the end of your life. 

Mon, 02/18/2013 - 15:14 | 3253750 hannah
hannah's picture

competition is stupid....ha! lets raise the costs in the usa to equal the world. bring it on. max the shit out of everything.

hope you have your preps done.....

Mon, 02/18/2013 - 17:29 | 3254095 Lore
Lore's picture

How does paying a fair price, in a stable currency, and not in IOUs, honoring contracts, and generally living within your means personally and as a nation, constitute "maxing the shit out of everything?" 

Mon, 02/18/2013 - 21:43 | 3254626 clymer
clymer's picture

me thinks you build a good straw man, and are also very very confused

Tue, 02/19/2013 - 00:07 | 3255008 Lore
Lore's picture

The other guy thinks Americans are somehow entitled to crude at discount prices, paid for with depreciating IOUs.  Words stronger than 'confused' come to mind.

Mon, 02/18/2013 - 17:32 | 3254108 walküre
walküre's picture

You're exaggerating of course.

Exaggerate to discredit any opponent to the energy lobby. Have you seen the tarsands in Northern Alberta? Do you realize how much energy is required to extract crude from bitumen? Does that still make sense to you once you see the devastation on the land, the pollution of the tailing ponds and the efforts required to dig up and process the tar?

Nobody in their right mind opposes convential oil rigs and using pipelines for transport in general. Ignore the loons. Al Gore is a very dangerous man and how he convinced the world to start trading hot air is still beyond me. It's a racket. China is polluting faster than the West could ever reduce emissions. 25% of carbon emissions are from China. Per capita means jack shit in that regard.

Why aren't we drilling in Alaska's ANWR? That's conventional oil exploration and there's plenty of it. Lybia has supposedly the 2nd largest proven oil reserves in the ground and fairly easy to access. Comparable to the Saudi Ghawar field.

Mon, 02/18/2013 - 13:08 | 3253280 walküre
walküre's picture

supply is up

demand is down

prices are higher .. just because the cartel needs to keep the lights on

Mon, 02/18/2013 - 13:19 | 3253327 GMadScientist
GMadScientist's picture

yup; no "refinery capacity" intentionally pulled offline...just the same old gouging of people who have to work for a living via their inflexible demand.

SoCal == required commuter hell.

Mon, 02/18/2013 - 13:25 | 3253355 walküre
walküre's picture

Suburbia is screwed

Mon, 02/18/2013 - 15:35 | 3253810 CrashisOptimistic
CrashisOptimistic's picture

All oil is not created equal.

The old refineries could refine sweet light crude.  Not so much heavier, viscous crude.  So the capacity is "pulled" because it no longer has feedstock.

Mon, 02/18/2013 - 19:06 | 3254347 Real Estate Geek
Real Estate Geek's picture

not true. Venezuela ships sour crude here to TX & LA refineries that are designed for that grade.

Mon, 02/18/2013 - 22:19 | 3254680 Flakmeister
Flakmeister's picture

And that would explain the loss of 2 mmbpd of loss of light sweet capcity in Europe over the past 5 years...

Or the closures of the older refineries in the US northeast...

And why stocks of gasoline are down in the NE, hint, it ain't coming from Europe anymore...

At least you are trying, unlike many here obsessed with conspiratorial ideation...


Mon, 02/18/2013 - 15:06 | 3253724 LongBalls
LongBalls's picture

We are exporting our oil production.

Mon, 02/18/2013 - 15:40 | 3253821 CrashisOptimistic
CrashisOptimistic's picture

Russia isn't:

1.7% oil output decline from Russia in January.  Any declines at all have been rare, but the relevant folks have been waiting for Russia to crack.

Never ever forget, Russia, not Saudi Arabia, is the #1 oil producer.  If they can't hold flow rate, the world will be smashed.

Mon, 02/18/2013 - 15:55 | 3253862 CrashisOptimistic
CrashisOptimistic's picture

Russia isn't:

1.7% oil output decline from Russia in January.  Any declines at all have been rare, but the relevant folks have been waiting for Russia to crack.

Never ever forget, Russia, not Saudi Arabia, is the #1 oil producer.  If they can't hold flow rate, the world will be smashed.

Tue, 02/19/2013 - 00:37 | 3255111 Colonel Klink
Colonel Klink's picture

Like that matters as much.  The election is over, no need to keep the price supressed any longer.  The messiah was reelected!

Mon, 02/18/2013 - 13:26 | 3253357 847328_3527
847328_3527's picture

All those folks who bought a box way out in the 'burbs to save money and commute 50 miles twice a day....



Mon, 02/18/2013 - 15:07 | 3253726 LongBalls
LongBalls's picture

Don't worry. Wait till you need food.

Mon, 02/18/2013 - 14:20 | 3253561 Ignorance is bliss
Ignorance is bliss's picture

 I thought they were hiking the median wage. 

Mon, 02/18/2013 - 13:50 | 3253449 booboo
booboo's picture

Fuck You Bernanke

(just want to be on record in Zero Hedge archives as saying that, you know for posterity's sake.)


Mon, 02/18/2013 - 13:49 | 3253453 Floordawg
Floordawg's picture

Pissing Mersons

Mon, 02/18/2013 - 14:18 | 3253553 Stock Tips Inve...
Stock Tips Investment's picture

The world economy is moving again. Despite the increase in fuel production in the U.S., prices are also rising. Demand in developing countries through the roof. What can we expect?

Mon, 02/18/2013 - 12:54 | 3253210 Dingleberry
Dingleberry's picture

Thanks Heli-Ben!!


Of course, the idiot masses will blame those greedy bastards at the oil companies.

Mon, 02/18/2013 - 13:24 | 3253346 Mrmojorisin515
Mrmojorisin515's picture

how are ben and the oil companies seperate?

Mon, 02/18/2013 - 12:57 | 3253228 McMolotov
McMolotov's picture

<--- Blame Bush

<--- Blame speculators

Can't blame Obama, the Choomwagon runs on used cooking oil and weed resin.

Mon, 02/18/2013 - 13:08 | 3253278 A Nanny Moose
A Nanny Moose's picture

Hemp Oil

Mon, 02/18/2013 - 13:19 | 3253325 Midas
Midas's picture

Yeah, the price of gasoline is starting to hurt, but have you seen the PRICE OF ARUGULA?  Those arugula speculators are starting to piss me off.  Investigation?

Mon, 02/18/2013 - 13:23 | 3253342 francis_sawyer
francis_sawyer's picture

Hemp oil cures cancer... Don't tell anyone...


I just 'replanted' & rowed out my spring arugula for this year... It came from seed pods [which came from plants ~ which came from seedpods] that I grew 5 years ago... aka FREE

I expect a drone strike any minute now...

Mon, 02/18/2013 - 13:27 | 3253368 Hulk
Hulk's picture

with arugula roundup...

Mon, 02/18/2013 - 13:40 | 3253415 francis_sawyer
francis_sawyer's picture

Roundup = 'Agent Orange'

Mon, 02/18/2013 - 19:44 | 3254432 Overfed
Overfed's picture

Agent Orange is 2,4,D.  Roundup is glyphosate.

Mon, 02/18/2013 - 20:31 | 3254511 francis_sawyer
francis_sawyer's picture

Oh child please...


Pardon me if I don't argue... I'm going to be taking a break to get an aspartame sweetened soda [carefully avoiding the saccharine]...

Mon, 02/18/2013 - 13:32 | 3253383 Rustysilver
Rustysilver's picture


I am telling Mosonto.  See you at the Supreme Court.

Mon, 02/18/2013 - 13:50 | 3253455 francis_sawyer
francis_sawyer's picture

I'm fucked... With Ginsburg, Breyer, & Kagan I don't stand a chance of it being anything more than a kangajoo court...

Mon, 02/18/2013 - 14:03 | 3253484 DaveyJones
DaveyJones's picture

Don't worry, the FDA is on Monsanto's ass. Wait, I have that backwards

Ps. It is funny that arugula is expensive. It is one of the toughest and easiest greens to grow.

Mon, 02/18/2013 - 14:50 | 3253683 francis_sawyer
francis_sawyer's picture

it's a mustard green... Practically a fucking weed...

Mon, 02/18/2013 - 13:20 | 3253330 GMadScientist
GMadScientist's picture

Why didn't you present us with two choices?

(or did all the oil he bought for the SPR not count as "speculation"?)


Mon, 02/18/2013 - 13:23 | 3253343 socalbeach
socalbeach's picture

<-- blame mostly money printing.

<-- blame mostly peak oil

Mon, 02/18/2013 - 14:01 | 3253492 DaveyJones
DaveyJones's picture

It's a chicken and egg thing. The immediate cause is the money. The long term is reality

Mon, 02/18/2013 - 15:03 | 3253713 socalbeach
socalbeach's picture

Probably should have had choice 2 be "blame mostly peak oil or declining EROEI".  Too late now though.

Mon, 02/18/2013 - 13:27 | 3253365 Yen Cross
Yen Cross's picture

 Still blaming Bush, when drones are shaving you clean....

Mon, 02/18/2013 - 13:35 | 3253400 JR
JR's picture

Blame Bush as far as the oil companies are concerned but they hardly can be separated from the speculators. Consider this angle.

Robert Lenzner, Forbes staff, wrote a year ago, 2/27/2012, that speculation in crude oil at the time was adding $23.39 to the price per barrel.

Wrote Lenzner: “If there were no speculation in oil futures on commodities exchange, the price of a barrel of oil might be as low as $74.61– not more than the present price of $108.00 a barrel…

“As of February 23, 2012 ‘managed money’ held positions in NYMEX crude oil contracts equivalent to 233.9 million barrels of oil– the equivalent of about one year’s crude oil supply from Iran to Western European nations like France, Belgium, Greece, Italy and Spain.

As Goldman Sachs believes that each million barrels of speculation in the oil futures market adds about 10 cents to the price of a barrel of oil, this means that in theory the speculative premium in oil prices due to speculation is as much as $23.39 a barrel in the price of NYMEX crude oil.

“In turn oil analysts believe that every $10 rise in the price of crude oil translates into a 24 cent rise in the price of gasoline at the pump.   Using the 24 cent rise in the price of gasoline suggests that each dollar increase in a barrel of oil equals about $.56 per barrel.”

“So, if a barrel of crude oil is $23.39 higher because of speculative action in the commodity markets– this translates out into a premium for gasoline at the pump of $.56 a gallon. Since gasoline in the northeast is about $3.68 a gallon, this suggests that without any speculation, the cost of a gallon would be only $3.12, a lot more favorable outcome.” ..

One case in point: “During the summer of 2008 when crude oil per barrel rose to $145 a barrel, the  peak cost of a gallon of gasoline was at least $4.11. As prices skyrocketed gasoline usage declined, bringing down speculation, and thus the price of crude oil and gasoline.  George Soros, hedge fund operator, took a massive short position in crude oil at $137 a barrel, and profited when the price subsequently fell.”

Mon, 02/18/2013 - 16:03 | 3253888 Panafrican Funk...
Panafrican Funktron Robot's picture

It's worth noting that this can easily be applied in reverse, ie., futures contracts artificially suppressing prices.  Gold and silver are pretty obvious examples, but the price of oil crashing back in 2008/09 probably wouldn't not have had that kind of amplitude absent futures contracts.  

Mon, 02/18/2013 - 12:58 | 3253237 kridkrid
kridkrid's picture

Nobody could have seen it coming. Perfect storm... Peak debt, peak oil, peak shitstorm.

I quoted the same paper written by David Korowicz earlier today.... Trade-Off Financial System Supply-Chain Cross-Contagion: a study in global systemic collapse.

"There is a popular idea that the purchase of financial assets is investment. However, this 'investment' is primarily about re-allocation within the market. Asset values are maintained by sellers finding buyers, market values are maintained by favourable broad market sentiment. Market participants generally take for granted that virtual-to-real asset conversion can occur at will, which is the ultimate source of value. Only it is not tested as long as there in general faith in the market for proxy wealth.

If debt deflation were to significantly undermine GDP, or if the cascading effects of a financial collapse (arising from our current predicament) or peak oil were to cause a terminal decline or collapse in GDP, then the future prospects for proxy-to-real asset conversion would collapse."

Mon, 02/18/2013 - 13:11 | 3253289 hardcleareye
hardcleareye's picture

Here is a link to the pdf file of the paper referenced...  looks like a good read.


Love ZH blog ;)

Mon, 02/18/2013 - 13:27 | 3253369 kridkrid
kridkrid's picture

I had to read it a few times to get my arms around it. "Faith" that one can covert a proxy asset to a real asset is based on a number of other inputs that we also take on faith. Even the concept of a proxy for an asset is missed by most. I mean most realize that the value of their 401k goes up and down with the market, but that's as far as most will ever ponder. Until it is gone, of course. The fact that the house of cards is built on a foundation that requires perpetual growth telegraphs the end, but doesn't provide a date.

Mon, 02/18/2013 - 14:20 | 3253550 hardcleareye
hardcleareye's picture

I have read it before, just finished reading it again.

I could not help but think about Kyle Bass's insight, with respect to Japan, a MAJOR global hub on many different levels....

I think what you have to realize is when your debts are 24 times your central government’s tax revenue and you have a secular decline in population, and all of the things are finally catching up to you, what happens when you have a debt crisis?” Bass asked. “Your currency collapses.”


He gives it 18 months.....

Mon, 02/18/2013 - 14:38 | 3253635 kridkrid
kridkrid's picture

Yup. feedback loops will work the same way on the way down as they did on the way up. People don't want to think that way, of course. People want to believe that the good things on the way up were earned and that the unjust will be punished on the way down. We'll all be punished.

Mon, 02/18/2013 - 16:09 | 3253908 Panafrican Funk...
Panafrican Funktron Robot's picture

The part he's incorrect on is that the USD and EUR have "several more years" before they get crushed.  The JPY is a leg of the chair, with the other legs being the EUR, USD, and RMB.  What happens when you take out a leg of a chair? 

Mon, 02/18/2013 - 20:23 | 3254501 Totentänzerlied
Totentänzerlied's picture

Faith in strangers and proxies is a necessary condition for any advanced society, they cannot exist without it. The law is based on faith in laws, courts, judges, lawyers, and cops. Governments are based on faith in bureaucrats, taxmen, politicians, and taxation itself. Fiat currencies are based on faith (to state the obvious).

What happens when the institutions of Western civilization prove unworthy of trust? Ask any tribesman what happens if you trust a stranger. It is indeed a house of cards.

Mon, 02/18/2013 - 13:16 | 3253311 Silver Bug
Silver Bug's picture

Go back to sleep sheeple. There is no inflation here!

Mon, 02/18/2013 - 14:41 | 3253650 upWising
upWising's picture

That's right.  My TeeVee told me that In-flayshun is "under control."  I believe everthing my TeeVee tells me cuz if it's on TeeVee it's gunna be true.

Now sum stuff in costin' more, like grits, and hog jowls, and NASCAR tickits and the Mrs. says she's spending a whole lot more down at the PigglyWiggly Market but that don't mean there is in-flayshun.  

Once we start sayin' there is in-flayshun, the turrurrists has won!.  Can't have none of that!

And besides, The 10% I give to my TeeVee Preacher ever month ain't gone up, so that you go.  Ain't NO In-FLAYSHUN!  

Mon, 02/18/2013 - 13:25 | 3253354 Hulk
Hulk's picture

Not to worry, we will be energy independent (and a net exporter to boot) by 2020.

/major fucking sarc...

Mon, 02/18/2013 - 13:52 | 3253464 Shell Game
Shell Game's picture

+1  /funnier than shit sarc

Mon, 02/18/2013 - 13:51 | 3253459 From A West Tex...
From A West Texas Desk's picture

I've been focusing on the $GASOline-Thingy:

Use what you wish.

Mon, 02/18/2013 - 13:51 | 3253461 Shell Game
Shell Game's picture

LOL.  nmewn, those down-arrow haters are amusing...

Mon, 02/18/2013 - 13:57 | 3253481 From A West Tex...
From A West Texas Desk's picture

About time ZeroHedge has taken notice of GASOLINE Prices.

I've been tracking it for the last few weeks.

Take from it what you wish.


Mon, 02/18/2013 - 16:15 | 3253924 Panafrican Funk...
Panafrican Funktron Robot's picture

UVXY?  Really dude?

Mon, 02/18/2013 - 14:26 | 3253584 jerry_theking_lawler
jerry_theking_lawler's picture

the only reason for the increase in gasoline prices.....its an economic



Mon, 02/18/2013 - 15:20 | 3253771 Stoploss
Stoploss's picture

Remember. it's the stock market that's important. Nothing else.

Mon, 02/18/2013 - 12:51 | 3253190 Pseudo Anonym
Pseudo Anonym's picture

print more gasoline

Mon, 02/18/2013 - 12:55 | 3253222 Irelevant
Irelevant's picture

Print more oil with a high ERoEI. If possible over 100 to 1.

Mon, 02/18/2013 - 12:57 | 3253232 duo
duo's picture

for the first time in a long time, I was able to buy diesel at $3.99, while 93 octane was $4.01.

Mon, 02/18/2013 - 13:00 | 3253243 Irelevant
Irelevant's picture

Diesel in Zurich is 2 CHF/litre, 1.80 euros/litre in Germany, 1.65/litre in Austria, 1.80 euros/litre in Hungary.

Still the roads are packed!

Mon, 02/18/2013 - 13:56 | 3253473 Jay Gould Esq.
Jay Gould Esq.'s picture

Aye, but do these drivers travel 80km each way on a daily [ workweek ] basis, as a typical American suburbanite may commute ?

Mon, 02/18/2013 - 14:24 | 3253579 zuuma
zuuma's picture

I think Gas stations should just sell it by the cup.

Now the big signs will say: 

.29 - reg

.31 -super





Mon, 02/18/2013 - 12:59 | 3253240 Slartebartfast
Slartebartfast's picture

This is all due to, "refinery maintenance".  LOLOOLOL!!!!!!

Mon, 02/18/2013 - 20:35 | 3254515 francis_sawyer
francis_sawyer's picture

They're 'refining' the euphemisms in the press releases...

Mon, 02/18/2013 - 13:53 | 3253254 Shell Game
Shell Game's picture

hmmm, wonder what the price of gasoline would have been if not for the exorbitant privelage of being cursed, err, granted reserve currency status?

/rhet. question


Mon, 02/18/2013 - 13:37 | 3253401 Yen Cross
Yen Cross's picture

 That was beautiful!  Pseudo Anonym

Mon, 02/18/2013 - 12:51 | 3253192 Bunga Bunga
Bunga Bunga's picture

That's nothing, wait when we get higher minimum wages.

Mon, 02/18/2013 - 13:08 | 3253279 cowdiddly
cowdiddly's picture

Ah you caught that liitle bazooka being pulled out in the state of the union address too eh. Since no one wants a loan and the banks do not care if they lend or not, it is the next tool to get the party rockin so they can pretend they can still pay it back.

Mon, 02/18/2013 - 12:51 | 3253194 razorthin
razorthin's picture

These spikes have always signaled equity tops since 2000.

Mon, 02/18/2013 - 13:06 | 3253268 McMolotov
McMolotov's picture

Don't worry, it's priced in.

Mon, 02/18/2013 - 13:08 | 3253274 Michelle
Michelle's picture

And those spikes are encouraged by new shortsellers coming into the market.

Mon, 02/18/2013 - 12:52 | 3253195 CheapBastard
CheapBastard's picture

'evil speculators' at it again. Damn!

Mon, 02/18/2013 - 12:52 | 3253198 DrDre
DrDre's picture

The rumors of rising inflation are greatly exaggerated. 

Mon, 02/18/2013 - 13:49 | 3253450 Being Free
Being Free's picture

kind of like the walmart rumors

Feb. 15, 2013--As with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions.


Mon, 02/18/2013 - 14:17 | 3253549 DrDre
DrDre's picture

Deny, deny, deny, deny and again, deny ... and BTFD!

Mon, 02/18/2013 - 12:53 | 3253199 Hongcha
Hongcha's picture

Dear Leader needs to get right on this, after he gets back from his round with Tiger.

He needs to speak to, maybe, opening the door to gay cub scouts?  Lesbian brownies?  It's cookie season, after all.

Dear Leader. we await your word.


Mon, 02/18/2013 - 12:55 | 3253216 francis_sawyer
francis_sawyer's picture




Your Fearless Teleprompter

Mon, 02/18/2013 - 13:03 | 3253256 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He doesn't need to yell fore, his balls make it on the fairway every time!

If the SS want to keep their jobs, anyway.

Mon, 02/18/2013 - 13:19 | 3253328 francis_sawyer
francis_sawyer's picture

Oddjob was always handy with the shoe wedge...

Mon, 02/18/2013 - 13:39 | 3253408 Yen Cross
Yen Cross's picture

Sand Wedge. Fixed it for ya.

Mon, 02/18/2013 - 12:59 | 3253241 McMolotov
McMolotov's picture

"Lesbian brownies" is racist.

Mon, 02/18/2013 - 13:21 | 3253335 GMadScientist
GMadScientist's picture

Also free-range and vegan.

Mon, 02/18/2013 - 13:06 | 3253270 nmewn
nmewn's picture

lol...too true, anything to distract, obfuscate and change the subject off of the piss poor economy.


Mon, 02/18/2013 - 13:13 | 3253298 Yen Cross
Yen Cross's picture

Plus 1

Mon, 02/18/2013 - 13:30 | 3253376 Hulk
Hulk's picture

They wouldn't do that to us !?!?!?

Mon, 02/18/2013 - 13:41 | 3253417 Yen Cross
Yen Cross's picture

   Who is they? Bloomturd want's to build a database.

Mon, 02/18/2013 - 12:53 | 3253203 williambanzai7
williambanzai7's picture

The efficient market hypothesis says this is not happening.

Mon, 02/18/2013 - 13:00 | 3253244 Pseudo Anonym
Pseudo Anonym's picture

mr. chairman will take care of

The efficient market hypothesis....

Mon, 02/18/2013 - 12:54 | 3253208 gamera9
gamera9's picture

But bullish for the Chevy Volt

Mon, 02/18/2013 - 12:54 | 3253209 marathonman
marathonman's picture

How dare ZeroHedge run this article. Terrorists.

Mon, 02/18/2013 - 12:54 | 3253212 Al Capowned
Al Capowned's picture

In the UK its $11.20 a gallon...

Every slave in the UK carries a tube of KY around because they like to lubed before getting financially raped everyday,

70% of that price is tax , Literally getting out the bed in the uK means your going to get financailly raped, dont ever live here if your given a choice.

Mon, 02/18/2013 - 13:14 | 3253264 Pseudo Anonym
Pseudo Anonym's picture


Every slave in the UK carries a tube of KY around because...

serves you right!  you let hofjuden into your country and gave them safe heaven in the city of london corporation where they now safely print fiat sterling and  plot their joo nwo.  so stop complaining.

Mon, 02/18/2013 - 13:28 | 3253326 alex_g
alex_g's picture

"In the UK its $11.20 a gallon..."


No it's not.  The range is $7.60 to $9.60, depending on grade and location.


Unless you're talking about an imperial gallon, which is 5 quarts...not apples to apples


This link might also help

Mon, 02/18/2013 - 13:28 | 3253364 Midas
Midas's picture

I once ran into a british guy in Las Vegas and I asked him when was a good time to visit London.  He replied, "Never!"  I thought he was being an ass(arse) until I took a two week vacation there, then I realized he was trying to be helpful. 

I don't say this to mock or gloat, It depresses me British culture is gone for good and has been replaced by third-world free-loaders.  Meanwhile, the US of A is rapidly trying to catch up.

Mon, 02/18/2013 - 16:59 | 3254011 DaveyJones
DaveyJones's picture

Like the competitive bratty brother, we're always trying to outdo the Brits:  Bigger badder bankers, empires, & food and soon, teeth

We should stick to the things they do well, the three Ps - poets, playwrights, and porters

Mon, 02/18/2013 - 12:54 | 3253214 ziggy59
ziggy59's picture

Hmmm, for weeks before the O. -R. election, prices that the
Whole election is over, food and gas prices are resuming their climb..
But due to true economic voodoo magicians, there is no inflation...

But everything costs more

Mon, 02/18/2013 - 12:55 | 3253220 Super Broccoli
Super Broccoli's picture

5 dollars a gallon ? LOL i remember the gallon being under a dollar in 2000 !!!!

But you're not there yet america, a gallon is worth over $8 here in europe :-)

Mon, 02/18/2013 - 12:59 | 3253239 MrBoompi
MrBoompi's picture

In Europe the prices are high because they tax it and use the money for infrastructure and other much-needed things.


Whereas here the high price goes to Exxon, Shell, Goldman, hedge funds, etc. and mostly does nothing but harm the rest of American society.

Mon, 02/18/2013 - 13:22 | 3253338 nmewn
nmewn's picture

They tax the shit out of it here too...then they print money out of thin air to match it for "much needed things" like paying off political cronies in making biofuel algae, solar panels, windmills...their contractors also, who start ripping up perfectly good roads & bridges.

Then they throw a little at states for college professors and administrators while they build these huge buildings around DC as monuments to their brilliance and to house DHS, NSA and other assorted parasites of society.

They call it "shovel ready jobs stimulus" over here...what do they call it over there?

Mon, 02/18/2013 - 13:27 | 3253362 alangreedspank
alangreedspank's picture

Look up big oil corps' page on Google Finance. You'll see their profit margin isn't that big after all.

Mon, 02/18/2013 - 13:59 | 3253485 Rip van Wrinkle
Rip van Wrinkle's picture

"In Europe the prices are high because they tax it and use the money for infrastructure and other much-needed things."


Hahahahahahahahaha!!!! That's about as intelligent response to such an intelligent comment. Sorry, in the UK the roads have more potholes than tarmac. And that's just for starters.

Tue, 02/19/2013 - 03:07 | 3255386 Parrotile
Parrotile's picture

Not last year they hadn't - even minor roads "over there" are in pretty good repair, especially when you consider the weather, and the annual road salting extravaganza!

Now, if you REALLY want to see REALLY BAD roads (and really bad "just patch it up and run away") road maintenance, you'll have to visit Down Under. Our Aussie Freeways are in a far worse state than even minor UK roads - and our minor roads are neither sealed, nor are they flat - which is why those in the sticks almost NEED to own sturdy 4WDs - to cope with "the corrugations".

Perhaps if we could ditch the multi-level Federal / State / Local Government model, and plough the "billions of Aussie dollars salaries" thus saved into half decent, "start of the 20th Century standard" infrastructure, we'd finally be getting somewhere.

Not happening anytime soon though.

Mon, 02/18/2013 - 13:09 | 3253284 Yen Cross
Yen Cross's picture

Little Sprout, yer missing the theme. Europe is "Tiny Tim", when it comes to travel...

Mon, 02/18/2013 - 13:33 | 3253391 farmerjohn2112
farmerjohn2112's picture

In Europe, you can get a train from Galway to Dublin for about $25... can't really do that in the US, so we're pretty fucked.


Mon, 02/18/2013 - 12:56 | 3253226 MrBoompi
MrBoompi's picture

They're doing everything they possibly can to try and make it seem like this has anything to do with supply/demand, while the price rises even while we have fucking oil and gas coming out of our ears.

Mon, 02/18/2013 - 12:58 | 3253234 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

EROEI has dropped significantly because the gas coming out of your ears is getting more and more expensive to get out of the ground.

Mon, 02/18/2013 - 13:03 | 3253258 MrBoompi
MrBoompi's picture

So you better get your story straight then.  The cost is high because of higher costs of extraction, refinery shutdowns, refinery maintenance, or what?  Anything but actual supply and demand.  Which means its a great time to be a speculator because people like you point the finger everywhere else but the actual causes.

Mon, 02/18/2013 - 13:13 | 3253300 alangreedspank
alangreedspank's picture

The cost is high because of higher costs of extraction, refinery shutdowns, refinery maintenance, or what?  Anything but actual supply and demand

The things you listed have to do with "supply".

Mon, 02/18/2013 - 13:14 | 3253303 kridkrid
kridkrid's picture

The minutia of the price increase isn't important in the long term. EROI is.

Mon, 02/18/2013 - 13:24 | 3253350 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You better get your story straight, then.  Tar sands and fracking is not a cost effective way to produce oil.  To make oil from tar sands you not only need to dig out the world's largest fresh water aquifir (genius move there) but you need to use NG to seperate the tar from the sand. 

Deep water is also not a cost effective way to produce oil.  Why did the Deepwater Horizon explode?  Because we do not have the technology to drill that deep.  And even when the technology does procure more oil, any increase would only drain the reserves that much quicker.  It is like putting a bigger straw in your milkshake - "I drink your milkshake!"

Supply/demand plays a huge role for global supply/demand, but here in North America it is obvious - the EROEI is greatly affecting price.

Yes, inflation is increasing oil's price.  If Bernanke's hairbrained plans had never begun in the first place oil would likely be nearer $2/gallon. 

And as far as supply demand constraints, OPEC, the largest bloc of oil producers, use the demand ebb to control their supply.  They have been doing it flawlessly for years.

Tue, 02/19/2013 - 00:21 | 3255053 DaveyJones
DaveyJones's picture

well said 

Mon, 02/18/2013 - 13:39 | 3253413 AnAnonymous
AnAnonymous's picture

So you better get your story straight then. The cost is high because of higher costs of extraction, refinery shutdowns, refinery maintenance, or what? Anything but actual supply and demand.

And that is the talent of 'americans'. Not everyone on Earth is gifted with the ability of telling one thing and one opposite in the same breath.

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