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

Tyler Durden's picture





 

It seems not a day goes by when the mainstream media (or your local friendly asset gatherer) proclaims the drop in gas prices from a Middle-East-turmoiling Summer as "great news" and very positive and an implicit tax cut... as they try to juice hopes and dreams of a better-than-expected holiday spending season. The sad truth - something unusual in this new normal - is that regular gas prices (at $3.258) have never been higher on Christmas Eve. It seems context does matter...

 

Yesterday, we inched out 2012's $3.247 and moved to $3.258 per gallon...

 

This is the first time since March that gas prices have been at seasonally-comparable record highs.

 

Source: Bloomberg

 


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Tue, 12/24/2013 - 13:39 | Link to Comment Surging Chaos
Surging Chaos's picture

That's what 100 years of the Fed will do to you.

Tue, 12/24/2013 - 13:44 | Link to Comment PR Guy
PR Guy's picture

 

 Getting gas to this level was a big project.

This is what happens 'When Big Projects Go Bad' ;-)

 

http://www.youtube.com/watch?v=X34ad1eJ2Bk

Tue, 12/24/2013 - 13:49 | Link to Comment slotmouth
slotmouth's picture

I don't know what y'all are talking about gas priced in TWTR has never been cheaper.

Tue, 12/24/2013 - 17:08 | Link to Comment Pegasus Muse
Pegasus Muse's picture

Regular unleaded = $2.81/gal today, in my area.  It's been steadily declining for 3 or 4 weeks now. 

Tue, 12/24/2013 - 15:45 | Link to Comment Flakmeister
Flakmeister's picture

No, nothing to do with the Fed...

It is what you are left with when you rely and fracking source rocks for your hydrocarbon fix...

Tue, 12/24/2013 - 13:42 | Link to Comment FieldingMellish
FieldingMellish's picture

Frakin' t'aint cheap.

Tue, 12/24/2013 - 13:42 | Link to Comment djsmps
djsmps's picture

Where do you buy your gas at? Where I'm at, it's nowhere near the high.

Tue, 12/24/2013 - 13:51 | Link to Comment Rockfish
Rockfish's picture

Gas will be on sale after the 6th of January. 

Happy New Year.  

O and Tyler could you cram just a few more adds, I especially love the pop ups.  

Merry Christmas

Tue, 12/24/2013 - 13:45 | Link to Comment Yen Cross
Yen Cross's picture

      I would also like to add this little gem.

     Christmas Lights? Electricity Price Index at All-Time High in U.S. | CNS News

Tue, 12/24/2013 - 13:48 | Link to Comment GoatHerder
GoatHerder's picture

Solar Chritsmas lights suck.

Tue, 12/24/2013 - 13:49 | Link to Comment Max Damage
Max Damage's picture

Nor has Twatter!!!

Tue, 12/24/2013 - 13:48 | Link to Comment tony bonn
tony bonn's picture

the nazis will return with a new lie about the wonderment of nazi life in the usa.

Tue, 12/24/2013 - 13:49 | Link to Comment Major Major Major
Major Major Major's picture

I buy ethanol free gas.  Costs me about $4.20 a gallon.

Tue, 12/24/2013 - 13:55 | Link to Comment JustObserving
JustObserving's picture

Everyone knows by now that gas prices do not cause inflation.  Only gold and silver do.  

And higher stock and housing prices only cause deflation.  Welcome  to the Nirvana Economy brought to you by the Fed.

Now run along and tweet this good news.  TWTR must be $80 by January 1.

Tue, 12/24/2013 - 13:57 | Link to Comment Ban KKiller
Ban KKiller's picture

No inflation. OK, then. 

Stock up on Molotov cocktails!

Tue, 12/24/2013 - 14:06 | Link to Comment Peter Pan
Peter Pan's picture

And all this at a time of fewer kilometres and more fuel efficient cars.

Let's pray the recovery doesn't come too soon.

Tue, 12/24/2013 - 14:07 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Highest at this time of year, perhaps, but what about inflation adjusted prices during the various "oil crisis"?  For instance, in late 1980, oil prices were at around $100/barrel in 2008 dollars:

http://upload.wikimedia.org/wikipedia/commons/8/87/Oil_Prices_1861_2007.svg

Tue, 12/24/2013 - 15:44 | Link to Comment Flakmeister
Flakmeister's picture

Big difference when the price is high because the 4th largest oil exporter was in a state of revolution and what is going on now...

Unlike then, there ain't no Prudhoe Bay or North Sea to ramp up.... 

Tue, 12/24/2013 - 14:12 | Link to Comment insanelysane
insanelysane's picture

Remember the good old days when the MSM would have a weekly article about GWB and Big Oil???

Tue, 12/24/2013 - 15:56 | Link to Comment Emergency Ward
Emergency Ward's picture

I picture that murderous moron with the idiotic grin saying, "Miss me yet?"  It's a close call. I still say Wubya was worse than Obama because Wubya gave us Obama.

Tue, 12/24/2013 - 15:46 | Link to Comment Unstable Condition
Unstable Condition's picture

$3.35 here, this time last week ... $2.99.

Tue, 12/24/2013 - 15:57 | Link to Comment Loucleve
Loucleve's picture

This might be the national average, but in Cleveland it is $3.39.

And they just jacked it 10 cents yesterday in time for the Holiday Drive.

Tue, 12/24/2013 - 16:44 | Link to Comment 22winmag
22winmag's picture

Peak cheap gas!

Tue, 12/24/2013 - 17:30 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

So I read things like this:

http://arstechnica.com/science/2013/12/algae-go-in-biocrude-oil-comes-out/

Where they build something that is possibly scalable with real-world applications, and seems to have other benefits as well, as some of the outputs can be used for fertilizer, etc...

And not much press attention, if at all. Is the gameplan to wait until gas is $7 bucks before switching over to the "cheaper" version, but maintaining an inflated profit margin doing so?

Just condition your customers on old energy regime, then switch to a new one (that costs less than exploring and digging holes) while inflating your profit margins. Its so psychopathic, it almost makes sense from a energy company perspective.

Tue, 12/24/2013 - 18:08 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Buddy, you have to learn that physics controls this matter.  Not conspiracies.

A barrel of crude contains 5.6 million BTUs.  That energy got into the barrel somehow.  You figure out how they got it into the algae and trace IT down.  Not dollars.  Joules. 

When you do, you'll learn that your link is bogus.  It takes a certain amount of time and acreage to gather sunshine equal to a barrel of oil, and that process can't possibly do 18 million barrels every single day unless every square inch of surface area of various US states are covered.

So no.  It will Never, the N word, scale.

Tue, 12/24/2013 - 21:13 | Link to Comment DaveyJones
DaveyJones's picture

"That energy got into the barrel somehow"

I like it

and weird cause all that energy we put into our wars never made it in the new barrels

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