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

Tyler Durden's picture

Presented with little comment except to remind all those newly refreshed consumers that for every penny rise in pump prices, more than $1bn is added to the hoousehold spending bill (assuming driving habits are unaffected - which brings its own set of unintended consequential events). And in the past month alone, gas prices have increased by precisely 30 cents.

For this week of the year, we have never seen higher prices of Gasoline...

 

and we note that gas prices are rising at almost the same analog rate as last year (and well above average) which offers little hope for the notably higher absolute levels which is all important for our pocket-books...

 

 

Charts: Bloomberg

(h/t John Lohman)

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Cognitive Dissonance's picture

Hang on boys and girls. The real fun is about the begin.

trav7777's picture

silverbug muppets wishin they had gasoline buried under the porch instead of junk dimes...Ag getting just BLOWTORCHED today

fuu's picture

How's platinum doing?

trav7777's picture

hmm...now that you mention it, the convergence pair trade is up half a percent today.  Thanks !

fuu's picture

Not bad for government work.

nope-1004's picture

I think this is what Trav actually meant to say:

This is part of the wave 3 completion in the metals.  Volume is too low though, so I'm not buying that it's over.  $31.90 is the Fib level battle now for silver.  If it holds, we could see upside from here.  I posted a few days ago that $33.14 was key, and it failed.  This confirms 2 things:  The correction is happening quickly and the upside potential is growing stronger.  When PM's start to take off, this will truly be an interesting time.  It may take a few weeks / months to get going, but be patient.  It is setting up to be a very worthwhile event....

trav7777's picture

nah, I didn't say that at all, dumbass.  Fuck that fibonacci shit and fractal bs and all the nonsense chartology.

I recommended long platinum/short gold as a pair trade.  Even today, that trade is positive.

TruthInSunshine's picture

I am honestly hoping gasoline goes to an average of $5 or $6 a gallon within a month or two and stays there.

Nothing would reveal the fractional reserve charlatan games better than seeing one of the few things the sheeple can feel (even if they don't understand it) turn them into non-discriminatory rabid sheople, hammering all incumbent politicians (most of whom enable The Bernank's pumping of commodity prices, whether they claim to be with him or against him in the kabuki theater of senate & house hearings).

CompassionateFascist's picture

$10/gal by election day. If there is one.

Dead Canary's picture

I pray every night that the BIG ONE happens before November. People need to be pissed off before they look for answers outside the status quo. (Read: Ron Paul) If one of the other muppets (get used to hearing this word a lot in the future) gets elected it will give them 4 long years to make things worse.

Ratscam's picture

i said the same thing when the platinum/gold discount was 180. It went to 203, then turned around. I excited the trade yestserday. no need to be greedy.
BTW. Brent Dez. 2013 is trading at 113 a barrell, another interesting deal to play with. Maybe natural gas at 2.25 a low you have to go way back to find.
do your own research.

trav7777's picture

eh...my former gf did that same shit for Banana a few years back, was even on the side of NYC buildings.

crrrrrraazy....

VulpisVulpis's picture

Are you sure it was your girlfriend? Are you sure it wasn't your father's brother's nephew's cousin's former roommate?

trav7777's picture

I am pretty positive it was my gf bc of how frequently i banged her.  Or maybe that was your mom, it's easy for me to get confused.

goldfreak's picture

for the new people around here, trolls like Trav are nothing new, he'll be around until the next move higher on gold and silver. Then a "new" troll will show up at a higher price  ZZZZZZZZZZZZZZZZZZZZZ

trav7777's picture

yer, um...how to put this delicately...pretty fuckin stupid if you think I'm a troll. 

JonNadler's picture

don't worry Trav, they think am a troll too, and everyone knows that's not true

lincolnsteffens's picture

Whoa matey, she may be nice but she looks 15. This ain't the wilds of Yemen.

SilverTree's picture

"BLOWTORCHED" is of the wrong mentality.

I would say its a "Super-super-super sale"!

JPM Hater001's picture

Whatever you want to get rid of let me know...I'm paying a buck over spot.

XenoFrog's picture

You know that word loses its meaning and impact when you trot it out every day there's red on the ticker. So much so that even using all caps doesn't help.

trav7777's picture

you know that you lose meaning and impact every time you open your mouth

CompassionateFascist's picture

Trav's still conerned with "making money". Shortsighted.

XenoFrog's picture

Speak softly and carry a positive balance.

mayhem_korner's picture

Ag getting just BLOWTORCHED today

 

Yeah, Trav - it's down to +20% YTD.  Best sign there is that the CBs are panicked is that they execute a coordinated smack-down on PMs.  Those are becoming more and more frequent and less and less sustained.

LongSoupLine's picture

"...Ag getting just BLOWTORCHED today" - trav7777

 

...Ag paper getting just BLOWTORCHED today...(fixed it)

pacu44's picture

IF only the CBs would wack the price of gas down to keep the zombies quiet, why do they worry about goldbugs and silverbugs?

trembo slice's picture

volatility is part of the game Trav.  It can't go up EVERYDAY, and its still up YTD.  Plus its the best performing asset of the last 10 years.

Why do you hate silver so much?  Didn't buy any when it was at $7 or something?  You do make some good points in other post, but you are just so abyssmally wrong when it comes to silver, its hard to take you seriously.

trav7777's picture

sigh...ok, it's clear that you people are too stupid to get this, so let me explain.

You have emotionally identified with your silver.  I don't hate SILVER, I hate YOU.  Are we clear now?  You and your silver are not one and the same, ok?  Stop getting attached to your fkin possessions.

I hate silverbugz because you are a herd of lemming muppets listening to idiots and con artists.

JonNadler's picture

I think Trav is right, take it fro me I have a lot of credibility

geminiRX's picture

Figured you for another lemming too if you consider zerohedge authors a bunch of idiots and con-artists. What are you doing wasting your time here?

mayhem_korner's picture

 

 

He's not wasting his time...he's wasting yours.

Unmisinformed's picture

I just can't help myself!

 

[Loud Retard Voice On]

SILVERBUGS GOT BLOWTORCHED!!!!!!11!!

[Loud Retard Voice Off]

 

Thanks, Trav, for brightening up an otherwise shitty day!

 

Now, off to the coin store.

ilovefreedom's picture

Only bad if you have to liquidate your physical position to free up capital.

By this same logic we should use our entire federal budget for a time machine, go back to 1900 and get some of those dollars since they were worth 95% more than today's.

VanceEva1's picture

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SRSrocco's picture

THINK GASOLINE PRICES ARE HIGH....HOW ABOUT DIESEL??

The Mining Industry runs on DIESEL not gas.  Refineries can only produce so much diesel per barrel of oil.  Technology can increase this percentage somewhat, but in a PEAK OIL SCENARIO, only so much diesel will be produced.  Things get very DICEY in the next several years.  Big Financial Firms are forecasting higher global metal production far into the next decade.  Silly analysts...

If the price of Diesel goes up and shortages start showing up on the scene, GLOBAL METAL PRODUCTION will decline and that will be the end of it.  No financial forecasts have any idea how to price metals in this environment.  GOD...this is going to be fun

The DAYS FOR PAPER are coming to an end.  Place your bets wisely....

LASTLY.....

WEST TEXAS CRUDE -$1.24 = $105.47

BRENT CRUDE = -$0.22 = $126.10

The price Americans pay for oil is BRENT CRUDE.  West Texas Crude is an anomaly for a few central states.  As we can see the price of Brent has not fallen much today, whereas the worthless WTIC shows how well manipulation works in the good ole US of A.

OutLookingIn's picture

Take a look at the UCLA Ceridian Index out this morning;

Real time diesel usage by the transport sector down 3.2% YoY with no improvement shown since June 2010!

SRSrocco's picture

OutLookingIn... This is correct.  As the USA declines in domestic diesel consumption, the U.S. refineries export diesel to Mexico, South America and Europe.  Mexico will become a NET IMPORTER of oil well before 2020.  According to the IEA -International Energy Agency for Mexico:

MEXICO OIL INFO (mbd = million barrels a day):

2011 DEC Production = 2.93 mbd
2011 DEC Total Demand = 2.24 mbd
2011 DEC Net Oil Exports = 0.69 mbd

Then we have an estimation for 2012:

2012 Estimated Dec Production = 2.84 mbd
2012 Estimated Dec Demand = 2.30 mbd
2012 Estimated Dec Net Oil Exports = 0.54 mbd

This is the LAND EXPORT MODEL (developed by Jeffrey Brown) at its finest.  We have depletion and increased consumption as a DOUBLE WHAMMY.  This is taking place all over the world.

We must not forget, Mexico was an NET EXPOTER of OIL of about 1.80 mbd in 2003.  The more Gold and Silver mines that come online in Mexico, the more diesel consumption will be needed.  I would forecast Mexico will be a net importer of oil by 2016-2017.

FlyoverCountrySchmuck's picture

You know what the best part of all of this is, even if it hurts?

According to Monday's CBS/NYTimes Poll, a MAJORITY of Americans believe the President directly controls the price of gas.

The Democrats and the media spent YEARS, and a hundred million dollars in advertising (Free media and other) pimping this to the sheeple, who swallowed it. Now it's biting them in the ass.

NBC Evening News/MSNBC did 37 live gas price reports from the station two blocks away from the White House to illustrate just how high gas prices were in 2008. It was $5.69 for Reg at this station on Monday. I wonder why NBC/MSBC aren't doing live reports from this station now? Anyone know why??

ANYONE????

trav7777's picture

bc jews are infatuated with blacks?

catacl1sm's picture

Everyone wants a dog to smack around.

FlyoverCountrySchmuck's picture

(-1)... Someone doesn't like inconvenient truth.

It was not me's picture

Sell frickin crude oil call options short, this bastard will soon drop to teens as Armada Markets has forecast.

sun tzu's picture

funny...they start plugging up the wells when it goes below $50

DCFusor's picture

Got Volt - and 10kw worth of solar panels.  Ha.