Will Gasoline Prices Surge Overnight Due to Record Crude Oil Prices?

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Discussion Overview

The thread discusses the recent spike in crude oil prices and its anticipated impact on gasoline prices. Participants share their personal experiences with fuel prices, express concerns about affordability, and discuss potential actions regarding oil drilling and government responses.

Discussion Character

  • Anecdotal
  • Opinion-based
  • Debate/contested

Main Points Raised

  • One participant notes that crude oil prices have spiked over $140 per barrel, predicting a significant increase in gasoline prices overnight.
  • Another participant shares their experience of topping off their tank at $3.89 per gallon before the anticipated increase.
  • Several users mention their local gas prices, with some already exceeding $4 per gallon.
  • One participant expresses concern about the impact of rising gas prices on minimum wage workers and mentions local government measures to reduce commuting costs.
  • Another participant highlights the financial strain on families due to increased fuel costs, particularly for those commuting long distances.
  • Some participants discuss the idea of offshore drilling, expressing differing opinions on its necessity and safety.
  • One participant shares a personal anecdote about a family member's experience in the oil industry, discussing the challenges of U.S. oil production and refining capabilities.

Areas of Agreement / Disagreement

Views differ on the effectiveness of government actions regarding fuel prices and the necessity of offshore drilling. Some participants express agreement on the financial burden of rising gas prices, while others focus on the potential solutions.

Contextual Notes

The discussion reflects a range of personal experiences and concerns related to fuel prices, commuting, and the broader economic implications of oil price fluctuations.

Who May Find This Useful

Participants within the community who are interested in the economic impact of fuel prices and those looking to share personal experiences regarding gas costs may find this discussion relevant.

The_Kitchen_Guy
The_Kitchen_Guy
Silver Member
Messages
12,389
The price of crude oil spiked over $140 per barrel for oil today, an increase of more than 14%. It closed at $138.54 which is a new record.

This means there will be a huge jump in gasoline prices overnight, a jump of 20¢ to 25¢ would not surprise me at all.

Top off your tank today - you'll thank me tomorrow.

That is all.
 
Thank you for the heads up! I topped off yesterday (Thank you Lord for telling me to, even though I was at half a tank) and the price was $3.89/gal.
 
Thanks KG!! As usual, your information is helpful & appreciated. :)We're already over $4 here...thankfully it only goes up once a week...I topped off yesterday before the increase at midnight.
 
Thanks for the tip, KG. I need to fill 'er up today. It's 3.99 - 4.07 here.
 
Guess I will be filling up as well today
 
Feel free to spread more cheer KG :yuck: LOL Only wishing I had stock in a major gas company these days....
 
The_Kitchen_Guy said:
The price of crude oil spiked over $140 per barrel for oil today, an increase of more than 14%. It closed at $138.54 which is a new record.

This means there will be a huge jump in gasoline prices overnight, a jump of 20¢ to 25¢ would not surprise me at all.

Top off your tank today - you'll thank me tomorrow.

That is all.
Click to expand...
Did you know that China is drilling for oil to help with their oil needs 64 miles off the Florida Coast?
 
dannyzmom said:
Thanks for the tip, KG. I need to fill 'er up today. It's 3.99 - 4.07 here.
Click to expand...

Guess it would be out of the way for me to head down to Florida (from New York state!!) Gas here went from $4.15 yesterday to $4.12 today...but better fill up as KG recommends...it will be a up to $4.40 (and the high end places may be 5 cents or more beyond that).

From KG..."Top off your tank today - you'll thank me tomorrow." I'd thank the person that could stop this craziness more (maybe Tony Soprano could work on that!) We don't live in an area that has mass transit so driving is very necessary. I fear for so many of the elderly and those that can not make ends meet as it is. My parents are already worrying about the winter fuel bills and it is so sad.
 
That's a very real concern. It's going to get to a point where people with minimum wage jobs won't be able to afford the gas to get to and from work.The government offices of my county just started letting their employees work 4 10 hour days a week to save on gas.
 
It's already at 4.50 a gallon at the cheapest places here and my husband I commute 50 miles (round trip) a day. I don't know how long we will be able to handle this. :grumpy: :cry:
 
Can sum it up in two words, "It suc**"
 
It is $3.99 here better get it today! Thanks KG!

Oh and next week is race weekend here at MIS and you KNOW the gas prices are going to be even HIGHER around this area because of all of the race traffic.....grr....
 
  • Thread starter
  • #13
My blog entry from May 22 abouthttp://www.jrmanning.com/2008/05/22/80/ discusses the subject of profits in the United States. Do you believe that gasoline prices are fixed by 4 cigar-chomping friends of Dick Cheney in a smoke filled room in Dallas? Let me give you their identities: Easter Bunny, Tooth Fairy, Santa Clause and J.R. Ewing.
 
chefann said:
That's a very real concern. It's going to get to a point where people with minimum wage jobs won't be able to afford the gas to get to and from work.

The government offices of my county just started letting their employees work 4 10 hour days a week to save on gas.
Click to expand...

I work at a school. If they went to a 4 day school week, it would put sports at jeaopardy. (and many other after school activities!). Think of the gas it would save though for bussing!!

My son is trying to find work and if he has to drive too far, he will be losing money! I drive 42 miles a day just for my day job so it's almost $10 a day to work (but I have a good job with bennies)

Saw a great tee-shirt on Cafe Press (while buying my buttons from Ann S. for conference!!) "The only cheap gas I can find is when I eat a 99 cent burrito"
 
All I have to say is this is ridiculos. I saw on the TV that the Dow went down cause of the oil price increasing today.
 
  • Thread starter
  • #16
Kitchen Diva said:
Did you know that China is drilling for oil to help with their oil needs 64 miles off the Florida Coast?
Click to expand...
Sure - but WE can't.

http://www.lucianne.com/routine/images/05-30-08.bmp
 
While it may pose a risk to our coastline, I'd rather WE drill off the coast of FL than the Chinese!!!
 
I did fill up today for $3.66/gal it was $3.84 and went down over night so I thought I better take advantage of it. I'm glad that I did after reading KG's report.
 
ChefChris said:
I did fill up today for $3.66/gal it was $3.84 and went down over night so I thought I better take advantage of it. I'm glad that I did after reading KG's report.
Click to expand...


I'm moving there!! ;) Here we've hit $4.18 on base...if we had to buy off base it would be about $9.50 a gallon...one Euro, 59 cents a liter & roughly 3.8 ltrs to 1 gal...exchange rate is $1 buys 0.6355 Euro....Makes your head hurt, doesn't it?
 
Ugh....it's already $4.45 at the cheapest station here! Thanks for the head's up KG.
 
  • Thread starter
  • #21
kathijenkins said:
While it may pose a risk to our coastline, I'd rather WE drill off the coast of FL than the Chinese!!!
Click to expand...
We face far bigger risks in our country every day than those posed by offhshore drilling rigs.
 
The_Kitchen_Guy said:
We face far bigger risks in our country every day than those posed by offhshore drilling rigs.
Click to expand...


That's for sure. I fail to see why we shouldn't drill offshore...but we let another country do it?? What's wrong with that picture?
 
  • Thread starter
  • #23
Write to your Senator and congressman and tell him to start drilling.Of course, if your reps are as condescending and arrogant as our own Herb Kohl, you won't get far.
 
The_Kitchen_Guy said:
Write to your Senator and congressman and tell him to start drilling.

Of course, if your reps are as condescending and arrogant as our own Herb Kohl, you won't get far.
Click to expand...


Been there, done that, got the T-shirt. Cranky old fools didn't even bother to reply. Thought maybe once Jeb Bush was out of office, we'd stand a chance but Crist isn't much better.:grumpy:
 
I filled up yesterday for $3.69 - it was the same price this morning. Now I can drive about 15 miles & it gets OVER $3.80 - that is INSANE!! Thanks KG - I just called Larry & told him to go run & fill up @ the $3.69 before it goes up.
 
The_Kitchen_Guy said:
My blog entry from May 22 abouthttp://www.jrmanning.com/2008/05/22/80/ discusses the subject of profits in the United States.

Do you believe that gasoline prices are fixed by 4 cigar-chomping friends of Dick Cheney in a smoke filled room in Dallas? Let me give you their identities: Easter Bunny, Tooth Fairy, Santa Clause and J.R. Ewing.
Click to expand...

Good blog entry, KG. I also heard yesterday that they discovered an estimated couple billion barrels of oil under North Dakota and the oil needs very little refining, so it could be ready to go for our consumption very quickly... no word on whether or not they'll be willing to exterminate tumbleweed colonies in order drill there or not. :)
 
My SIL's sister just retired from Conaco. She is a ripe old 50 or 51 years old. She was a geologist and has so much money, she just buys what ever she wants. I do not begrudge her this because she is very smart and has lived in Norway, Houston, New Orleans and has been far away from her family for her adult life.

A few years ago, my brother asked her why we couldn't just use our own oil for our country. She said that the US doesn't have the refineries it needs and that it would be extremely expensive. (and this is when gas was between $1.00 and $2.00!!!) In addition, she said that it would take decades to get it up and running.

When watching the heads of the major oil companies speak on Capitol Hill, I was sickened. Their answer to their record profits was that most of that money was reinvested (how, into more stock, into finding alternative fuels, into lining their own pockets?) I know there are those that are going to get rich, I know that it costs money to look into alternative fuels, etc. but where does it stop.

Love the cartoon, KG, but I think it doesn't just stop at Congress. Our president asked Saudi to pump us more oil and they said no. The problem lies in the consumption and pumping more is not a solution.

Anyone who was old enough when Jimmy Carter was president remembers that you could only gas up on "odd and even" days. (If your license plate number ended with an odd number, you could only pump gas on an odd day of the month). Not sure if this helped, but there were steps made as you point out in your blog, KG, that we started to try to look into this years ago. Then it stopped. Here we are again.

If I rode my bike to work two things would happen. First, I would have a freakin heart attack and second, if I didn't have a heart attack, it would take me hours to get to work...and stink:eek: :cry:

We have many Amish in the area and I think they have the solution. My buggy will not be black but it will look more like a Woodstock work of art so it can be seen!!! Bet they would love that in the parking lot here at school!!:D
 
The_Kitchen_Guy said:
Write to your Senator and congressman and tell him to start drilling.

Of course, if your reps are as condescending and arrogant as our own Herb Kohl, you won't get far.
Click to expand...

Norm "RINO" Coleman is on the side of the not drilling crowd. I told him I was happy he brought Hockey back to MN but as far as the rest of his voting record he might as well just put a sock in it! The other two that we have are worse than he is- Ellis and Klobuchar (sp?) I like Michelle Bachman and she shares the same concerns that I have- I also met her personally. Her husband is a very interesting guy. I know I'd get a reply if I wrote to Michelle...
 
The_Kitchen_Guy said:
Sure - but WE can't.

http://www.lucianne.com/routine/images/05-30-08.bmp
Click to expand...

That's my whole point. Our foreign policy allows FOREIGN countries to drill off the coast of any US state and endanger all that the lobbiests are trying to protect but WE can't drill off our own coastlines. It's just stupid!


But then again, stupid is as stupid does!
 
kathijenkins said:
While it may pose a risk to our coastline, I'd rather WE drill off the coast of FL than the Chinese!!!
Click to expand...
I like you more and more each day crankycat! :)
 
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