Harmony Central Forums
Announcement Announcement Module
Collapse
No announcement yet.

32 days of higher gas prices comes at tough time. $5 a gallon gas hits California.

Page Title Module
Move Remove Collapse









X
Conversation Detail Module
Collapse
  • Time
  • Show
Clear All
new posts

  • 32 days of higher gas prices comes at tough time. $5 a gallon gas hits California.

    That means that the average price for a gallon of regular unleaded gasoline has increased more than 13% over that period to $3.73.

     

    It's hitting wallets right in the middle of winter, when people are already looking at large home heating bills. And it comes just after many Americans have been hit with smaller paychecks, and are worried about looming budget cuts that could deliver an even deeper blow.

    What's behind the higher prices at the pump? It's a confluence of factors, from rising crude oil prices, to production cuts and refinery closings.

    "Right now, things are tight worldwide," said Ray Carbone, president of New York commodities trading firm Paramount Options. "Refineries going down, unanticipated maintenance, and higher demand ... going into driving season."

    Two-thirds of the cost of one gallon of gas comes from the price of crude, which has jumped 10% in the last two months, according to the Energy Information Administration. As the U.S. housing market experiences a resurgence, the jobs picture brightens and consumer spending expands, anticipation of higher oil demand is driving up prices. At the same time, fears have ebbed that there would be a protracted slowdown in China's economy, which would have dampened global demand for oil.

    OPEC, the powerful cartel of petroleum exporting countries, is also believed to have cut production by about 1 million barrels a day in the last few months, partly in response to rising oil production elsewhere, notably the United States.

    Adding to that, several refineries are either preparing to, or have already, shut down for maintenance before their annual switch to summer gasoline, which is formulated differently.

    For the average American, all this couldn't be happening at a worse time.

     

    http://money.cnn.com/2013/02/17/news/economy/gas-prices/index.html?hpt=hp_t2

     

    This is really starting to piss me off.

    _________________________________________

    “True unalienable rights do not require one to trample other unalienable rights.”
    ―J.S.B. Morse

  • #2

    so the trick is to be an above average american, or live on the bus line. 

    Comment


    • Daryl Flynn
      Daryl Flynn commented
      Editing a comment

      hope and change


  • #3

    quickie1 wrote: 

    This is really starting to piss me off.


     

    Looks like granny's got her knickers in a twist again. 

     

    Comment


    • #4
      mooger wrote:

      " so the trick is to be an above average american, or live on the bus line. "

      No "or" for me.

      I haven't filled up the tank in 2 months. My SUV only gets used on gig nights.

      Comment


      • #5

        quickie1 wrote:
        32 days of higher gas prices comes at tough time.

        If you could find an article stating it's the perfect time for higher gas prices, that would be news. 

        Comment


        • #6
          Many of the left wingnut persuasion believe we need higher fossil fuel prices to drive the move to greener fuels.

          Obama would be one of them.

          Be sure to thank your "daddy" next time you fill up.

          Comment



          Working...
          X