Anybody want to guess where gas prices end up.....

[daves87rs]

Well, 4 dollar gas is here.

Funny part about that is I've seen prices range from 3.85 to 4.45 here. Just wow...

With so many reasons to raise oil prices this summer, anybody want to guess the price at the of the summer?

Winner gets bragging rights....

Should be an interesting summer....

[Robert Hall]

About 3.75-3.80 here in Phoenix...I'm guessing the high here will reach $5.55 by Labour Day.

[vonVeezelsnider]

4.75/Gal for regular up here.

[Blake Noble]

Fueled up for $3.92 today at a local Marathon station. I am quite tired with the cost of gasoline. I believe I will try to find an elderly BMW with a diesel engine and a manual transmission, if at all possible.

Let's see, hmm ... I want to guess the cost may well be flirting with about $4.75 or so by the end of the summer, going at the rate we are going now. I will not rule out that prices may experience something of a downward trend this autumn, though.

[z28luvr01]

I'll be in the minority and predict a collapse like in the housing markets. Not sure if it'll be sooner rather than later, though.

$4 even when I filled up this past Saturday. I guess I'm thankful that I can pull 28mpg in city driving, but it still seems wrong that a 145hp 4cyl 2800lb car that gets 28mpg city requires $50 to fill up. I will be using the bike as much as possible this summer, for errands and for training.

[Blake Noble]

I guess I'm thankful that I can pull 28mpg in city driving, but it still seems wrong that a 145hp 4cyl 2800lb car that gets 28mpg city requires $50 to fill up.

I know what you mean. It takes almost seventy dollars to get a full tank of gas in my Sonoma, and it is capable of around 22 mpg in city conditions.

[XP715]

$4.50ish for regular, $4.75ish for mid-grade, $5.00ish for premium. Diesel at six and a quarter.

[caddycruiser]

Higher. Who knows how high, but that's reality. Oh well.

[Justin Bimmer]

Diesel is already 5.25 at chevron stations in california

[Lamar]

I'm gonna be optimistic and say $3.35.

... Anyone?

....... Anyone?

Edited May 23, 2008 by Lamar

[FUTURE_OF_GM]

I'm gonna be optimistic and say $3.35.

... Anyone?

....... Anyone?

I'll second that...

I'll bet about $3.50ish since Memorial Day is traditionally the high point of the summer. A few experts are predicting a downward trend.

Of course, it'd be $3.50 anyway if someone would shut Wall Street the hell down.

Simple economics dictates that gas WILL eventually come down. The question is; how long until it does and how much more will it climb? What goes up must come down. Once it starts severely affecting our economy, the price will drop.

[loki]

I'm so glad i filled up tuesday @ 3.55. predictions.. hm... if foreign policy changes none, i'd guess another .75 higher (national average)what is it now?... 3.90? so.. ~4.60? if anything changes for the better, prices may slide about .20 so 3.70.

I so hope the gas tax holiday doesn't go through. that would push it even higher.

I'm making an outline for an inflation speech, if anyone cares to look at it, i'll have it message-able tomorrow evening. (for school, might not have done before that, then work after. so little time it seems.)

[vonVeezelsnider]

~4.60

I should hope not... because that means it'll be like 5.15/gal up here!

[balthazar]

I believe 87 is right around $3.63 today (I don't look at gas prices anymore)- paid $4.55 for diesel on the Turnpike tonight. See, Jersey IS good for something...

[Delta Force79]

87 Octane is already around $4.30 a gallon here in some areas, I say at it's peek we're looking at $5.00 even for 87. Which means $100 fill up for the Riv, if I run it to empty.

[Lamar]

I believe 87 is right around $3.63 today (I don't look at gas prices anymore)- paid $4.55 for diesel on the Turnpike tonight. See, Jersey IS good for something...

That's weird, considering the stations all have to pay people to pump the gas for them...

... but in light of how our gas is 20 cents more, I'd gladly take that trade-off.

[pow]

I believe 87 is right around $3.63 today (I don't look at gas prices anymore)- paid $4.55 for diesel on the Turnpike tonight. See, Jersey IS good for something...

Yes, but in exchange, you get so many darn toll roads...

[balthazar]

Meh- there's only 3 (TNPK, PKWY, A/C XWY)- I use 1 of them maybe twice/yr and I'm 10 minutes from the TNPK. Not a big deal unless you HAVE to use one to commute.

[daves87rs]

I'm going to say around five bucks...

Meh-I don't think prices are going down. It's funny beacuse every month these last few moths gas consumption has gone down, while prices keep going up. So much for supply and demand.

Between the drive offs and nobody ever coming inside, it looks like my local gas station is going to close soon....

[Drew Dowdell]

I think it really depends on this weekend's driving statistics. If a LOT less people drive long distance for the holiday, it may spook the market down a bit. If driving statistics stay flat or increase, watch for prices to shoot even higher.

I'm staying home and working in the yard all weekend.

[Camino LS6]

$100 = 3/4 tank of diesel in the Silverado.

Life sucks

[CSpec]

First of all, gas prices are blown way out of proportion for some reason. If prices increase 25%, that's a couple hundred bucks a YEAR. Other expenses are much more relevant to get all worked up about. Politicians obsess over it just to get votes; it's not the most important economic issue by any means.

Anyway, I'm trying to decide whether or not to jump into this shorting ETF that's twice the inverse of a change in oil prices, but maybe it's best to hold off on that.

[ocnblu]

$90.75 to fill up the Sierra from empty this evening. Sheer criminality.

[loki]

well if the stock of our government (dollar) wasn't in the crapper, it would have never been this bad... remember the good days when the budget was balanced back in 2000 and gas was $.99. yes, they have a direct correlation.

[mustang84]

It was $3.74 for 87 when I filled up in Iowa City a couple days ago and $4.09 when I filled up in Dixon, IL. I didn't check to see what Chicago prices are but I'm sure they are even higher.

Either way, I think oil prices are in for some serious adjustment soon...I don't think we will see $5/gal this summer. Last summer they said we'd hit $4/gal and it never happened (here), and the summer before it was $3/gal. But I think we might see $5/gal next summer if the economy doesn't improve.

[ZL-1]

I pay some $8/gallon here in Portugal, so I still envy you guys for paying just $4/gallon :AH-HA_wink:

Edited May 24, 2008 by ZL-1

[daves87rs]

It was $3.74 for 87 when I filled up in Iowa City a couple days ago and $4.09 when I filled up in Dixon, IL. I didn't check to see what Chicago prices are but I'm sure they are even higher.

Either way, I think oil prices are in for some serious adjustment soon...I don't think we will see $5/gal this summer. Last summer they said we'd hit $4/gal and it never happened (here), and the summer before it was $3/gal. But I think we might see $5/gal next summer if the economy doesn't improve.

I don't think so...I really see them going up to crazy prices....

-Wall street secretly loves this...some people are making good money off this..

-the lawsuit of OPEC should only piss them...you should have heard what they said after learning that it might happen...

- The oil companies are getting their TAX BREAKS even after these record profits....think they plan to give this gravy train any time soon. And an army of lawyers standing by? Even if they wanted to fight the oil companies, it might take years..

Gotta love the legal system....

[daves87rs]

I think it really depends on this weekend's driving statistics. If a LOT less people drive long distance for the holiday, it may spook the market down a bit. If driving statistics stay flat or increase, watch for prices to shoot even higher.

I'm staying home and working in the yard all weekend.

I wish i could say you might be right-but even if that happens-they will blame Iran or someone and the prices will keep going up...and as long as people believe.....

I just farted-I'm guessing prices should go up tomorrow...

[CaddyXLR-V]

First of all, gas prices are blown way out of proportion for some reason. If prices increase 25%, that's a couple hundred bucks a YEAR. Other expenses are much more relevant to get all worked up about. Politicians obsess over it just to get votes; it's not the most important economic issue by any means.

Anyway, I'm trying to decide whether or not to jump into this shorting ETF that's twice the inverse of a change in oil prices, but maybe it's best to hold off on that.

A 25% increase in gas prices will cost me $120 more per month....

[daves87rs]

A 25% increase in gas prices will cost me $120 more per month....

Ouch!

[Satty]

$53(@3.59) to fill up the Fusion on Friday, and another $59(@3.64) to fill it back up today. That trip to St. Louis was quite the gas killer. Here is the kicker, we couldn't take the Prius because my son and I, "will make a huge mess in my new car, you guys cant get into a car without spilling something."

Edited May 26, 2008 by Satty

[Intrepidation]

I can still get away with putting $10 in the Prizm, as it still gets me about 1/3 tank from E but in the Intrepid it's depressing how little the needle moves.

[vonVeezelsnider]

$53(@3.59) to fill up the Fusion on Friday, and another $59(@3.64) to fill it back up today. That trip to St. Louis was quite the gas killer. Here is the kicker, we couldn't take the Prius because my son and I, "will make a huge mess in my new car, you guys cant get into a car without spilling something."

I've been on the giving end of that dialog a couple times...

[ocnblu]

Good Lord, doesn't anyone make full body condoms for golf carts? :AH-HA_wink:

I have seen an '06 Prius pigsty. It has some sort of damage on every exterior panel. The back seat is folded down, and the whole load area is stacked with unimaginable crap up to the beltline. There is a small, semi-clear area to sit to drive it, but the floor underfoot is about an inch deep with crumbs, dirt, spilled stuff, feathers, etc., and the driver's seat, which used to be tan, is stained with something I don't even want to guess. But according to the mileage display, it still gets 42 mpg. Oh boy.

Edited May 26, 2008 by ocnblu

[Satty]

Yeah, my argument of, "Isn't that why I paid for leather?" didn't work, since I got a reply of, "No, we paid for leather because the only black one available within 300 miles had leather." At that point, I realized that I was indeed Sisyphus.

Anyways, Gas is $3.69 everywhere now, at this rate (a nickel a day increase) gas will be $4.04/gallon on June 1st.

[daves87rs]

Well, that means it will be like 4.50 in a few weeks then..

[BigPontiac]

Gas prices for 87 are already over $4 here. Current range in my area is $4.09 - 4.17. Diesel is about $4.89/gal.

When I filled my truck up with 87 this week the pump reached $75 and stopped. I had to re-swipe my credit card to keep going!

[loki]

http://www.gasbuddy.com/gb_gastemperaturemap.aspx

2nd cheapest color for my county. yes!... it pretty much always is, or the cheapest.

http://www.gasbuddy.com/gb_gastemperaturem...;ft=A&tl=48

Edited May 26, 2008 by loki

[Lamar]

$53(@3.59) to fill up the Fusion on Friday, and another $59(@3.64) to fill it back up today. That trip to St. Louis was quite the gas killer. Here is the kicker, we couldn't take the Prius because my son and I, "will make a huge mess in my new car, you guys cant get into a car without spilling something."

Women...

Hey, it's weird though... I just put $20 into the Pathfinder yesterday at a Shell station that was 3.99 (for 89). Every other place I saw, including the other Shell a half mile down the road, had 89 going for 10-15 cents more.

Anyone else seen such anomalies at the big gas stations?

Edited May 26, 2008 by Lamar

[daves87rs]

Women...

Hey, it's weird though... I just put $20 into the Pathfinder yesterday at a Shell station that was 3.99 (for 89). Every other place I saw, including the other Shell a half mile down the road, had 89 going for 10-15 cents more.

Anyone else seen such anomalies at the big gas stations?

Yes.

I've seen iy as much as 20 cents difference within 5 mile area....

[Justin Bimmer]

I just got done reading Jim Webb's (Senator VA) book and he hit the nail on the head. Right now, wall street stocks are mostly owned by like 2% of the population and they are only taxed 15% on the money they make. It is time to bump that up to 50% or more because there is NOTHING good that comes out of stocks except for growth of personal wealth. Just think, if you are in the top tax bracket, you can invest massive amounts of money into stock and only have to pay 15% taxes instead of 40% plus.

[Robert Hall]

I paid $4.13/gal for 85 in Denver today, though I saw $3.89 at some stations...

[Paolino]

$4.19 for regular. Oy. I'm guessing we'll level off around $4.50 by the end of the summer. I have nothing to base that on except just picking a random number out of my ass. I'm hoping we stay away from $5.00.

[balthazar]

>>"Right now, wall street stocks are mostly owned by like 2% of the population..."<<

Figures from 2002 were that 49% of U.S. households owned individual stocks or stock mutual funds, up over 1% from 3 yrs earlier. Population may not be a clear indicator here, but either way: it's far greater than merely 2%. 2% of 300M is only 6M people invested.

>>"...and they are only taxed 15% on the money they make. It is time to bump that up to 50% or more because there is NOTHING good that comes out of stocks except for growth of personal wealth."<<

Long-term capital gains federal rate right now is 15% (for those over the 15% bracket), tho the short-term CG rate ranges up to 35%. The U.S. already has among the world's highest CG tax rates.

Indivdual wealth (which of course enables private consumption) plays by far the largest role in driving the economy forward (68% of GDP in '97). Reducing individual wealth, esp when that money goes toward enlarging an already bloated & grossly inefficient/inept government- is a receipe for serious economic downturn on top of whatever the present situation is, via reduced private consumption.

Further taxation of individual wealth will inevitably slow the growth of the U.S. economy, and we all know what that feels like right about now. We'll know it more acutely come 01/01/11 when the rates revert to 28%.

Medicare/Medicaid fraud is running right around $110B/yr - let the federal gov look to itself for more money- not the individual.

California's Tax-Freedom Day is April 30th (7th highest in the U.S.). In other words, you work for 4 straight months ONLY to pay taxes, after that, your income can be used for you & your family.

Apparently you don't feel you're doing your part; perhaps you'd like to move to Jersey where you can work an additional week to support the government (NJ rank: #2).

[loki]

Medicare/Medicaid fraud is running right around $110B/yr - let the federal gov look to itself for more money- not the individual.

there was an interesting economist on last night (book TV) talking about the welfare principal.... It's outrageous that we're going to be paying bill gates social security when he retires!

[zhawk]

When I planned my fuel costs for the drive from Yelm to Reno, I calculated it at $5.00 a gallon.

Hopefully, I don't have to recalculate it.

[Camino LS6]

$5.20 a gallon for diesel now...

[Lamar]

BUMP!

OK, in light of our predictions and the end of summer being near, who was closest to being right?

I remember saying $3.35, and we're dipping into the high $3.40s around my area nowadays.

If you made a prediction in this thread, how far off was it?

[FUTURE_OF_GM]

I predicted $3.50 and we're still a bit above that (in the $3.60 range)

[Robert Hall]

I predicted $5.55 by Labor Day, so I was a bit off..

Edited August 22, 2008 by moltar