Gasoline Price Up, Diesel Hits Record

[RedEarth]

WASHINGTON (Reuters) - Rising crude oil costs are taking a toll on U.S. consumers, as the national price for gasoline jumped 5.1 cents a gallon over the last week and diesel fuel hit a record high, the government said on Monday.

The price at the pump for regular unleaded gasoline averaged $1.917 a gallon, the highest since mid-July and up 33 cents from a year ago, according to the U.S. Energy Information Administration's weekly survey of service stations.


The EIA survey said the average price for diesel fuel skyrocketed 10 cents to a record $2.012 a gallon, up 58 cents from a year earlier.


Gasoline and diesel fuel prices are rising because of higher crude costs, which reflect traders' concerns about violence in oil-rich Nigeria and disruptions of U.S. petroleum supplies caused by Hurricane Ivan.


U.S. crude oil futures traded on the New York Mercantile Exchange jumped to a record $50 a barrel in after-hours trading on Monday. Crude oil accounts for roughly half of the cost of a gallon of gasoline sold at the pump.

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=3&u=/nm/20040927/bs_nm/energy_gasoline_price_dc

[UpInArms]

1. that's going to leave a welt

When will the truckers strike against *Co's policies that destroy their ability to have their own businesses?

[aneerkoinos]

14. Honestly

How is Peak Oil the fault of only BushCo's policies? Shouldn't the blame for this situation spread, ehm, a bit more widely?

[Radius]

2. Higher Diesel

Will lead to higher cost of goods.

[w4rma]

3. Where are the headlines proclaiming: "Could higher gas prices hurt Bush's

chances". And "Could lower salaries and wages hurt the GOP's chances". And "Could the highest unemployment since the Great Depression hurt the GOP's chances". And "Could the largest deficit in the history of America hurt the GOP's chances". And "Could the high state taxes brought about by tax cuts for the ultra-wealthy hurt the GOP's chances".And "Could the security failure of 9.11 under Bush's watch hurt the GOP's chances". And "Could the Enron (and many other big energy corporations) and Haliburton defrauding scandals hurt the GOP's chances". And "Could Bush's lies about how the war in Iraq is going hurt the GOP's chances". And "Could Bush's lies to con America into war within Iraq hurt the GOP's chances". And "Could the vengful outing of a CIA agent by a top White House official, thereby further harming our nation's security hurt the GOP's chances".

[dweller]

4. this was reported earlier on the noon news

as problems in Mexico causing it?

dp

[Bluzmann57]

5. Heard earlier it was because of the Hurricanes

One of them hit the Gulf Coast and wiped out some pipelines. Whether its true or not remains to be seen.

[tinanator]

16. surely the truth of the matter will out

clinton's cock did it.

[paulpaul]

6. Try Europe. Americans are spoiled

Try to buy gas in Europe. Americans pay hardly anytyhing for gas.

[Radius]

7. Massive changes are bad in any economic system, inflationary

Hookers are cheaper in Europe, but it is all relative to what you are used to paying..

[aneerkoinos]

13. So...

You are expert in hooker prices both in US and Europe?

[Radius]

18. regretfully, no

I have friends who trade in that commodity though. Not my cup of tea..

My point is large change in a system is more disruptive than a high price. So unless the euros are experiencing big percentage change as well the comparison is unsound.

[sleipnir]

8. Europe's prices are a result of taxes, not supply-demand.

If Europeans don't like paying high prices, they should lobby their respective governments for change.

This issue of price is because of supply-demand and it's getting way out of control. Speculation is driving most investors to panic and it doesn't help that BushCo is doing nothing to solve our energy problems.

[aneerkoinos]

12. Yes

And Americans are stupid not to tax as hard as Europe - the subsidized cheap energy in US is hurting the whole Earth. Taxes are great incentive for energy conservation and better efficiensy, plus they bring some stability to consumer prices as the world market price fluctuations have diminished effect on the end price. (taxes are in cents/litre, not per cents)

[tom_paine]

9. The Bushevik Oil Stooges forgot to steal enough when they falsely

inflated the $2/gallon back when oil first rose to $38 again.

They should have gone $2.50 if they wanted to suppress the eventual rise for longer.

Guess they weren't counting on actual oil bbls rising to $50.

[Dover]

10. Time to break out the biodiesel.

Maybe we should start saving our bacon drippings.

[Radius]

11. I run it now, legal b20

good stuff. If you are bold you can buy #2 for heating oil and mix in bio oil..

Don't get caught with red diesel in your tank.

[falcon]

15. and still they vote for shit head.

I want to scream

[lovuian]

17. I keep hearing Destabilizing conditions

could it be the Iran Nuke situation heating up

[cliss]

19. Does anybody besides me feel that

EVERYTHING is falling apart right about now? Or is it just me? I could list a bunch of stuff, but you get the picture.

Now on top of everything else, Mt. St. Helens is about to blow, right in my back yard (not really, but close enough).

What else can go wrong?

[Radius]

20. Speculating Enronesque Bullshit, IMHO(nt)