$2.19, $2.13, $2.08, Today $2.05 a gallon!

[UdoKier]

Here in SF, which has about the highest gas prices outside Hawaii, I've noticed the prices plummeting as the price per barrel of oil keeps hitting record highs.

Is there any doubt that the oil companies are doing their part to try and keep el Arbusto del BFEE in office?

[Zynx]

1. Gas prices lag other commodity movements.

[UdoKier]

3. A year ago, six months ago, the prices at the pump were spiking

well BEFORE the price of oil rose. The pump price was going up after every phony terror alert or Iraq setback...

[michigandem2]

2. ours just went up from 1.77 to 1.98..there is no rhyme or

reason here...but its too high regardless...

[GiovanniC]

4. Ditto Here In Mid-Michigan

From $1.80 to $1.99 overnight.

[michigandem2]

5. yeah I live in GR Michigan..

I got gas at 7 am yesterday and by the afternoon (3 pm) it was almost $2

[GiovanniC]

10. Howdy Neighbor

Greetings from Jackson.

[michigandem2]

11. Hello fellow Michigander!!!! nt

[Retrograde]

7. in other words, you're catching up with CA

we've been at the $2+ level for quite some time.

Highest price I've seen in the US was $2.97 for premium in Needles, CA in early July.

[Lugnut]

17. Go figure!

Ours went from $1.859 last week to $1.795 this week. :wtf:

[billybob537]

6. No doubt

There's also no doubt that the oil Cos. have been price gouging, but don't expect any help from the LYING KING!

[Fovea]

8. Hoard hoard hoard.

It is going up up up as soon as it looks like * is going to lose.

[michigandem2]

9. why isn't he releasing the excess

that is in reserves? I think Clinton did that to keep oil prices down occasionally...god they are so FLIPPING greedy

[TheRovingGourmet]

12. The national reserve should never be used for this purpose. nt

.

[newyawker99]

21. Hi TheRovingGourmet!!

Welcome to DU!! :toast:

[Fovea]

13. His masters do not want prices down

even if it means getting him elected. This was a core part of the 'energy plan' and that is why you will only see it over Cheney's dead body.

[lapfog_1]

16. Even if * doesn't start selling or releasing the reserve

Why doesn't he stop FILLING the damn thing.

Every day, some few hundred thousand barrels of oil are purchased
on the open market to fill the strategic petroleum reserve.

Even a number of repuke law makers (who oppose releasing it), have
said that this is a bad use of taxpayer money (theory being that if
the US quits purchasing spot market oil, the price would drop, and
the US could start purchasing again in a few weeks at a reduced
price).

Of course, it could be that * KNOWS something that we don't, namely
that the price of oil ain't ever going down again.

[PA Democrat]

14. I was wondering the same thing

As I pulled in to a gas station today here in the Pittsburgh area, I heard that the price of oil was approaching $46.00 per barrel But strangely, I paid $1.79 per gallon which is more than $0.20 a gallon LESS than the peak price earlier this summer.

[CaTeacher]

15. The prices in different

parts of the country cannot be easily compared (going up in some places--while down in others), mainly because of formulations differences and refinery capacities. (The differences in formulations are driven by environmental regulations for the most part.)

Price per barrel is not the only thing that drives the price.

[gasperc]

18. people aren't buying, so in the end their profits might get squeezed

The prices have gotten high enough for people to re-think how much they can or should spend on gas, I'm driving my car without air conditioning, avoiding unnecessary trips etc

[shanti]

19. i can top that

on the way back from my son's wedding this past weekend on I-5 in california (around buttonwillow), the price for regular was $2.65 a gallon! you can imagine what premium was! i didn't see too many takers tho.

[rustydad]

20. Feedback

The price of gas vs. the price of crude are somewhat disconnected. The gas price run up a few months ago was mostly due to refineries cutting back on production for various reasons, mostly seasonal shifting to summer blends. The real pass through of crude inflation will hit a much broader sector of the economy than just gasoline price. Crude is the base for so many functions in our economy that a rise in price will effect eventually just about everything. Then there is the feedback where a price rise in one sector causes a rise in another which then comes back and effects the former, i.e. a vicious circle. Hard times are appon us. bob

[baldguy]

22. They have to get the national average under $2 for Bush.

And they have to do it before Nov.

[rman]

23. oil price:

http://www.bloomberg.com/energy/

nymex crude

30-7-2004 43.8
2-8-2004 43.83
3-4-2004 44.15
4-8-2004 44.25
5-8-2004 44.41
6-8-2004 44.6
7-8-2004
8-8-2004
9-8-2004 44.87
10-8-2004 44.8
12-8-2004 44.8
13-8-2004 46.58

[Viking12]

24. Crude Futures

The "oil market" is buying/selling oil futures to be delivered in September. Look for steep increases at the pump as temporary surpluses in the "gas market" are diminshed.