A gallon of regular unleaded in Western Massachusetts
Here's the price at the Citgo (which is usually the cheapest around):
Tuesday - $2.61
Wednesday - $2.86
Thursday - $3.11
Follow-up – Here’s Lee at Right-Thinking from the Left Coast: “I want to make a prediction here, right now. Within two months, gasoline will be five dollars a gallon.” Golly, I think that’s overreacting. The Gulf Coast accounts for one-fifth of our national petroleum production, so on a supply-demand curve the price of gas should rise 20-30% until supply re-stabilizes. Plus, school is starting up again meaning that the summer traveling season is over yet it’s still warm enough that there won’t be much demand for heating oil.
Update – From Forbes: “Gas, oil prices dip as pipelines restart” – “Gasoline futures prices fell Friday for the first time in a week as some fuel pipelines on the U.S. Gulf Coast began to restart operations shut in the wake of Hurricane Katrina.”
5 comments:
basically the same here (Wisconsin), except you would have to back those prices up one day and then add "Thursday: $3.39"
Remember when candidate Bush was hammering Clinton/Gore for allowing oil prices to hit $35 a barrel? Remember when candidate Bush was saying he was the man who could talk the Saudis, and get them to increase production and stabilize prices? Remember how Iraq was going to pay for its own occupation with oil? Ahhhh, nostalgia. Enjoy the '06 midterms!
Remember back when people learned Economics in school? Something about Supply and Demand.. and the fact that the Saudis don't dictate the price of oil. That is done by commodities traders based on availability of supply. Oddly enough, the Saudis are pumping as much oil as they possibly can. They're as worried about the cost of oil as we are, because they know if the price goes up, we'll look for alternative sources of energy.
Maybe people who comment online should start looking for alternative sources of information.
The oil industry can recouperate very fast. There's too much money to be made not to.
recent news story....
"Kuwait donates $500 million in oil products for Katrina"
the Kuwaiti Sheik cites examples of their "great ally", the United States, liberating them from Iraq, as well as protecting them during the Iran/Iraq war of the 1980s
thanks guys! we truly appreciate your help!
Post a Comment