>Are Gas Prices going up in your area ?<
#1
03-22-2016, 01:58 PM
>Are Gas Prices going up in your area ?<
Map Gas Prices - GasBuddy.com < Click 2 find the best prices in your area. It's already over $2 a gallon + in my area...
Say so long to gas prices like this,
seen on Routes 1&9 in Jersey City almost a month ago on Feb. 27. Demand is up, crude oil prices are up and experts said that could push prices over $2 a gallon. (Larry Higgs | NJ Advance Media for NJ.com)
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Here's why gas prices are increasing to top $2+ a gallon
Here's why gas prices are increasing to top $2+ a gallon
Say so long to gas prices like this,
seen on Routes 1&9 in Jersey City almost a month ago on Feb. 27. Demand is up, crude oil prices are up and experts said that could push prices over $2 a gallon. (Larry Higgs | NJ Advance Media for NJ.com)
Exactly one month ago, New Jersey drivers were reveling in low gas prices that dipped to the $1.30 mark. Now, experts say we're on the road to top $2 a gallon.
"Prices are going up and we can probably say we're going up over $2, said Tom Kloza, analyst for the Oil Price Information Service. "We have the highest crude oil prices since Dec. 3."
Drivers hit the road on Monday to find gas averaged $1.73 a gallon in New Jersey, which increased from Fridays $1.71 average price, as reported by GasBuddy.com.
Crude oil prices have been increasing since March 15, taking a brief break after poking over the $40 a barrel mark to settle at $39.47 by the end of the trading day on Friday, according to the NASDAQ website tracking the commodities markets.
Drivers hit the road on Monday to find gas averaged $1.73 a gallon in New Jersey, which increased from Fridays $1.71 average price, as reported by GasBuddy.com.
Crude oil prices have been increasing since March 15, taking a brief break after poking over the $40 a barrel mark to settle at $39.47 by the end of the trading day on Friday, according to the NASDAQ website tracking the commodities markets.
That is despite a record amount of 523 million barrels of crude oil in storage, according to the federal Energy Information Administration.
"Crude oil rallied by $14 a barrel and that works out to be 33 cents gallon," Kloza said. "We're the last region to switch to reformulated gas, so we haven't see the effects of that."
That switch and the accompanying price hike happens next month. Demand for gas also is increasing as more people take to the road now that winter is gone. What that means for drivers is those glory days of rock bottom process in the $1.30's and $1.40's are gone.
"We saw the bottom for crude oil and gasoline," Kloza said. "You'll see another week like last week (with) five to 10 cent increases."
With the price of wholesale gas at $1.43 a gallon on Friday, reported by NASDAQ, that means the lowest of the low prices reported on GasBuddy.com in the $1.51 to $1.53 range, are on the way up.
If there is a silver lining for drivers, it's that prices will go over the $2 mark, peak and settle back down, Kloza predicted.
However, if drivers want something to make go hmmmmm, here is an interesting statistic. Gasoline was the second largest U.S. petroleum product export in 2015, averaging 618,000 barrels a day to 102 different countries, which is up 68,000 barrel per day from 2014, according to the EIA.
That switch and the accompanying price hike happens next month. Demand for gas also is increasing as more people take to the road now that winter is gone. What that means for drivers is those glory days of rock bottom process in the $1.30's and $1.40's are gone.
"We saw the bottom for crude oil and gasoline," Kloza said. "You'll see another week like last week (with) five to 10 cent increases."
With the price of wholesale gas at $1.43 a gallon on Friday, reported by NASDAQ, that means the lowest of the low prices reported on GasBuddy.com in the $1.51 to $1.53 range, are on the way up.
If there is a silver lining for drivers, it's that prices will go over the $2 mark, peak and settle back down, Kloza predicted.
However, if drivers want something to make go hmmmmm, here is an interesting statistic. Gasoline was the second largest U.S. petroleum product export in 2015, averaging 618,000 barrels a day to 102 different countries, which is up 68,000 barrel per day from 2014, according to the EIA.
Who is the biggest importer of U.S.A gas? Mexico is the largest recipient of U.S. gasoline exports, with one-half of the gas exported in 2015 headed south of the border. Central and South America are also major importers, receiving 228,000 barrels a day in 2015, said the EIA.
and the price of gas going up again! : (
and the price of gas going up again! : (
Last edited by BeachBumMike; 03-22-2016 at 04:06 PM.
#2
03-22-2016, 02:09 PM
Sorry,
I don't like public transportation, but it's better then
walk'in in the hot sun ?
`Freak'in $8.32 + a gallon
What ? 
I don't like public transportation, but it's better then
walk'in in the hot sun ?
`Freak'in $8.32 + a gallon
What ?
#3
03-22-2016, 05:29 PM
A lot of the current rise in prices are due to the switch from winter to summer blend. There's always a price increase when that happens. With the glut of supply, production levels not dropping, and the Chinese economy still struggling, I don't see gas rising a lot further than wherever it settles after the summer blend switch is complete.
#4
03-22-2016, 06:12 PM
A lot of the current rise in prices are due to the switch from winter to summer blend. There's always a price increase when that happens. With the glut of supply, production levels not dropping, and the Chinese economy still struggling, I don't see gas rising a lot further than wherever it settles after the summer blend switch is complete.
Hi Sgt Major `Drew, I sure hope that you are right on your projection and that it doesn't climb back to super high prices. It's hurts many if that happens, + my company because they spend a lot of their budget on fuel. It affects their profits which equals it affects my yearly bonus (LOL)...The more they make, the higher my bonus..
And `if they lose, I lose + I want to get a new car soon & I won't want to spend $10 a gallon LOL....Thanks for your words/post
#5
03-22-2016, 07:06 PM
Hey BB Mike, last October I posted the following:
10-12-2015, 04:29 PM "The price for a gallon of regular in the Seattle area is averaging $2.29/ gal.
I predict the price has hit it's low point for the season, but will remain reasonably low until early spring".
__________________
The price did unexpectedly fall as low as $1.69/gal. here in January and held until about 2 weeks ago and has slowly risen to slightly over $2.00/gal.
I agree with SupplySgt. in reference to seasonal blends and world economy. It's a simple a supply vs. demand equation. I believe prices will increase another 20-30 cents per gallon for a national average of $2.50/gal. by mid summer then level off before dropping back down to $2.30/gal. in October.
November-December is anybody's guess with upcoming elections an how the national and world economies react.
Personally, I don't have anything to complain about if prices stay below $3.00/gal.
10-12-2015, 04:29 PM "The price for a gallon of regular in the Seattle area is averaging $2.29/ gal.
I predict the price has hit it's low point for the season, but will remain reasonably low until early spring".
__________________
The price did unexpectedly fall as low as $1.69/gal. here in January and held until about 2 weeks ago and has slowly risen to slightly over $2.00/gal.
I agree with SupplySgt. in reference to seasonal blends and world economy. It's a simple a supply vs. demand equation. I believe prices will increase another 20-30 cents per gallon for a national average of $2.50/gal. by mid summer then level off before dropping back down to $2.30/gal. in October.
November-December is anybody's guess with upcoming elections an how the national and world economies react.
Personally, I don't have anything to complain about if prices stay below $3.00/gal.
#6
03-22-2016, 07:13 PM
10-12-2015, 04:29 PM "The price for a gallon of regular in the Seattle area is averaging $2.29/ gal.
I predict the price has hit it's low point for the season, but will remain reasonably low until early spring".
__________________
The price did unexpectedly fall as low as $1.69/gal. here in January and held until about 2 weeks ago and has slowly risen to slightly over $2.00/gal.
I agree with SupplySgt. in reference to seasonal blends and world economy. It's a simple a supply vs. demand equation. I believe prices will increase another 20-30 cents per gallon for a national average of $2.50/gal. by mid summer then level off before dropping back down to $2.30/gal. in October.
November-December is anybody's guess with upcoming elections an how the national and world economies react.
Personally, I don't have anything to complain about if prices stay below $3.00/gal.
I predict the price has hit it's low point for the season, but will remain reasonably low until early spring".
__________________
The price did unexpectedly fall as low as $1.69/gal. here in January and held until about 2 weeks ago and has slowly risen to slightly over $2.00/gal.
I agree with SupplySgt. in reference to seasonal blends and world economy. It's a simple a supply vs. demand equation. I believe prices will increase another 20-30 cents per gallon for a national average of $2.50/gal. by mid summer then level off before dropping back down to $2.30/gal. in October.
November-December is anybody's guess with upcoming elections an how the national and world economies react.
Personally, I don't have anything to complain about if prices stay below $3.00/gal.
Hi `Bob,
We hope your prediction is correct
I agree with her
#7
03-22-2016, 07:22 PM
Going up indeed, pull up, fill up and leave. Complaining about the prices does you no good since its a necessity
#8
03-22-2016, 07:36 PM
Huge perk!
#10
03-22-2016, 10:46 PM
Yes they are going up a bit and I hope they continue! Bring back the $3-$4gal prices and the high demand again so I can actually have a good career again and make decent money again!