Gas Price Info With National Gas Temperature Map

[Neutron]

A good friend and church member of ours owns a gas station in town. It's the only ethanol-free station around us. He told me last night that since I filled up on Tuesday he's had to raise prices another 10 cents overnight into yesterday, and was going to have to raise it another 8 cents last night. On Tuesday it was $3.24 a gallon for ethanol-free 87 octane. We pay about a 10-15 cent premium to go to his station. The Exxon across the street matches his prices every time on their E10 gas which is quite funny. He tells me he makes about 10 cents a gallon profit. Mind you he doesn't run a convenience store on the inside and only sells automotive fluids and sodas inside his store.

We both were talking about how we think it's the economy driving this and not necessarily a geopolitical issue driving it.

 

[BobMurdoch]

All stations in this area are now $3.39 and up. I expect another round of increases as we go into the next month.
I see no end in sight. Gas prices will rise steadily until spring.
I saw a story on Bloomberg.com where a couple of analysts stated oil and gasoline futures were a good investment.
That means rising consumer prices.
BTW, the last GDP report showed a contraction in GDP for Last quarter of 2012. That is the first contraction in 3 years.
Rising energy prices will go further to scuttle any type of economic growth.

Gas prices do this every year... they plunge in the fall/early winter and then creep back up before popping in the late spring/early summer. As for the 4Q2012 0.1% contraction, it was due to a 15% drop in federal defense spending (many contracts call for 90 day prior notice, so it was a mini fiscal cliff that hit that sector just in case the big one hit on January 1st. Masked in that supposedly awful report was a 15% increase in residential housing output which provide the first increase to the GDP from housing in 8 YEARS. Don't forget also that many sections of the country ground to a halt when Sandy hit. This is a one off number that Wall Street is shaking off as the Great Rotation into equities away from bonds continues. Once the rest of them figure out that normal economic times could be coming it will surge even further as they ditch inflation vulnerable fixed income assets (bonds, annuities, CDs, etc.) and get into other assets that will ride inflation upwards (equities, commodities, etc.)

 

[osu1991]

another jump to $3.29 this morning

 

[Stargazer]

3.65 everywhere in this area now except one station at 3.59

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[dishcomm]

http://video.cnbc.com/gallery/?play=1&video=3000144846
SO there ya have it. Tight supplies, no doubt created by higher demand for heating oil due to cold weather in the Northeast combined with a falling US Dollar and a few other triggers.
Not good news for the consumer.
$4 average by the end of April. That's my guess.

 

[pro96]

http://video.cnbc.com/gallery/?play=1&video=3000144846

$4 average by the end of April. That's my guess.

Try $4.00 by next week locally.

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[Bobby]

$3.61 at Costco, 20 cents more everywhere else.... Yep, $4 soon...

 

[pro96]

$4.13 for regular at Chatsworth Calif.
$4.21 for 89 grade
$4.29 for 92 grade

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[dfergie]

$3.35 - $3.39 from here to 80 miles north although I did find it at $3.21 and topped off up there in UFO land.

 

[osu1991]

I was all over NE Oklahoma today and it was $3.21-$3.22 everywhere.

 

[osu1991]

ouch! got some sticker shock this afternoon when I pulled in to fill up. almost 20 cent jump from yesterday to $3.39

 

[dfergie]

Was $3.39, jumped to $3.43 today ...

 

[dishcomm]

we're running between $3.40 and $3.50 now. Up roughly 40 cents since just before Christmas

 

[Ramy]

Jumped from $3.36 to $3.79

 

[pro96]

Jumped from $3.36 to $3.79

Cheap still compared to round here

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[osu1991]

up another dime to $3.49 this morning

 

[Bobby]

$3.89 at Costco...

 

[dishcomm]

In this area( Central NC)All stations now over $3.50 per gallon. I'm not seeing anything stopping this latest round of price increases. I am still on gas being over $4 per gallon nationwide by the end of April.

 

[dishcomm]

The March Contract( NYMEX) for unleaded gasoline is up another 6 cents today to $3.10 per gallon. This is up over 70 cents since mid December.
The $3.10 mark is just 50 cents below the all time highs seen back in 2007.
For market quotes go to cnbc.com. Click "markets/ commodities/.."

 

[Ramy]

Why is it going up?