Gas Prices Will Pull Back, Stay High, Administration Says

[beefcake28]

Gas Prices Will Pull Back, Stay High, Administration Says


Drivers are paying over 30 percent more for gasoline than before Hurricane Katrina, AAA says, despite a slight pullback in prices Monday.

The national average for a gallon of regular unleaded is $3.04 on Monday. It was $3.06 Sunday.

AAA South said drivers paid an average of about $3.20 a gallon for unleaded regular on Monday, up $1.35 from a year ago.

The price hike is 75 cents more than before the hurricane.

In Georgia, a moratorium on gas taxes and a slight dip in wholesale prices helped drop gas to an average of $3.05.

The moratorium suspends Georgia's 7.5 cents-a-gallon excise tax and 4 percent sales tax on gasoline until the end of September.

The Energy Department said late Monday the average retail price of regular gas jumped almost 46 cents a gallon in the week after tge storm.

The Energy Information Administration said that pushed the price of a gallon to $3.07.

EIA administrator Guy Caruso says gas prices should back off a little bit from record levels. But he told a Senate panel they'll remain relatively high.

He expects gas will average $2.60 a gallon in the third quarter of the year and $2.40 a gallon the the fourth quarter.

Higher gas prices may have also slowed sales in shopping malls this Labor Day weekend.

Prices are going up because production facilities in U.S. Gulf states are responsible for producing 1.4 million barrels of oil each day.

That is equal to what is imported from Saudi Arabia each day.

Eighty percent of U.S. production was halted because of the storm.

At one point, nearly 95 percent of the production from these Gulf Coast facilities was disrupted.


http://www.thedenverchannel.com/automotive/4939053/detail.html

 

[lardo5150]

soooooo, they will go down then right, if I read that right.

 

[big4life]

Gas prices jumped 70 cents in 4 hours because someone saw a way to make a profit.

 

[beefcake28]

soooooo, they will go down then right, if I read that right.

Prices will go down, but apparently not back to the pre-Katrina prices....

 

[DJ_UFO]

We should produce more oil from the gulf but democrats do not approve that. Environment reasons.

 

[MattTheSkywalker]

Gas prices jumped 70 cents in 4 hours because someone saw a way to make a profit.

nothing wrong with profits.

 

[Beachbum1546]

i'm going on a hour and a half drive to go sky diving then to a bid party on saturday. basically an amazing day but i was thinking about not going because i didn't want to spend so much money on gas.
if that happened to me then imagine how many others are thinking the same .

 

[MattTheSkywalker]

the environmental lobby is somewhat to blame; no new US refineries have been built in 30 years.

Reduced use will set prices but harm the economy.

I suggest everyone consume consume consume as the elimination of oil is the only way to force development of a new energy source.

 

[bluepeter]

We should produce more oil from the gulf but democrats do not approve that. Environment reasons.

I know. Imagine having a long term view.

 

[MattTheSkywalker]

I know. Imagine having a long term view.

not so simple.

Long term view is hurting many right now, environmental stuff has no merit, given the really long term view of earth's climate.

30 years ago, in the height of the freon days, global cooling was the big fear of climatologists.

Long term view is OK when it's logical.

 

[-SD-]

not so simple.

Long term view is hurting many right now, environmental stuff has no merit, given the really long term view of earth's climate.

30 years ago, in the height of the freon days, global cooling was the big fear of climatologists.

Long term view is OK when it's logical.

Theres just no way to win with the environmental folk.

 

[bluepeter]

not so simple.

Long term view is hurting many right now, environmental stuff has no merit, given the really long term view of earth's climate.

30 years ago, in the height of the freon days, global cooling was the big fear of climatologists.

Long term view is OK when it's logical.

Very simple actually. While the theories differ and have different levels of credibility, one thing is for sure. We are damaging our planet, perhaps beyond repair.

 

[MattTheSkywalker]

Very simple actually. While the theories differ and have different levels of credibility, one thing is for sure. We are damaging our planet, perhaps beyond repair.

They said the same thing about global cooling 30 years ago. Climatology is poorly understood and there is little belief that man can affect it at all.

I like scrambled eggs.

 

[Ish]

The great thing about us possibly destroying our planet now, is that everyone posting on this thread won't be around to worry about it when/if it is destroyed.

 

[bluepeter]

They said the same thing about global cooling 30 years ago. Climatology is poorly understood and there is little belief that man can affect it at all.

I like scrambled eggs.

You are referring specifically to theories like global warming. While I believe it has some merit, I understand those that would try and refute it. What cannot be refuted is the general damage we have done and are doing.

 

[hamstershaver]

its already gone down more than 10 cents a gallon here

 

[redguru]

You are referring specifically to theories like global warming. While I believe it has some merit, I understand those that would try and refute it. What cannot be refuted is the general damage we have done and are doing.

Every time you turn a spade of soil to plant a seed you are upsetting an apple cart of environmental conditions. Don't throw a wrench in technological progress just so that you can justify your other political agenda items. Environmentalists and the politics associated with them are just a smokescreen for a Socialist movement.

 

[WODIN]

Gas prices jumped 70 cents in 4 hours because someone saw a way to make a profit.

Yep.

 

[CENTURION44]

Dont buy gas on SUNDAYS....as long as everyone does it...it will work

 

[redguru]

Dont buy gas on SUNDAYS....as long as everyone does it...it will work

No it won't, because the cyclical nature of such a boycott will cause anticioation in the market, and they'll just sell more gas on Saturday and Monday.

 

[canadianhitman]

Theres just no way to win with the environmental folk.

Shoot em' all...problem solved.

 

[CENTURION44]

No it won't, because the cyclical nature of such a boycott will cause anticioation in the market, and they'll just sell more gas on Saturday and Monday.

Some people will compensate by purchasing on other days....but most will just sacrifice...by instead of taking a Sunday drive for no reason or going to the mall for no reason or anything...people will just decide to stay home and have a family day....

 

[bluepeter]

Every time you turn a spade of soil to plant a seed you are upsetting an apple cart of environmental conditions. Don't throw a wrench in technological progress just so that you can justify your other political agenda items. Environmentalists and the politics associated with them are just a smokescreen for a Socialist movement.

Meaning what exactly? What technological progress? Finding more oil? I would consider trampling the environment to continue our utter dependence on fossil fuels as technological regression so I don't follow you.

lol at comparing planting a seed to destroying ecosystems.

 

[redguru]

Meaning what exactly? What technological progress? Finding more oil? I would consider trampling the environment to continue our utter dependence on fossil fuels as technological regression so I don't follow you.

lol at comparing planting a seed to destroying ecosystems.

Mount St Helens, in one eruption spewed more hydrocarbons into the air than the combined pollutants of every automobile ever made. The idea that we are causing any catastrophe is ludicrous at best.

 

[bluepeter]

Mount St Helens, in one eruption spewed more hydrocarbons into the air than the combined pollutants of every automobile ever made. The idea that we are causing any catastrophe is ludicrous at best.

I have no response other than my friend.