Gas Prices Hit Highest Level Since 2008

[Psephos]

Source: CBS News

U.S. motorists are paying the highest prices for gas since October 2008. Retail gasoline prices rose on Thursday on an expected increase in demand and as more expensive spring and summer blends of gasoline make their way to the pumps. The nationwide average hit $2.799 per gallon, a penny higher than Wednesday, according to AAA, Wright Express and Oil Price Information Service.

Prices have now jumped 18.9 cents in the past month and are 87.9 cents higher than year-ago levels. Back on Oct. 23, 2008 prices averaged $2.8215 per gallon. The Energy Department and many industry experts expect prices to top $3 this spring.

<snip>

Americans now spend about a $1 billion a day to keep their cars and trucks filled, an increase of nearly $300 million from a year ago.

With the average driver using about 50 gallons a month of fuel, the bill runs $140 per month and is expected to rise over the next several weeks.

Read more: http://www.cbsnews.com/stories/2010/03/18/national/main6312640.shtml

[kestrel91316]

1. No impact on me, thankfully. But the impact on my clients is NOT good.

Actually if it makes food more expensive, the secondary impact for me is bad. I can only cut back on groceries just so much.

[high density]

2. I noticed

Filled up tonight and was shocked to see $2.919 on the pump. Once again this blend bullshit is trotted out. It's March, seems early for the typical "blend" excuse.

[cabluedem]

8. $3.13 gal. regular here in CA. The oil companies are lying like usual.

[orbitalman]

3. + Our Village is 'reinstituting' annual vehicle stickers @ $50 per...

after trading that OFF for a telephone tax, to cover their butts. But the phone tax will NOT be rescinded. It is suffocating.

[cabluedem]

7. Get Skype or a Magic jack or a good cellphone plan. No home phone needed.

[Sherman A1]

12. Have you tried Magic Jack?

I am considering one, but would like to know a bit more about transmission quality and such.

[pampango]

13. We've just been using it for about 2 months but have liked it so far, no echoes or static

and quite cheap. Magic Jack says that you'll soon be able to keep your old phone number, if that's important to you, rather than get a new one like we had to do.

[Sherman A1]

24. I would like to keep my number

had it for years and years, kinda hate to give it up.... might be silly, but wife feels the same.

[lostinseganet1]

14. hmmm magic jack

Magic Jack has had a few scandals awhile ago. You may want to look into their history.

[Leopolds Ghost]

15. That's the objective of the Administration -- to kill phone service and force people to use cells.

According to NYT, cover article a few days ago, the FCC wants to consolidate ALL MEDIA onto cable broadband owned by a few nationwide service providers. To eliminate all old media (phone, newspapers, broadcast TV). Welcome to a whole new world of choice, population 6 billion!

[Warpy]

4. Thank your happy hedge fund managers

especially those in Golden Sacks. They're bidding up commodities prices again, hoping for another big score. About the only thing we can do to screw them out of it is reduce our demand sharply again.

I've already done so.

[Javaman]

19. Wait for the excuse game...

"we are changing over to summer blends", "the economy is getting better so people are driving more", "the moon is made of swiss cheese not green cheese".

[HCE SuiGeneris]

5. Thank goodness we've amended all he rules to avoid that speculation

that caused so many of the previous run-ups...


;(

[INdemo]

16. Yes..well it seems that President Obama must have found out the

oil companies pay very good dividends..On the campaign trail he said..."we will enforce the rules on speculation to stop this price gouging by the oil companies"
Did you know that its an exclusive club now and for a very few speculators they dont need to invest one dime in margin money in order to buy oil contracts..Amazing..
Obama's Presidency is nothing more than a Bush third term.

[8 track mind]

6. this is why im dusting off the Motorcycle. 55 mpg. n/t

[LarryNM]

9. Meanwhile the American Petroleum Institute

continues its agit-prop MSM ads about how increasing the gas tax will be so bad for the economy, workers, etc., showing interviews with "real" workers. Can't have money for the bad govmit, But the price increases we are seeing at the pump are part of the Magical Unseen Hand that is part of the "free market" and Of Course doesn't effect jobs, the economy or other expenses at all. These people's unquestioning belief in their gobbledygook ideology would make the old Soviet Propagandists blush.

[davidpdx]

10. Gas is expensive here in Korea as well

Runs about $5 a gallon. Just bought a car last Sunday and it runs on natural gas. It's about half the cost.

[Sherman A1]

11. Yup,

It's been creeping up since late last year. I do what I can to reduce my usage by combining trips and such, but still have to commute and the wife's commute is about to triple as her office is being moved (combined with no raise or bonus this year, because "things are terrible" excuse). I have found the best time to fill up is early Monday Morning on the way to work as prices usually go up on Tuesday PM or Wednesday, but beyond that we are pretty much screwed no matter what we do.

[greiner3]

17. My 1997 Geo Prizm gets 40 mpg;

Just saying.

[elocs]

18. Here in La Crosse in western WI it went up to $2.84 yesterday.

Earlier in the winter it had been at $2.49 and it has been creeping up ever since.

[RUMMYisFROSTED]

20. The Laws of Expected Supply and Expected Demand.

[protocol rv]

21. high gasoline prices are good

They help you Americans conserve energy, and reduce your CO2 emissions. Also, those of us who sell oil make more money, and this is good for us.

[Psephos]

22. They are regressive, harming poorer people disproportionately.

Regressive pricing of transportation fuel creates a lot of misery among those who are already struggling.

[Abq_Sarah]

23. They

Increase the price of goods and services through higher transportation costs. A significant increase in my fuel costs could mean one of my full time employees will find themselves in a part time status.