Gas near $3 for rest of summer

[partylessinOhio]

US gasoline seen near $3 for rest of summer

By Tom Doggett
1 hour, 47 minutes ago

U.S. drivers should expect to pay around $3 a gallon coast to coast for gasoline through the rest of the summer, the government's top energy forecasting agency said on Wednesday.

The federal Energy Information Administration said it expects "gasoline prices to remain in the vicinity of $3.00 per gallon for much of the rest of the summer, with any significant price declines not likely to occur before September (after the Labor Day holiday) when demand typically drops sharply."

The national price for regular unleaded gasoline increased 1.4 cents over the last week to $3 a gallon, up 71 cents from a year ago and the second highest pump price ever, the EIA said.

The agency said it was not sure if gasoline prices during one or more of the remaining weeks this summer will pass the record $3.07 a gallon hit last September after Hurricane Katrina disrupted petroleum supplies.

"For both August and September, an increased likelihood of hurricanes, particularly this season, is another major uncertainty that can dramatically affect gasoline prices, especially if the hurricanes are powerful and hit the major oil producing and refining centers along the Gulf Coast," the EIA said in its weekly review of the oil market. (snip)

http://news.yahoo.com/s/nm/20060726/us_nm/energy_gasoline_price_dc




While you pay at the pump remember the profits:


ConocoPhillips profit surges on higher oil prices

By Deepa Babington
2 hours, 35 minutes ago

NEW YORK (Reuters) - ConocoPhillips (NYSE:COP - news), the No. 3 U.S. oil company, on Wednesday reported a 65 percent surge in quarterly profit, boosted by sharply higher crude oil prices and the recent acquisition of Burlington Resources.

But the company said production in the third quarter would be hurt by seasonal maintenance scheduled in Alaska, the United Kingdom and Venezuela and that it would take a $400 million charge over higher U.K. tax rates.

It also warned it was feeling the pinch from dramatically higher costs that were hitting all parts of its business.

That didn't stop the company from posting a handsome second-quarter profit of $5.19 billion, or $3.09 a share, up from $3.14 billion, or $2.21 a share, in the year-earlier quarter. (snip)

http://news.yahoo.com/s/nm/20060726/bs_nm/energy_conocophillips_earns_dc_4;_ylt=ApiTUtlII1bb5uveKr8meAYXIr0F;_ylu=X3oDMTA2ZGZwam4yBHNlYwNmYw--

[msongs]

1. Great! price has to drop here to get near $3/gallon right now gas is

mostly $3.30 or higher!


Msongs
www.msongs.com/howarddean2008.htm

[walldude]

6. Yep I've been in 10 cities in 11 days and haven't seen

anything under 3.05 a gal.

[Davis_X_Machina]

2. When $3/gal heating oil takes its place. n/t

[WePurrsevere]

7. Very true & scarey since we'll NEED to use a whole lot more oil then

gas and even with turning the thermostat way down for too many (us included) it looks like it's going to be another long and very cold Winter unless there's a miracle. :scared:

[buff2]

3. 3.09 here in southern Ohio

:argh:

[sharp_stick]

4. Already there...

The lowest I've seen in the last few days is $3.19 in central CT, about $3.15 at Costco

[fordnut]

5. As long as the repugs are in power it will stay

That is the way it has been for almost 40 years,Nixon was the first to figure out how to get prices up.Just check history for the proof.

[mike_c]

8. I WISH gas was "near $3" where I live (NorCal)....

Unfortunately, it was near $3.50 when I left for vacation nearly 2 weeks ago, and I suppose it's probably nearer $4 than $3 by now.

[longship]

9. I would *LOVE* paying only $3 a gallon.

Prices here (SoCal) have been $3.25 or more for some time now.

[bobbolink]

10. That is, unless/until the US uses nukes in the M.E.

:scared: