Gas prices surge 9%: Don't fear $4

Yeah, right. I'm comforted.

Don't blame me for the headline; I didn't create it. It's straight from the article.

Once again, these price increases baffle logic. Demand is lowest since 1995, and reserves are at an all time high since 1990.

So why the increases?

money.cnn.com...

Prices at the pump are up 18 cents over the last 13 days but analysts say $4 a gallon is not in the cards.

NEW YORK (CNNMoney.com) -- There's plenty of economic pain to go around these days because of the recession. Now there's this: Gas prices have surged nearly 9% over the past two weeks.

That's a gain of 18 cents during the past 13 days, and the national average hit $2.226 a gallon on Monday, according to a survey by motorist group AAA.

The good news: analysts say a return to last summer's record highs of $4 a gallon is not on the horizon. Indeed, while prices have been on a tear, they are still some 46% lower from the all-time high of $4.114 a gallon hit last July.

I swear if gas goes up to $4 bucks again I am getting rid of my car and riding a bike! I spent $600 last summer in one month on gas! I commuted about an hour to wk and my gas bill was more than my rent which is absolutely ridiculous. If gas keeps going up I have to cut my trips to AL to visit my BF once a month and that will NOT make me very happy. I just dont see why gas is going up, it makes no sense. This is the one thing that makes me want to scream at the top of my lungs. I try not to drive places I dont have to just so I can save gas. I dont do the things I use to because gas keeps going up. This needs to stop esp if there is no real need for it....sorry for the rant

Thanks for the info though..

Gas prices always rises at the start of Spring/summer months and around holidays. I expected this even with the strain on the economy. But then again looking at the results of the poll so far I wonder how much the economy has really faltered.

The good thing is that all those people who jumped on the buying the big SUVs at a cheap price will possibly understand why that was a bad idea. Then again maybe they won’t after all it was over spending that helped to bring about economic woes.

I am willing to bet prices hit around $4 a gallon though by the end of July.


I noticed the increase in prices about three weeks ago as I keep track of my MPG as well as the price.


Raist

It's amazing how prices can rise on conjecture.

Summer is coming, people drive more....raise the price...even though more people will be staying home?

Hurricane season is coming....raise the price...even though it might be a mild season?

But don't fear the 2010 mid term elections aren't far away! Gas prices always seem to come down around election time???

reply to post by Raist

Gas prices always rises at the start of Spring/summer months and around holidays. I expected this even with the strain on the economy. But then again looking at the results of the poll so far I wonder how much the economy has really faltered.

You are correct about the traditional summer vacation-time rise. That is done to limit demand, supposedly. But according to tracking org's such as AAA, auto travel is expected to decline this year due to the economy. And, as was mentioned, overall demand for crude is down, and reserves are up.

That's what puzzles me.

I can pose the answer to your questions with just one word: PROFIT!


These greedy bastards will stop at NOTHING to squeeze every penny they can out of us!

reply to post by jsobecky


The lowered travel thing is a bit suspicious to me. I often doubt when people say they are doing less and how much they have been affected by the economy. If we look at the posts on ATS over the past year you would think everyone was on the verge of living in a cardboard box, but looking at the poll results so far has the “has not affected me” seems to be in the lead. I think many just want people to feel show them some attention. I work with a woman who is like this.
This woman wants to be put on the schedule where she would get less hours/pay even though she complains about needing money.

Everyone I have talked to this year has not seemed to have changed their spending habits or their travel habits very much at all. Most are planning their same amount of summer travel as any other time.

I never go by speculation. I go by what I see around me. Travel will be the same if not more by car because airfare will cost more than most want to spend.

Raist

As gas prices go up, we might as well get ready to pay more for food as well. Stores will say it is because of the higher transportation cost due to the increase of the price of gas. But, you notice how food prices are never reduced once the price of gas goes down.

Ripped off all the way around.