Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Automotive News & Views How does gas at $4 and higher impact you?
2183 messages, Last post on Nov 21, 2009 at 5:13 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
|
|
|---|---|
|
Replying to: lemko (Dec 23, 2008 5:50 pm) I loved that song. 
|
|
|
Replying to: boaz47 (Dec 23, 2008 9:40 pm) That is point on correct. I have family and friends that are paying off their gas cards from the crazy prices this summer. One fellow I talked to had never had a CC. He got the Shell card to save 5%. He has not paid off the balance that bloomed up with $4.50+ gas. Of course here in SoCA that was somewhat of a joke as Shell gas is way more expensive than the rest. Right today the cheapest Shell gas is about $1.79 and Costco/ARCO gas is $1.55. Even with the 5% off it is 15 cents per gallon more than discount gas. I would guess many folks will not recuperate from those gas prices for 6 months or more. Hopefully the new regime in Washington does not try to stick it to US with a higher gas tax.
|
|
|
Replying to: gagrice (Dec 24, 2008 9:02 am) LOL. I tried to apply for a Shell Mastercard back when gasoline was pushing $4.00/gal. They promptly offended me by declining me!  Around these parts, at least, Shell tends to be competitive. Between my job and home, there are only two gas stations, a Shell and a Citgo, and they're usually about the same. I have stock in Shell, so I try to give 'em my business when I can, but I'm not going to get gouged over it! |
|
|
Published: 12/24/08, 11:46 AM EDT By JOHN PORRETTO HOUSTON (AP) - Falling U.S. crude inventories failed to lift oil prices Wednesday, as traders focused instead on another round of bad economic news. Light, sweet crude for February delivery fell $1.60 to $37.38 in a shortened day of trading. Prices had fallen as low as $36.63 earlier in the day. Investors expecting more evidence of slowing U.S. energy demand got a bit of a surprise as the Energy Department reported crude inventories dropped last week. But Americans continue to cut back on driving amid the worst recession in a generation, leading to growing stockpiles of gasoline and eroding demand for motor fuel. "I don't see anything out of this report that's really going to change this downward move," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates. "Things are going to remain under downside pressure through the balance of this year and probably into the new year." A steady stream of dismal U.S. economic and corporate data during the past few months has hammered investor confidence and sent oil prices reeling 74 percent since July. More bad news emerged Wednesday with consumer spending falling for a fifth straight month in November, the longest weak stretch in a half century, while incomes declined under the weight of massive job layoffs. Separately, new claims for unemployment benefits rose more than expected last week, as layoffs spread throughout the economy, more evidence the labor market is weakening as the recession deepens. The Labor Department reported initial requests for jobless benefits rose to a seasonally adjusted 586,000 in the week ending Dec. 20, from an upwardly revised figure of 556,000 the previous week. That's much more than the 560,000 economists had expected. Manufacturers are slashing energy use as well. Orders at U.S. factories for big-ticket manufactured goods fell again in November, reflecting further setbacks in the battered auto industry and a big drop in demand for commercial aircraft. For the week ended Dec. 19 crude inventories fell by 3.1 million barrels, or 1 percent, to 318.2 million barrels, which is 9.1 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. Analysts had expected a boost of 1.5 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos. Gasoline inventories rose by 3.3 million barrels, or 1.6 percent, to 207.3 million barrels, which is 2.4 percent below year-ago levels. Analysts expected stockpiles of the motor fuel to rise by 900,000 barrels. Demand for gasoline over the four weeks ended Dec. 19 was 2.7 percent lower than a year earlier, averaging nearly 9 million barrels a day. At the pump, retail gas prices fell less than a penny overnight to a new national average of $1.655 a gallon Wednesday, and remain well below the year-ago average of $2.972 a gallon, according to AAA and the Oil Price Information Service. Oil traders so far have brushed off attempts by OPEC to boost prices through production cuts. The Organization of Petroleum Exporting Countries, which accounts for about 40 percent of global supply, said last week it would slash production by 2.2 million barrels a day, its largest single cutback ever. The most recent round of cuts would reduce OPEC production by more than 2 million barrels per day. OPEC may meet in Kuwait City on Jan. 19 to discuss further production cuts. The group's next official meeting is March 15 in Vienna. The fall of benchmark crude on the Nymex has been paralleled by steep declines in Brent futures traded on London's ICE exchange. Trader and analyst Stephen Schork noted that Brent crude has dropped "in 79 of the last 123 sessions ... by a total of $108.05 a barrel" - a 73 percentage point loss. On Wednesday, February Brent crude slumped $1.57 to $38.79 a barrel on the ICE Futures exchange. In other Nymex trading, gasoline futures slipped by 2.5 cents to 83 cents a gallon. Heating oil fell 4.4 cents to $1.2826 a gallon while natural gas for January delivery tumbled 18.8 cents to fetch $5.549 per 1,000 cubic feet. |
|
|
How much would one of the 1000s stranded by Amtrak in Chicago give for the use of my 4X4 Sequoia? I just do not like depending on someone else for travel. It is impossible to avoid Airlines to Hawaii unless you got a long time to ride on a cruise ship. Other than airlines I will avoid mass transit as long as I possibly can. Others were delayed for hours. The worst case – more than 600 passengers trying to get to the Pacific Northwest were stuck on the train and in cold waiting rooms for nearly a day. Some said they had little food and water. "We kept getting updated notifications that the toilets were frozen, the switching lines were frozen," a passenger said. "No one really knew what was going on." The train finally left Tuesday afternoon – 23 hours late – but would only go as far as St. Paul, Minnesota. http://cbs2chicago.com/local/amtrak.stranded.23.2.893948.html
|
|
|
Replying to: gagrice (Dec 24, 2008 9:19 am)
|
|
|
|
|
Replying to: gagrice (Dec 24, 2008 9:22 am)
|
|
|
Replying to: gagrice (Dec 24, 2008 9:22 am) Now that was a funny movie. |
|
|
Replying to: bumpy (Dec 24, 2008 5:19 am) Pull this usp and see what owners think of KIA. http://www.jdpower.com/corporate/news/releases/pressrelease.aspx?ID=2008115 VW has to send Kia thank you letters for keeping them off the bottom of the list. The are rated worse than Isuzu and we don't even get those anymore. That is a long way from good unless you have pretty low expectations.
|
|
|
Replying to: boaz47 (Dec 24, 2008 1:41 pm)
|
|
You are here:
Forums
Automotive News & Views How does gas at $4 and higher impact you?
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
