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Gasoline Drives Toward $3 as Economy Improves

Wall Street Journal, Page C7, Thursday March 11, 2010 -- Gasoline prices are throttling toward $3 a gallon for the first time since the recession hit.

Underlying benchmark gasoline futures have rallied 21% since hitting a low in February to close Wednesday at $2.2851 a gallon on the New York Mercantile Exchange.

This portends further increases to retail gasoline prices, which have risen 5.5% over the past three weeks and are 42% higher than a year ago. A gallon of regular conventional gasoline in the U.S. cost an average of $2.75 as of Monday, according to the federal Energy Information Administration. In an official forecast released this week, the EIA said pump prices "will likely exceed $3 a gallon at times" this spring and summer.

People respond emotionally to rising gasoline prices and typically "will drive a mile out of the way for ever

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Submitted Mar 11, 2010 By: ScrufCurmudgeon

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ENORMS Champion Author Colorado Posts:2,173 Points:702,525 Joined:Sep 2006	Message Posted: Mar 12, 2010 5:07:49 AM Ignore ENORMS Report Abuse The speculators keep pushing up the price of oil until it kills the economy and puts more people out of work.
must87searcher Champion Author Maryland Posts:4,173 Points:813,770 Joined:Apr 2008	Message Posted: Mar 11, 2010 9:51:48 PM Ignore must87searcher Report Abuse The price here has been going up at almost a daily rate.
alterman156 Champion Author New York Posts:2,510 Points:585,075 Joined:Dec 2008	Message Posted: Mar 11, 2010 9:27:23 PM Ignore alterman156 Report Abuse There are a few stations already charging $3+ per gallon in my area.
JimTee All-Star Author Tampa Posts:920 Points:790,315 Joined:Apr 2006	Message Posted: Mar 11, 2010 9:12:33 PM Ignore JimTee Report Abuse And the oils companies are going to smile all the way to the bank...
OHMS Champion Author Orange County Posts:8,113 Points:914,610 Joined:May 2005	Message Posted: Mar 11, 2010 8:00:09 PM Ignore OHMS Report Abuse gas is well over $300 and has been; economy improves?? in which alternate universe?? respond emotionally and drive an extra mile?? that's dumb; not emotional Scrufy
Pete12 Champion Author Albany Posts:1,930 Points:797,015 Joined:Nov 2005	Message Posted: Mar 11, 2010 7:16:22 PM Ignore Pete12 Report Abuse It's the same old story. Speculation brings the price up not supply and demand.
brbaritone Veteran Author Virginia Posts:329 Points:821,970 Joined:Jan 2007	Message Posted: Mar 11, 2010 7:06:23 PM Ignore brbaritone Report Abuse Well, OK, the economy might be improving slowly, and demand may be beginning to move off of recent lows, but is it enough to cause gasoline to increase 42% over last year? Not hardly. Only expectation and manipulation can explain gas prices at $3/gallon in these economic conditions.
ops3 Champion Author Cincinnati Posts:1,229 Points:737,025 Joined:Dec 2007	Message Posted: Mar 11, 2010 6:43:21 PM Ignore ops3 Report Abuse What's wrong with this picture? Oil goes down, gasoline goes up!
uptherefiners Champion Author Chicago Posts:1,172 Points:274,950 Joined:Jun 2006	Message Posted: Mar 11, 2010 5:38:38 PM Ignore uptherefiners Report Abuse anybody betting it WON'T go over $3??
pulpwood Champion Author Mississippi Posts:4,055 Points:1,195,665 Joined:Sep 2006	Message Posted: Mar 11, 2010 5:24:54 PM Ignore pulpwood Report Abuse This is also what helped break us!
ENORMS Champion Author Colorado Posts:2,173 Points:702,525 Joined:Sep 2006	Message Posted: Mar 11, 2010 5:04:15 PM Ignore ENORMS Report Abuse The speculators keep pushing up the price of oil until it kills the economy and puts more people out of work.
scrounger Champion Author Vancouver Posts:8,449 Points:2,244,540 Joined:Mar 2003	Message Posted: Mar 11, 2010 4:57:19 PM Ignore scrounger Report Abuse one station in Blaine WA has been over $3 for months already
HankHill09 Champion Author Long Island Posts:1,241 Points:249,650 Joined:Sep 2009	Message Posted: Mar 11, 2010 4:54:38 PM Ignore HankHill09 Report Abuse BS
vegaland Champion Author Houston Posts:2,403 Points:501,795 Joined:May 2006	Message Posted: Mar 11, 2010 4:52:39 PM Ignore vegaland Report Abuse Bring down gas prices and nobody is going to waste money on gas stingy cars. There also won't be any electric cars either.
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 11, 2010 4:48:48 PM Ignore Rick52 Report Abuse You don't want Obama aid ...Look what his aid has done ...Lead us into the TOILET !!!
virginia52 Champion Author Alaska Posts:4,018 Points:794,635 Joined:May 2007	Message Posted: Mar 11, 2010 4:47:45 PM Ignore virginia52 Report Abuse We've been paying over $3.00 a gallon for years now and no end is in sight. When the lower 48 goes to $3.00 a gallon we will be over $4.00 a gallon.
pkhdonovan Champion Author Maine Posts:7,052 Points:1,730,395 Joined:Sep 2005	Message Posted: Mar 11, 2010 4:47:09 PM Ignore pkhdonovan Report Abuse jump ten overnight at some stations.
LCSTEELERBOB Champion Author Gary Posts:1,588 Points:366,895 Joined:Oct 2008	Message Posted: Mar 11, 2010 4:46:06 PM Ignore LCSTEELERBOB Report Abuse when will obama and his people come to our aid???
ruddy Rookie Author North Dakota Posts:1 Points:7,695 Joined:Mar 2004	Message Posted: Mar 11, 2010 4:45:17 PM Ignore ruddy Report Abuse If they would pull oil off the stock market we would not have those crazy up and downs, the big money is being made by brokers and the companies they work for.
MidNJ Champion Author New Jersey Posts:1,662 Points:253,605 Joined:Sep 2009	Message Posted: Mar 11, 2010 4:43:22 PM Ignore MidNJ Report Abuse Didn't we read this story yesterday?
PaulBacon Champion Author Miami Posts:1,280 Points:1,882,835 Joined:Apr 2004	Message Posted: Mar 11, 2010 4:41:34 PM Ignore PaulBacon Report Abuse It would only be for a little bit. However, there's no longer going to be $4.-a-gallon gas in the future. Paul Bacon :-)
hoof11 All-Star Author Pennsylvania Posts:669 Points:45,095 Joined:May 2009	Message Posted: Mar 11, 2010 4:41:11 PM Ignore hoof11 Report Abuse Greed Lobbiest unions Plus Crooked Politications = We Are SOL
waynemustang Champion Author Indiana Posts:3,228 Points:845,275 Joined:Nov 2006	Message Posted: Mar 11, 2010 4:38:12 PM Ignore waynemustang Report Abuse Hey, it isn't there yet.
FrayserMailman Sophomore Author Memphis Posts:182 Points:1,111,525 Joined:Aug 2005	Message Posted: Mar 11, 2010 4:37:44 PM Ignore FrayserMailman Report Abuse Oil company 'Gluttons', along with 'paid off crooked politicians', and 'crooked un-necessary speculators' are killing this country!!
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 11, 2010 4:35:27 PM Ignore Rick52 Report Abuse By Memorial day ??? It's almost there now !!!! We have two months to go !!!
k2kipp All-Star Author Minnesota Posts:800 Points:404,880 Joined:Sep 2005	Message Posted: Mar 11, 2010 4:35:01 PM Ignore k2kipp Report Abuse Nothing but GREED!
garman87 Champion Author Austin Posts:1,295 Points:1,513,775 Joined:Aug 2005	Message Posted: Mar 11, 2010 4:32:36 PM Ignore garman87 Report Abuse Gas will surely be 3.00 by Memorial Day.
THEDodgeman Champion Author Denver Posts:3,078 Points:974,165 Joined:Apr 2005	Message Posted: Mar 11, 2010 4:30:33 PM Ignore THEDodgeman Report Abuse BOHICA.......BIG OILS GREED ....BEND OVER HERE IT COMES AGAIN
Road-Runner Champion Author Denver Posts:3,621 Points:1,227,775 Joined:May 2004	Message Posted: Mar 11, 2010 4:30:23 PM Ignore Road-Runner Report Abuse Prices in North America are driven by monopoly, cartels and greed. Big Oil gets the profits and consumers get the shaft.
pliskin Champion Author Syracuse Posts:3,209 Points:981,010 Joined:Apr 2005	Message Posted: Mar 11, 2010 4:27:53 PM Ignore pliskin Report Abuse Our average here in central NY is $2.89 for a low. It goes up from there.
gass12 Champion Author Omaha Posts:3,636 Points:1,344,490 Joined:Oct 2005	Message Posted: Mar 11, 2010 4:27:26 PM Ignore gass12 Report Abuse It went down here yesterday to $2.65 a gallon.
toothfairyOH Rookie Author Akron Posts:4 Points:100,355 Joined:Nov 2009	Message Posted: Mar 11, 2010 4:27:03 PM Ignore toothfairyOH Report Abuse Went from $2.65 this morning to $2.75 on the drive home-NICE!!!
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 11, 2010 4:25:59 PM Ignore Rick52 Report Abuse OnTheWater : I agree but I think we are getting to the point of it is to late !!!
Romey08 Champion Author Virginia Posts:1,954 Points:573,275 Joined:Apr 2008	Message Posted: Mar 11, 2010 4:24:19 PM Ignore Romey08 Report Abuse Some gas station prices are as high as $2.89 a gallon here.
MalibuGordie Champion Author California Posts:3,388 Points:629,715 Joined:Sep 2008	Message Posted: Mar 11, 2010 4:24:14 PM Ignore MalibuGordie Report Abuse Already $3 in California.
regasaz Champion Author Phoenix Posts:1,176 Points:350,615 Joined:Dec 2006	Message Posted: Mar 11, 2010 4:21:48 PM Ignore regasaz Report Abuse The Economy is improving at the same rate as Obama's Approval Rate is improving. It is NOT.
jwduke1 Champion Author Iowa Posts:11,335 Points:2,222,585 Joined:Apr 2004	Message Posted: Mar 11, 2010 4:20:29 PM Ignore jwduke1 Report Abuse Surprise, it went down .07 cents here, today!
CarrottopNe Champion Author Lincoln Posts:1,025 Points:367,365 Joined:Jan 2009	Message Posted: Mar 11, 2010 4:15:30 PM Ignore CarrottopNe Report Abuse It could hit $3 by April 1st
CarrottopNe Champion Author Lincoln Posts:1,025 Points:367,365 Joined:Jan 2009	Message Posted: Mar 11, 2010 4:14:38 PM Ignore CarrottopNe Report Abuse $2.75 is cheap compared to here.
OnTheWater All-Star Author Orange County Posts:724 Points:221,090 Joined:Nov 2009	Message Posted: Mar 11, 2010 4:14:05 PM Ignore OnTheWater Report Abuse I agree with eye-spy 100% and then some!!! This economy is no more improving than the man on the moon!! They just say that so they have another excuse to gouge us but what they don't realize is that they are putting our economy further in Recession!! They will eventually realize their mistakes and lower crude prices/pump prices but by then it will be too late!!!!!!!!!!!!!!!!
preacherjohn All-Star Author Modesto Posts:829 Points:1,020,545 Joined:May 2006	Message Posted: Mar 11, 2010 4:01:12 PM Ignore preacherjohn Report Abuse We are already at $3.05 for diesel & gas is going for $2.99.
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 11, 2010 3:58:58 PM Ignore Rick52 Report Abuse 2.53 that's cheap average here 2.75
eye-spy All-Star Author Quebec Posts:678 Points:1,467,310 Joined:Feb 2005	Message Posted: Mar 11, 2010 3:55:56 PM Ignore eye-spy Report Abuse "Gasoline Drives Towards $3 as Economy Improves" should read: "Wall Street Drives Gasoline Towards $3 As Economy Continues To TANK!!!
southjerseyal Champion Author New Jersey Posts:8,758 Points:1,222,190 Joined:Mar 2005	Message Posted: Mar 11, 2010 3:51:20 PM Ignore southjerseyal Report Abuse Cheapest around Clementon, NJ is now $2.53 and going up FAST...
caddilac Champion Author Ontario Posts:10,690 Points:1,165,005 Joined:Apr 2007	Message Posted: Mar 11, 2010 3:49:39 PM Ignore caddilac Report Abuse Nothing surprising here. Just another in a long line of BS excuses to get prices up at the pumps.
zeepelin Rookie Author Dallas Posts:89 Points:585,010 Joined:Jul 2007	Message Posted: Mar 11, 2010 3:48:01 PM Ignore zeepelin Report Abuse It was nice for a while having to pay under 3 dollars
2granny Champion Author Michigan Posts:4,247 Points:490,000 Joined:Apr 2009	Message Posted: Mar 11, 2010 3:47:55 PM Ignore 2granny Report Abuse What? Economy Improves where? Tell that to all the unemployed and see how far you get.
Rick52 Champion Author Milwaukee Posts:6,260 Points:280,105 Joined:Mar 2005	Message Posted: Mar 11, 2010 3:47:39 PM Ignore Rick52 Report Abuse JULY 4TH ??? At the rate it's going it will be Memorial day !!!
PathfinderSC Champion Author South Carolina Posts:4,580 Points:861,685 Joined:Mar 2008	Message Posted: Mar 11, 2010 3:42:37 PM Ignore PathfinderSC Report Abuse It will pass the $3.00 mark easy by July 4th.
kettle Rookie Author Yakima Posts:63 Points:1,151,555 Joined:Oct 2005	Message Posted: Mar 11, 2010 3:42:33 PM Ignore kettle Report Abuse What do you mean, gas is "throttling" towards $3.00 a gallon? It's already there !!! It is $3.09 here and climbing !!!