Gas Prices hit $2/gallon!

[KDXSR5]

I just filled up a few hours ago... $3.20 for regular, $3.05 with my discount card. Live where it is produced and there are few people and even fewer taxes and gas stays lower than the rest of the country I guess.

[Dingman.]

lucky.........   $3.88+ here

[Rocksurfer]

time before last i used arco gas, mid grade, it pinged sooo bad in my runner, and my gas milage was worse than it normally is...it aint worth it for my, ill pay the extra 5cents a gallon

Don't normally use it either, was just what I saw but I've never had an issue with Arco when I have used it even in my dually with a 460 which I run regular in.

[brockbuilt85]

Don't normally use it either, was just what I saw but I've never had an issue with Arco when I have used it even in my dually with a 460 which I run regular in.

maybe its just my arco then, haha. oh well, more expensive gas for me...

[BigMike]

http://www.youtube.com/watch?v=MlfmvwxxgHM

http://www.youtube.com/v/MlfmvwxxgHM?fs=1&hl=en_US

[Wermz84]

Interesting.


I still wonder why we subsidies to the gas companies. Any input on this?

[brockbuilt85]

thats funny wermz, i was having a conversation with one of my delivery drivers today about subsidies to oil companys, and why there wasnt many for sources such as solar and such. im guessing is that oil companies are just soo deep in everyones pockets.

[brainlessfool]

now when I see this thread I think WHERE?!! $4.10 reg. down the street from me. 

[abnormaltoy]

I just paid 3.29 for regular. The gas prices are the only thing I like about Tucson.

[Rocksurfer]

With the prices going up and up soon you will come out hop in your car, drive down the street and have it stall since someone took your gas. High/raised vehicles such as trucks and 4x4's will be prime targets since like cat converters the tank has easy access. They don't bother syphoning anymore they just punch a hole in your tank. It has already started to happen.

[1981_toy]

its 3.89 here in oroville

[abnormaltoy]

They don't bother syphoning anymore they just punch a hole in your tank. It has already started to happen.

Everyone needs a really good skid plate/armoring for their tank.

[Rocksurfer]

There was a fleet of trucks that got hit, killed the whole business since they hit every single vehicle and drained them all.

[87hillbillyoter]

I just paid 3.29 for regular. The gas prices are the only thing I like about Tucson.

i hate you so much. its a dollar a gallon more here.

[abnormaltoy]

i hate you so much.

That was a hell of a good morning! 

[Rocksurfer]

Went up another 6 cents overnight, so that would now be 10 cents in less than two days and they haven't even hit us with the summer additives yet.

[BigMike]

Went up 8 cents overnight here in Fresno

[thegoofster21]

4.36 for diesel were i live cost me $139.00 to fill up my f-350

[KDXSR5]

Just filled up about a half hour ago. $3.20 for reg

[87hillbillyoter]

$4.39 here now for 87

[Rocksurfer]

One thing I do have to say, the cost of fuel has made my drive to work less conjested.

[BigMike]

One thing I do have to say, the cost of fuel has made my drive to work less conjested.

I heard recently that traffic fatalities last year hit an all time low since the 1940s. The highway patrol was bragging that there were only around 31,000 deaths in 2010 and that it hasn't been this low since the 40s.

YEAH, THAT IS BECAUSE NO ONE CAN FREAKING AFFORD TO DRIVE ANYWHERE ANYMORE! DUH GEEEZ GOSH!

[jrock]

$4.35 per gallon in Fortuna CA. I messed up and waited till morning to fill up. Last night it was $4.24 

[46&2]

Just filled up about a half hour ago. $3.20 for reg

Ok Todd you can stop reporting to this thread now

[91 ex-cab]

$4.39 here now for 87

You're telling me man, try driving from Auburn to truckee twice a week.

[1981_toy]

Its 3.84 here cheapest according to msn

[BUBBA]

I heard recently that traffic fatalities last year hit an all time low since the 1940s. The highway patrol was bragging that there were only around 31,000 deaths in 2010 and that it hasn't been this low since the 40s.

YEAH, THAT IS BECAUSE NO ONE CAN FREAKING AFFORD TO DRIVE ANYWHERE ANYMORE! DUH GEEEZ GOSH!

It defiantly isn't because people are getting better at driving.I know that first hand.It's because there are less cars for the idiots still left out there to bounce off of.

[BigMike]

Source: http://www.redding.com/news/2011/apr/11/bob-williams-who-will-stop-the-oil-speculators/

Who will stop the oil speculators?

Pain-at-the-pump is a malady now afflicting most Americans. We search for gasoline that is under $4 a gallon. This pain is only a part of the distress caused by rising fuel prices. Rising crude oil prices raise the costs of gasoline, diesel, heating oil and aviation fuel. This raises transportation costs for all commodities. This drags down or slows our economic recovery. But what is driving the rise in crude oil prices and what can be done about it?

Democrats and Republicans in Congress have fallen back on their standard positions. Democrats demand greater efforts toward conservation and renewable fuels. Republicans demand incentives for greater domestic oil production. But little has yet to be done about a major contributor to gasoline price increases over the past 11 years, oil speculators gone wild.

There was a time when oil speculation was not a major contributor to gasoline prices. Supply and demand did determined prices. The oil producer's cartel, OPEC, came into existence to control supply and therefore, prices. Today we read little about OPEC's decisions because they no longer control the rise in gasoline and diesel prices. Prices are set by oil speculators in the finance industry. Some analysts estimate that as much as 60 percent of the price of petroleum-based fuels is due to speculation. If so, how did this happen?

Oil speculation is rampant in the commodities futures market. According to the U.S. Commodity Exchange Act, "Excessive speculation in any commodity under contracts of sale of such commodity for future delivery ... causing sudden or unreasonable fluctuations or unwarranted changes in the price of such commodity, is an undue and unnecessary burden on interstate commerce in such commodity." The Commodities Futures Trading Commission (CFTC) was established to protect the futures markets against such distortions.

Prior to late 2000, the only companies involved in futures contracts were the end users who needed to lock in a commodity price they could plan for. Enron's Ken Lay pushed for relaxed regulation of energy futures trading. This was incorporated in the Commodity Futures Modernization Act of 2000, passed in the waning legislative days of 2000. This came to be called the "Enron loophole." It took futures trading in energy outside the regulation of the CFTC, and it enabled Enron to drive up electricity cost to Californians as much as 300 percent.

Also in 2000 a new commodities trading exchange was established in London, the Intercontinental Exchange (ICE). This is owned by American investors and based in Atlanta. In early 2006 the CFTC permitted ICE, the leading operator of electronic energy exchanges, to use its trading terminals in the United States for the trading of U.S. crude oil futures. The CFTC chose to exert no regulatory jurisdiction over ICE. This exchange has made untold billions by unregulated international derivatives trading in oil futures.

Dan Dicker, who wrote the book "Oil's Endless Bid," estimated that the financial market for oil is 15 times greater than the amount of actual oil being traded. CBS' "60 Minutes" quoted hedge fund manager Michael Masters to the effect that, in 2007, 27 barrels of crude were being traded every day on the New York Mercantile Exchange for every one barrel of oil that was actually being consumed in the United States. Both of these figures are measures of how many times speculators buy a shipment of oil before it reaches its true market. This ran crude oil prices to over $140 a barrel before the economic collapse of 2008.

To correct these abuses, Congress passed the Dodd-Frank Act in 2010. This act contained provisions to bring energy futures trading clearly under control of the CFTC to correct speculative abuses. The implementation rules are being crafted by the CFTC now. The 60-day comment period from the public ended March 28. These rules are not finalized or published and may be weaker than Congress intended.

Big players in oil futures trading include Goldman Sachs, Morgan Stanley, Citigroup, JP Morgan Chase and numerous hedge funds. These are some of the same powerful players who helped bring on the economic meltdown we've yet to recover from. It's not clear that the CFTC will face them down. Oil speculation is again driving gas prices up. One CFTC commissioner, Bart Chilton said, as reported in the Oil and Gas Journal, "We have more speculative positions in commodities markets than we have ever had in the past — in fact, they are up 64 percent in the energy complex from June of 2008." This is, again, a speculative bubble. The CFTC has the authority to correct it. The real question is, do the commissioners have the backbone?

Bob Williams is a Millville rancher and a retired UCLA professor. His e-mail address is [email protected]

OHHH man I hope this new Dodd-Frank Act can do something soooooooooooon!!!!!!!!!!!!!!!!!!!!!!!  

[abnormaltoy]

What possible effect could a US law have on the majority of traders/speculators in the world? Seems short-sighted on Congress' part...although that shouldn't surprise anyone.

[Zs Confederate Toy]

4.36 for diesel were i live cost me $139.00 to fill up my f-350

I remember when we could fill up our F650 for $100. Thats 100 gallons of diesel.
Diesel is $3.86 here and Gasoline is $3.59
I filled up the 85 today, it cost $50 even and that was after my $.10 discount