$2 A GALLON ALERT!

[streetsoldier]

$1.65 regular unleaded here in the Bootheel...highest we've ever seen.

But, there may be a "bright side"; somewhere I heard that US petro fields have been authorized to take more "home-drilled" and put it into the market...and God knows we can use the royalties!

[weatherlover427]

That's like what it is here too. Luckily I also use mainly public transportation (and my bike).

[ColdFront77]

I hear (from my father) that the price for regular is just over $1.70 in this immediate area.

[coriolis]

I'd say that gas is still a bargain compared to the cost of living. If gas was $1.00 a gallon in 1975, 25 years of inflation at 5% would put it over $2.50 a gallon today.

Maybe I'm naive, but I don't see a large conspiracy. There's the issue of "botique" blends because of varied state emissions standards.

If the price goes up then domestic production (more expensive to extract) will increase, and the use of alternate fuels (gasp-coal) will increase.

[azsnowman]

$1.65 regular unleaded here in the Bootheel...highest we've ever seen.

But, there may be a "bright side"; somewhere I heard that US petro fields have been authorized to take more "home-drilled" and put it into the market...and God knows we can use the royalties!

Now then, when they crank up the oil fields here, it puts money into VP Cheneys pocket The company he owns (I'll ask my father again, he worked in the oil fields in Texas EONS ago) has to inspect every single oil rig in the CONUS, GOM and Alaska before they can *go online*. I got into this discussion with my father last Sunday over a beer, came home, pulled it up on the net and about blew my top I'll do the research again later today and post it!

Dennis

[ColdFront77]

I'd say that gas is still a bargain compared to the cost of living. If gas was $1.00 a gallon in 1975, 25 years of inflation at 5% would put it over $2.50 a gallon today.

Maybe I'm naive, but I don't see a large conspiracy. There's the issue of "botique" blends because of varied state emissions standards.

If the price goes up then domestic production (more expensive to extract) will increase, and the use of alternate fuels (gasp-coal) will increase.

Ed, $2.50 is two and a half times more than $1.00 not 1/20th. I believe I understand what you're doing. A 5% per year for 25 years is $1.25, which would actually put the price at $2.25, not over $2.50 a gallon today.

In any event, I believe most people believe it should be between $1.40 and $1.90 generally speaking, which makes sense.

[BEER980]

I would think you need to do it for every year to be compounded right. $1 X 1.05 = $1.05 then $1.05 X 1.05 = $1.1025 then $1.1025 X 1.05 = $1.157625 etc. I could be wrong though but it would give a higher ammount.

[HurricaneGirl]

I paid $1.72 this morning at the Hess Station!

[stormraiser]

Good for you Mary. That would be a sale in my neck of the woods

[Lindaloo]

I parked my SUV about a month ago. It will sit there until the prices come down. Cost me almost 60 bucks to fill that thing up. No more.

You can blame OPEC for the rise in gas prices. They decreased production a few months back. Now they have upped production to stabilize the prices. Got us right where they wanted us.

[TexasStooge]

$2 a gallon?

I smell a rat!

[coriolis]

Tom, my method was 1.05 to the 20th power, yielding a factor of 2.65.

[ColdFront77]

I would think you need to do it for every year to be compounded right. $1 X 1.05 = $1.05 then $1.05 X 1.05 = $1.1025 then $1.1025 X 1.05 = $1.157625 etc. I could be wrong though but it would give a higher ammount.

The word "compounded" came to mind while I was responding yesterday.

Tom, my method was 1.05 to the 20th power, yielding a factor of 2.65.

Sure, Ed that's another way to do it.

All three ways sound logical.

[GalvestonDuck]

[Guest]