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US gasoline rises above $4 a gallon for first time


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The U.S. average price for a gallon of regular gasoline topped $4 for the first time, a survey issued on Sunday by the travel group AAA showed.

 

AAA's survey showed a national average price of $4.005 per gallon, up from $3.67 a month ago and $3.10 a year ago.

 

Average national gasoline prices had stabilized last week before Thursday and Friday's spike of U.S. crude oil futures by $16 to a record above $139 a barrel. Friday's one-day gain of $10.75 for crude oil was the biggest daily gain in history, and Thursday's gain was the second biggest.

 

http://uk.reuters.com/article/newsOne/idUKN0852227520080608

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Recession is going to be our ONLY medicine.... it will let the bulls know of what they have done... and it should cut demand...global recession would really drop the prices.

 

Interesting to see what Wash does after the recession is "officially" announced.

 

By the way IMO 6.00 gas could trigger a depression.

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I would almost think so GO CATS, the more the gas prices rise, the less people will want to travel. The less people will want to spend money in general on many things because they now have to budget a much larger portion of their earning on filling up their tanks. As John Anthony stated, we could be making our way to an economic depression...and that is not good for us at all.

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I would almost think so GO CATS, the more the gas prices rise, the less people will want to travel. The less people will want to spend money in general on many things because they now have to budget a much larger portion of their earning on filling up their tanks. As John Anthony stated, we could be making our way to an economic depression...and that is not good for us at all.

 

I feel you but I would rather be in an econmic depression than blown up any day!

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I feel you but I would rather be in an econmic depression than blown up any day!

 

I would agree...but this might sound a lil radical. However, I don't honestly feel like terrorism is as much of a problem as the general public feels that it is. You can thank the media for that...just a lil opinion.

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I would agree...but this might sound a lil radical. However, I don't honestly feel like terrorism is as much of a problem as the general public feels that it is. You can thank the media for that...just a lil opinion.

 

I would agree to a degree! IMO, the isue of terrorisim has to be front and center, if we let our gaurd down it could easily mean disaster...

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Oil speculators deserve a bullet through the head.

 

If any BGP members engage in that dastardly profession, get out now while you still have a soul.

:lol: Speculators have every reason to be bullish on the price of oil given our do nothing Congress. I will blame the depth of the coming depression on Congress, but the gasoline prices will probably drop as a consequence and Congress will quickly take credit for "getting tough" with big oil.
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:lol: Speculators have every reason to be bullish on the price of oil given our do nothing Congress. I will blame the depth of the coming depression on Congress, but the gasoline prices will probably drop as a consequence and Congress will quickly take credit for "getting tough" with big oil.

 

 

I'd still prefer the whole lot of them be drug out into the streets and beaten over the kidneys. Scream capitalism and free market accolades all you want, but the votes for the deregulation that allowed this market manipulation to go on was downright criminal. A few more choice recipients of a beating …

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I'd still prefer the whole lot of them be drug out into the streets and beaten over the kidneys. Scream capitalism and free market accolades all you want, but the votes for the deregulation that allowed this market manipulation to go on was downright criminal. A few more choice recipients of a beating …

 

I cannot agree more, these people terrorize the market to make profits. Most make well over 6 digits a year and will continue to terroize us until someone stands up to them.

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