Gas prices break record - National Average up 20 cents a gallon

[RiverStone]

Source: seattlepi.com

CAMARILLO, Calif. -- Gasoline prices have surged to a record nationwide average of $3.07 per gallon, nearly 20 cents higher than two weeks earlier, oil industry analyst Trilby Lundberg said Sunday.

The previous record was $3.03 per gallon on Aug. 11.

But despite inventory fears that have sent prices higher, there are signs that the rising prices at the pump may be peaking.

Just two weeks ago, the U.S. average for a gallon of regular gasoline was $2.87, but the Lundberg Survey of 7,000 stations nationwide on Friday showed an increase of about 19.5 cents to $3.07. That's up 88.4 cents since Jan. 19, Lundberg reported.



Read more: http://seattlepi.nwsource.com/business/314642_gas07.html

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Talk about rage against the machine...

We are getting screwed at the pumps, while Exxon Mobil Corp just posted the largest annual profit in United States history!

From 2/1/07:

NEW YORK (Reuters) -- Exxon Mobil Corp. posted the largest annual profit in U.S. history Thursday, even though fourth-quarter earnings fell on lower natural gas prices and shrinking gasoline margins.

For the year, Exxon Mobil earned $39.5 billion, up from its previous record $36.1 billion in 2005.

more:

http://money.cnn.com/2007/02/01/news/companies/exxonmobil/index.htm

[ixion]

1. when california was being raped by Enron, we, as a nation stood by and

watched. Now it's happening to us, using the Enron playbook. Are we going to be so patient this time? :shrug:

[AndyA]

3. So far, it would appear, we are going to be every bit as patient.

I think there's an investigation into this, though. I think it's Waxman, but I might be mistaken.

If so, he's a very, very busy guy! But he's also a very capable guy.

[Bigmack]

2. Oil on the NY exchange is down to $61.09...

and Brent is down to $62.67... off $1.34. (at 9am PDST)

Sooooooo......

Those high gas prices should be coming down real soon.

(Deep, dark, oily :sarcasm: intended.)

[Roland99]

4. Late Jan. 2007 - $1.89 ... Late Apr. 2007 - $3.19

The oil companies mean to tell me that their costs have skyrocketed 70% in 3 months?!?!


BULL-FUCKING-SHIT!!!

[sakabatou]

5. So how's the economy doing?

Those gas prices sure are low! $1.03 is just too high...

[wilt the stilt]

6. Oil companies produce nothing

In reality this is a commodity. There is no long term benefit to the country. There is no intellectual property or value to these companies

[jaybeat]

7. Biodiesel is now cheaper than regular unleaded

Plus, diesel vehicles get better mileage anyway, biodiesel pollutes less, and the carbon released hasn't been in the ground for millions of years, and so doesn't contribute to climate change. (And *none* of the price you pay at the pump goes to Exxon, corrupt Saudis or Whabist-fanatic madrassas.

Plus, there are other benefits:

[Lance_Boyle]

16. where are you getting biodiesel so cheap?

It averages $3.50/gallon in central NC. Which is not bad considering I can go 40+ miles on each of those gallons. :D

[wordpix]

17. unfortunately, some of us have cars that burn gas, not diesel

:(

[Worst Username Ever]

8. Average pump price hits record $3.07 a gallon

Source: AP

CAMARILLO, Calif. - Gasoline prices have surged to a record nationwide average of $3.07 per gallon, nearly 20 cents higher than two weeks earlier, oil industry analyst Trilby Lundberg said Sunday.

The previous record was $3.03 per gallon on Aug. 11, 2006.



Read more: http://www.msnbc.msn.com/id/18522401/

[flamingyouth]

9. It's averaging $3.40 in Seattle.

[central scrutinizer]

14. same here in Eugene

[bamacrat]

10. $2.89 in Tuscaloosa, but that was around 11 am.

Who knows what it will be when I get off.

[Worst Username Ever]

11. I think we are about $3.00 in the Minneapolis area

Which, with the exception of the day after 9/11, is the highest I have ever seen gas (there was some doofus gas station down the block selling gas for 5 bucks a gal on september 12th 2001)

[BadGimp]

12. $3.64 for mid grade this AM in Los Angeles (ARCO)

Yesterday I filled my Harley up for $3.77 at a Unocal station.

$4.00 here we come!

[Eurobabe]

13. Pretty soon you'll be paying Eurozone prices...

welcome to the lunacy!

[liberal N proud]

15. I had one of my part time people tell me

that he couldn't afford gas in his car last week. Price here went to $3.29 on Friday, most places still $3.19

Lowest was $3.09

[wordpix]

18. $3.30+ in CT; a big deal is to find it at $3.21. Thanks for the screw, BigOil

[AndyTiedye]

19. Higher in ALL BLUE STATES Due to "Localized Refinery Conditions"