Gasoline Prices Hit $3 a Gallon Nationwide

[UpInArms]

Source: Reuters

Today, the national average price for a gallon of gas has risen to over $3 a gallon for the first time since October, 2008, when it felt like the bottom had just dropped out of the American economy.

According to the AAA Fuel Gauge Report, the price for a gallon of gasoline nationwide hit $3.013. California once again has the highest gas prices in the Lower 48 states, hovering at about $3.27 a gallon. In total, 26 states plus the District of Columbia have gas prices exceeding $3 a gallon, while Colorado has the lowest average gas prices, about $2.75 a gallon. The rise in gas prices coincides with a rise in crude prices, which recently topped $90 a barrel...another high not seen since October 2008.

As I remember it, gas prices used to go down in the winter, not up. While these prices are still more than a dollar off the 2008 peak average gas price of over $4.11 a gallon, prices are up 4 percent from a month ago, and 16 percent from the same time last year when the average price of a gallon of gas was $2.58. The chart above shows gas prices gradually climbing back to where they were two years ago, a scary prospect at a time when our economy feels like it is finally gaining traction again.

<snip>

Merry Christmas and Happy Holidays from fossil fuels!

Read more: http://www.reuters.com/article/idUS362335257920101224

[tabatha]

1. They have been more than $3 for a while here.

[Andy823]

6. Same here!

I live in rural Washington state and we have been over $3.00 since last spring! It's now up to $3.29, although I didn't notice when I was in town earlier if they had gone up or not!

[Demeter]

16. And Went Up a Dime Today Here

Merry F....Christmas

[Harry Hope]

2. Get rid of the car and get a bike

[CountAllVotes]

10. Assume you have done this already?

:hi: btw.

:dem:

[Le Taz Hot]

23. Great idea!

And when I have a severe asthma attack and collapse, I'll be sure and say "Harry Hope" suggested I do this. Are we getting a clue yet?

[lfairban]

25. Clue? About what?

You might want to look at e-bikes. 300-750 Watts of motor can double your energy and provide up to 80% of your power. I am in my mid-50's, smoke way too much, and love my e-bikes. For short errands, they can't be beat!

You know you are an ebiker when:

Someone starts bitching about the price of gasoline and you ask, "What is that getting up to now?"

Does anybody know where I can get a bumper sticker that says:

"My other bike is a Prius!"

[MrTriumph]

3. The Bush-Obama Weak Dollar Policy at work

[CountAllVotes]

11. the dollar is up as of recent

so lets look for another "reason" other than sheer greed.

[Bigmack]

12. Canadian dollar is at par with the US...

Australian dollar, too.

I think the dollar is fading.

[MrTriumph]

26. No, you are absolutely incorrect, friend. Please track the dollar v euro

and you will quickly see the Euro was originally pegged 1 Euro to 1 Dollar. The dollar has been significantly weak for about 3 years. Obama has simply continued Bush's Weak Dollar Policy.

Further, QE2, begun in late 2010, is a means to deliberately spur inflation (as a hedge against deflation)and has further eroded the US Dollar against a majority of currencies.

These efforts have brought minimal job growth while causing countless problems for the US. High oil is just one of the problem.

[Creative]

33. Correct; however, I'm not so sure you can blame this on either Bush/Obama.

After all, Helicopter Ben is the one that controls the paper and the ink.

[Creative]

34. Oil, gold and other commodities are worth what they are worth...

On the other hand, the $'s value is determined by among other things, monetary policy.

[theophilus]

4. I'm conflicted about this. I believe this is basically speculation

because the petroleum industry pretty much admits that prices are up on "anticipation" of an improved economy. Well, that's swell. So much for supply and demand. I'm sure the Saudis are ecstatic....they are "shooting" for $100 per bbl. I sometimes think that the government ought to step in and tromp on these speculators. This price hike will suck much of the surplus money out of people's pockets and slow, or stop, any recovery.

On the other hand, higher prices encourage people to get cars with better mpg (if they can afford them) or even electric cars (even more expensive). However, I will be shocked but not surprised if the Big Oil corps continue to suppress renewables while jacking up oil prices. People are just going to have to finally get mad and jump on these bums.

[Andy823]

8. Yes I agree.

It is all about "speculation", and now that the republicans are back in charge of the house, prices for oil have gone up! People driving at Christmas will have to pay more, and if prices stay this high, we can look forward to close to $4.00 a gallon next year!

I also agree that people who can afford to will buy cars that get better MPG's, but it seems that even when that happens, they just raise the prices higher to get the money back they lose because cars get better MPG! It's a no win situation, and until we can stop the speculation, it will never change!

[Spider Jerusalem]

19. Prices are up because the economy HAS improved in most places, actually.

And also because US domestic petroleum demand is up by 1 million bbl/day over December of 2009. And ALSO because there's unusual cold weather in Europe. It's NOT speculation driving the market. It's increased demand taking up the slack in supply and pricing.

[Javaman]

35. Yup. Krugman had a good op-ed on this.

the US doesn't set the commodity prices, it is set globally.

The demand is up, but not by us, but by China and India.

China's oil demand is currently 5% year on year. That might vary a bit, but not by much.

While I worry about peak oil, (oil production not meeting demand), I am more worried about China's long term ability to keep a hold on their inflation and value of their currency.

If China experiences the kind of recession/depression we are having, look out, it won't be pretty at all.

However, if China does experience a massive contraction, (India wouldn't be far behind) I would look at it as a great opportunity for the US. It could be just the thing to bring back manufacturing to the US. aka Jobs.

[InvisibleTouch]

5. Prices always rise on weekends and holidays.

Happy gouging from the gas companies!

[Andy823]

7. Yep,

We used to get a break in the winter, not not anymore! They can say all they want, but myself, I believe it's pure greed! They know they can get it, they know now the republicans are in charge of the house so the know there won't be any "regulations" to stop them from gouging, so they are going to do it, pure and simple!

[2Design]

9. price fixing by oil companies to make sure they make the same amount

cars get better mileage so we use less - so they charge more so their profits remain the same - has nothing to do with whatever the media wants to pretend it is

[pam4water]

13. They blew past $3.00 here and are at 3.139 now. It was only 2.899 only two weeks ago. N/T

[HomerRamone]

14. They didn't dare raise prices until the Gulf Oil Spill was "over" nt

[doc03]

15. Here we go again, once the gas goes over $3.50 congress will

call for hearings with oil CEOs. There will be a couple congressmen grandstand and insult and call the CEOs names. By the end of the summer when the prices start dropping again and the hearings are concluded nothing will be done. Since the Republicans gained control of the House they may just skip the hearings this year.

[truthisfreedom]

17. I call bullshit. I drove past a gas station that said $2.99 for unleaded.

*sarcasm*

[rasputin1952]

18. It went from $2.74 to $2.99 in three days our here...

I use E-85, and it's sitting steady as $2.48, (if I fill up from empty, I save $11) During the Summer, E-85 was at $1.78 gas at $2.58.

[unkachuck]

20. we are paying....

....for the Gulf oil spill and all future spills....

....these fucks won't quit....much of the world is in a global depression yet the oil monopoly is gouging at the pump....capitalism, don't ya love it?

[Lugnut]

21. $3.099 here today.

Northeastern PA. They've been near this level for over a month.

[orleans]

22. fucking oil speculators driving up the price again

they should be outlawed! this practice of what they do to drive the price of gas up should be illegal! why the fuck can't congress put a stop to this professional gambling?

chicago's western burbs: $3.15

[midnight armadillo]

32. Or rising demand...

China and India need oil. More competition for increasingly scarce resources = higher cost.

Get used to it, gas is only going up from here.

[Turbineguy]

24. Maybe many people are driving

to avoid flying.

[Odin2005]

27. Just hit $3 in Fargo over Christmas.

[opihimoimoi]

28. Hawaii......$3.55 for high test

[cory777]

29. U.S. gas price tops $3 a gallon, highest since Oct '08

Source: Reuters

WASHINGTON (Reuters) – The average price of U.S. gasoline rose above $3 a gallon over the past week, reaching its highest level since October 2008, the Energy Department said on Monday.

The national price for regular gasoline increased 7 cents from the previous week to an average of $3.05 per gallon, as rising crude oil prices bolstered fuel costs.

Crude oil settled down 51 cents at $91 a barrel on the New York Mercantile Exchange on Monday as a major blizzard in the U.S. Northeast cut down on already thin holiday trading volume.

Read more: http://news.yahoo.com/s/nm/us_usa_gasoline_price

---

Breaking Uncensored Activist News http://activistnews.blogspot.com

[Demeter]

30. And what Happened in October of 2008?

World-wide economic collapse...no coincidence.

[customerserviceguy]

37. That was when fuel prices were on the way down

Now, they're on the way up, and other countries' rising economies have driven that price up.

I've long said that if we ever get a full recovery, you'll be seeing pump prices of $5-6 a gallon.

[Posteritatis]

31. Can't help but eye gas prices in Nova Scotia by comparison.. (nt)

[Kablooie]

36. Up to $4.16 here in Los Angeles. A price that will be visiting you soon.