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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Dos Equis on April 13, 2008, 10:33:56 AM
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>:(
Posted on: Saturday, April 12, 2008
Gas prices hit record high
Costlier than during 2005 shortage — and still spiraling upward
By Greg Wiles
Advertiser Staff Writer
Hawai'i's average gasoline price jumped to a record high this week, surpassing a mark set 31 months ago and increasing the possibility the statewide price will break through the $4 level soon.
The price of a gallon of regular rose 2.3 cents to $3.697 on Thursday, and diesel fuel also reached a new high with a statewide average price of $4.261.
The new gasoline price eclipses the old mark of about $3.684 a gallon, set in September 2005 after refineries shut down in the wake of hurricanes Katrina and Rita, according to data from the AAA's Daily Fuel Gauge Web site. The new high also comes just after the average price for a gallon of regular reached $4 a gallon Wednesday in Wailuku, a new high for Maui.
"I hardly drive now," said Carson Neves, a 21-year-old Kane'ohe resident who limits his trips into Honolulu because of prices and tries to find the cheapest gasoline when he needs fuel. The $5 fuel-ups he puts into his 2001 Nissan Sentra don't give him much these days.
"I just put in $5 the other day and it didn't reach a quarter of a tank," said Neves, who is in between jobs and tries to save money by sharing rides with friends.
Prices are tracking the rise of crude oil, which cracked the $100 mark in mid-February and reached a high of $110.87 earlier this week. Nationally, gasoline prices are reaching record levels and all three local markets tracked by the AAA have been increasing. More and more people are talking about $4-a-gallon gasoline soon becoming a reality nationwide, just as it has for Maui residents.
The previous statewide record of $3.684 was set on Sept. 18, 2005, because of gasoline shortages in the wake of hurricanes Katrina and Rita. At the time, the state was under a gas-cap law that set maximum wholesale prices based on prices in Los Angeles, the Gulf Coast and New York.
over a barrel
The current situation is different because the state no longer has the gas cap law and because gasoline is plentiful compared to September 2005. But the market has changed and crude oil prices now have a greater influence over prices at the pump.
Whereas there were questions just two months ago if statewide gasoline prices would hit $4 a gallon, that's less the case now, said oil industry consultant David Hackett, head of Stillwater Associates in Irvine, Calif.
"It will get to $4 if crude oil keeps going up," said Hackett, noting it takes six weeks or so for crude oil price changes to ripple through to the gas pump.
A barrel of West Texas Intermediate crude oil traded in the $50 to $60 range on the New York Mercantile Exchange in the summer of 2005. Since mid-February it has traded in the $80 to $110 range, according to Bloomberg L.P. data.
It remains to be seen how much more prices will rise in Hawai'i as the higher crude prices work their way through to consumers. Hackett said prices generally rise more slowly in Hawai'i because of consumer resistance to price hikes, but also come down more slowly after crude oil prices recede.
Statewide gasoline prices for regular have risen by about 67 cents in the past year and Hawai'i's average gallon of diesel fuel has gone up 76 cents in the past 12 months to a record $4.261.
Wailuku has the highest price of the three markets tracked by the AAA, with a gallon costing $4.004 Thursday. It was the first city or county in the nation to hit $4 a gallon, according to the AAA.
On Lana'i, it's $4.71
But that's not the costliest gasoline in the state. Oil Price Information Service, the data provider used by AAA, doesn't track prices on Kaua'i, Moloka'i or Lana'i.
Yesterday, Lanai City Service reported selling regular for $4.71 a gallon, while Rawlins Chevron Service in Kaunakakai, Moloka'i, said its regular was going for $4.36.
The Kukui Grove Self Service station outside of Lihu'e reported regular at $3.799 a gallon.
In Honolulu, the average price for regular was nearing its record, having risen to just 0.002 cents beneath it. The AAA reported the average price was $3.592 for O'ahu drivers.
Hilo's price was higher, but not as close to a new high. Its $3.705 average was less than the $3.773 high reached in September 2005.
The automobile club's data shows Hawai'i's statewide average is still lower than California's, which leads the nation with an average regular price of $3.767.
That's little solace to Neves, who thinks twice about driving to Honolulu, given his limited gasoline budget.
"I don't leave (Kane'ohe) town unless I have more money."
http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080412/NEWS09/804120335&referrer=FRONTPAGECAROUSEL
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Gas was $1.19 in 2001 when Bush took office.
You can point to anything you'd like... but did gas triple under clinton?
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Show me an economy car that isn't ugly and I'm there. I have a 93 Bronco 5.8 that I drive into the city so I don't ruin my Stang... 10.5 mpg.
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Gas was $1.19 in 2001 when Bush took office.
You can point to anything you'd like... but did gas triple under clinton?
Just get used to it. $4 a gallon, that's what it will be. Those days are long gone. Good bye. SUV's! Dam I have a Escalade! :(, But i buying another car this month ;D. The gas saving will cut my payment in half lol.
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Just get used to it. $4 a gallon that's it will be. Those days are long gone. Good bye. SUV's! Dam I have a Escalade! :(, But i buying another car this month ;D. The gas saving will cut my payment in half lol.
we pay almost us$6 x gallon and this is not usa nor europe! its spiccity :)
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we pay almost us$6 x gallon and this is not usa nor europe! its spiccity :)
spiccity?
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"It’s affecting everyone. Last night Lindsay Lohan got drunk and walked into a tree"
Bill Maher
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spiccity?
chile
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"It’s affecting everyone. Last night Lindsay Lohan got drunk and walked into a tree"
Bill Maher
;D
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we pay almost us$6 x gallon and this is not usa nor europe! its spiccity :)
Dont worry prices will drop as bush pushes us into the north american union and the amero currency is developed.. :)
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Dont worry prices will drop as bush pushes us into the north american union and the amero currency is developed.. :)
I doubt it. I think it plays to the Green's advantage for gas to be expensive.
In Michigan a bill was recently proposed to add a $1.50 per gallon tax on gasoline to pay for "green" initiatives.
Hell, Bill Clinton himself said that America's economy will have to slow down to fight global warming.
In a long, and interesting speech, he characterized what the U.S. and other industrialized nations need to do to combat global warming this way: "We just have to slow down our economy and cut back our greenhouse gas emissions 'cause we have to save the planet for our grandchildren."
At a time that the nation is worried about a recession is that really the characterization his wife would want him making? "Slow down our economy"?
http://blogs.abcnews.com/politicalpunch/2008/01/bill-we-just-ha.html
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i wonder if they'll drop gas prices right before the elections and give repubs all the credit?
lol... and will people buy it? hahaha
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I doubt it. I think it plays to the Green's advantage for gas to be expensive.
In Michigan a bill was recently proposed to add a $1.50 per gallon tax on gasoline to pay for "green" initiatives.
Hell, Bill Clinton himself said that America's economy will have to slow down to fight global warming.
In a long, and interesting speech, he characterized what the U.S. and other industrialized nations need to do to combat global warming this way: "We just have to slow down our economy and cut back our greenhouse gas emissions 'cause we have to save the planet for our grandchildren."
At a time that the nation is worried about a recession is that really the characterization his wife would want him making? "Slow down our economy"?
http://blogs.abcnews.com/politicalpunch/2008/01/bill-we-just-ha.html
First it will stay high until americans stop buying the amount needed. this a marker for the gov to see if we are ready for next step in the amero. Then it will drop and look like they saved us!! and food lines will be open and mexico and canada blend. 1st part maybe this year to reach crisis and bottom. Then 2-3 yrs to get the rest going for the unification of our countries.
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First it will stay high until americans stop buying the amount needed. this a marker for the gov to see if we are ready for next step in the amero. Then it will drop and look like they saved us!! and food lines will be open and mexico and canada blend. 1st part maybe this year to reach crisis and bottom. Then 2-3 yrs to get the rest going for the unification of our countries.
Damn. Something I actually agree with you on.
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Damn. Something I actually agree with you on.
Dammit i was having fun... >:(
;)
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First it will stay high until americans stop buying the amount needed. this a marker for the gov to see if we are ready for next step in the amero. Then it will drop and look like they saved us!! and food lines will be open and mexico and canada blend. 1st part maybe this year to reach crisis and bottom. Then 2-3 yrs to get the rest going for the unification of our countries.
So should i keep my SUV then? ;D >:(
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Dammit i was having fun... >:(
;)
LOL
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So should i keep my SUV then? ;D >:(
Actually yes. Just put it in the garage for awhile. We'll be kicking ourselves one day for getting rid of our comfortable cruisers. My new lincoln executive series, gets 20mpg tho with the v-8 so its ok.
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i wonder if they'll drop gas prices right before the elections and give repubs all the credit?
lol... and will people buy it? hahaha
They always do. >:(
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Actually yes. Just put it in the garage for awhile. We'll be kicking ourselves one day for getting rid of our comfortable cruisers. My new lincoln executive series, gets 20mpg tho with the v-8 so its ok.
Not bad, Julian.
Your socialist pimp treats you well. I hope you got it with a leather interior so you can wipe the bukkake stains off the seats.
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Not bad, Julian.
Your socialist pimp treats you well. I hope you got it with a leather interior so you can wipe the bukkake stains off the seats.
of course it has leather, the thing practically drives itself with the electronics. Of course i wouldnt know what buttcake stains are......you poor homo repug... :-[
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of course it has leather, the thing practically drives itself with the electronics. Of course i wouldnt know what buttcake stains are......you poor homo repug... :-[
Libertarian, Julian, I'm a Libertarian.
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Libertarian, Julian, I'm a Libertarian.
What a quaint little title you have, Ralph.
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Those Iraqi oil revenues should kick in any day now.
On the other hand, driving will end like it a began...an activity of the wealthy.
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Those Iraqi oil revenues should kick in any day now.
On the other hand, driving will end like it a began...an activity of the wealthy.
40 billion and counting.
Don't hold your breath.
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Could somebody tell me more about these fuel pills I've been hearing about?
I hear they could help improve the situation dramatically!
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Could somebody tell me more about these fuel pills I've been hearing about?
I hear they could help improve the situation dramatically!
Sure...and if you are not selling them you are missing the opportunity of your life hahaha ::)
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(http://www.jaguarenterprises.net/images/us-gas-heading.gif)
There are forces in this world that are bigger than us.
These forces will either crush us, ...or push us into success.
We can scream about the coming storm, ...or we can learn to dance in the rain. (http://www.jaguarenterprises.net/images/em/yipee.gif)
Catch The Vision
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Sure...and if you are not selling them you are missing the opportunity of your life hahaha ::)
Benz, I am saving this quote for posterity sake.
In the future, ...you can expect to be pwned and bombarded with endless "I told ya so's" ;D
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(http://www.jaguarenterprises.net/images/Tank.jpg)