Mexico (Pemex) just posted a -9% decline in production in the first 4 months of the year. Expected to become an oil importer within 8 years.

ANWR will take 6-10 years to before we get any production, if we started today. It is such a tiny amount of oil on the world market it will equate to less than a 1% decreaase of market oil price.

We do need to start on ANWR since the Prudhoe bay fields are decling to the point that the Alaskan Pipeline will need to be shut down. It has a 300K barrel a day Minimum Operating Level (MOL). Current production is about 400k bbld, with 11 billion barrels produced of the 13 billion barrels estimated of ultimately Recoverable Reserve (URR).

People need to get educated about the vast requirements of the oil industry to supply the world with oil. Educated about the numbers, not the rhetoric.

Why is our oil under their sand anyway?

 

$4.09 Exxon 93 100 miles to your north in Austin.

 

Saw 4.57 at the Chevron yesterday .

 

Just went up to:
$4.59 for 93 here in CT

 

Not sure what some people in parts of the country do. On our trip we were unable to find anything more than 87 octane. Granted we were driving at 6,000 ft. and above the whole time but premium was simply not to be had, and the premium that was sold was only 89 octane. Not much to do but put less than 91 in. I don't think they've ever seen higher than 87 in my hometown. A result of living at 8000 ft. I think. The MINI loved it though, got the best gas mileage I've ever had.

 

If you want to feel better, Venezuela is up to 12 cents a gallon.

 

Where I live, it's really, really hard to find gas above 91 octane. I've been hearing that the altitude at which you operate the vehicle really makes a big difference on the fuel efficiency. I've never really followed how all of that works, but I do live in the mountains and all this talk I've seen of 93 Octane has me truly disturbed . I had no idea there was such a thing.

Paid 4.11$ for 92 today and gas in my part of the state is cheap right now for some reason. Gas in Seattle and Tacoma for premium was around 4.40$ at some places we stopped.

 

$3.99 this last Sunday.

 

$4.04 at Amoco/BP yesterday............sigh..............glad I drive a Cooper!

 

i drive a cooper too...

but at $4.27 yesterday, it still hurt

 

I filled up on friday at the BP station--$4.19 for 92.

It just keeps going up and up.

When will it stop???????

 

Today in Upstate NY- $4.03 to $4.10/gal. for regular. Can't wait to get my Mini because the Blazer I have now costs a small fortune!

CT prices are WAY out of control! Lets drill for oil in our backyards ... then the gouging will stop!

 

IMO prices are still way to cheap to affect real consumption pattern change.

 

Likely won't. We're using more oil than they're refining and it's been that way for a while now. I don't expect to see any price reduction until gas gets well into the $5 a gallon territory.

Diesel at the station down the street from my houes is $5.05 a gallon. I feel bad for truckers and people who decided to buy diesels to offset the high gas prices.

 

Agreed. A study about a year ago by some economist said $5.50 was the breaking point for gas per us gallon.

We are actually lucky that demand has been as low as it has for gas, it is being sold at quite a discount by the refiners. Who are only running at 85% and are loosing their shirt in the crack spread if you look at their stock prices.

It is the crude price and diesel that is stretching the market. You cannot refine crude into just diesel or just gasoline, in the typical american refinery is a 3-2-1 split. 3bbls of oil become 2 pts gas, 1 pts distilate (diesel) in generic terms.

Don't just get mad, get informed people.


Why is our oil under their sand?

 

$4.23/gallon - Lake Forest, CA

 

Sad..I felt so lucky to be hitting $49.79 or so for all the fillups until tonight--where I finally broke past $50 and hit $53 for 12 gallons.

 

Wow was I lucky, I found a shell station that sells v-power 93 octane at 4.1599 versus the 4.2999 I normally buy from. Score.

 

BJ's ( a big box store like Costco) has discount gas. I paid $4.03/gal. for 93 octane.
When will it stop? my guess is ..never. Be prepared for $5/gallon by the end of the summer, if not sooner.

 

katie.....dont remind me

 

sorry

 

We paying $1.65 per litre...

Thats roughly $6.95 gallon....

 

Filled up my Alero yesterday, first time ever to put $50 of gas in the car. Regular was $4.109 and since I am starting to keep an eye on premium (Mini soon to be here!) I noticed it is up to $4.309. Not sure how much prices will drop after the "holiday weekend" and even then it seems to only ever go down c. $0.10. Heard a report on the radio today that last night there was a "friendly gas war" in the town that I work, prices around $3.48 at two stations and cars were lined up and waiting upwards of half an hour and causing traffic backups waiting to get gas...

 

I've heard it said numerous times that Europe has always had way higher gas prices and we shouldn't complain but as Americans we are also used to being spoiled like that I guess. I drive 35 miles to and from work each day- 70- miles a day and pay roughly $90/ week now just in gas compared to the $55/week it was about a month ago. Just also picked up a part-time job one day a week to help save for my MINI. Gas=Ridiculous.

 

$67.41 this morning to fill Sheamus up with Shell V-Power. Be glad you live south of the 49th parallel.