Will gas prices skyrocket AGAIN?!?

[Kirby]

Oil boils to record high

Does this mean gas prices are going to go back up? Logic says they will, but then when has the oil market ever been logical?

From CNN:

OPEC said it cannot cool the market; cartel president says there's no additional supply.
August 3, 2004: 11:13 AM EDT


SINGAPORE (Reuters) - U.S. oil prices hit new record levels above $44 a barrel Tuesday as the head of OPEC said there was little the group could do to cool the red-hot market for the time being.

At 10:24 a.m. ET, U.S. light crude for September delivery rose 16 cents at $43.98 a barrel after reaching a high of $44.24 a barrel, the highest level since crude futures were launched on the New York Mercantile Exchange in 1983.

London's Brent crude climbed 33 cents to $40.30 a barrel, easing from a high of $40.45.

 

[MrElussive]

Well, if any good can come out of this, I hope that all the retards will stop buying H2's and Escalades and shit.
The world would be a better place without the H2.

 

[knightpitt]

I'm going to have to go ahead and say: that sucks

 

[bahnstormer]

yeah i'd hate to pay more than we do now, but at the
same time, we've got the cheapest prices there are...
so everything will come full circle eventually and prices
will go up to match the rest of the world...4-6 bucks a
gallon =\

 

[MrElussive]

Yeah we do have pretty good prices. I think it would really take a much bigger increase in gas prices for me to start complaining....gas is so worth every penny.

 

[Bryan330i]

Gas prices in Europe are some of the highest in the world but also consist of about 75% tax. To be fair we would need to look at what the tax pays that may offset a tax we pay in another area and on other stuff.

Average in the United States is ~32% or $0.62 per gallon at $2.00.

On the news here they said to expect a jump in prices for at least the next few months.

 

[epj3]

I pay a shitload in taxes.

Every year I register my car for about $80. Add gas taxes, toll roads, speeding tickets (I've been lucky so far) and just the fact that my (hard earned) money gets taxed when I earn it, and again when I spend it.

 

[theBMWenthusiast]

i pay alot for gas...dont remember exactly how much since my dad usually takes care of putting gas in the cars...but i heard on the news that hopefully by winter gas prices may reach like 1.40 since they are increasing production or something like that

 

[Chesty Bonds]

Well i'm from Australia and currently the price for fuel is around $1.16 per litre. Since i buy premium grade fuel for my car that means i usually have to pay in the vicinity of $1.25. Fuel is getting so bloody expensive so i reckon burn it all off in style and then when it runs out we will be able to say that we used it in the best way possible: In a BMW!

 

[tool fan]

Well i'm from Australia and currently the price for fuel is around $1.16 per litre. Since i buy premium grade fuel for my car that means i usually have to pay in the vicinity of $1.25. Fuel is getting so bloody expensive so i reckon burn it all off in style and then when it runs out we will be able to say that we used it in the best way possible: In a BMW!