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Old 02-24-2004, 03:35 AM   #1
mr_disco
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Default anyone notice the gas price increase today?

Went up over 10 cents a gallon around here. The station near where I work went up for 1.87 from yesterday to 1.91 this morning, to 1.97 by 6 PM.

The Costco ran out of unleaded gas and was backed up. People were actually stocking up on gas anticipating another price increase soon.
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Old 02-24-2004, 03:37 AM   #2
Unit 91
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We were talking about this earlier. It's crap.
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Old 02-24-2004, 03:49 AM   #3
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FTW
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Old 02-24-2004, 03:51 AM   #4
wolf8314
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OPEC cut back production. In serious need of a alternate fuel
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Old 02-24-2004, 03:58 AM   #5
Christoff
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I payed $2.13 for regular today some places its around $2.20 ish.
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Old 02-24-2004, 04:19 AM   #6
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No ****. It's gone up .30 in 2months or so which is ****ing insane.
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Old 02-24-2004, 06:15 AM   #7
N/A
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I've paid $4-$5 a gallon for gas in Japan so the prices here don't scare me very much. Its also encouraging big ass SUV owners to come back to reality and buy something useful. Nothing like seeing SUV owners on the news complaining about how its hard for a working class person to afford gas to get to work and yet their standing next to their $40K SUV that gets 15mpg.
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Old 02-24-2004, 07:25 AM   #8
Kartoffel
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Enjoy it while you can.

Make sure your grandkids know about crop rotation, carpentry, animal husbandry, etc.
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Old 02-24-2004, 07:32 AM   #9
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I've been noticing an increase over the past couple of weeks. Up to $1.73 for regular here. Damn my rotary engine and 18mpg.
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Old 02-24-2004, 07:45 AM   #10
cavymeister
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Makes me glad I got the brake lights working in the honduh again... I get about 18'ish in the truck...
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Old 02-24-2004, 08:14 AM   #11
TimStevens
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Damn... almost stopped to fill up on the way in this morning. Figured I'd wait until after work. With my luck it'll be 2x as expensive this afternoon.

FWIW premium is about $1.93 - $1.99 a gallon 'round here.
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Old 02-24-2004, 08:21 AM   #12
LinuxGuy
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Maybe I should reconsider to buying a Jetta TDI...
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Old 02-24-2004, 08:31 AM   #13
JGard
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no. worst mistake ever, that would be.
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Old 02-24-2004, 08:35 AM   #14
wako29
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I read in the paper that gas is supposed to go up to like $3 by this summer. BTW, its like 1.50, 1.60, 1.70 around here.
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Old 02-24-2004, 08:37 AM   #15
TimStevens
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Quote:
Originally posted by wako29
I read in the paper that gas is supposed to go up to like $3 by this summer. BTW, its like 1.50, 1.60, 1.70 around here.
Did they say why, other than forecasting doom makes for good readership?
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Old 02-24-2004, 08:38 AM   #16
JGard
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yeah, and the past three summers they predicted $2/gal. Only last summer did it ever actually happen.
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Old 02-24-2004, 09:03 AM   #17
Kartoffel
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If gas goes over $3 per gallon I'm selling the WRX and getting a Caterham
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Old 02-24-2004, 10:48 AM   #18
bruticus
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It's not entirely "OPEC cutting production to be greedy." It's a reflection of the decline of the dollar. That is, the dollars that they get from selling us oil are worth less, today, than they've been in a LONG time. The dollars they get are worth less, ergo they want to charge more dollars to make up for it, ergo they reduce production to raise prices.

And there really isn't much the US can do about it except make good on all the "strong dollar" talk, stop saying that inflation (which is "too much demand, not enough supply") is our biggest fear and admit that deflation (which is "our dollars are worth less on their own merits because of our economic troubles") is here and it's a problem, and stop letting the Fed follow policies that clearly hurt the dollar internationally. Weak dollar may be good for import/export balance (makes US goods cheaper and more popular abroad; makes imports more expensive at home) but the concurrent damage in other areas is far, far greater. The US trade balance will worsen no matter what the gov't does (the recent months' numbers show this) because there will ALWAYS be cheap foreign labor SOMEWHERE to make stuff cheaper than we can at home.

We should accept this inevitability and take steps so that our currency is strong enough to be a useful tool in managing prices at home.

For about a century the dollar has been the yardstick by which nations judge/base their own internal Treasury status. They hold HUGE amounts of US bonds as a stable foundation for their own economies. I've read that several nations, alarmed at the decline in the dollar and the futility of recent efforts (particularly by Japan, Canada, and China) are considering offloading some of their US bonds and using something else in their stead. If that happens, it could start a trend of selling in the international market for US bonds, which would accelerate the problem more and more.

MSN Money's Bill Fleckenstein has written about the dollar's slide quite a lot recently (I cadged my post from his words), and his "what could happen" scenario gimme the jibblies.

DjB

Last edited by bruticus; 02-24-2004 at 10:54 AM.
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Old 02-24-2004, 01:40 PM   #19
Tedslowrx
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i think we invaded the wrong country saudi has alot more oil damn 2.13 a gallon
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Old 02-24-2004, 01:44 PM   #20
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yeah for Republicans!....way to benefit Big Business!

Market Manipulation
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Old 02-24-2004, 01:46 PM   #21
mr_disco
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Yep. Funny we still have a record trade deficit despite the weakest dollar in a decade or so. That's because it doesn't matter how low we go... we already exported our manufacturing jobs to China, Pacific Rim and Mexico.
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Old 02-24-2004, 02:01 PM   #22
imprezton
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Time to PM the mountain bike
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Old 02-24-2004, 02:32 PM   #23
Akirasoft
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I just bought a new bike sunday, so im all set I guess. I'm surprised this hasn't gotten more coverage in the mass media. No wait, no im not, but still, I'm not entirely sure I believe the Fleckenstein guy. His points all seem very valid, however there are conflicting sides of the arguement as well. I'm not educated enough to decide who is correct.
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Old 02-24-2004, 04:58 PM   #24
wako29
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Quote:
Originally posted by TimStevens
Did they say why, other than forecasting doom makes for good readership?
yea, becuase of the strange weather all year



also, if it goes anywhere near $3 a gallon, im gonna be driving my XL250 everywhere around town
HELLLLOOOO 40mpg
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Old 02-24-2004, 05:04 PM   #25
A4girl
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uh yeah, we noticed! $2.33 a gallon here, $40 to fill up my tank I told my mom I want a hybrid car....NOW!!! I can't afford this crap.
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