$105 oil

[igo]

So what is causing the price of oil to rise so much? I will throw out a few reasons.

-Inflation is getting bad and the stock market isn't looking so hot right now. Gold, sliver, and oil prices are going up because investors consider them safer then the stock market.

-Increased worldwide oil demand. There has been actually a decrease in gasoline use in the US recently which is pretty amazing, but I assume that isn't the case everywhere.

-Anytime any little negative oil production related thing happens investors freak and the price goes up.

-Peak Oil???

[igo]

So, oil is up to $115. Three days in a row with record highs!

Fill up when you get a chance because I would bet higher gas prices are on the way. Well it might be too late by now.

[Lazarus]

Originally Posted by igo

So, oil is up to $115. Three days in a row with record highs!

Fill up when you get a chance because I would bet higher gas prices are on the way. Well it might be too late by now.

How far out is that? We jumped a nickel at the pump today.

[boxchain]

I coasted into the gas station today to fill up and I saw the price went up 10c overnight and I left. I think I have another 50 miles left in the tank which should be good for at least the weekend. Maybe I screwed myself but for some reason couldn't bring myself to fill up when there was still perfectly good gas still in the tank.

[Lazarus]

Originally Posted by boxchain

I coasted into the gas station today to fill up and I saw the price went up 10c overnight and I left. I think I have another 50 miles left in the tank which should be good for at least the weekend. Maybe I screwed myself but for some reason couldn't bring myself to fill up when there was still perfectly good gas still in the tank.

You probably cost yourself another 10c but yea every time I drive by the station it changed from the day before.

[dremd]

Subscribed.
I've got to finnish up my loose projects so I can get the apple seed up and running.
I'm thinking about pouring about 20% SVO in my diesel now, I did 10% last tank.

[igo]

Day #4 for record oil highs (in a row)

So nearly a $2 jump to $117. Gasoline hit a new high too of $3.474/gallon for the US average. Up 9 cents in 3 days.

[igo]

Ok, just in case anyone forgot gas was $1.30/gallon and oil was $25 a barrel 6 years ago. It seems hard for me to believe how cheap gas used to be.

[LostCause]

Originally Posted by igo

Ok, just in case anyone forgot gas was $1.30/gallon and oil was $25 a barrel 6 years ago. It seems hard for me to believe how cheap gas used to be.

Take a look around and put what you see to memory. I suspect you'll be saying the same thing 6 years from now...~$3.474/gallon is cheap. Like Matthew Simmons likes to say: hey, it's only xx cents a cup!

We should make predictions on how high a barrel will go this year. I believe prices will peak at $160/barrel around Labor Day. Any other predictions?

- LostCause

[Arminius]

My predictions are always wrong, so I'll go along with you.

However, a couple of American and Europeans oil investors are predicting oil will go to $70-90 later this year (when? I do not know) before going to record highs, never to return for 20 years (no predictions were made after that).