Crude oil at new high just under $114; gas also at a record

[bluevoter4life]

Source: New York Times

NEW YORK (AP) -- Crude oil prices rose to within a penny of $114 a barrel Tuesday, setting new records as concerns mounted about global supplies. U.S. retail gasoline and diesel prices also struck new highs.

Traders honed in on a report by the International Energy Agency that said Russian oil production dropped this year for the first time in a decade. The report raised concerns about whether the key oil-producing nation will have enough supply to help feed growing global demand.

''In an emotionally driven market like we've got now, it just doesn't take much in the way of a headline to prompt a psychological response,'' said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Ill.

Light, sweet crude for May delivery rose as high as $113.99 a barrel for the first time on the New York Mercantile Exchange before settling at $113.79, up $2.03 from Monday's record settlement price of $111.76 a barrel.

Read more: http://www.nytimes.com/aponline/business/AP-Oil-Prices.html?_r=1&oref=slogin

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Don't even know if its worth posting these things anymore. The state of the American economy will never be the same thanks to **. Prices will continue to raise, wages will continue to fall, and soon enough, a depression will ensue. RIP: Economic Stability. 1776-2008.

[classof56]

1. Gas at a local station went from $3.49 to $3.54 a gallon this morning.

And that was during the hour or so I was doing my workout at the fitness club.

I'm not only old, tired and cynical, I'm just plain pissed. When I get past the knee issue that's got me in physical therapy, I'll begin to hoof it again. Did I mention how ticked I am??? And how much I despise ** and his evil minions?

Tired Old Cynic

[DebbieCDC]

2. Thankful for having bought a hybrid car in 2005

Best purchase I ever made. Also don't even drive it to work -- drive 2 miles to park & ride and take bus to work. I can make a tank of gas in the Prius last for a month if I don't go on a road trip. Every penny counts these days.

[Dr.Phool]

6. I bought my wife one for Valentines Day.

I filled it up last Sat., when I dropped some people off at the airport (a 45 minute trip). She drove it to work for a week, and I made a round trip to the airport again. It still had over a half-tank left.

[HockeyMom]

3. First, we said $4.00 a gallon

Hogwash! Can anybody say $5.00 a gallon?

I just filled up an hour ago at $3.45, which was the cheapest I could find. What has happened to CITGO? They are now the most EXPENSIVE around.

[hatrack]

4. 21 cents more to reach the long-awaited Triple Yergin benchmark!

Yee-hah!!!!

[katty]

5. don't drive my mechanical horse on weekends-ridin' the bike

somewhat of a $ break.

[Cresent City Kid]

7. My problem is solved, sort of

My gas usage went way down when I was laid off. I'll have to go out out and find a job soon, so it's only a temporary relief. Because of the unusual length of time my car has been idle, the price difference between my last fill up and my next one will be significant.

[mnhtnbb]

8. Just filled up my 2001 Beemer --which uses premium--$52 bucks!

I group all my errands; walked to the post office today to mail tax returns; work at home. I usually
get by with filling up about once every 2-3 weeks. I don't know how people who have to commute 30-60 miles a day to work can do it.

[AndyTiedye]

9. Most stations here in CA are Charging $3.89-$3.95 for REGULAR

[mnhtnbb]

10. Makes the $3.55 I paid for premium a deal, no?

[dkofos]

11. And let me guess, The dollar is at a new LOW.

[bluevoter4life]

12. More or less

The Dollar is currently trading almost 2:1 with the pound and 1.5:1 with the Euro. Unfortunately, there is no light at the end of this dark, dark tunnel

[ohio2007]

13. Third and second world countries are on the brink of collapse but go under the radar by the MSM

They also have to get around ways to pay at the pump as does the biggest "developing country" in the world.....

[roamer65]

14. I hope it goes much higher.

Oil is worth every penny of $150-$200/bbl. It's a finite resource. US dollars are not.

[DemocratInSoCal]

15. Agreed

This will be the straw that breaks the camel's back. In the end, they'll try to blame it, as opposed to all the other BULLSHIT that they've been pulling, for the demise of the U.S. economy.

If they can't keep the price under control, they're in big, big trouble, as are we. But if this is what it takes to WAKE SOME PEOPLE THE FUCK UP, then I welcome it.

And I'll love being able to smile at those big GAS GUZZLERS, and wonder why they're still Zipping & Racing down the road, like the price of gas was no big deal.

[corkhead]

16. I have already been hearing that it is the fault of the "Democrat Congress"

who caused the economy to tank as soon as they took their majority role at the beginning of 2007, which was when our booming economy started to falter according to this 28%er.:crazy:

[wishlist]

17. I'm willing to bet it will come down at end of summer, before election

My guess is that oil companies do not want Dems to control the White House and Congress and will scale back the prices a couple months before the election to pacify the electorate. If John McCain's proposals to not add any more supplies to the strategic reserve and suspend Federal Gas Tax through the summer takes effect, he will be credited with reduction in gas prices before the election. Then the prices will jump back and resume the upward momentum.

[Javaman]

18. up to 3.29 here in north Austin. jumped 6 cents over night. nt

[Summer93]

19. Gas price website

This site has the local gas stations and low and high prices each day as reported by people who go there.

They have an interesting chart by county of the U.S. which is color coded.

http://www.worcestergasprices.com/price_by_county.aspx