$2.29 for DIESEL in Denton TX which is about the same as unleaded premium here. You get more diesel from a barrel of oil than gasoline. It's cheaper and easier to refine (basically you just strain out the dinosaur bones ). Why is it more expensive than regular gas? I read that oil companies are shipping it to Europe because they can make more money for it there. Get ready for some inflation because everything you buy travels by a diesel truck at some point. I'm not a disgruntled trucker, I drive a diesel VW and always get over 40 MPG.
I have read an article that suggests that Wall Street is overestimating future oil prices and that has something to do with it. I believe that Goldman Sachs issued a report that suggested that the price of a barrel will get into the $100s. The article also suggested that there is an oil surplus as well and prices should eventually come down. I have no idea how credible the guy who wrote it was though. It did sound a bit like wishful thinking.
Today Reg is $2.24.. We are getting ripped. I just got back from Brisotl race. Gas in Knoxville Bristol was averageing 2.09 2.12.. There is a Jackson Tenn gas cartell going on.. The rich get richer,
An important observation by Mort. I heard some talking head on TV last night advocating a $2.00 a gallon cap on gas prices. Something like that would most certainly guarantee long lines at the pump, just like in the 70's.
Jumped yesterday in St. Louis. In the morning most places were $2.14 to $2.18 but by the end of the day I saw $2.29 to $2.39. Found one last station at $2.14 and filled up.
Glad to be driving a small car that gets 30 mpg and not an SUV that gets 1/2 of that.
It's the price on futures that is stabilizing, meaning we won't see any real effects at the pump for a little while. As long as demand remains high, there is no reason for gas prices to drop greatly out of the blue. People so far have been unwilling to change their driving habits and driving means.
Here in New Jersey I just filled up for $2.04 a gallon. Gas tax is about the only tax we get a break on here in the land of taxes.