How much are you paying for fuel?

I paid $2.49 for 93 octane this weekend in upstate New York.
My friend had a $50 fill-up in his SUV Saturday.

 

Today 1,169 € per liter 95 octane, makes 4,42 € per gallone. €-$ exchange rate is 1 - 1,1944 today.

5,28 $ per gallone.

 

It's no wonder gas prices are higher than usual right now...anyone notice whats going on in the world energy markets!!!!......take a look at crude....a pipeline explosion...crude up $1.50....head of governing committee in Iraq executed....add another $0.50..etc etc etc.

Nymex crude closed at $41.55 a barrel yesterday which is an all time high...all-be-it not adjusted for inflation. The last time crude prices were this high was in the 80's when, on an inflation adjusted basis, crude was $87/brrl (Iran Rev.).....see a pattern here!!

I'm afraid crude can go a lot higher when one looks at both technical and fundemental analysis....watch gas go with it.......what's even worse is how the market for natural gas has doubled in the last year. Until we see some stability in the world energy market don't expect a reduction soon. A short term remedy could result from Bush releasing some of the strategic reserve .....quite likely given an election year.

Having said all that......look at the price of gas in real terms over the last 15 years.....its a wonder its not higher, even without the current "war premium". Yes the oil companies are creaming it, but the market dictates the price.

...one other point...I trust all you guys in the UK are basing you calculation on a US Gal being 20% less than a UK Gal?

Cheers!

 

$2.59 for 91 octane and 4.19 for 100 octane.

Just passed by a Shell at the corner of Valparaso and El Camino Real in Menlo Park, CA and their 87 octane was $2.39, 89 Octane was costing an ARM and their 91 octane was costing a LEG! What a joke!

 

And this inserts a huge push towards inflation inside the economy which has so many products based on oil consumption including plastics, paint, chemicals,.....

Its not just gas that is going to go up, its just that gas has a shorter lead time.....

 

Texaco $1.99 for 87 octane. Get this, across from me full service was $2.99 for 93 octane. Scary

 

After leaving Road Atlanta, I filled up the 328 at a BP station near I-85 at $2.07.9, and the fillup was $29, the most I've ever paid in the U.S. The upside is that on that tankful the gas mileage was 17 mpg (mix of city and highway) which was better than the first tankful. I'm guessing a long trip on the Interstate would yield about 20-22 mpg, not bad for a Ferrari.