Dept of Energy: Gas Prices Will Jump .20 By December

Dept of Energy: Gas Prices Will Jump .20 By December

online.wsj.com

The U.S. Department of Energy's top forecaster expects gasoline prices to climb an additional 20 cents a gallon by December and said prices could go still higher if OPEC doesn't increase production.

Yesterday, the national average retail price for a gallon of regular gasoline was $3.10, according to the AAA, formerly the American Automobile Association.

(visit the link for the full news article)

Well, I guess this is expected since the U.S. is moving into it's winter time, prices are expected to rise.

The good news, yeah, there actually is some -- the Energy Dept head expects prices to calm down to $80 a barrel "later next year" and that's a speculation based on OPEC output.

online.wsj.com
(visit the link for the full news article)

It will go up .20 now. It will go up another .20 by Christmas for travel demand. Then it won't subside the remainder of the winter. Then when Memorial Day rolls around, it will jump up another .20 for summer travel season with the promise of subsiding at the end of summer. Only to have some disaster (hurricane, refinery problem, bombing the living hell out of Iran... etc) raise it another .20. Then back into winter to repeat the whole cycle again.

This sure is what it has felt like for the last few years to me.

We can either whine, or adapt.

Me? I've adapted. I now spend about $35 a month on fuel. Gas will have to hit $8 a gal before I'm spending as much as I was before.

Aside from the trickle-down effect on goods, bring it on.

CNN has been reporting that the jump in price will probably happen right before Thanksgiving travel.

I have been telling EVERYONE who will listen that prices would go up right before the holidays when travel would be expected and I would expect it to drop right after the new year and level off right before the summer. That has been the general trend for the last few years. Of course crude oil has not been this high per barrel either.

just curious - what are people paying to fill their vehicles these days? i was spending about $35/week. i'm pushing $40 now. we only go out once a week for grocery shopping and i try to work from home once in a while to save a day's commute (about 40 mi round trip).

Wanna take bets on 5 bucks before 08 elections??

I have said this since before the last election ended..

No news to me.