Gas Prices

I was just thinking, if and more probably when war breaks out... how high do you all expect gas prices will rise this time... If I am not mistaken gas prices are up about 52% from last year. ie $1.54 per gallon U.S.
Do you think they could rise to $3 or $4 per gallon...especially if Sadam is losing and decides to blow up Iraq's oil fields.
Thoughts...comments???

IN FRANCE 1 liter / oil cost already 1.50 Euro
Take Trains.


[Edited on 3-2-2003 by Nans DESMICHELS]

Gas prices went up during the first Gulf war then leveled back off.

I think I paid $1.46 a gallon yesterday when I filled up. Right now, because of Venezuala, war speculation, and because it's just been darn cold out for quite a long period of time, gas is quite high in my area. It will probably rise in the event of war - regardless anything related to production and rather the nature of the market. Some stations were charging $5 a gallon on 9/11 - I remember some gas stations publicly apologizing then offering refunds to anyone that bought gas when they were raising the prices.

If everything goes well in Iraq, it 'may' cause prices to go down because the world will have access to their oil - any new regime will probably be happy to sell large amounts of oil to make money, and make it fast.

If Venezuala gets their act together, we drill in Alaska, and buy Iraqi oil life would be good - I commute 60+ miles a day

I'm sure that if it gets close to $2.00 a gallon, you'll see a release from the Fed Reserves...to try and keep it under that mark. There's much more involved than just how much it takes to fill our tanks. There's also the entire shipping/trucking industry, etc. and it directly affects cost of goods, etc. With a drastic increase in gas prices, you'll see a drastic increase in prices across the board, and that just isn't good for a recovering economy. Thus, I doubt it will get as high as you may think...

You guys have it too easy!!

I am paying at least 95c per litre here. Sorry I don't know the gallon to litre conversion. Change to METRIC you yanks! snicker

I know that's a hell of alot more than you guys are paying for it anyway. I am sure those kiwi's would be hurting as well.. Chook how much is it over there?

Chris