I have a receipt I paid $2.24 then the next one was $2.49 and now gas is 2.70, wth? Do any of you think we will see $4.00 a gallon (for 87 octane) again before the year ends? We had a lengthy discussion today at work on how high prices might get. One co-worker said it will be $4 again before we know it. We are ONLY speculating as none of us are in the oil profession. Any thoughts? I saw on gasbuddy that CA already has prices around $3.50.

 

I'm not expecting it to get that high unless a hurricane takes out production in the gulf of mexico, or there's some kind of major attack in the middle east.

 

As long as oil is a speculation spot market, It will go up and up. My guess is it will reach over $6.00 before the next presidential election happens.

The sad part is that since most of the road structure is paid for by gas taxes, and that historically it has always cost almost as much as gasoline costs. The fuel tax needs to be 50% of the price of fuel to pay for the road infrastructure. Popular - no. Needed - yes. The roads are not improving, all the quick fix done 4 yeas ago to the interstates here are starting to come apart (pot holes). We need to do what Germany does, Build roads by how many $/year it costs, not by lowest bid. We pay 3-5 times as much as they do for inferior quality roads in the long run.

 

Hard to say. If there are signs that the economy is really picking up during the summer, some regions could see $4/gal. If that coupled w/some major supply disruption (drilling shutdowns, refinery prob, pipeline prob, nut jobs like Ahmadinejad shooting at ships going thru the Strait of Hormuz or problems at other oil chokepoints), I'm sure we could see $4/gal.

You're lucky gas is much cheaper where you're at. I've seen several stations above $3/gal for regular for a few weeks and it's more common now. http://www.fuelgaugereport.com/CAmetro.asp says the avg. for San Jose, CA is $3.041 right now.

Some have argued that we should really be paying the true cost of oil or gasoline, meaning including the price of sending and having troops stationed overseas to protect oil interests.