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Feds send oil, gas prices higher via QE3

GasBuddy Blog -- Just when we were all hoping for some relief at the gas station this autumn, the Federal Reserve announced its third round of quantitative easing, weakening the dollar and sending oil prices higher- gasoline is sure to follow.

The program, dubbed QE3, works like this: the U.S. central bank implements quantitative easing by buying financial assets from commercial banks and other private institutions with newly created money. In turn, this sends the value of the U.S. dollar lower, the global currency of crude oil, thus making oil more expensive to buyers holding American Dollars.

We're seeing oil prices tinker on triple digits as a result, and it may not get a whole lot better. Since QE3 is expected to keep the dollar weak...


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Submitted Sep 14, 2012 By: PD
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Donatelo
Champion Author Dayton

Posts:1,223
Points:331,165
Joined:Apr 2011
Message Posted: Oct 8, 2012 1:35:14 PM

so much info everyday saying gas prices are going to go up or down, it is a guessing game.
99dakota
Champion Author Providence

Posts:11,431
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Joined:Oct 2006
Message Posted: Oct 1, 2012 5:38:32 AM

Another reason to make a change in November...
honda0105
Champion Author Tallahassee

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Message Posted: Sep 29, 2012 10:15:14 AM

pricewar: please explain.
pricewar
Champion Author Ogden

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Message Posted: Sep 25, 2012 11:28:54 PM

great money scheme for the feds. since there is nowhere else to line
their pockets. steady income for them. keeps them out of the
unemployment line.
CapriceWagon
Champion Author Washington

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Joined:Feb 2008
Message Posted: Sep 25, 2012 10:35:24 AM

We need to end the fed and implement the penny plan
DucatiRider
Rookie Author Maryland

Posts:70
Points:1,200
Joined:Sep 2012
Message Posted: Sep 25, 2012 9:55:22 AM

Here lemmie print some money, so we can buy our own debt. That's good for the dollar, right?

END THE FED!
vulcan96
Champion Author Ohio

Posts:27,181
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Message Posted: Sep 25, 2012 1:56:22 AM

repeat
Gas4Gore
Champion Author Detroit

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Joined:Jan 2010
Message Posted: Sep 24, 2012 10:39:43 PM

Boo O
WE0H
Champion Author Twin Cities

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Points:567,750
Joined:Feb 2011
Message Posted: Sep 22, 2012 10:14:32 PM

Nothing spectacular about this news. High fuel prices, weak economy. Never mind the US is exporting fuel to keep the pump prices high.
gasokie
Champion Author Oklahoma

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Points:1,986,435
Joined:May 2007
Message Posted: Sep 20, 2012 9:47:16 PM

The price of gas as affected by the Feds printing more dollars is just one little symptom of this sickness. Governments have often tried to print their way to prosperity. Won't work and most people really don't understand why.
pricewar
Champion Author Ogden

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Message Posted: Sep 20, 2012 9:28:02 PM

Our country has a 17trillion plus deficit and climbing. The russians and chinese will not loan us
any more money. the federal reserve is making up the difference by printing more and pumping the dollars into our economy, which in turns weakens our hard earned dollars, to get back on track you will later notice interest rates, income taxes, sales taxes etc. on down the line will take a substantial increase of our money, plus the havoc increase of inflation on top of it all! so to speak of your business trip write-offs, or just plain write-offs you usually
get will be little in return or nothing (taken away) Remember...Obama says we need to roll up our sleeves and sacrifice. Also, that fuel efficient vehicle you plan to buy, you can figure a good decade to pay for itself, by then it will be time to buy a new vehicle. a polite way of describing this picture... imagine a mouse in one of those squirrel cages running in place going nowhere chasing that carrot.and you say to yourself how dumb can it be. and later you take a closer look and even a closer look and you say, hey thats not a mouse, that is me. There is more to the story my friend. now have a good dat
honda0105
Champion Author Tallahassee

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Message Posted: Sep 17, 2012 11:00:51 PM

JG: good for you, but not everyone (esp. in the US is able to do this).
JGetson
Rookie Author PEI

Posts:1
Points:120
Joined:Sep 2012
Message Posted: Sep 17, 2012 12:01:52 PM

What I am doing to save money at the pumps is actually just a side-effect of the actions that I am taking to counter the overall effects of the current and coming economic climate - things like; price hikes for items including gas, electricity, food. The changing trends in employment; part-time vs full-time, job cuts and layoffs, as well as changes to social programs like EI, pensions, healthcare, etc.

Including:
- Purchased a 2nd home (in the city) as it is closer to my spouse's employment - reducing our overall transportation costs - gas, maintainance, etc.
(May eventually either sell or rent the other house - after planned renovations/upgrades are completed)
- Started my own home-based business, which not only allows me to write-off costs of running our household, ie; electricity, phone, internet, etc.
(Will also allow me to qualify to claim tax credits that I will have to pay).
- Purchased a new, more fuel-efficient 2nd vehicle for everyday personal transportation.
(Will be dedicating the older vehicle for mostly business purposes).
- As a business owner, join the local business organizations like the chamber of commerce
(My local COC offers members a 3-cent/litre discount at the pump).
- Combine personal trips with business purposes whenever possible to maximize the deductability of travel costs.
(Trips do not have to be exclusively business to qualify - just need to look for, or discuss business - vacations are more fun when someone else is paying for them)
- Buy other items in bulk and/or at wholesale whenever possible.
(This is just a smart move to reduce our overall expenses)
- Pay it forward by teaching family and friends the exact tactics and strategies to take back ownership of their own lives.
(Things that will allow them to weather downturns in the economy, pay less, save more, and secure a financial future)
alphanyr
Champion Author Connecticut

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Message Posted: Sep 17, 2012 10:14:46 AM

yes...enough is enough
MadTraveler
Champion Author Idaho

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Message Posted: Sep 17, 2012 1:45:02 AM

Go obama
Gas4Gore
Champion Author Detroit

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Message Posted: Sep 16, 2012 9:06:26 PM

Thanks a lot government.
margeret9021
Rookie Author Virginia Beach

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Joined:Sep 2012
Message Posted: Sep 16, 2012 8:18:24 PM

yes
tomok
Champion Author Portland

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Joined:Aug 2006
Message Posted: Sep 16, 2012 5:01:10 PM

Create more imaginary dollars, drive the price of oil up and higher prices at the pump are the results. Higher prices at the pump makes those EV's and Inbreds look much better don't they!
Thanks a lot Chuck, you can apply for unemployment in January!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, has a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
12/22/2012!
gravityhurts
Champion Author North Carolina

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Message Posted: Sep 16, 2012 4:42:35 PM

Thanks a lot butt-hole!
dockersbin
Veteran Author North Carolina

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Joined:May 2006
Message Posted: Sep 16, 2012 4:01:49 PM

we can only hope something changes for the better soon
hank1326
Champion Author Los Angeles

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Message Posted: Sep 16, 2012 3:23:44 PM

Ditto to fieldt. Enough from this no substance all spins administration. Time for real changes in November.
Digger52
Champion Author Chicago

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Message Posted: Sep 16, 2012 2:39:45 PM

$5/gal regular before the end of the year
barbs24
Champion Author Virginia Beach

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Message Posted: Sep 16, 2012 2:15:06 PM

What happened to prices going down after Labor Day??
nigelb
Champion Author Virginia

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Message Posted: Sep 16, 2012 2:14:34 PM

Old news.
Rancher23
Champion Author Cincinnati

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Message Posted: Sep 16, 2012 2:11:23 PM

Whatever!!!!!
kacansas
Champion Author Twin Cities

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Message Posted: Sep 16, 2012 2:09:39 PM

I do HATE some of these "bright ideas" that the government comes up with to "help" us common citizens! This policy got it's big start during the recent Bush presidency and did it stop during Obama? No, and why not? Because one executive who has to get squabbling Democrats and Republicans on his side to really change things(not any time soon) can not just order things to be done his way. Buch tried that and is still skating on a thin line of possible international war crimes indictments. Did you know that there is a standing warrant for Bush's arrest in Switzerland created when the Europeans heard he was going to visit? There is one great man! I do believe he is the only president of the U.S. to ever have that kind of foreign attention.
kassie1203
Champion Author California

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Message Posted: Sep 16, 2012 2:08:44 PM

k
theWizK
Champion Author Columbus

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Message Posted: Sep 16, 2012 2:07:49 PM

Fscking idiots.... Leave my money alone!
wshutton
Champion Author Albuquerque

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Joined:Mar 2009
Message Posted: Sep 16, 2012 2:06:13 PM

Thanks to the Big Government Federal Reserve. Nissan Corporation announced they are bringing more vehicle production to the US. More American jobs thanks in part to the cheaper dollar. This helps our exporting too as our products are more competitive.
caddilac
Champion Author Ontario

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Joined:Apr 2007
Message Posted: Sep 16, 2012 2:04:08 PM


Yesterday's news.
ItisAJeepThing
Champion Author Tucson

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Joined:Oct 2006
Message Posted: Sep 16, 2012 1:59:43 PM

The Federal Reserve actually caused the American Dollar to loose a little value. Therefore all commodities and anything imported will be a little more expensive. American homes will be easier to buy and loans will be easier to get. It doesn't help me, I own my home and don't run up credit card debit. I just have to pay more for gasoline from Big Oil.

If we elect Mitt Romney it will get worse and happen soon.
fieldt
Champion Author Lansing

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Message Posted: Sep 16, 2012 1:59:24 PM

QE3 = out of ideas or no courage to implement the tough choices.
fenster66
Champion Author Pittsburgh

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Message Posted: Sep 16, 2012 1:58:41 PM

lets hope it works....
hammer219115
Veteran Author Pennsylvania

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Joined:Aug 2006
Message Posted: Sep 16, 2012 1:57:01 PM

You gotta laugh to keep from crying.
svspyda
Champion Author San Jose

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Message Posted: Sep 16, 2012 1:53:07 PM

ok
TAT36
Champion Author Florida

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Joined:Sep 2009
Message Posted: Sep 16, 2012 1:53:06 PM

QE3 more money for less merchandise or services.
rjd1608
Champion Author Toledo

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Joined:Aug 2003
Message Posted: Sep 16, 2012 1:49:56 PM

ok
Skyelydoo
Sophomore Author Pennsylvania

Posts:244
Points:482,465
Joined:Feb 2006
Message Posted: Sep 16, 2012 1:46:10 PM

They legislate so much worthless stuff, why can't they do something about the price of fuel?
stopforgas
Champion Author Mississippi

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Message Posted: Sep 16, 2012 1:44:34 PM

Need to update the news
Hugo40
Champion Author Kentucky

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Message Posted: Sep 16, 2012 1:43:57 PM

More old news.
TNT2EC
Champion Author Wisconsin

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Message Posted: Sep 16, 2012 1:36:34 PM

Greedy Speculators....
suzyq2007
Champion Author Dallas

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Message Posted: Sep 16, 2012 1:33:41 PM

this was one of the most ridiculous things they have done in Washington recently. get rid of all of the liberals up there--just clean house
kosciak
Champion Author Hartford

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Message Posted: Sep 16, 2012 1:30:25 PM

old news
BigHorne1
Champion Author Missouri

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Message Posted: Sep 16, 2012 1:30:24 PM

This is going to blow up the price per gallon by at least ten cents a gallon by end of october, this is inflation that Big Ben hasn't considered in his QE3
braves89
Champion Author Chicago

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Message Posted: Sep 16, 2012 1:30:08 PM

day 2 for this story
Bonanza
Champion Author Boston

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Message Posted: Sep 16, 2012 1:29:51 PM

Old news
PrettyLittleLady
Champion Author Modesto

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Message Posted: Sep 16, 2012 1:27:57 PM

Oh Brother, just cause I'm on vacation.
Mariuxus
Champion Author Chicago

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Message Posted: Sep 16, 2012 1:27:17 PM

Wow..old ...next...
jtravis711
Veteran Author Orange County

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Message Posted: Sep 16, 2012 1:25:14 PM

This blog might be getting long in the tooth, but this issue is far from over. We need a system that works on all cylinders...A president that leads and works with both sides of congress, a congress that works for the people and with an administration and a fed that works independently yet with the cooperation of the president and congress.
craigsf38
Champion Author Rochester

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Message Posted: Sep 16, 2012 1:24:45 PM

Not a surprise
RNCII
Champion Author Michigan

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Message Posted: Sep 16, 2012 1:24:05 PM

Barackonomics at work.

Is this the hope and change you can believe in?

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