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GasBuddy News Article

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Gas hits $3.50 a gallon after 5 pct. jump in July

The Boston Globe -- Gasoline is at $3.50 per gallon for the first time this summer after a sharp run-up in July.

The price of gas gained 17 cents per gallon, or 5.1 percent this month. It was the first monthly increase since March. The nationwide average was last at $3.50 per gallon on June 19.

AAA said Tuesday that about 4 cents of that 17-cent gain can be attributed to ethanol costs that jumped 17 percent in July on record high corn prices. Most fuel sold for passenger cars and pickups today is 10 percent ethanol and 90 percent gas.

Drivers had enjoyed a long stretch of declining prices at the pump as oil fell from more than $100 per barrel in March to below $78 by late June. The average price at the pump fell by 60 cents per gallon in about three months. But oil rose 13 percent from its June low on


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Submitted Aug 01, 2012 By: angel4me
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas hits $3.50 a gallon after 5 pct. jump in July Back to Topics
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honda0105
Champion Author Tallahassee

Posts:22,927
Points:2,213,290
Joined:Nov 2008
Message Posted: Aug 5, 2012 7:21:52 AM

no reason for the price jump, even at 13% jump of crude prices ($78 + 13% does not equal $140/barrel).
It's all about greed.
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xgojim
Champion Author Michigan

Posts:1,881
Points:1,006,005
Joined:Mar 2011
Message Posted: Aug 4, 2012 8:28:18 AM

What a deal! Wish I lived in Boston for "low" gas prices! In Michigan, 50 cents/gas more. Who gets the 50 cents/gal? Why? Don't say it has anything to do with costs. The gas cost the same to refine and transport as the gas a week ago when it wss priced less to consumers.
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h2ojumper
Champion Author Austin

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Message Posted: Aug 4, 2012 7:03:50 AM

Ok
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RapMassaG
Champion Author Cincinnati

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Joined:Oct 2008
Message Posted: Aug 2, 2012 9:55:18 AM

Greedway jumped, as predicted. $3.899 now in Ohio. With Chicago spot (wholesale) sitting at $3.30, expect another spike over the weekend, or Monday at the lastest.
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puinsai808
Champion Author Honolulu

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Message Posted: Aug 2, 2012 9:54:34 AM

$3.50 / gal would be nice for me.
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treehood
Champion Author San Diego

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Points:998,960
Joined:May 2011
Message Posted: Aug 2, 2012 9:13:56 AM

Not sure why this story is still running. We all know what gas is and I would still like to find it for $3.50 today
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kyjlh
Champion Author Kentucky

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Message Posted: Aug 2, 2012 7:42:56 AM

ok
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richnc
All-Star Author North Carolina

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Points:225,100
Joined:Mar 2006
Message Posted: Aug 2, 2012 6:50:53 AM

Sad thing is - that we should have noticed in the 70's when we had the oil embargo that we have NO control over oil. Our "leaders" should have started to break the shackles of oil in the last 40 years. But oil is "cheap" and convenient - so what if it brings down our economy and government - at least we had a good time while it lasted. Wonder if the Romans felt the same way?
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EVBuddy
Champion Author Nevada

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Message Posted: Aug 2, 2012 6:17:29 AM

Up maybe 3 cents here
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tomok
Champion Author Portland

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Message Posted: Aug 2, 2012 4:49:49 AM

Gas prices may be around $3.50/gallon but gas prices are up like like a rocket, down like a feather! Our local gas prices went up but have come back down to what It was about one month ago. I would like to see gas prices continue to drop but the gas price gods may not let that happen. The trend is always up with fuel prices. The price at the pump needs to go down to $2/gallon, $3 to $3.50/gallon is Not the new low! Ethanol is not wanted or needed, a drain on the US taxpayer pocket!
With Barry's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the good paying jobs are Not there. Barry can spin the jobs numbers so they look much better than what they really are, he's a smooooth talker if there ever was one! So how can people pay for this high priced gas?
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost.
The price of fuel at the pump is too high!
12/22/2012
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J4romeo
All-Star Author Gary

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Message Posted: Aug 1, 2012 11:35:17 PM

I agree with judgemoblie...:)
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judgemobile
Champion Author Ohio

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Message Posted: Aug 1, 2012 11:15:40 PM

gas was $ 1.69 at the pump (yes ONE dollar and change) when Bummer took office..., and unemployment is rising all across the nation, as we shall find out officially on Friday, Aug 3rd when they release the July stats nationally...so are you better off now than you were 4 years ago ??

If you voted for Obama in 2008 to prove you are not a racist, then you MUST vote for someone else in 2012 to prove you are not a fool.
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dacofa
Champion Author Nevada

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Message Posted: Aug 1, 2012 10:59:00 PM

Isn't that special.
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bonzoonfmb
Champion Author Florida

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Message Posted: Aug 1, 2012 10:57:05 PM

Gas prices are too high.
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coke_kid
Champion Author Chicago

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Message Posted: Aug 1, 2012 10:56:23 PM

I don't see anyone in Government even trying to do anything about inflated gas prices and Obama, well he's just excited and continues to hold moratoriums on oil in the gulf to force you to buy smaller death traps and solar money pits...

Gas jumped .38 cents in 3 weeks and back to 4 bucks and people are being pressed to the wall and Obama is part of the cause...
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DandyDapple
All-Star Author North Dakota

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Message Posted: Aug 1, 2012 10:55:35 PM

...
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pa79th
Champion Author Pennsylvania

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Message Posted: Aug 1, 2012 10:53:12 PM

Going to keep going up until just before the election when the O will release some of the National Oil reserves to drastically reduce the price, and make himself a hero.
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gsayeg1
Champion Author Milwaukee

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Message Posted: Aug 1, 2012 10:52:30 PM

Thats it - I'm breaking out my kids 3 wheeler
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abcdMA
Champion Author Worcester

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Message Posted: Aug 1, 2012 10:52:27 PM

siphning more money out of the economy
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itsjustme719
Champion Author Hamilton

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Message Posted: Aug 1, 2012 10:52:05 PM

Okay.
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evey315
Sophomore Author Ohio

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Joined:Feb 2012
Message Posted: Aug 1, 2012 10:50:57 PM

if we need gas, we will pay what we have to, bummer when it goes up
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outlaw329
Champion Author Austin

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Message Posted: Aug 1, 2012 10:47:47 PM

The price of gas should still be below $3.00, but our government does nothing which is not a surprise seeing who is in charge.
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OOXXFF
Champion Author Greensboro

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Message Posted: Aug 1, 2012 10:43:09 PM

Gas prices are too high.
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knot2swift
Champion Author Calgary

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Message Posted: Aug 1, 2012 10:42:08 PM

Well, I think when oil gets back up at $100 (What OPEC called
a "Fair Price not too long ago) after the Euro Zone crisis is over that I think $4 in the US for a gallon is what the market will bear. With oil at that price plus refiners and retailers all happy $4 should be it for now.

[Edited by: knot2swift at 8/1/2012 11:43:24 PM EST]
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clermont40miles
Champion Author Cincinnati

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Message Posted: Aug 1, 2012 10:34:07 PM


3.69 spike price. Headed toward 3.99 like a rocket.

Having their way with us.
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bvrbill
Champion Author Eugene

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Message Posted: Aug 1, 2012 10:29:27 PM

We knew prices would not fall. Big oil needs to make a profit.
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Homito
All-Star Author San Antonio

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Message Posted: Aug 1, 2012 10:28:41 PM

I hope it goes down (if oil owners give us a brake again)
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HA4CNN
Champion Author Toronto

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Message Posted: Aug 1, 2012 10:28:40 PM

Now instead of being gouged by oil prices now it is ethanol prices do to corn prices.
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Homito
All-Star Author San Antonio

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Message Posted: Aug 1, 2012 10:27:44 PM

illusion, only illusion....
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Homito
All-Star Author San Antonio

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Points:174,700
Joined:Apr 2011
Message Posted: Aug 1, 2012 10:27:18 PM

what did you expect? this wellness won't last forever.
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blk911
Champion Author Colorado Springs

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Joined:Nov 2004
Message Posted: Aug 1, 2012 10:26:00 PM

$3.32 here.
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frostyWV
Champion Author West Virginia

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Joined:May 2011
Message Posted: Aug 1, 2012 10:20:40 PM

$3.69 here already.
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44Irish
Champion Author Ontario

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Joined:Mar 2007
Message Posted: Aug 1, 2012 10:20:34 PM

That is $2 less then here.
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mcmonsta
Champion Author Honolulu

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Message Posted: Aug 1, 2012 10:20:01 PM

cut ethanol out of the picture, it really proved what ?
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THX138
Champion Author San Francisco

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Joined:Apr 2010
Message Posted: Aug 1, 2012 10:19:48 PM

How soon to $5 a gallon?
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Tekkersmom57
Champion Author Syracuse

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Joined:May 2010
Message Posted: Aug 1, 2012 10:17:56 PM

This daily gas price game we play is ridiculous. It would be nice if the government looked into the speculators bidding on our oil, for their own profit, as promised.
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30mpg80
Champion Author Lexington

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Message Posted: Aug 1, 2012 10:17:36 PM

Commodities Commission STILL has not limited oil speculation, as ordered by Congress
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suzmar
Champion Author Texas

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Joined:Jun 2006
Message Posted: Aug 1, 2012 10:16:20 PM

Hopefully a change in administrations will solve a lot of our problems.
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Blue48
Champion Author Illinois

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Message Posted: Aug 1, 2012 10:15:56 PM

BUMMER!
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libertyut
Champion Author Utah

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Joined:Mar 2012
Message Posted: Aug 1, 2012 10:14:34 PM

gas is still to high.
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TheSnowstorm
Champion Author Montreal

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Joined:June 2005
Message Posted: Aug 1, 2012 10:13:43 PM

Bottom line: consumers are still getting screwed at the pumps.
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serrog
Champion Author Nova Scotia

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Message Posted: Aug 1, 2012 10:13:18 PM

Expected
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mstearno
Champion Author Dayton

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Message Posted: Aug 1, 2012 10:12:09 PM

just in time for vacation
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armey
Champion Author Oregon

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Message Posted: Aug 1, 2012 10:11:33 PM

OK!
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AnObserver
Champion Author New Jersey

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Message Posted: Aug 1, 2012 10:11:05 PM

No quite there in NJ but we're thiking about it
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wayoung56
Champion Author Alabama

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Message Posted: Aug 1, 2012 10:08:08 PM

Hmmmmmm...
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mobil1MN
All-Star Author Minnesota

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Message Posted: Aug 1, 2012 10:06:45 PM

ok
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ricebike
Champion Author New Jersey

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Message Posted: Aug 1, 2012 10:05:52 PM

it should be lower
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carefrey
Champion Author Orlando

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Message Posted: Aug 1, 2012 10:03:41 PM

Thats to bad!
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themaninthehat
Champion Author New Orleans

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Message Posted: Aug 1, 2012 10:01:12 PM

and Fear and Loathing is back
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