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GasBuddy News Article

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Oil prices rise above $96 per barrel ahead of the release of US jobs, GDP data

Associated Press -- The price of oil rose slightly Monday, a sign of investor confidence in the U.S. economy's recovery ahead of the release of data on jobs, home sales and the country's overall growth.

Benchmark oil for March delivery was up 14 cents to $96.02 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 7 cents to close at $95.88 on the Nymex on Friday after a report showed a cooling off in new U.S. home sales.

The U.S. government will release monthly durable goods figures later Monday, and the National Association of Realtors will report on pending home sales for December. Later in the week, reports on weekly jobless claims and employment data for January are due.


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Submitted Jan 28, 2013 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil prices rise above $96 per barrel ahead of the release of US jobs, GDP data Back to Topics
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honda0105
Champion Author Tallahassee

Posts:23,397
Points:2,297,915
Joined:Nov 2008
Message Posted: Feb 1, 2013 4:53:34 AM

one station here is charging 3.57, up from 3.39 this morning.
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RapMassaG
Champion Author Cincinnati

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Points:1,581,345
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Message Posted: Jan 29, 2013 3:50:54 PM

Greedway/Speedway execs must be in a hurry to buy their new yachts this year. Gone from $2.75 to $3.59 in under a month.
And wholesale has only gone up about 45 cents(not 84) in that same time frame.
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camaro_man
Champion Author Kitchener-Waterloo

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Message Posted: Jan 29, 2013 3:36:53 PM

wow good story....
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tomok
Champion Author Portland

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Message Posted: Jan 29, 2013 2:11:11 PM

Oil prices rise above $96 per barrel ahead of the release of US jobs, What Jobs?
Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices to other countries. 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting fuel is! Take care of the domestic fuel market first, above all else!
Vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII! - The Day After......
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studebaker1940
Champion Author Tampa

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Message Posted: Jan 29, 2013 8:42:06 AM

Get ready for $10 a gallon
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OldMan322
Champion Author Illinois

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Joined:Jul 2008
Message Posted: Jan 29, 2013 7:20:06 AM

"gd83goldwinger" No its not gouging, bend over
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virostek
Veteran Author Virginia

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Message Posted: Jan 29, 2013 5:54:16 AM

Bummer.
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remay
Champion Author Houston

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Message Posted: Jan 29, 2013 5:52:47 AM

here we go...
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Wizrd03
Champion Author Illinois

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Message Posted: Jan 29, 2013 5:41:36 AM

Investor confidence - BS, speculator greed!
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Ferdman17
Champion Author Albany

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Message Posted: Jan 29, 2013 4:59:14 AM

This is just wonderful. Here we go again!
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SkooterG
Champion Author Phoenix

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Message Posted: Jan 29, 2013 1:15:23 AM

Yeah, no kidding. Gas prices at the pump don't seem to coincide with oil prices. What a scummy industry.
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gd83goldwinger
Champion Author South Bend

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Message Posted: Jan 29, 2013 1:09:56 AM

What I dont get is the cost was 120 to 150 a barrel back a few years and gas was in the 2.50-3.00 range. The cost has dropped and the price of gas keeps raising. This is not price gouging? Go figure.
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vulcan96
Champion Author Ohio

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Message Posted: Jan 29, 2013 12:31:58 AM

excessive greed is not good.....
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iFueler
Champion Author Durham

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Message Posted: Jan 29, 2013 12:29:18 AM

there were a number of factors in play, including these
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BEngr
Champion Author Illinois

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Message Posted: Jan 29, 2013 12:25:47 AM

They don't waste any time raising gas prices. Yesterday ours jumped 25 cents per gallon.
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pinofl
Veteran Author Miami

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Message Posted: Jan 29, 2013 12:25:32 AM

we need low prices
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Jan 29, 2013 12:18:05 AM

This is last nights news, why is it still up?
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Rooster922
Champion Author Wilmington

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Message Posted: Jan 29, 2013 12:16:31 AM

Really, surprise!!!
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2005Retired
Champion Author Arkansas

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Message Posted: Jan 29, 2013 12:10:53 AM

up from 3.96 to 6016 in six days in NWArk
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thunderstruck
All-Star Author Chicago

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Message Posted: Jan 29, 2013 12:10:04 AM

Gas prices already went up here in Chicago. Certainly not wasting any time.
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TBONE3
Champion Author Pennsylvania

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Message Posted: Jan 29, 2013 12:09:53 AM

Sure can't tell that there is an improvement in the basic economy here. There is no glut of available decent paying jobs around here.
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kd5kpd
Champion Author Texas

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Message Posted: Jan 29, 2013 12:09:40 AM

Get ready for higher fuel prices & a collapsing economy!!
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Kawibiker
Champion Author Illinois

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Message Posted: Jan 29, 2013 12:09:32 AM

more retoric to raise the prices.. soon won't be able to buy groceries.. cause gas costs too much.. no wonder why people working two and three low paying jobs.. to try and make it.. USA land of opportunity.. HUH! that's going out the window.
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unicornpmb
Champion Author Buffalo

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Message Posted: Jan 29, 2013 12:07:06 AM

Not moving the right way.
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KrsnaDragon
Champion Author Montreal

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Message Posted: Jan 29, 2013 12:03:51 AM

Speculation breeds despair.
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gaspumpin
Champion Author Indiana

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Message Posted: Jan 29, 2013 12:03:27 AM

And...........gas prices surge by $.30/gal.
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danreino
Champion Author Twin Cities

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Message Posted: Jan 28, 2013 11:59:44 PM

$5.50 = no 550i
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pa79th
Champion Author Pennsylvania

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Message Posted: Jan 28, 2013 11:59:30 PM

Destroy the Futures Market! It kills consumers!
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judgemobile
Champion Author Ohio

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Message Posted: Jan 28, 2013 11:58:57 PM

greed still lives.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Jan 28, 2013 11:58:07 PM

Of course . . . and now Gas Buddy is showing prices trending up
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defiancegasman
Champion Author Ohio

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Message Posted: Jan 28, 2013 11:57:22 PM

And what ever happened to "DEMAND and SUPPLY" setting the price??
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craigsf38
Champion Author Rochester

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Message Posted: Jan 28, 2013 11:56:42 PM

speculators will push it to $100/barrel before long
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Tomeboy
Champion Author Twin Cities

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Message Posted: Jan 28, 2013 11:52:22 PM


The price of oil rose slightly Monday, a sign of investor confidence in the U.S. economy's recovery. Not good news for the majority of us who do not have investments in oil.

A sign of investor confidence is a sign of dread for the rest of us. The economy looks better to investor's... and their investments are helping drive up the price of oil. What follows next?... higher gasoline and diesel prices. Which leads to increased operating costs for companies and small businesses across the U.S. And they pass those increased operating costs along to the consumer. More economic burden and hardship a lot of us can't take on. Many people with budgets already stretched to the max will be pushed over their own personal fiscal edge. More of our money being used for fuel means even less we will have to spend on other goods and services. Higher oil and fuel prices will stifle any economic recovery.

The price of gasoline in my area of the Twin Cities has gone from $2.88 on 1-17 to $3.49 today 1-28. An increase of .61 cents a gallon in the last 11-days. Fast track price increases!! Now over $10.00 more for a tankful of gas!!

Investor's confidence is nothing but bad news for the average consumer!!

We don't need your confidence anymore investor's!! We can get along just fine without you!!

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texasvet
Champion Author Texas

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Message Posted: Jan 28, 2013 11:51:18 PM

For some reason, the oil market thinks that we still have an actual economy.
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Zonk
Champion Author Michigan

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Message Posted: Jan 28, 2013 11:49:05 PM

Unfortunately, you can't believe any reports the obama administration publishes. They tend to be tainted.
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granitestater
Champion Author New Hampshire

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Message Posted: Jan 28, 2013 11:48:18 PM

Still under $100...
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jrschl
Champion Author Louisville

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Message Posted: Jan 28, 2013 11:46:07 PM

The speculation runs rampant just on anticipation.
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GAS1251
Champion Author Texas

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Message Posted: Jan 28, 2013 11:45:12 PM

Explains the dime jump at the pump today.
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probedude2
Champion Author Akron

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Message Posted: Jan 28, 2013 11:44:01 PM

Another excuse for Speedway to raise prices, probably later today here...
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CarolinaDragon
Champion Author South Carolina

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Message Posted: Jan 28, 2013 11:43:02 PM

I hope prices do not inflate.
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pgerassi
Champion Author Milwaukee

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Message Posted: Jan 28, 2013 11:38:41 PM

Ban CIFs and watch the prices crash to half of what they are now.
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bridgerunner
Champion Author Virginia

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Message Posted: Jan 28, 2013 11:38:18 PM

"...I still have belief in capitalism. It may suck for some, but EVERYONE has opportunity..."
-----------------------------------------------------------------------------

I like this!
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jwhite871
Rookie Author Wisconsin

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Message Posted: Jan 28, 2013 11:35:24 PM

Until Ben Bernanke gets his head out of his ass and raises interest rates to at least 5.5% which will curb investor speculation in the futures markets don't expect gas to drop anytime soon to an afordable and reasonable price, his idea that low interest rates with his operation twist and QE are fuel for disastar for any real economic recovery, they say are economy is improving, the truth is there hasn't been any recovery other than bailouts by the government and consumer have just adapted to a different lifestyle and at the sametime, most without a job in the workforce that once were employed have runout of benefits, dropped out of the labor market, or are at no choice underemployed, saying welcome to Walmart is not a job Mr. Bernanke, thats community service get your head out of your ass and raise interest rates to give consumers the confidence to spend again or resign and let someone who really understands economics take your seat.
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ican2step
Champion Author Pittsburgh

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Message Posted: Jan 28, 2013 11:35:15 PM

I still have belief in capitalism. It may suck for some, but EVERYONE has opportunity.
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LQQKGAS
Champion Author Phoenix

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Message Posted: Jan 28, 2013 11:35:11 PM


If it's Bush's fault then why isn't obuma fixin' it ???
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Dailyrun
Champion Author Kentucky

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Message Posted: Jan 28, 2013 11:34:05 PM

yeah
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Jmac2008
Champion Author Missouri

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Message Posted: Jan 28, 2013 11:32:39 PM

and as the demand for oil decreases, the price keeps going up, end speculation in the oil market.
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WE0H
Champion Author Twin Cities

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Message Posted: Jan 28, 2013 11:32:36 PM

Why don't we use all the domestic oil instead of exporting it to control the oil prices? Is that because all these oil companies operating on US soil are really foreign owned?
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unclenorman
Champion Author Tampa

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Message Posted: Jan 28, 2013 11:31:47 PM

ok
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Tigercat88
Champion Author North Carolina

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Message Posted: Jan 28, 2013 11:30:56 PM

SPECULATORS!
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Matt G
Champion Author Boston

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Message Posted: Jan 28, 2013 11:30:24 PM

I thought we were getting oil independent.
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