Future Predicted Gas Prices

[Kuripot]

Originally Posted by BEEF

$5 is coming, it is just a matter of time. I am not a conspiracy theorist. I just know that simple inflation will push it that high in a few years if other factors don't do it first.

I remember when people used to talk about how bad europe had it paying $2.50 a gallon and how lucky we were and that we would never see that. that was only about 8 years ago.

*edit* that is when gas was just over a buck a gallon

"One of the big questions for budgeting a European vacation is the price of gas. In short, European prices are considerably higher than they are in America, about 2.3 x higher.
Make no mistake: the price of the raw gas is about the same as the U.S., but Europe taxes gasoline at a higher rate. At the moment, taxes in France make up about 70 percent of the pump price. For comparison, the U.S. federal gasoline tax of of 2005 was 18.4 cents per gallon, with each State adding between 10 and 33 cents of tax, according to Widipedia. That makes the maximum gasoline tax rate 17% in the U.S."

The above quote is from about.com

[GasSavers_BEEF]

I also said when I was younger that I would never pay 10k for a car because any higher was rediculous. amazing what inflation will do.

the tax statement seems to ring pretty true. there are stickers on gas pumps around here that show North Carolina and surrounding states and the taxes that each state pays. I can't remember right off hand what they all are. ony that georgia is the cheapest on that map.

[R.I.D.E.]

I have paid 18 cents a gallon, seen it at the pumps for 13.

It ain't what it costs, its how much of your total transportation costs are dedicated to fuel. For me and the wife its less than $300 a month for 3000 miles.

She got her last tank for $3.289.

It will hit $10 unless we fix the cars to get at least 45 average.

regards
gary

[GasSavers_JoeBob]

Originally Posted by Kuripot

"One of the big questions for budgeting a European vacation is the price of gas. In short, European prices are considerably higher than they are in America, about 2.3 x higher.
Make no mistake: the price of the raw gas is about the same as the U.S., but Europe taxes gasoline at a higher rate. At the moment, taxes in France make up about 70 percent of the pump price. For comparison, the U.S. federal gasoline tax of of 2005 was 18.4 cents per gallon, with each State adding between 10 and 33 cents of tax, according to Widipedia. That makes the maximum gasoline tax rate 17% in the U.S."

The above quote is from about.com

If I remember correctly, and I think I do, on gas pumps about 40 years ago there was a decal which read something to the effect: "Price includes 11 cents tax". This was when gasoline sold for around 25 cents a gallon. That would make the tax rate at that price about 44%. And no sales tax was charged on gasoline. Military bases were exempt (remember going with my parents to pick up my brother from Camp Pendleton, seeing a filling station on base charging 14.9 cents per gallon).

If I am paying, say, $3.85 per gallon, I would be paying about 65 cents per gallon tax. This would make the gasoline $3.25 per gallon before taxes. If I were paying tax at the 1967 rate, I would be paying $4.68 per gallon.

[GasSavers_JoeBob]

Originally Posted by Kuripot

Are the people predicting 5$ plus still out there or did they move to the hills and off the grid? Maybe they don't have internet access up there.

Gas prices are affected by a lot of things...demand, speculation, events beyond our control, events within our control (coming full circle to demand). Reading one of your earlier posts, I think you nailed it on the head with the comment about the effect on prices of China buying up oil before the olympics.

What is really fascinating is that gasoline prices go down a bit (due, so THEY say, to lowered demand) people seem to think gasoline has become cheap again. $3.50/gallon is cheap? Gas is priced at x, you raise the price to x+4, drop it to x+2 and people think they are getting a great deal. But you're still paying x+2. Then it goes up to x+7, then drops to x+5. You feel good paying x+5. And so on.

Predicting anything is risky...I have a magazine floating around my garage from 1964 which had some interesting predictions for 1974 cars...20 mpg at 90 mph, bumpers would disappear, and that there would be no more manual transmissions...the then-current 4-speed craze was just a passing fad.

I still think $5.00/gallon or more is coming...I believe (note that I said I believe, I do not have ultimate knowledge, but this is what I have perceived) the oil production/distribution system is getting pushed to its limit, smaller and smaller disruptions are causing problems...

[bowtieguy]

prices in the very near future in the southeastern US are certain to go up as Gustav shut down oil production for a bit.

[KU40]

Production usually isn't the problem. When refineries shut down is usually the larger problem. There is more crude oil sitting in storage tanks than refined gasoline.

[Snax]

Gasoline WILL go to $5/gallon and more. The only real question is when, and how quickly?

I'm still of the mindset where I don't really care that much what the actual price at the pump is. We've positioned ourselves logistically and financially so that we don't have to. Conversely, every working class person should be concerned about food costs.

[gloat] Regardless, my gas log for the Escort has not been updated in 6 months for good reason: I've only filled it twice since february, and the second fill is only down by 1/2. (I failed to note my miles for the previous fill.) The motored bike has only burned through about 2 gallons since I got it as well. So ~17 gallons over 6+ months = 2.83 gal/mo at $14.17/mo. I'm paying more than twice that for insurance! [/gloat]

[Kuripot]

Originally Posted by Snax

Gasoline WILL go to $5/gallon and more. The only real question is when, and how quickly?

I've seen that statement many times. That's like saying, the earth will cease to exist sometime, the only real question is when.

I'd like to see some actual predictions. I've put mine out there in previous posts on this thread.

[Snax]

Ok, my money is on June 2009 for the national average. But I thought it would get there this year. :P