Consumers Taking Financial Hit From Rising Fuel Prices

[Jroc]

Consumers have been spending more on gasoline than they have in nearly three decades.


With pump prices at their highest level on record for this time of year, the stage is set for an even greater climb in gasoline prices and expenditures than in 2012. Retail gasoline prices have surged 17 cents in a week to top $3.50 a gallon on average, posting the highest prices on record for the beginning of February.


According to AAA, the national average price of regular gasoline is $3.52 a gallon, 4 cents higher than the average price a year ago. The average price was $3.35 a gallon a week ago and $3.30 a gallon a month ago. 　

Meanwhile, the U.S. Energy Information Administration reported Monday that gasoline expenditures in 2012 for the average U.S. household reached $2,912, or just under 4 percent of income before taxes. This was the highest estimated percentage of household income spent on gasoline in nearly three decades, with the exception of 2008, when the average household spent a similar amount. Gasoline prices averaged $3.63 a gallon in 2012, according to EIA.

Although overall gasoline consumption has decreased in recent years, a rise in average gasoline prices has led to higher overall household gasoline expenditures, according to the EIA.

spring rally in gasoline prices typically starts in late February or early March, so this year's gains have come earlier than is usually the norm.

Analysts said the uncharacteristically early price rise is due to several factors: some refineries closing permanently or shutting down for maintenance, climbing crude oil prices, and a shortage of supply in California, requiring fuel to be diverted from other areas of the country to make up for reduced inventories.

In California, which often has the highest-priced gasoline in the continental U.S., mid and premium priced grades are already over $4 a gallon. Meanwhile, the state-wide average price of regular gasoline has jumped over 30 cents, or 10 percent, from a month ago to $3.91 a gallon on Monday, according to AAA. California gas prices are up 24 cents — or 6 percent higher — than they were a year ago.

Consumers Taking Financial Hit From Rising Fuel Prices

 

[TheOldSchool]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

I'm still planning on getting a Wrangler very soon though

 

[Clementine]

Not to mention the hit from higher food prices, utility bills and other goods. And soon, Obamacare will break our budgets and force us to choose between gas and food. We have to buy insurance or face fines, maybe jail. That means we give up other things. Tough choices ahead. And those who are excited about Obamacare, thinking they have more freebies coming, might be more upset than the rest of us. Buy the insurance or pay the fine. The fine is at least $2,400. And that doesn't get you insurance. Many will opt for that fine because of the high costs of insurance, thanks to Obamacare. Since many companies will no longer provide insurance, we're on our own. Without employers paying the lion's share, the roughly $5,000 per person is going to be tough to manage. If you have a spouse and kids, it's going to be expensive.

Gas is steadily rising, as predicted. Obama once said that he felt $5.00 a gallon was reasonable, but he thought the price should rise slow, maybe so we'd slowly get used to it. It's insane. But, he still says no to the pipeline. We should drill more of our own, but the libs prefer buying it elsewhere. We don't need those jobs.

 

[TruthSeeker56]

Won't be much longer and the price of gas won't matter.

 

[Jroc]

Not to mention the hit from higher food prices, utility bills and other goods. And soon, Obamacare will break our budgets and force us to choose between gas and food. We have to buy insurance or face fines, maybe jail. That means we give up other things. Tough choices ahead. And those who are excited about Obamacare, thinking they have more freebies coming, might be more upset than the rest of us. Buy the insurance or pay the fine. The fine is at least $2,400. And that doesn't get you insurance. Many will opt for that fine because of the high costs of insurance, thanks to Obamacare. Since many companies will no longer provide insurance, we're on our own. Without employers paying the lion's share, the roughly $5,000 per person is going to be tough to manage. If you have a spouse and kids, it's going to be expensive.

Gas is steadily rising, as predicted. Obama once said that he felt $5.00 a gallon was reasonable, but he thought the price should rise slow, maybe so we'd slowly get used to it. It's insane. But, he still says no to the pipeline. We should drill more of our own, but the libs prefer buying it elsewhere. We don't need those jobs.

The fed is printing money like crazy, that's one reason why food and oil is going up...But theres no inflation though

 

[neomalthusian]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

This would be a more interesting question if it were shown that new discoveries are outpacing the global rise in demand. I doubt they are though.

 

[Inthemiddle]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

I'm still planning on getting a Wrangler very soon though

I guess having all those new oil fields just doesn't do much to reduce the price of oil. You'd think there was some kind of global market or something. With a large international conglomerate that intentionally manipulates production rates to control the price of their commodity outside normal market variables.

 

[ba1614]

Seems like yesterday the progressive media would go of the rails on Mr Bush when gas went up a nickle. They would be at the pumps getting peoples thoughts on the rising fuel costs and all.
Now of course, hardly a peep, and if there is something mentioned it's the evil successful guy who's responsible, wonder why?

 

[Inthemiddle]

Seems like yesterday the progressive media would go of the rails on Mr Bush when gas went up a nickle.

That's right, BOOOOOOOOOSH!

 

[editec]

And soon, Obamacare will break our budgets and force us to choose between gas and food.

I didn't know that Obama had the power to change gas and oil prices. Here I was thinking that only
market forces and monopolists had that power

Thanks for the heads-up.

 

[ba1614]

Seems like yesterday the progressive media would go of the rails on Mr Bush when gas went up a nickle.

That's right, BOOOOOOOOOSH!

Just the facts asshole

 

[Jroc]

Gas was $1.85 when Obama came in, now $3.70 here in MI cause and effect?

 

[Seawytch]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

I'm still planning on getting a Wrangler very soon though

I guess having all those new oil fields just doesn't do much to reduce the price of oil. You'd think there was some kind of global market or something. With a large international conglomerate that intentionally manipulates production rates to control the price of their commodity outside normal market variables.

And I bet they aren't hurting at all are they?

 

[zeke]

Booosh didn't do anything to effect the price of a barrell of oil (other than invade an oil producing country in an oil producing region of the world).

In the meantime, Obama has personally caused the price of a gallon of gas to go up and up and up.
By simply being.......Obama. (I think he gets so much a gallon sent to his offshore bank account. Or was that Mittens?)

Amazing isn't it how he (Obama) could do that all by himself?

 

[Jroc]

Booosh didn't do anything to effect the price of a barrell of oil (other than invade an oil producing country in an oil producing region of the world).

In the meantime, Obama has personally caused the price of a gallon of gas to go up and up and up.
By simply being.......Obama. (I think he gets so much a gallon sent to his offshore bank account. Or was that Mittens?)

Amazing isn't it how he (Obama) could do that all by himself?

Obama doesn't pay for gas. While he shuts down keystone, blocks drilling in Alaska and off shore, while his fed chief prints money like a madman, the poor and middle class suffer

 

[FJO]

Booosh didn't do anything to effect the price of a barrell of oil (other than invade an oil producing country in an oil producing region of the world).

In the meantime, Obama has personally caused the price of a gallon of gas to go up and up and up.
By simply being.......Obama. (I think he gets so much a gallon sent to his offshore bank account. Or was that Mittens?)

Amazing isn't it how he (Obama) could do that all by himself?

What did President Obama say in Las Vegas, recently, that he could not have said at his desk in the Oval Office?

What did he say in Minneapolis, recently, that he could not have said sitting in the White House?

This guy is the most profligate and irresponsible waster of natural resources, flying Air Force One helter-skelter to any all destinations, totally unnecessarily, except of course for the photo ops, with adoring idiots behind him, according to his typical nouveau riche mentality.

Like it or not, his wasteful jaunts DO have effect on fuel prices.

 

[tjvh]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

I'm still planning on getting a Wrangler very soon though

It's refineries that are the problem... The environmentalists have done such a good job infiltrating our Government it is damn near impossible to open up a new Oil refinery on American soil, without fear of killing some Roach that has found it's way onto the endangered species list.

 

[FJO]

It's ridiculous. In northern Virginia gas is a little less than that but close. It seems like everyday some new oil field is discovered. Then why's my gas so high???

I'm still planning on getting a Wrangler very soon though

It's refineries that are the problem... The environmentalists have done such a good job infiltrating our Government it is damn near impossible to open up a new Oil refinery on American soil, without fear of killing some Roach that has found it's way onto the endangered species list.

The EPA (Employment Prevention Agency) is, sadly, very good at that.

 

[Wry Catcher]

Seems like yesterday the progressive media would go of the rails on Mr Bush when gas went up a nickle. They would be at the pumps getting peoples thoughts on the rising fuel costs and all.
Now of course, hardly a peep, and if there is something mentioned it's the evil successful guy who's responsible, wonder why?

Seems like today the reactionary right is blaming Obama for matters way beyond any president's ability to control. The world-wide oil cartel, the Fed, Greece and Spain, a recalcitrant 'leadership' in H. of Rep., a minority leader in the Senate whose chief goal is his reelection in 2014 and a desire to maintain the status quo, i.e. gridlock.

BTW, what did Cheney's energy task force of unknowns members decide?

 

[Jroc]

Seems like yesterday the progressive media would go of the rails on Mr Bush when gas went up a nickle. They would be at the pumps getting peoples thoughts on the rising fuel costs and all.
Now of course, hardly a peep, and if there is something mentioned it's the evil successful guy who's responsible, wonder why?

Seems like today the reactionary right is blaming Obama for matters way beyond any president's ability to control. The world-wide oil cartel, the Fed, Greece and Spain, a recalcitrant 'leadership' in H. of Rep., a minority leader in the Senate whose chief goal is his reelection in 2014 and a desire to maintain the status quo, i.e. gridlock.

BTW, what did Cheney's energy task force of unknowns members decide?

It's Cheney's fault!!