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GasBuddy News Article

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Will We See $5 Gasoline This Year?

cnbc -- Gasoline prices rose to a near four-month high in the U.S. Tuesday, fueled by a number of refinery closures.

(Read More: Refinery Closures Send Gas Prices to Near 4-Month High)

The Automobile Association of America reported that national retail prices for regular gasoline are up 13 percent to an average $3.748 a gallon from a month ago, up from $3.604 a week ago and up 5 percent from the same period a year ago.

About one million barrels per day of refining capacity has been taken off line on the East Coast and St. Croix, as the industry responds to low margins and shrinking demand. In January, Hess announced plans to close its Port Reading, N.J., refinery, while refinery shutdowns and planned repairs have cut into gasoline supplies in many parts of the country.


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Submitted Feb 20, 2013 By: loloTX
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Will We See $5 Gasoline This Year? Back to Topics
REPLIES (newest first) Post a Reply
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Amplion
Champion Author Oregon

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Message Posted: Feb 20, 2013 9:32:04 PM

YES !!!!
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rcornel
Champion Author San Diego

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Message Posted: Feb 20, 2013 5:12:41 PM

It's here in SoCal already.
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qwerty17
Champion Author New Jersey

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Message Posted: Feb 20, 2013 4:28:36 PM

nope.
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humblepie
Champion Author Toledo

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Message Posted: Feb 20, 2013 3:17:05 PM

heck yes, enjoy those obamanomics
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slowtrain
Champion Author Georgia

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Message Posted: Feb 20, 2013 2:48:04 PM

I saw where they had it in California already.
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Tacodan
Champion Author Cincinnati

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Message Posted: Feb 20, 2013 2:16:20 PM

yes
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FuelPump
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 1:30:49 PM

Unless there is some sort of leash put on speculators, there is little doubt in my mind that we will see that $5.00 gallon of gasoline this year. Perhaps this Spring.
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Chinto12
Champion Author Illinois

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Message Posted: Feb 20, 2013 1:29:08 PM

Obama's plan is working
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TheDix
Champion Author Ontario

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Message Posted: Feb 20, 2013 1:25:08 PM


gas prices dropped .08 cents/litre at some stations today.
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mycar2
Champion Author Akron

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Message Posted: Feb 20, 2013 1:23:00 PM

greed will drive the price, they all have good excuses
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BarryAClarke
Veteran Author Indiana

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Message Posted: Feb 20, 2013 1:22:21 PM

Each year over the past ten years, "big Oil" has been gradually raising gasoline prices. They raise them until the public hit’s the roof over high prices, then they pull back but not at previous lows. First it was the one dollar mark, then two, then three, and finally last year the puff of methane hit the fan at around $4.65. Now, this year they are starting earlier and I will wager that they have the $5.00 per gallon in their sights because the driving public are already use to the $4.00 per gallon gasoline from last year. Next will come the $6.00 mark and this will be in about three years. Thank you President Obama for letting speculators run amok on Wall Street………
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BossPal
Champion Author Illinois

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Message Posted: Feb 20, 2013 1:21:47 PM

We all are resposible,and if we keep buying gas at the higher price they will continue to raise the price..forcing some to switch to buying electric cars,which would make oil lose some profits and therefore raise the price of gas even higher and higher forcing more people to buy more alternative fueled cars (CNG,Hybryd,Electric) therfore creating more jobs.... yeah right. just a thought LOL
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carefrey
Champion Author Orlando

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Message Posted: Feb 20, 2013 1:21:27 PM

Lets just hope we do not see $4.00 a gallon!
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tpguess
Champion Author San Diego

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Message Posted: Feb 20, 2013 1:21:20 PM

We will in San Diego...
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highdesertman
Champion Author Albuquerque

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Message Posted: Feb 20, 2013 1:20:34 PM

Refineries off-line for repairs and maintenance will reopen. Demand is still shrinking. Except for the usual culprits, like California, most of the country will not likely see $4 gas this year, much less $5.
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Baron62nd
Champion Author Illinois

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Message Posted: Feb 20, 2013 1:20:26 PM

There is a surplus of crude, there is a surplus supply of refined fuel, and it hit $4.059 here in the P.R.I.
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skysteve1
Champion Author Victoria

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Message Posted: Feb 20, 2013 1:19:46 PM

As per CBC TV last night
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xtremecheap
All-Star Author Arkansas

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Message Posted: Feb 20, 2013 1:19:24 PM

Under his regulations "energy prices will necessarily skyrocket".
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skysteve1
Champion Author Victoria

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Message Posted: Feb 20, 2013 1:19:21 PM

So how come Canada sells crude to the USA 30% cheaper ???
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spdude
Champion Author Oakland

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Message Posted: Feb 20, 2013 1:18:37 PM

Wouldn't shock me.
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skysteve1
Champion Author Victoria

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Message Posted: Feb 20, 2013 1:18:29 PM

hope it come down
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skysteve1
Champion Author Victoria

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Message Posted: Feb 20, 2013 1:18:05 PM

I have been paying that here
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flatrock14
Champion Author Michigan

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Message Posted: Feb 20, 2013 1:17:37 PM

put people back to work raise fuel prices ha
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DMG86
Sophomore Author Dallas

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Message Posted: Feb 20, 2013 1:15:53 PM

I hope not!
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sjhman
Veteran Author Atlanta

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Message Posted: Feb 20, 2013 1:15:52 PM

No
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srchr
Champion Author San Jose

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Message Posted: Feb 20, 2013 1:15:15 PM

it's already here
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Zeke33
Champion Author New Hampshire

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Message Posted: Feb 20, 2013 1:14:06 PM

Obummer would welcome it.
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BossPal
Champion Author Illinois

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Message Posted: Feb 20, 2013 1:13:34 PM

.
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Runabout2
All-Star Author Grand Rapids

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Message Posted: Feb 20, 2013 1:13:26 PM

If we do, then we need to march on Washington ! And kick every blood sucking SOB out of capital hill ! These greedy bastards have hurt enough people !
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BeaconLite
Champion Author Ottawa

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Message Posted: Feb 20, 2013 1:11:53 PM

I woould not be surprise thans to the speculators.
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joezIN
Champion Author Gary

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Message Posted: Feb 20, 2013 1:11:11 PM

yes
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nru
Champion Author Twin Cities

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Message Posted: Feb 20, 2013 1:09:38 PM

nooooo
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tonoplast
Champion Author Lexington

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Message Posted: Feb 20, 2013 1:08:42 PM

Big Oil is already demonstrating that if less fossil is used, they will just raise the price to compensate for lessened demand. But electric cars are one way the public could bypass Big Oil to some degree, WHEN AND IF electric cars become affordable for citizens with average incomes.
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Joeatcret
All-Star Author South Carolina

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Message Posted: Feb 20, 2013 1:07:11 PM

We will see a rip-job as usual this year.
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flsharktooth
Champion Author Jacksonville

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Message Posted: Feb 20, 2013 1:06:57 PM

what a bunch of crap. all for $$$$
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101Speedster
Champion Author Ventura

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Message Posted: Feb 20, 2013 1:05:25 PM

This will cause more people to buy electric cars.
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gas_too_high
Champion Author Columbus

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Message Posted: Feb 20, 2013 1:04:10 PM

'About one million barrels per day of refining capacity has been taken off line on the East Coast and St. Croix, as the industry responds to low margins and shrinking demand."

"Shrinking demand?" You mean, because we are using less gasoline, we are being punished with higher prices??

GTH
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rtown
Rookie Author Phoenix

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Message Posted: Feb 20, 2013 1:03:59 PM

They got you used to $2 and hung around. Then it was $3 and then $4. Why not $5? Blame it on...
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EssexAdri
Champion Author Jacksonville

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Message Posted: Feb 20, 2013 1:03:26 PM

see my post in regard to this weeks poll for part of the problem.
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TxPDawg
Champion Author Austin

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Message Posted: Feb 20, 2013 1:02:48 PM

ok
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defense
Champion Author Grand Rapids

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Message Posted: Feb 20, 2013 1:02:46 PM

If you really want to slow the economy raise the minimum wage to $9.00 and raise the price of gas to over $5.00 per gal. That will bring it to a crawl. The higer minimum wage will put alot of small business people out of business. You think we have high unemployment now. This is nothing to what you can expect.
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singlemom27
Champion Author Ventura

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Message Posted: Feb 20, 2013 1:01:04 PM

Like we have any say in the matter...
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MacDad614
Champion Author Atlanta

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Message Posted: Feb 20, 2013 1:00:18 PM

SHUT YOUR MOUTH!

The GREEDY oil companies are looking for people to pave the way to higher and higher profits for them. So far, the press has done a great job at letting the consumer know that it will be "inevitable" that gas prices will continue increasing ... and their obscene profits, also.

STOP DRINKING THE TEA. THIS IS NOT POLITICAL!

[Edited by: MacDad614 at 2/20/2013 4:00:54 PM EST]
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tstoney
Champion Author Ogden

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Message Posted: Feb 20, 2013 12:59:59 PM

No question, our President has been pushing for this
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hibsaw
Champion Author Mississippi

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Message Posted: Feb 20, 2013 12:59:41 PM

Come cnbc. Give us the real reason fuel prices are so high. You sound like the speculators using lame excuses for the high prices.
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defense
Champion Author Grand Rapids

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Message Posted: Feb 20, 2013 12:59:04 PM

I'm sure the oil companies will be happy to oblige you.
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BigDartMike
All-Star Author Ohio

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Message Posted: Feb 20, 2013 12:57:35 PM

Seems if you can think it, it is possible! why stop at $5/gal??
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DrLyon
Champion Author Michigan

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Message Posted: Feb 20, 2013 12:56:14 PM

Hope not...
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coolbreeze1111
Sophomore Author Greensboro

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Message Posted: Feb 20, 2013 12:54:04 PM

Probably
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tidalwave3
Champion Author Tallahassee

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Message Posted: Feb 20, 2013 12:52:41 PM

Yes and possibly $6 a gallon by end of summer THANKS to those that voted Obama & BiteMe back in. In 2008 he said multiple times he would not mind seeing this scenario so as to slow car use. But this will also slow the economy :(
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 12:52:10 PM

We are already up to $4.30 in Los Angeles early in the year, so we are definitely on pace to get to $5 gasoline this year. When the more expensive summer blend additives run low again, gasoline will go much much higher. Plus Obama and the Fed are intent on continuing to weaken the US dollar, and that makes the price of oil more expensive.
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