We will all be at $4 soon enough....although you'll probably be at $5 when that happens:tiphat:

Funny enough, my relatives in Sweden and Norway wouldn't mind paying $4/gal. Maybe the high prices can be a good thing in the long run. I just feel bad for people who can't afford the extra increase, but have no choice but to pay up. I just don't understand how speculation dictates prices instead of supply and demand. I alot of "smart" people in Wall Street are making a fortune on this as we speak, and we aren't producing any less fuel than normal.

3.58...

Libyan Oil Output Falls by Half

Speculation isn't some mythical beast... prices were where they were with no ripples in the supply. Now there are ripples, prices go up.

4.00 a gallon here in Sac, CA

Yes, but the ripples don't justify the percentage increase we've seen in the past couple of weeks. A ripple shouldn't amount to a tsunami. I know oil demand is global, but when you think about it, a small percentage of crude oil from Lybia actually makes it to the US market. We rely heavily on Canada (18%) & Saudi Arabia (11%).

Speculation is very real because the supply hasn't really impacted the global market just yet. Maybe this week, this month or next year, but certainly not two weeks ago. Because the likelyhood is very realistic, the price has increased ahead of the actual demand. The speculators assume that from this point, those who rely on Lybia will go elsewhere thereby increasing demand from other countries who's oil supply is already alocated for. My intent is not downplay the Lybian crisis, because it will affect us sooner or later. I'm just saying, we shouldn't have to pay more until the actual supply decreases. It's like trying to sell a 370z for a million dollars today because it could be worth 2 million a hundred years from now. Thats a bit exagerated, but you get my point?

That's what the market is all about, anticipated future costs.

Regardless, $5 a gallon will be a reality IMO by the end of the year. Economic turnaround = higher oil demand = higher prices.

I own stock in both oil and solar so for me it's all good :tup:

My car is in storage, so I paid way under $3 per gallon back in September.

I think it's now at $3.66 or so for premium in my 'hood.

As a son of a gas station owner let me break it down for you. Say your gas price is $4.00 for premium. We pay Shell $3.10. We pay City, State, & Oil Spill Recovery fee of ~ $.60. We lose $.02-.03 per dollar on credit card swipes so about $.12. We are netting about $.18 per gallon... So that should give you guys an idea of where your money is going..

We already know that.

What makes me mad is that gas prices instantly rise because Libya farts or Iran cries and we pay the price the next day. It's ******* greed.

Shell doesn't control the SC process of its delivery, and these processes are betting on futures of the same gas prices you and I are paying... And Oil hates uncertainty, and when speculation settles in, prices skyrocket.. Im suprised the SPR hasnt put anything into effect. I just want to know at what point they will start unloading. The whole refining process is just as backwards as hybrids..

Remind me again why humanity has decided that betting on futures is a smart thing. :D

4.09 last friday, tonight? 3.95

Sure is. Ran back and filled the wifes' car too.

Premium just went up .10 cents in 1 days!!!! I drove to work yesterday and it was up to 3.65 per gallon....so for us, thats 30 cents since last wed/thurs.

Premium at the local Sam's Club gas station jumped overnight from $3.39 to $3.52 (Charlotte, NC). It's pretty much around $3.70 at other stations.