Gas prices again.......

[singpilot]

They are up .10 cents a gallon in 3 days here in LaLaLand. $2.49 at the cheapo places, $2.89 for the premium.

This morning's commodities report is saying $3./gal again real soon. After crude hitting >$70./barrel not long ago, that is no longer a threshold. The threats in Iran (both directions) as well as Venezuela will make the upward push easier this time.

I'm filling my spare jugs as a hedge for the moment. Anyone else seeing the price rise as bad as here?

[ubiquity0]

I was surprised last week when I was on the East Coast (NY, MA, NH & ME) that gas was more than in the Bay Area, which is almost always claimed to be the most expensive in the US.

I'm guessing the East Coast is still hurting a little from Katrina, as well as everything else.

[cstreit]

Time to put the oil-execs back in front of Congress....

[juanbenae]

Originally posted by cstreit
Time to put the oil-execs back in front of Congress....

yeah, there was a sharp drop after their last time they got it handed to them up on the hill. it creeps up again as soon as the smoke cleared.

[Joeaksa]

I always keep 20-40 gallons stashed in the hangar. Its rotated as the price changes. Worth having in case "its needed" for a roadtrip...

JoeA

[singpilot]

Joe;

I'm thinking your hangar and my hangar look a lot alike. I have to keep some diesel as well for the truck. Kerosene too, haha. Came across a deal on sterile 50-gal. drums. They are full of water, and make a great base for a workbench. I spent yesterday rearranging everything in there for the coming earthquake.

[sammyg2]

Gas has a shelf life so don't try to store it long term.
I actually like high gas prices and would like to see it well above $3 a bbl, because I saw it coming about 7 years ago and sunk just about everything I had into a few oil company stocks. Now when i have to pay an extra $20 per tank I actually profit by many, many times as much. That is a better hedge than trying to hoard gasoline.
Or..... you could invest in gasoline futures. if the price goes up you make money and don't have to worry about having a potential bomb in your garage that will go bad over time.
We can be victims or we can be victors, it's up to us.

[RickM]

After Katrina quieted I saw gas as low as $1.99 pg here in NNJ (Cheaper south of me)....as of yesterday the cheapest place is $2.25.

[singpilot]

As it happens, I had used all the gas I had after the last runup in prices. I keep track of the price of what I buy, and it is an approved dispenser. The hangar is approved and externally marked for the storage of the quantity I have. I have less than 5 gals. of kerosene, it's not in my official inventory, but a few more cold nights and even that may be gone. Having multiple motorcycles teaches you about the shelf life of gasoline. You miscalculate, you get to remove and disassemble multiple carbs. Do that once, and you'll drain or use any gas left over in the tanks.

Congrats on the futures purchases. Maybe we should have you in front of congress, haha. Who do you suppose pays for your profits in that market?

[livi]

Ahh, stop your whining. Last year the pump stations here had to change all their price signs when the price per liter went from one to two digits.

Wonder how Hamas leadership will affect gas prices.. Is Mr Bush going berserk yet ?

[singpilot]

Markus;

That's right. Funny, I was telling someone much younger than me about how I remember all the pump mods that had to be done when gas went over $1.00 a gallon.

'Gas wars' ..... where several stations grouped around the same intersection would have price wars.

We used to grouse when it went above .25 a gallon. A buck would put 4 gallons in your '62 Chev. Enuf to get you to school, to your GF's house with her after school, and to your job, and back home again daily.

You're right. We're whining.