gas prices going up.....more...

JordanVw at JordanVw at
Fri Mar 4 14:56:16 EST 2005

and you thought it was bad enough..  
last night i put $40 of gas in my car..  its just insane..
from USA today:
(March 4) Gasoline prices could rocket 24 cents a gallon the next few days, 
as stations across the USA scramble to keep up with big jumps in the prices of 
oil and wholesale gas, a veteran energy-price analyst forecast Thursday.

"It's going to be brutal, horrendous," says Peter Beutel, president of 
energy-price tracker Cameron Hanover. He has followed energy markets for nearly 
three decades.

Thursday, light, sweet crude oil for April delivery traded as high as $55.20 
a barrel in New York before closing at $53.57.

A 24-cent jump in the price of gas would bump unleaded regular to a 
nationwide average of about $2.16 a gallon, blowing through last May's record of about 
$2.06. It could go higher as increased warm-weather driving in another two 
months pushes up demand, and therefore prices, forecasters say.

Adjusted for inflation, gas would have to hit about $2.95 for a record.

The price increase translates to "$90 million a day, every day that it 
remains in effect," which could be several months, Beutel says.


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