Gas Prices ^

[Theo]

OK make that 14 cents per gallon! :-D
http://money.cnn.com/pf/features/lists/global_gasprices/price.html

 

[dvestors]

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[NameYourself]

lol..we need to make our own gas..

And buy hybrids.

 

[Togoodhlth]

Americans also like to drive SUV's and 350 Diesel Trucks..$100 everytime you fill up the tank can kill most people's wallet.
Smaller cars are more popular outside the US, most likely b/c of gas prices...better gas mileage..less you pay.. d

LOL, I have 7 of those F-350 diesel trucks (only 4 fords though).
Diesel here in western MA is more expensive than gas right now.

Guess it's time to start up some bike shops here in the major U.S. cities d

Based on the 80 miles / day worst case work scenario here's some numbers. Figuring 250 work days per year after vacation and weekend days:

80 Miles Driving To Work: 4 gal/day = 1000 gal/yr

Average Cost Today $2/gal To Drive To Work: $8/day = $2,000/yr
Average Cost At $5/gal To Drive To Work: $20/day = $5,000/yr

Count in other places people drive as leisure and overall it would make probably about a $3,000-$5,000/yr difference per vehicle driver per year if it were to go as high as $5/gal. and that person had to drive 80 miles per day to work. Not sure what the overall impact of this would be although I'm sure it would get felt hard, I don't think it could cause a collapse. I'm not an economist though so feel free to add more input to the discussion.

I think everyones missing the point. Its not the driving to work that uses all the fuel.
The gas/deisel prices are going to be felt throughout the country.
Maybe it wont send the economy spiraling downward but the economy was already not so hot in many parts of the country and the increase in fuel costs is going to drive prices up on just about everything.
Let me give you an example:
We receive trailer loads of product every day. The freight varies but averages about $890 per load. We have been receiving increased fuel surcharges each month since March. Started at 1%, then 3% etc etc.
Monday we received a notice that the fuel sur charges will now be at 17% or a 20% increase over what we were paying just 5-6 months ago.

2 of my trucks average over 400 miles a day in deliveries and the others stay local but still do 100 miles per day not to mention my equipment which use diesel fuel.

So today we revised our pricing. Now I have to have the new pricelists printed which will cost around $1000+.
So overall there will be a 3-6% increase in prices across the board.
A product I now sell for $2500 will now sell for $2600+

This is just my small 26 employee company! And this is before the $.50 ++ increases we felt at the pump locally over the past 14 hours.

So imagine the huge box stores who work on tiny margins. They have to increase their prices.
The huge home centers whose products rely on far more fuel not just for manufacturing and transprotation but the products themselves which are petroleum based.

So expect some price increase at the pump and everywhere else.

...
Also, the impact of a raising gasoline cost is tremendous to the economy. Goods will cost more - because they need to be transported. So your calculation should not be linear, it does not include those secondary factors that eventually drive the trend into a parabole.

I wrote my post before you posted this but this is where I was going with my post above.

 

[octobus]

I think that may be part of the reason..we (US) pay lower taxes (on everything) than most of the world (I'm not sure if we pay the absolute lowest but I know we're in the top 3)..I'm sure there are other factors as well..

You do belong to the i nations with lowest cumulative tax rate in relation to GNP.

Though, this comparison only applies between industrialized economies. Some third world countries might not even have an equivalent for IRS

You don't have a low corporate tax on profits at 40% with the state's share included. If my business would ever show a profit , it would only pay 25%.

On the other hand you don't have a general 22% sales tax.. hahah

 

[furca]

100

I saw this the other day at a Petro, I was stunned. It said Racing Fuel

 

[domaindirk]

20 oil rigs missing, and 4 major gas refineries destroyed. It's going to get nasty. Better get you a locking gas cap pretty quick. My 500 mile/week commute is going to morph my Tundra into a Prius very soon.

DD

 

[actnow]

I have a 2004 Ram 2500 diesel.

(We have thoroughbred horses so we use it to haul a large horse trailer.)

I paid $ 2.69 last night (Tues.). And, tonight I paid at the same station $ 2.85.

And, I'm sure I will pay $ 3.10 - 3.20 on friday.

 

[dvestors]

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[Togoodhlth]

I have a 2004 Ram 2500 diesel.

(We have thoroughbred horses so we use it to haul a large horse trailer.)

I paid $ 2.69 last night (Tues.). And, tonight I paid at the same station $ 2.85.

And, I'm sure I will pay $ 3.10 - 3.20 on friday.

Paid the exact same amount yesterday afternoon.
Same station this morning was $2.89 this morning and on my home from work was at $3.11. I expect it will be higher tomorrow morning etc etc.

I need to check diesel prices in the morning.

I'm sure those are company trucks though right? or atleast 6 out of 7? :-D

There's no reason why any person needs a 350+ diesel unless they're moving heavy equipment/cargo around. A friend of mine has a 350 beast just b/c he uses it to move his crotch rocket from place to place..you don't need a 350 to do that..a chevy s10 could hold it..lol..same thing goes for people who drive hummers..those should have never been released in mass quantities..

Yes, all of them are work trucks. They tow big items which we sell and tow equipment so unfortunately we need them.

Yeah, I see tricked out F 350's etc. all modded with a chip and 33" Tires etc. all the time. Some have quads/bikes in the back and an F 150 is the most they would need but I guess they feel the larger truck is better for their image???

 

[Edwin]

One more country to add to the list:

Japan: $4.35 per gallon (equivalent)

 

[SouthernTn]

I heard people were fighting over pumps down here Nashville,Tn - going to $4.00

 

[labrocca]

I wouldn't go so far as to say that it will cause a downfall of an entire nation's economy. Yes it will impact it slightly and people will drive less, simple as that. In many other countries gas has always been this expensive:

Netherlands $6.77
Norway $6.56
Denmark $6.29
Belgium $6.02
UK $6.02

Yeah countries that have so-so economies. I am sort of glad gas is so expensive..maybe finally Detroit will stop making SUVs.

 

[unclewilco]

maybe the US love of fatty foods could be turned into a benefit?

convert your diesel vehicles to run on used cooking oil!.

http://ethanolmarketplace.com/072005_news3.asp

i know of someone lcoally who does it... but there are maybe tax issues with it in the UK.