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Date:         Fri, 4 Mar 2005 23:06:49 -0800
Reply-To:     Tim Olmstead <tim@CWO.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Tim Olmstead <tim@CWO.COM>
Subject:      Re: gas prices going up.....more...
Comments: To: JordanVw@AOL.COM
In-Reply-To:  <7b.40459a19.2f5a174f@aol.com>
Content-Type: text/plain; charset="us-ascii"

You can thank our Chief for that.

-----Original Message----- From: Vanagon Mailing List [mailto:vanagon@GERRY.VANAGON.COM] On Behalf Of JordanVw@AOL.COM Sent: Friday, March 04, 2005 11:56 AM To: vanagon@GERRY.VANAGON.COM Subject: gas prices going up.....more...

and you thought it was bad enough.. last night i put $40 of gas in my car.. its just insane.. chris ----- 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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