Gas Prices Check-in

[Charger_Fan]

So what's the reason for the price jump this time?   

About 10 days ago, I heard on the radio that the price per barrell had spiked again...I don't remember what the new high was. I'm actually surprised the prices at the pump didn't jump the very next day.

They jumped today (here in SLC Utah), though...$2.71 this morning, and $2.82 in the evening on my way home. Yep, I had to gas up on the way home.


But things are sorta looking up for me in that regard, I just snagged myself a 93 Dodge Shadow 2.2/5-speed for my new daily driver.
My 82 Crown Vic got a best of 19.6mpg, the Shadow will hopefully be in the 35mpg range.

[gtx6970]

Was 2.89 thursday morning - 3.15 thursday night -  2.99 friday night   

[Nacho-RT74]

eeeeehm... I like this kind of post once more...

aproximatelly US$0,05 by liter by 95 octane fuel

aproximatelly US$0,04 by liter by 91 octane fuel

both unleaded

[TheGhost]

$2.99 9/10 yesterday.

[BigBlackDodge]

Just wait till the hurricanes come.....................5.00 a gallon easy.

I predict record profits for the poor oil companys once again.


2.99 here for 87


BBD

[dodgecharger-fan]

1.11 per litre near Toronto for regular 87 Octane

That works out to about $3.60 per gallon.

Edit: Actually, another conversion gave me $4.20 per gallon...

[Chryco Psycho]

$1.15 / lt here in AB for 87 / regular 

[firefighter3931]

$1.06/litre at 0630 today here in Ottawa, Ontario. That's for the cheap 87 octane pump swill. 


Ron

[dodge freak]

Speaking of Canada, I live by Detroit and went to Windsor ON for a day 2 years ago with my car and fill the tank up in Canada with that 87 stuff and it ping all the way home if I step hard on it. Now the 87 stuff I get here in Michigan never pings. I know I was not hearing things-I hope- just wonder what happen or maybe the gas was old or something? Wounder if 87 in Canada is different than 87 in the USA ?

[ralley72]

its up to $ 2.96 today in the Kansas City, Mo. area for 87 oct. I get to drive 120 miles a day round trip, my new trucks gets around 21 mpg. adds up fast.

[TruckDriver]

Well, we can toss all these prices out the window now. I just heard on the news, that a major pipeline in Alaska which supplies 8% of America's oil needs to be shut down because of a leak and some bad corrosion. They said prices could jump as much a $2.00 a gallon in some places.

[4402tuff4u]

eeeeehm... I like this kind of post once more...

aproximatelly US$0,05 by liter by 95 octane fuel

aproximatelly US$0,04 by liter by 91 octane fuel

both unleaded

Dayum!! That's cheaper than water up here in the north and probably the good stuff too!! Nacho, that's it, I'm running a hose from my place to yours 

[Nacho-RT74]

is cheaper than water even here buddy !!! Water liter bottle here is about US$0,75

Gasoline has been partially subsidied by goverment since ever!!! Is too much cheap as my thoughts, but...

[dodge freak]

People need gasoline-its like water so I understand the government helping out. Either that or have more public transportation. Where I live there is nothing, not even a bus to go to work or the store and gas is still going higher yet. It used to start going down by late summer.

[Lightning]

We're screwed now....on AOL news it said that a oil pipe over-corroded coming from one of BP's Alaska fields.  It's gonna have to be shut down for awhile to fix it, but shutting each side is gonna take about 24-36 hours...so we may see $3.50 gasoline.

[Charger_Fan]

Sounds like for once I had good timing with something, by buying a more economical commuter car last week.

[dodge freak]

No kidding. Smart move.

[TruckDriver]

We're screwed now....on AOL news it said that a oil pipe over-corroded coming from one of BP's Alaska fields.  It's gonna have to be shut down for awhile to fix it, but shutting each side is gonna take about 24-36 hours...so we may see $3.50 gasoline.

I hate to tell you this, were already seeing $3.50 a gallon for gas here. BUT, read this one guys.....


http://news.yahoo.com/s/ap/20060807/ap_on_bi_ge/oil_field_shutdown

ANCHORAGE, Alaska - BP said Monday it discovered corrosion so severe that it will have to replace 16 miles of pipeline at the huge Prudhoe Bay oil field — work that could shut down the nation's single biggest source of domestic crude for months and drive gasoline prices even higher.

Oil prices climbed more than $2 a barrel on the news, and gasoline futures rose, too. The West Coast is expected to be squeezed particularly hard, and the government is considering releasing oil from its emergency stockpile to ease the crunch.

BP PLC said it will have to replace most of the 22 miles of so-called transit pipeline at Prudhoe Bay, which produces about 2.6 percent of the nation's daily supply, or about 400,000 barrels a day.

BP, the world's second-largest oil company, discovered the extent of the corrosion with tests that were ordered by the federal government after a big oil spill last March at Prudhoe Bay, situated above the Arctic Circle, 650 miles north of Anchorage.

The oil company said it was surprised to find such severe corrosion, and had gone 14 years without using a device called a "pig" to clean out its lines because it did not believe it was necessary.

Bob Malone, chairman of BP America, said that in a worst-case scenario, it could take weeks or months to replace the pipelines. But the company said it will try to put portions of the network back into operation as they are repaired.

"BP deeply regrets it has been necessary for us to take this drastic action," Malone said.

BP operates the Prudhoe Bay oil field for itself and for other oil companies, namely ConocoPhillips and ExxonMobil. Prudhoe Bay and other oilfields on Alaska's North Slope feed oil into the 800-mile trans-Alaska pipeline. The North Slope produces approximately 800,000 barrels a day; Prudhoe Bay accounts for half of that.

BP officials said they did not immediately know how much it would cost to replace the lines. The company made $7.3 billion in profit during the most recent quarter.

"We estimate it could take between 2-3 months to get it back on line," Bruce Lanni, an industry analyst with A.G. Edwards, wrote in a research note. "However, there are no assurances that it will return to current capacity, given the complexities and age of the reservoirs. Thus, we would not be surprised to see volume losses in the area of 5 percent to 10 percent."

Steve Marshall, president of BP Alaska Exploration Inc., said tests Friday indicated that there were 16 anomalies in 12 areas in a transit line on the eastern side of Prudhoe Bay. Tests found losses in wall thickness of between 70 percent and 81 percent. Repair or replacement is required if there is more than an 80 percent loss.

BP also said Sunday that workers found a small spill of about four to five barrels.

The aging pipeline system on the North Slope has been fraught with problems lately.

BP discovered corrosion in the transit lines only after the U.S. Transportation Department ordered their inspection following a spill of up to 270,000 gallons in March. It was the biggest spill in North Slope history, and has become part of a criminal investigation into the company's Alaskan operations.

Company officials said they did not believe a routine maintenance "pigging" of those lines was necessary because they carry clean crude from which water has been removed.

Marshall said the company believed ultrasonic testing of pipeline wall thickness was sufficient. But he said the company has since learned otherwise.

"Clearly, we are already in the process of adjusting considerably our corrosion program," Marshall said.

The news sent the price of light, sweet crude oil up 2.22, or 3 percent, to settle at $76.98 a barrel Monday on the New York Mercantile Exchange, after peaking at $77.30 earlier in the day

The average U.S. retail price of a gallon of unleaded, regular gasoline was $3.036 on Monday — near its all-time high of $3.057, reached Sept. 5 after Hurricane Katrina hit the Gulf Coast.

Gasoline futures also rose, indicating that the market expects prices at the pump to increase further.

Because of the disruption of supplies, the Energy Department said it is prepared to provide oil from the government's emergency supplies if a refinery requests it.

"If there is a request for oil we'll certainly take a serious look at that," spokesman Craig Stevens said.

California gets about 20 percent of its oil from Alaska, with the remainder coming from in state and foreign sources.

The reserve has about 700 million barrels in storage on the Gulf Coast to be used in case of a serious supply disruption. The Energy Department in the past has lent some of the oil to refineries when there were disruptions because of pipeline problems or other troubles.

Bill Hedges, BP's technical expert on corrosion, said the Prudhoe Bay pipelines were initially designed to last 25 years, but have now lasted 29 years, with many of the lines in "excellent condition."

The company said it is spending $72 million this year to fight corrosion, up from $60 million last year. BP puts millions of gallons of corrosion inhibitor into the pipelines each year. It also examines pipes via X-rays and ultrasound images.

BP has a 26 percent stake in the Prudhoe Bay field, meaning its own production would be cut by 100,000 barrels a day, or around 2.5 percent of the company's worldwide production, said spokesman David Nicholas. He declined to say what the effect might be on earnings.

U.S. shares of BP PLC fell $1.19, or 1.6 percent, to $71.35 in morning trading on the        New York Stock Exchange. Shares of BP Prudhoe Bay Royalty Trust, which derives revenue from royalties of BP's Prudhoe Bay oil, fell $9.12, or 10.4 percent, to $78.77 on the NYSE.

___

AP Writers Matt Volz in Juneau, Alaska, and Jane Wardell in London contributed to this report

[dodge freak]

And here I thought the guys saying gas might cost $4-$5 a gallon were nuts. Hope it does not go that high but nothing will surprise me now. This is BS that we all have to pay more cause BP did not keep the pipe line in good shape. That should be their problem not ours. Here the company will make out ok cause their oil they still do have is worth more. What  is our government  doing for us ?  Notice that this did not happen in Canada or Mexico. This is so wrong and BP will not even get a fine , no, they just say oh well shit happens.

Here all the oil company's are making billions of dollars every quarter and they can not build a new secondary pipe line ? They should have to make sure the pipe line is in good shape. I could understand if they were losing money but they are making record profits. That was to last 25 years , its 29 years old now and they have not even started building a new one yet ?

The airlines just don't wait until a motor leaks oil, they maintain them by how many hours they run. The oil company's should have to keep their equipment in good shape. This is the same company that a refinery blew up in Texas just last year killing 14 of it workers. Shame on them!

[BigBlackDodge]

And here I thought the guys saying gas might cost $4-$5 a gallon were nuts. Hope it does not go that high but nothing will surprise me now. This is BS that we all have to pay more cause BP did not keep the pipe line in good shape. That should be their problem not ours. Here the company will make out ok cause their oil they still do have is worth more. What  is our government  doing for us ?  Notice that this did not happen in Canada or Mexico. This is so wrong and BP will not even get a fine , no, they just say oh well shit happens.

Here all the oil company's are making billions of dollars every quarter and they can not build a new secondary pipe line ? They should have to make sure the pipe line is in good shape. I could understand if they were losing money but they are making record profits. That was to last 25 years , its 29 years old now and they have not even started building a new one yet ?

The airlines just don't wait until a motor leaks oil, they maintain them by how many hours they run. The oil company's should have to keep their equipment in good shape. This is the same company that a refinery blew up in Texas just last year killing 14 of it workers. Shame on them!

They have it figured out all right.......................the less we produce the more money we make! Go figure!


BBD

[Brock Samson]

tonights news says gas prices are going up 20 cents per gallon here in calif. 

[TruckDriver]

This morning, there saying the west coast is going to get the worst of this. Could see I 1 to 2 dollar jump in prices because you guys get most of your oil from Alaska.

[Nacho-RT74]

now, about engine oil.... How much do you pay for the 20-50 1/4 gal ?
I pay around $3

[dodge freak]

I pay $3 a quart-what you mean 1/4 gallon, is that like 5 quarts , thats how much oil a stock oil pan with a filter change takes.

[4402tuff4u]

I pay $3 a quart-what you mean 1/4 gallon, is that like 5 quarts , thats how much oil a stock oil pan with a filter change takes.

I think Nacho means 1/4 of gallon = 1 quart

$ 3 per quart in Venezuela? I would think it would be around $ 1.50 per quart!!