(no subject)

[vixenesque93]

Gas price predictions for the next 6-24 months

It sucks. But I really can't say I find it surprising.

From what I can tell, anyone who's been paying attention saw this coming quite some time ago. Seeing $4.00 a gallon at the pump doesn't even phase me, and I've been driving since it was $1.19 a gallon. Is $5.00 a gallon coming? I wouldn't be surprised if we hit that this summer. Diesel's already up to that point.

Comments

[bigby2k.livejournal.com]

It doesn't surprise me at all. The planetary oil supply is approaching depletion and there really is no viable alternative.

[eneogei.livejournal.com]

Phhoooo, thank the gods for 70-90 mile/gallon Seamus the Scooter. We're not driving the Subaru much at all anymore...

ETA: Also, nice weather for walking to errands. Helps that we're in Bellingham, near downtown.

[ashley-y.livejournal.com]

Makes sense. If supply is reduced, consumption has to reduce to match it. So that means gasoline prices have to get high enough to make people actually use less, i.e. when people start saying "I just can't afford it because of the gas price". $6-$7 sounds very likely.

[damiana-swan.livejournal.com]

Yup, the price is going to keep going up.

Part of that is the whole supply/demand thing--the supply is pretty much maxed out, and the demand hasn't been going down much even with significantly higher prices.

Then there's the whole economy thing. The dollar is losing value steadily on the international market, in large part because the Bush administration is putting the Iraq war on credit (and our main creditor is China) and they're just printing money to cover it without backing that money with anything. As long as they keep doing that, the value of the dollar is going to keep dropping, which means that the number of dollars it takes to buy each barrel of oil is going to keep going up.

Thank gods Seattle has a decent transit system!