RSS
May 21, 2008
Oil: Now, $134; Someday Soon, $150
Taken on May 20th at Melrose and Fairfax | Photo by K. Moriarty via LAist Featured Photos on Flickr
In the non-surprise of the day, Oil jumped up in price again--$5, making a barrel of oil now over $134. "All the usual explanations are cited: a weak dollar, production worries, and the role of speculators," noted Mark Lacter in his daily news roundup on LA Biz Observed, where oil now has a cozy quotidian home. "T. Boone Pickens expects oil to hit $150 a barrel, which is no longer much of a stretch"
As of Tuesday, May 20, the average gallon of regular gasoline hit $3.93 for the Los Angeles area, according to LosAngelesGasPrices.com. However, it's not an uncommon sight to see $4 or above for regular gas. Sometimes, the prices get unwieldy, such as the photo above, which shows a station on Melrose and Fairfax selling regular for $4.69.
| 
add to stumble upon
add to reddit
email this
add to facebook
add to del.icio.us
[ report this ]
Does anyone else ever feel like their car doesn't run as well on ARCO gas? Should we start spreading an it's just watered-down BP gas conspiracy or is it just me?
This is great news for the Daniel Plainviews of the world.
Price of a barrel of crude is up 50% since February when gas was in the low-$3/gallon range. At that rate we should be paying $4.50 to $5/gallon any day now.
[ report this ]
I pass that 'Prena' station all the time (PS - is it one-of-a-kind or are there more? I've never heard of that brand.) $4.65/gal is ludicrous!
And then I remember that they're paying the equivalent of $10 a gallon in England and I shut the fuck up.
[ report this ]
The price of a barrel of oil was under $35 when the U.S. invaded Iraq in March 2003.
But don't worry, I'm sure it's just a coincidence.
http://en.wikipedia.org/wiki/Oil_price_increases_since_2003
[ report this ]
That Prena station is always about 20-30 cents more than the market rate. Even last summer they were above $4 for both Plus and Premium.
[ report this ]
I havent put ARCO gas in my car ever since I heard from many people the same thing you are saying Andy. Sure ARCO gas is cheaper than other brands, but then again, I dont want my car to rust from the inside out either. Dont touch that stuff.
[ report this ]
"The price of a barrel of oil was under $35 when the U.S. invaded Iraq in March 2003."
But, but, but, the war was going to pay for it's self, and gas was supposed to get CHEAPER!
They wouldn't lie to us...would they?
[ report this ]
@jrb: History will judge that we won the war, saved Springfield, and that the slight rise in the price of gas was merely collaterally for the decreasing surcharge on "freedom."
Just wait. We'll secede. I mean succeed ;-)
[ report this ]
"History will judge that we won the war..."
Depends on who's writing it I guess.
Anyone been watching the Winter Soldier hearings? Returned Iraq Veterans are giving some interesting testimony.