Full disclosure: I work for Big Oil so some of you might feel I'm just trying to stir up fear to line my own pockets. Hopefully most of you know me well enough to realize I'm trying to help.

The price of oil shot up almost $4 per barrel today due to the massive rioting on Egypt. Violence is spreading along the Egyption side of the Suez canal, through which a fair amount of oil still passes. The citizens of other Middle Eastern countries are also starting up against their governments. So far the House of Saud in Saudi Arabia hasn't come under attack, but civil unrest/outright rebellion has been brewing there for a long time, too. If things go hot in Saudi then oil prices will skyrocket.

US workers are already being brought home from certain M.E. countries for safety/security reasons. I seriously hope this all blows over fast but if it doesn't all hell is going to break loose in the oil market.

-Blast

Thanks Blast, my thoughts exactly.

Just what we were talking about at dinner. Price paid today was $3.28 / gal Daytona Beach.

Paid $7.80 USD (@ current exchange rates) for 1 US Gallon of Unleaded Petrol here today or $9.29 for a Gallon (Imperial). Talk is that the cost of a US Gallon this summer is predicted to go to $10.66 USD. (that is still with a stable political situation in the middle east). The UK All party parliament group on peak oil has also recently been talking about future petrol rationing.

http://www.appgopo.org.uk/

If a tank of gas lasts you several months, go ahead and panic and go fill it up tonight. But if you are more typical in your gas consumption, you're only putting off the inevitable for a week or so, so not really worth it.

How dare you panic buy and hoard gas from those that need it
My wife gets gas about every 1.5 months, we live in a small neighborhood that fills in a gap between offices and shopping so everything we need is within walking distance if there would have been sidewalks and crosswalks.

Thanks Blast.

Gas here is hovering around $1.22 per L (%5.50 gallon) Cheapest I seen it about 100 miles northeast of here today was $1.09 per L ($4.96 gallon) so I filled the car and topped up the 5 gallon jerry can in the trunk.

I'll be watching the pump prices closely now.

Gas here in WA is about $3.30/gal, a bit cheaper in Seattle.

The price will probably go up... Although how much is due to ME frictions, and how much to the manipulations of the speculators could be argued.

Sue

Hey Blast,Thanx for the Info! It's $3.55 a Gallon in some places Here in L.A.,Tonight Presently!

I'm in complete agreement with your assessment. Other factors will come into play possibly as well, compounding a bad situation into a worse situation!!!