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#215863 - 01/28/11 09:11 PM Fill your gas tanks, folks.
Blast Offline
INTERCEPTOR
Carpal Tunnel

Registered: 07/15/02
Posts: 3561
Loc: Spring, Texas
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
_________________________
Blogging the Borderlands
Wild Edibles Blog
I miss OBG.

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#215867 - 01/28/11 09:43 PM Re: Fill your gas tanks, folks. [Re: Blast]
rebwa Offline
Enthusiast

Registered: 01/25/09
Posts: 295
Thanks Blast, my thoughts exactly.

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#215869 - 01/28/11 10:02 PM Re: Fill your gas tanks, folks. [Re: Blast]
bojr Offline
BillyO
Stranger

Registered: 08/10/08
Posts: 8
Loc: Daytona Beach, Florida
Just what we were talking about at dinner. Price paid today was $3.28 / gal Daytona Beach.

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#215871 - 01/28/11 10:32 PM Re: Fill your gas tanks, folks. [Re: bojr]
Am_Fear_Liath_Mor Offline
Carpal Tunnel

Registered: 08/03/07
Posts: 3078
Quote:
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/

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#215876 - 01/29/11 12:15 AM Re: Fill your gas tanks, folks. [Re: Am_Fear_Liath_Mor]
haertig Offline
Pooh-Bah

Registered: 03/13/05
Posts: 2117
Loc: Colorado
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.

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#215879 - 01/29/11 02:06 AM Re: Fill your gas tanks, folks. [Re: Blast]
Eugene Offline
Carpal Tunnel

Registered: 12/26/02
Posts: 2840
How dare you panic buy and hoard gas from those that need it smile
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.

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#215881 - 01/29/11 02:29 AM Re: Fill your gas tanks, folks. [Re: Blast]
Teslinhiker Offline
Veteran

Registered: 12/14/09
Posts: 1400
Loc: Cranbrook BC (Finally)
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.
_________________________
Earth and sky, woods and fields, lakes and rivers, the mountain and the sea, are excellent schoolmasters, and teach some of us more than we can ever learn from books.

John Lubbock

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#215885 - 01/29/11 03:19 AM Re: Fill your gas tanks, folks. [Re: Blast]
Susan Offline
Geezer

Registered: 01/21/04
Posts: 5163
Loc: W. WA
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

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#215888 - 01/29/11 03:48 AM Re: Fill your gas tanks, folks. [Re: Blast]
Richlacal Offline
Old Hand

Registered: 02/11/10
Posts: 778
Loc: Los Angeles, CA
Hey Blast,Thanx for the Info! It's $3.55 a Gallon in some places Here in L.A.,Tonight Presently!

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#215893 - 01/29/11 05:57 AM Re: Fill your gas tanks, folks. [Re: Blast]
wildman800 Offline
Carpal Tunnel

Registered: 11/09/06
Posts: 2818
Loc: La-USA
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!!!
_________________________
QMC, USCG (Ret)
The best luck is what you make yourself!

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