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Author	Topic: Dow hits 2-year high, gasoline prices follow	Post a Reply Back to Topics

PD Moderator	Message Posted: Dec 17, 2010 11:45:40 AM Ignore PD Report Abuse Just as the Dow hit a two year high this morning, retail gasoline prices are climbing ever so close to the magical $3/gallon mark. For gasoline prices, it would be the first time the national average has breached $3/gal since October, 2008. Is it a coincidence that gasoline prices have climbed to similar highs when compared to the Dow Jones Average? Not at all. As goes the economy, as goes gasoline prices. Let me explain for those who aren't making the connection: as the economy improves or performs well, people feel better, are generally doing acceptably, and consume more gasoline in their pursuit of happiness- be it more shopping, vacations, or just driving to be social. The connection is remarkable. While unemployment... Visit GasBuddy Blog for full article

Moderator

Message Posted: Dec 17, 2010 11:45:40 AM

Ignore PD Report Abuse

Just as the Dow hit a two year high this morning, retail gasoline prices are climbing ever so close to the magical $3/gallon mark. For gasoline prices, it would be the first time the national average has breached $3/gal since October, 2008.

Is it a coincidence that gasoline prices have climbed to similar highs when compared to the Dow Jones Average? Not at all. As goes the economy, as goes gasoline prices. Let me explain for those who aren't making the connection: as the economy improves or performs well, people feel better, are generally doing acceptably, and consume more gasoline in their pursuit of happiness- be it more shopping, vacations, or just driving to be social. The connection is remarkable.

While unemployment...

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POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Dec 21, 2010 8:59:07 PM Ignore POLELANE Report Abuse DOW; Dumb Old Way; we've got to develop new better ways to correlate prices
honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Dec 20, 2010 12:10:58 AM Ignore honda0105 Report Abuse only way we can stop the ever upward trend of higher prices is by finding renewable alternative fuel sources. Not by digging more fossil fuels out of the ground.
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,624,400 Joined:Jun 2008	Message Posted: Dec 19, 2010 11:38:32 PM Ignore DrCashFlow Report Abuse what goes up must come down.
Martinman Champion Author Mississippi Posts:14,724 Points:2,090,905 Joined:Sep 2005	Message Posted: Dec 19, 2010 9:47:47 AM Ignore Martinman Report Abuse Sorry PD, but the "as goes Wall Street, so goes the price of crude oil and gasoline..." is just another of the excuses that Wall Street has been pushing on the public. Demand continues to wane, and there continue to be reports of declines in gasoline consumption. The purported connection between the two is NOT remarkable. What is remarkable, is the fact that people are buying it - buying the 'bull' from Wall Street. Given the current state of not only the U.S. economy, but economies around the world, people should shudder at what the speculator driven prices mean for consumers. To what level will they "push" crude oil, once the economies around the globe recover to their 2004/2005 pre-recession levels when crude oil was well below $50 per barrel? Based on the current mentality, $147 per barrel will look very good if people contuinue to accept this "reasoning" of why gas prices are higher... [Edited by: Martinman at 12/19/2010 9:52:47 AM EST]
remay Champion Author Houston Posts:6,953 Points:2,114,690 Joined:May 2006	Message Posted: Dec 18, 2010 3:12:06 PM Ignore remay Report Abuse conserve, conserve, conserve!
52MPG Champion Author Dayton Posts:7,247 Points:1,738,780 Joined:Apr 2006	Message Posted: Dec 18, 2010 11:14:20 AM Ignore 52MPG Report Abuse Right on nervous
Lugi1967 Champion Author Ohio Posts:4,773 Points:999,220 Joined:Jun 2010	Message Posted: Dec 18, 2010 10:20:29 AM Ignore Lugi1967 Report Abuse Everybody gets thier cut
ke0em Rookie Author Colorado Springs Posts:12 Points:35,390 Joined:Oct 2010	Message Posted: Dec 18, 2010 10:05:40 AM Ignore ke0em Report Abuse Of course I pay the exact same price for denim pants or a gallon of mile or a loaf of bread as I did in 1965. Not even. it is called 'Supply and Demand' along with inflation. We are now going into Hyper inflation just like Germany did before WWII because of all the money printing that the libs are doing. Watch what happens next.
ke0em Rookie Author Colorado Springs Posts:12 Points:35,390 Joined:Oct 2010	Message Posted: Dec 18, 2010 9:58:57 AM Ignore ke0em Report Abuse To the folks that think it is all the fault of the speculators or that they want to rid the world of them, I'll bet that you go to a casino every once in a while or gamble. DO you enter your points in the gas drawing right here on this site! Give me a break. You are a hypocrite if yo think you can get rid of speculators.
ke0em Rookie Author Colorado Springs Posts:12 Points:35,390 Joined:Oct 2010	Message Posted: Dec 18, 2010 9:54:59 AM Ignore ke0em Report Abuse 10 years ago a bunch of us said we needed t drill for more oil. They said it would take 10 years before we would ever see any benefit for that so they didn't. Now it is 10 years later and we don't have any benefit from ANYTHING. I want the party of No to tell me how they are going to help me instead of making excuses. And don't bring up the oil spill. If we were drilling on land or shallow water like Alaska that would never have happened. Period.
DerHahn Champion Author Illinois Posts:13,693 Points:2,111,210 Joined:May 2004	Message Posted: Dec 18, 2010 8:15:01 AM Ignore DerHahn Report Abuse without any jump in wholesale gas prices, pump prices around here at every station jumped from 2.82 to 3.09 the other day. but of course no one but the consumers see this price gouging and all the screaming we do falls on deaf political ears.
JimTee Champion Author Tampa Posts:2,357 Points:1,513,325 Joined:Apr 2006	Message Posted: Dec 18, 2010 8:04:30 AM Ignore JimTee Report Abuse We have a bunch of morons speculating on the price of oil.
fratt Champion Author Grand Rapids Posts:9,810 Points:2,642,005 Joined:Jul 2005	Message Posted: Dec 18, 2010 5:33:20 AM Ignore fratt Report Abuse Get rid of ALL speculators!
twobroke61 Champion Author Michigan Posts:8,365 Points:1,586,335 Joined:Sep 2008	Message Posted: Dec 18, 2010 5:30:06 AM Ignore twobroke61 Report Abuse what do you mean close to 3.00 a gallon ours is 3.03 right now how is that for close
Beau2140 Champion Author New York Posts:8,281 Points:1,654,235 Joined:Oct 2008	Message Posted: Dec 18, 2010 5:09:45 AM Ignore Beau2140 Report Abuse They are connected.
rippertoo Champion Author Tacoma Posts:5,740 Points:1,138,910 Joined:Jan 2010	Message Posted: Dec 18, 2010 5:05:00 AM Ignore rippertoo Report Abuse Give me a break.
4thWatch Champion Author Pennsylvania Posts:2,066 Points:602,885 Joined:May 2008	Message Posted: Dec 18, 2010 5:04:08 AM Ignore 4thWatch Report Abuse Wall Street and Oil.........."The two shall be as one."
DarthDadJr Champion Author Virginia Posts:7,297 Points:1,518,045 Joined:Jul 2008	Message Posted: Dec 18, 2010 4:52:51 AM Ignore DarthDadJr Report Abuse I understand that stock market is a leading indicator about the recovery, but since when is gas one too.
cheapertvs Champion Author Richmond Posts:10,269 Points:2,738,795 Joined:Jan 2004	Message Posted: Dec 18, 2010 4:51:33 AM Ignore cheapertvs Report Abuse Its moving the wrong way!!! I want my $ 4.50 per barrel oil back!!!
72_Monte Champion Author Twin Cities Posts:7,755 Points:1,993,535 Joined:Aug 2005	Message Posted: Dec 18, 2010 4:46:09 AM Ignore 72_Monte Report Abuse I'm not sure I'll survive all of this recoverin'.
dslxcur Champion Author Seattle Posts:1,971 Points:1,523,445 Joined:Sep 2007	Message Posted: Dec 18, 2010 4:44:52 AM Ignore dslxcur Report Abuse Dang! .......................... A Steady Slow Diet As........................... The Pump Prices Creep Up.......................... Before You Know It............................... $4.00 Will Be The Norm........................................
Hunter724 Champion Author New Hampshire Posts:8,106 Points:1,643,150 Joined:Sep 2008	Message Posted: Dec 18, 2010 4:41:08 AM Ignore Hunter724 Report Abuse Get rid of the speculators.........
BigDogOH Champion Author Cincinnati Posts:8,488 Points:1,804,895 Joined:Mar 2008	Message Posted: Dec 18, 2010 4:40:17 AM Ignore BigDogOH Report Abuse Can't blam bush this time.
bama56 Champion Author Alabama Posts:3,607 Points:1,390,890 Joined:Nov 2008	Message Posted: Dec 18, 2010 4:34:22 AM Ignore bama56 Report Abuse why
georgeo Champion Author California Posts:4,172 Points:179,115 Joined:May 2009	Message Posted: Dec 18, 2010 4:17:17 AM Ignore georgeo Report Abuse The Republicans will soon have to reveal themselves when it comes to gas and oil prices. Are they with the American people or they with Big Oil and OPEC.
MDTDriver Champion Author California Posts:9,714 Points:2,152,695 Joined:Jul 2006	Message Posted: Dec 18, 2010 3:54:56 AM Ignore MDTDriver Report Abuse follow means $5 by 2011
ED6 Champion Author Riverside Posts:9,469 Points:1,848,205 Joined:Jul 2007	Message Posted: Dec 18, 2010 3:53:31 AM Ignore ED6 Report Abuse It's already more than $3 here in SoCal.
Skipper52 Champion Author Massachusetts Posts:7,398 Points:1,588,935 Joined:Oct 2008	Message Posted: Dec 18, 2010 3:47:21 AM Ignore Skipper52 Report Abuse It will be 3 before Jan 2011 and 4 by July 2011.
cheapmonkee Champion Author Portland Posts:30,295 Points:3,167,735 Joined:Jun 2004	Message Posted: Dec 18, 2010 3:41:09 AM Ignore cheapmonkee Report Abuse redrum
hwnguy Champion Author Honolulu Posts:3,843 Points:1,384,725 Joined:Apr 2008	Message Posted: Dec 18, 2010 3:33:36 AM Ignore hwnguy Report Abuse forget $3, how about $3.50?
bobdec Champion Author Miami Posts:8,949 Points:1,766,795 Joined:May 2008	Message Posted: Dec 18, 2010 3:32:57 AM Ignore bobdec Report Abuse Prices went over $3 at most stations earlier this week
Pozole Champion Author Portland Posts:9,579 Points:1,591,595 Joined:Mar 2005	Message Posted: Dec 18, 2010 3:29:46 AM Ignore Pozole Report Abuse ...but of course...the new terrorists - - the speculators - - will see us crash and burn with their greed for profit...
Sam195 Champion Author San Bernardino Posts:8,075 Points:1,572,150 Joined:Oct 2008	Message Posted: Dec 18, 2010 3:11:14 AM Ignore Sam195 Report Abuse I wish my income would go up.
findcheap Champion Author Los Angeles Posts:9,582 Points:2,006,950 Joined:Apr 2007	Message Posted: Dec 18, 2010 3:10:46 AM Ignore findcheap Report Abuse passed $3 long ago in L.A.
RENEGADEGAS Champion Author Missouri Posts:14,894 Points:1,588,300 Joined:Jul 2008	Message Posted: Dec 18, 2010 3:09:27 AM Ignore RENEGADEGAS Report Abuse Down a nickel in Branson, Missouri
NavyEOD Champion Author Los Angeles Posts:9,991 Points:2,018,225 Joined:Jul 2007	Message Posted: Dec 18, 2010 3:08:19 AM Ignore NavyEOD Report Abuse Prices jumping up out here.
dcjauburn Champion Author Sacramento Posts:12,417 Points:2,236,665 Joined:May 2005	Message Posted: Dec 18, 2010 2:52:58 AM Ignore dcjauburn Report Abuse If we are buying more gasoline, then OPEC is making more money, so why do they also have to increase the price per gallon. It sounds like greed to me. They will not learn until we start replacing our gasoline driven vehicles with vehicles that do not consume gasoline. [Edited by: dcjauburn at 12/18/2010 2:54:11 AM EST]
jdhelm Champion Author Iowa Posts:11,813 Points:1,195,965 Joined:Dec 2009	Message Posted: Dec 18, 2010 2:46:28 AM Ignore jdhelm Report Abuse The connection is also remarkable for oil trader commissions
comprof Champion Author Houston Posts:6,844 Points:1,353,825 Joined:Jul 2009	Message Posted: Dec 18, 2010 2:29:22 AM Ignore comprof Report Abuse My family has not taken a vacation since 2000, I live 0.5 miles from work with two grocery stores in between. I am unable to walk so I do not know how I can reduce gas use any more.
Matt G Champion Author Boston Posts:4,518 Points:2,770,115 Joined:Jun 2004	Message Posted: Dec 18, 2010 2:21:33 AM Ignore Matt G Report Abuse Stock market up, gas prices will follow, tax cut, gas prices up, how is a working man suppose to get a break?
1momsunshine Champion Author Ottawa Posts:5,475 Points:997,555 Joined:Mar 2010	Message Posted: Dec 18, 2010 2:17:19 AM Ignore 1momsunshine Report Abuse Prices are only going UP.
EricON Veteran Author Ontario Posts:344 Points:1,028,290 Joined:Jul 2009	Message Posted: Dec 18, 2010 2:07:06 AM Ignore EricON Report Abuse Prices are only going one way in the long run
nurdco Champion Author Colorado Springs Posts:9,212 Points:1,691,485 Joined:Apr 2008	Message Posted: Dec 18, 2010 2:06:17 AM Ignore nurdco Report Abuse Fuel moves reguardless
Bubba44612 Champion Author Ohio Posts:7,381 Points:1,874,155 Joined:Aug 2005	Message Posted: Dec 18, 2010 2:00:54 AM Ignore Bubba44612 Report Abuse Sounds like the author is doing some kind of drug!
Saturn93 Champion Author Salt Lake City Posts:7,292 Points:1,640,885 Joined:Oct 2006	Message Posted: Dec 18, 2010 1:59:12 AM Ignore Saturn93 Report Abuse Gas prices will rise right along with the economy. OPEC feels entitled to our money. What is Washington doing about it? Extending the ethanol subsidies along with the income tax breaks.
Quick68 Champion Author Columbus Posts:8,183 Points:1,222,875 Joined:Dec 2009	Message Posted: Dec 18, 2010 1:58:54 AM Ignore Quick68 Report Abuse We must get the Speculators out of Washington first to bring the price down. It’s not OPEC doing this. It’s our own government. It’s not OPEC that wants to put another $0.15 to $0.25 cents a gallon federal tax on our gas. Think about it. It’s Washington baby.
mvosevich Champion Author St. Louis Posts:5,489 Points:1,115,410 Joined:Aug 2004	Message Posted: Dec 18, 2010 1:56:01 AM Ignore mvosevich Report Abuse When the DOW was over 14k three years ago gas was nowhere near $3/gal.
jadeusa Champion Author Dallas Posts:9,320 Points:1,822,065 Joined:Sep 2005	Message Posted: Dec 18, 2010 1:52:44 AM Ignore jadeusa Report Abuse There is movement tied to the Dow Jones Avg. but the DJA is a predictor of the economy in 6 months or so. As high energy prices slow the economy, then the DJA may move back down or level out.
Gordo2011 Rookie Author Fresno Posts:55 Points:25,290 Joined:Dec 2010	Message Posted: Dec 18, 2010 1:39:04 AM Ignore Gordo2011 Report Abuse I won't be surprised if gas is $4.00.
2khawk Champion Author Iowa Posts:5,244 Points:925,100 Joined:Oct 2010	Message Posted: Dec 18, 2010 1:37:27 AM Ignore 2khawk Report Abuse Speculators drive the price up for any reason they can come up with.