Rising Gas Prices

[tresjolie]

the gas prices are so high due to all the regulations and the government puts their taxes on them.....
and we don't drill our own oil.....

[HRx]

Politics is the main reason why gas prices are soaring at this unrealistic pace.

[HRx]

click on the following link to view a graph that reflects the average price of U.S. fuel over the past 36 months. http://www.gasbuddy.com/gb_retail_pr...t.aspx?time=24

[so-beyond-broke]

Price of gas has gone up early

I expect that every summer the price of gas goes up and during the winter it goes down to a normal more affordable level. Last summer in NYC the gas prices were really bad about $4 a gallon for regular. Since that was what people wanted regular ran out and we were forced to use super at over $4 a gallon. Its only April and regular is about $3 a gallon and there has been shortages already. My SO has this thing about driving the car unless its full. So last week we had 1/2 a tank. I gave him all my change left from the bills. He used all $27 to fill the gas tank with SUPER because that's all that was left. Well after driving our son to his lacrosse games in both NY and CT in one weekend. My mouth dropped and I cried when the very same gas we put in was gone. That was last weekend and my car is under 1/2 a tank and I got to go to NJ for another lacrosse game. Its this bad now I can imagine during the peak of summer. I guess it will be cheaper to stay home than drive.

sbb

[scammer]

Politics is the main reason why gas prices are soaring at this unrealistic pace.

ahhhh, the correct answer, very good, but you should have added, "US" before the word "Politics".
And also the refiners talking advantage of opportunity.

[tinroofrusted]

I enjoyed reading all the giberish about the price of fuel. The Iranian President made a very accurate statement yesterday. The price of a barrel of oil is not the reason you are paying so much for gas. Everything else in the world has had inflation applied to it. Why not oil? The price of oil is only a small part of the product. Can someone tell me why the price of gas is so high? anyone Bueller????? Quit complaining about the base material price, your barking at the wrong tree?

Interesting.... so you're saying that a dollar today is worth the same as it was in the 1970's? Interesting......

Last I checked a dollar today is worth more than it was in the 70's, so your quip about inflation is a little overboard.

It seems to me as if you are on the side of the oil companies. Do you have many stocks invested in oil?

It strikes me as funny too that no one brings up the fact that our president, an oil tycoon, certainly didn't release his tax information from the last year. I wonder how much he made off the American people...

When the oil companies are making billions, and people are wondering how they are going to get to work to pay for the gas to get them there, something is seriously wrong.

[tinroofrusted]

I expect that every summer the price of gas goes up and during the winter it goes down to a normal more affordable level. Last summer in NYC the gas prices were really bad about $4 a gallon for regular. Since that was what people wanted regular ran out and we were forced to use super at over $4 a gallon. Its only April and regular is about $3 a gallon and there has been shortages already. My SO has this thing about driving the car unless its full. So last week we had 1/2 a tank. I gave him all my change left from the bills. He used all $27 to fill the gas tank with SUPER because that's all that was left. Well after driving our son to his lacrosse games in both NY and CT in one weekend. My mouth dropped and I cried when the very same gas we put in was gone. That was last weekend and my car is under 1/2 a tank and I got to go to NJ for another lacrosse game. Its this bad now I can imagine during the peak of summer. I guess it will be cheaper to stay home than drive.

sbb

Don't worry about all this talk about "shortages." It's simply the oil companies withholding billions of gallons of stockpiles, in order to be able to raise the prices astronomically high.

[scammer]

Interesting.... so you're saying that a dollar today is worth the same as it was in the 1970's? Interesting......

Last I checked a dollar today is worth more than it was in the 70's, so your quip about inflation is a little overboard.

It seems to me as if you are on the side of the oil companies. Do you have many stocks invested in oil?

It strikes me as funny too that no one brings up the fact that our president, an oil tycoon, certainly didn't release his tax information from the last year. I wonder how much he made off the American people...

When the oil companies are making billions, and people are wondering how they are going to get to work to pay for the gas to get them there, something is seriously wrong.

No I wasn't smart enough five years ago to see that prolonged prices were here to stay.
I have clients in oil stocks, just can't take the credit for that purchase. I forget the exact percentage that oil plays in the price of gas, but I am guessing it is around 25%, maybe less.

Oil is a small reason behind high gas prices.

I differ on the value of a dollar, maybe I am wrong, please give me some quotes. Stump the broker. Yes I am aware of the dollars slide.


A dollar in 1950 will buy only 13 cents worth of goods today, 88% less than it did before

Inflation in my adult years increased average prices 1,000% or more -

example 1: a postage stamp in the 1950s cost 3 cents; today's cost is 39 cents - 1,200% inflation;

example 2: a gallon of full-service gasoline cost 18 cents before; today it is $2.65 for self-service - 1,372 % inflation;

example 3: a new house in 1959 averaged $14,900; today it's $282,300 - 1,795% inflation (+1,510% if quality-adjusted);

example 4: a dental crown used to cost $40; today it's $740 - 1,750% inflation;

example 5: an ice cream cone in 1950 cost 5 cents; today its $2.50 - 4,900% inflation;

example 6: monthly government Medicare insurance premiums paid by seniors was $5.30 in 1970; its now $88.50 - 1,570% inflation;

example: several generations ago a person worked 1.4 months per year to pay for government; he now works 5 months.

And in the past, one wage-earner families lived well and built savings with minimal debt, many paying off their home and college-educating children without loans. How about today?

Few citizens know that a few years ago government changed how they measure and report inflation, as if that would stop it - - but families know better when they pay their bills for food, medical costs, energy, property taxes, insurance and try to buy a house.

[tinroofrusted]

No I wasn't smart enough five years ago to see that prolonged prices were here to stay.
I have clients in oil stocks, just can't take the credit for that purchase. I forget the exact percentage that oil plays in the price of gas, but I am guessing it is around 25%, maybe less.

Oil is a small reason behind high gas prices.

I differ on the value of a dollar, maybe I am wrong, please give me some quotes. Stump the broker. Yes I am aware of the dollars slide.


A dollar in 1950 will buy only 13 cents worth of goods today, 88% less than it did before

Inflation in my adult years increased average prices 1,000% or more -

example 1: a postage stamp in the 1950s cost 3 cents; today's cost is 39 cents - 1,200% inflation;

example 2: a gallon of full-service gasoline cost 18 cents before; today it is $2.65 for self-service - 1,372 % inflation;

example 3: a new house in 1959 averaged $14,900; today it's $282,300 - 1,795% inflation (+1,510% if quality-adjusted);

example 4: a dental crown used to cost $40; today it's $740 - 1,750% inflation;

example 5: an ice cream cone in 1950 cost 5 cents; today its $2.50 - 4,900% inflation;

example 6: monthly government Medicare insurance premiums paid by seniors was $5.30 in 1970; its now $88.50 - 1,570% inflation;

example: several generations ago a person worked 1.4 months per year to pay for government; he now works 5 months.

And in the past, one wage-earner families lived well and built savings with minimal debt, many paying off their home and college-educating children without loans. How about today?

Few citizens know that a few years ago government changed how they measure and report inflation, as if that would stop it - - but families know better when they pay their bills for food, medical costs, energy, property taxes, insurance and try to buy a house.

Ok, I understand your side better now.

But, in the past, families didn't have credit cards, and you were required to have at least 50% down before you could get financed for a home.....

[SinkingFast]

Ok, I understand your side better now.

But, in the past, families didn't have credit cards, and you were required to have at least 50% down before you could get financed for a home.....

That's simply not true.

My Dad and 2 of his brothers all bought lots that they paid cash for. Then they went to a Savings and Loan and said, "We want to build houses. Will you finance us when we get the houses built?" The SAL said Yes.

The brothers drew up plans to build their houses, and got with a lumber yard to supply them. Not one red cent up front. The lumber yard delivered everything as they went along building the 3 houses. When the houses were complete, the brothers went back to the SAL with their Lumber Yard bills, the SAL sent out an appraiser to look the houses over, and then the SAL cut the Lumber yard a check for each brother's bill.

Granted my Dad and his brothers weren't any old Yahoos building houses. They were all carpenters. They grew up building houses working for their uncle. My Dad was also an electrician. Another brother knew about plumbing. Another brother was a roofer. The 3 brothers and their families built all 3 of the houses together. Mom and Dad's lot cost $800 and the loan from the SAL was $5400 for building materials.

That was before Banks got stuck with houses that were shoddy construction or people just took the money and ran. Mid 1950's. Once Banks got burned by people the rules changed.

You couldn't build a house like that today. You have to own the lot up front. You have to work with a licensed contractor. You'd need plans from a licensed architect. The bank would have to have a cost estimate up front. You'd have to be pre approved. The bank would pay the Contractor a little along with a bulk payment at the end when construction is completed.

[tinroofrusted]

That's simply not true.

My Dad and 2 of his brothers all bought lots that they paid cash for. Then they went to a Savings and Loan and said, "We want to build houses. Will you finance us when we get the houses built?" The SAL said Yes.

The brothers drew up plans to build their houses, and got with a lumber yard to supply them. Not one red cent up front. The lumber yard delivered everything as they went along building the 3 houses. When the houses were complete, the brothers went back to the SAL with their Lumber Yard bills, the SAL sent out an appraiser to look the houses over, and then the SAL cut the Lumber yard a check for each brother's bill.

Granted my Dad and his brothers weren't any old Yahoos building houses. They were all carpenters. They grew up building houses working for their uncle. My Dad was also an electrician. Another brother knew about plumbing. Another brother was a roofer. The 3 brothers and their families built all 3 of the houses together. Mom and Dad's lot cost $800 and the loan from the SAL was $5400 for building materials.

That was before Banks got stuck with houses that were shoddy construction or people just took the money and ran. Mid 1950's. Once Banks got burned by people the rules changed.

You couldn't build a house like that today. You have to own the lot up front. You have to work with a licensed contractor. You'd need plans from a licensed architect. The bank would have to have a cost estimate up front. You'd have to be pre approved. The bank would pay the Contractor a little along with a bulk payment at the end when construction is completed.

My grandparents bought their first house in 1958. Grandad had to have 50% in a down payment before he could get financed to purchase the house. (This was in Arkansas also.)

I have heard of a lot of stories like this in the "good old days." My parents weren't able to get 100% financing on their home when they bought it in the late 70's.... they had to have 25% down payment.....

[SinkingFast]

My grandparents bought their first house in 1958. Grandad had to have 50% in a down payment before he could get financed to purchase the house. (This was in Arkansas also.)

I have heard of a lot of stories like this in the "good old days." My parents weren't able to get 100% financing on their home when they bought it in the late 70's.... they had to have 25% down payment.....

I don't know what to say except that's what happened with my folks.

They moved from the country, where there were no jobs, to the largest city in the State at the time. Louisville, KY. That's where all this happened.

The houses were built in 1953 and 1954. And that's how they did it. Bought the lots, ordered all the materials as needed, took the Lumber Company bills and all their permits and Codes Inspected and Passed paperwork to the Lender. Lender sent out an appraiser to verify everything was in order, and cut checks to pay the Lumber Company for each one of the brothers.

When I try to tell Mom that you can't even do that today. That you gotta have a Contractor and an architect, and such, she says, "Well that's not the way we did it." But I also know that lots of other people did the same thing, only they did shoddy construction or took the money and ran, and banks just quit doing business that way.

[Fedler]

I suspect there aren't many high finance experts hanging out here. How many of you are CEOs of Fortune 500 companies? I'm going to guess not many.

The fact is that gas prices are high. You guys can spend all your free time trying to blame someone for the problem, but you aren't going to change anything. All you'll do is complain.

Gas prices are what they are for whatever reason. Oil IS a fossil fuel. It's non-renewable, at least in our lifetime. That's a fact. If you don't understand that, I suggest you repeat high school.

You can't control gas prices. You can whine, complain, write to congress, and piss and moan here, but you won't change the price. The only thing you can do is to alter your lifestyle.

*GASP* Shocking, isn't it? How dare someone say you change the way you live in order to survive. You can keep complaining and blaming and whining. Guess what? The price of gas won't change because of it.

Direct your anger at whoever you want. It won't change the price of gas. You can deal with it, or you can complain about it.

[tinroofrusted]

I suspect there aren't many high finance experts hanging out here. How many of you are CEOs of Fortune 500 companies? I'm going to guess not many.

The fact is that gas prices are high. You guys can spend all your free time trying to blame someone for the problem, but you aren't going to change anything. All you'll do is complain.

Gas prices are what they are for whatever reason. Oil IS a fossil fuel. It's non-renewable, at least in our lifetime. That's a fact. If you don't understand that, I suggest you repeat high school.

You can't control gas prices. You can whine, complain, write to congress, and piss and moan here, but you won't change the price. The only thing you can do is to alter your lifestyle.

*GASP* Shocking, isn't it? How dare someone say you change the way you live in order to survive. You can keep complaining and blaming and whining. Guess what? The price of gas won't change because of it.

Direct your anger at whoever you want. It won't change the price of gas. You can deal with it, or you can complain about it.

I'll complain about it, thanks. The squeaky wheel ALWAYS gets the grease!

[tinroofrusted]

I don't know what to say except that's what happened with my folks.

They moved from the country, where there were no jobs, to the largest city in the State at the time. Louisville, KY. That's where all this happened.

The houses were built in 1953 and 1954. And that's how they did it. Bought the lots, ordered all the materials as needed, took the Lumber Company bills and all their permits and Codes Inspected and Passed paperwork to the Lender. Lender sent out an appraiser to verify everything was in order, and cut checks to pay the Lumber Company for each one of the brothers.

When I try to tell Mom that you can't even do that today. That you gotta have a Contractor and an architect, and such, she says, "Well that's not the way we did it." But I also know that lots of other people did the same thing, only they did shoddy construction or took the money and ran, and banks just quit doing business that way.

Every story is different from "the good old days." Credit was still pretty new in the late 40's to 50's.....