Return of $3 gas to Indianapolis; maybe $4 by summer

Source: Indianapolis Star

Only a few days into the new year and gasoline prices are headed up again around Indianapolis, probably flirting with $3 a gallon in a few days and potentially rising close to $4 by summer.

Many analysts are blaming the recent rise in the commodities markets, where traders are gushing cash to buy oil futures and sending the price of a barrel of oil to levels not seen in more than 15 months.

... "We're all still dealing with a fragile recovery in the economy," said AAA national spokesman Troy Green. "We have to ask if (a lingering price increase) would stunt this recovery."

... Gas prices usually climb from January to June, in time for the summer driving season. In the past four years, the spring price increases have varied from 20 percent to 55 percent.

"If we assume a spring run-up of approximately 30 percent, that means we'll see gas around $3.50 by June," Green said.

A 55 percent increase would push the price to about $4.16 a gallon.

Read more: http://www.indystar.com/article/20100107/LOCAL18/1070450/Gas-expected-to-hit-3-within-days

We're so screwn, again.

nt

or maybe higher.

and their minions are going to make sure there is no economic recovery in 2010 so they can get 'their people' elected to office.

As I said earlier today, 2010 will be another "Selection" - not Election...

yes, and they will, in every arena.

I just won't pay for they stuff. I am a bike commuter so I buy gas maybe twice a month. I welcome this to change the green attitudes of my fellow Americans. This will greatly reduce climate change.

I applaud you for being a bike commuter but that's really not ever going to be a viable option for 99% of Americans.

They will have to find other ways for transportation. Carpooling, public transportation or bicycle commuting could be a solution for these people.

Your goal is admirable but the working poor are pretty much stuck in the short term. Most people can't just "buy a Prius" or put their 2 kids on the back of the schwinn and head for school and work. If your solution for solving climate change is on the backs of working people you aren't going to get much support from me. Create public transportation that works, make cleaner alternatives affordable and then I'll listen. Until then realize that the working poor are just trying to get by.

That is a real issue that could be solved with the remainder of the stimulus money. In my city we have a very reliable bus line and a great trail system for bikes. Also I don't see why a person needs to own more than one car. It is just obscene and shows the rest of the world that we do not care about Earth or man made climate change.

i need a vehicle to commute to work, my wife needs a vehicle to take my kids to school due to the fact that i am at work, i love when people think that their level of vehicle usage etc is the highest level anyone should have, its the same when it comes to income, no one whould be able to have more than this self imposed limit..

Higher gasoline prices will force efficiency.

In the meantime, we are in for a very painful transition from our currently very inefficient infrastructure, and most of the suffering is going to be done by the working class.

We should just be happy that we aren't paying the real price of fuel, which includes the cost of the "War on Terror."

If I drive to work, it takes 1/5 of a gallon round trip.

If money was my only motivation for biking, I would need a much bigger bribe/inducement.

The oil companies are not stupid.

They know just how far they can jack the price up before people start reconsidering basic lifestyle choices. It's expensive to move and most people live where they live for what they think are good reasons.

The only thing that high gas prices is to is make the stuff I buy more expensive, since, well, most of it is transported by gas powered vehicles.

it was business as usual. The money train is getting back to full speed.

Coast of Oregon. It's 2.92 today I think.

And we make all of our own gasoline right here.

So you have that going for you.

Don

but it doesn't anywhere near cover the difference in the cost of energy in Alaska, once gas and heating oil are taking into consideration, especially in rural Alaska.

It is a great example of a socialist program, though. It's based on the assumption that the resources belong to the people, and they are entitled to a share of the profit from a resource that can only be extracted once. Hugo Chavez would love this plan.

The biggest benefit is the lack of state income taxes, since oil revenue covers somewhere around 3/4 of the cost of state government (I don't know the actual current number).

Just sayin.