Pump prices down, but so is consumer confidence
Filed under: Etc.
An article in from Automotive News tells us... what we already know. Even though gas prices have declined since their almost record-breaking highs on Memorial Day, consumer confidence is at a low. What is interesting about the article is that it points out that not only is our confidence in oil down, but that lack of confidence extends to other parts of our consumerism.Case in point, many retailers including Wal-Mart <gasp> have reported disappointing sales figures for last month. This indicates that because of all the uncertainty the average consumer is coping with in our economy, they are conserving their spending, and thereby not stimulating the already-ill economy. Even the housing market is unstable now, according to the article.
AAA's Daily Fuel Gauge Report gathers data from about 85,000 gas stations across the U.S. and posts its findings on www.fuelgaugereport.com. According to the site, as of June 8th, the highest reported price for gas was found at Beaver Island, Michigan, where drivers were Shell-ing out $4.51/gallon. On the other side of the spectrum, Lancaster, Pennsylvania reported $2.53/gallon. I just paid $3.54 in the Chicago suburbs, so I don't want any of our Lancasterite readers complaining.
[Source: GasPriceWatch.com via Automotive News]











Reader Comments (Page 1 of 1)
6-12-2007 @ 12:31PM
Rick said...
Funny how it often has worked during this administration. Gas prices go up, citizens freak, politicians threaten investigations and new bills and prices come down. Hmmm.
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6-12-2007 @ 2:05PM
J Zurek said...
Yes, these corporate raiders at these oil companies are playing Washington DC (and us) like a violin. People are now saying: "Wow - I wish we were doen to $2 a gallon CHEAP gasoline". I think to myself: Are these people insane? Not so long ago we were outraged at $1.40 a gallon! I say: Let's go to large-scale rollout of modern nuclear energy based on the Fast Neutron Breeder method, and use that abundance of energy to produce hydrogen on which we run our cars. Wouldn't it be nice to flip the bird to these oil robber barons and these Arabs? I would LOVE to see that happen. But don't expect solutions from our lame congress anytime soon. If you CAN'T do anything else ... Go into politics!
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6-12-2007 @ 2:12PM
J Zurek said...
A week ago I gassed up at Shell for $3.20 a gallon, I was really upset. It was the highest I have EVER paid for gas. When I was done, the pump says: "Please see attendant inside for receipt". I got even madder because I was in a hurry. So I go inside, stand in line and after 5 minutes, get my receipt. My exact words to the guy behind the counter: "You know, I don't want to be rude here, but when you charge us $3.20 for a gallon of gas, the least you can do is make sure there is paper in your dispensers". I turn around and leave. My ears are STILL ringing from the yelling and shouting I had to endure from that piece of sh.. upon exiting his sorry excuse for an establishment...
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6-12-2007 @ 4:43PM
Don said...
Things have calmed to about $2.99 per gallon in South Florida.
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6-13-2007 @ 10:44AM
bill said...
Confidence? What Confidence? We do not have an energy policy unless ignoring reality and then blaming someone else is an energy policy. President Bush attempted to open ANWR to exploration and drilling (not a bad plan considering there are a gazzillion barrels of oil under ANWR), but the wacko Democrats had a heart attack over the thought of disturbing the hordes of mosquitos that make the area uninhabitable much of the year. Just making a serious effort to go to ANWR would cause a reduction in oil prices. The thug dictators running many of the oil supplying countries can ill afford a major drop in oil sales, so the honest threat of losing business would cause price reductions. Losing Confidence? I am fully confident we have enough idiots in Congress to do serious damage to our ability to maintain sufficient energy to remain a viable economic force in the world economy.
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6-13-2007 @ 12:58PM
justin said...
Bill your not too smart. The ANWR drilling would at best add 1-2% in 10 YEARS. In 10 years our demand will be even greater, in short it will do nothing to solve our gas problems.
The solution is to get off oil, this ride is over.
My solution is instead of spending what will end up being trillions of dollars in Iraq and elsewhere to secure oil, we put that money into solar power. With that much money we could cover every home in the US with solar panels and have huge collectors in the deserts.
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6-14-2007 @ 12:16PM
J Zurek said...
Solar energy is worth looking into, but it is not very scalable. Same problem with wind energy. The ONLY reliable solution is nuclear energy according to the "fast neutron" breeder method. This modern version of the breeder has practically no waste products (as it can burn U235, U238 and plutonium 100%), is inherently safe and can supply mankind with an abundance of energy for hundreds of years to come. (In fact, with it we can open up the Yucca mountain and use the stored nuclear waste there as fuel for this reactor). The reactor temperature is high enough to split water in its basic components H2 and O2 without the need for electrolysis, which means we can generate enough H2 to run all our cars and airplanes, and then some. Also, as an added freebie, the high temperature can generate drinkwater out of sea-water by means of reverse osmosis. The Russians are very far ahead with this method; unfortunately the US (Clinton administration) abandoned an international research consortion in this particular nuclear technology in 1994. Too bad. The only way to rid this great nation's dependence on foreign oil is modern nuclear technology, coupled to a hydrogen fueled society. Too bad politicians have no vision, on either side of the aisle. As a result, our great nation is destined to become a second-rate country within the next 50 years. China, India and Russia will be the new world powers by then, so I suggest you start learning their languages.
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