Saw this article this morning on CNN. Figured some of us might find it interesting. The fact that I find very interesting is that profit margin on a barrel of oil is down to $6 from $38 a year ago.

http://money.cnn.com/2008/03/1...n=yes

Given the recent debate in the G35 forum on gas prices, which I think was the last thread allowed for political debate and spawned this area, the article gives estimates on national average gas prices, which are not $4 and more in the neighborhood of $3.50 and $3.75. This is why Bush said he was not aware of $4 gas prices because the government goes by national average. This is not to say that some areas may see $4 gas and higher.

The president said he was not aware of the predictions of the national average reaching $4/gallon by late spring. If the national average was $4/gal, then there would be some at $3.50 and others at $4.50. For an Oil man, GW sure missed the writing on the wall.

(Glad you found the place Smocky.)

rn79870 wrote: For an Oil man, GW sure missed the writing on the wall.

He f'ing knew...I hate that little smug look he gives too...I think it's his tell. His family made their wealth on oil. They are in bed with the saudi's. They are well aware of the expected jump in crude. The press conference reporter asked the President if he was aware that gas prices would jump to $4 a gallon in certain areas, not the national average.

I don't think he knew. I can't see any advantage in a president acting like he isn't aware of current treads.

CNNMoney wrote:Gasoline has hit record levels - and experts say it will likely continue to soar in tandem with the skyrocketing price of crude.

The national average retail price for gas has risen about 30 cents in the past month to $3.279 a gallon, exceeding the all-time high set last year, according to the motorist organization AAA.

And experts say motorists should prepare to pay nearly $4 a gallon - and in some places even more than that - before the price of gas finally comes down in the late spring as high prices crimp demand.

There is the first good news I've seen about gas prices. They may come down when people park their SUVs.

I filled up at Costco today, $3.49/gal for premium.

joe603 wrote:The press conference reporter asked the President if he was aware that gas prices would jump to $4 a gallon in certain areas, not the national average.

Completely not true. The reporter's question was, and I quote from video of the news conference, "What's your advice to the average American who is hurting now facing the prospect of $4 a gallon gasoline, a lot of people facing...""Wait, what did you say? You're predicting $4 a gallon for gasoline""A number of analysts are predicting $4 a gallon gasoline this spring when they reformulate..."

so why is diesel so expensive? it doesnt need to be refined as much as gasoline so shouldnt it be cheaper?

In the winter season, I know diesel is more expensive because they have to add additives to it to prevent it from gelling up due to cold temps.

well i guess that makes sense, but with summer coming i wouldnt expect the price to go down.