Get ready for most expensive driving season in years

[babylonsister]

Get ready for most expensive driving season in years
Alex Veiga, Associated Press Published 6:59 a.m. ET April 30, 2018


Get ready for a little bit more pain at the pump this summer.

Crude oil prices are at the highest level in more than three years and expected to climb higher, pushing up gasoline prices along the way.

The average price for self-serve regular unleaded gasoline is about $2.85 per gallon, according to AAA Michigan. That’s about about 42 cents more than at the same point last year. The highest was about $2.89 per gallon in the Ann Arbor area. The Detroit-area’s average was about $2.87.

The U.S. daily national average for regular gasoline is now $2.81 per gallon, also up about 42 cents, according to Oil Price Information Service. And across the U.S., 13 percent of gas stations are charging $3 per gallon or more, AAA said last week.

“This will be the most expensive driving season since 2014,” said Tom Kloza, global head of energy analysis for Oil Price Information Service.

more...

https://www.detroitnews.com/story/business/2018/04/30/rising-gasoline-prices-united-states/34398403/

[hlthe2b]

1. Yet Ford is not building cars but just big trucks & SUVs and supposedly hybrid/electrics are

dropping in sales/popularity.

Yeah, we are a "forward looking society", aren't we?

[wasupaloopa]

5. Those SUV's have a 4 cylinder turbo

My Mustang gets 29mpg

The old SUV arguments don’t fit

[NickB79]

10. And my 6 yr old Prius V wagon gets 45 mpg with 4 people and groceries

This is 2018, and we're on the verge of a climate catastrophe. 29 mpg Mustangs and 4-cyl. turbo SUV's won't cut it anymore.

[MichMan]

13. You are correct

Ford needs to stop producing all the trucks, SUV, Crossovers and Mustangs and tell their customers to pound sand. People are too stupid to know what's good for them.

Just because there are lots full of unsold small sedans because customers prefer crossovers, Ford should continue to keep cranking them out anyway. Someday, when gas prices continue to rise, they will have a plentiful supply of 2 year old unsold cars to sell.

[Takket]

14. .

"Ford needs to stop producing all the trucks, SUV, Crossovers and Mustangs and tell their customers to pound sand."

all trucks? So contractors are going to drive around sedans now? There is very little mileage difference between the cars and SUV/Crossovers at this point anyway.

Telling customers to pound sand would be pretty much the stupidest thing any company has ever done.

Ford has a major effort to move from gas/diesel to electric, but just like all the other manufacturers, they aren't there yet, and it is only going to move as fast as consumers and regulation dictate.

"Just because there are lots full of unsold small sedans because customers prefer crossovers, Ford should continue to keep cranking them out anyway. Someday, when gas prices continue to rise, they will have a plentiful supply of 2 year old unsold cars to sell. "

No. If market forces cause the "no cars" model to collapse, they'll just go back to making cars. Ford's market share is huge on trucks/SUVs and they are running with that instead of cracking out cars which is a loser for them in the realm where consumers want other manufacturer's models.

[MichMan]

15. I thought my attempt at sarcasm was fairly obvious

Consumers have lost interest in sedans. What does anyone expect a car company to do? Continue making them by the bucket loads?

[BigmanPigman]

2. Is this the small price we will all pay

for the moron's cult/fans to be hurt financially/economically? We will all have to pay of course, but his base is happy, happy, happy with the economy. The rich GOP will love it...they benefit from high oil prices. It is his poorer base that will have a SAD day bigly. I hope it increases up until the midterms!

[Dawson Leery]

3. And Detroit is still making gas guzzling garbage.

Ford is basically ending sedan sales in the US.

[wasupaloopa]

6. No not gas guzzlers Ford making 4 cylinder turbos

They are called eco-boost

Ford Escape is smaller than Ford’s old Ranger

[NickB79]

11. 21 city/29 highway is supposed to be impressive?

https://www.ford.com/suvs-crossovers/escape/?searchid=237089443|6178726345|78152282653|&s_kwcid=AL!2519!10!8031506900!78152282653&ef_id=Wb3dxAAABfvVaYIK:20180501015407:s

That. Is. Shit.

[Sneederbunk]

4. Thanks Trump.

[MichMan]

8. Not sure we can blame this on Trump

“This will be the most expensive driving season since 2014,” said Tom Kloza, global head of energy analysis for Oil Price Information Service.


It still has a ways to go to reach the level of gas prices in 2014. If I recall, I was paying over $4 per gallon

I was commuting 100 plus miles a day back them just for work costing me around $500 per month in gas

[Ilsa]

12. We know he would take credit for lower prices, though. nt

[Historic NY]

7. 2.91 regular unleaded around the corner from me 2.99 at the interstate...

its jump more than 10 cents between Sat. & today.

[Smilo]

9. Lucky to get it at $3.25 today

............ any one know why crude is going up so much

[Volaris]

16. Charles and David need more money.

Clearly, they think they're not More Better ENOUGH than all of us serfs.
Let that sink in.

[BlueSpot]

17. A couple of things

Worries that Spanky may tear up the Iran deal and reimpose sanctions (including Iran's sales of crude oil). Pulling that oil out of the market impacts the supply side of the supply-demand equation. Supply goes down, price goes up.

OPEC's production cuts (began in January 2017) have substantially reduced the global crude oil supply glut that caused the price of crude oil to crash in 2014. Again, supply goes down, price goes up.