> TEOTWAWKI Blog: Gas price hikes coming



Gas price hikes coming

From: http://www.msnbc.msn.com/id/22919642/

"Experts are predicting pump prices, which jumped by almost a dollar a gallon in each of the last two springs in many parts of the United States, will spike again this year as refiners and gas stations switch from winter- to summer-blended fuels.

The increases, starting as early as February in southern California, could push the average national price to a record $3.50 a gallon or more by June.

That would be 17 percent higher than today's average of just under $3 a gallon, which already is about 80 cents a gallon higher than year-ago levels thanks to the surge of crude oil that took futures prices briefly to $100 a barrel. Prices in urban areas on each coast could approach $4 a gallon."

I'm paying about $2.85/gallon for gas at the local Costco. Not looking forward to another jump in gas prices, and I doubt the economy as a whole will deal with it well. Definite potential to wreak some additional havoc on the already weak economy. As I type this, the Dow is down 299.55 points, or 2.37% of its value. Things aren't looking particularly promising. TEOTWAWKI? Not for a while, but a fairly major recession is a definite possibility.

American's as a whole don't know how good their gas prices are when compared to other parts of the world (Europe), but gas increases are going to continue for the foreseeable future. Large trucks and SUVs will become even more attractive for the consumer--if you're in the market for one, hang on a few months and you'll be able to find a screamin' good deal. Expect more hybrid and fuel efficient cars hitting the marketplace as well, and an increased demand for ethanol as well.