Gas Prices on the Peoria.com Forums

I was driving down the road today, around 4:09 PM and I saw a gas sign that said 409 and I thought to myself, that is cool.. gas stations displaying the time until I realized 409 was the cost per gallon.

As of 3pm today, north Peoria (Shell @ Lake of the Woods and Mobil) were still 3.89/gallon.

I filled up just a quarter of a tank because .20 jump was too much to bear. Put off putting that $4/gallon til next week!

Ya, I got gas in sunnyland for 3.92

I was on the treadmill at the gym before work last week and boy did I (and the guy next to me) jerk awake.

We both about fell off when we saw on the news that it is expected to hit $6 per gallon! We both looked at each other and were like..hope not!

If this country keeps printing money for our debt like there is no tomorrow- and our credit rating takes a beating- lowering the value of our dollar- the prices will continue to rise. The Obama administration will hammer the oil companies for thier profits and tell you that it is their faults for high gas prices- while 90% of the blame should be on the goverment- overtaxation- killing our currency.

A few years back I was in Toronto on business and had a rental car. Kept thinking that gas looked fairly reasonable compared to home - that is, until I realized the prices were per LITRE!!! Yikes!

In all of your infinite trading wisdom Riverman, one would think you would understand the role that futures trading is playing in the drastic rise in gasoline prices.

In fact, no one is hammering oil companies for their margins, but many are taking a second look at the subsidies we provide huge oil conglomerates, which is exactly what we should be doing. However, this is going to result in further increases in gasoline prices.

Ending speculation on oil is the only way to stabilize the market. And this, of course, is only short term; the price will continue to rise, just at a relatively predictable rate.

Shifty-
U.S. crude settles above $112 a barrel Thursday in volatile trading ahead of a long holiday weekend on lift from the dollar's weakness.
Investors bought oil as a hedge against the slumping dollar, which fell for a third straight day, hitting its lowest since 2008 against a basket of currencies. The dollar index neared an all-time low.
http://www.cnbc.com/id/42690536

U.S. oil rises on weak dollar and Brent pares loss
http://www.reuters.com/article/2011/04/19/us-markets

The reason that speculators are dealing in oil right now is because of the uncertainty of the US dollar- which drives oil up. It all starts with the strength of the US dollar. Get our dollar back where is needs to be you would be looking at alot cheaper oil. But until our national debt is figured out- our dollar will remain weak and oil will remain high. Spectulators trade in commodities that will protect them from the weak dollar- oil and gold are the best ones.

"Investors bought oil as a hedge"

This is speculation. I'm not disagreeing with you that investors are taking advantage of the slump in the dollar to make a buck.
However, to think that we can solve the deficit problem in a short period of time and essentially stop speculators from jumping from one low-hanging fruit to another is just foolish.
We aren't going to solve the deficit issue in the next 6 months, period. And even if we did, it still wouldn't stop futures (and ultimately, the price of gasoline) from being impacted hugely by the next tidbit, true or false, released from the Mideast.

Speculation and future sales of commodities is the problem, not the symptom.

"overtaxation" lol!

We are paying the lowest tax rates in modern history.

I am also amused how people claim to want a market based economy except when prices are high.

horse and buggy days lil house on the praries days now maybe they didnt have it so rough ?

For once we agree- i agree that oil should be taken off the speculation market.

Good thing my CILCO bill is only $68 this month.

I will happily take $6.00 or even $10.00 a gallon gas over a horse and buggy.

I'll ride with Leslie, back and forth to work

oh goodie..not only will you have horses, you'll get the company of a mule! (notice I didn't say 'a**) Pock..you are just too easy..