Crude oil prices spiked above $92 a barrel Friday on tensions in the Middle East and renewed concerns about supply.
The United States announced new sanctions against Iran on Thursday, targeting the elite Revolutionary Guards, which Washington accuses backing Shiite militants in Iraq. A confrontation between the world’s largest oil consumer and its fourth largest oil producer could upend markets.
entire article here: http://biz.yahoo.com/ap/071026/oil_prices.html
glad i just traded in a vehicle that gets 35mpg for one that gets 14.
:tup:
what did you end up with?
im getting 20mpg on premium… woot
i’ll post when i get it.
I’m getting 23mpg with 300hp thanks to the six speed and lean programming.
you know if we just change our oil every 6,000 miles not 3,000 im sure the $$ would drop
35mpg FTW
LOL if you are serious,
I dont know what car requires 3k oil changes aren’t most cars like 7,500 or 10k now?
Interesting that gas prices really haven’t reacted to this. Good thing this is happening while gasoline demand is declining.
I’ll take a wild guess and say that within a month it’s back around 70 something.
prolly not with the Iran sanctions and turkey/Iraq crap going on. My guess is gas will be $3.25 for 87 within 3 weeks.
Not to sound like a broken record but until it hits $4.00 per gallon nothing will change.
People will still drive their suvs, etc.
m’f’n word
With oil prices setting records over $90 a barrel and $100 looking ever more likely, experts say there’s a good chance drivers will see $3 gasoline before the end of the year.
“Three dollar gasoline in this market is unavoidable,” said Stephen Schork, publisher of the industry newsletter the Schork Report. “At this rate, we’re going to see $4 a gallon.”
As soon as I read in O.P it made sense.
Little will change at $4 a gallon. It will probably take $5 or more before people really slow down driving.