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Gas Prices Falling, Memorial Day Travel Still Expensive
May 28, 2011
Traveling this Memorial Day weekend was harder on the wallet this year, with gas up about $1 a gallon.
According to the AAA Fuel Gage Report, the average cost of a gallon of regular unleaded is $3.74, up from $2.71 a year ago. In North Escambia, that gallon of gas was at about $3.69, up from $2.69 last year.
Two years ago, the average price was $2.39 a gallon.
AAA projected 34.9 million Americans would travel 50 miles or more from home during the Memorial Day holiday weekend, a slight increase of 0.2 percent – or 100,000 travelers – from the 34.8 million people who traveled one year ago. The Memorial Day holiday travel period is defined as Thursday, May 26 to Monday, May 30.
Pictured: Regular unleaded gas was at $3.69 per gallon Friday as the Memorial Day weekend travel period moved into full swing. NorthEscambia.com photo, click to enlarge.
Comments
13 Responses to “Gas Prices Falling, Memorial Day Travel Still Expensive”
REGARDING:
“I read about a study a few years ago that in the 1970’s the USSR had an oil company do an experiment on drilling about 5 miles into the ground to penetrate the earth’s mantle.”
So you read ABOUT a study. You didn’t read the study itself but somebody wrote something about somebody else writing something?
Nobody in the oil industry knows about this study or else they wouldn’t be drilling thousands of wells in difficult places, they would just drill a few in an easily accessible place, draw from one until it needed to “replenish” switch to the next until it needed to “replenish”, work their way around to the first. Continue forever.
Does that seem reasonable?
I’m not even talking about how the temperature at that depth would be so great as to break hydrocarbon molecules apart and not leave petroleum. I’m not even talking about how the Earth’s crust is about 18 miles thick and the mantle is below that, such that most places 5 miles don‘t even start to get there. That doesn’t matter.
Remember, if any ONE company decides to do something like that successfully, it can put all the rest out of business. We’re talking Russia, Norway, Brazil, France, Iran, Iraq, Saudi Arabia, Kuwait, Argentina, Angola, Nigeria, Libya, and all the hundreds of individual oil companies. All would have to be in on the conspiracy to not produce money that way. All would have to cooperate with each other to shaft us.
David for paranoia
I read about a study a few years ago that in the 1970’s the USSR had an oil company do an experiment on drilling about 5 miles into the ground to penetrate the earth’s mantle. Their scientist’s believed that oil is a natural reacquiring substance that the earth produces over a few years at a time. The study found that after pumping a few million gallons of crude oil from the deep oil well, that it replenished itself over the next 6 months. Of course, water had to be pumped into the well to keep the ground from distorting and causing tectonic plate shifting.
If the public new that oil was a natural reacquiring substance and not fossil fuel, and it can be processed for a lot less than we are paying for it now, then the price would drop. Only thing is if this happens, then think of all the people who would lose their jobs working for the big oil companies. I wonder if BP was trying to do what the Russians did in the 1970’s, but instead they hit a large pocket of natural gas, instead. Who knows?
Scott for pointing out the facts
That don’t get in the way.
REGARDING:
“maybe if we raise price of junk food we will have less obeses ”
You just HAD to give them the idea, didn’t you?
Of course they already had the idea. They decided to turn corn into ethanol for fuel, knowing they got less energy out than they put into the production but it raised the prices of food for those dependent on corn. All part of a communist plot or an islamic plot or some sort of plot to make us thinner.
David for oatmeal
We can survive at home without electricity or a phone, but we got to have
gasoline to get to our jobs..Why is electricity regulated and not gasoline!
I guess I could ride a horse or a bicycle 50 miles round trip to work!!!
Hello name required, are you familiar with executive order 11110 abolishing the feferal reserve, president Kennedy had a very bad experience shortly after sighning it. I wounder what became of the 4 billion of interest free US. TREASURY notes he ordered issued, LBJ sure recalled them in a hurry! I wish I could love my masters as the bible says I should.
It is almost like a ‘world view IQ test’. The lowest score going to those who would blame the gas station owner, slightly higher if you blame the oil companies… then the speculators, maybe the ‘global political unrest’ next… then start talking about politicians and energy policy… finally tie all the factors into a discussion of economics.
It is not as easy as just pointing a finger, but I doubt many folks really have a clue.
For example, public opinion seems to favor ‘raising taxes’ on oil companies to ‘punish’ them for making a profit… little thought seems to be given to the likely effects.
The devaluation of the US dollar (the global currency for oil exchange) is one of the many factors that has driven the price up as the story said ~$1 since last year.
The Federal Reserve is responsible for this, largest contributor…. but I doubt anyone who is not already aware of that will read more then the fact that it is Obama’s fault.
Name (required)
for pointing the finger in the right direction.
David thank you for pointing out to me that price manipulation is a myth!
Sorry we do not thing that high prices saves lives….maybe if we rise price of junk food we will have less obeses and will therefore cost less to the community…please do yourself a favor ….THINK.
I recently read an article on CNBC that high gas prices are actually a good thing. Less polution and fewer people getting killed on the hiway.
Haven’t you heard the latest? High gas prices are now a good thing, not like 2008 when Bush was in office. Some more of that change we where promised. Our President and Mr Gore would like to see gas prices at $8 to $10 a gallon. That way we would all be forced to buy one of those cute little electric cars or maybe a new bicycle!
REGARDING:
“Speculators belong under a log jam!”
If the effect of speculators were to magically drive up prices, how is it that prices sometimes go down?
Yes, they buy products in advance in hopes of selling them for more than they pay for them, but please explain how they differ from anybody else who buys something in hopes of selling it for more than they paid. Other than product and amount, how are they different from grocers, from vending machine operators, from hardware stores, from florists, from paper mills?? Each one buys things to resell or to make other things they expect to sell. Usually they’re right but sometimes they fail. Quite often they don’t sell everything they had in stock unless they reduce the price (hence sales).
What’s more, if someone didn’t buy the petroleum products in advance, how would it get to the pumps for your usage? If you think they’re making too much money acting as middle men, become a middle man yourself and sell with a lower profit margin. I noticed last night I could buy diesel for $4 per gallon or for $3.70 per gallon, depending on the store. If I were buying, where do you think I’d buy? How much would the one selling for $4 per gallon sold make if nobody bought? If you could sell it for $1/gallon, you’d get all the business, all the money.
David wondering
Speculators belong under a log jam! Im being nice!
stay home or close to the North Escambia area and enjoy some of the local activities over the weekend. Remember to take time out and pay respects to those who gave all for this nation. even if it is just a moment of silence, give thanks to those men and women, because of them, we have the opportunity to complain about gas prices without fear of our government.