GAS PRICES TO GO UP TO $1.50/LITRE BY SUMMER?

LGigolo · Comandante

RE: GAS PRICES TO GO UP TO $1.50/LITRE BY SUMMER?

PRINCESSA · TOP Guru

I know this is bullsh_t.

Anyhow my new baby is ok in gas, but I hate feeding it like $45-50 a week & then again for weekends.

Dogo · Comandante

Colombiana4Life wrote:

Dogo wrote:

I think all this gas BS will, finally, really affect the way I choose my next car.

Mira quien habla. El que tiene free gas card for a year. LOL.

Im kidding, that's why im glad que mi carrito is very fuel efficient. Gracias a Dios

-- Edited by Colombiana4Life at 13:22, 2008-02-21

Yeah but my card just devaluated about a third or so

BTW.. I think you mean "Gracias a Chevrolet"

LGigolo · Comandante

A coworker of mine rides his bike through the winter - only leaves it at home during extreme winter storms. hmm

Guadalupana · Foro Master

Bicycle, Bicycle.. I want to ride my bicycle i want to ride my bike, i want to ride my bicycle i want to ride it where i like....

LGigolo · Comandante

Was gas like about a third of THAT ($ 1.50) not more than 5 years back? ARGGGGG furious

Colombiana4Life · Foro Master

Dogo wrote:

I think all this gas BS will, finally, really affect the way I choose my next car.

Mira quien habla. El que tiene free gas card for a year. evileye

LOL.

Im kidding, that's why im glad que mi carrito is very fuel efficient. Gracias a Dios aww

-- Edited by Colombiana4Life at 13:22, 2008-02-21

Dogo · Comandante

I think all this gas BS will, finally, really affect the way I choose my next car.

LGigolo · Comandante

Could gas prices reach 150 cents by summer?

Updated Fri. Jan. 4 2008 11:30 PM ET

CTV.ca News Staff

The price of crude oil will continue to rise -- taking gas prices with it -- despite dropping from a high of US$100.09 a barrel on Friday, according to analysts.

The cost of oil dropped to US$97.91 a barrel on Friday, after U.S. employment reports for December showed lower-than-expected job growth.

The limited job growth strengthened concerns about a possible U.S. recession, which would reduce demand for gasoline.

The drop came one day after oil prices reached a record level above US$100 per barrel.

Jeff Rubin, CIBC's world markets chief economist said the dip wouldn't last and that the cost of crude oil has been steadily rising for months.

"This is not a shock or a spike because somebody shut off the tap," he told CTV News on Friday. "This is just a basic mismatch between growing world appetite for oil and increasing difficulty in bringing new production on."

Rubin said he expects crude oil will reach a constant mark of US$100 by the end of the year. In that case, consumers should expect to pay much more when filling up the gas station, he said.

On Friday, price watchdog www.gasbuddy.com said the average price at Canadian gas stations was 107.94 cents per litre.

How high can prices go?

Rubin said that by summer, when demand for gas is at its highest, it could reach 130 cents, or even 150 cents in some locations.

"People should get used to these prices and, of course, we haven't yet seen the full impact of this at the pump," he said.

"I think a dollar a litre is something you're going to see in your rearview mirror."

If gas prices do reach that level it would mean, among other things, more expensive summer vacations for Canadians.

The average price of gas last July was $1.05 a litre. That meant a family driving 1,700 kilometres from Toronto to Prince Edward Island, and back, would spend about $300 on gas, CTV's David Akin said Friday.

If prices reach $1.30 this summer, the same trip would cost a family $365 in gas alone.

At a price of $1.50, the trip would cost $420 -- an extra $120 over last year's price.

Catherine Hay, a senior associate at MJ Ervin & Associates Inc., said increasing gas costs wouldn't just hit consumers filling up at the gas pumps.

If the price of crude oil settles around the US$100 a barrel mark, transport costs for everything from food to couches would be higher.

"Virtually everything we consume has been transported," Hay told CTV.ca. "And as that cost goes up, so will likely everything else."

With a report from CTV's David Akin

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Anyone wanna buy my car now?