Taken from: http://moneycentral.msn.com/content/...tra/P82768.asp

Unleaded hits $1.84 as Saudis blame U.S. regulations and U.S. blames OPEC production limits. Either way, prices may be starting to pinch auto sales.

By Reuters

U.S. consumers have to dig deeper in their pockets to pay for a tank of gasoline as the national price for motor fuel rose 3.2 cents over the last week to a new record of $1.844 a gallon, the government said on Monday.

The latest pump price is up 33 cents from a year ago, according to the U.S. Energy Information Administration's weekly survey of service stations.

AAA, which issues a daily Fuel Gauge report, said Tuesday's average for unleaded gasoline was $1.834. A third well-known report, the Lundberg Survey, surveys gasoline stations every two weeks and offers a combined price for all grades of gasoline; on April 25, the most recent survey, the average was $1.86.

EIA has said that the price of U.S. crude oil would fall by roughly $7 a barrel and gasoline costs would drop by 15 to 20 cents a gallon if OPEC boosted its oil production levels.

The cartel, which meets next in early June in Beirut, has said world markets have plenty of oil supplies.

Speaking at conference in Washington last week, OPEC-member Saudi Arabia's oil minister said U.S. gasoline prices are at record highs because of America's shortage of refining capacity and tough anti-pollution rules that require too many types of clean-burning fuel to be sold throughout the country.

U.S. Deputy Energy Secretary Kyle McSlarrow disagreed, stating at the same conference that high crude oil prices were "the driver'' behind the rise in gasoline prices.

It's starting to pinch.

When adjusted for inflation in 2004 dollars, the highest U.S. gasoline price was $2.99 a gallon in March 1981, EIA said.

Rising gas prices may in part be responsible for disappointing auto sales numbers coming in this week as buyers hesitated.

Art Spinella, president of CNW Marketing Research, told the Detroit Free Press that CNW's survey of potential car buyers showed one in three was deterred by rising gas. Typically, Spinella said, about 10 percent of survey respondents say fuel economy discourages them from buying, and he said there's been particular "resistance to buying trucks."

The retail price for cleaner-burning reformulated gasoline, sold in polluted metropolitan areas increased 2.2 cents in the latest week to $1.913 a gallon, according to the EIA survey.

The West Coast had the most expensive regular unleaded gasoline, with the price up half a penny to $2.083 a gallon.

Los Angeles topped the agency's city survey of gasoline costs, but the price fell 1.7 cents a gallon to $2.145.

The U.S. Gulf Coast had the cheapest fuel by region, with the price up 3.3 cents at $1.728 per gallon. Houston had the most affordable gasoline at $1.686 a gallon, up 3.4 cents.

The weekly report also showed gasoline prices were up 5.4 cents to $2.057 in Seattle, up 5.7 cents to $1.954 in Chicago, down half a penny to $1.865 in Miami, up 3.8 cents to $1.83 in New York City and up 2.9 cents to $1.80 in Cleveland.

Separately, EIA said the average pump price for diesel fuel dropped 0.1 cent to $1.717 a gallon, but is still up 23 cents from a year earlier.

Truckers on the West Coast paid the most for diesel fuel at $2.146 a gallon, up 4.3 cents from the prior week. The lower Atlantic states had the cheapest diesel at $1.605, down 0.6 cent.

Good thing i live near the Gulf Coast. $1.76 for premium at my local QT. Its not cheap, but cheaper than CA.

 

THe gas station I go to just went from $1.89 yesterday to $1.98 today.

 

Per either CNN or FOX News yesterday, OPEC will increase production IN THE FALL, to ease oil prices and allow the US to re-fill its oil reserves.

 

Here ON the Gulf Coast, Gas prices for 93 are around $1.90 to $1.97 depending on where you get it.

I suspect in Mississipi it's a bit cheaper. I think it's generally a bit cheaper there.

CaptinB

 

wow. $2.37+/gal here in CA for only 91 octane. someone beat that.

 

Just went from $1.99 on Sunday to $2.11 on Tuesday, that's 87 octane.

Read this article and you'll realize you don't need premium.

But premium lovers are passionate. "I would simply curtail driving rather than switch grades"

Burning regular when the owner's manual specifies premium won't void the warranty, nor damage the engine, even the most finicky automakers say. "You're giving up perhaps just a little bit of performance that a customer wouldn't really even notice, it's so slight," says Furey.

All Porsche engines are designed for premium, too, but it's not available everywhere. "Our cars must be able to drive all over the world, and so we are able to run on regular," says Jakob Neusser, director of powertrain development at Porsche's research and development center in Weissach, Germany. "You don't have to feel that a mechanical problem or anything else will happen" using regular gas, even in the highest-performance, regular-production Porsches.

Premium, in fact, sometimes is worse fuel than regular. It resists knock because it's harder to ignite than lower-octane fuels. As a result, some engines won't start as quickly or run as smoothly on premium, notes Gibbs, the SAE fuel expert.

The only modern engines that should really need premium are those with superchargers, which force-feed fuel into the cylinders. "You're driving along and just tramp the gas and the knock sensor cannot sense the knock fast enough in some cases," because the supercharger boosts pressure so fast, says Bob Furey, chemist and fuels specialist at General Motors.

Automakers say they don't test premium engines on regular to check the difference, but some auto engineers estimate that power declines roughly 5%.

http://www.usatoday.com/money/autos/...emiumgas_x.htm

 

I would say a 5% power loss is worth 10 cents a gallon

 

Indeed! For a full tank of gas we are only talking about $2.00 or so. You get better gas milage on 93 anyway.

Spend more time driving and less at the gas pump!

CaptinB

 

Yah gas prices suk-*** but here is a pic of a Shell in Corona Ca taken 4 months ago...AHHHHHHHHHHHHHHHH



this is not a photoshop or anything like that. I was so shocked I pulled out my digicam..

 

Gas $$ s*ck, big! They just went from 2.10 to 2.17 to 2.30 and I see some at 2.35 its a good thing I didn't buy a big SUV! Those prices are in a 2 week span!

 

If this was the case here in Maryland I would not drive my Z.

 

Gas prices her in SoCal suck. 91 octane averages about $2.45/gal now and have seen a station this week with it at $2.99/gal.

 

That's BULL, you guys have to tell Arnold to terminate those high gas prices.

 

i have no problem paying upto 2.50 a gallon, right now prices are around 1.98. Higher prices will make people second guess getting their suburban or f250, when they dont actually tow anything.

 

I agree with you. I'm tired of seeing the big unneccessary SUV on the highway.

 

Gas isn't that bad in the south. I'm in Richmond and I can get 93 any time of the week at about 1.97.

There's also a station close to my house that has "Premium Tuesdays", where they drop the price of premium 7 cents/gallon. Can't beat that!

 

That's it. I'm not leavin' the house.

 

i saw the most expensive gas station (that i've seen) in GA. $2.06 for premium.

i've never seen premium here hit the $2 mark.

 

Just got back from LA/SD visiting family and I did see 2.60 for Supreme at one station, I said no way in the H*LL. Man how do those people with Expeditions/Yukons etc make it out their.

 

Then when it's time to trade it in.