Gas at $5 – Piggington's Econo-Almanac

This topic has 30 replies, 20 voices, and was last updated 12 years, 9 months ago by briansd1.

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February 24, 2012 at 7:35 AM #19540

kcal09
Participant

I remember a few years ago when gas was approaching $5, there were vocal complaints from the public.

Now gas is approaching $5 again, I don’t hear as many complaints. I am a little surprised by this. What explains this change in attitude? What would be a new breaking point for middle class Americans ? $6/gallon

Your thoughts ?

February 24, 2012 at 7:43 AM #738599

Coronita
Participant

people’s gotten use to it…

February 24, 2012 at 8:26 AM #738601

kev374
Participant

people are just way too rich in Southern California, I laugh because they buy half a million dollar homes but then whine about $5 gas…strange!

February 24, 2012 at 8:43 AM #738603

bearishgurl
Participant

delete

February 24, 2012 at 9:13 AM #738606

Coronita
Participant

Well i just filled up my X5 this morning….

91 octane @ $4.46/gal *19.4 gals… = $87…
Whoohoooo.

Just wait until I fill up the other car.That’s a V8… 🙂

February 24, 2012 at 9:24 AM #738607

(former)FormerSanDiegan
Participant

Hadn;t noticed the gas price thing.
Thanks Nissan Leaf

February 24, 2012 at 9:37 AM #738609

briansd1
Guest

[quote=FormerSanDiegan]Hadn;t noticed the gas price thing.
Thanks Nissan Leaf[/quote]

I just read that $5 gas can help the economy by spurring purchases of new full efficient cars.

The recession caused people to delay new car purchases and the replacement cycle is coming up.

Plus the Dow at 13,000 makes people feel better.

February 24, 2012 at 9:44 AM #738610

Coronita
Participant

[quote=briansd1][quote=FormerSanDiegan]Hadn;t noticed the gas price thing.
Thanks Nissan Leaf[/quote]

I just read that $5 gas can help the economy by spurring purchases of new full efficient cars.

The recession caused people to delay new car purchases and the replacement cycle is coming up.

Plus the Dow at 13,000 makes people feel better.[/quote]

The dow thing does help imho…(Not for long though)

February 24, 2012 at 10:26 AM #738614

The-Shoveler
Participant

I think Brian has a point, the average car in America is now over 10 years old (a record),
And yes I myself have been waiting for a sub 20K car that gets 50+ MPG .

Now there’s the real story, anyone listening ?
There’s the new Msft , APPL .

Oh for you exberb-Phobic’s I was just reading on this, leaving out the drive time factors etc…
assuming you could get 25 miles a gallon, and assume you could save 200K, 50 miles is still finically better than 5 miles -200K. (it’s like a little over 1.5K per year difference in gas).

February 24, 2012 at 10:31 AM #738616

sdrealtor
Participant

Did someone just say Occupy Wall Street? They must be in stealth mode preparing for their IPO. FLU nailed that one. Stock market up…OWS??????

February 24, 2012 at 10:51 AM #738622

poorgradstudent
Participant

[quote=Nor-LA-SD-GUY2] Oh for you exberb-Phobic’s I was just reading on this, leaving out the drive time factors etc…
assuming you could get 25 miles a gallon, and assume you could save 200K, 50 miles is still finically better than 5 miles -200K. (it’s like a little over 1.5K per year difference in gas).[/quote]
Assuming your time is worthless, which is a huge assumption. There actually was a study not too long ago that showed shorter commutes are better both for one’s physical and mental health.

Responding to the Original Post, we’re still a ways off from the record high of $4.64 a gallon on June 13, 2008. Gas prices have only really held above $4 lately (The average I saw online today was $4.18 for regular). It’s also pretty easy to point to a cause: Iran, and to a lesser extent, Syria. Prices are certainly high for February and have gone up a lot. I’m expecting prices to drop a bit soon as increasing prices cause demand to dip a little. Don’t get me wrong, prices are still quite high, but again, not at the levels they were the last time there were serious complaints.

February 24, 2012 at 11:46 AM #738625

Coronita
Participant

If you bought a share of Valero at the beginning of the year like desmond, it would have cost you $20/share.
Today it is $24-$25/share….So you figure you already made up for the gas price.

Of course, I’m starting to think the market is overheated. That’s why I’m starting to get out….

February 24, 2012 at 12:15 PM #738628

sdduuuude
Participant

[quote=FormerSanDiegan]Hadn;t noticed the gas price thing.
Thanks Nissan Leaf[/quote]

I hadn’t noticed it either.

Thanks, Clairemont, for being so close to everything.

February 24, 2012 at 12:32 PM #738630

briansd1
Guest

I hate driving and running errands from store to store and wasting gas at the same time.

Today I bought a dog frisbee on Amazon. $7 and I didn’t have to go out and get it. I also bought virgin unrefined coconut oil on vitaminshoppe.com. Cheaper than driving to Whole Foods.

February 24, 2012 at 12:46 PM #738632

Rich Toscano
Keymaster

[quote=sdduuuude]
Thanks, Clairemont, for being so close to everything.[/quote]

Haha, I think I’ve filled my (10 gallon) gas tank once since moving here… quite a shock coming from Cardiff.

[quote=briansd1]
I just read that $5 gas can help the economy by spurring purchases of new full efficient cars.
[/quote]

I’m sorry, that’s a horrible theory… perhaps one area of the economy will be spurred in the way the article suggests, but that is offset many times over by the overall reduction in discretionary income that is caused by an increase in gas prices. (It would be different if the oil were produced domestically, but it ain’t).
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