Paying at the Pump

Wall Street is betting that turmoil in Libya will result in $120/barrel petroleum by April, and higher prices are already showing up in New Jersey, including Baristaville.

These pictures were all taken in Montclair last night (the Lukoil at Valley Road and Lorraine, the Valero at Watchung Plaza and the Exxon at Elm and Bloomfield). But they don’t tell the whole story. The credit card price for premium gas was actually $4.13 at Valero yesterday afternoon, a tipster tells us. The price was displayed on the pump but not on the main sign.

What’s the highest price you’ve seen for gas lately? And are you rush to fill up the tank before things get worse?

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17 COMMENTS

  1. “rush to fill up the tank before things get worse?”
    What difference does it make?

    Thats like straightening the house before the Mongols came for a visit.

  2. Soon as the first sunny day with temps in the 70s comes along, all gas will soar to high levels. There is NO shortage, only man-made shortage to inflate the prices.

  3. we can drill away, but it’s not like a shortage of crude is driving gas prices up now—nor has it been the reason for ANY price increase in my lifetime.

    Capital goes where there is money to be made. let’s stop acting like this is about the producers of oil, and not the middlemen.

  4. Mrs Martta, I don’t like your idea.
    We waited too long as a nation to find smart ways to power our economy.
    Now were stuck with crummy energy sources overseas or crummy energy sources here at home. No surprise that we are now are paying the price for our shortsightedness.

    By the way, when is the Tea Party rank and file going to go after the huge subsidies we grant to fossil fuel companies? I’m not holding my breath. Let’s cut off NPR instead? Wow what a savings.

  5. The oil companies and the airlines must have the same mentality as the “bread and milk” mobs who attack the supermarkets on the slightest rumor of snowflakes. And there are very rational reasons why oil prices and airline fares skyrocket at the merest mention of potential supply problems: profit motive and greed come immediately to mind. Blame it on whomever you like, but the responsibility falls along the entire food chain. And, just to beat Iceman to the punch, it is all Obama’s fault. Not sure which one, yet, but it is definitely an Obama.

  6. Every President in recent history, no matter which party, has been in bed with big oil, so no, I don’t solely blame it on Obama any more than I would put the blame squarely on Bush. As Conan points out, blame the entire food chain, which ultimately ends with us. We have the technology and the ability to find sources other than those in the Middle East for our oil supply. We also use the lion’s share of the world’s oil supply. So what’s stopping us?

  7. Remember decades ago when we had long lines at the pump? This is not a issue that is a sudden surprise. If we did not have a powerful oil lobby, and if we had not had a pro-oil administration at the beginning of this century, we would be well on our way to having cars with better mileage and alternative fuel sources would be available now instead of in the distant future. And we wouldn’t have play nice with people who hate us. Greed.

  8. We might be better off if we didn’t have that oil under our feet, Mrs. Martta. We have asbestos in our soil too, but since that particular set of lobbyists have been put out to pasture ( unlike oil lobbyists) we don’t feel much like digging that stuff out of the ground and using it for insulation and floor tile.

    It’s just another quick fix with oil, and then, as part of the hidden cost of burning the stuff, we have to mop up all the sickly side effects resulting from the poison it releases into our neighborhoods.
    I wish there was a report that showed us the true cost of burning that brew. And then there’s the obscenely high rates of cancer among residents of coal country. Plus, there’s talk now of fracking, or splitting shale not far from us, just to pull fossil fuel out of the ground, fresh water supplies be damned.

    I’m no fan of Israel’s current policies, but, to their credit, they saw no oil in their soil, so they used their brains instead. Now, thanks to Shai Agassi and thinkers like him, Israel may have the first “plug and play” system of electric cars on the planet. We should learn from them. Instead we’re learning from the Saudis and their posse when we chant “drill baby drill”.

  9. A gallon of gas is slightly more than a gallon of milk these days. That Valero station is a rip off. Their prices are always much higher.

  10. I’ve gotten screwed at at that Valero station too. He’s just a price gouger. Valley Rd. Lukoil is no bargain either. There is nothing on the horizon to suggest the prospect of lower prices. We should resume drilling, since the Chinese will soon fill the void in The Gulf on behalf of the Cubans, Venezuelans and Brazilians. The risks are there, but at least we have some concept of environmental protection measures and experience, UNLIKE THE CHINESE that spew pollution on a scale the average reader of this site would be astonished at. Now this is about as much a time for a discussion on renewable energy as a conversation on fire prevention when your house is already on fire. Yes, it’s a good idea but in the real world we need to keep our economy running. Releasing oil from the strategic reserve is a BAD idea, given the potential long term instability we now face. Moving toward a wholesale change on how we obtain our energy is a much long process. Now we have a budding crisis that could turn very serious. Lets be adults about it.

  11. It’s the same old story, decade after decade. A crisis in the 70’s, a
    crisis today. pretty soon we’ll have to get the frak off this planet!

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