$100 fill-up coming to pump near you, By Terry Jackson • Bankrate.com
With speculators running up the price of a barrel of oil to the $100 range, there can be little doubt that the average price of a gallon of regular gasoline is headed for $3.50, and maybe even $4, before there's any sort of fallback.
While such price hikes will increase the pressure on new vehicle buyers to look for more fuel-efficient vehicles, there's a real sticker shock awaiting those who need or want a big sport utility vehicle or pickup truck.
Those vehicles are among the thirstiest gas-guzzlers, delivering an average of 14 to16 miles per gallon in combined city-highway driving if a driver is judicious with the gas pedal.
The real shock for drivers of these automobiles will come when the tank approaches empty and it's time to fill up. Because they burn a lot of fuel, these vehicles have larger gas tanks, which can mean that the final total on the gas pump can be frightening.
How frightening? How about $100 per fill-up?
At $3.50 a gallon, getting change from a Ben Franklin is not likely to happen very often. And on some vehicles, it will cost more than $100 to fill up. Here's a list of some of the biggest budget busters on the market, including tank size and how much it costs to fill an empty tank at $3.50 a gallon.
Make and model,--- Tank Size,--- Cost
Chrysler Aspen SUV ---27 gal ---$94.50
Ford Expedition SUV--- 28 gal ---98.00
Infiniti QX56 SUV -----28 gal ----98.00
Cadillac Escalade ESV SUV-- 31 gal-- 108.50
Chevrolet Suburban SUV ---31 gal ---108.50
Chevrolet Avalanche SUV --31 gal ---108.50
Hummer H2 SUV ----------32 gal ---112.00
Ford Expedition EL SUV ---33.5 gal-- 117.25
Chevrolet Silverado 2500 HD pickup ---34 gal ---119.00
Dodge Ram 2500 pickup ---35 gal ----122.50
Nissan Titan pickup-------- 37 gal -----129.50
Ford F250 Super Duty pickup ---38 gal ---133.00
Of course, as the price of gasoline rises, owners of more economical vehicles like the Honda Accord and the Toyota Camry will also get wallet shock. Both cars come with 18.5-gallon gas tanks that would cost $64.75 for a fill-up.
We all need to drive, and while the ultimate measure of economy is the number of miles that can be squeezed from a gallon of fuel, it's worth considering what you're likely to be spending when that tank runs dry and to factor it into your budget.
How far will you car go on a tank of gas? See Bankrate's "How far can you go?" calculator.
Friday, November 30, 2007
Thursday, November 15, 2007
No Winter Relief at the Pump
How much can we tolerate?
With crude-oil prices hovering near $100 per barrel, gas prices have some catching up to do. In fact, you might see a 10 to 15 cent per gallon increase at your local gas station over the weekend.
"Prices are going to move higher," says Geoff Sundstrom, a spokesman for AAA.Here's why: Back in May, when crude-oil prices were around $75 per barrel, the national average price for a gallon of regular unleaded gasoline peaked at $3.227 per gallon, according to the automobile association.
Crude oil surged to more than $98 per barrel earlier this week, before closing at $95.46 Thursday, but the national average gas price is just $3.061 per gallon.That big of a spike in oil prices -- an increase of more than 25% since May -- is bound to raise gasoline prices. The question is, by how much? And for how long? The price of a gallon of gasoline typically drops 20 to 50 cents per gallon from summer to fall. Last year, gasoline prices dropped 80 cents per gallon between August and Halloween.
No winter relief at the pump.
But this year, the autumn drop-off hasn't happened. In fact, if crude oil remains near the $100-per-barrel mark, we may see the national average gasoline price surpass the summer peak price of $3.227 by Christmas, according to AAA's Sundstrom.
"Based on crude-oil prices of nearly $100 a barrel, it's feasible we would set a new record high between now and Christmas, at least $3.23," Sundstrom says. And if oil prices are hovering near the $100-per-barrel mark by next spring, get ready for more record-breaking gasoline prices in time for the peak summer driving season."It's very possible that we'll see gasoline cost $3.50 per gallon on a national-average basis," Sundstrom says. "Some places, particularly the West Coast, may get up to $4 per gallon." Already, drivers are reporting $5 premium near remote Big Sur in California.
This is the first November that the average national price for regular has passed the $3 mark, which means filling up over Thanksgiving will be expensive. You'll see the effects of $100 oil in smaller ways, too.
Airlines use futures contracts to lock in the price of jet fuel, but they still are feeling the pinch, raising fares in recent weeks in $10 and $20 increments. Carnival Cruise Lines announced Thursday that it would add $5 a day to guests' bills as a fuel surcharge. Already, United Parcel Service maps its routes so that drivers don't waste fuel waiting to make left turns, and you'll see shipping charges rise across the board. And it'll hurt on NFL Sundays as well. Pizza chain Hungry Howie's is asking customers to pick up their pies or pay a delivery charge of up to $4.
With crude-oil prices hovering near $100 per barrel, gas prices have some catching up to do. In fact, you might see a 10 to 15 cent per gallon increase at your local gas station over the weekend.
"Prices are going to move higher," says Geoff Sundstrom, a spokesman for AAA.Here's why: Back in May, when crude-oil prices were around $75 per barrel, the national average price for a gallon of regular unleaded gasoline peaked at $3.227 per gallon, according to the automobile association.
Crude oil surged to more than $98 per barrel earlier this week, before closing at $95.46 Thursday, but the national average gas price is just $3.061 per gallon.That big of a spike in oil prices -- an increase of more than 25% since May -- is bound to raise gasoline prices. The question is, by how much? And for how long? The price of a gallon of gasoline typically drops 20 to 50 cents per gallon from summer to fall. Last year, gasoline prices dropped 80 cents per gallon between August and Halloween.
No winter relief at the pump.
But this year, the autumn drop-off hasn't happened. In fact, if crude oil remains near the $100-per-barrel mark, we may see the national average gasoline price surpass the summer peak price of $3.227 by Christmas, according to AAA's Sundstrom.
"Based on crude-oil prices of nearly $100 a barrel, it's feasible we would set a new record high between now and Christmas, at least $3.23," Sundstrom says. And if oil prices are hovering near the $100-per-barrel mark by next spring, get ready for more record-breaking gasoline prices in time for the peak summer driving season."It's very possible that we'll see gasoline cost $3.50 per gallon on a national-average basis," Sundstrom says. "Some places, particularly the West Coast, may get up to $4 per gallon." Already, drivers are reporting $5 premium near remote Big Sur in California.
This is the first November that the average national price for regular has passed the $3 mark, which means filling up over Thanksgiving will be expensive. You'll see the effects of $100 oil in smaller ways, too.
Airlines use futures contracts to lock in the price of jet fuel, but they still are feeling the pinch, raising fares in recent weeks in $10 and $20 increments. Carnival Cruise Lines announced Thursday that it would add $5 a day to guests' bills as a fuel surcharge. Already, United Parcel Service maps its routes so that drivers don't waste fuel waiting to make left turns, and you'll see shipping charges rise across the board. And it'll hurt on NFL Sundays as well. Pizza chain Hungry Howie's is asking customers to pick up their pies or pay a delivery charge of up to $4.
Thursday, November 8, 2007
By Tom Doggett
WASHINGTON (Reuters) - U.S. drivers would pay a 50-cent tax on each gallon of gasoline they pump to encourage less fuel use and cut greenhouse gas emissions, under draft legislation to fight global warming released on Thursday.
"In order or reduce greenhouse gas emissions and make the planet safe and healthy for future generations it will take a significant investment from all of us," said Rep. John Dingell, the powerful chairman of the House Energy and Commerce Committee." A fee on carbon emissions requires a tithe from all citizens and industries, but no one entity will be unfairly leveled with a devastating burden," Dingell said about his climate change proposal.
The fuel tax, which would also be tacked onto a gallon of jet fuel, would be phased in over 5 years and then adjusted for inflation.Diesel fuel, which produces 20 percent fewer emissions than gasoline, would be exempt from the tax, as would biofuels that do not contain petroleum.
Before introducing a formal bill, Dingell said he is seeking feedback from the public and other interested parties on his current proposal.
There would also be a $50 tax on each ton of carbon produced from coal, petroleum and natural gas. This would also be phased in over 5 years and adjusted for inflation. The money from the gasoline tax would go into the federal highway trust fund to pay for roads and mass transit. The jet fuel tax would be used to improve airports.
Dingell's proposal would also phase out the mortgage interest deduction from taxable income on loans for large houses over 3,000 square feet and eliminate the tax benefit for homes over 4,200 square feet. Dingell said while new bigger homes are more energy efficient than smaller ones built years ago, the so-called "McMansions" are usually located in the suburbs, requiring longer commutes that lead to dramatically more energy use.
To help lower-income families offset the higher tax on fuels, the federal earned income tax credit would be expanded to allow people to make more money before they are no longer eligible for the benefit. Dingell's proposal was released as the Bush administration opened a two-day conference that brought together representatives from the world's biggest emitters to discuss ways to fight global warming.
WASHINGTON (Reuters) - U.S. drivers would pay a 50-cent tax on each gallon of gasoline they pump to encourage less fuel use and cut greenhouse gas emissions, under draft legislation to fight global warming released on Thursday.
"In order or reduce greenhouse gas emissions and make the planet safe and healthy for future generations it will take a significant investment from all of us," said Rep. John Dingell, the powerful chairman of the House Energy and Commerce Committee." A fee on carbon emissions requires a tithe from all citizens and industries, but no one entity will be unfairly leveled with a devastating burden," Dingell said about his climate change proposal.
The fuel tax, which would also be tacked onto a gallon of jet fuel, would be phased in over 5 years and then adjusted for inflation.Diesel fuel, which produces 20 percent fewer emissions than gasoline, would be exempt from the tax, as would biofuels that do not contain petroleum.
Before introducing a formal bill, Dingell said he is seeking feedback from the public and other interested parties on his current proposal.
There would also be a $50 tax on each ton of carbon produced from coal, petroleum and natural gas. This would also be phased in over 5 years and adjusted for inflation. The money from the gasoline tax would go into the federal highway trust fund to pay for roads and mass transit. The jet fuel tax would be used to improve airports.
Dingell's proposal would also phase out the mortgage interest deduction from taxable income on loans for large houses over 3,000 square feet and eliminate the tax benefit for homes over 4,200 square feet. Dingell said while new bigger homes are more energy efficient than smaller ones built years ago, the so-called "McMansions" are usually located in the suburbs, requiring longer commutes that lead to dramatically more energy use.
To help lower-income families offset the higher tax on fuels, the federal earned income tax credit would be expanded to allow people to make more money before they are no longer eligible for the benefit. Dingell's proposal was released as the Bush administration opened a two-day conference that brought together representatives from the world's biggest emitters to discuss ways to fight global warming.
Supreme Court Rules
Supreme Court Rules 4-2-07: EPA must regulate emissions of greenhouse gases. In a 5-4 decision, the Supreme Court said today that the Clean Air Act gives the Environmental Protection Agency the authority to regulate the emissions of carbon dioxide and other greenhouse gases from cars. The EPA must now regulate emissions from cars and compel the auto industry to make more fuel efficient cars.
Save On Your Gasoline Bill
Finally a way to: Save 7% - 19% on your vehicle Fuel Bill and Reduce your vehicle Emissions an average of 30%
With gas and diesel prices climbing: Ethos Environmental, Inc. has a solution. Results may vary depending on climate, road conditions and driving habits.Ethos Fuel Reformulator made by Ethos Environmental, Inc. Ethos F. R. was developed to help the environment by reducing Green house emissions coming from internal combustion engines. Yet Ethos F.R. is non – toxic and non – hazardous and burns 99% ash free. Ethos F.R. cleans and lubricates the internal parts of the engine without the use of petroleum-derived solvents commonly found in fuel additives.
Treatment instructions for gas and diesel engines state to initially use 2 to 5 oz. per 10 gallons in the first tank full to speed – up the cleaning process and 1oz. per quart of oil in the crankcase. There after, use just 1oz. per 10 gallons of fuel and 1oz. per quart of oil in the crankcase at oil changes. When Ethos F.R. is added to the fuel tank, the fuel combusts more efficiently thus reducing the emissions coming out of the exhaust pipe.
Ethos F.R. is to be marketed by the distributors of Ethos For Earth thru their international network. Wholesale distributorship inquiries are welcome.Complete details at: www.4planetearth.com/reducefuelcost.
Go through the entire web site; get back to us if you have any further questions or points for clarification.
How High will Gas Prices Go?
Thanks to Money.cnn for this report.
Special report:
Gas Crunch 2007
Full coverage
Survey: Gas prices jump to near $3 a gallon
Gas station survey shows self-serve regular gasoline up 16 cents from the previous survey two weeks earlier.
November 4 2007: 3:00 PM EST
(CNN) -- The price of a gallon of gasoline has jumped back up near $3 a gallon, according to a survey published Sunday.
The Lundberg Survey found the average price for a gallon of self-serve regular was $2.96 on Friday, up 16 cents from the previous survey two weeks earlier.
Special Reportfull coverage
Oil's march to $100 stalls
Oil prices fluctuate on Bernanke, supplies
IEA warns of China, India energy impact
Wanted: Oil workers
If crude oil prices don't retreat, gas prices could easily cross back over the $3 mark on average, said publisher Trilby Lundberg.
Prices reached an all-time high of $3.18 in May.
The current price, $2.96, is 78 cents higher than it was one year ago, Lundberg said.
The survey looks at thousands of gas stations across the country. It found the highest average price for a gallon of self-serve regular was in San Francisco, at $3.28. The lowest was in Newark, New Jersey, at $2.73.
Here are the average prices in some other cities:
Chicago - $3.13
Long Island - $3.05
Miami - $2.99
Las Vegas - $2.93
Atlanta - $2.89
Denver - $2.87
Dallas - $2.83
Boston - $2.82
Cheyenne - $2.77
Cleveland - $3.07
Thanks once more to Money.CNN for this report.
It looks like I will continue to use Ethos FR in all my vehicles to get better gas milage, which helps to reduce my cost of fuel.
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