I paid $3.39 on Saturday at a Mobil. I have decided Valero can take a hike, they now charge me 6cents more per gallon to use my credit card, OR if I wanna use Debit they charge me 75 cents to do that...HOWEVER the damn pump shuts off at $75 so I have to do two transactions to fill a tank on Debit at $1.50. Mobil is about 2 cents more per gallon, but lets me pay how I want with no extra charges, so it is actually cheaper.

I know I am pissing and moaning over a few cents, but good grief, extra charges just to pay you for a product and because I dont walk around with hundred dollars bills in my pocket all the time should be ILLEGAL!!!

 

It was 2.87 forever then about a month ago it shot up to 3.37, yesterday it jumped to 3.39. When the wife and I both work on the same day, we carpool in her car.



<<<< post #900 for me, woo hoo

 

Oil hit $92 dollars a barrell on Monday

 

Thats a record high.

 

The USA economy is taking a 3 way hit right now:

1. High crude oil prices

2. Collapse of housing price bubbles in some areas

3. Industries cutting back capital spending until they can tell if major changes are coming after the Presidential election.

Keeping out of recession with those three hits is going to be difficult.

I certainly pray we don't get a 4th hit from somewhere unexpected.

 

News radio said oil was over $94 a barrel yesterday. Local Valero where I fill up went to $3.29 yeaterday and the owner (I chat wit him a fair bit) said they are expecting another increase soon as well, but he wouldn't say how much. I sure hope you are right on the hedge's.

As for the housing price bubbles, those bubbles are expanding by leaps and bounds. Texas was still considered a "growth" state a couple weeks ago when they were discussing the housing slump (as is many other states) with the primary slump taking place in those states and areas that typically see it (California, New England states, etc). The problem is, since it was broadcast on national news networks, people assume the slump is nation-wide and as a result it affects local markets that weren't considerd to be in a slump. I'm keen on this as I have my house up for sale and I'm getting potential buyers coming in thinking they can low-ball the heck out of me "because of the housing slump".

Feds are supposed to cut the interest rate another 1/4 percent today. The problem is, cutting interest only stimulates the economy briefly. High prices and slumped housing is going to continue to drag the market down. With the Dow and S&P losing the points it surged on recently it's only going to continue to get worse. Lowered interest rates are ok, but the lending institutions who got themselves into their current pickle with their mortgage schemes have had no choice but to close their doors or tighten up their lending requirements a fair bit.

I'd say a recession has a pretty good chance of rearing its head right now...

 

I have seen it as high as $3.86 per gallon here in Socal.

YUCK!!!

 

yea its about 3.49 around here......

 

It's been a while since I have filled up on one swipe of the card. Most stations I go to won't let me exceed $75.00.

Today, I saw prices here in San Antonio at $3.00 to $3.30 all across town.

 

3.36 today i filled up for and they smiled as they took my money[:@]