Posted August 30, 200519 yr http://www.sun-sentinel.com/news/local/sou...-home-headlines Brace yourself: Gas prices to rise as much as 30 cents a gallon By Joseph Mann Business Writer Posted August 30 2005 South Florida consumers, still recovering from the most recent wave of gasoline price increases, could face even higher prices -- perhaps as much as 30 cents a gallon -- in the aftermath of Hurricane Katrina. The storm shut down oil production in the Gulf of Mexico and tore through the heart of the U.S. oil refining industry, closing plants that supply most of the gas, diesel oil and other fuels used in the tri-county area. South Florida, which receives about three-quarters of its gasoline from Gulf refineries, should begin seeing higher pump prices as soon as new deliveries of gasoline arrive, said Jim Smith, president of the Florida Petroleum Marketing and Convenience Store Association, which has about 5,600 retail gas outlets. "The commodities market went through the roof, and we have wholesale gasoline prices as much as 30 cents per gallon higher at noon [Monday]," Smith said. These prices "are going to start showing up on the street" as soon as new loads of gas reach local stations. "After all this, we may need to go on a low hydrocarbons diet." Smith said that under the current state of emergency, gas retailers can't raise pump prices until they receive new shipments with a higher wholesale price Katrina created a frenzy among oil and gas traders, pushing prices to new highs. Crude futures reached more than $70 a barrel but slipped to $69.15 after the storm's strength was downgraded. Gasoline for September delivery rose 13.37 cents, to $2.0606 a gallon, on the New York Mercantile Exchange, the highest settlement since the contract began trading in 1984. Some oil analysts think that shortages of crude and refined products could occur if Gulf oil production rigs are damaged, as they were last year by Hurricane Ivan, and if refineries and ports cannot begin moving oil products to the southeastern United States. As Katrina moved to the northeast Monday, oil companies were only beginning to assess damage. ConocoPhillips, Valero Energy Corp. and at least five other companies closed plants in Louisiana and Mississippi as Katrina neared. The shutdowns idled about 1.79 million barrels a day of refining capacity, or more than 10 percent of total U.S. capacity. U.S. gasoline supplies are already below normal, with demand running at a record pace. "Damage similar to that caused by Ivan will push oil prices above $75," said A.F. Alhajji, an energy economist and associate professor of economics at Ohio Northern University. "It took more than six months to restore production after Hurricane Ivan. "Even without any damage, evacuation, the shutdown of production operation and tanker delays will bring prices to new records." Crude oil prices could be held in check somewhat if OPEC, which supplies about 40 percent of the world's petroleum, agrees to increase production by 500,000 barrels a day, the president of the organization, Sheik Ahmed Fahd Al Ahmed Al Sabah, said Monday in Kuwait City. Also, President Bush is considering the release of crude oil from the Strategic Petroleum Reserve, which stores about 700 million barrels in underground salt caverns along the Texas and Louisiana coast. The effect of the hurricane will be "very extensive" on refining and fuel supply, said Andy Lipow, president of Lipow Oil Associates LLC, a Houston consultant. "Things are going to be very tight for the next week or two. Supplies may get very thin." After the storm passes, the refineries probably will take five to 10 days to return to normal production, he said. As of Monday, local increases in pump prices seemed relatively modest. In Delray Beach, regular gas was $2.62 a gallon Monday morning at Murphy USA in the Wal-Mart parking lot off Military Trail near Linton Boulevard. But by afternoon, the price had jumped 5 cents, to $2.67 a gallon. The Shell station at Linton Boulevard and Congress Avenue in Delray Beach stayed at $2.73 a gallon, while Mobil in Delray Beach remained at $2.70 a gallon for regular gas. "I fill it up whenever I can, as soon as it gets to a half tank," said James Redding at the Chevron station at Yamato Road and Congress Avenue in Boca Raton, where regular gas was $2.74 a gallon. Redding, 27, drives three times a week from his catering job in Boca Raton to Florida International University in Miami, where he is a student. Maria Sussman, a retiree in Boca Raton, was topping off her Ford Crown Victoria because she noticed a nearby station was out of gas over the weekend. "I'd better not take a chance," she said. "That made me think." At Port Everglades, which supplies fuel to Broward, Miami-Dade, Palm Beach and nine other counties, gasoline stocks "are quite good at this time," with an estimated two or three weeks of supply, said Ellen Kennedy, spokeswoman for the port. Three tankers unloaded before the port closed as Katrina approached, she said, and eight more unloaded, or are still unloading, now that electric power is restored to the port's oil supply facilities. Three more fuel tankers are waiting offshore to unload. Ships typically bring in an average of 12.5 million gallons of fuel every day, about half of which is gasoline, for the facility's 200 fuel storage tanks. About three-quarters of the gasoline arriving at the port is refined in the Gulf of Mexico, while the rest comes from Venezuela, Aruba, the Bahamas and Mexico. Katrina's effect on oil and fuel prices will also hit the airline industry hard, even as a few air carriers flirt with bankruptcy. The storm forced the closure of several airports and caused scores of flight cancellations throughout the Gulf Coast region Monday. It also caused a surge in oil prices, something the airlines have been battling for months with no end in sight. The result could mean more pain for Atlanta-based Delta Air Lines Inc., a major carrier to the area affected by the hurricane, as it continues to try to avoid a Chapter 11 filing. Other airlines also could suffer. Eagan, Minn.-based Northwest Airlines Corp. also is in danger of bankruptcy I am so filling up tomorrow in Tally.
August 30, 200519 yr Author Isnt this nationwide as well? 921510[/snapback] I doubt it. Sounds like the only reason it's going to affect So Fla as much is because that part of the country is isolated (peninsula), and the cargo trip from NO to MIA is pretty short. I really hope it doesn't affect everyone as much....
August 30, 200519 yr The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there...
August 30, 200519 yr Author The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly.
August 30, 200519 yr The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it!
August 30, 200519 yr Author The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it! 921534[/snapback] Is that a law in Texas?
August 30, 200519 yr The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it! 921534[/snapback] Is that a law in Texas? 921535[/snapback] I actually got and drove my truck in N.C before I even knew I was going to school here. But yes, the Truck population is high here....
August 30, 200519 yr Author The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it! 921534[/snapback] Is that a law in Texas? 921535[/snapback] I actually got and drove my truck in N.C before I even knew I was going to school here. But yes, the Truck population is high here.... 921536[/snapback] crazy mmmf'er. I finally started saving some money and I think it will be short-lived.
August 30, 200519 yr The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it! 921534[/snapback] Damn Passion. Mine takes 50$ and it's usually the most depressing 5 minutes of my week. What do you drive a 2 ton? I'm carpooling or taking the bus to school now.
August 30, 200519 yr FX's docudrama come to life.... OIL STORM. 921529[/snapback] Better this one than the one where everyone dies, SmallPox or whatever it was called.
August 30, 200519 yr The rumor in Texas that I've heard is about 20 cents and my parents in North Carolina have said its around 30 there... 921524[/snapback] FX's docudrama come to life.... OIL STORM. And I'm trying to drive to Miami on Thursday, hoping to get reasonable gas prices...Might as well fly. 921529[/snapback] My truck takes over 100 dollars to fill up...so i dont wanna hear it! 921534[/snapback] Damn Passion. Mine takes 50$ and it's usually the most depressing 5 minutes of my week. What do you drive a 2 ton? I'm carpooling or taking the bus to school now. 921766[/snapback] I drive a Ford f-250 that has two tanks. Im mostly using my Girlfriend's Camry to go around town now. We carpool with some friends of ours as well.
August 30, 200519 yr Hmm this puts a dent into my plans to purchase a new mustang GT next month. I rather not be using up more in gas a month then car payments hmm
August 30, 200519 yr It takes about $25 to fill my car usually. Lately, it has taken over $30. Now, it is going to be a lot more. I try taking the buses, but they come once every hour though they are scheduled to come every 30 minutes. UGH!
August 30, 200519 yr Author It takes about $25 to fill my car usually. Lately, it has taken over $30. Now, it is going to be a lot more. I try taking the buses, but they come once every hour though they are scheduled to come every 30 minutes. UGH! 921885[/snapback] hybrid?
August 30, 200519 yr This is the best investment I've made in the last couple of years. 80 mpg, 40 mph.
August 30, 200519 yr I thought you could only legally drive up to 25 MPH on a moped, unless you got a motorcycle license.
August 30, 200519 yr Author I thought you could only legally drive up to 25 MPH on a moped, unless you got a motorcycle license. 922048[/snapback] I think it's 35 MPH. Almost like being a tropical storm.
August 31, 200519 yr I thought you could only legally drive up to 25 MPH on a moped, unless you got a motorcycle license. 922048[/snapback] I think it's 35 MPH. 922052[/snapback] That's correct. No motorcycle liscense required, no insurance required.
August 31, 200519 yr I thought you could only legally drive up to 25 MPH on a moped, unless you got a motorcycle license. 922048[/snapback] I think it's 35 MPH. 922052[/snapback] That's correct. No motorcycle liscense required, no insurance required. 922989[/snapback] You just have to deal with pissed off drivers?
August 31, 200519 yr Here in Gainesville, the speed limit is 35 mph on most of the roads surrounding the school, so it's usually me getting pissed off at traffic conditions.
August 31, 200519 yr Author Here in Gainesville, the speed limit is 35 mph on most of the roads surrounding the school, so it's usually me getting pissed off at traffic conditions. 923122[/snapback] How much for the moped? It looks like a fun ride
September 1, 200519 yr How much for the moped? It looks like a fun ride 923275[/snapback] $700 brand new. It's a Quinqi Vengeance II, and yes, quite fun to ride.
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