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Fiscal cliff' optimism may boost gasoline prices

Newsday -- Gasoline increased by a penny a gallon on Long Island in the past week, and might rise further following an increase in crude oil prices on optimism that the "fiscal cliff" has been averted.

Andy Lipow, president of Houston consulting company Lipow Oil Associates Llc, said traders are betting on improved consumer sentiment from the deal, which spares most Americans from sharp income tax hikes that would otherwise have occurred.

But Lipow and Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Conn., expect the rise in gas prices will be limited. They cite an increase in Social Security payroll taxes that the cliff deal allows, amounting to about $1,000 for a family earning $50,000 a year. Other factors limiting a price rise include seasonally weak January gasoline dema


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Submitted Jan 04, 2013 By: bar1035
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Author Topic: Fiscal cliff' optimism may boost gasoline prices Back to Topics
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honda0105
Champion Author Tallahassee

Posts:21,418
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Message Posted: Jan 8, 2013 6:00:25 AM

mandoid: already up and national average is rising.
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mandoid
Champion Author Alabama

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Message Posted: Jan 7, 2013 6:35:45 AM

it will go up up at the pump, just a matter of when and how much
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honda0105
Champion Author Tallahassee

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Message Posted: Jan 7, 2013 5:56:49 AM

prices have been going up around here for a while...
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gs7101
Champion Author San Antonio

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Message Posted: Jan 5, 2013 7:31:31 AM

Increasing gas prices isn't good news!
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scu227
Champion Author New Haven

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Message Posted: Jan 5, 2013 2:25:52 AM

SPECULATORS AT WORK !!!!!!!!!!!!
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crreed1
Champion Author West Virginia

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Message Posted: Jan 5, 2013 12:36:35 AM

every thing rices gas prices
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diesel8888
Champion Author Salt Lake City

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Message Posted: Jan 5, 2013 12:34:22 AM

Any news coming out of the white house is depressing!
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KrsnaDragon
Champion Author Montreal

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Message Posted: Jan 5, 2013 12:29:56 AM

Prices are on the rise everywhere.
Here in Montréal, at a gas station close to my work, the retail price of a litre of regular 87-octane gasoline went from $1.234/L on Friday morning to $1.384/L Friday evening.
Given that a US Gallon is equal to about 3.785 litres, that price is about $5.238/US Gallon, up from about $4.671.
Within a day that is an increase equal to about $0.57/US Gallon.
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CDMAuto
Champion Author Connecticut

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Message Posted: Jan 5, 2013 12:16:16 AM

Every thing is up INCLUDING EVERYONE'S TAXES.... Another broken promise by OBAMA.... NO Tax Increase for the middle class or poor....Thats what he said......
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Delight777
Sophomore Author Cleveland

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Message Posted: Jan 5, 2013 12:16:05 AM

Not good.
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Dragnet
Champion Author Arizona

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Message Posted: Jan 5, 2013 12:11:47 AM

Any excuse to raise prices. This has nothing to do with gas prices. But isn't it something how politics always plays into raising prices instead of lowering. These gas companies are nothing but a major joke.
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unicornpmb
Champion Author Buffalo

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Message Posted: Jan 5, 2013 12:11:19 AM

Time to bend over.
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Rooster922
Champion Author Wilmington

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Message Posted: Jan 5, 2013 12:10:08 AM

Wow again.
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GasholeMI
Champion Author Lansing

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Message Posted: Jan 5, 2013 12:09:27 AM

Higher gas prices will help keep a lid on our fragile economy. We really need gas prices back in the lower $2's.
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rahcat
Champion Author Grand Rapids

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Message Posted: Jan 5, 2013 12:08:58 AM

Fiscal cliff optimism????????
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Jmac2008
Champion Author Missouri

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Message Posted: Jan 5, 2013 12:08:36 AM

and it should be going down not up at this time of year.
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obimerrill
Champion Author Cincinnati

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Message Posted: Jan 5, 2013 12:08:09 AM

Prices are up for now...hope they go down since our taxes still went up.
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Bezalel
Champion Author Oklahoma City

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Message Posted: Jan 5, 2013 12:08:09 AM

Eventually they will go up. Remember, crude was about $10/bbl a few years ago.
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naspa
Champion Author Cleveland

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Message Posted: Jan 5, 2013 12:07:01 AM

It may, but reality differs.
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Bigwaynef
Champion Author South Carolina

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Message Posted: Jan 5, 2013 12:06:59 AM

Ha, I already know it's because of which way the winds blowing as to when they raise prices...
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BobD2009
Champion Author Long Island

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Message Posted: Jan 5, 2013 12:06:44 AM

They already have.
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KnoxGasPriceSpy
Champion Author Knoxville

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Message Posted: Jan 5, 2013 12:05:49 AM

they already did...
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pa79th
Champion Author Pennsylvania

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Message Posted: Jan 5, 2013 12:05:23 AM

nahhh
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miser709
Champion Author Grand Rapids

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Message Posted: Jan 5, 2013 12:04:43 AM

What a crock of _ _ _ _.
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rsox67
Champion Author Connecticut

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Message Posted: Jan 5, 2013 12:03:34 AM

Ok
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joel27nc
Champion Author Raleigh

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Message Posted: Jan 5, 2013 12:02:48 AM

That's why prices are going up, really?
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sickhp
Champion Author San Antonio

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Message Posted: Jan 5, 2013 12:02:24 AM

Drill baby drill in all of America.
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cheaper0ON
Champion Author Ontario

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Message Posted: Jan 5, 2013 12:01:59 AM

BaD.
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LostAgain2009
Champion Author New Mexico

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Message Posted: Jan 4, 2013 11:59:06 PM

Oil is traded as a commodity and, therefore, it's price will follow the economy. We don't like it but why and how does it surprise anyone?!?
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sydb7
Champion Author Atlanta

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Message Posted: Jan 4, 2013 11:58:31 PM

Bad!
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Trowinsamoan
Champion Author Los Angeles

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Message Posted: Jan 4, 2013 11:57:16 PM

Prices are going up no matter what happens
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snakebitef22
All-Star Author Corpus Christi

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Message Posted: Jan 4, 2013 11:55:34 PM

They are suckering the morons to buy crude and then they are going to drop the bucket and lower prices will follow..
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RIG89
Rookie Author Houston

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Message Posted: Jan 4, 2013 11:55:25 PM

oil companies smell money and raise prices
gas up here in Houston
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benjy
Champion Author Chicago

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Message Posted: Jan 4, 2013 11:54:07 PM

not here...
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VanIsleLes
All-Star Author British Columbia

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Message Posted: Jan 4, 2013 11:53:34 PM

Not good
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mrsports007
Champion Author Raleigh

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Message Posted: Jan 4, 2013 11:52:19 PM

it was about 20 cents here.
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movietracker
All-Star Author Pennsylvania

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Message Posted: Jan 4, 2013 11:48:35 PM

May boost? Gas prices rose .15 cents overnight!
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yeehaw1073
Champion Author Indiana

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Message Posted: Jan 4, 2013 11:42:27 PM

we didn't avoid the cliff, we're just taking the long way around
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pgerassi
Champion Author Milwaukee

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Message Posted: Jan 4, 2013 11:41:28 PM

Recession looms.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Jan 4, 2013 11:41:23 PM

This sounds like fluff and spin paid for big oil.
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malfrog1
Champion Author South Bend

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Message Posted: Jan 4, 2013 11:40:38 PM

Prices are going up anyway.
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jan 4, 2013 11:39:19 PM

Any reason to raise prices.
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erndog0331
Champion Author Tucson

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Message Posted: Jan 4, 2013 11:35:55 PM

Of course
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BoerneWatch
Champion Author San Antonio

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Message Posted: Jan 4, 2013 11:35:41 PM

Now why would that happen?

The numbers of unemployed keep coming out and the highest numbers are the group that re-elected their president.

Seems like the 47% can't afford gas but the price is going up.
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tco9436
Champion Author Connecticut

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Message Posted: Jan 4, 2013 11:35:28 PM

fn joke
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drz614
Champion Author Harrisburg

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Message Posted: Jan 4, 2013 11:35:10 PM

fiscal cliff adverted? really?
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jrsva
Champion Author Virginia

Posts:11,663
Points:1,942,425
Joined:Jan 2006
Message Posted: Jan 4, 2013 11:34:49 PM

“I got paid, and saw 4% of my check go to the government.”

If that is true, someone made a big mistake. FICA and Medicare deduct 7.65% and then there are state and federal income taxes. No one gets away with paying just 4% to the gov.
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04Ram59HO
Rookie Author Detroit

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Message Posted: Jan 4, 2013 11:30:47 PM

What a racket! The typical last minute deal from Washington and that's supposed to improve consumer sentiment. What are they smoking?!?
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suzmar
Champion Author Texas

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Message Posted: Jan 4, 2013 11:29:17 PM

Prices were going up before the fiscal cliff was temporarily averted.
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wulf2000
Champion Author Miami

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Message Posted: Jan 4, 2013 11:25:24 PM

All around is always bad news.
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