Ten Cents in One Day

June 6th, 2008

When I hopped in the truck this morning to drive to work I saw the amber low fuel light staring me in the face. I keep hoping the gas will get cheaper before I have to fill up again, so I tend to wait until the light comes on recently. On my way to work I stopped to fill the tank at $4.059 per gallon. I was just staring at the numbers that seemed to go faster and faster as I watched. For the first time ever I spent over $70 for a single tank of gas.

I thought this was amazing until, on my way home I drove past the same gas station and the gas was now $4.159, a full ten cents more than this morning! I guess I should be happy that I bought gas this morning saving over $1.70, but I can’t bring myself to be happy about 4-dollar/gallon gasoline.

On the way home the news report indicated that crude oil had reached a new high today jumping $11/barrel in only one day! That breaks two records: the highest crude oil price in dollars and the largest increase in oil prices in a single day. At lunch with a coworker I was just saying that I thought the price of gas was contingent not on the current price of crude oil, but rather on the price of crude oil at the time the gasoline refinery bought it. That may still be the case, but now I’m not so sure. My coworker suggested that the price goes up when oil prices rise, but doesn’t fall when the oil prices fall. All I know is that I never really believed that the gasoline would reach $4/gallon this year, but it’s not even summer yet and we’re shattering that. Now I’m afraid to believe that $5/gallon is not going to happen.

4 Responses to “Ten Cents in One Day”

  1. Randy says:

    Take a look at CNG conversions. You could be paying like a $1 in natural gas to an equivulate of a gallon of gas. I’ll be doing that soon.

  2. Shawn Dowler says:

    I notice at least one car each week with a CNG sticker on it. The idea is intriguing. I don’t know how prevalent the filling stations are for CNG, though. I also have no idea how much it costs to do the conversion or what the conversion entails. I guess I have something new to research!

  3. Alyssa Wilson says:

    Shawn– I was roommates with your wife in the MTC. I’ve been taking a trip down memory lane and trying to track people down to see how life has been treating them. Forgive me for leaving this comment on your website but it was the only contact I could find for her. Please pass my email on to her and have her drop me a line if she has time. Thanks! –Alyssa Wilson

  4. Eugene says:

    Now everyone is talking about the American economy and eclections, nice to read something different. Eugene

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