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GasBuddy News Article

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Costs Rise at Fastest Pace in 3 Years

NY Times -- An increase in the cost of gasoline pushed consumer prices up in August at the fastest pace in more than three years and squeezed spending on other items, threatening to further slow the already sluggish United States economy.

At the same time, production at the nation’s factories, mines and utilities dropped by 1.2 percent, the biggest decline since March 2009, other data on Friday showed.

The sour mix of numbers was tempered by an unexpected increase in consumer sentiment in early September and signs that underlying inflation pressures remained contained.

With gasoline costs increasing, service stations chalked up healthy receipts. A second report from the Commerce Department showed sales at gasoline stations shot up 5.5 percent last month, helping to push overall retail sales up 0.9


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Submitted Sep 15, 2012 By: skb69sa
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Costs Rise at Fastest Pace in 3 Years Back to Topics
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StArrow68
Champion Author Oakland

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Message Posted: Sep 16, 2012 5:34:34 PM

For those that want to blame political unrest, great, it is a factor. But, overspending by Washington is weakening the dollar and that is a much bigger factor in the rise of oil prices. Policy that will continue until changed. Washington is giving away tax dollars to those that don't pay taxes to buy votes, pure and simple.
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drpepperTX
Champion Author Texas

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Message Posted: Sep 16, 2012 12:24:02 PM

It's really said that so many choose to be ignorant of market reality in this country.

So many will be shocked to hear this: look at profit margin for the oil and gas refining and marketing sector. It is 3.5%, ranking below about 80 other industry sectors.
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Soglaos
Champion Author Virginia Beach

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Message Posted: Sep 16, 2012 11:44:40 AM

repeat
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MadTraveler
Champion Author Idaho

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Message Posted: Sep 16, 2012 4:22:41 AM

Yepper
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Sep 16, 2012 3:46:00 AM

Thanks Ben
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sprocketsplines
Champion Author Washington

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Message Posted: Sep 15, 2012 11:25:22 PM

Increasing costs of fuel for trucking will eventually push up the price of food and other consumer items that are shipped by truck. So rising gasoline costs have both a direct and indirect impact on the Consumer Price Index.
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CDMAuto
Champion Author Connecticut

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Message Posted: Sep 15, 2012 11:11:30 PM

GREED is pushing
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Sneakers55
Champion Author Houston

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Message Posted: Sep 15, 2012 11:08:02 PM

The only oil company that I have seen that makes significantly more in profit margin (profits after expenses paid divided by total sales) than the average corporation is ExxonMobil. Pharmaceutical companies, Apple, and Microsoft make a significantly higher profit margin than average, but a grocery store is doing well if it ekes out 2% profit.
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rahcat
Champion Author Grand Rapids

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Message Posted: Sep 15, 2012 11:05:28 PM

Thank you Obama.
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shores4now
Champion Author Kentucky

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Message Posted: Sep 15, 2012 11:03:08 PM

ok
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comprof
Champion Author Houston

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Message Posted: Sep 15, 2012 11:02:36 PM

All of this printing of unsecured money has devalued the dollar and drastically increased inflation (the government figures of inflation conveniently do not consider food and masic essentials). This inflation will continue to increase at an accelerated rate. The poor and middle class and the retired on fixed income are the ones hurt by this. Wake up Obama supporters. Get your head and brain out of the sand.
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Dragnet
Champion Author Arizona

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Message Posted: Sep 15, 2012 11:02:22 PM

It's Obama's fault
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Cheney
Champion Author Toronto

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Message Posted: Sep 15, 2012 11:01:08 PM

those who blame Obama just aren't part of the planet.
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bonzoonfmb
Champion Author Florida

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Message Posted: Sep 15, 2012 10:59:17 PM

Gas prices are too high.
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suzmar
Champion Author Texas

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Message Posted: Sep 15, 2012 10:58:27 PM

Just remember government makes more per gallon in taxes than the oil industry does.
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listerone
Champion Author Boston

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Message Posted: Sep 15, 2012 10:57:29 PM

"Don't ya just love those who blame the president for high prices"

Every other ad during the '08 campaign was accusing Bush of driving up gas prices.
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Sneakers55
Champion Author Houston

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Message Posted: Sep 15, 2012 10:54:32 PM

On Sep 15, 2012 10:42:52 PM, N4PIP wrote:

>Don't ya just love those who blame the president
>for high prices. Where were you people when Bush
>was in office and prices were over $3.50 a gallon?

Prices in Houston, usually lower than average in Texas and the nation, went as high as $4.149 at the Conoco station that was invariably the lowest in the area. Now, I go to the grocery store a lot and rack up Kroger Fuel Points so I get 10 cents off when I refuel at Shell. That makes them the cheapest Top Tier Gas in Houston.

Everybody said prices were high because Bush-43 was an oilman in Texas. He was the Governor of Texas before he resigned before he took the office of President of the United States. Now, we have a President that is neither from Texas nor an oilman, and oil prices are high in an election year.


[Edited by: Sneakers55 at 9/16/2012 12:00:57 AM EST]
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Sep 15, 2012 10:53:05 PM

Sure, let's squeeze more money from the consumer that they don't have. Aren't we proud to be in the state that we are in? What a mess!!!
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DrLyon
Champion Author Michigan

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Message Posted: Sep 15, 2012 10:48:42 PM

Like we know...
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mstearno
Champion Author Dayton

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Message Posted: Sep 15, 2012 10:48:00 PM

who cares
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nightworker998
Champion Author Maryland

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Message Posted: Sep 15, 2012 10:46:44 PM

Welcome to depression #3 since 2008.
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SavALot
Champion Author Virginia Beach

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Message Posted: Sep 15, 2012 10:43:57 PM

and it's not showing any signs of slowing down
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humancry
Champion Author Michigan

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Message Posted: Sep 15, 2012 10:43:04 PM

Just what big oil and the tycoons that own them and invest in them want... some one should pay them back...
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N4PIP
Champion Author Miami

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Message Posted: Sep 15, 2012 10:42:52 PM

There's no relief in sight. Don't ya just love those who blame the president for high prices. Where were you people when Bush was in office and prices were over $3.50 a gallon?
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abcdMA
Champion Author Worcester

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Message Posted: Sep 15, 2012 10:41:11 PM

just the start of a long long term of higher inflation caused by excessive government spending and deficits
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s6sputnik
Champion Author Austin

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Message Posted: Sep 15, 2012 10:29:58 PM

Yep!
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camaro_man
Champion Author Kitchener-Waterloo

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Message Posted: Sep 15, 2012 10:21:19 PM

just bigger profits...
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LucsPapa
Champion Author New Brunswick

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Message Posted: Sep 15, 2012 10:20:14 PM

I don't understand why Obama gets all the blame!!! What about all the political unrest in the world. What about the person/persons who aggravated the Muslims that caused all the uprising in the Arab world. I don't think it's fair to blame just one person.
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WIWalt
Champion Author Wisconsin

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Message Posted: Sep 15, 2012 10:16:55 PM

It so the big oil companys can pay for the campaign bills
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dancygreen
Champion Author Twin Cities

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Message Posted: Sep 15, 2012 10:16:01 PM

depressing, isn't it?
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jad1960
Champion Author Gary

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Message Posted: Sep 15, 2012 10:15:58 PM

Whatever prices don't drop quick enough to rise all of a sudden again.
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singlemom27
Champion Author Ventura

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Message Posted: Sep 15, 2012 10:13:49 PM

Interesting...prices here suddenly dropped a few cents here.
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DEG
Champion Author Las Vegas

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Message Posted: Sep 15, 2012 10:10:50 PM

ramshot412, as a country we definitely are WORSE OFF than 4 years ago. The national debt has increased by more than $1Trillion/year under the current president. The national debt in the last 3.5 years has gone up more than in the 8 years under the previous president.
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bcok
Champion Author Los Angeles

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Message Posted: Sep 15, 2012 10:10:31 PM

Does it, if ever get any better?
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mcmonsta
Champion Author Honolulu

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Message Posted: Sep 15, 2012 10:10:31 PM

hurrah for the speculators for helping this mess
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MadTraveler
Champion Author Idaho

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Message Posted: Sep 15, 2012 10:09:58 PM

Thanks Obama.
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DEG
Champion Author Las Vegas

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Message Posted: Sep 15, 2012 10:07:25 PM

Exactly what Obama wanted. He stated that fossil fuels would necessarily have to increase. Obama has kept the promise to keep fuel prices increasing.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Sep 15, 2012 10:07:20 PM

Another round is starting - Helicopter Zimbabwe Ben Benanke had done it again and worse than ever.

Had enough?
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wayoung56
Champion Author Alabama

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Message Posted: Sep 15, 2012 10:04:03 PM

What else is new?

The last four years of my life has been the worse, I lost my job late in 2008 and was unable to find another in my chosen field due to cuts in Defense spending made by the incoming NoBama Administration. I had to withdraw and spend all of my voluntary retirement savings just to pay bills, I'll never be able to retire (until I die) and right now can't afford to go to the dentist.

Thanks NoBama!!! (not really...)
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heysailor
Champion Author Pittsburgh

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Message Posted: Sep 15, 2012 10:03:00 PM

Ditto
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acvw74
Champion Author Illinois

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Message Posted: Sep 15, 2012 10:02:11 PM

Tell us something we didn't know.
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DriverofRed
Champion Author Calgary

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Message Posted: Sep 15, 2012 10:00:49 PM

k
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mobil1MN
All-Star Author Minnesota

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Message Posted: Sep 15, 2012 9:59:39 PM

just reelect obummer and prices will go even higher.
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bevmill
Champion Author Georgia

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Message Posted: Sep 15, 2012 9:58:55 PM

okay
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ramshot412
Champion Author Riverside

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Message Posted: Sep 15, 2012 9:58:45 PM

Yes, but we are BETTER OFF than we were 4 years ago.
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Bildawg
Champion Author Ohio

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Message Posted: Sep 15, 2012 9:58:41 PM

Oh Goodie
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fullauto
Champion Author Reading

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Message Posted: Sep 15, 2012 9:58:35 PM

*BOHICA*
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Buck_on_Bass
Champion Author Tennessee

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Message Posted: Sep 15, 2012 9:58:21 PM

The FED is attempting to make up for the uncertainty in tax policy and governments spending.
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pickledude72
Champion Author California

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Message Posted: Sep 15, 2012 9:54:13 PM

GOOD OLE O'BUMMER DE HUSEIN/BUM LADER/
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smoketown
Champion Author Cincinnati

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Message Posted: Sep 15, 2012 9:53:53 PM

Okay........
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