Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:40 PM

GasBuddy News Article

51
votes
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


Read the Full Article

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
REPLIES (newest first) Post a Reply
StArrow68
Champion Author Oakland

Posts:6,523
Points:2,130,065
Joined:Apr 2003
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.
drpepperTX
Champion Author Texas

Posts:14,420
Points:1,531,295
Joined:Apr 2011
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.
Soglaos
Champion Author Virginia Beach

Posts:4,242
Points:1,436,260
Joined:Feb 2011
Message Posted: Sep 16, 2012 11:44:40 AM

repeat
MadTraveler
Champion Author Idaho

Posts:2,082
Points:575,400
Joined:Nov 2009
Message Posted: Sep 16, 2012 4:22:41 AM

Yepper
DrCashFlow
Champion Author Massachusetts

Posts:10,202
Points:2,388,685
Joined:Jun 2008
Message Posted: Sep 16, 2012 3:46:00 AM

Thanks Ben
sprocketsplines
Champion Author Washington

Posts:4,883
Points:1,622,455
Joined:Oct 2010
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.
CDMAuto
Champion Author Connecticut

Posts:6,978
Points:1,530,790
Joined:Apr 2011
Message Posted: Sep 15, 2012 11:11:30 PM

GREED is pushing
Sneakers55
Champion Author Houston

Posts:64,085
Points:2,805,615
Joined:Nov 2005
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.
rahcat
Champion Author Grand Rapids

Posts:5,980
Points:1,446,425
Joined:Jan 2010
Message Posted: Sep 15, 2012 11:05:28 PM

Thank you Obama.
shores4now
Champion Author Kentucky

Posts:5,750
Points:1,307,225
Joined:Jul 2009
Message Posted: Sep 15, 2012 11:03:08 PM

ok
comprof
Champion Author Houston

Posts:10,374
Points:2,136,740
Joined:Jul 2009
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.
Dragnet
Champion Author Arizona

Posts:18,814
Points:3,663,905
Joined:Jul 2004
Message Posted: Sep 15, 2012 11:02:22 PM

It's Obama's fault
Cheney
Champion Author Toronto

Posts:2,703
Points:3,204,630
Joined:May 2004
Message Posted: Sep 15, 2012 11:01:08 PM

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

Posts:2,540
Points:888,110
Joined:Feb 2010
Message Posted: Sep 15, 2012 10:59:17 PM

Gas prices are too high.
suzmar
Champion Author Texas

Posts:3,497
Points:1,448,515
Joined:Jun 2006
Message Posted: Sep 15, 2012 10:58:27 PM

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

Posts:5,386
Points:1,556,385
Joined:Aug 2008
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.
Sneakers55
Champion Author Houston

Posts:64,085
Points:2,805,615
Joined:Nov 2005
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]
Tekkersmom57
Champion Author Syracuse

Posts:5,117
Points:1,477,900
Joined:May 2010
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!!!
DrLyon
Champion Author Michigan

Posts:9,017
Points:1,922,910
Joined:May 2006
Message Posted: Sep 15, 2012 10:48:42 PM

Like we know...
mstearno
Champion Author Dayton

Posts:9,689
Points:2,360,560
Joined:Jan 2008
Message Posted: Sep 15, 2012 10:48:00 PM

who cares
nightworker998
Champion Author Maryland

Posts:2,785
Points:1,000,140
Joined:Mar 2009
Message Posted: Sep 15, 2012 10:46:44 PM

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

Posts:10,870
Points:2,451,910
Joined:Apr 2005
Message Posted: Sep 15, 2012 10:43:57 PM

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

Posts:4,779
Points:1,044,780
Joined:Nov 2006
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...
N4PIP
Champion Author Miami

Posts:3,220
Points:1,176,660
Joined:Jan 2012
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?
abcdMA
Champion Author Worcester

Posts:11,137
Points:2,344,665
Joined:Nov 2008
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
s6sputnik
Champion Author Austin

Posts:7,743
Points:2,004,885
Joined:Jun 2007
Message Posted: Sep 15, 2012 10:29:58 PM

Yep!
camaro_man
Champion Author Kitchener-Waterloo

Posts:5,503
Points:1,391,495
Joined:Jun 2010
Message Posted: Sep 15, 2012 10:21:19 PM

just bigger profits...
LucsPapa
Champion Author New Brunswick

Posts:2,086
Points:1,753,250
Joined:Jan 2010
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.
WIWalt
Champion Author Wisconsin

Posts:4,891
Points:1,192,045
Joined:Mar 2012
Message Posted: Sep 15, 2012 10:16:55 PM

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

Posts:3,776
Points:911,455
Joined:Sep 2011
Message Posted: Sep 15, 2012 10:16:01 PM

depressing, isn't it?
jad1960
Champion Author Gary

Posts:1,648
Points:639,475
Joined:Feb 2012
Message Posted: Sep 15, 2012 10:15:58 PM

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

Posts:6,276
Points:1,406,670
Joined:Apr 2011
Message Posted: Sep 15, 2012 10:13:49 PM

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

Posts:20,766
Points:4,249,830
Joined:Jul 2003
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.
bcok
Champion Author Los Angeles

Posts:3,356
Points:2,077,705
Joined:Oct 2005
Message Posted: Sep 15, 2012 10:10:31 PM

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

Posts:6,203
Points:1,589,200
Joined:Sep 2009
Message Posted: Sep 15, 2012 10:10:31 PM

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

Posts:2,082
Points:575,400
Joined:Nov 2009
Message Posted: Sep 15, 2012 10:09:58 PM

Thanks Obama.
DEG
Champion Author Las Vegas

Posts:20,766
Points:4,249,830
Joined:Jul 2003
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.
clermont40miles
Champion Author Cincinnati

Posts:14,698
Points:2,549,745
Joined:Apr 2008
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?
wayoung56
Champion Author Alabama

Posts:5,926
Points:1,582,660
Joined:Oct 2006
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...)
heysailor
Champion Author Pittsburgh

Posts:12,841
Points:3,112,115
Joined:Mar 2006
Message Posted: Sep 15, 2012 10:03:00 PM

Ditto
acvw74
Champion Author Missouri

Posts:2,296
Points:1,373,545
Joined:Apr 2011
Message Posted: Sep 15, 2012 10:02:11 PM

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

Posts:4,850
Points:1,029,550
Joined:Dec 2011
Message Posted: Sep 15, 2012 10:00:49 PM

k
mobil1MN
All-Star Author Minnesota

Posts:670
Points:1,313,835
Joined:Sep 2007
Message Posted: Sep 15, 2012 9:59:39 PM

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

Posts:5,613
Points:1,367,980
Joined:Apr 2006
Message Posted: Sep 15, 2012 9:58:55 PM

okay
ramshot412
Champion Author Riverside

Posts:23,245
Points:3,192,235
Joined:Apr 2004
Message Posted: Sep 15, 2012 9:58:45 PM

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

Posts:1,344
Points:1,120,055
Joined:Oct 2011
Message Posted: Sep 15, 2012 9:58:41 PM

Oh Goodie
fullauto
Champion Author Reading

Posts:7,140
Points:1,886,695
Joined:Apr 2008
Message Posted: Sep 15, 2012 9:58:35 PM

*BOHICA*
Buck_on_Bass
Champion Author Tennessee

Posts:11,200
Points:2,081,220
Joined:Jul 2007
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.
pickledude72
Champion Author California

Posts:1,123
Points:846,955
Joined:Jul 2008
Message Posted: Sep 15, 2012 9:54:13 PM

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

Posts:9,278
Points:2,136,810
Joined:Feb 2008
Message Posted: Sep 15, 2012 9:53:53 PM

Okay........
slayur
Champion Author Chicago

Posts:1,600
Points:1,839,235
Joined:Sep 2005
Message Posted: Sep 15, 2012 9:53:16 PM

ok
Post a reply Back to Topics