Are we going to see $7.00 a gallon gasoline soon?

[ARtraveler]

Gloom & Doom time again.

Has anyone noticed on the news that the crazies in Iran are threatening to shut down the Straits of Hormuz? Most of the oil tankers supplying the world market travel through there.

Are we being set up again for high gas prices and military action, or a war with Iran in the Straits?

If any of the military things begin to happen--I am guessing we will see $7.00 plus a gallon for gas.

The usual pattern, if anything happens there, is that the prices at the pump will rise overnight. I can see gas going to $7.00 and then coming back down all the way to $5.00 so that we are all comfortable with the "new" price at a dollar or so higher than what we are paying now.

 

[Bob Denman]

I honestly don't think that any politician would let that happen with elections coming up... Iran is just making noise with no real chance of actual repercussions occurring if political sanctions are ramped up against them...

 

[ARtraveler]

I so, want to believe your answer Bob. :thumbup:

 

[Bob Denman]

As do I! :shocked:

 

[SheWolf]

I heard that by summer oil's gonna be $300 a barrel...hooooly shyt.:shocked:

 

[Bob Denman]

I listened to BBC America news this morning, and Iran was rattling their sabers a bit. Closing the Strait "wouldn't be a problem". My gut tells me that if they tried to blockade it and the U.S. Navy called them on it, the Strait of Hormuz wiuld be blocked from all of the Iranian Naval vessels sunk in the shipping lanes...
Which might just be their plan! :gaah:

 

[waytootall67]

"Dirty" oil from Alberta isnt looking so bad now is it?

 

[Bob Denman]

Duane,
Can't you take a shovel out back and see what bubbles up if you start digging??? :shocked: :roflblack:

 

[SheWolf]

Canada's ok...we have our own oil...just try telling that to the rest of the country.:shocked:

 

[ARtraveler]

Bob: Out back is where my septic system is. If I dig and find black and bubbly--I don't think it would be crude oil. Unfortunately :roflblack:

 

[Bob Denman]

...Maybe just a little bit further back out-back then... :shocked: :roflblack:

 

[Sarge707]

Thanks for reminding me to call for a Heating oil delivery Friday ($3.38 in CT) Before it hits the ceiling!

 

[bruiser]

The state of North Carolina is upping it's fuel tax again 1 Jan. That is the second time in less than a year. This puts us #1 in the southeast and probably the east cost in fuel tax. And on top of the the Fed is also raising the fuel tax as well. So the 3.15 I paid today will go to probably 3.60 1 Jan. :cus: :cus: :cus:

 

[bruiser]

Oh yeah, Iran still flys the old F4E. As much as I love that old Rhino, it's no match for the FA18 Superhornet or the F15E. The US is in the process of selling F15s to Saudi as well. Iran is not getting the attention now since Kim Jong Ill died so they have to do something. IMHO they want to goad us into a fight anyway. They may get more than they bargain for.

 

[Roadkill]

+Here's a couple of informative articles on the current situation.

http://tinyurl.com/GulfTension1
http://tinyurl.com/GulfTension2

Yet another reason I picked up the fuel-miserly CBR250R...

http://www.fuelly.com/driver/rdkil1/cbr250r

Ride on.
Roadkill

 

[vampyregirl]

Nothing like another recession to further beat down the middle class......

I won't be able to afford to go to work!!!!!

 

[mrb]

In Australia we pay an average around $1.50 per litre so thats $5.67 per gallon (Oz dollar has parity with US dollar currently.)

 

[SPYD1]

BRP needs to come out with a battery powered Spyder!!!

 

[ARtraveler]

The links posted in reply #15 give a lot of background to the story--worth reading.

I am currently paying 3.96 per gallon for 90 octane. Mid and lower grades are $3.86 and $3.76 per gallon.

 

[Bob Denman]

Oh yeah, Iran still flys the old F4E. As much as I love that old Rhino, it's no match for the FA18 Superhornet or the F15E. The US is in the process of selling F15s to Saudi as well. Iran is not getting the attention now since Kim Jong Ill died so they have to do something. IMHO they want to goad us into a fight anyway. They may get more than they bargain for.

As I said; they'll shut down the strait with their own sunken vessels...