October 10th, 2010
03:53 PM ET

Gas prices up 8 cents a gallon in U.S. in two weeks

U.S. gas prices rose by 8 cents over the past two weeks, pushed up by a spike in crude oil prices, according to a new survey of filling stations.

The latest Lundberg Survey, conducted Friday, found the average price of self-serve regular gasoline was $2.77 per gallon.

That's 8 cents higher than from the last survey, two weeks ago, survey publisher Trilby Lundberg said.

FULL STORY


Filed under: Economy • Energy
soundoff (141 Responses)
  1. Phil

    If you look at the price of crude compared to how it was 5 years ago, and look at the gas prices today, someones making alot more money than 5 years ago.

    October 10, 2010 at 4:19 pm | Report abuse |
    • Bigtime

      Those criminals continue to leave Americans with no money. I hope all the families in the oil business suffer in the future since they have ruined so many lives. I am making a promise to not drive 3 weeks out of the month. MY MESSAGE TO ALL AMERICANS: DO NOT BUY GAS OR BUY ANYTHING PLASTIC ON DECEMBER 1ST THRU 3RD. We must all band together and begin to do this every month until they lower the gas prices. Then we must all buy electric cars so these guys learn the lesson now!!! So what if you have to re-charge! Don't be lazy and be heard!!! Our country is out of control and now is the time to stop them before it's too late! Unemployment will rise to an unrecoverable state and understand this is bad news for WALL STREET. They need to see the writing on the wall. What affects us now will devastate them soon after!!! This country is failing at a record rate. I am so sorry that we all are slaves under Big Oil and government!!!! This really sucks! I hope all my country men hear this message.

      October 10, 2010 at 5:46 pm | Report abuse |
    • Glenn

      Please be cautious when casting aspersions towards the oil industry. My father-in-law worked on land based oil rigs most of his life and retired as a driller making less than $30k/yr. Most of the guys who risk their lives and get their hands dirty generally do not make more than a lower-middle class salary and receive a bare minimum of benefits; it is generally a "No work, no pay" type of environment with no sick time or vacation pay & minimal health care, if any at all. On the other hand, my cousin's husband on the other side of my family is in upper management for an oil company and receives somewhat frequent bonuses in excess of $30 to 40k; he's one of those people we probably all want to hate on some level.

      While some in the oil industry are not well paid & others are pretty well paid the actual price we pay as consumers is most heavily influenced by many other factors. Oil companies have unique ability to control the supply of something that modern society needs; they can shut off wells that "aren't effecient" when crude prices fall, if they shut off enough wells, the price gets corrected, or they can delay refinery maintenance until the prices drop, theyby pushing down the supply relative to demand. On the other hand, when prices are high, they make sure that all gears are spinning in sync and claim it's because they are trying to keep the consumers from paying high prices.

      The Wall ST speculators carry far more blame for pricing as they place enormous bets on how much oil the world uses. Any little piece of news related to large regions having cold weather, job fluctuations or supply interruptions cause oil futures to jump far more than most anything the oil industry would do. As the speculators see the world's job markets start trickling back to life, they will be betting that oil demand will rebound accordingly ($200bbl is their current thinking) and when they start pushing up the futures market, the price at the pump will see a corresponding and almost immediate rise.

      If you want your kids to have financial security teach them two things; how to save for rainy day and the art of high finance. Should they ever make it into Wall ST, they will be the quiet winners behind the scenes that will rarely be held responsible for the plight of the working class finances.

      October 10, 2010 at 6:39 pm | Report abuse |
    • cleat

      It must be Bushes fault...He was singlehandly responsible for all your crying they last time it went up like this- you dems blamed him for not "fixing" it... Well its going to happen again, all under obummers/dems watch, but now somehow it will be "big oil" and every other possible excuse you can come up with other than obummer. Being so obviously two-faced is not a good trait in a election year.

      October 10, 2010 at 6:41 pm | Report abuse |
    • Reality check

      Bigtime ... gas or plastic? How about naptha, natural gas (shut off your furnace), kerosene, diesel or oil based lubricants just to name a few. How about, don't EVER buy any products that were delivered to a store using a gasoline or diesel powered vehicle? How about any food that has been planted or harvested with a tractor using an oil based fuel? The worlds economies are not sustainable without crude oil, we will all be out of jobs & living at a subsistance level. We need a "new clean alternative power source" before anything will change or until we run out of oil.

      October 10, 2010 at 6:44 pm | Report abuse |
    • Good citizen

      @ BIGTIME: I totally agree with you. let's boycott these animals protected by the GOP and the Tea party.Do not buy gas for 2 or 3 days plastic included in December. By the way I am ans independant if you ask yourself the question!!!

      October 10, 2010 at 10:12 pm | Report abuse |
    • Wzrd1

      I was deployed during the big oil price jump, but got to see the news on base and read about it.
      Funny thing is how Big Oil made record profits when the price jumped. Record profits, when all other industries were going down. Indeed, when all other businesses tanked, Big Oil has been making record profits.
      Someone KINDLY explain HOW oil prices can spike AND the oil companies can make RECORD PROFITS at the same time, unless the system is fixed and profiteering is going on.
      Indeed, I predicted a recession when those prices went up, as all other prices would have to rise to compensate for the fuel price to bring commodities to market.
      They did, then the banking system turned into soot due to the destabilization.
      THEN we get the BP mess in the Gulf, a fair amount due to skimping on budget.
      Regulate them into submission or eliminate them altogether and move back a bit until an innovator quickly assumes position to replace them. It's called replacing protectionism with Darwinian economics. Something that's worked QUITE well in every other economic crisis.
      And since winter is coming in, I think we'll see some innovations like a Mike Foxtrot!

      October 11, 2010 at 12:39 am | Report abuse |
    • Wzrd1

      Bigtime, gas and plastic? How about drugs? A LOT are derived from oil. How about fertilizer? Derived from oil. Pesticides? Oil. Many household cleaners? Oil based. Paint? Oil.
      Frankly, I'm scratching my personal parts to see if THOSE are made from oil these days!
      As for not driving, I'm not driving whenever possible now. Drive less and I starve literally. I can't afford the loanshark rate gasoline prices!
      And CNN is WAY behind the time, we've jumped a LOT more in the Philadelphia area than that. Never figured out why, as we're up to our armpits with refineries here, but places inland without those "accidental leak plants" pay less. We only get a handful of collapsed lungs with each screech from a plant and pay more for the product.
      It's times like this that I think my 27+ years of supporting this nation in the military was wasted and that I was on the wrong side!
      Thanks a lot, Oilington, DC!

      October 11, 2010 at 12:45 am | Report abuse |
    • James S.

      I love seeing everyone talking about gas in the $2.70-$2.80/gallon range. And the last time I saw it under $3/g? couple of years ago. During the last price surge I was paying $4.44/g. Where do I live? Alaska. Now you ask "HOW can anyone with that much oil in their state and their own refineries pay that much?". the system is broken. its not supply and demand; its how much they can gouge us for. Today gas is up to $3.37/gal and will only continue to rise as oil again climbs higher. Maybe we should make some of those oil futures speculators pay our gas bills for awhile lol It's not Bushs fault, its not Obamas fault. the entire system is broken. thats just how it is right now

      October 11, 2010 at 1:27 am | Report abuse |
    • Howard

      Here's something to think about. Our society does not leave it to private companies to make a profit producing clean water for human consumption. We also regulate the cost of electricity. So, why do we allow profit driven companies to have unrestricted control of the flow and cost of the life-blood (oil) of an industrialized society?

      October 11, 2010 at 3:00 am | Report abuse |
    • Charlie

      Please don't do that. Then again, it will have no effect on my Exxon stock. BTW Brainiac – Dec 1-3 is three days, not three weeks. And as a working stiff, I can't afford not to drive.

      October 11, 2010 at 3:31 am | Report abuse |
    • Matthew

      You know what you get when everyone doesn't buy gas December 1st-3rd? Record gas sales on December 4th. If you're going to buy the gas anyway, what good is it to delay purchasing it 3 days? This has got to be the worst, least effective way to protest gas prices.

      October 11, 2010 at 3:21 pm | Report abuse |
  2. Cindy

    Don't know where this 8 cent thing is coming from – here in SE Wisconsin, it literally went up 20 cents overnight and has been rising ever since.

    October 10, 2010 at 4:25 pm | Report abuse |
    • db

      And it will continue to rise until we say no more.

      October 10, 2010 at 4:29 pm | Report abuse |
    • cmkc

      Exactly – here in Nashville it went up 15 cents overnight and not one word on any local newscast. Grocery store prices are up (insidiously). Kroger has added 10 cents to alot their prices as a ploy to try and keep us from noticing. Corporate America ups their profits even in these times of their tax breaks and already record profits.

      October 10, 2010 at 4:43 pm | Report abuse |
    • Glenn

      Agreed. It went up 11 cents here in central MA last Friday night and another 14 cents in the last 7 days.

      All summer we heard about how gas prices would continue to drop because supplies were at all time highs at the end of the driving season. I don't know if the Wall ST speculators are at it again, or the oil companies decided to slow down production, but it sure doesn't seem like demand could have gone up enough to warrant a 10% increase in one week.

      Doesn't seem like anybody gives a hoot that the extra $5/week it cost me to get to work means I have $5 less to spend in this extremely fragile economy.

      October 10, 2010 at 5:19 pm | Report abuse |
    • k

      We knew this would happen

      They gotta pay for that Nightmare in the Gulf and we know it wont come out of the Stockholders profits

      Get ready for $4+ gas because it is coming soon

      October 10, 2010 at 6:10 pm | Report abuse |
    • Jeff Schmitt

      Same here in Southern Indiana. And our "average price" around the area is nowhere NEAR 2.77. Try 2.89. Guess that's what I get for living here in the sticks where there are only three distributors gouging...I mean setting the prices.

      October 10, 2010 at 6:36 pm | Report abuse |
    • Derek

      Same situation here in Maryland, pretty much. Fuel was $2.53 two weeks ago and now it is up to $2.79. 8 cents??? I think not.

      October 10, 2010 at 9:20 pm | Report abuse |
    • Rick

      @db I thought we said more last time gas prices went up... and the time before that... and the time before that.

      October 10, 2010 at 10:03 pm | Report abuse |
  3. db

    As we sit on the largest crude oil reserves in the world, we let the world set the price of crude oil, when we purchase from them, which is crippling the recovery of our own economy. Who is responsible for not allowing US based oil compan ies from going after these land based reserves of oil, it's the Washington Political repersentatives that are receiving foreign and national kick backs and of course the tree huggers.
    Oil is a natural product for crying out loud. Drill responsibly for it. Limit the areas that can drilled in and legislate any form of contamination to the environment with immediate and severe penalties, including fellony charges and jail time against the officers of any offending company. Let oil companies build more refineries to crack the oil and replace the ones that have met with distruction from fire or envornmental damages. Look at how much you spend on oil/gas and say to yourself, what percentage of my income goes to foreign interests and not other Americans? Keep our money here, build our economy, build our reserves up and stop the proliferation of government waste, and our dollars going to governments who exploit what we do not believe in. Stop the support of terrorism against us. Buy only American, including automobiles and machines. If you don't, you may be the next one on the employment chopping block, end up on the never ending unemployment lines, losing your home, security, and everthing you have worked for to date. Be responsible, get those in Washington that have controlled us for so long out of office in November and send Washington a message that they represent us and our needs, we do not represent them and their greed.

    October 10, 2010 at 4:27 pm | Report abuse |
    • Kermit Roosevelt

      Hear, hear. I'm all for conservation, but if it's a choice between kowtowwing to the Saudis or making the spotted owl extinct by drilling the crap out of his forest, it's not a difficult decision.

      October 10, 2010 at 6:01 pm | Report abuse |
    • Sagebrush Shorty

      In model year 2010 you could not buy a Chevrolet truck that was assembled in the United States.

      October 10, 2010 at 6:31 pm | Report abuse |
    • Sagebrush Shorty

      Sorry, forgot to add that you could buy a Toyota truck that was assembled in the United States.

      October 10, 2010 at 6:32 pm | Report abuse |
  4. SandyC

    I just got back from the grocery store. Gas was up 9 cents since last week and some common items in the store were higher. Is this what they call 0% inflation?
    Everything is inflating except my paycheck!

    October 10, 2010 at 4:30 pm | Report abuse |
  5. Moh from NY

    That's what we get for letting the government print as much dollar bills as they need to finance their enormous deficits. The more Washington spends, the less our dollar is worth. Government caused inflation is up over 10%, not the 0% they claim!

    October 10, 2010 at 4:38 pm | Report abuse |
  6. gene

    Living here in Mexico, the prices have been going up about 10 cents a month for almost a year. Of course the prices are set by the government so this was a planned increase for nearly 2 years. No one, including the public and commercial side of Mexico likes it but at least they knew about it a year in advance.
    The good news is that crude oil prices are on the rise...time to make some money here and pay for the outsourced war on drugs! Thanks addicts of america!

    October 10, 2010 at 4:40 pm | Report abuse |
  7. Angie Crisp

    Was just in San Francisco and the Supreme- the most exspensive was $3.59 a gallon. It was 40 more cents than in LA at $3.19. Has to be the highest in the country.

    October 10, 2010 at 4:44 pm | Report abuse |
    • Matthew S.

      Not to be rude, but 3.59 a gallon is 30 cents a gallon less than it is here in Kenai, AK. Our gas has been between 3.69 and 3.89 a gallon for regular grade for months. Just keep on driving, there is no public transportation here.

      October 11, 2010 at 2:45 am | Report abuse |
  8. Paden

    In Michigan gas is 50-60 cents a gallon.
    the last time the cost went this high was just prior to the 08 election...just like now.
    But two years ago, the left blamed Bush and his "war for oil", now those same people aren't saying much..

    October 10, 2010 at 4:45 pm | Report abuse |
    • cmkc

      Sorry – I thought it went without saying - Bush's war for oil is still ongoing, or haven't you heard? Did you think Pres. Obama could wave a magic wand and clean up the Republican mess so easily? Americans and our need for instant gratification and need to pop a pill and make it better have the patience of a spoiled 2 year old - yeah, let the Republicans back in to CONTINUE with the mess they created under Bush. There, I said it.

      October 10, 2010 at 4:56 pm | Report abuse |
  9. thhhhhhhhhh

    Thats ok my car runs on hopes and dreams

    October 10, 2010 at 4:47 pm | Report abuse |
    • Sagebrush Shorty

      I'll bet it gets lousy mileage.

      October 10, 2010 at 5:56 pm | Report abuse |
  10. Paden

    fuel rose 50-60 cents more a gal in Michigan

    October 10, 2010 at 4:47 pm | Report abuse |
  11. jo ann burger

    Hey, everyone come to the State of Kansas to enjoy LOW, LOW, LOW gas prices. Last week we went from $2.62 to $2.64 to $2.68 to $2.72 and today it's the low, low price of $2.79. Isn't that exciting? And, the head honcho's of the Powers That Be, state that we are in line...the national average on the net today is $2.77. Podunk city in SE KS has been higher than everywhere else...Missouri is charging $2.62...just bought some last night! Why in the world would anyone want to "shop at home" with rip-off's like this? I will continue to cross the State line, wouldn't you?

    October 10, 2010 at 4:50 pm | Report abuse |
    • Buck

      HELL YEAH!!

      October 10, 2010 at 7:07 pm | Report abuse |
  12. Ian

    Mine too, just topped off the tank with a dash of "change and Hope"
    I can't wait until government motors starts selling those Unicorns that poop lollipops and sing kum-ba-ah

    October 10, 2010 at 4:51 pm | Report abuse |
    • cmkc

      Pres. Obama trying to work with the Republicans has been like trying to play catch with someone who throws down his mitt like a pouty little kid and refuses to play (and who make up such clever little sound bytes).

      October 10, 2010 at 5:00 pm | Report abuse |
    • Jeff

      Watching Obama try to be president is like watching a 4-year-old play a game meant for adults. Stars in the eyes.....gazed look......totally unsure of what to do. It's actually embarrassing to watch him.

      October 10, 2010 at 5:23 pm | Report abuse |
    • Takara

      I seem to recall Bush doing that most of the time he was in office. But yeah, this isn't a political thing. It's a broken system that neither want to fix until we do something about it. I.E. Alternative fuels, renewable/sustainable energy.

      October 11, 2010 at 2:10 am | Report abuse |
  13. d

    it'll go back down.,..it always does.

    October 10, 2010 at 4:54 pm | Report abuse |
    • Robert

      Nothing is ever gonna be the way it was.

      October 10, 2010 at 4:59 pm | Report abuse |
  14. Liz Carrico

    What about the price of diesel? 50 cents higher than regular here in Washington State. Why, why, why? We are feeling really gouged. Up to $3.55 a gallon on Friday.

    October 10, 2010 at 4:56 pm | Report abuse |
  15. Help here

    Hey Guys, will you visit.SaveStan. ORG a friend of mine with 4 young babies is fighting for his life..... Thanks

    October 10, 2010 at 4:57 pm | Report abuse |
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