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Gas Prices Up 1.5 Times in Four Years

WallSt -- According to the Bureau of Labor Statistics, inflation in the U.S. economy was 1.7% in 2012.

As I have written in these pages, the way the official inflation rate is calculated is obsolete. Real inflation is running much higher than 1.7%.

Oil Price Information Service reports that, in 2012, $479 billion in gasoline was purchased by consumers in the U.S. economy. If you compare this number to 10 years ago, Americans are spending two and a half times more on gasoline. (Source: CNN Money, February 4, 2013) than they did in 2002. But consumer spending on gasoline didn’t go up because of increased demand; it went up because oil prices went up.

According to the Energy Department, Americans are now spending four percent of their income to buy gasoline, but they are actually buying lower

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Submitted Feb 08, 2013 By: aservant

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honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Feb 12, 2013 5:05:49 AM Ignore honda0105 Report Abuse then again, we started extremely high in August 2008, came down and went back up.
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Feb 12, 2013 5:05:18 AM Ignore honda0105 Report Abuse then again, we started extremely high in August 2008, came down and went back up.
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Feb 12, 2013 5:04:34 AM Ignore honda0105 Report Abuse wouldn't need to be if deregulation hadn't happened some years ago. Or if the specutraitors were reined in a bit.
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Feb 10, 2013 11:01:16 PM Ignore honda0105 Report Abuse Wolfman: you raise some good points.
Wolfman_TJack Champion Author Twin Cities Posts:2,529 Points:463,315 Joined:Feb 2012	Message Posted: Feb 9, 2013 9:02:30 PM Ignore Wolfman_TJack Report Abuse Michael Lombardi who contributed to this newsletter from investment and advertising firm Wall Street Sector Selector said, “As investors, we need to take a serious look at our investment portfolios and ask, ‘How will my investments be affected by an American grown recession?" How ironic! An American grown recession that investor advisor Michael Lombardi and investment and advertising firm Wall Street Sector Selector (Your home for ETF Investing) helped contribute to with their Exchange-Traded Funds (ETF's). Some critics claim that ETFs can be, and 'have been', used to 'manipulate' market prices, including having been used for 'short selling' that has been asserted by some observers (including Jim Cramer of theStreet.com) to have contributed to the market collapse of 2008!! Anyone can peddle investment advice...look at all of those “ investment trading seminars”. They get your money, you try out their “ secret” formula, it doesn't work, you lose money and the peddlers are gone. There's a Sucker born every minute!
slowtrain Champion Author Georgia Posts:3,682 Points:951,825 Joined:Aug 2008	Message Posted: Feb 9, 2013 5:49:04 PM Ignore slowtrain Report Abuse Yesterday's news.
Wolfman_TJack Champion Author Twin Cities Posts:2,529 Points:463,315 Joined:Feb 2012	Message Posted: Feb 9, 2013 1:10:11 PM Ignore Wolfman_TJack Report Abuse Michael Lombardi is an investment advisor and writes newsletters. Michael’s Personal Notes for Wall Street Sector Selector - Your home for ETF Investing: On the other side of the equation, I see gold bullion as the greatest opportunity to offset the paper money printing of world central banks. As the fiat currencies go down in value, gold bullion will rise in value. Central banks are certainly able to turn up their printing presses to print paper money, but they can’t just create more gold, as there is only a limited amount of it. I will turn bearish on the yellow metal when I see central banks turning off their printing presses; and I don’t expect that to happen for quite a long time. Therefore, I am as bullish as ever on gold bullion. “As investors, we need to take a serious look at our investment portfolios and ask, ‘How will my investments be affected by an American grown recession?’ You should take what precautionary steps you can right now to protect yourself from a recession in 2007. Maybe you need to cut your own spending or maybe you need to sell some stocks that will take a beating during a recession. You know what tidying up you need to do. Don’t procrastinate…get to it now. And please remember: recessions can happen quickly, stock markets don’t go up during recessions, and the longer the boom before the recession, the longer the recession. Just based on my last point, we have plenty to worry about in 2007.” Michael Lombardi in Profit Confidential, November 13, 2006. Anyone can peddle investment advice...look at all of those “ investment trading seminars”. They get your money, you try out their “ secret” formula, it doesn't work, you lose money and the peddlers are gone.
Wolfman_TJack Champion Author Twin Cities Posts:2,529 Points:463,315 Joined:Feb 2012	Message Posted: Feb 9, 2013 12:48:01 PM Ignore Wolfman_TJack Report Abuse Did you read the disclaimer at the bottom of this advertisement? Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer, Terms of Service, and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.
Wolfman_TJack Champion Author Twin Cities Posts:2,529 Points:463,315 Joined:Feb 2012	Message Posted: Feb 9, 2013 12:45:46 PM Ignore Wolfman_TJack Report Abuse This article GasBuddy members should have never been allowed to be presented on GasBuddy.com This article is nothing but a Wall Street Investment and Advertising Blog from: Wall Street Sector Selector - Your home for ETF Investing! Contributed by Profit Confidential An Exchange-Traded Fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. According to a study on ETF returns in 2009 by Morgan Stanley, ETFs missed in 2009 their targets by an average of 1.25 percentage points, a gap more than twice as wide as the 0.52-percentage-point average they posted in 2008. Part of this so-called tracking error is attributed to the proliferation of ETFs targeting exotic investments or areas where trading is less frequent, such as emerging-market stocks, future-contracts based commodity indices and junk bonds. In a survey of investment professionals, the most frequently cited disadvantage of ETFs was the unknown, untested indices used by many ETFs, followed by the overwhelming number of choices. Some critics claim that ETFs can be, and have been, used to manipulate market prices, including having been used for short selling that has been asserted by some observers (including Jim Cramer of theStreet.com) to have contributed to the market collapse of 2008.
Tug237 Rookie Author Tampa Posts:80 Points:13,335 Joined:Aug 2012	Message Posted: Feb 9, 2013 10:50:24 AM Ignore Tug237 Report Abuse This is manipulation?
Alaydown Champion Author Los Angeles Posts:5,131 Points:825,570 Joined:May 2007	Message Posted: Feb 9, 2013 10:10:09 AM Ignore Alaydown Report Abuse gs7101, we are dealing with it. Just because he fraudulently won the election doesn't mean we should treat him as an emperor. We need to change majority parties in the Senate so we can slow Obama's destruction of this country so it is not beyond repair when he leaves office in 4 years. [Edited by: Alaydown at 2/9/2013 11:11:12 AM EST]
gs7101 Champion Author San Antonio Posts:5,538 Points:389,345 Joined:Jun 2009	Message Posted: Feb 9, 2013 6:39:57 AM Ignore gs7101 Report Abuse Still blaming Obama for high gas prices? The election is over -- deal with it!
gravityhurts Champion Author North Carolina Posts:4,108 Points:940,430 Joined:Sep 2008	Message Posted: Feb 9, 2013 4:32:38 AM Ignore gravityhurts Report Abuse Thanks Mr Hope and Change.
KAR120CSII Champion Author Oregon Posts:3,193 Points:623,645 Joined:Apr 2010	Message Posted: Feb 9, 2013 1:40:58 AM Ignore KAR120CSII Report Abuse wow
RogerB2 Rookie Author Indianapolis Posts:83 Points:18,785 Joined:Jan 2013	Message Posted: Feb 9, 2013 1:35:21 AM Ignore RogerB2 Report Abuse O K
Zonk Champion Author Michigan Posts:6,501 Points:2,106,015 Joined:Oct 2005	Message Posted: Feb 8, 2013 11:39:44 PM Ignore Zonk Report Abuse rx7racerca: I liked your analysis.
N5EXY Champion Author Austin Posts:5,512 Points:1,513,480 Joined:Jul 2004	Message Posted: Feb 8, 2013 11:10:05 PM Ignore N5EXY Report Abuse How does something go up a half of a time?
boatfloyd Champion Author Jacksonville Posts:1,738 Points:391,975 Joined:Mar 2012	Message Posted: Feb 8, 2013 11:09:16 PM Ignore boatfloyd Report Abuse Inflation
Glock26 Champion Author Dayton Posts:1,544 Points:636,385 Joined:Mar 2011	Message Posted: Feb 8, 2013 11:04:38 PM Ignore Glock26 Report Abuse Thanks Obamie!!!
DustyHorse Champion Author Virginia Posts:6,103 Points:1,394,770 Joined:Oct 2008	Message Posted: Feb 8, 2013 11:04:12 PM Ignore DustyHorse Report Abuse Disgusting.
seahawks Champion Author Washington Posts:3,232 Points:1,964,720 Joined:Sep 2005	Message Posted: Feb 8, 2013 11:04:08 PM Ignore seahawks Report Abuse just because summer is just around the corner!!!
rahcat Champion Author Grand Rapids Posts:2,488 Points:666,200 Joined:Jan 2010	Message Posted: Feb 8, 2013 11:03:06 PM Ignore rahcat Report Abuse I'm sure the Obama Regime has a big COLLECTIVE smile.
Jeff1944 Champion Author South Dakota Posts:4,249 Points:1,077,545 Joined:Jan 2010	Message Posted: Feb 8, 2013 11:01:36 PM Ignore Jeff1944 Report Abuse We all know that us on Social Security with its 1.7% increase suffered at least a 20% increase in gasoline costs in the past 3 years. DUH!!!!!!!!!!!!!!!!!!!!!
grt197 All-Star Author Illinois Posts:588 Points:128,510 Joined:Jan 2013	Message Posted: Feb 8, 2013 11:01:26 PM Ignore grt197 Report Abuse NO HELP FOR COMMOM MAN
Mikeyl Champion Author Cleveland Posts:5,177 Points:1,187,945 Joined:Aug 2004	Message Posted: Feb 8, 2013 11:01:16 PM Ignore Mikeyl Report Abuse Same story, different day...
CharlieC08 Champion Author Colorado Posts:8,077 Points:1,486,075 Joined:Oct 2008	Message Posted: Feb 8, 2013 10:58:51 PM Ignore CharlieC08 Report Abuse Gas prices going up won't help.
rx7racerca Champion Author Calgary Posts:4,208 Points:1,114,865 Joined:Sep 2008	Message Posted: Feb 8, 2013 10:58:30 PM Ignore rx7racerca Report Abuse Aviator Rob: the US IMPORTS ~48 percent of the the oil it consumes - roughly 9 million barrels per day. In other words, the US remains, as it has been for decades, the world's largest importer (and consumer) of crude and crude products. US refineries do export around 1.5 million bpd in refined products (which does not count towards domestic consumption or imports, because it is imported, then exported) - gasoline, diesel, bunker fuel, and lubricants - because the US isn't consuming them. That is surplus refining capacity, owing largely to the fact that US consumption has declined by nearly 2 million bpd from its peak in 2004. If those refineries weren't exporting crude (which is imported for them to refine in the first place), they would be closed. Refineries are expensive to operate, and operating costs are nearly the same if they run at capacity, or at 50% - which means that if a refinery can't find buyers for nearly its full capacity, it will shut down - it won't be competitive in the market, leading to further declines in sales, in a vicious cycle. Since Americans aren't buying as much fuel, those refineries either find foreign buyers, or shutter. Don't confuse surplus refining capacity with some oil industry conspiracy to drive up prices (that's Wall Street and the futures market's job!). The US currently has surplus refining capacity, and an inadequate pipeline network to get domestic oil to markets where its lower price could help high gas prices caused by reliance on imports of top-dollar Brent and OPEC crudes - the Northeast and California in particular. US exports of refined products are just keeping Americans employed, and shareholders happier, but are not a cause of higher domestic prices - in fact, in many cases it would be the opposite, because those refineries that are exporting some portion of their output would either have higher unit costs, or shut down, in either case leading to higher domestic prices of refined products.. [Edited by: rx7racerca at 2/9/2013 12:02:08 AM EST]
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Feb 8, 2013 10:58:06 PM Ignore bonzoonfmb Report Abuse Gas prices are too high.
snagged Veteran Author Akron Posts:396 Points:112,780 Joined:Oct 2012	Message Posted: Feb 8, 2013 10:56:08 PM Ignore snagged Report Abuse Gas is $3.62 and on its way to $4.
CISA Champion Author Orange County Posts:5,956 Points:1,400,940 Joined:Dec 2006	Message Posted: Feb 8, 2013 10:52:24 PM Ignore CISA Report Abuse next
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:48:24 PM Ignore Aviator_Rob Report Abuse And boy, the Internet trolls are thick tonight! Don't you fellas get tired of regurgitating the same tired arguments, over and over again?
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:47:12 PM Ignore Aviator_Rob Report Abuse So tell us, @AKmailman, who do you trust? I'm guessing the answer is "Nobody".
rjoeh Champion Author Michigan Posts:7,096 Points:2,473,140 Joined:Jun 2004	Message Posted: Feb 8, 2013 10:46:02 PM Ignore rjoeh Report Abuse I agree with the premise of the article from a financial perspective and experience.
clermont40miles Champion Author Cincinnati Posts:10,596 Points:1,775,795 Joined:Apr 2008	Message Posted: Feb 8, 2013 10:45:03 PM Ignore clermont40miles Report Abuse Lousy web page. Article not much better. Not very informative.
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:45:02 PM Ignore Aviator_Rob Report Abuse For the last time, @Lukus, gas taxes are not a percentage of gas prices. It's a fixed tax price per gallon. Tax revenue would be higher if Americans bought MORE gas but since consumption is down, so is tax revenue.
BREW9 All-Star Author Tampa Posts:901 Points:2,915,880 Joined:Jun 2004	Message Posted: Feb 8, 2013 10:44:29 PM Ignore BREW9 Report Abuse and climbing
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:43:00 PM Ignore Aviator_Rob Report Abuse How's that plan working, @A_NY_Outlaw? Here we are five years after the Great Recession began and nobody on Wall Street has gone to jail. In fact wealth inequality is greater than ever so tell me again how the President is redistributing wealth from the rich and middle class to the poor. Right now, the Rich are redistributing wealth from the Middle Class. They would do the same with the Poor but it's not worth the effort.
Doomsday64 All-Star Author Austin Posts:879 Points:339,930 Joined:Apr 2011	Message Posted: Feb 8, 2013 10:42:23 PM Ignore Doomsday64 Report Abuse And going higher!
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:39:54 PM Ignore Aviator_Rob Report Abuse Funny you mentioned guns vs. butter, @mstearno. Which do you want? We can't afford both and you can't eat guns.
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:38:40 PM Ignore Aviator_Rob Report Abuse George Walker Bush and Dick Cheney, @scubadaniel. Mmmm, mmmm, mmmm.
Aviator_Rob Champion Author New York Posts:3,816 Points:417,015 Joined:Mar 2012	Message Posted: Feb 8, 2013 10:37:45 PM Ignore Aviator_Rob Report Abuse What a waste of an article. Basically a thinly veiled advertisement to buy gold. Why are gas prices up? Because Big Oil is exporting petroleum products out of the country as fast as the refineries can turn them out. There is no overabundance of supply because the rest of the world is buying it up as fast as they can. China won't be happy until all 1.3 billion of their people have a car.
yakstar Champion Author Montreal Posts:2,440 Points:482,895 Joined:Jan 2012	Message Posted: Feb 8, 2013 10:34:19 PM Ignore yakstar Report Abuse sounds rather like economics to me...
Blue48 Champion Author Illinois Posts:7,325 Points:1,641,845 Joined:Feb 2007	Message Posted: Feb 8, 2013 10:30:51 PM Ignore Blue48 Report Abuse BUMMER!
Rainy1 All-Star Author San Diego Posts:582 Points:59,910 Joined:Apr 2012	Message Posted: Feb 8, 2013 10:29:58 PM Ignore Rainy1 Report Abuse Hate when that happens!
skb69sa Champion Author San Antonio Posts:3,502 Points:714,300 Joined:Mar 2011	Message Posted: Feb 8, 2013 10:28:58 PM Ignore skb69sa Report Abuse And 3.5 times since early 2001
movietracker All-Star Author Pennsylvania Posts:695 Points:162,390 Joined:Mar 2011	Message Posted: Feb 8, 2013 10:27:16 PM Ignore movietracker Report Abuse So what's new?
scubadaniel Champion Author Dayton Posts:1,436 Points:694,995 Joined:Jan 2011	Message Posted: Feb 8, 2013 10:25:51 PM Ignore scubadaniel Report Abuse Barack Hussain Obama, mmm, mmm, mmm.
MG_Sputnik Champion Author Philadelphia Posts:7,320 Points:1,963,330 Joined:Apr 2006	Message Posted: Feb 8, 2013 10:23:41 PM Ignore MG_Sputnik Report Abuse Change we can continue to believe in. Let's finish what we started. Yeah like destroying America! We're all doomed!
mstearno Champion Author Dayton Posts:8,085 Points:1,735,115 Joined:Jan 2008	Message Posted: Feb 8, 2013 10:22:52 PM Ignore mstearno Report Abuse I love it blame the gas stations... How about our do nothing energy policy??? THANKS NOBAMA and our weak dollar you don't have to go past econ 101 to learn guns vs. butter and printing money to flood the supply causes inflation look at history we created counterfeit currency to help tumble IRAQ
TXRanger09 Champion Author Dallas Posts:2,519 Points:894,060 Joined:May 2009	Message Posted: Feb 8, 2013 10:22:31 PM Ignore TXRanger09 Report Abuse Interesting article that winds through gas prices, around monitory values, and into buying gold. What do you think the angle is?