Gasoline prices near 'the pain threshold'

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Wednesday, October 15, 2008 4:22:07 PM

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Gasoline prices near 'the pain threshold' Wednesday, May 14, 2008
The Globe And Mail -- CALGARY -- The price of gasoline hit a record of $1.29 a litre in major Canadian cities this week, pushed ever higher by rising oil prices, and economists say the price at the pumps appears to be pinching North American consumers. Retail sales in the U.S. in April fell 0.2 per cent, the U.S. Commerce Department said yesterday, as the sale of trucks and SUVs plummeted almost 20 per cent and gasoline station sales fell 0.4 per cent. "It looks like, at long last, we're seeing drivers respond to the surge in gas prices," said Douglas Porter, deputy chief economist at BMO Nesbitt Burns. "We're getting to the pain threshold for some people, where it's beginning to affect behaviour."
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	Wednesday, May 14, 2008 The Globe And Mail -- CALGARY -- The price of gasoline hit a record of $1.29 a litre in major Canadian cities this week, pushed ever higher by rising oil prices, and economists say the price at the pumps appears to be pinching North American consumers. Retail sales in the U.S. in April fell 0.2 per cent, the U.S. Commerce Department said yesterday, as the sale of trucks and SUVs plummeted almost 20 per cent and gasoline station sales fell 0.4 per cent. "It looks like, at long last, we're seeing drivers respond to the surge in gas prices," said Douglas Porter, deputy chief economist at BMO Nesbitt Burns. "We're getting to the pain threshold for some people, where it's beginning to affect behaviour." Visit The Globe And Mail for full article

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FuelBarge All-Star Author Long Island Posts:827 Points:422,025 Joined:Aug 2005	Message Posted: 5/15/2008 12:38:05 PM	Ignore FuelBarge Report Abuse
	DocWyeth - "Sales of SUV etc are off more than 20% based on other articles posted here." ...and the sad thing is they are ONLY off 20%. If people were truly upset by the high prices, environment damage and poor mileage they would be off something like 80%. I still see the Hummer H2 and H3's lumbering around here. It makes me laugh to see them now. [Edited by: FuelBarge at 5/15/2008 12:39:28 PM EST]
ccf_jeff Champion Author St. Louis Posts:5,810 Points:976,855 Joined:Sep 2005	Message Posted: 5/15/2008 11:28:04 AM	Ignore ccf_jeff Report Abuse
	torquewrench: "How come I see prices still going up" Because the demand worldwide is still going up: Oil Refiners See Profits Sink as Consumption Falls NY Times For decades, global oil prices were tightly coupled to the ups and downs of the American economy. But in recent years, world oil prices have been pulled upward by heavy demand for diesel fuel from developing countries like China. American economic growth weakened in the last few months, but that has mattered little in the upward march of oil prices. “What we see at the gasoline pump is increasingly driven by what is happening elsewhere in the global economy,” said Daniel Yergin, the chairman of Cambridge Energy Research Associates, a consulting firm. ... In its latest monthly report, the International Energy Agency, an adviser to industrialized countries, reduced its forecast for global oil demand for this year, as consumption drops by a bigger-than-forecast 300,000 barrels a day in the developed world. But that decline will be more than offset by growth from developing countries. Consequently, global consumption is expected to rise this year by 1 million barrels a day, to 86.8 million barrels a day. Nearly all that growth will come from China, the Middle East and Russia.
Rick52 Champion Author Milwaukee Posts:1,243 Points:25,770 Joined:Mar 2005	Message Posted: 5/15/2008 11:05:32 AM	Ignore Rick52 Report Abuse
	Complain We would not be in this situation if it weren't for are good old E P A & the SEARREA club they got us by the b---lls with their mandates.. We can go in and drill the place will look as if no one was their they do it with the pipe lines all the time.. We need to go in and lower prices.. Then put are HEARTS $ MIND to finding other forms of energy .. It's hard to think of other sources when you are standing in line for a hanging..Remember the E P A is killing us ..I'm in the construction line of work I see what they do to job sites..( the extra costs & herdales that have to be jumped )
YLHandyman Champion Author Orange County Posts:1,171 Points:191,455 Joined:Feb 2008	Message Posted: 5/15/2008 10:59:26 AM	Ignore YLHandyman Report Abuse
	Is the pain threshold here or are we still just grumbling.
gassy4u Rookie Author Mobile Posts:22 Points:282,570 Joined:Sep 2005	Message Posted: 5/15/2008 10:57:12 AM	Ignore gassy4u Report Abuse
	When the U.S.'s auto and airline industry is totally in shambles I'm sure Congress will get into the game. Just a little too late.
blitzntj All-Star Author Jacksonville Posts:679 Points:133,080 Joined:Dec 2007	Message Posted: 5/15/2008 10:56:59 AM	Ignore blitzntj Report Abuse
	they are way past my pain threshold
DocWyeth Champion Author Pennsylvania Posts:9,127 Points:701,465 Joined:Aug 2005	Message Posted: 5/15/2008 10:53:50 AM	Ignore DocWyeth Report Abuse
	Sales of SUV etc are off more than 20% based on other articles posted here.
pulpwood Champion Author Mississippi Posts:1,207 Points:562,915 Joined:Sep 2006	Message Posted: 5/15/2008 10:53:34 AM	Ignore pulpwood Report Abuse
	Been past it for about the last 50 cents!
KrazyDawg Champion Author California Posts:1,658 Points:280,965 Joined:Aug 2007	Message Posted: 5/15/2008 10:53:20 AM	Ignore KrazyDawg Report Abuse
	It's not bad enough. The day I see people doing 55-65 on a 65 MPH speed limit is when the threshold is felt. If you can go beyond the limit you're not feeling it. Case closed.
kevski Champion Author Oregon Posts:1,185 Points:162,740 Joined:Feb 2008	Message Posted: 5/15/2008 10:53:06 AM	Ignore kevski Report Abuse
	I gotta agree with gerund1...it's more like agony
patchdogMI Sophomore Author Michigan Posts:211 Points:11,265 Joined:May 2008	Message Posted: 5/15/2008 10:50:50 AM	Ignore patchdogMI Report Abuse
	Waiting for this weeks 30cent increase.
laddyboy62 Champion Author Riverside Posts:1,400 Points:958,735 Joined:Mar 2005	Message Posted: 5/15/2008 10:49:22 AM	Ignore laddyboy62 Report Abuse
	been in pain for a while now
Rick52 Champion Author Milwaukee Posts:1,243 Points:25,770 Joined:Mar 2005	Message Posted: 5/15/2008 10:49:02 AM	Ignore Rick52 Report Abuse
	Complain We would not be in this situation
bowler48226 Champion Author Detroit Posts:1,030 Points:289,290 Joined:Sep 2007	Message Posted: 5/15/2008 10:48:50 AM	Ignore bowler48226 Report Abuse
	I agree.
Gerund1 Champion Author Toronto Posts:1,012 Points:811,350 Joined:Apr 2003	Message Posted: 5/15/2008 10:46:48 AM	Ignore Gerund1 Report Abuse
	NEAR THE PAIN THRESHOLD!!!!!!! Got there some time ago. Now it's more like agony.
NissanGirl Veteran Author Oregon Posts:266 Points:145,520 Joined:Jan 2008	Message Posted: 5/15/2008 10:45:53 AM	Ignore NissanGirl Report Abuse
	I don't have a high pain tollerance.
WillyG Champion Author Cincinnati Posts:1,298 Points:455,610 Joined:Aug 2005	Message Posted: 5/15/2008 10:43:27 AM	Ignore WillyG Report Abuse
	My amazement is that sales of trucks and SUVs dropped ONLY 20%. I can see the people that already own the gas guzzlers trying to run the life out of them, but to buy a brand new one right now ?
gasie1 Champion Author Maine Posts:1,852 Points:915,085 Joined:Nov 2005	Message Posted: 5/15/2008 10:41:44 AM	Ignore gasie1 Report Abuse
	The price of gas has been affecting my behaviour for a long time.
s11 Rookie Author Toronto Posts:21 Points:1,595 Joined:May 2008	Message Posted: 5/15/2008 10:41:39 AM	Ignore s11 Report Abuse
	$126.00 per barrel right now- and just in time for a long weekend!
Dragoniar Sophomore Author Grand Rapids Posts:157 Points:287,640 Joined:Aug 2005	Message Posted: 5/15/2008 10:40:46 AM	Ignore Dragoniar Report Abuse
	I am past my pain threshold.
Matts_Pap Champion Author Pennsylvania Posts:1,096 Points:165,800 Joined:Feb 2008	Message Posted: 5/15/2008 10:35:03 AM	Ignore Matts_Pap Report Abuse
	WOW: Montreal 139.4 a litre = $5.28 a gallon WOW!!!!
NCtransplants Sophomore Author Twin Cities Posts:127 Points:54,785 Joined:Jan 2008	Message Posted: 5/15/2008 10:33:20 AM	Ignore NCtransplants Report Abuse
	hangupanddrive is right and cbpilot: check Area 51 Maybe that's where the stockpiles of such articles are buried...
hangupanddrive All-Star Author Michigan Posts:645 Points:902,985 Joined:Aug 2005	Message Posted: 5/15/2008 10:29:20 AM	Ignore hangupanddrive Report Abuse
	No surprise that RV, SUV or truck sales will drop with the high fuel prices. Same old story as in the 1970's era. Nobody ever learns. Cannot rely on foreign oil and be independent. A world economy means the world will rule the United States and we will lose our freedom eventually and it's already started folks!
RochBear Champion Author Minnesota Posts:1,577 Points:473,230 Joined:May 2006	Message Posted: 5/15/2008 10:27:37 AM	Ignore RochBear Report Abuse
	It's too bad you can't simple down size (right size) an SUV. Unfortunately, you have to wait for it wear out, and then get rid of it. The problem is, it takes well over 100,000 miles to wear it out. And just trading it off, does not fix the problem. All it does is shift the burden from Person A's Wallet, to Sucker B's Wallet. Until the gas hog is crushed, and melted down to make two smaller cars, the total energy used as a nation does not change.
torquewrench Champion Author Boston Posts:1,049 Points:204,160 Joined:Sep 2006	Message Posted: 5/15/2008 10:26:26 AM	Ignore torquewrench Report Abuse
	How come I see prices still going up
ts08 Sophomore Author New Jersey Posts:180 Points:47,310 Joined:Apr 2008	Message Posted: 5/15/2008 10:24:26 AM	Ignore ts08 Report Abuse
	same stories every day...gas just keeps going up..whats new
drclark Champion Author Tampa Posts:1,208 Points:178,175 Joined:Apr 2008	Message Posted: 5/15/2008 10:23:49 AM	Ignore drclark Report Abuse
	pinch me, I'm dreaming
KellysDad Champion Author Jackson Posts:1,099 Points:370,965 Joined:May 2007	Message Posted: 5/15/2008 10:23:47 AM	Ignore KellysDad Report Abuse
	To all who respond to this with Big Oil and GREED in your comments, try reflecting on what is really happening. "Oil companies" know that if they can't bring down the price of oil, and gas prices continue to climb, they are in for bad publicity. They NEED customers to be somewhat happy because if WE are not, someone will make them happy (i.e. Sears vs Walmart). Don't get sucked into the fallacy of class warfare hate, it is a political ploy to divide everyone. Supply and demand are still at work. It's just that the "threat" of diminished supply by OPEC is driving prices up. The oil shieks are lining their pockets while they can. And since oil was nationalized in other places which has the same effect; only a gov't dictator gets the $$$. One of the ways to stop the fear is to open exploration in Alaska (ANWR) and offshore in the Gulf of Mexico and the Pacific coast. It is SAFE to do this so you environmental buddies can rest at ease. We NEED this UNTIL viable alternatives can be established.
TheThing All-Star Author Quebec Posts:750 Points:186,875 Joined:Mar 2008	Message Posted: 5/15/2008 10:22:03 AM	Ignore TheThing Report Abuse
	Not $1.29 but $1.39 now
dxwaldo Rookie Author Columbus Posts:27 Points:318,815 Joined:Jun 2006	Message Posted: 5/15/2008 10:18:58 AM	Ignore dxwaldo Report Abuse
	wow! did they really say "NEAR"?!?!?
marbljk Sophomore Author Alabama Posts:108 Points:985,565 Joined:May 2004	Message Posted: 5/15/2008 10:18:37 AM	Ignore marbljk Report Abuse
	I'm already in a lot of pain.
cv Champion Author Raleigh Posts:6,784 Points:1,607,140 Joined:Oct 2003	Message Posted: 5/15/2008 10:16:57 AM	Ignore cv Report Abuse
	I'm already in the pain threshold!
gasforus Champion Author Michigan Posts:1,578 Points:689,635 Joined:Dec 2005	Message Posted: 5/15/2008 10:16:44 AM	Ignore gasforus Report Abuse
	"near" the pain threshold????
tbybee Sophomore Author Omaha Posts:181 Points:83,925 Joined:Apr 2008	Message Posted: 5/15/2008 10:16:35 AM	Ignore tbybee Report Abuse
	Wow, another story stating the obvious.
Sixty4nhalf All-Star Author New Hampshire Posts:830 Points:188,355 Joined:Feb 2008	Message Posted: 5/15/2008 10:15:10 AM	Ignore Sixty4nhalf Report Abuse
	thank you sir can I have another!
BoerneWatch Champion Author San Antonio Posts:6,200 Points:794,535 Joined:Oct 2005	Message Posted: 5/15/2008 10:12:53 AM	Ignore BoerneWatch Report Abuse
	Remember that "Sales" fell .4 percent. That is a dollar amount. Gas went up a lot and dollar sales went down. That means something. That means that the maximum amount Americans are willing to pay for gas has been exceeded and that as gas goes up, we will consume fewer gallons and even spend fewer dollars overall.
SteelPenny Champion Author Dallas Posts:8,516 Points:1,037,100 Joined:Sep 2005	Message Posted: 5/15/2008 10:12:40 AM	Ignore SteelPenny Report Abuse
	The pain threshold was passed $3.50 ago back in 1973 when 'they' said there would be no more oil in about 10 or 20 years. They lied.
stvpete Rookie Author Minnesota Posts:75 Points:365,575 Joined:Sep 2006	Message Posted: 5/15/2008 10:12:04 AM	Ignore stvpete Report Abuse
	When they say "near", what the hell are they talking about? It was passed some time ago.
bicycler Champion Author Ontario Posts:5,993 Points:1,082,570 Joined:May 2005	Message Posted: 5/15/2008 10:11:57 AM	Ignore bicycler Report Abuse
	Dennis783; brogan56; eglev; The threshold passed for many, but what about the oilbarons?
cbpilot Sophomore Author Riverside Posts:174 Points:365,635 Joined:Dec 2006	Message Posted: 5/15/2008 10:08:18 AM	Ignore cbpilot Report Abuse
	Can I please have one of those 80 mpg carburetors the oil companies bought up years ago?
Dennis783 Champion Author Wisconsin Posts:5,423 Points:1,087,345 Joined:Sep 2005	Message Posted: 5/15/2008 10:07:09 AM	Ignore Dennis783 Report Abuse
	they've passed the pain threshold
phatride92 Champion Author Kansas Posts:3,568 Points:903,825 Joined:Oct 2005	Message Posted: 5/15/2008 10:05:32 AM	Ignore phatride92 Report Abuse
	Dugh
brogan56 Champion Author Colorado Springs Posts:9,488 Points:1,532,020 Joined:Mar 2004	Message Posted: 5/15/2008 10:04:04 AM	Ignore brogan56 Report Abuse
	Well, I started conserving by reducing my auto usage but the food prices and other consumer items are hurting just a bit.
eaglev All-Star Author Oklahoma City Posts:798 Points:296,545 Joined:Jul 2005	Message Posted: 5/15/2008 10:02:51 AM	Ignore eaglev Report Abuse
	Threshold passed when it hit $3.25, people have adjusted but the price still goes up. WE NEED TO DRILL NOW come on Congress get on the ball here!
Brockvillian Veteran Author Ontario Posts:437 Points:277,245 Joined:May 2007	Message Posted: 5/15/2008 10:01:32 AM	Ignore Brockvillian Report Abuse
	Maybe the oil companies should read these posts. Of course we are fed up with the fuel cost.
IrishCanadian Rookie Author Ontario Posts:9 Points:15,660 Joined:Mar 2008	Message Posted: 5/15/2008 9:58:28 AM	Ignore IrishCanadian Report Abuse
	People are taking a long time to adjust their lifestyles, so of course there is going to be some pain. In the grand scheme of things, people are way too focussed on gas prices. Do you think OPEC and the gas companies have won? Now you have people lining up for gas when it's at 1.20c/L, feeding the whole panic mentality. There's nothing I can do to change the price of gas, so I just try to use as little of it as possible, but otherwise just call it a sunk cost and move on.
spunky4443 All-Star Author Washington Posts:976 Points:421,255 Joined:May 2005	Message Posted: 5/15/2008 9:58:03 AM	Ignore spunky4443 Report Abuse
	BOO-HOO-HOO-HOO, don't you just feel so sorry for them?????
Lookiehere Champion Author Alabama Posts:2,988 Points:617,870 Joined:May 2005	Message Posted: 5/15/2008 9:56:09 AM	Ignore Lookiehere Report Abuse
	duh
Sealer Champion Author Charleston Posts:2,361 Points:264,505 Joined:Jan 2008	Message Posted: 5/15/2008 9:55:44 AM	Ignore Sealer Report Abuse
	More people are making changes in response to price, but people have been changing all along as prices have risen.
tobasco Champion Author Los Angeles Posts:2,956 Points:803,415 Joined:Mar 2004	Message Posted: 5/15/2008 9:55:34 AM	Ignore tobasco Report Abuse
	Near...about a year ago.