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NC gas prices up 13 cents last week; Oil tops $106 a barrel

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North Carolina (NEWS RELEASE) - Average retail gasoline prices in North Carolina have risen 13.2 cents per gallon in the past week, averaging $3.48/g yesterday. This compares with the national average that has increased 12.6 cents per gallon in the last week to $3.47/g, according to gasoline price website NorthCarolinaGasPrices.com.

Including the change in gas prices in North Carolina during the past week, prices yesterday were 77.7 cents per gallon higher than the same day one year ago and are 42.2 cents per gallon higher than a month ago. The national average has increased 36.0 cents per gallon during the last month and stands 73.6 cents per gallon higher than this day one year ago.

NEW YORK (CNNMoney) -- Oil prices rose to a fresh 2-1/2 year high early Monday, climbing above $106 a barrel, as the violence in Libya continues to unsettle the market.

The benchmark U.S. contract, West Texas Intermediate, for April delivery was up $2.26, or 2.1%, to $106.68 a barrel. Oil prices are currently trading at the highest levels since September 2008.

Oil prices rose nearly 7% last week as fighting between rebels and forces loyal to Libyan leader Moammar Gadhafi escalated. The weeks-long conflict showed no sign of abating Monday, with death toll estimates now ranging from more than 1,000 to as many as 2,000.

The International Energy Agency estimated Friday that roughly 1 million barrels per day of Libyan oil have been taken off the world market so far, even as some crude shipments have resumed. Libya exported 1.6 million barrels per day in 2010.

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Hi all yes need the go down

Hi all
yes need the go down in NC now
in Denver NC the gas is $3.43 now

The poor man getting poorer ...

I seem to recall when all this gas price situation started, how we were sooooo short on oil ... THEN the oil companies were bragging about record profits in the 100's of millions of dollars ... There is enough fuel for many, many years to come.

The oil companies found out that people would pay at the pump, going without medicine so they could have enough money to get to work, or for what ever reason ... and that would fatten up the OIL COMPANIES pockets. The poor man has NO chance of getting ahead, because the rich man is greedy and wants all he can get. The poor man works hard just to survive from paycheck to paycheck ...

Come on, there is NO reason for the increase other than to pay for some rich oil companies vacations, new cars or bonus.

Forget promise, don't say you're gonna do something ... DO IT!!!

We as Americans need to stand up and work TOGETHER, and fix this.
Complaining is not going to get us nowhere except mad, or in the hospital with health issues from worry or frustrations.

Let's go over this again

The oil companies to not set the price of oil any more than a farmer sets the price of corn.

Oil is a traded commodity, just like gold, corn, pork bellies, or coffee.

Any individual or entity can bid on a contract for delivery. Valero does it to have product to refine. Others do it to sell the contract and make a profit.

On banner years, when corn is high, farmers who grow the corn are rolling in the dough. It's exactly the same with oil. When oil prices are up, those who pump the oil are rolling in the dough.

Your anger toward oil companies is entirely misplaced.

Blaming the presidents is pointless

Please note that I said "presidents" - plural.

The global oil market is so big the no president, regardless of party, can do any more than nudge prices over the mid to long term.

As long as there is no shortage of people willing to pay $105 for a barrel of oil, the price will be $105.

And since 69% of the cost of producing a gallon of gasoline is the oil that's in it, you can well expect the price of gasoline to follow suit.

Welcome to reality and Economics 101.

Fuel Prices

Check out this website from US Geological Society:
www.usgs.gov/newsroom/article.asp?ID=1911
There is NO reason our fuel prices have to be this high! In 2005 then-Pres. Bush mandated extraction of oil from reserves found in the Rocky Mtns. Has that occurred? NO. We've dealt with ridiculous prices for years. Environmental groups have blocked all efforts to help America become independent of foreign oil. Are OPEC countries funding these environmental groups to prevent the US from using the oil we have? Seems possible. There is enough in one well in the northern mid west to provide fuel for the current US demand for 2,041 YEARS... AND The oil people in the US are happy to have some extra $$ from these outlandish prices, they aren't going to try to change anything. The PEOPLE of the US are going to have to make another stand and DEMAND that drilling begin immediately. We MUST break free from the grasp of OPEC.

Oil

There's enough oil in one well to last 2041 years and I heard Santa say he's gonna come twice a year.

Get Real

Let's get real here. Consumers didn't learn their lesson from the 1980's long gas lines and continued to buy bigger gas guzzling autos. My current vehicle is a Ford Focus, which is a smaller car but GREAT on gas. It's 8 years old (bought new) and runs great...no repair except for a new battery last year and routine oil changes. Let's learn from this situation and do our part too...quit buying gas guzzlers!

As long as I can afford the gasoline....

...I'll drive any vehicle of MY choosing that I can also afford.

Choice - that's one of the nicest thing about freedom.

We must.....

We MUST all 1) boycott gasoline sales on one specific day and 2) Put pressure on Perdue and the fool calling himself our president. By the way, did anyone see that Perdue vetoed the push to get the healthcare joke overturned in NC? She needs to go!!!!!!!l

A one day boycott

will be laughable. Now, boycott EXXON & Shell until they drop gasoline to $2.00 a gallon; that will get results. When they drop their price, then all of the other retail outlets, including COSTCO & Sam's Club will follow suit.

Targeted boycotting would be just as pointless

Tom, I made a lot of my money in oil, and I did it by learning the oil market inside and out.

Do you realize how LITTLE ExxonMobil or Shell make from retail gasoline sales? Gasoline sales contribute less that ten-percent (usually less than eight percent) to their bottom line every year.

The money is made on the OIL. It costs ExxonMobil about $6 to get a barrel of oil out of the ground, and they can then sell that barrel of oil (even to their own refineries) for $105. THAT is where the money is - the E&P side.

The R&M side dossn't make a ton of money, and most of its revenue comes from petro-chemical sales.

Given a choice, ExxonMobil would love to sell off the R&M side (they already sold the retail "M" portion - every Exxon or Mobil station is independently owned) and like Apache, concentrate on the E&P side only. This is especially true since they bought out XTO and are positioning themselves to become the premier natural gas supplier in the country.

So if you don't want to buy Exxon-Mobil or Shell, fine. There is a nice Chinese gentleman, or an Indian gentleman, or a French, German, or Italian gentleman who will gladly fork over $105 for that next barrel and ExxonMobil or Shell won't even have to bother refining it.

They already made their money.

Won't Help

I don't think boycotting on one particular day will help. However, I do suggest never again purchasing from Exxon and Shell which I believe are based in the Middle East. Boycotting those companies in particular would have a huge impact if we could get everyone to participate.

Based in the Middle East?

Shell is based in the Netherlands and Exxon Mobil is based in Texas. Where do you folks come up with these ideas?

That said, you would be hard pressed to find any major oil company that does not deal with Middle Eastern oil in one way or another. The fact that domestic oil and foreign oil are banked for both refining and refined distribution muddies the water even more.

Regardless of what brand you filled up with, you may be running on oil from Kuwait, Louisiana, North Dakota, Canada, Venezuela, and Saudi Arabia on any given tank.

The only presidential "fool"

The only presidential "fool" that had anything to do with oil prices was that idiot Bush. In my opinion, he started the war in the oil producing countries with the intention of doing just what we see has happened. I am not an Obama fan, but he did inherit a mess. It will take a long time to fix if it is ever fixed. As for health care, we need an overhaul. The insurance companies have had their way too long, rejecting those with pre-existing conditions, putting lifetime caps on coverage, in short, collecting premiums and paying as little as possible out, even on legitimate claims. Obama only wants to make them more accountable to their policy holders. 80% of all monies collected in premiums must go toward health care, removing the cap, and making it possible for everyone, regardless of their health to get insurance. What is wrong with that? The insurance industry has done a fantastic job of brainwashing the American public.

Sad

Sad that you believe the hype Guest 4396. Just one of many that believe in no personal responsibility. No wonder the US is in this shape.

Anyone want to bet who...

Guest 4396 voted for during the last presidential election?

The initial "fool" callout was correct!

I remember hearing over and over again in Obama's campaign speeches. It was one of the pinnacles of his promises. It goes like this:

"I promise to get the United States of America FREE from it's dependence on foreign oil!!! We cannot allow our economy to be mandated by foreign oil"

So...what about THAT promise? Along with all of the others

He hasn't made the first baby-step. As a matter of fact he has migrated backwards with drilling moratoriums. There has been ZEEERO efforts to construct and operate new refineries. There has been ZEEERO efforts to convert over to LPG which is in a glut.

Why is it that our shipments of corn, wheat, barley, rice and other essential, non-sand growing food sell for $150.00 per bushel when shipped to the Arab countries?

I think we could make a deal! Why don't we?

The fact is we don't really need their oil if we would simply get to work, but they DO need our food...get it?

Have you ever wondered why...

the same parameters aren't applied towards those who want to purchase auto insurance? It's called risk management. Would you, as the insurance company, want to be forced to insure a person who'd driving record includes multiple at-fault accidents and DWI's?

Until the cost of healthcare goes down, insurance premiums won't. Why individuals feel their health insurance should cover everything is something I don't understand. Your car insurance doesn't pay for oil changes and tire rotations.

Over-utilization of health insurance helps to drive the cost of health care. Paying for your own doctor visits would help to lower the cost of health insurance.

I personally pay for my own health insurance...a high-deductible policy with a HSA...and I'm not in the health insurance industry.

Far too many people use the term "health care" when they really are talking about health insurance. There is no shortage or lack of access to health care in this area. Merely stop in at the ER at either hospital, and they have to treat you. Whether you pay the bill or not is up to you.

There is a risk pool in NC

There is a risk pool in NC to make sure bad drivers can get insurance. Everyone can buy liability insurance regardless of their driving record, so why shouldn't people with pre-existing conditions?

And the premiums they pay...

in the risk pool are significantly higher than those who exhibit a lesser risk. Good luck to those in this pool buying a new car that requires full coverage.

Until the cost of health care goes down, as I've said before, the cost of insurance won't go down. Forcing an insurance company to take one and all, regardless of the risk they present, will only cause premiums to go up. One major medical claim will consume multiple times the premium an individual will ever pay in premiums.

File too many claims on your homeowner's insurance, and they'll drop you in a heartbeat.

This is true to an extent.

This is true to an extent. One big claim will be easily offset by others paying premiums with no claims at all.

Taxpayer

With a name like taxpayer you should know who pays for the visits to the ER when someone don't pay their bill.

I do know who pays...

you, me, and the rest of taxpayers.