As we all know...gas prices are on the rise again unfortunately. So whats the current price where you live right now. This morning I looked and saw REGULAR was $2.63 at one gas station. R I D I C U L O U S !!!!
it's about $2.59 here...that crap is ridiculous...usually put about $20 in my tank and it's full...but it takes me about $25 to fill it up now...and it's just a damn Toyota Camry...weird how it was only like $2.09 two weeks ago and it just skyrocketed like that...
Today, I went to put more gas in my car, and I found out that the gas price rose $0.23 since this past weekend! I remember when I used to pay $5 to raise my meter to another notch; now it takes me $10 to do that. This is just crazy!
too damn much...2.70 in the nati for reg. I think I over heard somebody that it is suppose to be 5.00 by december and 3 by labor day. I am bout to start riding my damn bike.
too damn much...2.70 in the nati for reg. I think I over heard somebody that it is suppose to be 5.00 by december and 3 by labor day. I am bout to start riding my damn bike.
Aye I'm headed to UC next month, where's the hot spots in Cinci?
Iraq Enjoys Some of World's Cheapest Gas
By THOMAS WAGNER, AP
LONDON (Aug. 17) - Motorists struggling with high gas prices in the United States and Europe may be surprised to learn that consumers in Iraq pay as little as 5 cents a gallon, according to the International Monetary Fund's first assessment of the Iraqi economy in 25 years.
Thanks to generous government subsidies on petroleum products -- which the IMF criticized as a threat to the country's fragile economy -- Iraq has some of the cheapest gas in the world.
By contrast, Americans pay about $2.55 a gallon and Britons pay $6.24. Iraqis also pay much less for a gallon of regular gasoline than in nearby countries such as Iran (38 cents), Jordan ($1.89) and **** ($1.74).
Even the many Iraqis who pay higher, black-market prices at the pump often make money by smuggling gasoline into neighboring countries such as Turkey, according to the International Monetary Fund's 62-page report released Monday.
Iraq's government hasn't been able to fulfill its promise to the IMF to slash the massive subsidies, given how much the country already is suffering from escalating **** by insurgents, high unemployment and inflation, and poor electricity, water and sewage services.
Last month, the Yemeni government agreed to reverse its earlier decision to lift subsidies on **** products after a wave of riots and strikes swept Yemen's major cities.
In 2004, gasoline subsidies alone cost the Iraqi government $3 billion, the IMF said.
Therefore, the IMF said it was cutting its forecast for gross domestic product growth this year from 17 percent to 4 percent. In 2004, the Iraqi GDP was $25.5 billion. This year it is projected to reach $29.3 billion.
The IMF said **** production was likely to reach only 2 million barrels a day over the year, down from its earlier estimate of 2.4 million barrels "because of the continuing sabotage of **** installations and the resulting halting of **** exports from the north."
Before U.S.-led forces defeated Saddam Hussein, whose government also heavily subsidized gas prices for consumers, average annual **** production in Iraq was 2.5 million barrels per day.
The IMF said the government was likely to run short of money in the second half of this year because of lower **** exports and a shortfall in revenue largely caused by the subsidies.
Iraq's proven **** reserves, estimated at about 115 billion barrels, are the world's third largest. The potential development of the **** sector is considerable, given that a large portion of the country remains unexplored.
That's why **** analysts closely watch Iraq's **** production and export figures to see if they will affect the world's skyrocketing **** prices, now hovering at about $66 a barrel.
"Because of the tight situation of the **** market, any increase in Iraqi production will have a positive affect on the supply side," said Muhammad-Ali Zainy, a senior energy economist at the London-based Centre for Global Energy Studies.
Iraq's economy has benefited from today's **** prices. But widespread attacks by insurgents limit its **** exports. Also, the government doesn't have the money it needs to rehabilitate and upgrade an **** industry infrastructure that has fallen apart during two decades of wars, misuse by Saddam Hussein's government and international trade sanctions.
Zainy said few changes are expected in Iraq's current **** exports of about 1.6 million barrels a day, mostly through its southern ports, which have suffered far fewer insurgent attacks than the main pipeline to Turkey in the north.
"The problem is that the Iraqi economy is in a shambles and non-**** income is trivial, so the government is almost completely dependent on **** income and whatever the international community can contribute," Zainy said.
Issam al-Chalabi, who served as Iraq's **** minister in the late 1980s, agreed.
"It's doubtful the government will be able to do anything of significance regarding its **** market this year," al-Chalabi said in a telephone interview from Jordan, where he now works as an **** consultant.
He said the insurgent attacks mean none of the world's major **** companies are willing to invest in the country.
Al-Chalabi said these companies also don't want to sign significant contracts in a country that is currently drafting a new constitution that could affect the **** industry and that plans to elect a new national government later this year.
"BP and Shell are not planning to go into Iraq any time soon. Until you get a new elected government and much better security, forget it," al-Chalabi said.
