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Fiscal cliff' optimism may boost gasoline prices

Newsday -- Gasoline increased by a penny a gallon on Long Island in the past week, and might rise further following an increase in crude oil prices on optimism that the "fiscal cliff" has been averted.

Andy Lipow, president of Houston consulting company Lipow Oil Associates Llc, said traders are betting on improved consumer sentiment from the deal, which spares most Americans from sharp income tax hikes that would otherwise have occurred.

But Lipow and Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Conn., expect the rise in gas prices will be limited. They cite an increase in Social Security payroll taxes that the cliff deal allows, amounting to about $1,000 for a family earning $50,000 a year. Other factors limiting a price rise include seasonally weak January gasoline dema

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Submitted Jan 04, 2013 By: bar1035

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honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Jan 8, 2013 6:00:25 AM Ignore honda0105 Report Abuse mandoid: already up and national average is rising.
mandoid Champion Author Colorado Springs Posts:7,311 Points:1,529,000 Joined:May 2008	Message Posted: Jan 7, 2013 6:35:45 AM Ignore mandoid Report Abuse it will go up up at the pump, just a matter of when and how much
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Jan 7, 2013 5:56:49 AM Ignore honda0105 Report Abuse prices have been going up around here for a while...
gs7101 Champion Author San Antonio Posts:5,533 Points:389,120 Joined:Jun 2009	Message Posted: Jan 5, 2013 7:31:31 AM Ignore gs7101 Report Abuse Increasing gas prices isn't good news!
scu227 Champion Author New Haven Posts:4,162 Points:773,830 Joined:Feb 2011	Message Posted: Jan 5, 2013 2:25:52 AM Ignore scu227 Report Abuse SPECULATORS AT WORK !!!!!!!!!!!!
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: Jan 5, 2013 12:36:35 AM Ignore crreed1 Report Abuse every thing rices gas prices
diesel8888 Champion Author Salt Lake City Posts:1,202 Points:361,335 Joined:Nov 2011	Message Posted: Jan 5, 2013 12:34:22 AM Ignore diesel8888 Report Abuse Any news coming out of the white house is depressing!
KrsnaDragon Champion Author Montreal Posts:2,417 Points:533,250 Joined:Nov 2011	Message Posted: Jan 5, 2013 12:29:56 AM Ignore KrsnaDragon Report Abuse Prices are on the rise everywhere. Here in Montréal, at a gas station close to my work, the retail price of a litre of regular 87-octane gasoline went from $1.234/L on Friday morning to $1.384/L Friday evening. Given that a US Gallon is equal to about 3.785 litres, that price is about $5.238/US Gallon, up from about $4.671. Within a day that is an increase equal to about $0.57/US Gallon.
CDMAuto Champion Author Connecticut Posts:3,798 Points:755,640 Joined:Apr 2011	Message Posted: Jan 5, 2013 12:16:16 AM Ignore CDMAuto Report Abuse Every thing is up INCLUDING EVERYONE'S TAXES.... Another broken promise by OBAMA.... NO Tax Increase for the middle class or poor....Thats what he said......
Delight777 Sophomore Author Cleveland Posts:228 Points:359,370 Joined:Oct 2011	Message Posted: Jan 5, 2013 12:16:05 AM Ignore Delight777 Report Abuse Not good.
Dragnet Champion Author Arizona Posts:15,417 Points:2,910,710 Joined:Jul 2004	Message Posted: Jan 5, 2013 12:11:47 AM Ignore Dragnet Report Abuse Any excuse to raise prices. This has nothing to do with gas prices. But isn't it something how politics always plays into raising prices instead of lowering. These gas companies are nothing but a major joke.
unicornpmb Champion Author Buffalo Posts:8,501 Points:1,631,465 Joined:Sep 2005	Message Posted: Jan 5, 2013 12:11:19 AM Ignore unicornpmb Report Abuse Time to bend over.
Rooster922 Champion Author Wilmington Posts:3,798 Points:658,020 Joined:Jan 2009	Message Posted: Jan 5, 2013 12:10:08 AM Ignore Rooster922 Report Abuse Wow again.
GasholeMI Champion Author Lansing Posts:10,149 Points:1,720,240 Joined:Jul 2008	Message Posted: Jan 5, 2013 12:09:27 AM Ignore GasholeMI Report Abuse Higher gas prices will help keep a lid on our fragile economy. We really need gas prices back in the lower $2's.
rahcat Champion Author Grand Rapids Posts:2,478 Points:664,900 Joined:Jan 2010	Message Posted: Jan 5, 2013 12:08:58 AM Ignore rahcat Report Abuse Fiscal cliff optimism????????
Jmac2008 Champion Author Missouri Posts:2,284 Points:883,090 Joined:Dec 2008	Message Posted: Jan 5, 2013 12:08:36 AM Ignore Jmac2008 Report Abuse and it should be going down not up at this time of year.
obimerrill Champion Author Cincinnati Posts:1,450 Points:291,665 Joined:Jul 2012	Message Posted: Jan 5, 2013 12:08:09 AM Ignore obimerrill Report Abuse Prices are up for now...hope they go down since our taxes still went up.
Bezalel Champion Author Oklahoma City Posts:12,108 Points:2,292,720 Joined:Oct 2006	Message Posted: Jan 5, 2013 12:08:09 AM Ignore Bezalel Report Abuse Eventually they will go up. Remember, crude was about $10/bbl a few years ago.
naspa Champion Author Cleveland Posts:1,281 Points:354,100 Joined:Jan 2012	Message Posted: Jan 5, 2013 12:07:01 AM Ignore naspa Report Abuse It may, but reality differs.
Bigwaynef Champion Author South Carolina Posts:11,487 Points:2,082,710 Joined:Dec 2006	Message Posted: Jan 5, 2013 12:06:59 AM Ignore Bigwaynef Report Abuse Ha, I already know it's because of which way the winds blowing as to when they raise prices...
BobD2009 Champion Author Long Island Posts:6,999 Points:1,241,735 Joined:Apr 2009	Message Posted: Jan 5, 2013 12:06:44 AM Ignore BobD2009 Report Abuse They already have.
KnoxGasPriceSpy Champion Author Knoxville Posts:140,879 Points:921,770 Joined:Oct 2010	Message Posted: Jan 5, 2013 12:05:49 AM Ignore KnoxGasPriceSpy Report Abuse they already did...
pa79th Champion Author Pennsylvania Posts:1,792 Points:1,218,800 Joined:Jun 2007	Message Posted: Jan 5, 2013 12:05:23 AM Ignore pa79th Report Abuse nahhh
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,071,675 Joined:Mar 2004	Message Posted: Jan 5, 2013 12:04:43 AM Ignore miser709 Report Abuse What a crock of _ _ _ _.
rsox67 All-Star Author Connecticut Posts:707 Points:268,110 Joined:Jul 2012	Message Posted: Jan 5, 2013 12:03:34 AM Ignore rsox67 Report Abuse Ok
joel27nc Champion Author Raleigh Posts:10,547 Points:1,860,320 Joined:Mar 2008	Message Posted: Jan 5, 2013 12:02:48 AM Ignore joel27nc Report Abuse That's why prices are going up, really?
sickhp Champion Author San Antonio Posts:1,384 Points:518,855 Joined:Sep 2011	Message Posted: Jan 5, 2013 12:02:24 AM Ignore sickhp Report Abuse Drill baby drill in all of America.
cheaper0ON All-Star Author Ontario Posts:993 Points:400,005 Joined:Jan 2012	Message Posted: Jan 5, 2013 12:01:59 AM Ignore cheaper0ON Report Abuse BaD.
LostAgain2009 Champion Author New Mexico Posts:2,398 Points:711,685 Joined:Apr 2009	Message Posted: Jan 4, 2013 11:59:06 PM Ignore LostAgain2009 Report Abuse Oil is traded as a commodity and, therefore, it's price will follow the economy. We don't like it but why and how does it surprise anyone?!?
sydb7 Champion Author Atlanta Posts:3,561 Points:1,920,735 Joined:Mar 2003	Message Posted: Jan 4, 2013 11:58:31 PM Ignore sydb7 Report Abuse Bad!
Trowinsamoan Champion Author Los Angeles Posts:1,168 Points:188,790 Joined:Nov 2012	Message Posted: Jan 4, 2013 11:57:16 PM Ignore Trowinsamoan Report Abuse Prices are going up no matter what happens
snakebitef22 Veteran Author Corpus Christi Posts:447 Points:31,520 Joined:Mar 2009	Message Posted: Jan 4, 2013 11:55:34 PM Ignore snakebitef22 Report Abuse They are suckering the morons to buy crude and then they are going to drop the bucket and lower prices will follow..
RIG89 Rookie Author Houston Posts:72 Points:95,660 Joined:Dec 2012	Message Posted: Jan 4, 2013 11:55:25 PM Ignore RIG89 Report Abuse oil companies smell money and raise prices gas up here in Houston
benjy Champion Author Chicago Posts:8,601 Points:1,790,350 Joined:Nov 2003	Message Posted: Jan 4, 2013 11:54:07 PM Ignore benjy Report Abuse not here...
VanIsleLes All-Star Author British Columbia Posts:898 Points:277,745 Joined:Jun 2012	Message Posted: Jan 4, 2013 11:53:34 PM Ignore VanIsleLes Report Abuse Not good
mrsports007 Champion Author Raleigh Posts:9,550 Points:1,615,315 Joined:Jun 2008	Message Posted: Jan 4, 2013 11:52:19 PM Ignore mrsports007 Report Abuse it was about 20 cents here.
movietracker All-Star Author Pennsylvania Posts:695 Points:162,390 Joined:Mar 2011	Message Posted: Jan 4, 2013 11:48:35 PM Ignore movietracker Report Abuse May boost? Gas prices rose .15 cents overnight!
yeehaw1073 Champion Author Indiana Posts:2,366 Points:1,851,400 Joined:May 2004	Message Posted: Jan 4, 2013 11:42:27 PM Ignore yeehaw1073 Report Abuse we didn't avoid the cliff, we're just taking the long way around
pgerassi Champion Author Milwaukee Posts:10,906 Points:2,133,555 Joined:Apr 2007	Message Posted: Jan 4, 2013 11:41:28 PM Ignore pgerassi Report Abuse Recession looms.
KhelbenArunson Champion Author Michigan Posts:4,456 Points:719,815 Joined:Apr 2008	Message Posted: Jan 4, 2013 11:41:23 PM Ignore KhelbenArunson Report Abuse This sounds like fluff and spin paid for big oil.
malfrog1 Champion Author South Bend Posts:2,211 Points:551,935 Joined:Feb 2011	Message Posted: Jan 4, 2013 11:40:38 PM Ignore malfrog1 Report Abuse Prices are going up anyway.
WIPACKERFAN Champion Author Chicago Posts:8,814 Points:1,845,400 Joined:Aug 2005	Message Posted: Jan 4, 2013 11:39:19 PM Ignore WIPACKERFAN Report Abuse Any reason to raise prices.
erndog0331 All-Star Author Tucson Posts:626 Points:185,660 Joined:Oct 2012	Message Posted: Jan 4, 2013 11:35:55 PM Ignore erndog0331 Report Abuse Of course
BoerneWatch Champion Author San Antonio Posts:15,551 Points:2,455,890 Joined:Oct 2005	Message Posted: Jan 4, 2013 11:35:41 PM Ignore BoerneWatch Report Abuse Now why would that happen? The numbers of unemployed keep coming out and the highest numbers are the group that re-elected their president. Seems like the 47% can't afford gas but the price is going up.
tco9436 Champion Author Connecticut Posts:1,782 Points:724,225 Joined:Mar 2010	Message Posted: Jan 4, 2013 11:35:28 PM Ignore tco9436 Report Abuse fn joke
drz614 Champion Author Harrisburg Posts:2,309 Points:599,570 Joined:Aug 2011	Message Posted: Jan 4, 2013 11:35:10 PM Ignore drz614 Report Abuse fiscal cliff adverted? really?
jrsva Champion Author Virginia Posts:9,863 Points:1,614,950 Joined:Jan 2006	Message Posted: Jan 4, 2013 11:34:49 PM Ignore jrsva Report Abuse “I got paid, and saw 4% of my check go to the government.” If that is true, someone made a big mistake. FICA and Medicare deduct 7.65% and then there are state and federal income taxes. No one gets away with paying just 4% to the gov.
04Ram59HO Rookie Author Detroit Posts:15 Points:9,780 Joined:Nov 2012	Message Posted: Jan 4, 2013 11:30:47 PM Ignore 04Ram59HO Report Abuse What a racket! The typical last minute deal from Washington and that's supposed to improve consumer sentiment. What are they smoking?!?
suzmar Champion Author Texas Posts:2,213 Points:873,785 Joined:Jun 2006	Message Posted: Jan 4, 2013 11:29:17 PM Ignore suzmar Report Abuse Prices were going up before the fiscal cliff was temporarily averted.
wulf2000 Champion Author Miami Posts:3,037 Points:1,391,030 Joined:May 2005	Message Posted: Jan 4, 2013 11:25:24 PM Ignore wulf2000 Report Abuse All around is always bad news.