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Feds send oil, gas prices higher via QE3

GasBuddy Blog -- Just when we were all hoping for some relief at the gas station this autumn, the Federal Reserve announced its third round of quantitative easing, weakening the dollar and sending oil prices higher- gasoline is sure to follow.

The program, dubbed QE3, works like this: the U.S. central bank implements quantitative easing by buying financial assets from commercial banks and other private institutions with newly created money. In turn, this sends the value of the U.S. dollar lower, the global currency of crude oil, thus making oil more expensive to buyers holding American Dollars.

We're seeing oil prices tinker on triple digits as a result, and it may not get a whole lot better. Since QE3 is expected to keep the dollar weak...

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Submitted Sep 14, 2012 By: PD

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Donatelo Champion Author Dayton Posts:1,168 Points:307,705 Joined:Apr 2011	Message Posted: Oct 8, 2012 2:35:14 PM Ignore Donatelo Report Abuse so much info everyday saying gas prices are going to go up or down, it is a guessing game.
99dakota Champion Author Providence Posts:8,255 Points:2,200,100 Joined:Oct 2006	Message Posted: Oct 1, 2012 6:38:32 AM Ignore 99dakota Report Abuse Another reason to make a change in November...
honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Sep 29, 2012 11:15:14 AM Ignore honda0105 Report Abuse pricewar: please explain.
pricewar Champion Author Ogden Posts:2,075 Points:302,490 Joined:Jul 2012	Message Posted: Sep 26, 2012 12:28:54 AM Ignore pricewar Report Abuse great money scheme for the feds. since there is nowhere else to line their pockets. steady income for them. keeps them out of the unemployment line.
CapriceWagon Champion Author Washington Posts:1,009 Points:503,620 Joined:Feb 2008	Message Posted: Sep 25, 2012 11:35:24 AM Ignore CapriceWagon Report Abuse We need to end the fed and implement the penny plan
DucatiRider Rookie Author Maryland Posts:70 Points:1,200 Joined:Sep 2012	Message Posted: Sep 25, 2012 10:55:22 AM Ignore DucatiRider Report Abuse Here lemmie print some money, so we can buy our own debt. That's good for the dollar, right? END THE FED!
vulcan96 Champion Author Ohio Posts:27,145 Points:3,126,955 Joined:Aug 2004	Message Posted: Sep 25, 2012 2:56:22 AM Ignore vulcan96 Report Abuse repeat
Gas4Gore Champion Author Detroit Posts:2,524 Points:444,225 Joined:Jan 2010	Message Posted: Sep 24, 2012 11:39:43 PM Ignore Gas4Gore Report Abuse Boo O
WE0H Champion Author Twin Cities Posts:1,562 Points:489,725 Joined:Feb 2011	Message Posted: Sep 22, 2012 11:14:32 PM Ignore WE0H Report Abuse Nothing spectacular about this news. High fuel prices, weak economy. Never mind the US is exporting fuel to keep the pump prices high.
gasokie Champion Author Oklahoma Posts:3,487 Points:1,346,755 Joined:May 2007	Message Posted: Sep 20, 2012 10:47:16 PM Ignore gasokie Report Abuse The price of gas as affected by the Feds printing more dollars is just one little symptom of this sickness. Governments have often tried to print their way to prosperity. Won't work and most people really don't understand why.
pricewar Champion Author Ogden Posts:2,075 Points:302,490 Joined:Jul 2012	Message Posted: Sep 20, 2012 10:28:02 PM Ignore pricewar Report Abuse Our country has a 17trillion plus deficit and climbing. The russians and chinese will not loan us any more money. the federal reserve is making up the difference by printing more and pumping the dollars into our economy, which in turns weakens our hard earned dollars, to get back on track you will later notice interest rates, income taxes, sales taxes etc. on down the line will take a substantial increase of our money, plus the havoc increase of inflation on top of it all! so to speak of your business trip write-offs, or just plain write-offs you usually get will be little in return or nothing (taken away) Remember...Obama says we need to roll up our sleeves and sacrifice. Also, that fuel efficient vehicle you plan to buy, you can figure a good decade to pay for itself, by then it will be time to buy a new vehicle. a polite way of describing this picture... imagine a mouse in one of those squirrel cages running in place going nowhere chasing that carrot.and you say to yourself how dumb can it be. and later you take a closer look and even a closer look and you say, hey thats not a mouse, that is me. There is more to the story my friend. now have a good dat
honda0105 Champion Author Tallahassee Posts:18,828 Points:1,637,220 Joined:Nov 2008	Message Posted: Sep 18, 2012 12:00:51 AM Ignore honda0105 Report Abuse JG: good for you, but not everyone (esp. in the US is able to do this).
JGetson Rookie Author PEI Posts:1 Points:120 Joined:Sep 2012	Message Posted: Sep 17, 2012 1:01:52 PM Ignore JGetson Report Abuse What I am doing to save money at the pumps is actually just a side-effect of the actions that I am taking to counter the overall effects of the current and coming economic climate - things like; price hikes for items including gas, electricity, food. The changing trends in employment; part-time vs full-time, job cuts and layoffs, as well as changes to social programs like EI, pensions, healthcare, etc. Including: - Purchased a 2nd home (in the city) as it is closer to my spouse's employment - reducing our overall transportation costs - gas, maintainance, etc. (May eventually either sell or rent the other house - after planned renovations/upgrades are completed) - Started my own home-based business, which not only allows me to write-off costs of running our household, ie; electricity, phone, internet, etc. (Will also allow me to qualify to claim tax credits that I will have to pay). - Purchased a new, more fuel-efficient 2nd vehicle for everyday personal transportation. (Will be dedicating the older vehicle for mostly business purposes). - As a business owner, join the local business organizations like the chamber of commerce (My local COC offers members a 3-cent/litre discount at the pump). - Combine personal trips with business purposes whenever possible to maximize the deductability of travel costs. (Trips do not have to be exclusively business to qualify - just need to look for, or discuss business - vacations are more fun when someone else is paying for them) - Buy other items in bulk and/or at wholesale whenever possible. (This is just a smart move to reduce our overall expenses) - Pay it forward by teaching family and friends the exact tactics and strategies to take back ownership of their own lives. (Things that will allow them to weather downturns in the economy, pay less, save more, and secure a financial future)
alphanyr Champion Author Connecticut Posts:5,110 Points:703,450 Joined:Apr 2011	Message Posted: Sep 17, 2012 11:14:46 AM Ignore alphanyr Report Abuse yes...enough is enough
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 17, 2012 2:45:02 AM Ignore MadTraveler Report Abuse Go obama
Gas4Gore Champion Author Detroit Posts:2,524 Points:444,225 Joined:Jan 2010	Message Posted: Sep 16, 2012 10:06:26 PM Ignore Gas4Gore Report Abuse Thanks a lot government.
margeret9021 Rookie Author Virginia Beach Posts:53 Points:17,185 Joined:Sep 2012	Message Posted: Sep 16, 2012 9:18:24 PM Ignore margeret9021 Report Abuse yes
tomok Champion Author Portland Posts:33,595 Points:2,373,210 Joined:Aug 2006	Message Posted: Sep 16, 2012 6:01:10 PM Ignore tomok Report Abuse Create more imaginary dollars, drive the price of oil up and higher prices at the pump are the results. Higher prices at the pump makes those EV's and Inbreds look much better don't they! Thanks a lot Chuck, you can apply for unemployment in January! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, has a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
gravityhurts Champion Author North Carolina Posts:4,234 Points:965,205 Joined:Sep 2008	Message Posted: Sep 16, 2012 5:42:35 PM Ignore gravityhurts Report Abuse Thanks a lot butt-hole!
dockersbin Veteran Author Virginia Beach Posts:407 Points:279,135 Joined:May 2006	Message Posted: Sep 16, 2012 5:01:49 PM Ignore dockersbin Report Abuse we can only hope something changes for the better soon
hank1326 Champion Author Los Angeles Posts:9,045 Points:1,761,020 Joined:Jun 2008	Message Posted: Sep 16, 2012 4:23:44 PM Ignore hank1326 Report Abuse Ditto to fieldt. Enough from this no substance all spins administration. Time for real changes in November.
Digger52 Champion Author Chicago Posts:2,541 Points:875,640 Joined:Aug 2008	Message Posted: Sep 16, 2012 3:39:45 PM Ignore Digger52 Report Abuse $5/gal regular before the end of the year
barbs24 Champion Author Virginia Beach Posts:3,277 Points:2,068,230 Joined:Feb 2006	Message Posted: Sep 16, 2012 3:15:06 PM Ignore barbs24 Report Abuse What happened to prices going down after Labor Day??
nigelb Champion Author Virginia Posts:8,592 Points:1,417,505 Joined:Feb 2008	Message Posted: Sep 16, 2012 3:14:34 PM Ignore nigelb Report Abuse Old news.
Rancher23 Champion Author Cincinnati Posts:3,333 Points:687,045 Joined:May 2011	Message Posted: Sep 16, 2012 3:11:23 PM Ignore Rancher23 Report Abuse Whatever!!!!!
kacansas All-Star Author Twin Cities Posts:788 Points:237,445 Joined:Aug 2005	Message Posted: Sep 16, 2012 3:09:39 PM Ignore kacansas Report Abuse I do HATE some of these "bright ideas" that the government comes up with to "help" us common citizens! This policy got it's big start during the recent Bush presidency and did it stop during Obama? No, and why not? Because one executive who has to get squabbling Democrats and Republicans on his side to really change things(not any time soon) can not just order things to be done his way. Buch tried that and is still skating on a thin line of possible international war crimes indictments. Did you know that there is a standing warrant for Bush's arrest in Switzerland created when the Europeans heard he was going to visit? There is one great man! I do believe he is the only president of the U.S. to ever have that kind of foreign attention.
kassie1203 Champion Author California Posts:1,518 Points:279,950 Joined:Sep 2012	Message Posted: Sep 16, 2012 3:08:44 PM Ignore kassie1203 Report Abuse k
theWizK All-Star Author Columbus Posts:876 Points:412,480 Joined:May 2007	Message Posted: Sep 16, 2012 3:07:49 PM Ignore theWizK Report Abuse Fscking idiots.... Leave my money alone!
wshutton Champion Author Los Angeles Posts:1,810 Points:951,875 Joined:Mar 2009	Message Posted: Sep 16, 2012 3:06:13 PM Ignore wshutton Report Abuse Thanks to the Big Government Federal Reserve. Nissan Corporation announced they are bringing more vehicle production to the US. More American jobs thanks in part to the cheaper dollar. This helps our exporting too as our products are more competitive.
caddilac Champion Author Ontario Posts:16,754 Points:2,166,655 Joined:Apr 2007	Message Posted: Sep 16, 2012 3:04:08 PM Ignore caddilac Report Abuse Yesterday's news.
ItisAJeepThing Champion Author Tucson Posts:20,030 Points:2,179,280 Joined:Oct 2006	Message Posted: Sep 16, 2012 2:59:43 PM Ignore ItisAJeepThing Report Abuse The Federal Reserve actually caused the American Dollar to loose a little value. Therefore all commodities and anything imported will be a little more expensive. American homes will be easier to buy and loans will be easier to get. It doesn't help me, I own my home and don't run up credit card debit. I just have to pay more for gasoline from Big Oil. If we elect Mitt Romney it will get worse and happen soon.
fieldt Champion Author Lansing Posts:4,055 Points:755,800 Joined:Mar 2011	Message Posted: Sep 16, 2012 2:59:24 PM Ignore fieldt Report Abuse QE3 = out of ideas or no courage to implement the tough choices.
fenster66 Champion Author Pittsburgh Posts:3,485 Points:700,815 Joined:May 2011	Message Posted: Sep 16, 2012 2:58:41 PM Ignore fenster66 Report Abuse lets hope it works....
hammer219115 Veteran Author Pennsylvania Posts:411 Points:22,950 Joined:Aug 2006	Message Posted: Sep 16, 2012 2:57:01 PM Ignore hammer219115 Report Abuse You gotta laugh to keep from crying.
svspyda Champion Author San Jose Posts:1,748 Points:354,985 Joined:May 2012	Message Posted: Sep 16, 2012 2:53:07 PM Ignore svspyda Report Abuse ok
TAT36 Champion Author Florida Posts:6,944 Points:1,329,225 Joined:Sep 2009	Message Posted: Sep 16, 2012 2:53:06 PM Ignore TAT36 Report Abuse QE3 more money for less merchandise or services.
rjd1608 Champion Author Toledo Posts:5,501 Points:1,957,705 Joined:Aug 2003	Message Posted: Sep 16, 2012 2:49:56 PM Ignore rjd1608 Report Abuse ok
Skyelydoo Sophomore Author Pennsylvania Posts:244 Points:133,365 Joined:Feb 2006	Message Posted: Sep 16, 2012 2:46:10 PM Ignore Skyelydoo Report Abuse They legislate so much worthless stuff, why can't they do something about the price of fuel?
stopforgas All-Star Author Mississippi Posts:998 Points:495,745 Joined:Jun 2011	Message Posted: Sep 16, 2012 2:44:34 PM Ignore stopforgas Report Abuse Need to update the news
Hugo40 Champion Author Kentucky Posts:7,764 Points:1,644,705 Joined:Aug 2008	Message Posted: Sep 16, 2012 2:43:57 PM Ignore Hugo40 Report Abuse More old news.
TNT2EC Champion Author Wisconsin Posts:5,113 Points:1,537,365 Joined:Oct 2008	Message Posted: Sep 16, 2012 2:36:34 PM Ignore TNT2EC Report Abuse Greedy Speculators....
suzyq2007 Champion Author Dallas Posts:7,296 Points:1,675,700 Joined:Oct 2007	Message Posted: Sep 16, 2012 2:33:41 PM Ignore suzyq2007 Report Abuse this was one of the most ridiculous things they have done in Washington recently. get rid of all of the liberals up there--just clean house
kosciak Champion Author Hartford Posts:1,106 Points:555,275 Joined:Aug 2011	Message Posted: Sep 16, 2012 2:30:25 PM Ignore kosciak Report Abuse old news
BigHorne1 Champion Author Missouri Posts:1,638 Points:324,475 Joined:Jul 2012	Message Posted: Sep 16, 2012 2:30:24 PM Ignore BigHorne1 Report Abuse This is going to blow up the price per gallon by at least ten cents a gallon by end of october, this is inflation that Big Ben hasn't considered in his QE3
braves89 Champion Author Chicago Posts:7,788 Points:1,658,185 Joined:Apr 2008	Message Posted: Sep 16, 2012 2:30:08 PM Ignore braves89 Report Abuse day 2 for this story
Bonanza Champion Author Boston Posts:12,254 Points:2,578,705 Joined:Jun 2004	Message Posted: Sep 16, 2012 2:29:51 PM Ignore Bonanza Report Abuse Old news
preacherjohn Champion Author Modesto Posts:4,096 Points:1,943,310 Joined:May 2006	Message Posted: Sep 16, 2012 2:27:57 PM Ignore preacherjohn Report Abuse Oh Brother, just cause I'm on vacation.
Mariuxus Champion Author Chicago Posts:3,892 Points:1,898,505 Joined:May 2007	Message Posted: Sep 16, 2012 2:27:17 PM Ignore Mariuxus Report Abuse Wow..old ...next...
jtravis711 Sophomore Author Orange County Posts:174 Points:214,315 Joined:Feb 2011	Message Posted: Sep 16, 2012 2:25:14 PM Ignore jtravis711 Report Abuse This blog might be getting long in the tooth, but this issue is far from over. We need a system that works on all cylinders...A president that leads and works with both sides of congress, a congress that works for the people and with an administration and a fed that works independently yet with the cooperation of the president and congress.
craigsf38 Champion Author Rochester Posts:5,853 Points:1,537,955 Joined:Jun 2008	Message Posted: Sep 16, 2012 2:24:45 PM Ignore craigsf38 Report Abuse Not a surprise