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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:18,610 Points:1,608,545 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:7,302 Points:1,526,220 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:18,610 Points:1,608,545 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:5,518 Points:387,695 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:4,147 Points:770,905 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:1,985 Points:2,526,335 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:1,191 Points:358,540 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:2,407 Points:530,550 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:3,788 Points:752,940 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:356,745 Joined:Oct 2011	Message Posted: Jan 5, 2013 12:16:05 AM Ignore Delight777 Report Abuse Not good.
Dragnet Champion Author Arizona Posts:15,406 Points:2,908,760 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:8,491 Points:1,628,765 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:3,788 Points:656,070 Joined:Jan 2009	Message Posted: Jan 5, 2013 12:10:08 AM Ignore Rooster922 Report Abuse Wow again.
GasholeMI Champion Author Lansing Posts:10,134 Points:1,717,315 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:2,468 Points:662,200 Joined:Jan 2010	Message Posted: Jan 5, 2013 12:08:58 AM Ignore rahcat Report Abuse Fiscal cliff optimism????????
Jmac2008 Champion Author Missouri Posts:2,274 Points:881,140 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:1,440 Points:289,715 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:12,098 Points:2,290,020 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:1,266 Points:351,175 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:11,472 Points:2,080,760 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:6,989 Points:1,239,785 Joined:Apr 2009	Message Posted: Jan 5, 2013 12:06:44 AM Ignore BobD2009 Report Abuse They already have.
KnoxGasPriceSpy Champion Author Knoxville Posts:140,856 Points:919,820 Joined:Oct 2010	Message Posted: Jan 5, 2013 12:05:49 AM Ignore KnoxGasPriceSpy Report Abuse they already did...
pa79th Champion Author Pennsylvania Posts:1,777 Points:1,215,875 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:1,069,925 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:266,535 Joined:Jul 2012	Message Posted: Jan 5, 2013 12:03:34 AM Ignore rsox67 Report Abuse Ok
joel27nc Champion Author Raleigh Posts:10,532 Points:1,857,395 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:1,374 Points:516,155 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:978 Points:397,080 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:3,557 Points:1,919,005 Joined:Mar 2003	Message Posted: Jan 4, 2013 11:58:31 PM Ignore sydb7 Report Abuse Bad!
Trowinsamoan Champion Author Los Angeles Posts:1,152 Points:185,865 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:94,160 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:8,592 Points:1,787,620 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:276,245 Joined:Jun 2012	Message Posted: Jan 4, 2013 11:53:34 PM Ignore VanIsleLes Report Abuse Not good
mrsports007 Champion Author Raleigh Posts:9,540 Points:1,612,615 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:2,351 Points:1,848,475 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:10,896 Points:2,131,605 Joined:Apr 2007	Message Posted: Jan 4, 2013 11:41:28 PM Ignore pgerassi Report Abuse Recession looms.
KhelbenArunson Champion Author Michigan Posts:4,441 Points:716,890 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:2,196 Points:549,010 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:8,799 Points:1,842,475 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:616 Points:182,960 Joined:Oct 2012	Message Posted: Jan 4, 2013 11:35:55 PM Ignore erndog0331 Report Abuse Of course
BoerneWatch Champion Author San Antonio Posts:15,536 Points:2,452,965 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:1,772 Points:721,425 Joined:Mar 2010	Message Posted: Jan 4, 2013 11:35:28 PM Ignore tco9436 Report Abuse fn joke
drz614 Champion Author Harrisburg Posts:2,300 Points:597,690 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:9,852 Points:1,612,250 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:2,212 Points:871,990 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:3,027 Points:1,388,480 Joined:May 2005	Message Posted: Jan 4, 2013 11:25:24 PM Ignore wulf2000 Report Abuse All around is always bad news.