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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:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Jan 8, 2013 4:00:25 AM Ignore honda0105 Report Abuse mandoid: already up and national average is rising.
mandoid Champion Author Colorado Springs Posts:7,314 Points:1,529,935 Joined:May 2008	Message Posted: Jan 7, 2013 4:35:45 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:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Jan 7, 2013 3:56:49 AM Ignore honda0105 Report Abuse prices have been going up around here for a while...
gs7101 Champion Author San Antonio Posts:5,538 Points:389,345 Joined:Jun 2009	Message Posted: Jan 5, 2013 5:31:31 AM Ignore gs7101 Report Abuse Increasing gas prices isn't good news!
scu227 Champion Author New Haven Posts:4,167 Points:774,805 Joined:Feb 2011	Message Posted: Jan 5, 2013 12:25:52 AM Ignore scu227 Report Abuse SPECULATORS AT WORK !!!!!!!!!!!!
crreed1 Champion Author West Virginia Posts:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Jan 4, 2013 10:36:35 PM 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 4, 2013 10:34:22 PM Ignore diesel8888 Report Abuse Any news coming out of the white house is depressing!
KrsnaDragon Champion Author Montreal Posts:2,422 Points:534,325 Joined:Nov 2011	Message Posted: Jan 4, 2013 10:29:56 PM 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:3,806 Points:756,780 Joined:Apr 2011	Message Posted: Jan 4, 2013 10:16:16 PM 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:360,245 Joined:Oct 2011	Message Posted: Jan 4, 2013 10:16:05 PM Ignore Delight777 Report Abuse Not good.
Dragnet Champion Author Arizona Posts:15,422 Points:2,911,685 Joined:Jul 2004	Message Posted: Jan 4, 2013 10:11:47 PM 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:8,506 Points:1,632,440 Joined:Sep 2005	Message Posted: Jan 4, 2013 10:11:19 PM Ignore unicornpmb Report Abuse Time to bend over.
Rooster922 Champion Author Wilmington Posts:3,803 Points:658,995 Joined:Jan 2009	Message Posted: Jan 4, 2013 10:10:08 PM Ignore Rooster922 Report Abuse Wow again.
GasholeMI Champion Author Lansing Posts:10,154 Points:1,720,915 Joined:Jul 2008	Message Posted: Jan 4, 2013 10:09:27 PM 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:2,483 Points:665,125 Joined:Jan 2010	Message Posted: Jan 4, 2013 10:08:58 PM Ignore rahcat Report Abuse Fiscal cliff optimism????????
Jmac2008 Champion Author Missouri Posts:2,289 Points:884,065 Joined:Dec 2008	Message Posted: Jan 4, 2013 10:08:36 PM Ignore Jmac2008 Report Abuse and it should be going down not up at this time of year.
obimerrill Champion Author Cincinnati Posts:1,455 Points:292,640 Joined:Jul 2012	Message Posted: Jan 4, 2013 10:08:09 PM 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:12,112 Points:2,293,675 Joined:Oct 2006	Message Posted: Jan 4, 2013 10:08:09 PM Ignore Bezalel Report Abuse Eventually they will go up. Remember, crude was about $10/bbl a few years ago.
naspa Champion Author Cleveland Posts:1,286 Points:355,075 Joined:Jan 2012	Message Posted: Jan 4, 2013 10:07:01 PM Ignore naspa Report Abuse It may, but reality differs.
Bigwaynef Champion Author South Carolina Posts:11,495 Points:2,083,685 Joined:Dec 2006	Message Posted: Jan 4, 2013 10:06:59 PM 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:7,004 Points:1,242,710 Joined:Apr 2009	Message Posted: Jan 4, 2013 10:06:44 PM Ignore BobD2009 Report Abuse They already have.
KnoxGasPriceSpy Champion Author Knoxville Posts:140,886 Points:922,745 Joined:Oct 2010	Message Posted: Jan 4, 2013 10:05:49 PM Ignore KnoxGasPriceSpy Report Abuse they already did...
pa79th Champion Author Pennsylvania Posts:1,797 Points:1,219,025 Joined:Jun 2007	Message Posted: Jan 4, 2013 10:05:23 PM Ignore pa79th Report Abuse nahhh
miser709 Champion Author Grand Rapids Posts:1,268 Points:1,072,550 Joined:Mar 2004	Message Posted: Jan 4, 2013 10:04:43 PM Ignore miser709 Report Abuse What a crock of _ _ _ _.
rsox67 All-Star Author Connecticut Posts:707 Points:268,110 Joined:Jul 2012	Message Posted: Jan 4, 2013 10:03:34 PM Ignore rsox67 Report Abuse Ok
joel27nc Champion Author Raleigh Posts:10,552 Points:1,861,295 Joined:Mar 2008	Message Posted: Jan 4, 2013 10:02:48 PM Ignore joel27nc Report Abuse That's why prices are going up, really?
sickhp Champion Author San Antonio Posts:1,389 Points:519,830 Joined:Sep 2011	Message Posted: Jan 4, 2013 10:02:24 PM Ignore sickhp Report Abuse Drill baby drill in all of America.
cheaper0ON All-Star Author Ontario Posts:998 Points:400,980 Joined:Jan 2012	Message Posted: Jan 4, 2013 10:01:59 PM Ignore cheaper0ON Report Abuse BaD.
LostAgain2009 Champion Author New Mexico Posts:2,398 Points:711,685 Joined:Apr 2009	Message Posted: Jan 4, 2013 9:59:06 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:3,563 Points:1,920,900 Joined:Mar 2003	Message Posted: Jan 4, 2013 9:58:31 PM Ignore sydb7 Report Abuse Bad!
Trowinsamoan Champion Author Los Angeles Posts:1,173 Points:189,765 Joined:Nov 2012	Message Posted: Jan 4, 2013 9:57:16 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 9:55:34 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:96,410 Joined:Dec 2012	Message Posted: Jan 4, 2013 9:55:25 PM Ignore RIG89 Report Abuse oil companies smell money and raise prices gas up here in Houston
benjy Champion Author Chicago Posts:8,607 Points:1,791,420 Joined:Nov 2003	Message Posted: Jan 4, 2013 9:54:07 PM Ignore benjy Report Abuse not here...
VanIsleLes All-Star Author British Columbia Posts:898 Points:278,495 Joined:Jun 2012	Message Posted: Jan 4, 2013 9:53:34 PM Ignore VanIsleLes Report Abuse Not good
mrsports007 Champion Author Raleigh Posts:9,550 Points:1,616,065 Joined:Jun 2008	Message Posted: Jan 4, 2013 9:52:19 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 9:48:35 PM Ignore movietracker Report Abuse May boost? Gas prices rose .15 cents overnight!
yeehaw1073 Champion Author Indiana Posts:2,371 Points:1,852,375 Joined:May 2004	Message Posted: Jan 4, 2013 9:42:27 PM Ignore yeehaw1073 Report Abuse we didn't avoid the cliff, we're just taking the long way around
pgerassi Champion Author Milwaukee Posts:10,911 Points:2,134,530 Joined:Apr 2007	Message Posted: Jan 4, 2013 9:41:28 PM Ignore pgerassi Report Abuse Recession looms.
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,040 Joined:Apr 2008	Message Posted: Jan 4, 2013 9:41:23 PM Ignore KhelbenArunson Report Abuse This sounds like fluff and spin paid for big oil.
malfrog1 Champion Author South Bend Posts:2,216 Points:552,160 Joined:Feb 2011	Message Posted: Jan 4, 2013 9:40:38 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 9:39:19 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 9:35:55 PM Ignore erndog0331 Report Abuse Of course
BoerneWatch Champion Author San Antonio Posts:15,557 Points:2,456,865 Joined:Oct 2005	Message Posted: Jan 4, 2013 9:35:41 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:724,975 Joined:Mar 2010	Message Posted: Jan 4, 2013 9:35:28 PM Ignore tco9436 Report Abuse fn joke
drz614 Champion Author Harrisburg Posts:2,314 Points:600,545 Joined:Aug 2011	Message Posted: Jan 4, 2013 9:35:10 PM Ignore drz614 Report Abuse fiscal cliff adverted? really?
jrsva Champion Author Virginia Posts:9,866 Points:1,615,135 Joined:Jan 2006	Message Posted: Jan 4, 2013 9:34:49 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 9:30:47 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:874,085 Joined:Jun 2006	Message Posted: Jan 4, 2013 9:29:17 PM Ignore suzmar Report Abuse Prices were going up before the fiscal cliff was temporarily averted.
wulf2000 Champion Author Miami Posts:3,037 Points:1,391,630 Joined:May 2005	Message Posted: Jan 4, 2013 9:25:24 PM Ignore wulf2000 Report Abuse All around is always bad news.