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GasBuddy News Article

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Profiting from Pain at the Pump

FOXBusiness --
The spike in oil is pushing gasoline prices to record highs for this time of year, forcing Americans to dig deeper into their pockets.

Nationwide, a gallon of regular costs an average of $3.61, more than 13% higher compared with one year ago. Prices are expected to climb, as some analysts predict the national average to break $4 per gallon this spring.

But some sectors in the market are profiting off America’s pain at the pump, and the rising price of oil is sparking a rally in energy sector ETFs. Energy Select Sector SPDR [XLE] is up 9.29% so far this year, and nearly 29% since oil’s October low. IShares DJ U.S. Oil & Gas Ex Index [IEO], which is primarily focused on the production and exploration of oil and natural gas, is also getting a strong start, up 14.98% year-to-date.

I


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Submitted Feb 24, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
niceguytx
Champion Author Houston

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Message Posted: Feb 26, 2012 10:11:07 AM

i hope this is near the peak.
1006
Champion Author Birmingham

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Message Posted: Feb 26, 2012 8:24:43 AM

it's time to sell
OmieCA
Veteran Author California

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Joined:May 2011
Message Posted: Feb 25, 2012 12:12:13 AM

Damn! May have missed the boat on that investment... :(
melvindale
Champion Author Michigan

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Points:351,230
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Message Posted: Feb 25, 2012 12:09:49 AM

A conscience means having nothing to do with the sale or production of gasoline or oil.
kgbellman
Champion Author Ann Arbor

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Message Posted: Feb 25, 2012 12:04:11 AM

Too much money to be made by raising prices all the way around
FastAndy
Champion Author Indianapolis

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Message Posted: Feb 25, 2012 12:00:30 AM

A lot of PAIN.
ITDXVida
Sophomore Author Washington

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Joined:Feb 2012
Message Posted: Feb 24, 2012 11:59:59 PM

Im just driving less...
sammy518
Champion Author Austin

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Message Posted: Feb 24, 2012 11:59:41 PM

yep
PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 24, 2012 11:59:13 PM

Outlaw speculating in energy..
bif65
Champion Author Virginia

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Joined:Jan 2011
Message Posted: Feb 24, 2012 11:58:42 PM

ok
tippybuddy
Champion Author Ontario

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Message Posted: Feb 24, 2012 11:57:48 PM

we're paying over 5.00 a gallon in Ontario
Wierbe
Champion Author Cincinnati

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Message Posted: Feb 24, 2012 11:57:44 PM

It makes me absolutely ill (and mad) to hear reports like this.
kgbellman
Champion Author Ann Arbor

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Message Posted: Feb 24, 2012 11:57:25 PM

Too much money to be made by raising prices all the way around
singlemom27
Champion Author Ventura

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Message Posted: Feb 24, 2012 11:57:16 PM

F***ing speculation is the biggest factor in high gas prices. It has little to do with Iran and Keystone.
Dodge_Me
Champion Author Atlanta

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Message Posted: Feb 24, 2012 11:57:13 PM

that sucks
bonzoonfmb
Champion Author Florida

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Message Posted: Feb 24, 2012 11:55:54 PM

Speculators suck. But please continue to buy XOM products.
hcivic
Champion Author Virginia

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Message Posted: Feb 24, 2012 11:47:47 PM

it keeps going up every day!
g747
Champion Author Mobile

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Message Posted: Feb 24, 2012 11:47:12 PM

Start form Wall St.Punish gouger's with stiff penalities with shutting them down.Close all loophole for them not to open under a new name.
us4usa
Champion Author Missouri

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Message Posted: Feb 24, 2012 11:46:01 PM

If you think its hard now, you're just kidding yourself...
chvytruk
All-Star Author Kentucky

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Points:412,335
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Message Posted: Feb 24, 2012 11:45:11 PM

wunnerful!
Hope they choke on every damned penny of it!
And a pox on Obama's skinny arse as well!
Sundarakhemesi
Sophomore Author Ontario

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Message Posted: Feb 24, 2012 11:42:10 PM

It's hard 2 say
fenster66
Champion Author Pittsburgh

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Message Posted: Feb 24, 2012 11:39:10 PM

we should all be glad that they are profiting from our pain....
skybiker
Champion Author South Carolina

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Message Posted: Feb 24, 2012 11:37:29 PM

Little guy is screwed.....
RitaVespa
Champion Author Oregon

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Message Posted: Feb 24, 2012 11:37:27 PM

Will keep us in this recession longer
wwardyota
Champion Author Honolulu

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Message Posted: Feb 24, 2012 11:34:20 PM

alas, our pain is their gain...
eswi
Champion Author Madison

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Message Posted: Feb 24, 2012 11:34:09 PM

OK
ratones1
Champion Author Los Angeles

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Message Posted: Feb 24, 2012 11:29:39 PM

more changes!!!
HDFXR1991
All-Star Author Wisconsin

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Message Posted: Feb 24, 2012 11:24:40 PM

Obama Killing America from within!!
Chris46
Champion Author Dayton

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Message Posted: Feb 24, 2012 11:22:02 PM

More and more people are doing without, just so they can buy gas.
The_DR
Champion Author New Jersey

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Message Posted: Feb 24, 2012 11:16:37 PM

I'm living it.
zonkthegreat
Champion Author San Diego

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Message Posted: Feb 24, 2012 11:13:50 PM

Love my LEAF!!!!!!!!!!!!!
must87searcher
Champion Author Maryland

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Message Posted: Feb 24, 2012 11:11:40 PM

Prices may be going and it is also evident that some that supply the oil will make some profit. One this is true, and that there is going to be a limit on price. If the price goes too high, another fall will appear, and businesses don't what to see that.

Perhaps we could get some of the fell that nations of Asia get. They export a large amount of there production (China & OPEC), because they have/make too much for their own selves. If the US exports, there is still a need to do trade with other countries.
Lukus
Champion Author Halifax

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Message Posted: Feb 24, 2012 11:11:08 PM

We all thought Obama would do a better job than old George W but he hasn't done anything for the motoring public on gas and diesel prices.
hubhunts
Veteran Author Alabama

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Message Posted: Feb 24, 2012 11:01:26 PM

In Marion Alabama gas is 3.699 and has been over average for years.
Beaveronparade
Champion Author Hartford

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Message Posted: Feb 24, 2012 10:59:32 PM

There is no doubt they profit from our pain. We need change in Washington before we see any relief.
coke_kid
Champion Author Chicago

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Message Posted: Feb 24, 2012 10:57:13 PM

ok theres not many jobs for people and people loosing jobs every day in the thousands, Obama spent 5 trillion in 3 yrs of your money causeing higher inflation causing gas prices to double in 3 yrs up 90%.. people are broke and more on food stamps ever and yet Obama keeps spending and no one ever does anythig to help but just keeps feeding the machine killing the people at home in the paycheck or no paycheck?
mrbee
Champion Author Little Rock

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Message Posted: Feb 24, 2012 10:47:16 PM

More of that change you wanted.
suzmar
Champion Author Texas

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Message Posted: Feb 24, 2012 10:37:47 PM

Continued high prices will be bad news for the economy.
toadNY
Champion Author Albany

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Message Posted: Feb 24, 2012 10:36:58 PM

The problem is b.h.obama wake up AMERICA! before he makes as a 3 third world Country vOTE HIM out!
my2002m
Champion Author Tulsa

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Message Posted: Feb 24, 2012 10:33:45 PM

This fragile recovery is going to go down the drain.
a_lu_vasile
Champion Author Maryland

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Message Posted: Feb 24, 2012 10:33:43 PM

ok
carman11
Champion Author North Carolina

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Message Posted: Feb 24, 2012 10:31:38 PM

OK. WHO DO WE BLAME NOW THAT GEORGE BUSH AND DICK CHANEY ARE NOT IN OFFICE? RECORD HIGH PRICES FOR THIS TIME OF YEAR. IN STEAD OF BLAMING LETS FIX THE PROBLEM BY LOWER TAXES AND MORE JOBS.
Cashless
Champion Author Akron

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Message Posted: Feb 24, 2012 10:27:25 PM

O.K.
hagar2935
Veteran Author Nevada

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Message Posted: Feb 24, 2012 10:22:13 PM

Most of the West is well over $4.00 per gallon already and some in California over $5.00 ............. Look for $6.00 per gallon soon!
texashoudini
Champion Author Austin

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Message Posted: Feb 24, 2012 10:21:10 PM

There goes the economy.
FuelOilOH
Champion Author Cleveland

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Message Posted: Feb 24, 2012 10:21:06 PM

If you have money to invest or a retirement fund where you can direct your assets then oil is where you ought to be at least for the next few months. If you are living paycheck to almost paycheck, well a car is not going to be your friend. Unless a chief executive in the White House goes out and bombs our source of oil it really is left to the speculators and market to set the price we pay at the pump. If you want the government to subsidize fuel then we have a Socialistic government. I prefer Capitalism and free enterprise. Sometimes it hurts but overall it beats Communism.
RUNNINONEMPTYFL
Champion Author Florida

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Message Posted: Feb 24, 2012 10:17:16 PM

Go figure
jindodog
Veteran Author Missouri

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Message Posted: Feb 24, 2012 10:16:54 PM

The rich keep getting richer and the rest of us are being forced into poverty. Obama's plan is succeding perfectly!
abcdMA
Champion Author Worcester

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Message Posted: Feb 24, 2012 10:16:22 PM

in chaos there is opportunity
ericbcire
Champion Author Nevada

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Message Posted: Feb 24, 2012 10:16:03 PM

Prices must fall or the economy will worsen.
frostyWV
Champion Author West Virginia

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Message Posted: Feb 24, 2012 10:15:59 PM

greed
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