Gasoline now $3.45 in most places here

"Here" being Reidsville, North Carolina and the surrounding area.

It will likely hit $4 per gallon or thereabouts by the end of the week. And this month might end with it averaging $5 a gallon, depending on how the situation in Libya goes.

I haven't said anything about Libya yet on this blog. But for those who are curious: I don't see any good outcome. Kadaffi (or however you spell his name and I've heard there are about a hundred English translations) is a nutcase and a half enforcing his private little fantasy world with lots of guns and missiles and probably chemical weapons... but if he goes down in what can only be called civil war at this point, look for the Muslim Brotherhood-type that we just saw running the show in the Egyptian revolt to take charge.

And then things start to get interesting.

(I would also - not to put too fine a point on it - advise keeping an eye on Saudi Arabia in the near future.)

Two other factors that are ramping-up the price of fuel: the official stance by the executive branch of the United States federal government to disprove of increased deep-water drilling. And, something that I've talked about a few times already on this blog: that this country needs more oil refineries. That is more a bottleneck than most people realize, but there haven't been any new refineries built in quite some time. Without that, whatever increased petroleum production we might have becomes a moot thing.

I'm due to take a trip early next month. It'll be a long drive. Here's hoping that the pumps between here and yonder won't be seven bucks and change. The way things are going now, I wouldn't doubt it.

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Running gas prices update post

In an update to the earlier story, a friend has told me that gas is now just over $7 not far over the line in South Carolina. Which makes it all the more interesting considering that South Carolina's gas tax is lower than North Carolina's and a lot of people along the border fill their cars up there if they can.

I'll be adding on more prices as they come in.

I don't believe at this point that this has anything to do with Ike, and everything to do with over-zealous speculation.

EDIT 6:13 p.m. EST: Fox 8 WGHP is reporting that most gas stations in Greensboro are now out of fuel. Average price seems to be about $3.90 in the area. The local Wal-Mart Supercenter just down the road from us in Rockingham County is tapped dry of juice.

A source has passed along word that the Colonial pipeline - which runs from Houston east and up the Piedmont region of the eastern seaboard, including through this area and on to New York City - is now operating at less than half of its usual capacity.

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Gas now $3.75 per gallon in Reidsville, North Carolina

Spotted it earlier this afternoon while en route to a client.

Humorously, the price of gas in the video game Grand Theft Auto IV is $3.59 a gallon. When I told Mom she suggested that perhaps the makers of the game should have it auto-update via the Internet so that Liberty City will have high gas prices, too.

Seriously though, it seemed like just yesterday (actually it was about nine years ago) that gas was about ninety cents a gallon. It's now well over 400% that.

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Gasoline prices in Reidsville, North Carolina today

Averaging about $3.39 a gallon. Up about 10-15 cents in just a few days' time. And $4.45 has been spotted in at least two places around town. I had to pay a bit more than $50 to fill up my Toyota Camry.

While gassing-up at a convenience store on Scales Street I had a spirited conversation with one guy and his mom, about the high gas prices. We all agreed: we are being led by "lunatics and madmen" who probably can never remember the last time they had to touch a gas-pump nozzle.

The funny thing of it is, it's not necessarily that the oil is "running out" or even refinery problems right now that's causing the outrageous jack-up of prices. It's inflation, a primary reason for that being that the federal government for the past few weeks has been injecting about $38 billion per day into the economy to boost failing financial institutions like Bear Stearns, etc. That's $38 billion per day of fiat money, without anything really backing it.

And now what these "brilliant" leaders are doing is biting the little guy hard in the pocketbook.

Once again I am reminded of that term that came to mind a few months ago to describe the times in which we live: "the Hell Époque". America cannot long suffer this kind of inept, irresponsible management.

Sometimes I wonder if that was the plan all long, in someone's reckoning.

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