Gas Prices Rising...

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Originally Posted by OldFogey

I'm OLD. I can remember gas wars in the 70's. I actually filled Dad's Mustang up with premium as it was .22 / gallon and regular was only a few cents cheaper. I then went to Mickey D's and had a burger, fries, and a soda for less than a dollar. Dang...

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Back then the talk at our station was. It's possible gas might go over $1. a gallon.

Probably a good time to get a 4X4 V10 bargain!

So, oil is nearing the point it peaked right before 2008/09. We all know what happened then.

But this time the supply chain is already in complete tatters. And the world very well may be on the bring of war.

I'm not sure the world economy can absorb this.

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Originally Posted by hollohas

So, oil is nearing the point it peaked right before 2008/09. We all know what happened then.

But this time the supply chain is already in complete tatters. And the world very well may be on the bring of war.

I'm not sure the world economy can absorb this.

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It may be a blessing, but I was in the middle of an investment move (non taxable custodial event) and although I lost a ton of money in January before the move, 80% of my retirement account is still sitting in cash and hasn't been rolled back into the market yet. The 15% that is, is doing just OK. We may miss some of the uptick when it happens but I'm less likely to ride this thing to the bottom. I've been moderately aggressive since the mid 90's, weathered 2008, and did well enough through 2021, but it's time to pull back some for me.

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Originally Posted by brutal

It may be a blessing, but I was in the middle of an investment move (non taxable custodial event) and although I lost a ton of money in January before the move, 80% of my retirement account is still sitting in cash and hasn't been rolled back into the market yet. The 15% that is, is doing just OK. We may miss some of the uptick when it happens but I'm less likely to ride this thing to the bottom. I've been moderately aggressive since the mid 90's, weathered 2008, and did well enough through 2021, but it's time to pull back some for me.

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Same here. Retired with 80% plus getting a little over 2% in my company?s stable value fund. I?ll take it for now and adjust once things settle down. If this takes a while I?ll be fine with the ultra conservative portfolio.

Weird, I remember the Y2K fiasco......but not cheap gas.

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Originally Posted by OtterbatHellcat

Weird, I remember the Y2K fiasco......but not cheap gas.

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In the context though, it was normal priced gas then. Just slightly more reasonable than the average, not barn busting news.

I do remember when it was a thing for some people to drive 11 miles to get to a station that was 2 cents cheaper. Even back then I was like... Math is that hard?

Some traders are now saying oil will be $200+ per barrel by the end of March. I'm sure a lot of the reasoning behind that is due to a potential cut-off of Russian oil...which we should've already done.

Put gasoline in perspective.

When I was a teenager gas was about a buck gallon plus or minus.

I had a good job paying almost $7/hr but most of my friend working fast food were $3.50 - $4.00 an hour.

So it was about 3 gallons of gas per fast food hour.

Now the fast food places are paying $15/hr. So gas is still about 3 gallons per fast food pay hour.

It?s not absolute cost that matters. It is buying power.

I can't help to think that crime has been on the rise and is only going to get worse as the economy tightens all around us. New record high gas prices are only going to make it, crime, get even worse then it already is.

I had been contemplating selling my motorcycle, BUT with record gas prices on the horizon, think it's smart to keep it as my cheap mode of transportation.