How much is gasoline in your neck of the woods?

$4.25 average in my neighborhood. I just put $50 in my tank and just barely got it filled. I'm glad I have a fuel-efficient car right now.

Just read this over at Bloomberg.com:

OPEC Leader Khelil Says Dollar Will Drive Oil to $170 (Update1) By Ahmed Rouaba June 28 (Bloomberg) -- OPEC President Chakib Khelil predicted that the price of oil will climb to $170 a barrel before the end of the year, citing the dollar's decline and political conflicts. ``Oil prices are expected to reach $170 as demand for fuel is growing in the U.S. during the summer period and the dollar continues to weaken against the euro,'' Khelil said today in a telephone interview. The leader of the Organization of Petroleum Exporting Countries also serves as Algeria's oil minister. Political pressure on Iran and the depreciation of the U.S. currency have caused a surge in oil prices, Khelil said. New York- traded crude has more than doubled in a year and touched a record $142.99 a barrel yesterday on the New York Mercantile Exchange. OPEC ministers generally say that oil output is sufficient, even as Saudi Arabia, the biggest producer, pledged to pump an extra 200,000 barrels a day next month to calm the market. ``The market is completely supplied,'' Venezuelan Oil Minister Rafael Ramirez said yesterday. Libya announced possible production cuts, calling the market oversupplied. The rising cost of crude is not linked to supply, Khelil said today. ``There is more than enough oil in the market to meet the international demand,'' added the OPEC president, who will take part June 30 in an international energy forum in Madrid. Prices, which are up 38 percent this quarter, are heading for the biggest quarterly gain since the first three months of 1999, when oil traded between $11 and $17. Declining Dollar ``The decisions made by the U.S. Federal Reserve and the European Central Bank helped the devaluation of the dollar, which pushed up oil prices,'' Khelil said. Oil may extend gains if the ECB boosts rates on July 3, further weakening the U.S. currency. The dollar has declined 15 percent against the euro in 12 months. ECB President Jean-Claude Trichet reiterated June 25 that policy makers may increase the main refinancing rate by a quarter-percentage point next month to contain inflation. The Federal Reserve left the benchmark U.S. rate at 2 percent on June 25. On Sept. 18 the Fed began cutting rates to bolster an economy already reeling from the credit crisis. To contact the reporter on this story: Ahmed Rouaba in Algiers at arouaba@bloomberg.net Last Updated: June 28, 2008 11:34 EDT

"profit-not revenue, yes I get it" I did the profit not revenue thing because some people I have talked to have assumed that number being as high as it was, was just income. Do not take that as me clarifying it for you specifically or talking down to anyone in any way.

I think more people are finally snapping to the fact that there is an added tax on gas, whereas many had never really paid attention. I don't think people are blaming that tax as being the primary reason for the high prices per se, just that it's another burden on top of an already rising expense. I am not defining oil companies as big and evil nor saying they should not make a profit. I would however say that I see that level of profit as excessive. I get that demand, the oil futures market, etc. are the drivers of the increases. However, I still am not seeing what the purpose is of maintaining that high of a profit level. And yes it's their perogative to sell it at what prices they want. I just couldn't be the guy seeing multi-billions in profits and trying to be straight faced while telling people to like it or lump it.