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Costs Rise at Fastest Pace in 3 Years

NY Times -- An increase in the cost of gasoline pushed consumer prices up in August at the fastest pace in more than three years and squeezed spending on other items, threatening to further slow the already sluggish United States economy.

At the same time, production at the nation’s factories, mines and utilities dropped by 1.2 percent, the biggest decline since March 2009, other data on Friday showed.

The sour mix of numbers was tempered by an unexpected increase in consumer sentiment in early September and signs that underlying inflation pressures remained contained.

With gasoline costs increasing, service stations chalked up healthy receipts. A second report from the Commerce Department showed sales at gasoline stations shot up 5.5 percent last month, helping to push overall retail sales up 0.9

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Submitted Sep 15, 2012 By: skb69sa

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MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 17, 2012 12:47:56 AM Ignore MadTraveler Report Abuse Way to go Obama.
StArrow68 Champion Author Oakland Posts:3,397 Points:1,387,665 Joined:Apr 2003	Message Posted: Sep 16, 2012 4:34:34 PM Ignore StArrow68 Report Abuse For those that want to blame political unrest, great, it is a factor. But, overspending by Washington is weakening the dollar and that is a much bigger factor in the rise of oil prices. Policy that will continue until changed. Washington is giving away tax dollars to those that don't pay taxes to buy votes, pure and simple.
drpepperTX Champion Author Texas Posts:9,159 Points:778,875 Joined:Apr 2011	Message Posted: Sep 16, 2012 11:24:02 AM Ignore drpepperTX Report Abuse It's really said that so many choose to be ignorant of market reality in this country. So many will be shocked to hear this: look at profit margin for the oil and gas refining and marketing sector. It is 3.5%, ranking below about 80 other industry sectors.
Soglaos Champion Author Virginia Beach Posts:2,851 Points:765,405 Joined:Feb 2011	Message Posted: Sep 16, 2012 10:44:40 AM Ignore Soglaos Report Abuse repeat
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 16, 2012 3:22:41 AM Ignore MadTraveler Report Abuse Yepper
DrCashFlow Champion Author Massachusetts Posts:7,204 Points:1,654,785 Joined:Jun 2008	Message Posted: Sep 16, 2012 2:46:00 AM Ignore DrCashFlow Report Abuse Thanks Ben
sprocketsplines Champion Author Washington Posts:1,813 Points:888,060 Joined:Oct 2010	Message Posted: Sep 15, 2012 10:25:22 PM Ignore sprocketsplines Report Abuse Increasing costs of fuel for trucking will eventually push up the price of food and other consumer items that are shipped by truck. So rising gasoline costs have both a direct and indirect impact on the Consumer Price Index.
CDMAuto Champion Author Connecticut Posts:3,932 Points:781,555 Joined:Apr 2011	Message Posted: Sep 15, 2012 10:11:30 PM Ignore CDMAuto Report Abuse GREED is pushing
Sneakers55 Champion Author Houston Posts:51,849 Points:2,168,625 Joined:Nov 2005	Message Posted: Sep 15, 2012 10:08:02 PM Ignore Sneakers55 Report Abuse The only oil company that I have seen that makes significantly more in profit margin (profits after expenses paid divided by total sales) than the average corporation is ExxonMobil. Pharmaceutical companies, Apple, and Microsoft make a significantly higher profit margin than average, but a grocery store is doing well if it ekes out 2% profit.
rahcat Champion Author Grand Rapids Posts:2,681 Points:689,900 Joined:Jan 2010	Message Posted: Sep 15, 2012 10:05:28 PM Ignore rahcat Report Abuse Thank you Obama.
shores4now Champion Author Kentucky Posts:2,549 Points:551,500 Joined:Jul 2009	Message Posted: Sep 15, 2012 10:03:08 PM Ignore shores4now Report Abuse ok
comprof Champion Author Houston Posts:7,009 Points:1,384,450 Joined:Jul 2009	Message Posted: Sep 15, 2012 10:02:36 PM Ignore comprof Report Abuse All of this printing of unsecured money has devalued the dollar and drastically increased inflation (the government figures of inflation conveniently do not consider food and masic essentials). This inflation will continue to increase at an accelerated rate. The poor and middle class and the retired on fixed income are the ones hurt by this. Wake up Obama supporters. Get your head and brain out of the sand.
Dragnet Champion Author Arizona Posts:15,548 Points:2,934,510 Joined:Jul 2004	Message Posted: Sep 15, 2012 10:02:22 PM Ignore Dragnet Report Abuse It's Obama's fault
Cheney Champion Author Toronto Posts:2,037 Points:2,557,510 Joined:May 2004	Message Posted: Sep 15, 2012 10:01:08 PM Ignore Cheney Report Abuse those who blame Obama just aren't part of the planet.
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Sep 15, 2012 9:59:17 PM Ignore bonzoonfmb Report Abuse Gas prices are too high.
suzmar Champion Author Texas Posts:2,223 Points:896,935 Joined:Jun 2006	Message Posted: Sep 15, 2012 9:58:27 PM Ignore suzmar Report Abuse Just remember government makes more per gallon in taxes than the oil industry does.
listerone Champion Author Boston Posts:3,490 Points:904,490 Joined:Aug 2008	Message Posted: Sep 15, 2012 9:57:29 PM Ignore listerone Report Abuse "Don't ya just love those who blame the president for high prices" Every other ad during the '08 campaign was accusing Bush of driving up gas prices.
Sneakers55 Champion Author Houston Posts:51,849 Points:2,168,625 Joined:Nov 2005	Message Posted: Sep 15, 2012 9:54:32 PM Ignore Sneakers55 Report Abuse On Sep 15, 2012 10:42:52 PM, N4PIP wrote: >Don't ya just love those who blame the president >for high prices. Where were you people when Bush >was in office and prices were over $3.50 a gallon? Prices in Houston, usually lower than average in Texas and the nation, went as high as $4.149 at the Conoco station that was invariably the lowest in the area. Now, I go to the grocery store a lot and rack up Kroger Fuel Points so I get 10 cents off when I refuel at Shell. That makes them the cheapest Top Tier Gas in Houston. Everybody said prices were high because Bush-43 was an oilman in Texas. He was the Governor of Texas before he resigned before he took the office of President of the United States. Now, we have a President that is neither from Texas nor an oilman, and oil prices are high in an election year. [Edited by: Sneakers55 at 9/16/2012 12:00:57 AM EST]
Tekkersmom57 Champion Author Syracuse Posts:2,019 Points:728,890 Joined:May 2010	Message Posted: Sep 15, 2012 9:53:05 PM Ignore Tekkersmom57 Report Abuse Sure, let's squeeze more money from the consumer that they don't have. Aren't we proud to be in the state that we are in? What a mess!!!
DrLyon Champion Author Michigan Posts:6,769 Points:1,238,615 Joined:May 2006	Message Posted: Sep 15, 2012 9:48:42 PM Ignore DrLyon Report Abuse Like we know...
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Sep 15, 2012 9:48:00 PM Ignore mstearno Report Abuse who cares
nightworker998 Champion Author Maryland Posts:1,907 Points:688,915 Joined:Mar 2009	Message Posted: Sep 15, 2012 9:46:44 PM Ignore nightworker998 Report Abuse Welcome to depression #3 since 2008.
SavALot Champion Author Virginia Beach Posts:8,618 Points:1,739,185 Joined:Apr 2005	Message Posted: Sep 15, 2012 9:43:57 PM Ignore SavALot Report Abuse and it's not showing any signs of slowing down
humancry Champion Author Michigan Posts:4,620 Points:1,003,470 Joined:Nov 2006	Message Posted: Sep 15, 2012 9:43:04 PM Ignore humancry Report Abuse Just what big oil and the tycoons that own them and invest in them want... some one should pay them back...
N4PIP Champion Author Miami Posts:1,010 Points:445,055 Joined:Jan 2012	Message Posted: Sep 15, 2012 9:42:52 PM Ignore N4PIP Report Abuse There's no relief in sight. Don't ya just love those who blame the president for high prices. Where were you people when Bush was in office and prices were over $3.50 a gallon?
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 Joined:Nov 2008	Message Posted: Sep 15, 2012 9:41:11 PM Ignore abcdMA Report Abuse just the start of a long long term of higher inflation caused by excessive government spending and deficits
s6sputnik Champion Author Austin Posts:6,332 Points:1,333,645 Joined:Jun 2007	Message Posted: Sep 15, 2012 9:29:58 PM Ignore s6sputnik Report Abuse Yep!
camaro_man Champion Author Kitchener-Waterloo Posts:2,368 Points:638,640 Joined:Jun 2010	Message Posted: Sep 15, 2012 9:21:19 PM Ignore camaro_man Report Abuse just bigger profits...
LucsPapa All-Star Author New Brunswick Posts:633 Points:1,044,325 Joined:Jan 2010	Message Posted: Sep 15, 2012 9:20:14 PM Ignore LucsPapa Report Abuse I don't understand why Obama gets all the blame!!! What about all the political unrest in the world. What about the person/persons who aggravated the Muslims that caused all the uprising in the Arab world. I don't think it's fair to blame just one person.
WIWalt Champion Author Wisconsin Posts:1,852 Points:441,965 Joined:Mar 2012	Message Posted: Sep 15, 2012 9:16:55 PM Ignore WIWalt Report Abuse It so the big oil companys can pay for the campaign bills
dancygreen Champion Author Twin Cities Posts:2,188 Points:511,370 Joined:Sep 2011	Message Posted: Sep 15, 2012 9:16:01 PM Ignore dancygreen Report Abuse depressing, isn't it?
jad1960 Champion Author Gary Posts:1,575 Points:423,030 Joined:Feb 2012	Message Posted: Sep 15, 2012 9:15:58 PM Ignore jad1960 Report Abuse Whatever prices don't drop quick enough to rise all of a sudden again.
singlemom27 Champion Author Ventura Posts:3,248 Points:666,910 Joined:Apr 2011	Message Posted: Sep 15, 2012 9:13:49 PM Ignore singlemom27 Report Abuse Interesting...prices here suddenly dropped a few cents here.
DEG Champion Author Las Vegas Posts:17,745 Points:3,519,480 Joined:Jul 2003	Message Posted: Sep 15, 2012 9:10:50 PM Ignore DEG Report Abuse ramshot412, as a country we definitely are WORSE OFF than 4 years ago. The national debt has increased by more than $1Trillion/year under the current president. The national debt in the last 3.5 years has gone up more than in the 8 years under the previous president.
bcok Champion Author Los Angeles Posts:2,181 Points:1,555,520 Joined:Oct 2005	Message Posted: Sep 15, 2012 9:10:31 PM Ignore bcok Report Abuse Does it, if ever get any better?
mcmonsta Champion Author Honolulu Posts:3,347 Points:845,320 Joined:Sep 2009	Message Posted: Sep 15, 2012 9:10:31 PM Ignore mcmonsta Report Abuse hurrah for the speculators for helping this mess
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 15, 2012 9:09:58 PM Ignore MadTraveler Report Abuse Thanks Obama.
DEG Champion Author Las Vegas Posts:17,745 Points:3,519,480 Joined:Jul 2003	Message Posted: Sep 15, 2012 9:07:25 PM Ignore DEG Report Abuse Exactly what Obama wanted. He stated that fossil fuels would necessarily have to increase. Obama has kept the promise to keep fuel prices increasing.
clermont40miles Champion Author Cincinnati Posts:10,754 Points:1,799,595 Joined:Apr 2008	Message Posted: Sep 15, 2012 9:07:20 PM Ignore clermont40miles Report Abuse Another round is starting - Helicopter Zimbabwe Ben Benanke had done it again and worse than ever. Had enough?
wayoung56 Champion Author Alabama Posts:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Sep 15, 2012 9:04:03 PM Ignore wayoung56 Report Abuse What else is new? The last four years of my life has been the worse, I lost my job late in 2008 and was unable to find another in my chosen field due to cuts in Defense spending made by the incoming NoBama Administration. I had to withdraw and spend all of my voluntary retirement savings just to pay bills, I'll never be able to retire (until I die) and right now can't afford to go to the dentist. Thanks NoBama!!! (not really...)
heysailor Champion Author Pittsburgh Posts:9,717 Points:2,360,145 Joined:Mar 2006	Message Posted: Sep 15, 2012 9:03:00 PM Ignore heysailor Report Abuse Ditto
acvw74 Champion Author Illinois Posts:2,115 Points:713,050 Joined:Apr 2011	Message Posted: Sep 15, 2012 9:02:11 PM Ignore acvw74 Report Abuse Tell us something we didn't know.
DriverofRed Champion Author Calgary Posts:2,308 Points:436,660 Joined:Dec 2011	Message Posted: Sep 15, 2012 9:00:49 PM Ignore DriverofRed Report Abuse k
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Sep 15, 2012 8:59:39 PM Ignore mobil1MN Report Abuse just reelect obummer and prices will go even higher.
bevmill Champion Author Georgia Posts:2,716 Points:628,000 Joined:Apr 2006	Message Posted: Sep 15, 2012 8:58:55 PM Ignore bevmill Report Abuse okay
ramshot412 Champion Author Riverside Posts:20,274 Points:2,490,590 Joined:Apr 2004	Message Posted: Sep 15, 2012 8:58:45 PM Ignore ramshot412 Report Abuse Yes, but we are BETTER OFF than we were 4 years ago.
Bildawg Champion Author Ohio Posts:1,091 Points:504,245 Joined:Oct 2011	Message Posted: Sep 15, 2012 8:58:41 PM Ignore Bildawg Report Abuse Oh Goodie
fullauto Champion Author Reading Posts:5,425 Points:1,492,940 Joined:Apr 2008	Message Posted: Sep 15, 2012 8:58:35 PM Ignore fullauto Report Abuse BOHICA
Buck_on_Bass Champion Author Tennessee Posts:7,710 Points:1,481,960 Joined:Jul 2007	Message Posted: Sep 15, 2012 8:58:21 PM Ignore Buck_on_Bass Report Abuse The FED is attempting to make up for the uncertainty in tax policy and governments spending.
pickledude72 Champion Author California Posts:1,121 Points:841,240 Joined:Jul 2008	Message Posted: Sep 15, 2012 8:54:13 PM Ignore pickledude72 Report Abuse GOOD OLE O'BUMMER DE HUSEIN/BUM LADER/