Gas Prices

[KABOOM]

$3.09 on the Kansas side here. $2.89 at the 7-11 down the street from me in Missouri. But I did see a worker going out with more price signs, so it may be going up even higher. To fill half my tank on Sunday ($2.52) it was $12, only because I sold my truck at the beginning of the summer and bought an old Ford car. Best decision I ever made. :razz: :razz: :razz:

 

[mbblue27]

I live right behind a gas station. Last night I looked out my window to see what price gas was at and it was at $2.89. That was the highest I have seen it here in Michigan and then as I was looking out the window they raised it to $2.99.

When I woke up, gas was at $3.09 and at lunch time gas was up to $3.19.

It is rediculous how fast gas is going up right now. Something has to be done to stop this or I'll be riding a bike everywhere next year at this time.

 

[bobobill]

Today $2.99 yesterday $2.55, Thats a big leap. Let the drilling in Alaska begin, I'm never going there.

 

[SUsyracuse]

$2.90 here in tampa and im told its going up. Heard something about the pres is going to use some of the reserves.

 

[bobobill]

It might be $4 a gallon

http://money.cnn.com/2005/08/31/news/gas_prices/index.htm?cnn=yes

 

[IHateHonda]

My Sunoco station had to go up to $2.99 for regular. It went up 3 time in the past 2 days, it started at $2.62. There is one Mobil station open right now, and it is packed, selling for $2.69 a reg. gallon.

 

[KABOOM]

There's a gas station down in Westport (bar and club area) that had gas at $3.09 in Missouri and said by tomorrow it would be at least $3.30. This is getting nuts. I heard Monday we(KC) could be at $4.00. We(midwest) usually have the lowest prices in the country, so that's saying something.

 

[Pemolis]

Filled up my tank when it was 2.69. Now its like.. 3.20.

The difference was about 7 hour's.

1010 wins to the rescue.

Either or. If you overview gas costs.. with the profit made from oil/gas companies. You'll see they are making anywhere between 150 to 250% profit.. from last year.

The amount of demand to warrant a near 100% increase in fuel costs would have to be a Doubling of demand of gas.. within 1 year.


They are gauging the planet. And the planet has to accept it because... well we need it to survive.

Everything runs on fuel, from planes, trucks, cars, heaters, electric motors, ships, etc etc. We need it as our main source of propulsion. The dumb thing is that we never tried to use any other means.

I am just irritated. Hopefully I won't be depending on fuel and gas prices anymore. (will move into the city, sell the car, and get a motorcycle that gets 45 miles to the gallon).

 

[mindido]

cable,

"everything ti date, and within two days past the posting of this, has been purely speculative and unjustified... period.."

It appears you don't understand the definition of "demand". Let me help you out:

http://dictionary.reference.com/search?q=demand&db=*

Specifically:

1. The desire to possess a commodity or make use of a service, combined with the ability to purchase it.
2. The amount of a commodity or service that people are ready to buy for a given price: Supply should rise to meet demand.

China (the worlds most populated country) and India (the second or third most populated) are both "Westernizing" rapidly, meaning that their people are now making the kind of money we make (or made). Thus they are demanding access to the same amenities (cars, boats, lawn mowers, etc.) as we do. China alone has gone from less than a million vehicles total 10 years ago to now selling a million vehicles per year. That equation alone clearly indicates that a major part of the problem we have today is demand driven. Why do you think China is trying to buy every oil company they can get their hands on?

August 31

Took a small trip yesterday and was amazed to see how fast prices shot up. N. Illinois and S. Wisconsin are (were) uniformly $3.00 to $3.10 by late afternoon. I hear its going up another 40 to 50 cents today or tomorrow. I also saw 2 stations that were still below $3.00 ($2.94) with lines about 4 or 5 vehicles long.

And gas hit $5.87 (retail) yesterday in Atlanta with gas lines stretching for blocks.

Lastly, you guys saying we should now drill in ANWR and other areas still don't get it. We HAVE to GET AWAY from our reliance on oil (imported or domestic). Did none of you read the links in my post #94? If you haven't, please READ! The longer we stay addicted to oil, the more trouble we're in.

 

[Pemolis]

I can pretty much guarantee that gas companies will pull in about a 400% profit come the end of the fiscal year.

Over last year..

Eitherway the people in New Orleans are most important atm.

 

[mindido]

Pemolis,

Yep, they're having one heck of a good old time. Plus, the feds just gave them about $18 billion in tax breaks. One heck of an energy policy.

 

[Holey24]

You've got to love how the feds keep raising the gas prices , but yet with their fixed percentages, where does all that extra money seem to be going? And you've gotta love Kingston, ON...the only place where gas is $.20 higher then every major city within a 4 hour drive!

 

[mindido]

Holey,

The feds aren't raising gas prices. Gas prices are determined by a number of things but primarily supply and demand. The primary villians in all this are speculators, the oil companies, oil producing countries and worldwide demand. When you add in the effects of a little bit of wind, this is what you get.

 

[KABOOM]

As I was coming home the 7-11 had gas at $2.99 on one side of the sign, and the other, it was being changed to $3.19. (blows dust off bike)

 

[cableguy]

mindido, i am well aware of what demadn is, and its effect on the economy... until this hurricane, it wasnt the factor you have made it out to be... you swerved into something when you mentioned SPECULATORS... up til now, the word "speculation" has been the SOLE reason for gas prices...

regarding the strategic petroleum reserve, any oil released from it will NOT help this situation in any way beyond psychologically... there is enough crude oil, though as much of it is foreign, it is priced well beyond what domestic oil would be.. drilling in alaska, off the eastern seaboard, and in the pacific are things that should be done, but most of all, what we need are more refineries and fewer regulations pertaining to formulation... we need to get to a "one nation, one gasoline formula" policy, and stay there... neither of these are quick fixes, but both are necessary to have any chance of sustaining a reasonable price for gas and other petroleum products (such as everything plastic)

as an aside, does anyone own a late model suburban or yukon xl, or a silverado, sierra, or dodge 1500 with a crew cab that they want to sell cheap?? i am in the market for such a thing...

 

[Iceberg]

as an aside, does anyone own a late model suburban or yukon xl, or a silverado, sierra, or dodge 1500 with a crew cab that they want to sell cheap?? i am in the market for such a thing...

Now, with the high gas prices, why on Earth would you want to buy such a gas-guzzling vehicle? :nuts:

 

[Supafly]

As I was coming home the 7-11 had gas at $2.99 on one side of the sign, and the other, it was being changed to $3.19. (blows dust off bike)

Filled up yesterday at $2.66. Drove by this morning $3.60. (Is that Bicycle built for 2?)

 

[mindido]

Jeez cable,

"up til now, the word "speculation" has been the SOLE reason for gas prices... "

Speculators ARE a BIG part of this but not the SOLE reason. Please remember China and India. they are still partially third world countries but their economies are growing rapidly. EVERY analyst out there has noticed how aggressive China (especially) has become in grabbing every oil contract they can get their hands on. In effect, they are outbidding us at virtually every turn.

"there is enough crude oil, though as much of it is foreign, it is priced well beyond what domestic oil would be.. drilling in alaska, off the eastern seaboard, and in the pacific are things that should be done"

Lets see the reports showing this. Most of the reports I've seen indicate this is not the case. The assessments of ANWR are all over the map and depend on who is paying for the report. I have yet to see an assessment that can be trusted.

"but most of all, what we need are more refineries and fewer regulations pertaining to formulation..."

Have you ever been by a refinery? I have, and they are dirty, smelly, ugly and dangerous (remember Bhopal?). Most people don't want to live anywhere near one. In addition, there are many health effects related to living near one and many studies currently underway, especially in the chemical corridor between N.O. and Baton Rouge, to determine the effects. There are VERY good reasons why none have been built since the 70's.

A few other random thoughts:

According to a CNBC report this a.m. it is now cheaper to fly from NY to Miami. Based on $4.00 per gallon, which is apparently common now throughout the SE U.S, the flight is about $135 while the drive will cost about $270!

And this latest .50 to .90 price hike is known as GOUGING. People are so upset with people in N.O. that are just trying to survive but you hear virtually nothing about oil company practices. They are doing this to us because they CAN. I hope everyone is learning a lesson here.

Lastly, Bill O'Reilly came up with a very good idea last night. He suggested that everyone quit buying gas on Sundays. I would go a bit further but its a start.

Most importantly, we should all realize by now, that oil and oil companies are not our friends. We have got to do something else ASAP.

 

[Texan]

Well with the rising prices, I am glad I still have my horses.

 

[Supafly]

"there is enough crude oil"

Lets see the reports showing this.

And this latest .50 to .90 price hike is known as GOUGING. People are so upset with people in N.O. that are just trying to survive but you hear virtually nothing about oil company practices. They are doing this to us because they CAN. I hope everyine is learning a lesson here.


Most importantly, we should all realize by now, that oil and oil companies are not our friends. We have got to do something else ASAP.

You obviously watch CNBC so you’re aware that the price of crude is down significantly over the last 3 days while gas prices are through the roof. So to say there isn't any proof that supply is there is just counterintuitive. Supply goes up prices come down. Retails are responsible for a portion of the problem they're worried that if they don't hike the current prices they won't be able to afford gas in the future. But, our lack of refineries IS a major problem. That's why when the refineries that are off line now come back on, you'll see prices fall.