Dang Gas Prices

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Gas was holding at around $1.22-$1.26/L for the past couple of weeks, while oil prices have stayed below $90/bbl.

Then, this morning, with no corresponding jump in oil prices, gas jumped to $1.30/L this AM!

Gas prices don't follow ANY logical pattern anymore.....
 
Originally Posted By: HTSS_TR
Price went up 20 cents in about a week, from $3.69 to $3.89.

I'm in northern San Diego county and most prices here are just under 4.00 a gallon.
frown.gif
 
It has gone up again here today. According to gasbuddy.com, my local Marathon is now $3.54, Sunoco is $3.52 and 7-11 is $3.49. I guess if someone sneezes on the Wall Street trading floor tomorrow morning the price will go up another 5 cents. Or ten. Or a quarter...

Speculattion should be outlawed. Period.
 
Paid $3.11 @ at a Marathon tonight. Several stations in Ohio are < than $3. Catching a minor break for the last couple of days.
 
Gasbuddy today says it is now $3.58 at my local Marathon and Sunoco stations and $3.53 at 7-11. Racetrac is also $3.53 and it is usually the cheapest in town.

Get ready for $4.00 and beyond, it is coming real soon....
 
Originally Posted By: Jimmy9190
Gasbuddy today says it is now $3.58 at my local Marathon and Sunoco stations and $3.53 at 7-11. Racetrac is also $3.53 and it is usually the cheapest in town.

Get ready for $4.00 and beyond, it is coming real soon....



Ummmm.....yep.


I'd aim for 5 though....
 
$3.64 for regular 87 at Marathon today. It went up 6 cents overnight, it had been $3.58 for a few days. $3.58 at Sunoco and $3.59 at 7-11. Sunoco and 7-11 will probably increase tomorrow.

The oil and gas industry is idling their refineries to keep prices high even though consumption is down. It sure must be nice to be able to manipulate the supplies and guarantee yourself a profit like that.
 
Originally Posted By: Jimmy9190
The oil and gas industry is idling their refineries to keep prices high even though consumption is down. It sure must be nice to be able to manipulate the supplies and guarantee yourself a profit like that.

Blend change and maintenance work at refineries across the country.

Quote:
...refineries are in a difficult spot because they have to produce a 'summer blend' gasoline, and at the same time they also have some scheduled maintenance issues. You also have aging infrastructure, so the refineries have unscheduled maintenance before they can ramp up and produce a 'summer blend.'
 
Here are a few articles about the refineries closing down. Part of the reason is decreased demand for gasoline and oil products, part of it is political, part of it is due to labor and union disputes, part of it may be due to the switch to summer grade fuel but it is still early for that, IMHO. The bottom line is we are not using as much gas as before. Crude oil prices are sky high and will go even higher as the year progresses. Refineries can not turn a profit with the demand for gas being so low but the price of a barrell of crude so high, and the result is the refineries close down.

The other bottom line here is the oil industry will use any means they feel is necessary to keep their prices and profits where they want them. Even with the current world economic situation and trouble in Iran and other parts of the Middle East and Africa, gas prices would not be as high as they are (now and in the future) were it not for speculation on Wall Street and other markets around the world and the oil industry's manipulation of oil prices. Things would be very different at the pumps if the speculators had to actually take delivery of the oil they buy. It is all about greed and profit. Period.

http://www.bloomberg.com/news/2012-02-09...loyment-1-.html

http://www.sacbee.com/2012/02/07/4246229/usw-philly-oil-refinery-leaders.html

http://www.presstv.ir/detail/224588.html

http://abarrelfull.wikidot.com/blog:why-are-refineries-closing-down

http://articles.philly.com/2012-01-15/bu...fining-capacity
 
Originally Posted By: Jimmy9190
The other bottom line here is the oil industry will use any means they feel is necessary to keep their prices and profits where they want them.

U.S. Federal Trade Commission Investigates Rising Gasoline Prices

Quote:
WASHINGTON—The U.S. Federal Trade Commission, one of the federal agencies involved in the Obama administration's new investigation of rising gasoline prices, determined just a few days before being named part of the investigation that prices are going up because of normal market forces.

The FTC's findings run counter to the Obama administration's recent effort to suggest that price manipulation, fraud and collusion could be driving spikes in gas prices.


But there are 'others' outside the control of the U.S. oil industry who do manipulate oil prices. You will find them HERE.

56.gif
 
Every time gas prices go up and stay up for a while, the Feds have an "investigation". They never find anything and you never hear anything else about it.

I have given up on any agency being able to do anything about gas prices. Gas prices are governed by the oil industry. I am at the mercy of the oil industry. All I can really do is pray for peace in the Middle East, hope the economy here at home and abroad gets better very soon and hope that the specfulators on Wall Street, in Chicago, Dubai and other markets worldwide will back off on the false inflation of gas and oil prices some time soon. I also hope we can have intelligent and honest leadership here in the USA, not people who are in bed with the oil industry.

I am reading a very good book about the oil industry right now. It is beyond shocking what the oil companies have done over the years to ensure their supply and profits. It is even more shocking that they got away with it in the past and they continue to get away with it now.
 
Converting euros to dollars and liters to gallons gas costs $8,24/gallon here in Finland, give or take a few cents. Not happy at all...
 
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