Gas Prices Are Going Up

[nicholas]

Pipelines
I live in Georgia
All the gas from Texas is pumped through a massive pipeline system
With thousands of huge tank storage
Millions of gallons in storage
As soon as the cold happen in Texas
Prices started climbing !!!!!

Makes sense to me.......
Don't know why anyone would think a winter even in Texas, which killed some people, should cause a rise in prices

 

[dlundblad]

Our new administration wants us to be energy independent as well. I’m sure that isn’t helping.

I meant dependent. *auto correct and not enough coffee.

 

[PimTac]

More than a cold snap. Did you see the pictures of the trucks jackknifed all over the ice covered roads or read about all power outages? Can't refine oil into gasoline without power, and can't ship gas without passable roads.

It did thaw.

 

[M56959]

Political commentary will get this locked and may result in time away if I have to remove anymore posts.

Thank you to the majority of members who are following the very
simple rules we all agreed to upon joining.

 

[atikovi]

It did thaw.

It takes longer to recover capacity than the time it takes for the ice to melt. Think of the last major hurricane.

 

[Snagglefoot]

Pipelines
I live in Georgia
All the gas from Texas is pumped through a massive pipeline system
With thousands of huge tank storage
Millions of gallons in storage
As soon as the cold happen in Texas
Prices started climbing !!!!!

Hello People. Your gasoline is priced by the Chicago Mercantile Exchange, then it is adjusted to reflect pipeline costs, truck delivery, dealer markup, and State Taxes. The price this morning was $1.9579. Refineries take the price. They do not set it.

 

[kstanf150]

Hello People. Your gasoline is priced by the Chicago Mercantile Exchange, then it is adjusted to reflect pipeline costs, truck delivery, dealer markup, and State Taxes. The price this morning was $1.9579. Refineries take the price. They do not set it.

View attachment 47457

Not what I was talking about

 

[Snagglefoot]

Not what I was talking about

I understand, but the pricing is out of Chicago and changes daily. Sure there is lots of gas in the pipeline and lots of crude oil in storage. It’s all in the minds of the traders. Traders got to trade.

 

[odie]

Summer gas adds close to 15 cents . It's usually available mid May . Expect $2.85 > $3 a gallon . Hope to be wrong .

 

[MetalSlug]

Just fill out another $75 gas today . Another normal day lol . Even if it go up to $5 . I still have to buy it .

 

[odie]

'18 ACCENT gets 39 m.p.g. calculated and the FIT 36 m.p.g. calculated since they were new . 10.6 gallon tank for FIT and 11.9 (?) gallons for ACCENT . No payments .

 

[kstanf150]

Just fill out another $75 gas today . Another normal day lol . Even if it go up to $5 . I still have to buy it .

And your in Texas.......Gasoline Capital of the World !!!
87 Octane in the southeast US is predicted to go past $3 bucks a gallon soon

 

[grampi]

Why are gas prices high? I think it was going to happen once people started driving again and heading back to work. And OPEC getting absolutely crushed last year because of the pandemic has caused them not to produce more oil - in fear they will be stuck again if another surge hits - now we have a supply and demand problem. And it doesn’t help that 11 oil refineries shut down in Texas because of the storm.

From what I’ve read, this will probably last throughout spring and into the fall, until it’s proven that everyone/everything will be back up and running like it was before.

That's just it. Things will never be like they were before. MANY BUSINESSES CLOSED FOR GOOD. Many people permanently lost their jobs. The economy will take years to recover, if it ever does. Demand is nowhere near where it was before the pandemic. Demand is low, it's just that the industry has strangled off supply to drive up prices (partly because of the power outage in TX, and partly just because they can). They'll go up for a while, but the slow economy won't support high prices for long. Demand will go back down even further, bringing prices back down, though probably not as low as they had been when they were under $2...

 

[4WD]

There are no fewer folks at the gas pumps where I live …
endless flow of cars/LT’s and places building new car washes at existing stores etc …
Of course gas hogs sold well for a long period … and guess what they always need …

 

[ARB1977]

Complain all we want. Still need to get from A to B.

 

[Snagglefoot]

Top countries for gasoline production. USA is first at almost 9 million bbls per day. Enjoy the colourful flags.

 

[Snagglefoot]

Gasoline is priced by the Chicago Mercantile Exchange, then it is adjusted to reflect pipeline costs, truck delivery, dealer markup, and State Taxes.

View attachment 47457

Here is a bit more on gasoline trading and an explanation on what RBOB is. Enjoy.

 

[odie]

Oil and RBOB rising as we post .

 

[doitmyself]

What is the point of this thread? Gas prices have fluctuated for decades, sometimes because someone sneezed overseas. Sometimes they fluctate at the possibility of a hurricane, before it hits (and even if it fizzles). This really seems to be one of those "old man yelling at clouds" topics.

It's a very dynamic market and always will be. It has never made sense and it never will. Accept and move on. If you don't like it, there are alternative choices.

 

[Snagglefoot]

What is the point of this thread? Gas prices have fluctuated for decades, sometimes because someone sneezed overseas. Sometimes they fluctate at the possibility of a hurricane, before it hits (and even if it fizzles). This really seems to be one of those "old man yelling at clouds" topics.

It's a very dynamic market and always will be. It has never made sense and it never will. Accept and move on. If you don't like it, there are alternative choices.

I’ll bite. Did you know what RBOB was before you read this thread?