Post Hurricane Gas Prices

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Originally Posted By: Panzerman
It's not really the jump in price I find strange and I am sure it will go higher and living in a tourist Meca I am used to holiday/ special event spiking. What I find "Interesting" is the broad across the board 2.49. No fluctuations at all in over 20 stations. That's strange.


It's not strange, it's the point at which supply meets demand.

Ever heard of Keynes?
 
Originally Posted By: Olas
Originally Posted By: Coprolite
I assume you are referring to the wall street speculation and not the average joe gas station. The average gas station margin on gas is horrible, which is why they all have convenience stores that emphasize convenience over value for the goods sold.


Originally Posted By: Olas
The aim of running a business is to generate profit, which is exactly what's happening here.
Why the concern?


The location and ownership of the gas station is immaterial - price is set where supply meets demand, hence the current pricing. (which also boots their 'horrible' margins)


No price is set where the Oil Companies decide it will be and no lower.
When was the last time you saw a gas war. It must have been in the early 60's.
 
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Originally Posted By: JohnnyJohnson
Originally Posted By: Olas
Originally Posted By: Coprolite
I assume you are referring to the wall street speculation and not the average joe gas station. The average gas station margin on gas is horrible, which is why they all have convenience stores that emphasize convenience over value for the goods sold.


Originally Posted By: Olas
The aim of running a business is to generate profit, which is exactly what's happening here.
Why the concern?


The location and ownership of the gas station is immaterial - price is set where supply meets demand, hence the current pricing. (which also boots their 'horrible' margins)


No price is set where the Oil Companies decide it will be and no lower.
When was the last time you saw a gas war. It must have been in the early 60's.


Do mom & pop who own the local gas station have heir retail price dictated to them? No.
They buy at a set price from the refinery and they charge what they want to generate a profit margin they feel is sustainable.

Oil Companies set retail prices at stations they OWN, but not at stations they don't own.
 
Stopped to get my car washed last night and noticed that 93 had jumped 30 cents a gallon since I stopped there last Sunday, and I also noticed that the place was really jumping considering the hour...no lines, but not many open hoses at any given time and a really steady stream in and out.
I was already planning to stop for some overpriced convenience items for work today, and I ended up topping off before going in the store. I also was thinking about how I'm going to pick my daughter up from college for a quick trip home this weekend and didn't want gas availability on my mind for that, no matter how far off that prospect is in my area at the moment.

Yes, I'm part of the panicky mass...

BTW, I stopped in a convenience store by work for some really unhealthy food after hitting the gym a couple days ago and saw a guy in front of me paying $12 for body wash. I was shocked, but I guess I could have also made equivalents to the sandwiches that cost me $6-7 for under a buck if I bought the components at a grocery. Convenience...I think it's likely the guy didn't have a car to drive to WalMart or wherever.
 
I guess I just don't understand why prices go up nationwide. Is this really necessary?
 
$2.65 this morning here in NE PA. $3.25 for Premium. up 25c in 2 days (on the premium).
 
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Here in northeast PA we jumped up .16 in the past 4 days to 2.799. They've been raising it 4 cents a day.

I'm kinda "lucky" in the sense that I pass NJ on my commute to NY where it's .30 a gallon cheaper.

I also have the Shell Fuel Rewards card which knocks off another .05 a gal.

I just got "invited" by GasBuddy to get their card which I guess will be a similar .05 off. It hasn't arrived yet so I can't comment on if it works or not. It's supposed to be at more brands than just Shell.
 
We hit $2.79 this AM- up 60 cents in one week and someone here said don't drive a gas guzzler...
Yeah very short sighted comment especially when it is getting cold here now- heating oil..... etc....
I drive a hybrid and was happy to do so when gas was cheap.
 
Originally Posted By: grampi
I guess I just don't understand why prices go up nationwide. Is this really necessary?

Even with the Harvey's produced tragedy, don't forget Labour Day Weekend is coming.....

Roads where light this morning in my area, which means all the missing people are somewhere else.....
 
Do other states have minimum markup laws like WI?

Another law here is the station is only allowed one price increase per day. I believe it went on the books after the major increases and games at the start of Iraq 2.0
 
Originally Posted By: grampi
I guess I just don't understand why prices go up nationwide. Is this really necessary?

I have tried in the past to show you how the (free) market system (through supply and demand) acts to determine prices on a local/national/global level. The mechanism is spot and futures markets. I recall I showed you where to go to educate yourself.

Guess you chose to continue to opinionate instead of learn.
frown.gif
 
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Originally Posted By: Al
Originally Posted By: grampi
I guess I just don't understand why prices go up nationwide. Is this really necessary?

I have tried in the past to show you how the (free) market system (through supply and demand) acts to determine prices on a local/national/global level. The mechanism is spot and futures markets. I recall I showed you where to go to educate yourself.

Guess you chose to continue to opinionate instead of learn.
frown.gif



Sounds like you have some learning to do. The industry doesn't operate in a free market, it operates in a cartel...the industry controls prices by controlling supply...
 
Originally Posted By: Chris142
All these prices ya'll are posting are still less than what we pay.


Yes, is there any particular reason gas prices are so high there in California?
 
Originally Posted By: plaguef
Originally Posted By: Chris142
All these prices ya'll are posting are still less than what we pay.


Yes, is there any particular reason gas prices are so high there in California?

taxes?
 
Originally Posted By: pandus13
Originally Posted By: plaguef
Originally Posted By: Chris142
All these prices ya'll are posting are still less than what we pay.


Yes, is there any particular reason gas prices are so high there in California?

taxes?


If it is taxes, then those prices have nothing to do with supply and demand, and everything to do with the government.
 
In my neck of Florida, EVERY gas station within 20 miles went to $2.49 as well. They were $2.19 to $2.29 before the storm. After the storm, EVERY station at $2.49. Weird. The always cheap stations have the same price as the always expensive stations.

I lucked out in finding a Shell station that was signed $2.49 on the big sign, but the pumps were still the old price $2.25 for some reason. With my Shell fuel rewards card (5 cents off per gallon), I was able to buy gas at the "old price"
 
Yup. $2.49 here as well. That was yesterday, who knows what it is today. We went from $2.09 to $2.49 is about 10 days.

I hope it doesn't go to $4.79 like it did during Katrina. If you could find it. Many stations ran out. Some closed and went out of business.
 
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