I am happy someone else has caught on what I have been saying that are oil consumption is down this year and that was before these distators.
Station A, Station B, Station C...
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What?!? In the NW corner of Atlanta, where I find myself working these days, the price of fuel has gone up $0.30 per gallon in the last week.quote:
Originally posted by fuel tanker man:
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Fuel prices are still falling, and by mid next week we should see no less than a 50 cent drop per gallon at the pumps. Maybe even more.
Dan
One economic factor that's prominently under-mentioned in these discussions is the inelasticity of gasoline with respect to the law of supply and demand. In our society, people have to get around, and there's no way to avoid that. So while most of us can make some accomodations to save a little gas, mostly we're stuck buying at the price of the day when we need it. I mean gas isn't like Krispy Kreme donuts. If those doubled in price overnight, I'm sure most of us could easily push back on them. No so with fuel.
Have been ducked out for a few days (trying to work on my addiction to BITOG, ya know...
But I of course had to come back for (in the inimitable words of my mentor Rush Limbaugh) a "See I Told You So."
http://abcnews.go.com/Business/story?id=1256620&CMP=OTC-RSSFeeds0312
http://apnews.myway.com/article/20051027/D8DGL2502.html
web page
Dan
Dan,
I missed this thread the first time around, VERY informative!!
I wrote in a different thread that within 24 hours of the record-smashing profit reports, gas prices 'round here came down 40-50 cents per gallon. I noticed many station owners are still riding the price wave (in the $2.7xx price range) to maximize profits while the consumer is used to paying higher prices.
Lowest I've seen is $2.44/gal yesterday.
I want to see $1.89/gal gas by the end of the year. Seems to me, that's where the price SHOULD be with a war, Duetche Shell's reserve overstatement, China demand, and reasonable profit margins.
Of course, $1.00/gal gas would be wonderful.
I missed this thread the first time around, VERY informative!!
I wrote in a different thread that within 24 hours of the record-smashing profit reports, gas prices 'round here came down 40-50 cents per gallon. I noticed many station owners are still riding the price wave (in the $2.7xx price range) to maximize profits while the consumer is used to paying higher prices.
Lowest I've seen is $2.44/gal yesterday.
I want to see $1.89/gal gas by the end of the year. Seems to me, that's where the price SHOULD be with a war, Duetche Shell's reserve overstatement, China demand, and reasonable profit margins.
Of course, $1.00/gal gas would be wonderful.
Down to $2.21 here at most stations. Of course you still have the SOB's in the middle of nowhere charging over $3.00 even today....
I don't expect the masses to listen, but there is one thing I do just to satisfy myself. I refuse to use the gas station as a convenience store. I will not buy cigarettes-pop-beer-candy-doughnuts-or anything else there. There are too many other places selling convenience items that deserve a profit on these items more than the oil companies do. I really believe that after a gas price increase, the neighborhood stations begin to lower their prices a penny or two here and there because they are fighting to get back the inside sales they are losing after the price increase. That's my $.02, FWIW.
fine, but you won't hurt the big bad oil company at all. The convenience store part most likely isn't owned by the big bad oil company. It leases the space to mom and pop who have the store and get a management fee for running the gas part for the big bad oil company.
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