TGIF. Gas Prices

[charlier180]

Part of the reason for differences in the price of gasoline in different areas might be the following:

http://www.api.org/statistics/fueltaxes/upload/2008_159_GAS_MAP_JULY_34421.pdf

http://www.api.org/statistics/fueltaxes/index.cfm

 

[Jeff Kleb]

Gasoline jumped twenty cents in one day at the Wawa near my home. It was $3.39 last night and is $3.59 this evening. According to the local news media, fuel prices are spiking because of anticipated hurricane-related problems at the US refineries along the Gulf of Mexico.

What crappy situation. Just when prices had fallen slightly, we get biatch-slapped again.
:bash:

This is obviously a price surge caused by speculation, of course, as the fuel in the station's tanks has already been purchased at a lower wholesale price. It stands to reason that they should not raise their prices until their new product (which costs more) would arrive. I suppose they did it based upon "reports" that shortages may occur.


It sure seems as though prices rise much faster than they fall, huh?



P.S. I am glad that I filled up the Mustang last night.

 

[toto]

I saw a $0.25 increase from last night to tonight in the Chicago 'burbs. Went from $3.89 last night to $3.99 this morning to $4.15 this evening.

CNN is saying that almost 25% of the total U.S. refining capacity is offline right now.

 

[Uneek]

It's a complete bunch of bull. Always based on a "what if" excuse and prices go up. And when the "what if" doesn't happen, prices are not going to drop either. I heard in some places it's over $5/gallon on the news. I'm expecting to pay $5/gallon this time next year.

 

[Jeff Kleb]

Where it goes is anybody's guess, but I suppose that the price will fall again soon - natural disasters or military conflicts notwithstanding.

The recent spikes in price were largely driven by speculation and increased worldwide demand for crude oil. Yesterday's hike was caused by temporary refinery cutbacks. Despite crude dipping to below $100 per barrel, cheaper oil doesn't do squat for us if we require refined petroleum products and our refineries are off-line for any reason. (A large percentage of our refineries are in the Gulf of Mexico coastal region.)

If this is not a "wake up call" for the USA to increase our refining capacity AND drilling abilities, I don't know what is. The GOP has a potential windfall issue here, but I don't think they are going to capitalize on it as they should. Heck, even some of the Democrats are jumping on the "Drill Here - Drill Now" bandwagon.

Damn politicians!!
:bash:

 

[GregGimbert]

Thursday night 3.66, Friday morning 4.05. Blamed on closed shipping laned in the gulf of mexico and that is how Florida supposedly gets it's fuel... Ya. PS - They ask some places, others pre programmed , to only give 10 gallons at a time.

 

[alaskaman]

Holding steady in Sactown. $3.59

 

[Bren583]

$3.49 yesterday for 87 octane here in Eastern Pennsylvania.

3.29 today in the Quakertown area...

 

[alaskaman]

stations which were $3.65 are now $3.75 but gas can be found for $3.59 in Sactown

 

[charlier180]

$3.49 yesterday for 87 octane here in Eastern Pennsylvania.

3.29 today in the Quakertown area...

Since I posted the $3.49 price back on 09/09/08, the price went down to $3.45.
Then after hurricane Ike hit Texas the price went as high as $3.63. Now the price has stabilized at $3.59.

 

[alaskaman]

........if AIG goes belly up alot could change not only with gas but with every little thing. one of the economists said that would be an "extinction event". I mean gosh, Merrill and the other player survived the great depression....gas may be the last thing to worry about......

 

[dingo]

Happy Friday! $3.71 this morning at Alemany Blvd., SF off 280 South. I also picked up one of those little Chevron cartoon cars for my daughter.

 

[Jeff Kleb]

$3.51 for Unleaded 87 at an off-brand station in the Chester, VA area. Way to go!

Diesel was down to $3.79 at Wilco -- which is nice for those of us who are employed in the trucking business.

:awais: