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Gas prices raising 30 cents/gallon TOMORROW!
- Thread starter Hawgleg44
- Start date
Chris
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Hawgleg44 said:
The one thing I don't get is this...
You hear about some disruption and suddenly prices jump at the pump. But, Middle East oil takes like 6-8 weeks to arrive by tanker, another few weeks to refine, and then more to transport to your local station. Even if the oil was more local like Canada, you are still talking weeks between World events and the product reaching your local station. So why do prices jump up so fast?
Likewise, why does it then take weeks for the prices to start to fall again?
It it all pure profiteering, or is there some economic issues that the average market pressures don't work the way we think they should?
Oh and thanks everyone for those "Oil Peak Myth" websites. Damn, the debate on gun control is easy, the other side obviously lies. This oil thing is a lot harder. The lies are all maked by tons of plausable science.
Man, I've been saying that. And even if that was the case. The gas that's in the tanks have already been paid for at that price.
So how did the gas that's already in the ground just become more expensive.
I mean, I know that the profit margin for the owner of the station is only like 2-3 cents per gallon. But hell, I hate when they just up the price for really no reason.
So how did the gas that's already in the ground just become more expensive.
I mean, I know that the profit margin for the owner of the station is only like 2-3 cents per gallon. But hell, I hate when they just up the price for really no reason.
dwarven1
Lonely Mountain Arms
$2.779/gal in Marlboro. *wince* $35 for a full tank in my Subaru... and to add insult to injury, their damned new pump didn't shut off when it should have and spurted gas over my car and tire.
And Chris? I think that while the polite phrase is "profiteering", I believe that what it actually is called is "screwing the customer". Why? Because they can get away with it. They announce "crude oil prices are up" and because the average guy at the pump doesn't think about how long it takes to get from the ground in Iraq to his gas station... the gas companies get away with outrageous profits.
Wonder why our oh-so-protective-of-the-consumer AG doesn't go after Texaco/Mobil/etc?
Ross
And Chris? I think that while the polite phrase is "profiteering", I believe that what it actually is called is "screwing the customer". Why? Because they can get away with it. They announce "crude oil prices are up" and because the average guy at the pump doesn't think about how long it takes to get from the ground in Iraq to his gas station... the gas companies get away with outrageous profits.
Wonder why our oh-so-protective-of-the-consumer AG doesn't go after Texaco/Mobil/etc?
Ross
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dwarven1 said:
The AG (US and state) DOES go after the gas companies . . . but ONLY AFTER they rape the customers. They levy huge fines against the companies and make claims that since nobody knows who overpaid, the gov't gets to keep the money.
The gov't is just as bad as the oil companies! They collect the taxes on the oil/gas/fuel plus the income taxes, then fine the companies and collect more money from them. What does the consumer get? Screwed and not even enough spare pocket change left over to buy Vaseline!
[evil]
Glenn just filled up in Northampton $2.99 a gallon. [shock] They were 2.54 a gallon.
Wildweasel
NES Member
MrsWildweasel said:
They where 2.54 this AM! they where 2.44 over the weekend.
Thank god for fuel economy! Only a 20.00 fillup. (normally 17.00)
It's why he has a small car that gets 30mpg. [lol] [lol]
Yup,that's the station.
Just went by the station by my house. Filled up Monday night at $2.68 for mid grade. Cheap stuff was $2.53. Went by this morning, the sign says $2.89 for cheap stuff. And they say that it's not stopping.
And I was talking to someone in the market last night. They said that Gas IS treated like a commodity. The oil companies treat them like futures. So it's the replacement cost that we're paying for once the gas is in the tanks.
Still think that it's sucks, but they said that we do the same thing for pork bellies. Doesn't mean that I have to like it. I buy more gas than I do bacon.
And I was talking to someone in the market last night. They said that Gas IS treated like a commodity. The oil companies treat them like futures. So it's the replacement cost that we're paying for once the gas is in the tanks.
Still think that it's sucks, but they said that we do the same thing for pork bellies. Doesn't mean that I have to like it. I buy more gas than I do bacon.
Just think with Labor Day weekend upon us they will raise it even more.
Glenn and I were saying last night,we didn't even pay these kind of prices when we were stationed over seas, but then that was 20 plus years ago too.
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Ross, of course it is profiteering and nobody will do anything about it that matters to the common citizen. When it's all over there will be a multi-year, mega-millions investigation by the Feds, massive fines to the oil companies and no relief to the little guys/gals!
The stations near me were "normal" yesterday (mostly $2.559-2599), at least thru ~3PM with no increases visible and no lines. One exception was a Mobile next to my credit union. Monday they were $2.599, no lines and I filled up another gas can (mower/snowblower) rather than waiting until it is $5.00/gal this Winter. Yesterday ~5:30PM the same station was $2.679 and there was a line out on the street! Why the sheeple waited until the increase instead of gassing up the day before baffles me!
I don't expect the prices to drop below $3/gal for years, if ever! I also expect we'll see close to $4/gal gas before the year is out. This was just a great excuse for a further screwing and more price gouging/profiteering by big oil companies.
The stations near me were "normal" yesterday (mostly $2.559-2599), at least thru ~3PM with no increases visible and no lines. One exception was a Mobile next to my credit union. Monday they were $2.599, no lines and I filled up another gas can (mower/snowblower) rather than waiting until it is $5.00/gal this Winter. Yesterday ~5:30PM the same station was $2.679 and there was a line out on the street! Why the sheeple waited until the increase instead of gassing up the day before baffles me!
I don't expect the prices to drop below $3/gal for years, if ever! I also expect we'll see close to $4/gal gas before the year is out. This was just a great excuse for a further screwing and more price gouging/profiteering by big oil companies.
Ok, despite what peopel think, gas WONT get cheaper til we have new refineries to convert the oil to its by-products. The Gov' can release all of the oil in the reserves and it wont help because as it is right now refineries are pumping out their max barrels/day or more.
Now with the hurricane in the south, where there are a few refineries, our already taxed refining industry just got worse.
The price of oil is a commodity and thus traded freely on the NYSE. If you want to blame anyone for the price of oil, blame those on Wall Street for artificially making a commodity seem scarce when its not (oil production of barrells/day has gone up, not down.)
In time, the market will correct itself and there will be a ton of people will lose a ton of money. In the meantime, there is a ton of people who are making a ton of money by fueling undue paranoia. The price increase in gas can be directly associated to the goings on in the Middle East and the investors feeling that the supply of oil is going to become scarce. The idiot investors thought that Iraq's oil output would become obselesent. In truth, due to the cease fire and the state of the oil production in Iraq, they were are not major exporters. They just show up as a blip.
So if you want cheaper gas, just start writing to our Fed. Reps in DC stating you want newer refineries to help offset the rising cost of gas due to insufficient production.
Sorry for the little rant, but need to let you know more about all the little things behind the barrels of oil.
-Brian
Now with the hurricane in the south, where there are a few refineries, our already taxed refining industry just got worse.
The price of oil is a commodity and thus traded freely on the NYSE. If you want to blame anyone for the price of oil, blame those on Wall Street for artificially making a commodity seem scarce when its not (oil production of barrells/day has gone up, not down.)
In time, the market will correct itself and there will be a ton of people will lose a ton of money. In the meantime, there is a ton of people who are making a ton of money by fueling undue paranoia. The price increase in gas can be directly associated to the goings on in the Middle East and the investors feeling that the supply of oil is going to become scarce. The idiot investors thought that Iraq's oil output would become obselesent. In truth, due to the cease fire and the state of the oil production in Iraq, they were are not major exporters. They just show up as a blip.
So if you want cheaper gas, just start writing to our Fed. Reps in DC stating you want newer refineries to help offset the rising cost of gas due to insufficient production.
Sorry for the little rant, but need to let you know more about all the little things behind the barrels of oil.
-Brian
Okay...this is ridiculas. Remember the station I said was now up to $2.75 as of 2PM (or there about's) this afternoon? I just went over to the market to get something and it's now $2.89.
It probably is price gouging, however, another thought occured to me. If they don't all raise their prices, then the ones who don't will have major gas lines because they're cheaper. Ergo, they'll have to order another dump sooner. Sooner or later, they will have to up their prices big time because at some point, they will be paying a lot more for it. I'd gripe louder if all of a sudden it went from $2.54 to $3.25 over night... although...from the looks of things, it's heading in that direction now within a matter of 3 days... [roll]
It probably is price gouging, however, another thought occured to me. If they don't all raise their prices, then the ones who don't will have major gas lines because they're cheaper. Ergo, they'll have to order another dump sooner. Sooner or later, they will have to up their prices big time because at some point, they will be paying a lot more for it. I'd gripe louder if all of a sudden it went from $2.54 to $3.25 over night... although...from the looks of things, it's heading in that direction now within a matter of 3 days... [roll]
