i hate gas!!!!!!!!!!!!!!!!!!!!!!!!!!!!! i shoulda filled up before the storm dammit

 

I read they shut the gas line down from Houston to New York to be on the safe side. That could have an effect on the price. I filled up today here and it was up a bit, around $1.38/litre regular, $1.50/litre for 93.

 

I'm in Atlanta, definately should have filled up last Weds. It was around $3.65 for mid grade and now is around $4.15-$4.30. This sucks.

 

Just filled up tonight (in the western suburbs of Philly) and it was $3.93 for 91 octane which is slightly higher than it was last week but not a lot. Apparently this area hasn't gone up as much as the national average has (according to the local news). That is, at least not yet.

 

Filled up yesterday (saturday afternoon) at costco in durham... about $4.05 for premium, nice no storm surcharge. Apparently there was no gas in raleigh and cary that afternoon.

 

the price of crude skyrocketed today to almost 130 a barrel at one point.. buy gas today. even though its supposed to be futures, you know gas pumps are gonna raise prices much sooner than the 3 weeks its supposed to take a crude rise to hit the pumps

 

dude, i say we park a tanker in iraq, tell those ****ers to fix their own dam problems with their own $ and we will take a few boat loads of oil as payment for fixing their busted government.

 

do you know why gas prices rise? it's not because oil refineries get shut down or because there is a huge hurricane. it's when people say to one another, "go fill up tonight because it'll be $$$$ tomorrow."

word of mouth spreads like a forest fire on a dry day in california when people don't evaluate for themselves but believe everything they hear. the supply goes down from everyone freaking out, demand goes up, prices goes up...didn't you guys learn anything from economics?

ask any economist, this crap happens every year and it won't stop because ppl just believe everything they hear...fill up like you normally do and things would go back to normal if everyone wouldn't treat this situation as something special or out-of-the-ordinary...goddamn

 

i would have to agree, supply/demand is a major cause.
the sky IS falling,

i laf when i see a huge *** line at a pump because its 10 cents cheaper then the other pump down the street,
the dum ****s get a hard on because they are saving 10 cents a gallon,

if they thought about it , 10 cents times 20 gallons is 2 bucks.
and while they are still sitting in the line for 1/2 an hour, im on my way to work.

some people just make me feel better about my self.

 

Very true, and it irritates the hell outta me. The day before Ike hit I probably got 50 text messages about gas going up $1.50+ People in this area feed off mass hysteria. If we get snow flurries in a weather forecast you can't find bread or milk for a week!

I gotta say gas stations around here are really pissing me off this time though. I just spent the weekend in Knoxville, and every gas station was hovering around the $3.60 mark for premium gas and nobody was out. I get back home to Chattanooga, and finally found some premium gas at the 8th station I drove by for $4.19! The first 7 had only 89 octane and 4 were completely out of everything.

There is no way in hell it's THAT much easier for stations to get gas an hour up the interstate.

 

If you really look into the problem, it's not supply and demand. AAA has stated several times that Americans have driven BILLIONS (yes BILLIONS) of fewer miles this past year than in year's past BECAUSE of skyrocketing gas prices. The demand therefore is WAY down. However, the price keeps rising. That COMPLETELY goes against the entire macro-economic philosophy of supply/demand in a free market economy.

Think about it this way, Oil peaked at $147.XX a barrel back in July and at that time, the highest gas went for here in San Antonio was $3.92 for 87 (regular). Since then (before today), oil had fallen to a low of $90.XX a barrel (~39%) yet gas only got to a low of $3.47 (~12% drop). Now, it's not just oil that matters, it's the refining process as well as delivery and then you have to factor in the biggest problem of them all...OIL SPECULATION! Oil Speculators today DROVE the price of Oil through the roof because they were worried about the government bail out of the economy and thus the dollar tanked and the investors sought safe haven in oil and other commodities like gold. As long as we continue to allow oil to be traded on the open market in the way in which we do and allow oil speculators to drive up the prices without ever taking delivery (nor the intention of ever taking delivery) of oil, we'll have this problem.

Oil finally started to slowly go down from it's high of $147 a barrel in July ONLY because there was fear or a GLOBAL econonmic slowdown as evidenced by the global demand of oil falling. Yet the price of gas didn't follow lock-step and now you can expect it to jump yet again. Everyone running to the pump can have an adverse affect, however, the price of gas will immediately be set by speculation more than anything else.

 

i filled up last time i saw one of these threads and then gas went down 6 cents haha

 

Unfortunately, gas doesn't work on supply/demand. The "billions" of miles is only a decrease of 2-3% in our fuel consumption compared to last year. That's when prices doubled.

I think that gas prices should be decided at the pump, not by speculators on Wall Street.

That said, it is determined at the pump in some ways.

Oil prices dropped by 30% over the last few months (then back up over the last few days). Gas prices only went down 10% to about $3.65. 30% would've been around $2.70 a gallon (at $92/barrel). Sounds like we go screwed, right?

Well...... when oil JUMPED to $68/barrel (still about 50% less than current oil prices) in 2006........ gas was $3.10 per gallon (only about 20% less than now).

The math doesn't work.

 

Here's some charts to compare:

 

Looking at the charts, I'm totally confused.

Jan 08: Gas: $3.10, Oil: $100

May 07: Gas $3.20, Oil: $68

August 06: Gas $3.05, Oil: $77

Even looking at the oil prices in the few months prior to the gas prices.... it still doesn't make sense.