Gas prices

[kneifl]

Ok I know I don't frequent this forum that much but I feel I have something to say....

OK it's getting fukking ridiculous $4/gal is way too much to pay. Absolutely so fukkin ridiculous. I'm livid right now about the damn gas prices.....enough is enough!!!! I'm going to write some letters tomorrow that will go completely unnoticed. Anyway, if that sitting duck pres doesn't start to give a shit about it I'll start bad mouthing him to all of my friends. This coming from a republican, we should have been out of Iraq by now, I'm fed up with this fukkin bullshit.

kneifl

 

[saint]

I posted this in the general forum but I'll paraphrase:


I think people are misled about gas stations. They don't "choose" what to charge. They take the wholesale price they are given, they tack on the taxes and then whatever penny increase to make profit. Our refineries in the gulf are out of commision. Less gas available = higher wholesale prices = higher prices at the pumps.

The stations don't just choose to raise them.

Stations charge you for gas what they paid for it. Some stations ran out earlier than others, so when they restocked, it was at a higher wholesale price. Thus, their prices went up. Some other stations had some leftover gas in the holding cells from the lower wholesale prices, so they were able to sell it cheaper. Once they ran out and had to buy at the 3$ wholesale price, then they raised their prices.

After adding fed and state taxes, there you go. Stations don't choose when to raise them. It's dictated to them by wholesale prices, which is in essense driven but supply and demand. In this case, supply is cut and demand is still high so we feel the burden.

Unless Bush gives some out of the reserves or someone waves a magic wand over the refineries and drills in the gulf there isn't shit that's gonna happen. Some refineries are almost back up, they say prices should drop sometime next week.

 

[smurphy]

Gas won't last forever. China's consumption alone is going to make the rates climb higher.

It's over - the era of CHEAP gas is simply over. Nat'l Geogrphic had a great feature on this a couple months ago.

People will simply have to adjust. I was too good for too long, but it couldn't stay that way forever.

 

[JCDunkDogs]

The L.A. Dilemma: should I sell my SUV or keep it and get a second job?

 

[Danny Boy]

yeah they are getting expensive here in oz to we are goin up to 2 bucks a letre for christ sake as it got somethin to with the fact that oil comes from Iraq?

 

[DOGS THAT BARK]

"It's over - the era of CHEAP gas is simply over. Nat'l Geogrphic had a great feature on this a couple months ago."

Saw that also Smurph--was good episode--don't know if it was on same coverage or another but found the oil reserves in Alberta Oil sands in Canada interesting also--maybe good investing opp there--Selkirk pretty sharp on that and has done some good reads in stock forum on it.

 

[Marco]

kneifl......If you don't like Dubya now.....

Just ask the grandkids when they get to face the national credit card after Dubya gets done running it through the roof.... :mj14:

Why do I get the feeling that when all the crisis is over in the Gulf of Mexico that I'll be able to watch a glacier melt faster in the ice age than gas prices will go back down?

 

[ferdville]

Paid $3.19 for super yesterday in LA area. Heard on radio that a couple of places in Connecticut had super at over $7.00 and regular over $5.00

 

[djv]

So everyone is buying the story it's China. So in less then two years China tripled there needs. What happen did they all go and buy cars. Did they convert all there power plant from goal to fuel? No were just be handed a bunch of BS. Since the days of $1.00 gas just 6 years ago and $1.30 5 years ago. There needs have changed very little.

 

[StevieD]

Before Katrina there was no shortage. What did Cheney come up with in his secret Energy Talks? What a crock!

 

[djv]

Steve, Jay Leno had that answer couple weeks ago. How to get record profits for the oill companies.