Strang how the run up in gas prices was so fast. Oil per barrel peaked out two weeks back. A barrel is down 10 bucks in price as of yesterday. I see my price at the pump is down 2 cents. It is funny how these stations rase there price just on rumors the price per barrel is going up. But when it drops they take for ever to give some relief.
BS Gas Prices
- Thread starter djv
- Start date
- Feb 12, 2000
- 10,652
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It would surprise me if the stations dictated the price. I worked at a service station in high school, and I know the owners made 0.10 on every gallon no matter the price. We made 0.20 on full service. These stations make most of their money on "groceries". The mark-up there is ridiculous.
dawgball I agree. Very seldom is it the little guy the owner of the corner station. It's the big boys. They got every body scared and are milking it good. That and our government could have released some of the reserves we have.
The current prices are not only from the threat of war. When the country in South America went on strike I forget which one it was but I believe they are the #3 oil supplier to the U.S. This effected the price more then anything thus far. And we have used reserves to offset the shortage and our reserves are at an alltime low currently. So prices may rise more before this is all said and done. We bitch about gas prices but it is still one of the cheapest products we consume by the gallon. How the hell is milk priced more than gasoline?
Guys:
Having the gov't release some reserves is like pissing in the ocean. It is a political act; that is all. To show that the gov't is looking out for the citizens. Releasing any oil reserves would not in any way effect gas pricing. Gas prices stay higher for a period of time because the particular station you frequent has to get rid of the gas in theie storage tanks that they paid X for. They can't lower their pricing until it is gone.
God bless out troops. It will be a quick military conflict. Do not underestimate the power of the US military. The long part will be the nation-building phase.
Having the gov't release some reserves is like pissing in the ocean. It is a political act; that is all. To show that the gov't is looking out for the citizens. Releasing any oil reserves would not in any way effect gas pricing. Gas prices stay higher for a period of time because the particular station you frequent has to get rid of the gas in theie storage tanks that they paid X for. They can't lower their pricing until it is gone.
God bless out troops. It will be a quick military conflict. Do not underestimate the power of the US military. The long part will be the nation-building phase.
All Im saying they raise the prices just on rumors. Once there they holdem up even when prices are droppping for a barrel. How about that Iraq that place that pisses us off. We buy oil from them.
Since the crisis in Venezuela the amount of oil purchased from Iraq has gone up drastically. Now I can't quote the exact source of this info but I read somewhere that the US is now, again since the Venezuela problem, one of Iraq's biggest customers for oil.
Someone making a killing. Forsure out in your liberal state. I cant believe $2.25. Rebulicans makeing Calf pay now.
California is stuck with higher gas prices because we are forced to use some concotion of corn product in our gas. It supposedly cleans the air but ruins the water table. Our stellar Gov. Davis, without a doubt the most crooked politician in the world, has asked Bush to exempt us from using this stuff that adds about a quarter a gallon. Bush said nay. Word is that "W" has some cozy arrangements with huge corn growers and this little e.p.a. gimmick puts big bucks in their pockets. I don't think "W" is too fond of California anyway - Dems have a way the the state, so he is sticking it to us. Paid 215.9 for gegular unleaded today - hve seen it as high as 225.9 and above.
ferdville you are right your taking a screwing. Redsfann can say if thisis correct or not. But Iowa im just acrosse the border from them. They use same blend as you do in Calf. Iowa was $1.69 yesterday.
I despise the oil companies as much as anyone, but the skyrocketing price we pay at the pump (now $2 per gallon in Las Vegas) is determined by global market forces -- and more specifically SPECULATION. The prices we are paying now reflect the price of oil futures in the global market (which were purchased by speculators 3 months ago, 6 months ago, or whatever was the term of the "future").
The US actually gets very little of its oil from Iraq (I'm not sure of the number, but it's insignificant). Europe is much more dependent on Middle Eastern (and Iraqi) oil than we are in the US (one of the many reasons for their objections to the war, in general).
One thing that markets do not like is INDECISION. When an issue is open to question -- such as the if and when suppositions of an invasion -- peole (and speculators) panic. That means the price goes up.
As it became obvious Iraq would be invaded -- spculators drove up the price of oil (more demand to buy futures resulting in increasing prices). When the futures come to fruition, we are now seeing the ramifications of that panic -- which is high gas prices.
Never mind that the production of Iraqi oil may have dropped off in recent months. That has very little to do with the price of oil on the global market, since it simply means other oil exporting nations can increase production (and make more money).
-- Nolan Dalla
The US actually gets very little of its oil from Iraq (I'm not sure of the number, but it's insignificant). Europe is much more dependent on Middle Eastern (and Iraqi) oil than we are in the US (one of the many reasons for their objections to the war, in general).
One thing that markets do not like is INDECISION. When an issue is open to question -- such as the if and when suppositions of an invasion -- peole (and speculators) panic. That means the price goes up.
As it became obvious Iraq would be invaded -- spculators drove up the price of oil (more demand to buy futures resulting in increasing prices). When the futures come to fruition, we are now seeing the ramifications of that panic -- which is high gas prices.
Never mind that the production of Iraqi oil may have dropped off in recent months. That has very little to do with the price of oil on the global market, since it simply means other oil exporting nations can increase production (and make more money).
-- Nolan Dalla
Nolan you have some good points. Since Bush 43 more or less 12 days ago let it be knowen war was a done deal. Barrel of oil has dropped $10.00. And Saudi has increased production to off set any loss from lraq.
Im so proud of my service station owner. He dropped price today 8 cents. I shook his hand. He called me a smart ass. I thanked him for that to. I said that is first time you ever did that. You may make afew new friends.
