gas prices.

gas prices.

View related threads: (in this forum | in all forums)

Logged in as: Guest

Users viewing this topic: none

Printable Version

All Forums >> [Pennsylvania Boards] >> Off Topic Discussions - Pennsylvania >> gas prices.

Page: [1]

Message

<< Older Topic Newer Topic >>

gas prices. - 9/17/2008 10:29:27 AM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

the last time oil hit 100 bucks a barrel, according to a buddy of mine, has prices were 2.60 a gallon. today, oil is at 91.15 a barrel and gas is 3.89. given the fact that we have hurricanes in the gulf each year, what is driving the price up?

_____________________________

silence means consent

..."Old men start wars...young men die in them."

Post #: 1

RE: gas prices. - 9/17/2008 10:46:03 AM

D-nymph

Posts: 2105
Joined: 9/19/2001
Status: online

quote:

ORIGINAL: rapala11
given the fact that we have hurricanes in the gulf each year, what is driving the price up?

Competition with nations, China and India especially. Increasing demand raises prices.

(in reply to rapala11)

Post #: 2

RE: gas prices. - 9/17/2008 10:53:55 AM

Cold

Posts: 681
Joined: 3/27/2008
From: Latrobe, PA
Status: online

Greed? The simple fact that they know they can get that price? On one hand, I cant wait for the day that we see fuel cells in cars that run on water, on the other hand, I know that on that day, two things will happen: (1) The price of water will jump to $5/gal (the water companies will bribe the fuel cell manufacturers into making cells that need a specific kind of water to run, and only they will sell it), and (2) the gov't will kick in a few trillion to bail out failing oil companies, robbing us of sweet revenge.

(in reply to D-nymph)

Post #: 3

RE: gas prices. - 9/17/2008 10:56:28 AM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

quote:

ORIGINAL: D-nymph

quote:

ORIGINAL: rapala11
given the fact that we have hurricanes in the gulf each year, what is driving the price up?

Competition with nations, China and India especially. Increasing demand raises prices.

but this was only a year ago. even though china and india have greatly increased their usage, it has been happening over the last five years.

_____________________________

silence means consent

..."Old men start wars...young men die in them."

(in reply to D-nymph)

Post #: 4

RE: gas prices. - 9/17/2008 12:15:12 PM

eyesandgillz

Posts: 682
Joined: 6/18/2003
Status: offline

Useage has actually been decreasing, especially in the US. The price you are paying at the pump today is reflected in the Futures prices of a month or more ago. Also, refiners in the US were actually losing money on gas for a good while now as they had not passed on all their increases to the public. The crude producers were reaping the benefits of higher crude, not the refiners. Now, with crude falling, refiners will most likely try to hold onto higher prices as long as possible to recoup some of their losses. Additionally, almost 20% of the US refining capacity was shut in because of Ike. You don't just flip a switch to start refining crude again and that is after you fix all the storm related damage which only can happen after a detailed damage assessment of the entire facility.

The latest run-up was a scare due to Ike that really hit the gulf coast and south east. If you remember, there were news reports of gas going up 60 to 90 cents over night, stations running out of gas, etc. Some of this was panic induced and some was supply issues with the aforementioned shut-in of gulf coast refineries. Should start to level off and then drop at a decent rate once the refineries all get back online.

(in reply to rapala11)

Post #: 5

RE: gas prices. - 9/17/2008 12:25:03 PM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

The price you are paying at the pump today is reflected in the Futures prices of a month or more ago..........

the price jumped this week on the news that the refineries may be damaged by ike. the price hike of 30-40 a gallon was based on speculation, i believe, not usage. otherwise, it would have gone down as demand had gone down.

in the meantime, as producers and suppliers attempt to hang onto these higher prices, you and i are getting gouged again.

_____________________________

silence means consent

..."Old men start wars...young men die in them."

(in reply to eyesandgillz)

Post #: 6

RE: gas prices. - 9/17/2008 1:05:51 PM

eyesandgillz

Posts: 682
Joined: 6/18/2003
Status: offline

quote:

ORIGINAL: rapala11

The price you are paying at the pump today is reflected in the Futures prices of a month or more ago..........

the price jumped this week on the news that the refineries may be damaged by ike. the price hike of 30-40 a gallon was based on speculation, i believe, not usage. otherwise, it would have gone down as demand had gone down.

in the meantime, as producers and suppliers attempt to hang onto these higher prices, you and i are getting gouged again.

That is the point though, rap, there were regionalized spikes in useage and shortages due to Ike. Pre-Ike, everyone on the gulf coast, esp. the Texas and LA gulf coast was filling up prior to the storm not so much to beat the price hike but to have fuel to evacuate and get around after the storm. This lead to shortages and price spikes in that region and it spread to other areas when a small panic ensued. Up here, we were insulated from any large spikes. Heck, gas just finally went up 7 cents here in the south hills of PGH from where it was on Friday and Saturday. Regions that get a large supply from those refineries in the gulf coast were affected the most.

(in reply to rapala11)

Post #: 7

RE: gas prices. - 9/17/2008 1:23:10 PM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

why then, did the price go up prior to ike, while in the three weeks prior, as the price of crude plummeted, the price of gas barely moved? seems as though those setting the price of gas have it both ways.

_____________________________

silence means consent

..."Old men start wars...young men die in them."

(in reply to eyesandgillz)

Post #: 8

RE: gas prices. - 9/17/2008 3:46:14 PM

DanesDad

Posts: 1989
Joined: 3/21/2005
Status: online

quote:

ORIGINAL: eyesandgillz

Useage has actually been decreasing, especially in the US. The price you are paying at the pump today is reflected in the Futures prices of a month or more ago. Also, refiners in the US were actually losing money on gas for a good while now as they had not passed on all their increases to the public. The crude producers were reaping the benefits of higher crude, not the refiners. Now, with crude falling, refiners will most likely try to hold onto higher prices as long as possible to recoup some of their losses. Additionally, almost 20% of the US refining capacity was shut in because of Ike. You don't just flip a switch to start refining crude again and that is after you fix all the storm related damage which only can happen after a detailed damage assessment of the entire facility.

The latest run-up was a scare due to Ike that really hit the gulf coast and south east. If you remember, there were news reports of gas going up 60 to 90 cents over night, stations running out of gas, etc. Some of this was panic induced and some was supply issues with the aforementioned shut-in of gulf coast refineries. Should start to level off and then drop at a decent rate once the refineries all get back online.

But the crude producers ARE the refiners! They win either way!

(in reply to eyesandgillz)

Post #: 9

RE: gas prices. - 9/17/2008 4:12:08 PM

Over the Hill

Posts: 515
Joined: 3/28/2007
Status: offline

quote:

ORIGINAL: rapala11

why then, did the price go up prior to ike, while in the three weeks prior, as the price of crude plummeted, the price of gas barely moved? seems as though those setting the price of gas have it both ways.

Rap., you got it right. Today's excuse is the refineries are down. Opec said it's cutting production... prices go up instantly. But when the price per barrel drops and they say we won't see a price drop at the pump for a month. So many hands in the cookie jar and we are all getting screwed. Everyday there's another excuse for it...

_____________________________

OVER THE HILL

Some people are like slinky's; not really good for anything, but, they bring a smile to your face when you push them down the stairs...

(in reply to rapala11)

Post #: 10

RE: gas prices. - 9/18/2008 8:59:19 AM

eyesandgillz

Posts: 682
Joined: 6/18/2003
Status: offline

quote:

ORIGINAL: DanesDad

quote:

ORIGINAL: eyesandgillz

Useage has actually been decreasing, especially in the US. The price you are paying at the pump today is reflected in the Futures prices of a month or more ago. Also, refiners in the US were actually losing money on gas for a good while now as they had not passed on all their increases to the public. The crude producers were reaping the benefits of higher crude, not the refiners. Now, with crude falling, refiners will most likely try to hold onto higher prices as long as possible to recoup some of their losses. Additionally, almost 20% of the US refining capacity was shut in because of Ike. You don't just flip a switch to start refining crude again and that is after you fix all the storm related damage which only can happen after a detailed damage assessment of the entire facility.

The latest run-up was a scare due to Ike that really hit the gulf coast and south east. If you remember, there were news reports of gas going up 60 to 90 cents over night, stations running out of gas, etc. Some of this was panic induced and some was supply issues with the aforementioned shut-in of gulf coast refineries. Should start to level off and then drop at a decent rate once the refineries all get back online.

But the crude producers ARE the refiners! They win either way!

Not all of them by a long shot.

(in reply to DanesDad)

Post #: 11

RE: gas prices. - 9/20/2008 11:23:46 PM

DanesDad

Posts: 1989
Joined: 3/21/2005
Status: online

You are telling me that Exxon-Mobil doesn't produce and refine oil? And, either way, why are WE always getting screwed? Someone else is always making out and the consumer is always losing with petroleum.

(in reply to eyesandgillz)

Post #: 12

RE: gas prices. - 9/22/2008 8:56:07 AM

eyesandgillz

Posts: 682
Joined: 6/18/2003
Status: offline

Consumer is the problem. We consume too much!

(in reply to DanesDad)

Post #: 13

RE: gas prices. - 9/22/2008 10:03:59 PM

Mikastorm

Posts: 2803
Joined: 10/18/2006
Status: offline

A driver is stuck in a traffic jam going into downtown Chicago . Nothing is moving north or south. Suddenly a man knocks on his window..
The driver rolls down his window and asks, 'What happened, what's the hold Up?'
'Terrorists have kidnapped Barack Obama, Hillary Clinton, Oprah Winfrey, Rosie O'Donnell, Jesse Jackson and Al Sharpton. They are asking for a $10 Million ransom. Otherwise, they are going to douse them with gasoline and Set them on fire. We are going from car to car, taking up a collection.'
The driver asks, 'On average, how much is everyone giving?'

'About a gallon.'

_____________________________

(in reply to eyesandgillz)

Post #: 14

RE: gas prices. - 9/22/2008 10:56:15 PM

Over the Hill

Posts: 515
Joined: 3/28/2007
Status: offline

Gas dropped a dime a gallon from last week to $3.59... Yea! But today's market jumped $25.00 bbl. $4.00 gal. by the end of the week?

_____________________________

OVER THE HILL

Some people are like slinky's; not really good for anything, but, they bring a smile to your face when you push them down the stairs...

(in reply to Mikastorm)

Post #: 15

RE: gas prices. - 9/23/2008 12:17:32 AM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

mika, that is really sick.......

oth, did they give a reason for the spike? someone at work thought it was a weakened dollar. new reason (excuse). curious to see how fast it jumps.

_____________________________

silence means consent

..."Old men start wars...young men die in them."

(in reply to Over the Hill)

Post #: 16

RE: gas prices. - 9/23/2008 12:43:07 AM

Over the Hill

Posts: 515
Joined: 3/28/2007
Status: offline

I heard somehow it was tied to the bailouts, illegal manipulation, people trying to cover their shorts.... Don't know for sure except the prices will cost us more at the pump very very soon. They have the new excuses..... Should make up a forum: GAS PRICE INCREASE EXCUSE FOR THE DAY!

_____________________________

OVER THE HILL

Some people are like slinky's; not really good for anything, but, they bring a smile to your face when you push them down the stairs...

(in reply to rapala11)

Post #: 17

RE: gas prices. - 9/23/2008 7:13:11 AM

bingsbaits

Posts: 950
Joined: 3/1/2007
From: spartansburg,pa
Status: online

They said beacuse of the bailouts it will booste the economy there by uping the demand for more gas....What a bunch of crap this whole gas thing is....

_____________________________

......"Don't Piss down my back and tell me its raining!"....

(in reply to Over the Hill)

Post #: 18

RE: gas prices. - 9/23/2008 8:38:13 AM

harry1

Posts: 61
Joined: 3/16/2008
Status: offline

don't worry, the oil companys can make up excusses faster than you can debunk them.

of the people- by the lawyers-and for the oil companies. government by big oil.

(in reply to bingsbaits)

Post #: 19

RE: gas prices. - 9/25/2008 12:59:15 PM

jlh42581

Posts: 4702
Joined: 10/13/2004
From: Milesburg, Pa
Status: online

As if gas wasnt enough of a hurt, NOW its heating season, last i checked heating oil in my area was $4.70/gallon. Avg home uses 5-7gallons a day. Figure the season is Oct->April (7 months). We'll say 30 days a month to keep it simple. (210 heating days X 6gallons(avg) X$4.70/gal) = $5922 in just home heating oil. Divide that by 7 months = $846/month. Say your lucky enough to stretch it 12(which wont happen) thats still $493.50/month for an entire year... for one heating season. Who the hell can afford that.

_____________________________

Jeremy
http://www.outdoorintegration.com
(going down for a server transfer in the next week, blog will remain active)

Outdoor Blog
http://outdoorintegration.blogspot.com/
- Weekly Tying Tutorials, Info About Hunting, Observations about outdo

(in reply to harry1)

Post #: 20

RE: gas prices. - 9/25/2008 1:24:36 PM

rapala11

Posts: 2603
Joined: 3/5/2006
Status: offline

210 heating days X 6gallons(avg) X$4.70/gal) = $5922 in just home heating oil. Divide that by 7 months = $846/month

ouch. man, i feel for you guys who use heating oil.

_____________________________

silence means consent

..."Old men start wars...young men die in them."

(in reply to jlh42581)

Post #: 21

Page: [1]

All Forums >> [Pennsylvania Boards] >> Off Topic Discussions - Pennsylvania >> gas prices.

Page: [1]

Jump to:

New Messages	Hot Topic w/ New Messages	Locked w/ New Messages
No New Messages	Hot Topic w/o New Messages	Locked w/o New Messages

0.094