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Did a war start in the Middle East?

T

Texas!

Member
Here in Central Texas regular unleaded gas was $2.96 per gallon yesterday. Today it is $3.15. What caused a $.19 overnight jump in the price?
 
I just love the way the oil companies do their business, They go to the media and tell them that some catastrophe is going to happen and the media jumps all over it telling the public that prices are going up because of this or that. It is just like the 70's when we were going to run out of oil immediately, and now we produce and use more than we ever dreamed of.
 
In Traverse City Michigan, Monday morning it was $3.16, by the end of the day it was $3.49. 33 cent increase that day.
 
Middle east...thats like Ohio? (sorry been a long day lol). Im sure the oil companies have to get on the bandwagon of propane prices, they wouldnt want to be left out. I dont know how things are going to go with higher diesel for the farm again....
 
Didn"t someone on here say that they shut the refineries down this time of year? That would be an excuse for the price jump.

I have no doubt that it"s some sort of manufactured crisis to justify sticking it to the consumer.
 
Let's see... They say Ft. Worth is where the west begins, so Arlington would be Middle East, Dallas would be Far East, right? LOL

I remember not long ago the oil companies would blame any and everything for price increases... Tanker truck crash, oil rig fire, hurricane MIGHT form... Looks like we got wise to those excuses, so now it just happens. What can we do?
 
Hadn't you heard? There was a small explosion at a refinery here in Sask. back in December. Therefore the price of fuel goes up. Didn't think it would have such a wide spread effect down south though. Oh how I miss the days when a bushel of wheat would buy two gallons of fuel. :roll: I'm going to have to raise the price of the next truck load of grain I sell now. :shock:
 
(quoted from post at 01:14:58 02/12/14) Saw diesel at 4.09 last night, gas still holding at 3.16 for now....
Click to expand...
h! Come on fellers........you can't explain that sheet! You will just get your shoes wet.
 
Wouldnt doubt it near $1.40 a liter here in Manitoba Canada right now, Parked the diesel truck a month ago, It's still licensed for emergency use if the gas truck dies, but if the price goes 6 or 7 bucks a gallon up here Ill take that off too.
We had a shortage with coop had a 200 liter a day western Canada limit, trucking guys with fuel cards got mighty upset, been told there is still a shortage of farm fuel now.
Regards Robert
 
You will notice that gasoline prices tend to rise and fall with the stock market. The market had a good day yesterday. That's not the only factor, but when the market goes up, crude oil prices go up as well. Oil futures and stock indices have done well this week.
 
I get my gas at the CO-OP ..$1.25@ litre. Just under 4 Litres in a USA gallon, so we will say 4 to 1 ratio. With the Canuck Buck at .90 cents, that means I am paying how much ? $5.00 @ USA gallon in US funds. Well that sounds fair eh?
 
Hmm. I think it's a bit early for the switch to summer fuel. The requirements for "summer" gasoline don't kick in until May. I sure wish it WAS May, though.
 
(quoted from post at 04:12:04 02/12/14) I get my gas at the CO-OP ..$1.25@ litre. Just under 4 Litres in a USA gallon, so we will say 4 to 1 ratio. With the Canuck Buck at .90 cents, that means I am paying how much ? $5.00 @ USA gallon in US funds. Well that sounds fair eh?
Click to expand...


With all due respect Bruce, comparing gas in the US to Canada or Ireland or Sweden doesn't fly. While int his case the US and Ca dollar at nearly at par, the taxes involved are the main reason you pay more. IOW, your fuel is far more heavily taxed than ours, which is scary when you think about it. Here in my area of NY we're paying $3.75 a gallon as of last night. 70 cents of that is tax added on to the price. That doesn't include all the unseen taxes on the refineries, etc. that are in the mix long before it gets to the distributor. Every tax on an item gets passed on to the consumer.

Someone mentioned greed. Well, what's more greedy- the oil companies making approx 9 cents a gal after all the costs of exploration, development, refining, etc. or the gov't with absolutely no investment at all in the product getting 70 cents a gallon of pure profit?

So the next time someone wants to complain about costs, remember taxes, regulation, etc make up a large portion of what you are paying.
 
The 70's are 40 years in the past, technology is the reason we have more recoverable reserves now than we did then. Take the US West for example, an expidition sent out by President Teddy Roosevelt collected much of the data which is still used to locate the probable oil plays but it was roughly 100 years before we could access and produce it economically.
 
Summer blend/refinery maintenance. Just 2 of the excuses I heard here in Va. Guess everybody shut down at the same time.
 
19 cents, that's all? You got a break. Our gas in the great lakes area went up 40 cents on Saturday. But we have these weekly spikes all the time. anywhere from 20-50 cents. We all can thank speedway (Marathon) for this. The rest blindly follow.
 
The wholesale price of gas/diesel is set daily/hourly/
minute by minute really just like corn,wheat,oil
etc etc.A station buys a load of fuel they pay accordingly.
 
I've seen 40 cent jumps in ohio in one afternoon.
Not uncommon for two local speedway gas stations to be 30 cent different in price from one side of town to the other.
 
I agree, if we could see from start to finish what it takes to produce a gallon of fuel, we are getting quite a bargain.
 
They are making all the hearing oil they can at the expense of other products, I would guess. It's happened before.
 
Out of curiosity, I compared gasoline to other liquids that I picked at random from this morning's paper to put things in another perspective:

bottled water 16 oz @ .99 = $7.92 gal
Heinz ketchup 38 oz @ 2.48 = $9.92 gal
latex wall paint 21.99 gal
cup of coffee @ restaurant @ 1.50 = $19.20 per gal
gasoline (before taxes) 2.70 gal
 
(quoted from post at 22:55:10 02/11/14) Here in Central Texas regular unleaded gas was $2.96 per gallon yesterday. Today it is $3.15. What caused a $.19 overnight jump in the price?
Click to expand...
As others have pointed out, lots of factors but my feeling is that if you or I did the same thing as the oil companies, we'd be in jail for price-fixing.

A friend of mine once spent a year in jail because he attended a meeting where a couple of dry-cleaners conspired to raise the price of dry cleaning in our area. He didn't even profit from the price-fixing deal, he was just a supplier of the chemicals.

Yet, the oil companies do this on a daily basis and no one blinks an eye. And, as others said, govt taxes and costs associated with govt regulation all along the supply chain add up and are paid by you and me at the pump. I DO remember when gas was 19.9 at Hudson stations in my youth. Not much in taxes at that price.

Speaking of regulations, I fault the nanny abundant government that tries to tell us that it knows best what's good for us for much of our increased costs in ALL kinds of products. I was reading recently about all the certification and abatement requirements for home improvement contractors that must be certified for lead paint removal. Guess who pays for that? The consumer. Every time Congress or State legislatures pass a bill, you can bet that SOMEONE, SOMEWHERE is going to be paying more for SOMETHING.
 
that was a big shock but the kicker was diesel "only" going up .10. not all stations went up either. wierd.
 
That"s what I don"t understand. Gas price at two stations a block apart can vary by .30 or .40.

Its always .25 to .40 higher on the interstate than it is in town.
 
Inclement weather disrupts the supply... Less supply (even if demand stays the same) means the price goes up. Simple economics... If demand increases when supply goes down (lots of people stock-piling fuel [just in case] and the price REALLY goes up...
 
(quoted from post at 14:02:47 02/12/14)
(quoted from post at 22:55:10 02/11/14) Here in Central Texas regular unleaded gas was $2.96 per gallon yesterday. Today it is $3.15. What caused a $.19 overnight jump in the price?
Click to expand...
As others have pointed out, lots of factors but my feeling is that if you or I did the same thing as the oil companies, we'd be in jail for price-fixing.

A friend of mine once spent a year in jail because he attended a meeting where a couple of dry-cleaners conspired to raise the price of dry cleaning in our area. He didn't even profit from the price-fixing deal, he was just a supplier of the chemicals.

Yet, the oil companies do this on a daily basis and no one blinks an eye. And, as others said, govt taxes and costs associated with govt regulation all along the supply chain add up and are paid by you and me at the pump. I DO remember when gas was 19.9 at Hudson stations in my youth. Not much in taxes at that price.

Speaking of regulations, I fault the nanny abundant government that tries to tell us that it knows best what's good for us for much of our increased costs in ALL kinds of products. I was reading recently about all the certification and abatement requirements for home improvement contractors that must be certified for lead paint removal. Guess who pays for that? The consumer. Every time Congress or State legislatures pass a bill, you can bet that SOMEONE, SOMEWHERE is going to be paying more for SOMETHING.
Click to expand...
Nearly all of the gas stations near where I live are owned by for companies. The owners meet for breakfast every morning and decide what they'll charge. Every once in awhile a station that isn't locally owned will raise their price. Sometimes the four local guys will go along with the price increase, sometimes they hold the line and the chain that raised their prices are forced to drop theirs.
I don't know about the big oil companies being in collusion on pricing,but the distributors and dealers at the regional and local levels sure are.

The lead paint certification and work procedures are required even if you're not removing any lead paint. The US EPA RRP program is a farce. It does not cause any lead paint to be removed from homes. It does cause the price of a replacement window in a house with lead paint to go up by 60% or more. The RRP rules originally allowed home owners to opt out of having their contractors follow the RRP work rules under certain circumstances. The Sierra Club filed suit against the EPA because of the opt out clause. The EPA caved and eliminated it.
BTW, the US EPA had come up with the RRP program but hadn't enacted it. Senator external_link, and Senator Clinton threatened to cut funding to the US EPA if they didn't enact the RRP program.
 
A friend sent me this photo from 1955.
If trend hasn't changed, it looks like the tax was close to the price per gallon!
Why would this government want lower Gas prices??
mvphoto3505.jpg
 
I wonder if they even changed much of anything last year in my area. If the quality is poor and you dont get as good of mpg and dont raise the price, who is coming out ahead? I usually get around 30-32mpg on two different cars that are the same make and model just different years. last year I was between 27-29mpg on both. Once in the fall I was down to 23mpg on tank fulls on both cars so apparently the station got a bad batch but how do you tell them as you burned up the evidence?...lol
 
That might have been before Bush or just before we went to war. It hasnt been that "cheap" for years. Unless you are talking about Father Bush.
 
A comedian was saying to check out the price of ink cartridges. Toner ink is VERY expensive that way.
 
(quoted from post at 08:43:22 02/12/14) That might have been before Bush or just before we went to war. It hasnt been that "cheap" for years. Unless you are talking about Father Bush.
Click to expand...

This is a link to a neutral, 11 year chart of average national gas prices. That's as far back as I could find and still have a workable chart. The max price was it's highest under Bush 2, but has been overall higher under external_link. Truth is, neither of them have all that much to do with fuel prices.

http://www.gasbuddy.com/gb_retail_price_chart.aspx
 
Shows what you know. National gas prices were at $1.84 a gallon on January 26, 2009 - 6 days after external_link took office. Blame Bush for that too......


http://www.consumerreports.org/cro/news/2009/01/average-gas-prices-january-26-2009/index.htm
 
Iran is rattling their saber. They sent two ships to the Atlantic ocean to be near our maritime waters, so the oil speculators figured it was a good time to bid up crude oil.
 
I don't need a link to show that gas was $4.00 during the summer of 08 however gas was much less by the time Bush left office. A selective memory does not change facts.
 
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