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Gas prices in your area?

C

Chris in SK

Member
How are gas prices in your area? Gas just went up 17c/litre (68c/USgal) here in Saskatchewan. They say it is because of an outage at a refinery in Indiana. How can one refinery (1500 miles away) have such an impact on fuel prices?? Crude is below $44/barrel. So far diesel price seems stable.
 
Same here in Michigan. Filled up at 10:00 AM yesterday, drove by 4 hrs later and price went up 50 cents. Same gas in the ground. I don't understand how the govt allows this collusion. Every station just happened to raise their prices the exact same amount at the same time? Try that in any other industry and you'll be charged with price fixing.
 
It jumped from $2.39 to 2.99. I'm pretty P.O.'d about the whole thing. It stinks of a huge scam. That 2.39 was about the lowest it's been here in Michigan in a while. I paid $2.23 and 2.25 in Ohio last week,saw it as low as $2.18 there on the south side of Paulding.
 
I just paid $3.189 here in North central Indiana. I also think it is a scam. I have driven through Whiting In , you wouldn,t believe how many big tank farms there. At least some have to have gassoline in them , cannot all be jet fuel or? joe
 
and when the wholesale spot price is higher than yesterdays retail price a station is supposed to do what?- lose so much money they go out of business? The cost and the shortage due to refinery problem is a problem for a great lakes region marketing area- the spot wholesale price from a New Jersey refinery for a tanker truck is less- but that will require a thousand mile delivery charge. Midwest are served by that refinery will have a pocket hit for next month or so. Last night was $3.49 gallon for non ethanol premium at a Dubuque station and day before was $3.19 Kwik Trip- I need that non ethanol fuel for old motorcycle. This is about like situation in California a few years back when pipeline was down from Texas fields to southern California markets- dollar a gallon pump price jump in 3 days. Shutdown refineries for a couple days when hurricane goes up east coast and next 2 weeks has $.50 to $1.00 higher at pumps that are open. Price controls for retail price without wholesale fuel available giving a workable margin has happened a few times- result is most stations shut off the pumps after the fuel in tanks at the profitable or at least break even price is gone- I think of Chicago during first OPEC action 1970s when trying to do deliveries. $4.00 gallon around Madison, Wisconsin area was only couple years back so most drivers will know enough to cut back and car pool or get out the motorcycles. RN
 
Yeah sorry, I didn't make that very clear. Since I'm in Canada and our $'s are no longer equal that would probably be a $0.50 US$ increase per gallon. The $ exchange rate, litres, US gals, Imp Gals makes it difficult to do apples to apple comp.
 
Wife paid 2.19 yesterday for gas and I paid 2.45 for diesel. Lowest I have seen in a while.
Richard in NW SC
 
Today 100 miles south of KC,MO gas is from $2.27 to $2.39 a gallon.....Yesterday it was $2.23.....In January when crude was as low as it is now gas was selling for $1.58 for a few days...

Diesel is as low as $2.34...
 
2.50 in south central Iowa. I was in the fuel business 14 years. The excuse "The refinery is closed for repair or updates" is Total BS. Every time that happened we were contacted and told "Don't worry we have enough product in storage to keep up with demand" That old wore out excuse is a total crock of crap that our national news media promotes.
 
As farmers we understand the price swings of bulk commodities.

Corn and beans and wheat dropped near limit down yesterday.

On the grocery shelf today, I did not notice cornbread prices down 10%, I did not notice Wheaties down 10%.....

Gasoline is pretty tightly controlled by a very few players in the USA. Makes a person ponder a bit, when the raw material of crude drops, the prices are kinda low, and one of the players has some mystical issue that slows the bulk supply a bit, causing the retail price to jump up 15% in a couple days.

Now, anyone dealing in bulk commodities contracts out a few months, so spot prices aren't really all that important other than for headlines.

Yea, I think we get it....... And keep getting it.......

Paul
 
"controlled by a very few players"

I'd be willing to bet the farm that those few players are heavily invested in talk radio hosts too as another one of their investments.
hd6gtom confirmed my strong suspicions. I don't buy in to this crap they spread about gas prices anymore. China's in trouble,grain prices crashed after the latest report,investors are taking a beating and have to make it up somewhere. Anybody's free to think otherwise,but they'll never convince me. I don't know why this ticks me off so bad this time,but it's just the straw that broke the camels back. This pushed me right over the edge.
 
At the top center of Northern Illinois yesterday morning $2.35, last night 2.999.. Supposed to be the 7th biggest refinery in the US has a problem and its' in Indiana, I think they just flipped the breakers off.
 
Gas went from $2.29 to $2.89 here yesterday. Today I traveled from Columbus to Portsmouth and every station along the way was same price - $2.89. How can that be that EVERY station is the same price across half the state?

I crossed the Ohio River to make a call in Kentucky and gas there is only $2.39!

I think this is all rigged.
 
So, my question now is this:
Where is the guy that said that this was all rigged because of the upcoming elections? He said it happens every time.
I've said it before, and I will say it again: There is NO CONNECTION between elections and gas/oil prices. Politicians (especially those seeking office) simply do not have that level of power or influence. Period.
 
You bet it is. When I was in Ohio last week,the price varied from $2.18 to 2.45. Sometimes that spread was in the same town.
 
So if the oil companies are making so much money why not join in and buy their stock
every one of them has stock that trades daily? Think once you really see how they work you'll be disappointed at the return you'll get for your investment.
 
It's not about stock prices in oil companies. It's about the price of wholesale gasoline. Buying it cheap then manipulating the price to rake in huge profits. With interest rates at 0% to finance the national debt,the only way for investors to make money with the money we pay in for insurance,retirement,etc,is to invest in the stock market,commodities or real estate. They've been getting their backsides kicked and have to make some cash quick. So we're being bent over. AGAIN!
 
jimg.allentown - Aren't you getting political? poof! Or is it OK for you to be political when it suits you?
 
Oil companies,gasoline distributors and every other company is in business to make the most money they can for their shareholders NOT to sell their products as cheap as possible.If they can sell their product for X amount it'd be stupid on their part
to sell for less.Cattle are pretty high these days,I raise cattle and many folks think beef prices are too high in the grocery store and that may be but I'm not going to sell
under market value.
 
There are going to be a lot of new millionaires in a year or two or three or ten when oil does bounce back due to the fire sale in oil stocks right now. There are dozens of tightly run, highly solvent old line companies whose stocks are currently in the pits but not for fundamental reasons. US shale producers lead this charge to increased supply and lower prices and they have already figured out how to make money at 40 bucks a barrel, Saudi Arabia and OPEC are finished as market makers and will soon be in dire straights, which many members are in already.
 
Just a big money grab by the oil company's and the government.
Government won't say much as most of it is taxes.
Yes it went up to 1:25 litre yesterday here.
 
Yes, I agree with you to a certain extent. I own a few oil company stocks for that reason. The big few seem to do well every year regardless, but I wonder what would happen if all food at the grocery store took an over night 20% price hike?
I’m glad you are making money with cattle…..enjoy it while it lasts. It’s took some hard years and hard decisions for many cattle producers to get the NA herd to this current low level and get prices up where they should be.
Unfortunatly I just think the oil companies think they can walk all over the consumer. If I don’t like the price of beef, I can always eat pork or beans. Not many options with gas. I’d buy a Tesla, but I’m not sure how the batteries would hold up at -40, lol.
 
Had 8500 gallon tanker of diesel delivered to the farm yesterday no road tax for off road use only $1.74, cheap as we have paid in about 6 years.. Road e87 gas is $2.20 tonight in middle Tennessee.
 
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