Gasoline Prices Recently

[Solidarity]

Anybody have any explanation/idea why gasoline pump prices are on the rise while stockpiles are up and oil is still relatively low? Not even up $10 from the 52wk low, RBOB Gas is up $0.30 from its low a few weeks ago. This is obviously translating to the pump price but its weird how demand is still low with no change in sight and the latest energy report looked very bearish on oil/gas.

 

[icon124]

Here's my theory (but it really doesn't explain the little rally we have seen right now)

Most Countries need $65-$70 a barrel oil to survive...so they are trying hard to get oil back up to at least the minimum they need to survive. I think we will see this within the year, but no higher. I'm saying oil is going to stay between $65-$85 for the next few years.

The bubble has burst so we won't see those huge prices for a while, and this cheap oil won't last at $40 a barrel because it's to costly (to producers).

 

[tmosley]

That's great, but oil doesn't seem to factor into the equation here. Oil is still low, about 20% up from its recent bottom, but the price of gas has gone up disproportionately, up about 40% from it's low here in Lubbock (lowest price was $1.25, current lowest price is $1.70).

The problem must lie somewhere between the ports and the gas stations.

 

[fedup100]

I too have noticed this and all the old arguments involving the declining dollar was a lie. This seems to prove to me that THEY, control the price willy nilly.

The states are broke and they need the taxes, I believe they, The states are colluding to raise the prices to help fill their coffers.

 

[Solidarity]

I too have noticed this and all the old arguments involving the declining dollar was a lie. This seems to prove to me that THEY, control the price willy nilly.

The states are broke and they need the taxes, I believe they, The states are colluding to raise the prices to help fill their coffers.

Gas taxes aren't percentages which ruins that idea. Government likes cheap gas because more people drive, thus consume more gas and give them more tax profits.

 

[Solidarity]

Is anybody long oil at $40/bb? Thinking about picking some up and holding for a while.

 

[AmericasLastHope]

I noticed this as well. When oil sunk to $40-50 a barrel the cheapest I could find gas here was $1.41. Twice this week I have read on drudgereport that oil has sunk below $33 a barrel and it linked to a bloomberg article, but then when I looked at the prices on Bloomberg they fluctuated from $38 for Cushing price to $42.

Yesterday I go to fill my car up after work (someone said Wednesday's after 3:00pm is the best time to buy gas) and the cheapest I could find it for is $1.69!

It doesn't make any sense!

 

[fedup100]

I noticed this as well. When oil sunk to $40-50 a barrel the cheapest I could find gas here was $1.41. Twice this week I have read on drudgereport that oil has sunk below $33 a barrel and it linked to a bloomberg article, but then when I looked at the prices on Bloomberg they fluctuated from $38 for Cushing price to $42.

Yesterday I go to fill my car up after work (someone said Wednesday's after 3:00pm is the best time to buy gas) and the cheapest I could find it for is $1.69!

It doesn't make any sense!

Seattle was approx. $159 two weeks ago, today it is $1.99 cheapest with crude dropping like a rock.

 

[Wulfslæd]

Here in Alaska, demand for gasoline is not low. It's still $2.45 here. I noticed when it was $4 a lot more people were car-pooling into Anchorage. Now that prices have pulled back, almost no one is car-pooling. The demand is there, so there is no incentive for stations to lower prices because people are willing to pay. We haven't been affected much by the recession here. The job market is still decent. People are still working and driving to Anchorage every day.

 

[danberkeley]

Perhaps the storage tanks are full from the fall in demand and they are trying to get rid of the excess.

 

[Solidarity]

Perhaps the storage tanks are full from the fall in demand and they are trying to get rid of the excess.

Wouldn't that lower prices?

 

[nodope0695]

My guess is the prices are going up because Obama (that fuck) is going to cancell drilling for our own oil. Why keep the prices low when the threat of getting our own is now dead.

 

[Brian4Liberty]

Anybody have any explanation/idea why gasoline pump prices are on the rise while stockpiles are up and oil is still relatively low? Not even up $10 from the 52wk low, RBOB Gas is up $0.30 from its low a few weeks ago. This is obviously translating to the pump price but its weird how demand is still low with no change in sight and the latest energy report looked very bearish on oil/gas.

Leftists on TV had been pushing for higher gasoline prices. The gasoline Oligopoly was happy to oblige them.

 

[Solidarity]

Leftists on TV had been pushing for higher gasoline prices. The gasoline Oligopoly was happy to oblige them.

Don't even get me started with those asshats on CNBC

 

[ryanduff]

There was a story on the news about this the other day. They interviewed some station owners and they flat-out said they're overcharging to make up for the lack of profit they made when gas was $4/gal. They claim they were making pennies on the gallon last summer and now that oil prices have dropped, they can "charge more and still remain competitive enough to make $0.25/gal."

Sounds like they all got together and decided to gouge the consumer. Unfortunately they all need to do it or the sham falls apart. I was appalled when they interviewed two different station owners and they basically said the same thing.

 

[danberkeley]

There was a story on the news about this the other day. They interviewed some station owners and they flat-out said they're overcharging to make up for the lack of profit they made when gas was $4/gal. They claim they were making pennies on the gallon last summer and now that oil prices have dropped, they can "charge more and still remain competitive enough to make $0.25/gal."

Sounds like they all got together and decided to gouge the consumer. Unfortunately they all need to do it or the sham falls apart. I was appalled when they interviewed two different station owners and they basically said the same thing.

Link to story? Anyway, gas station owners usually only make pennies on gas. Most of their money comes from inside their minimart. Also, you can't overcharge. The transaction price IS the market price. The price of gas has collapsed and they are still "gauging" the customer? Besides, $.25/gal isnt much after expenses.

 

[ryanduff]

Link to story? Anyway, gas station owners usually only make pennies on gas. Most of their money comes from inside their minimart. Also, you can't overcharge. The transaction price IS the market price. The price of gas has collapsed and they are still "gauging" the customer? Besides, $.25/gal isnt much after expenses.

I wish I could find the story. It was on one of my local news channels and I just came across it as I was flipping channels. I searched all their websites and couldn't come up with the story so they must not have posted it online.

I'm not sure I believe everything you're saying about how they "always" make only a few pennies and how the can't overcharge. Maybe you could explain why there are 3 gas stations at an intersection and a price difference of $0.20. I've even seen the same brand station across the [divided] street with a $0.10-0.15 difference.

AFAIK, individual owned stations can charge what they want. Company owned stations have prices set by the company.

 

[danberkeley]

I'm not sure I believe everything you're saying about how they "always" make only a few pennies and how the can't overcharge. Maybe you could explain why there are 3 gas stations at an intersection and a price difference of $0.20. I've even seen the same brand station across the [divided] street with a $0.10-0.15 difference.

I said "usually". Anyways, How are they overcharging? Price difference: supply & demand.

 

[tmosley]

Link to story? Anyway, gas station owners usually only make pennies on gas. Most of their money comes from inside their minimart. Also, you can't overcharge. The transaction price IS the market price. The price of gas has collapsed and they are still "gauging" the customer? Besides, $.25/gal isnt much after expenses.

It's called price fixing. It's anti-competitive, and a symptom of socialism.

It isn't good. Price should be a function of supply and demand, not a function of how much profit people want to take. When they get together and raise prices, it is the same as if they were all a single chain, and equates with a monopoly.

I bet someone who was willing to start up a gas station chain now and shave profits would go gangbusters.

 

[jkr]

i am demanding a whole lot LESS gas these days...