Gas Prices

[Bilby]

I paid A$1.47/L the other day and it had just dropped by 1c/L. It always goes up over Easter here. Not sure what that equates to in US$/gallon. Our price is based on the Singapore market, and yet, when something happens in the US or in the Middle East, our prices go up as well - immediately. In WA, we have a program called FuelWatch run through our Ministry of Fair Trading (DOCEP) which limits petrol stations changing their prices within a 24-hour period. They have to advise DOCEP what their price will be the next day and stick to it. It has put a stop to the ridiculous fuel wars that did nothing for anyone really, or at least only a few customers before the fuel sold out. Service stations proprietors certainly didn't profit from it.

 

[simplicity]

Gas at my local Houston station was $3.20 yesterday for regular unleaded.

For 30 years we have been told to reduce our dependence on fossil fuels. Few listened.

As Pogo said "We have met the enemy and he is us."

 

[Steamboater]

VeraBlu; I absolutley agree. The difference between now and the 1930's is that we're bombarded with things to buy. There's no quiet spaces any more. You can't even pull up at a gas station without music blaring, an attempt to sell recordings and those who make them. Walk into a Walmart and thousands of items are spilling off the shelves. Everyone is trying to sell something so we get a society overwhelmed with products and one that fills their lives up with THINGS.
These SUVS have become dinosaurs and the automobile industry finally has gotten the message I think, so maybe that's the only thing that's good that's come out of this gas price crisis. Still, if gas went below $3.00 a gallon tommorow (fat chance), who knows?
It's infuriating that we have a president who like another president--Herbert Hoover--mouths something akin to "Prosperity is just around the corner"; it's the same tact he's taken with this war in Iraq with victory is just around the corner. Apply that victory to the current recession (and we are in one) and we're in deep doo doo.

 

[Steamboater]

Bilby: There's an old saying, "When America coughs, the rest of the world gets a cold." In this case, we're have the cold and it just might be pneumonia for everyone else. That law in your country requiring a 24 hour notice of price change is a good one but the bottom line is still, the price goes up.

 

[Adillo303]

On another website, I read a fairly detailed discussion of gas pricing. While it used to be supply and demand, blah, blah, blah. Now it is more the commodities market. Fuel is made and then sold on the comodities market. The producers, shippers and refiners are now out of the picture. The commodities traiders / companies in some, or many, cases still own the fuel after it is delivered to the station. They can then control the price on a daily basis. Even to the loss of the fuel station operator. Here is the pertinant date:

This is a long story but i will make it short,The fuel prices are changed daily by the brokers that are holding the paper on the fuel in the stations tanks(hopefully the little guy has not paid for his upon delivery), they do this around 4:00 pm daily( most stations make .03 to .07 per gallon), As for price , gas / fuel to make it to 2.96 per gallon at the pump you need $98.00 crude, have we seen that no. There are to many people trading in oil paper creating a false demand,You can also blame a lot of the Shortages on the electronic chalk boards that these comodities are traded on , no records are saved on these and you can buy your own oil and run up the price and it is never recorded. also watch the supply chain as they move the oil around the country it causes a shortage because it is not here anymore it is over there.The inventories never change it just shows up the next week when it has stopped moving around.In short the oil is here , they need to stop playing games and let this country get back on it's feet.
Check out this site every Wed. about 12:30 EST.

 

[Bilby]

Bilby: There's an old saying, "When America coughs, the rest of the world gets a cold." In this case, we're have the cold and it just might be pneumonia for everyone else. That law in your country requiring a 24 hour notice of price change is a good one but the bottom line is still, the price goes up.

Haha!! Tell me about it!! I keep on getting sent letters from my bank telling me that my mortgage has gone up and would I like to change my direct debit, but before I have had a chance to evaluate, sign the form and send it back they have sent me another one telling of another rate rise!! And why is this happening? Cos the US bank's mortgage scheme problems - not ours!!! With this last rise, I will be spening about 44% of my net income on my mortgage each week.

All I can say is would you guys take some cough medicine!!!

 

[AMSeccia]

Bilby, I genuinely feel for you and your mortgage pains. And for the person on SSI, I also feel for you ... if it's any consolation I have invested a fortune in SSI and it probably won't even be there when I need it (like many others).

I am not convinced it's just American gas consumption that is affecting our prices, either domestic or worldwide. Everything seems to be made or packaged from petroleum products. And it's not just Americans, that argument is getting old and almost offensive. Many of us DO care, and DO teach our offspring about preservation for future generations. How much CRAP comes from overseas is made from plastic derived from petroleum products. Did you realize that adhesives and silicones to make labels contains those products? So does your toilet paper and paper toweling ... it's is essentially adhesive additives that give those products their strength.

My point is that there is more to this than the obvious urban yuppie driving a hummer down I-94.

 

[Steamboater]

Bilby: I got a flu shot and that still still didn't help. That's terrible about what's happening to you and others. Thankfully, I rent but who knows? My landlord could lose his morgtage and then I'd have to look for another apartment. Here in Sacramento, California so many people have lost their homes and are moving into aprtments so the rentals have gone sky high. I could almost live in San Francisco for what one bedrooms and studios are going for here now.

 

[Maverick2272]

That was in the paper yesterday, I think. DW was reading about banks foreclosing on rental apartments then raising the rent way up. They wanted to recoup their money but instead they end up with a vacant building which drives local house prices down which means in turn they end up with even less money...
If this is their idea of turning things around, then I think they need to change their hiring practices and hire someone with a wee bit more brain power. They even have banks here saying they would rather foreclose than give the mortgage holder a break on the interest so they can hold onto the house.
How dumb is that???

 

[Bilby]

Everything being said here is identical to what's said here. The general feeling here is irrespective of who is in power, politicians and head honchos of banks etc, have no idea how the average person is suffering financially. Last weekend there was a story of middle-income earners having to get food from the soup kitchens to feed their families while still going to work in the city in a suit.

Perth, in particular, has recently undergone an economic boom due to the mining in the North-West. Everything has gone up here. We became the most expensive Australian city to live in, esp for housing and rent. Only thing is, unless you are directly involved with the mining boom, you haven't got any extra money, only bigger bills. Sucks!

 

[AmericaWestCMH]

Up to $3.38 in central Illinois for 87.

US gas consumption is actually down >1%, but declining inventories are propping the price up.

The solution won't be making everyone buy a Prius, that is only delaying the inevitable. Car-dependent suburban living is not sustainable no matter what you drive. Mass transit isn't even the answer to current lifestyles, since it just isn't practical in low-density exurbs.

So what's the appeal in spending hours in a car everyday just to come home to a cookie-cutter community with no access (except by car) to basic services?

As for price , gas / fuel to make it to 2.96 per gallon at the pump you need $98.00 crude, have we seen that no.

Actually, we have (it was $112 less than 2 weeks ago). Oil has risen dramatically while refined gasoline has remained relatively cheap. Gasoline refiners have been getting killed with $100+ oil and market gasoline prices well under $2.50 until the past couple of weeks.

If you think gas is going to $4/gallon, buy some refiner stocks. Many are near their 52-week lows going into driving season.

 

[CharlieD]

The gas went up in price again. It was $3.15 on Friday. Suzie, I also drive 20 miles to work and in the morning I have to make 10 mile detour to drop kids of in school and the day care. I don’t know about bears, but we’d for sure freeze if we decided to walk to work. Speaking of sacrifices. I don’t even remember when I bought any close for my self, or kids or even my wife for that matter. Thank G-d for my in-laws, for every birthday they pay for close shopping, and they have been very generous. For the last 5 years I’ve been gradually making less and less money. It’s not normal, with everything going up in price.

 

[TanyaK]

Diesel went up AGAIN last night - we're now paying $5.51/gallon - around 30% more than it was at the beginning of the year. Has it gone up that much where you live?(I see the last post was end March)
(Apparently we're going to really see the effects on the food prices in the next 2-4 months - as if it hasn't already gone up enough:-(

 

[suziquzie]

Gas here is $4 a gallon, diesel $4.50 something I think, maybe higher.
Ouch.

 

[Andy M.]

I filled up the other day and paid $4.10 for a total over $64.00! That's for a car, not an SUV or truck.

 

[suziquzie]

My husband drives a semi..... he's never been so glad about his decision to sell his and drive for a big company again.
He filled up last night, it was $650!!! It was costing about $400 about the time he sold his. I can guarantee you we would have been living in it if he had kept it. Rates have not gone up at all.

 

[LadyCook61]

gas prices here are $4.06 a gallon.

 

[GB]

I do not know what I am going to do. I work an hour away and DW works about 30 minutes away. We both transport kids during out commute so we can not entertain a scooter or motorcycle option. There is no public transportation that would work for us either. We can't even carpool because of having to transport the kids, not that that is even an option anyway.

Right now we are spening about $130 in gas each week.

 

[Adillo303]

I don't know if anyone will find this helpful or not, but, GasBuddy.com - Find Low Gas Prices in the USA and Canada is a site from which you can pick your state and see the lowest gas prices. You can also join and report prices. It may not be enough to make a big difference, but, if those that charge a little less get more business than those that charge a lot they may see a message.

BTW if you can take the shock, they also show the highest prices, to help you know who to avoid.

AC

 

[GB]

We have been trying to fill up on Sundays. There are two stations down the road that have $.05 off per gallon each Sunday. It is not a huge savings, but it is something.