Gas price's

[joe g]

Someone explain this to me!
Consumption the lowest in many years- less miles driven in years- and gas has gone up 10cents every week. Our Attorney General wants an INQUIRY AGAIN -and nothing will be be accomplshed.
joeg

[jmimac351]

Sure... feed rampant inflation / printing of money, the prospect of economic growth somewhere far out on the horzon, Cap and Trade, Government manipulation / threats, and possible whims of a Socialist President into a supercomputer and that will be your answer. The markets don't know what to do but there is one thing you can count on - PAIN.

I'm going to smoke up a big fat cigar before it's illegal.

[Ronbo]

It goes up every summer...

[MaSnaka]

It was last year at this time that gas went from low 3's to 4 1/2$'s per gallon by the end of the holiday weekend. I sure hope it doesn't happen again.

John

[Bob In Ct]

When you leave out the tax it's about the same price as soda. Seems like a bargain. I'd like to know why a box of 50 rounds of 9mm range ammo is costing me almost $20!

Bob

[twobjshelbys]

I think they spell it GEEE RRRR EEEE EEEE DDDD

One of the things I know from any commodity business is that


PRICE

does not relate to

COST

Price is what the market will bear.

[twobjshelbys]

Originally Posted by Bob In Ct

When you leave out the tax it's about the same price as soda. Seems like a bargain. I'd like to know why a box of 50 rounds of 9mm range ammo is costing me almost $20!

Bob

I'd like to know why my bottle of Diet Coke costs more than 79c (it's now about 1.79)

We're all making less money (I got a 10% cut but still have a job) yet prices are going up. I think I must be a resident of a different planet than the one I live on.

[Jim Werth]

Hope the gas prices come down after the holiday weekend. I've got a 2300 mile weekend coming up. Green Bay to Boston and back, plus a little local driving. Jim

[paul44224]

Last year at this time, gas was over $4 a gallon.

Paul

[Ron61]

Originally Posted by Bob In Ct

When you leave out the tax it's about the same price as soda. Seems like a bargain. I'd like to know why a box of 50 rounds of 9mm range ammo is costing me almost $20!

Bob

Bob,

I was over at the range shooting yesterday and they can't even get any 9mm ammo. All they had were a few, about a dozen boxes, of odd caliber ammo and Jeff told me that they had been calling every day trying to get 45 and 9mm and just can't get any. Also their selection of guns for sale is very small and he said they are even having a hard time getting new ones to replace them as everything is back ordered. Al, of the gun stores around here are out of 9mm and they say the same thing. People are going from store to store trying to find a gun they like as most of them only have some of the less popular models in stock. I did find one 45 caliber that 8 months ago was priced at $595. It is now $1,295 and is the same gun as I looked at back then.

As for the gas prices they raise them a lot every year up here for the tourist trade. But since the tourists aren't coming in any big numbers this year, they raised the prices more and faster to try and make up for the lost extra money they would have taken in during a normal season. Not only has the economy hurt here, but the drought and the lake being so low also hurts and many people are staying close to home.

Ron

[Wayne Maybury]

The selling price of gasoline is not directly tied to the cost of oil but there certainly is a link. It is also a good excuse for the oil companies to increase the price of gas.

One of the reasons for the cost of oil increasing is that the USD is tanking compared to most major currencies. The US government cannot continue to spend billions (trillions) of dollars more than it takes in without the value of the currency falling.

Wayne

[86Sebring]

its those greedy bast...ds on wall street, check this article from yahooo news:

At the same time, prices are starting to rise for seasonal reasons. Americans drive more in summer, and federal and state laws require different, more expensive gasoline blends this time of year.

The trading markets are at work, too. By mid-February, the price of oil had fallen so far — below $34 a barrel, compared with a peak of $147 last July — that large investors couldn't resist buying in.


Investing momentum feeds on itself, and government data suggests speculative trades are on the rise, meaning people are buying in simply because they know they can sell for a quick profit.

"There's no lack of gasoline right now or the lack of ability to produce it, and anyone who says speculators are not playing a role in this run is delusional," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service.

The same thing happened last year, to a much greater extent. Because when the Wall Street crisis struck and the economy tanked, oil prices collapsed. Gas fell to $1.61 by the end of the year.

There should be a regulation to prevent this crap from happening...

[stuartb]

Wayne is right about this. But it is also when they usually raise the price for the summer travel season. In the past more people drive during the summer so prices are higher.

[Bob In Ct]

Here's what I bought this week -

2 top deck tickets (I could hardly see the ball) to a Yankees game - $200.00
1 16 ounce bottle of water - $3.50
1 Ipod Classic - $240.00
1 12 ounce bottle of car wax - $14.95
1 12 ounce coffee - $1.35
1 Dinner (not top shelf) for the wife and me - $75.00 (includes tip)

Why would I worry about $2.30 per gallon for a resource found 4 mile down and shipped from halfway around the world?

Bob

[Bobcat]

Greed/make up profit are in the mix here .
However , some other things that come into play here are : the seasonal change to the new blends . Unfortunately , there isn`t one blend but over 30 if my memory is correct . Each time a refinery has to change to what another State requires , they have to shut down that line and purge everything , including the pipeline . Sorta expensive .
Right now , land drilling is in the toilet , but offshore appears to be holding up so far .
The devaluation of the dollar is also having an effect as Mid East oil prices are based on the dollar . If it goes down , they raise the price per barrel .
Right now , many producers are losing money and have reduced or halted drilling programs and will wait until prices come back to where they can make money . Throw in a hurricane of two this summer , and we are screwed again .
Maybe someone can check my figures , but I heard that the barrel price quoted is for West Texas crude ... and most of our gas/oil is from the mid east ... which is higher than the domestic oil .
For what it`s worth ... in 2007 ... 62 % of our energy came from oil and natural gas , 23 % from coal , nuclear and hydrolectric was 11 % and renewables approx.4% . If my source is correct , wind and solar made up 10% of the renewables .
Looks like those won`t be the savior of the country as we were promised .