gas prices

[bilkarr]

What is going on, that our gas prices just went up.

Earlier today it was 3.66. Now coming home everyone is jumping to 3.95.

Looked at the news, but can't find anything happening to justify the jump.

[cljohnr]

Ours did the same. It was $3.06 at 8 am and $3.19 at 1 pm.

[Echo_X]

It happens every once in a while due to a market term that is commonly known as "gas companies want more money". Also speculators are speculating that if oil costs go up, so will profits.

[beli]

Canada to Chicago sprung a leak in central Wisconsin and is currently shut down.

 

"That pipeline supplies Chicagoland refineries with crude oil, and without crude oil, you can't make gasoline," explained DeHaan.

 

That's led to a concerning problem.

 

"Basically, there are more people looking to buy gasoline than there are refineries that have it themselves," said DeHaan. "Buyers are outnumbering sellers, and that's why the price is going up."

 

http://www.620wtmj.com/news/local/164752116.html

 

But that's for our area..

[Bad Doctor Frost]

I think I also saw TexasDad posted something on FB about a refinery fire in Louisiana, but I could be mistaken.

[pryan67]

it was 3.74 here on Tuesday...3.99 on Wednsday....and 4.19 yesterday.....

 

 

contrary to what Echo said, it's not "the gas companies want more money"...do some research on what goes into the price at the pump and you'll see who's REALLY making money.....

 

 

 

I hadn't heard about the pipeline leak....although I do know that there are far too few refineries

[mk_378]

There are just the right number of refineries to be able to fix the price at the refinery level. If there were "too many" there would be a true free market, and speculators or no, someone would always be willing to sell gasoline for its true cost. If there were too few, gas stations would run dry. No matter what calamities are claimed in the supply chain, that never happens.

 

Also to make sure there is not an excess of refinery capacity, the USA exports a lot of refined products. If that were not happening, and our refineries only met domestic consumption, there would be no need for importation of "foreign oil".

[YellowDiamond]

it was 3.74 here on Tuesday...3.99 on Wednsday....and 4.19 yesterday.....

 

Ouch! It was $3.26 here yesterday.

[VibrantEcho]

We went $3.52 to $3.69 on Thursday. These days, I consider anything less than a 20c jump to be business as usual.

[hegemony]

3.61 for 91 today.

[beli]

3.95 here.. roughly.. though the gas station across the street (has always been on the high side) is at 3.99 and has been for a couple days.

[pryan67]

What's REALLY sad is that if/when it goes down to 3.50 (ours is still 4.19) we'll say "awesome...great deal"