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.
gas prices
Started by
bilkarr
, Aug 02 2012 03:35 PM
11 replies to this topic
#1
Posted 02 August 2012 - 03:35 PM
#2
Posted 02 August 2012 - 03:36 PM
Ours did the same. It was $3.06 at 8 am and $3.19 at 1 pm.
#3
Posted 02 August 2012 - 04:24 PM
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.
#4
Posted 02 August 2012 - 07:30 PM
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.c.../164752116.html
But that's for our area..
"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.c.../164752116.html
But that's for our area..
#5
Posted 02 August 2012 - 11:53 PM
I think I also saw TexasDad posted something on FB about a refinery fire in Louisiana, but I could be mistaken.
#6
pryan67
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Mikey, the Life cereal kid
Posted 03 August 2012 - 05:05 AM
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
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
#7
Posted 03 August 2012 - 08:02 AM
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".
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".
#8
Posted 03 August 2012 - 09:28 AM
it was 3.74 here on Tuesday...3.99 on Wednsday....and 4.19 yesterday.....
Ouch! It was $3.26 here yesterday.
#9
Posted 04 August 2012 - 01:01 PM
We went $3.52 to $3.69 on Thursday. These days, I consider anything less than a 20c jump to be business as usual. 
#10
Posted 04 August 2012 - 08:29 PM
3.61 for 91 today.
#11
Posted 05 August 2012 - 07:24 AM
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.
#12
pryan67
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Mikey, the Life cereal kid
Posted 05 August 2012 - 08:38 AM
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"
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