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"Gas prices rise to average of $2.55 a gallon" - 3/12/2007 8:39:41 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		"Gas prices rise to average of $2.55 a gallon"
"Pump costs have soared over 40 cents over the past six weeks"

"But Nymex gasoline futures have been soaring due to U.S. refinery glitches, declining inventories, and traders betting that demand going into the driving season will be strong enough to support higher prices. Gasoline futures, up more than 20 percent for 2007, rose 0.84 cent to settle at $1.9105 a gallon."

http://www.msnbc.msn.com/id/17577255/

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:44:44 PM   
dcnovice


Posts: 37282
Joined: 8/2/2006
Status: offline 		Now really, after four years in Iraq we should at least have cheap gas.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:46:11 PM   
Misstoyou


Posts: 1149
Joined: 9/4/2004
Status: offline 		And Vendaval, you know over here in CA, we'd kill for gas at $2.55.



*** edited because the red mad smiley didn't print right.

< Message edited by Misstoyou -- 3/12/2007 8:47:08 PM >

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:47:34 PM   
Marc2b


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Joined: 8/7/2006
Status: offline 		I’m not really sure what your point is but if you’re questioning why gas prices are up your post answers your own question.
quote:

U.S. refinery glitches, declining inventories,

Supply is down
quote:

going into the driving season

Demand is up.

Low supply plus high demand equals higher prices. Good old fashioned basic economics.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:47:47 PM   
WyrdRich


Posts: 1733
Joined: 1/3/2005
Status: offline 		      $3.22 a gallon this morning for mid-grade.  SoCal runs a bit higher.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:52:07 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: Vendaval

"Gas prices rise to average of $2.55 a gallon"
"Pump costs have soared over 40 cents over the past six weeks"

"But Nymex gasoline futures have been soaring due to U.S. refinery glitches, declining inventories, and traders betting that demand going into the driving season will be strong enough to support higher prices. Gasoline futures, up more than 20 percent for 2007, rose 0.84 cent to settle at $1.9105 a gallon."

http://www.msnbc.msn.com/id/17577255/


I think we will be looking at 3.00 a gallon in most places by Memorial Day.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:53:56 PM   
SDFemDom4cuck


Posts: 2809
Joined: 5/23/2005
From: P'burgh PA
Status: offline 		Paid 2.89 this morning for the cheap stuff and I'm a little north of San Diego proper. it's 3.00 for the cheap stuff there.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 8:56:40 PM   
Vendaval


Posts: 10297
Joined: 1/15/2005
Status: offline 		Not questioning, posting the latest information for discussion and debate.

_____________________________

"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
"WOLF MOON", OCTOBER RUST, TYPE O NEGATIVE


http://KinkMeet.co.uk

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:08:14 PM   
ExtremeMP


Posts: 44
Joined: 8/16/2004
From: New Orleans area
Status: offline 		2.39 low
2.49 medium
2.59 high grade

$90 yesterday to fill 2 cars
S. Louisiana

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:10:15 PM   
Archer


Posts: 3207
Joined: 3/11/2005
Status: offline 		Well lets see, a couple basic reasons the refining is down at the moment.

1. time to refit and set back up for boutique blends for the 46 different blends required by various state and local regulations around the country.
2. At the time they shut down the refining process to do reformulation they tend to schedule "turn arounds" the annual maintenence push when they basicly do a "Spring Cleaning" and complete the list of maintenence jobs they have been putting off until they had a chance to shut down.

Naturally this will cause a short term shortage and prices will rise



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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:18:35 PM   
UtopianRanger


Posts: 3251
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quote:

ORIGINAL: Marc2b

I’m not really sure what your point is but if you’re questioning why gas prices are up your post answers your own question.
quote:

U.S. refinery glitches, declining inventories,

Supply is down
quote:

going into the driving season

Demand is up.

Low supply plus high demand equals higher prices. Good old fashioned basic economics.


That is what is told to you by the good folks who control the gas. But answer me one question :

Why is it that when gas goes down it creeps down at a very slow pace, but when it starts to increase in price it's two to three times faster?

I guess my other question for you to a much lesser degree would be:  Why do you suppose when a handful of average, hardworking American people speak to the wonderment /bitch about the possibility of being gouged, why does a small handful of folks always run in and parrot propaganda from the corporate media that seems to justify such bogus prices?




- R


Disclaimer :  Please no rebuttal arguments with sources that include Snopes or Wikipedia

< Message edited by UtopianRanger -- 3/12/2007 9:28:21 PM >

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:22:19 PM   
corsetgirl


Posts: 824
Joined: 5/22/2004
Status: offline 		My neighborhood runs at $2.59 a gallon and that is regular unleaded prices. What really bugs me is if I travel to the next county, the gas prices are a little lower.  I think that is due to an additional 7% added tax to the gas that is supposedly is earmarked for road repairs.  Hmph, I don't see much of the repairs because there are still potholes in some of the roads!

Wyrd, $3.22 a gallon of gas?  That is outrageous!  I think I would be buying a moped.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:25:37 PM   
Sinergy


Posts: 9383
Joined: 4/26/2004
Status: offline 		 
I still remember what the oil companies said when asked by Congress why gas was so expensive.

"Last year we made a profit of umpteen billion dollars, and without raising gas prices again we wont
make record profits this year."

Sinergy

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:28:54 PM   
Archer


Posts: 3207
Joined: 3/11/2005
Status: offline
quote:

ORIGINAL: UtopianRanger



Why is it that when gas goes down it creeps down at a very slow pace, but when it starts to increase in price it's two to three times faster?

OK I'll answer that question directly
You have a 30,000 gallon tank priced currently at 2.00 a gallon, and you get word on Monday that Friday when you refill your tanks the price will be not 2.00 but 2.10
That means to refill your tank on Friday you need  not $60,000 but rather $63,000 when are you going to raise your pump price Friday or Monday?
The price moves down slower because during the time between Friday the 1st and monday the 4th the retailer has lost opportunity to charge the replacement cost of his stock. Thus they make it up on the back side.




I guess my other question for you to a much lesser degree would be:  Why do you suppose when a handful of average, hardworking American people speak to the wonderment /bitch about the possibility of being gouged, why does a small handful of folks always run in and parrot propaganda from the corporate media that seems to justify such bogus prices?

Because the answer given fits into the basic outline of what I know to be factual and logical. Supply and demand is factual and logical




- R




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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:30:22 PM   
FangsNfeet


Posts: 3758
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Status: offline 		Welcome to Spring Break.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:33:35 PM   
Archer


Posts: 3207
Joined: 3/11/2005
Status: offline
quote:

ORIGINAL: Sinergy


I still remember what the oil companies said when asked by Congress why gas was so expensive.

"Last year we made a profit of umpteen billion dollars, and without raising gas prices again we wont
make record profits this year."

Sinergy


Profit margin was still basicly the same it has been for the past decade though.
What margin on umpteen billion dollars invested would be acceptable for you before you consider it userous?

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:49:44 PM   
Nosathro


Posts: 3319
Joined: 9/25/2005
From: Orange County, California
Status: offline 		I am not 100% sure but I recall on the MSN news Nymex went down a few buck  about a week ago.  I do know I read in my local paper on a Saturday that since the Clinton Administration the Oil Companies have not paid the government some 6 billion dollars plus in royalites for pumping oil on government land.  So far no plan to get the money from the from the Oil Companies who continue to report record profits.  Go Figure.

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:52:52 PM   
juliaoceania


Posts: 21383
Joined: 4/19/2006
From: Somewhere Over the Rainbow
Status: offline
quote:

I guess my other question for you to a much lesser degree would be:  Why do you suppose when a handful of average, hardworking American people speak to the wonderment /bitch about the possibility of being gouged, why does a small handful of folks always run in and parrot propaganda from the corporate media that seems to justify such bogus prices


Polly Wanna Cracker?

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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 9:57:23 PM   
Sinergy


Posts: 9383
Joined: 4/26/2004
Status: offline
quote:

ORIGINAL: Archer

quote:

ORIGINAL: Sinergy


I still remember what the oil companies said when asked by Congress why gas was so expensive.

"Last year we made a profit of umpteen billion dollars, and without raising gas prices again we wont
make record profits this year."

Sinergy


Profit margin was still basicly the same it has been for the past decade though.
What margin on umpteen billion dollars invested would be acceptable for you before you consider it userous?



I just find it amusing that for all the Clinton bashing I read about, gas cost about two dollars a gallon when he was in charge, and since Monkeyboy took over it seldom drops below 3 dollars a gallon.

Democrats (read: low gas prices) bad, Republicans (read: high gas prices) good.

Sinergy



_____________________________

"There is a fine line between clever and stupid"
David St. Hubbins "This Is Spinal Tap"

"Every so often you let a word or phrase out and you want to catch it and bring it back. You cant do that, it is gone, gone forever." J. Danforth Quayle


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RE: "Gas prices rise to average of $2.55 a gallon&... - 3/12/2007 10:01:12 PM   
subfever


Posts: 2895
Joined: 5/22/2004
Status: offline 		I paid $2.42 for regular today in the Chicago 'burbs, Cook County.

Personally, I strongly believe that if our country played honestly on a level playing field across the globe, we would be paying a notably higher price for oil and gas. 

The main problem is that our economy has been built upon an assumption of cheap oil.

So what do we do; address the cause or continue addressing the symptoms?

edited for typo

< Message edited by subfever -- 3/12/2007 10:02:59 PM >

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