Yesterday gas at my local station was $2.55 a gallon for regular. Today it's $2.74.
Printable View
Yesterday gas at my local station was $2.55 a gallon for regular. Today it's $2.74.
Your still .18$ cheaper a gallon then me!Quote:
Originally Posted by [AK]Squidly
Prices from region to region will vary. It's the one day jump that raises my eyebrow (and drew an email to the price-gouging website that NJ state Gov has set up.)
My Dad's girlfriend has a daughter who lives in Mississippi. She and her family weathered the storm but they say their town has no power and looks like a war zone.
She said that a local gas station was selling gas at $13.00 a gallon before he ran out and was eventually arrested by the police for price gouging.
President Bush has opened up the Strategic Petroleum Reserves to help with supply issues. This kind of scenario is exactly why the SPR was created. Good thing we didn't listen to those politicians (like my own Sen. Chuck Schumer) who were calling for us to use the SPR to push oil prices down. They might not be there today to help with this crisis.
I saw similar price increases to those Squidly reported all over town. The fact of the matter is that the minute crude oil prices climb, pretty much every single gas station immediately raises their price correspondingly. But once oil prices make their way back down, now "it takes time for a price change to make its way down to refined products like gasoline". Taking advantage of a tragedy like a hurricane is disgusting--but it's just business as usual for most of these places.
I've seen reports that the price will continue to rise throughout the week, and may well end up a full $1 higher in 7 days time.
Sweet!
It's mostly economics. We have extremely limited refining capability (Thank the enviro-terrorists) and we lost some of it in Katrina. Justified or not, that real, perhaps obtusely perceived, decrease in supply causes the price to go up.
I paid $2.46 on Monday... the same station is already up to $2.74 as of this morning. I have no doubt I'll see $3.00 by the end of the week... perfect for my trip to upstate NY this weekend. :rolleyes:
But don't worry.... we are in Iraq for the "cheap oil", it should be kicking in any day now.
Here Here!Quote:
Originally Posted by [AK]Hylander
My thoughts exactly.
Good when you pass by Ballston Spa you can drop my power supply off ;)Quote:
Originally Posted by [AK]Hylander
The gas that's sitting in the ground at your local gas station waiting to be pumped was purchased well before Katrina made landfall. Yet they jack the price up on THAT. I don't have a problem with oil companies making money, but come on...cut a brother a break.
Sent by blind carrier pigeon..... Never stop looking to the stars!!Quote:
Originally Posted by [AK]StitchJones
I don't ever remember hearing people complaining when they cut prices and they paid more for that gas in the ground. Just think of it as statistical smoothing.. a moving average. In 30 years when gas drops again, just remember that. ;)Quote:
Originally Posted by [AK]Squidly
Quote:
Originally Posted by [AK]Hylander
I posit that most gas stations don't lose money on the gas they put in the ground prior to a price break--the gas station industry in general is quicker to raise prices when crude goes up than they are to lower prices when crude goes down. That's all based on personal anecdotal evidence--I'd love to see some statistics that prove me right or wrong.Quote:
Originally Posted by [AK]The Beast
I think it's like any other business.. it depends on the independent store. I know the gas station I go to here in NJ lowers prices pretty fast, alot faster than the Exxon/Mobile/Texaco's in PA. But then again, it also depends on the owners. The Pakistani owned Exxon is generally 8 - 10 cents more expensive than the Indian owned one on my way to work. Yet I 'thought' their prices were limited by their contract with Exxon? :nerd:Quote:
Originally Posted by [AK]The Beast
$4 per gallonQuote:
NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.
"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"
Around here it has jumped more than 50 cents in one day before...
Suspicious? Yes. Do people still pay for it? Yes.
That's the damn problem. There has to be some sort of mass boycott that can be done about this. Or course I'm making myself sound like a n00b for trying to boycott the Oil industry. But comon, something has to give here.Quote:
Originally Posted by [AK]Slaughter
You are a NOOB!! We Americans sure are spoiled... LOL Let's say you "normally" spent $100 a month for gas. You now spend $200. A $100 increase... lets see. What is that really? 2 Video games a month? (I know some of you spend alot more than that!!) A dinner for 3 or 4? (I know many families who spend that a week, let alone a month). 1 movie ticket? ;) So does it suck? Yeah.. but put it in perspective.Quote:
Originally Posted by [AK]StitchJones
Nation City Price in USD Regular/Gallon
Netherlands Amsterdam $6.48
Norway Oslo $6.27
Italy Milan $5.96
Denmark Copenhagen $5.93
Belgium Brussels $5.91
Sweden Stockholm $5.80
United Kingdom London $5.79
Germany Frankfurt $5.57
France Paris $5.54
Portugal Lisbon $5.35
Hungary Budapest $4.94
Luxembourg $4.82
Croatia Zagreb $4.81
Ireland Dublin $4.78
Switzerland Geneva $4.74
Spain Madrid $4.55
Japan Tokyo $4.24
Czech Republic Prague $4.19
Romania Bucharest $4.09
Andorra $4.08
Estonia Tallinn $3.62
Bulgaria Sofia $3.52
Brazil Brasilia $3.12
Cuba Havana $3.03
Taiwan Taipei $2.84
Lebanon Beirut $2.63
South Africa Johannesburg $2.62
Nicaragua Managua $2.61
Panama Panama City $2.19
Russia Moscow $2.10
Puerto Rico San Juan $1.74
Saudi Arabia Riyadh $0.91
Kuwait Kuwait City $0.78
Egypt Cairo $0.65
Nigeria Lagos $0.38
Venezuela Caracas $0.12
Gas here in cincinnati just jumped 50 cents on the gallon, yet again.
I could give a flying f**k what they pay in socialist leaning countries. Yeah, Great Britian pays a lot of money for gas. They also get raped by Vat taxes and whatever else. That doesn't make me feel any better about Exxon jacking up prices by 20 cents for no reason other than *they can*.
I understand the reasons. I understand other folks have it worse. I get it. That doesn't make me any happier about it.
Settle down, Nancy. :D
Sounds like a personal issue then. :uzi:Quote:
Originally Posted by [AK]Squidly
I think you meant to say "Lighten up Francis" ;)Quote:
Originally Posted by [AK]Bribo
This is "settled down". Stop coaching me.
I'd have to agree with Squidster on this one.
Curse on thee for speaking such words of treachery. You want Nuts Jr to go hungry? The oil industry is not just some faceless entity bent on world destruction. The people that make up big business are your neighbors, the guy next to you in church, the guy in the grocery store.Quote:
Originally Posted by [AK]StitchJones
And while I can see how a comparison to other countries can be perceived in two ways (wow, we're lucky & so, that doesn't explain squat) at the end of the day all of this is circular. I charge more for gas. Your food costs go up. You demand more pay, The balance is retored. We sound like a bunch of old men... 'back when I was kid, gas was $.99 and we had to pull it out of the ground with straws!'.
That be said, gouging during a disaster is ruthless and the owner of those stores... be it a price increase on bottled water, batteries or gasoline should all be shot.
P.S. Remember, when you fill up your tank, you're ensuring that Nuts get a bigger bonus this year. Let's all pitch in and make sure he clears 14% this year!
I just wish people would put it in perspective is all. On the way home the lines at the gas stations were blocking traffic. HELLO?!?!? MCFLY?!?!? We aren't rations! When you use up THIS gas, there WILL BE MORE next week for you!
Have you heard about Atlanta and the "urban legend"? There was a rumor about a shortage of gas making it to Atlanta and the gas prices around the city are $4.99 a gallon. I guess the governor made an announcement to quelch it... but supposedly in GA there is no law against gouging.. if they want to charge $10.99, they can. I'm trying to find a link to the story or some more information on it. I did see an article about their governor asking people to remain calm and when I went to http://www.atlantagasprices.com, the highest price I saw was $4.75.
This is starting to compel me to do an economic 'report' on the economics of gas prices to see what I come up and if I can 'learn me'. Maybe publish it on my website and link it to Digg to see if it gets any traction. ;)
Just for the record, the gas station I buy gas at was still $2.49 on the way home from work in NJ. The Hess station was $2.61 and the Exxon was $2.79.
It's 3.29(up from 2.79) here up by UC in Cincinnati... in other areas of Cincy its as low as 2.99(also up from 2.79).
A month or two ago I was paying $40 to fill my tank. Yesterday it cost me $58.80.
Further, a recent change in my job will require me to commute 110 miles a day, at least 4 days a week.
Don't take this the wrong way, but screw your bonus, Nuts. This double hit is going to cost me roughly a car payment every month...
Prius here I come. :\
When I started driving gas was $.99. It cost me $10 a week to fill up my tank. That has more than tripled in the past 5 years(the amount of time I've been driving).Quote:
Originally Posted by [AK]Nuts
Thats gotta clue you in that something is wrong.
Update:
2 days ago: $2.55
1 day ago: $2.74
Today: $3.17
When I was a kid I could get it for $.50 for my minibike. I could also make a phone call for a dime and get a loaf of bread for a quarter. You could eat at McDonalds for $2.00.Quote:
Originally Posted by [AK]Slaughter
That's not a clue that something is wrong. It's called economics. Prices change. Always will, so you probably should accept and get use to it.
Lets enjoy an exercise:
I purchase 12 bales of hay for $12. I plan to sell them for $1.25 per. A tidy profit of $3 for me, ye ole hay distributor.
One of the hay fields I buy from suffers a lightning sparked wildfire. The farmer sez my hay will be $15 for a dozen next time I buy.
I raise the price of my current stock of hay to $1.90. The fire didn't effect the price I bought my current stock at...but I smell the ability to boost my profits. LOL! ROFL! LOL! ROFLMAO! SUCKAS!
Heck, it's Cow Day Weekend! Scratch that $1.90 stuff, I'm selling for $2.25! Moo Money Moo Money!
http://www.koshland-science-museum.o.../causes04a.jpg
I understand its economics, I've taken quite a bit of it.
Still.. the gas inflation rate in the past 5 years has been ridiculous.
Less economics, more English, please. ;)Quote:
Originally Posted by [AK]Slaughter
:bounce: :lol2: :egg: :bye:
http://img133.imageshack.us/img133/4453/gas25rt.jpg
Now theres some crazy gas prices.
Yeah yeah, typo... expect them when I just get up. :tongue:
Dude, what's your excuse when you make typo's in the middle of the afternoon ;)Quote:
Originally Posted by [AK]Slaughter
Quote:
Originally Posted by [AK]Squidly
If he sells you that hay at the same price as before the fire, what is he going to live off from when he has no hay to sell next year?? (Simplistic example regardless)
SUPPLY
DEMAND
When a restaurant decides to increase the price of it's cheesesteaks $.50, it doesn't wait until its inventory of chipped steak and cheese runs out before it decides to increase its prices?
I find the part about people whining about the "oil in the tank didn't go up in price" aspect pretty laughable personally. I don't seem to hear anybody bitching about the value of their properties going up? If you plan to sell, are you going to sell to the buyer at the price you paid ten years ago with a small fixed mark-up? Why not... the expense you paid for that house didn't go up in the past ten years? You still paid the same price for it......
If you buy a stock, are you going to sell it at only a 10% margin, even the market demands a 50% margin just because of your cost basis? If so.... please don't participate in the market economy. You will be on the short end of the stick.
But I've come to realize that trying to explain economic concepts to people is fruitless, whether they understand them or not.... people just want to whine and bitch and they are going to do it regardless of any explanation.
This article pretty much sums up my position on the matter. People are still spending.. they are even going into negative savings to consume. We are SPOILED. We would rather go into debt, (and bitch about it!!!), than cut our consumption in an area that is not a necessity. God forbid!
wow the price of gas is high.
Economics is a complicated subject that I prefer to avoid. I let you guys tell me what is best, and I'll stick to something a little easier to comprehend, like learning Italian.
Hillbilly Perspective:
But, in this case, I must say I agree with Squid. Gas has a fast increase in price, and a slow steady decrease. I don't enjoy paying 33% more for a product because future supply may decrease, causing an eventual increase in cost. Instead, they attempt to cover that potential increase in cost by raising the price on past purchases. To the normal "No-MBA Joe" it doesn't seem fair. I always hear "I have no control over the gas prices. They are set by the oil industry." Then why is there such a fluctuation in prices within a 10 mile radius? I've seen prices ranging from $2.95 to $3.31.
As far as cost for all items increasing, yes, that's true, I and everyone else knows that price increase will always occur. I do have to admit that there seems to be a faster pace of price increase of consumer goods over the past 10-20 years. Faster than expected I'd say, but again, I'm not an Economist.
End Hillbilly:
So, what do we do? Do we pay $4.00+ next week/month? How high is too high? And what other options do we have?
Quote:
Originally Posted by [AK]StitchJones
Depends, I may have just gotten up in the middle of the afternoon. ;)
First off, I don't disagree that it "sucks", and you know the part about life being "fair". ;) I have to pay for the same gas you do, but I just knew the day would come when this would happen again. It will go back down at some point, then back up again. The "problems" have always been there.. it was just a matter of when. The difference now than in the 70s is we don't have shortages or rations (outside limitations as a result of Katrina).. we just have huge crude oil prices due to numerous factors. Even though Bill O'Reilly thinks the government should put price caps on oil companies, that doesn't solve the problem and is "un-American" in my book. We are a capitalist, market economy. "I" happen to believe in that system, even if it's not socially fair or politically correct. I also realize it effects people in the lower income brackets much more than those at the middle and higher end. It's like that with any product and services, although gas tends to be more sensitive to personal reactions.Quote:
Originally Posted by [AK]Choozoo
We have no real energy policy in this country. Blame on both sides of the Isle.. I don't care which side you are on, both have ignored the problem for decades. The right don't want taxes and more environmental restrictions because they are more hands off, and realize that restrictions increase the cost of entry, cost makers money to meet those new standards. If they don't meet them, they have to close the facility and/or open new ones. Well, since we haven't seen new refineries in 20 years, you can guess what the option is. (This discussion is going on in the Seahawks newsgroup as well <G>). Look at it form a business point of view. We know the the right is business friendly. As a business, I can invest tens of millions of dollars to upgrade a facility to meet new standards, or I can perhaps build a refinery in another state with less restrictions than say California.. or perhaps another country if it makes economic sense. OR.. I can simply close the plant, reduce supply, and my margins increase by simple "economic supply and demand"? Now, if you are running a business, which BUSINESS decision would you make? Remember, this is like people with insurance companies, these companies have profit motives.. they are in business to make money. (Gouging allegations aside for now).
The left believe we can "conserve" resources, which I think is lame in any real terms of making a significant change. Just look at the article I posted above. In July, consumers kept spending into negative savings territory. They also believe global warming is out of control, humans are destroying the planet, etc They believe we have "moral" reasons to conserve and that things like CAFE make a difference. I happen to disagree.
Chooz, you ask a very good question, the million dollar question.. at which price point will consumers begin to change their usage habits? Two years ago they said $2.. didn't happen. Is it $3? $4? $5? Who knows.. but voluntary action is going not going to happen until its absolutely the last resort with Americans. We consume.. it's what we do best. ;)