THE BORE
General => The Superdeep Borehole => Topic started by: Ganhyun on September 12, 2008, 12:39:43 PM
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http://money.cnn.com/2008/09/12/news/economy/gas_prices/index.htm?cnn=yes
Of course. Stations know people will need it so they jack prices up to get a bit of extra profit.
Not sure what the price per gallon is in Houston/Galveston/etc right now, but I know where I live, and this is sad because i'm in GA so why jack our prices up like this, the price jumped 40+ cents a gallon.
Yesterday at 1:00 p.m. Eastern, it was $3.55 where I live, all over town. At 5 p.m. yesterday, $3.80 all over town except the local Wal-Mart station, which hadn't changed its price. This morning? $4.00 all over town except Wal-Mart, which was at $3.75. As of 10 minutes ago? (12:17 p.m.) 4 bucks all over town and talk of it hitting 5 bucks this weekend, possibly 6.
Sigh.
Price gouging fucks.
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still 3.55 where i live this morning
which is about what i paid yesterday
alex va
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WHY DO YOU HATE CAPITALISM?! THE MARKET PREVAILS!
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$3.29 / gallon around here
I expect the typical price gouging. Lowering oil prices have put a damper on arbitrage. Hurricane Ike is like Christmas in September for these fucks.
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There's a rumor going around my department that Knoxville, TN hit $6.50-$8 /gallon today.
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Jesus
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Big oil wins again.
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WHY DO YOU HATE CAPITALISM?! THE MARKET PREVAILS!
SrSly Hugo Chavez pays his citizens to use gas. AM I RigHT?!??!? I meaN itS nOt LIKe the LAwS of SuPPLY aNd deMAnd mean any THing! How DarE peOplE try and Make the MONIES!!!!
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The cost of gas hasn't been about supply and demand for quite a while. Just fat oil execs getting fatter under the watchful eye of our big-oil-beholden political types on Capitol Hill.
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The cost of gas hasn't been about supply and demand for quite a while. Just fat oil execs getting fatter under the watchful eye of our big-oil-beholden political types on Capitol Hill.
I dont think so my friend. People are still paying $4.00 for gas. Why would you lower the price of something that will sell. Thats like paying workers less because they will work for less.
Eat that analogy Communist feggits. :punch :ussrcry
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A co-worker in Atlanta stated that one of the Oil pipelines running from the gulf up towards the Northeast got shut down. Maybe this is the cause?
Or part of it?
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A co-worker in Atlanta stated that one of the Oil pipelines running from the gulf up towards the Northeast got shut down. Maybe this is the cause?
Or part of it?
That doesn't explain why they are jacking up the price now. Petroleum processing isn't a snap process. It takes time.
I can understand raising the price if you are running a very small profit margin for oil but this is clearly a case of arbitrage. I remember at the company I work for, during the floods of the Midwest, we didn't jack up the price of gas and electricity because. In fact, the company took a financial hit and made sure the cost of energy and gas remained how it was. When oil companies are tracking record profits, raising the gas prices is not really acceptable, considering how other energy providers will take the financial hit instead.
Exxon may lose $100 million by doing this (if that) but the fact that they might make $11 billion in profit, they can afford to eat the costs. They don't because there's a lot of profit to be had from gouging.
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Yeah I'm sure the free market caused Ike and global warming caused the pipeline shutdown :bow2 (btw link for that?)
No partying this weekend :'(
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Yeah I'm sure the free market caused Ike and global warming caused the pipeline shutdown :bow2 (btw link for that?)
No partying this weekend :'(
Sorry, was just going by what a co-worker told me. But since Tenn is seeing 6+ a gallon, I'd assume its true.
I'd say the reason the prices are rising is not the oil companies, but the chains buying gas to sell competing with each other to get what gas is left (thus outbidding each other). They know that they wont be able to leave the price so high, so they jac kthe price up on the current stock to make back what they will lose for paying so much for the gas they are trying to buy now.
Thats my take on it anyway. I could be dead wrong.
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When it was $150 a barrel, gas here was $4.12-$4.25.
NOw it is roughly $103 a barrel yet the cheapest gas here is $3.63.
does not compute.
McCain/Palin want to put more platforms in that area too. smh
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Well, the intellectual elites that populate the great city of Kalamazoo saw it fit to line up around the block in their idling cars for gasoline that is $0.20/gallon less. 15 gallon tank equates to a total of $3 total savings, smh
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Well, the intellectual elites that populate the great city of Kalamazoo saw it fit to line up around the block in their idling cars for gasoline that is $0.20/gallon less. 15 gallon tank equates to a total of $3 total savings, smh
No one does the math on this shit anymore. I have a 10 gal tank and get 40 mpg. There is a BP right next to my place that is 7 cents a gal more expensive than the gas stations 5 miles down the road.
To drive those ten miles, it costs me one dollar (assuming $4/gal gas.) Although I'm paying an extra 70 cents to fill up, I'm also not spending $1 in gas to drive there and back. Not to mention time.
Now people who wouldn't stop and pick up a quarter on the street will sit in a parking lot or road idling for 10-30 min waiting for a pump so they can save 10 cents a gallon from the station across the street. That's $1 total for a ten gallon tank, $1.50 for 15. It's even more ridiculous to stress over minute price differences when you consider gas is $4 a gallon now. At least when it was $1 a gallon, you were saving 10% over your overall cost. At $4 a gallon that percentage savings is minute.
I would go to that BP every time I needed to fill up, except for one factor I didn't mention. They carry E85 gas which burns shitty in my Civic, it cuts my gas milage down 10% overall. In my case, it's worth the extra dollar in fuel to drive up and get real gas that burns better and more efficiently in my engine.
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Limited price controls and a worldwide ban on oil speculation. Why can this not happen? Not everything should be a completely free market.
I'll ignore the idiocy behind of the post and go straight to the logistics. Just how do you enforce a world wide ban on oil speculation?
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THe honor system?
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Quite frankly the speculators deserve every penny they are making, they are just exploiting the momentum factor. The herd mentality of the market and technical investors are the real problem. Investors should have been shorting oil futures when it hit $120 a barrel despite the contrary fundamentals
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lol, Michigan
(http://i35.tinypic.com/2wlrl1u.jpg)
All for gas that is $0.20 cheaper
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I'm so glad I'm at school right now and don't have to worry about driving.
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Me and my 650cc motorcycle laugh at you. Also one of the cheapest quality places to get gas is on my way to work.
Ya well, me and my FREE bus pass laughs at you!
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Yeah, I ride the bus to school 5 days a week as well, but my wife and I own an accord that she drives to work (30+ mpg though).
:bow public transportation :bow2
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this morning i checked the prices again just to be certain
they actually went DOWN two cents in my area
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I'll ignore the idiocy behind of the post and go straight to the logistics. Just how do you enforce a world wide ban on oil speculation?
I'll ignore the completely unwarranted insult in this post and go straight to the proposal: an international agreement to do so? Surely you realized that this was what I was calling for?
Edit: wait, you're a Republican, right? That would explain your propensity to hurl insults before attempting to rationally discuss things.
Don't politicise my threads please Green Shinobi, k thx. :)
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:( price up 20 cents
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10-20 cent hike here (From $3.39 to $3.49-$3.59). That difference in price was only about a dozen miles from each other.
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you guys should be happy. Its 4.39 a gallon where I live.
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people are actually getting in a lot of trouble. I heard it on the radio this morning. Quite a few Gas stations in Michigan are in the midst of a shit storm. :lol Detroit especially. (6$ per gal) yeah right.
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The pic was pulled from mlive, and it was originally published in the Jackson Citizen Patriot (my hometown), which is possibly a bigger shithole than Gary, IN. Enjoy your 5+ tanks of $4/gal gas you fucking dolts, oil was down again today. People in Kzoo aren't quite that dumb, but you better pack your bags anyways FA.
And say what you will about Granholm, at least she puts her foot down when it comes to gas price gouging. She did it on 9/11 and she did it last weekend as well.
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Oh, and I forgot to mention. Avoid Vine St, apparently it's flooded w/ 2 feet of water over the street. So yeah. :P
Might not be so now. but it was this morning.