Fuel price INSANITY!

[Joe Pelonio]

That has to be gouging, in the storm area. Ours hasn't been lower in a long time. Yesterday while on a job near Olympia it was $3.69, today my local station is $3.82, and we have state sales tax 8.9% and an extra 9 cents gas tax included in that, making our prices among the highest usually.

[Colin Giersberg]

Alabama's Governor Bob Riley has enacted anti-price gouging measures. I don't know what fines, if any apply for violaters.
While at work today (AL. Dept. of Transportation), a couple of contractor's personnel received phone calls from their wives, saying that prices were going up. One said that gas near his house was $5.38 a gallon on regular gas. The price yesterday was around $3.50, so that is a substantial jump. Fortunately, diesel seems to be staying about the same. One station had it for $3.94 and now, it is $3.99 a gallon.

[Jason Roehl]

If a sultan breaks wind, our gas prices go up. My last fill-up in my pickup was the cheapest in quite a while at $3.59 or $3.65/gal (can't recall which it was). Today on the way home from work, I was seeing $3.89/gal prices around.

[Matt Ocel]

$339.9 on the way to work this morning.

$369.9 at lunch.

I don't even want to drive by this evening.

[Gary Max]

The price of gas has went up here in Kentucky 40 cents per gallon today-----Just think of the folks who made a killing off this today. I wonder if they even care about the lives they affect in by making all this $$$$$$$$ or is that just business????

[Belinda Barfield]

Fortunately, diesel seems to be staying about the same. One station had it for $3.94 and now, it is $3.99 a gallon.

Diesel has stayed about the same here. I suspect that will change pretty soon. If it stays down I'll be really sorry we sold our old diesel Suburban "campin' wagon" about three months ago.

[Brian Elfert]

Most gas prices around where I live haven't gone up yet, but the local gas price website is showing a lot of stations going up 15 to 20 cents a gallon.

Now, I am in Minnesota and we have two refineries supplied by an oil pipeline out of Canada.

I'm leaving on vacation in about ten days and of course prices go up. I'm going to use around 500 gallons of diesel to make the trip.

[skip coyne]

3.65 this morning , 3.85 this evening , wifes friend who owns a convince store told her there would be a HUGE jump tomorrow

I just filled both vehicles , I figure its not going down , wont go bad and we will use it

[Pat Germain]

No doubt about it. High gas prices are a pain. But consider a few facts:

- Oil is an international commodity. The price for "light sweet" crude is the same everywhere in the world

- The price of oil is based on the US dollar. When the value of the dollar is down, the price of oil goes up and vice versa

- Oil must be refined to get fuel and doing so is expensive. Out of a 55 gallon "barrel" of oil, only a certain percentage of it can be refined into gasoline or diesel

- The price of gasoline is based on supply and demand. The supplies of crude internationally and the supplies of refined gasoline in a local area affect the price. If gasoline supplies in one area are cut off, gasoline must be pumped or trucked in from another area which adds to the cost

- Fueling stations make little or no profit i]on the gas they sell. That's why they have stores to sell other things which do bring a profit

- Passing anti-gouging laws are feel good measures which will have no affect. "Gouging" by oil companies has literally been investigated by Congress multiple times and it always comes to nothing. You might as well pass anti-gouging laws for gold or shares of Disney stock

- Communities and states who add extra taxes and pass laws demanding special fuel blends can expect higher prices. Both of these reasons are primary factors for the higher cost of gasoline in California

- When gas prices go up, it doesn't seem right to charge consumers more for the fuel in the ground tanks. After all, the wholesalers didn't pay that much for it the week before. Yet, just the same, when the price goes down, the gas in the ground tanks cost more the week before and is sold for less

- So-called "big oil" companies like Chevron, Exxon-Mobil and BP are large companies, but are really just chumps in the international oil market. OPEC are the big boys and they affect oil prices, not big oil. OPEC members aren't just Arab nations. Venezuela is an OPEC member. When OPEC reduces output and prices go up, big oil makes more money. When OPEC increases output and prices go down, big oil makes less money. Big oil has no influence on OPEC. OPEC nations do what they want to include cheating by producing more than they agree on

- If you can get to Mexico and can find quality gasoline, buy it. Mexican gasoline is subsidised by the government. You can benefit from this subsidy simply by filling your tank across the border

[Kevin Arceneaux]

No doubt about it. High gas prices are a pain. But consider a few facts:

- Oil is an international commodity. The price for "light sweet" crude is the same everywhere in the world

Actually this is not correct. While prices remain close, at the different "hubs" the price will vary and the price is FOB.

- The price of oil is based on the US dollar. When the value of the dollar is down, the price of oil goes up and vice versa

- Oil must be refined to get fuel and doing so is expensive. Out of a 55 gallon "barrel" of oil, only a certain percentage of it can be refined into gasoline or diesel

- The price of gasoline is based on supply and demand. The supplies of crude internationally and the supplies of refined gasoline in a local area affect the price. If gasoline supplies in one area are cut off, gasoline must be pumped or trucked in from another area which adds to the cost

- Fueling stations make little or no profit i]on the gas they sell. That's why they have stores to sell other things which do bring a profit

- Passing anti-gouging laws are feel good measures which will have no affect. "Gouging" by oil companies has literally been investigated by Congress multiple times and it always comes to nothing. You might as well pass anti-gouging laws for gold or shares of Disney stock

- Communities and states who add extra taxes and pass laws demanding special fuel blends can expect higher prices. Both of these reasons are primary factors for the higher cost of gasoline in California

- When gas prices go up, it doesn't seem right to charge consumers more for the fuel in the ground tanks. After all, the wholesalers didn't pay that much for it the week before. Yet, just the same, when the price goes down, the gas in the ground tanks cost more the week before and is sold for less

- So-called "big oil" companies like Chevron, Exxon-Mobil and BP are large companies, but really just chumps in the international oil market. OPEC are the big boys and they have much more to do with oil prices than any of the "big oil" companies. OPEC members aren't just Arab nations. Venezuela is an OPEC member

- If you can get to Mexico and can find quality gasoline, buy it. Mexican gasoline is subsidised by the government. You can benefit from this subsidy simply by filling your tank across the border

A lot of information
http://www.gravmag.com/oil.html

[Eric Larsen]

We've got a 14-year old sedan that still gets 28mpg, so we're going to drive it until the wheels fall off, then buy a plug-in hybrid. A 5kw solar system has been on order for a few months now. Can't wait 'til it is installed.

Then I'm going to take a picture of my posterior and mail it to the CEOs of WrExxon-Mobil, BP, Petrobras, etc.

Same thing every couple months:

"There may be a hailstorm in Galveston next week, so gas prices are going up today."

"Sure, crude has gone down, but the gas in the tanks was produced at the old rates, so we have to sell that first before we can lower prices."

It's been the same-'ol as long as I've been alive. I wish they'd just admit they're reaming us because they can. I prefer the honest approach.

[Pat Germain]

A lot of information
http://www.gravmag.com/oil.html

Interesting. Although, most of the information on the page is dated by several years. And I somewhat disagree with the linked page claiming OPEC has no control over prices.

[Belinda Barfield]

I prefer the honest approach.

Yeah, Eric, what you said!

[Pat Germain]

I can certainly understand the anger people have over gas prices. But I really don't think it's fair to paint oil companies as evil cons shouting "Moo-hoo-ha!" over our pain and suffering.

I have no affilliation with any oil company. I know they spend tens of billions of dollars every year in operating costs. They employ tens of thousands of Americans who make very good salaries. They make sure gasoline and diesel are available in even the most remote parts of the country. Although gas prices are high, when was the last time you couldn't find any to buy?

Are lumber mills being dishonest with us when they raise the price of teak, oak or bubinga? I don't like paying $8.00 a board foot for hard maple, but I don't think the lumber mills are cheating me or being dishonest with me. If America consumed as much hardwood as we do gasoline, lumber mills would be making just a much money as oil companies. Would that make them evil?

I think the fact we're so dependent on gasoline makes us feel cheated. Should oil companies sell gasoline for less than the market value?

[Belinda Barfield]

If America consumed as much hardwood as we do gasoline, lumber mills would be making just a much money as oil companies. Would that make them evil?

With all due respect Pat, if hardwood was essential to survival, as gasoline is to some people, then making that much money would be wrong. I won't call the oil companies evil, but raising the price in times of disaster is wrong. The profits already made by "big oil companies" should allow them to ride out a small bump in the road. Having said that, I am aware that a loss of a refinery is not a small bump; howevef, a few days of down time would seem to be small.