[bob1]

OK folks, how about an updated March gas price survey.
It is so crazy this morning, I gassed up my Altima with high test gas at 2.08 per gallon. I took the MO over to the station tonight at 2.03 per gallon! At least it's going down but a few weeks ago I was paying 1.89 for high test! The station was Phillips 66, I'm sure Amaco was a few cents more. As of today in my area, Phillips three grades are USD 1.83/1.93/2.03 per gallon.
Bob1

 

[Kris]

Passed Kruger today - $2.15 premium!

But then again I saw $2.50 at Maui.

 

[NV Lady]

Here in Nevada (Reno), we are paying @ $2.40 for a gallon of premium...lots of taxes on fuel here..

 

[Murano_driver]

Price just went down a little bit here in NEW YORK….$2.29 for 93(premium), $1.99 - in New Jersey

 

[hfelknor]

Wait till later in the week.
And don't cry.
I hate seeing grown people cry.....

Homer:1:

 

[jaycen29]

I paid $2.49 this morning, costs like 50 bucks to fill up the MO. Just wait till the weather starts to get nicer, then they will really hike it up. Anyone ever notice how they do this. The prices will take a steep jump say like 30-40 cents then after a while they go down maybe 20 cents and we are all so happy that it went down 20 cents that we forget that we are still paying 10-20 cents more than before. That is how they get us, damn evil oil companies. :3:

 

[Stoker]

I paid $2.49 this morning, costs like 50 bucks to fill up the MO. Just wait till the weather starts to get nicer, then they will really hike it up. Anyone ever notice how they do this. The prices will take a steep jump say like 30-40 cents then after a while they go down maybe 20 cents and we are all so happy that it went down 20 cents that we forget that we are still paying 10-20 cents more than before. That is how they get us, damn evil oil companies. :3:

I work for one of the Quote("damn evil oil companies") unquote. while we think it is their fault that gas prices are so high, it is caused by the price of crude oil that the NYMEX exchange sets. The marketers there cannot seem to handle any risk and then put in the Hedge fund buyers that are buying oil to hedge the price the oil up so that there shares prices will go up regardless of the fact that crude oil storage is going up in the USA.

The other reason that gas prices go up in the summer is due to all of us driving more in the summer on holidays or whatever. The demand for gas has gone up alot ovwer the last 10-15 years, however there has only been one oil refinery built during that time and up to ten closed. So if you cannot produce the gas from crude oil, the amount you can make is lower that the demand and therefore open market prices will go up accordingly.

The next time that there is a refinery that shutdowns or bad weather cuts off supply of crude oil or there is a attack on the oil fields in the middle east watch how fast the price of oil goes up in New York wher once more the culpruit is THE PRICE OF THE CRUDE OIL is what causes the price of gasoline to go up.

 

[sebrex13]

Just paid $2.37 for the good stuff. Up from $2.15 last Tuesday. Seattle, WA.

 

[jaak]

I tracked what I was paying at one point, and frankly, it was just too depressing. So now, I just buy gas when I need gas and try not to think about it.

Besides, I'm sure I could save much more money by not spending it on other frivilous things... But I could be dead tomorrow too, so fill 'er up, I've got some driving to do!

 

[95se]

Stoker- In the instance that crude oil prices shoot up and gas prices quickly follow, why is it that when crude prices decline back to previous levels, the gas prices very very very slowly decrease, and usually not all the way to their previous levels? I don't typically get too irritated with rising gas prices, becaues I can see the reasons why, but it seams they make large profits by turning small spikes in crude prices into long spikes in at-the-pump prices....

I'm not bashing, I'm just curious about how that works.

 

[Stoker]

Stoker- In the instance that crude oil prices shoot up and gas prices quickly follow, why is it that when crude prices decline back to previous levels, the gas prices very very very slowly decrease, and usually not all the way to their previous levels? I don't typically get too irritated with rising gas prices, becaues I can see the reasons why, but it seams they make large profits by turning small spikes in crude prices into long spikes in at-the-pump prices....

I'm not bashing, I'm just curious about how that works.

I don't know how it works down in the USA but up in Canada it usually takes 90 days for gas prices to go up or down as this is how long it takes for the oil priced today to go through processing and then hit your local gas station.

I wish I could say that it is as easy as that but there is thing called local market conditions. The price of fuel can priced differently between cities and towns as much as $.10/ltr. I recently took a road trip to my favourite ski area in Fernie B.C and the Shell station at the entrace to the pass was selling gas at $.07/ltr less than in Calgary ( about $.30/gallon less) so again market conditions can drive the price

It also depends on how much storage there is at the refineries or pipeline tank stations. If the system is flush with gas the price should go down due to market conditions. I know on the east coast you guys are still using fuel oil to keep your house warm. To produce this type of fuel oil distillate the refinery will make more home heating oil instead of gasoline. This usually happens in the fall after the summer driving season as the refineries gear up for the winter .

But again it still boils down to the price of the oil and the precived consumption of oil. You can imagine what the price of oil would be if the demand for oil dropped by 5%, interesting question. Imagine also that if we drive 5 miles and hour lower and you reduced your fuel consumption, this would go all the way back up the oil chain back were the price is set in the NYMEX and there would be a sharp drop in the price of oil and maybe the hedge funds and the marketers would lose for a change. My opinion only but what a message to send to them.

The report I get on a daily basis which includes a report from your Dept of Energy indicates for the week ending Feb 25th that crude oil stocks increased by 2.4MMB to 229.4 MMB (MMB means million barrels) Distillate inventories decreased by 1.8 MMB to 110.0 MMB. Gasoline inventories, at 224.5 MMB have increased by 1.0MMB since last week. Residual fuel oil inventories decreased by .2MMB and now stand at 38.2 MMB. Overall, US inventories have increased by .4 MMB, at 951.0 MMB

So as you can see the price of oil is very senseitive to alot of things. I could go on but I hope I was able to answer your question

 

[bob1]

So as you can see the price of oil is very senseitive to alot of things. I could go on but I hope I was able to answer your question

Very informative, thanks Stoker.
The problem in the USA with price stems around the news of the day. If for instance there was a refinery fire or pipeline break, well like magic, the pump price shoots up 12 cents a gallon within a few hours. Of course the gas in the tank at the station was paid for at whatever the old rate was. We as customers know we are being bamboozled and resent that tactic. When the news is the other way such as a bust on pricing and crude falls, well the price inches down a penny here or there over many weeks. This may be a problem we face in the lower 48 but maybe they don't do that up in Canada.
Anyway Stoker, thanks for the Canadian explanation.
Bob1

 

[mgthe3]

here here!

I filled up the other day at Costco, my most expensive tank so far, 1.99.9 a gallon. Why don't they just say 2 bucks, prob save all kinds of ink and labor to make the extra digits.

hehe
:2:

 

[CopperKat]

Filled up today @$2.37 for 87 grade Chevron fuel. The Mobil at the next corner was charging $2.66 for 91

 

[UncaDanno]

Couple of "explanations" I have noticed over the past several years (since the mid-70s).

Gasoline prices go up immediately, or sometimes just before, when crude prices go up. "We have to pay the higher prices now, so we MUST pass that on to the consumer."

Gasoline prices seem to take forever, if at all, to go down when crude prices go down. "It takes at least six months for the lower-priced crude to reach the consumer."


Can you say "duplicity"?



A couple of my favorites:
"Demand is up so the law of supply and demand dictates we MUST raise prices."
"Demand is down so we MUST raise prices in order to stay profitable/be viable in today's market/survive the free-market economy/survive the consumers' stingy ways."



In other words: "We're raising prices. Because we CAN. And we know there's not a single thing you will do about it. Besides whine, of course."

 

[ZBoy]

I remember when it was 69 cents a gallon for 87 at the local station.

That was back in the 90's.
<insert political statement here>

 

[UncaDanno]

Make me feel old, ZBoy....

When I started college, you could fill up a 20-gallon tank for eight bucks (.399 a gallon).

When prices hit .60 a gallon during the 70s oil "crisis", I wondered how I was going to get around since I would have to quit driving if gas got over .75.


I take that back. Not so much feeling old. More like somebody just smiled and said "Bend over."

Again.

 

[mgthe3]

ur feelin old?
HA
I remember changing the sign to .26 a gallon when I was a 15 yr old bell hop at a hotel here.

 

[ZBoy]

Wow.. you all ARE old :2:

<--26.. if it makes you feel better my dad is 47...

 

[mozman]

Near me (in NJ) $1.819 for reg (+$0.10 per grade up). 2 days ago it was $1.799, and a few days before that $1.729. I smell a baaaad trend.