Gas

[Teegate]

The price of gas is really annoying especially since there is no real reason for it. Nothing has happened yet and the corporations are already using this as an excuse. In any event, for the first time since I owned this car I checked the gas milage this week. I only went 121 miles and filled it up because I most likely will not need to fill up for two weeks and wanted to get the price while it was still low. So I went 121 miles and used 4.55 gallons which turns out to be 26.6MPG. I really can't see how in the future it would benefit me to buy a 4x4 with the amount of miles I have to drive just to get to and from the pines. I would be spending quite a bit more than I already do.

Guy

 

[this_is_nascar]

I never understood the philosophy of what controlled gas prices. I can not, to this day, figure out how a gas station can raise their price of the same gas that's already bought and paid for in their tanks. Also, the ability to jack the price whenever they want each day for whatever reason they want. Last week I watched our local Lukeoil go from $3.39 to $3.49 in the blink of an eye. When I passed the station in the morning, it was the $3.39. On my return trip, 3-hours later, it was $3.49.

 

[Jerseyman]

Gasoline and oil price setting is based on a complex paradigm. While there is little doubt that petroleum corporations take full advantage of price shifts, it is a proven policy construct that just a hint or, better yet, a more direct threat by the United States to tap more of its own domestic sources will cause the price per barrel for oil to tumble like a rock off a mountain. Gas prices will drop by $1.00-1.50 per gallon if the federal government and the current administration would allow U.S. oil suppliers to drill new sources. In 2010, the United States imported just under 50 percent of its domestic oil needs, down from near 70 percent in 2005. A further reduction of just 5-10 percent would place incredible downward pressure on the world’s petroleum marketplace. Most U.S. refineries are exporting a goodly percentage of its refined gasoline production due to the continuing soft American market for product and the higher prices and profits available overseas.

 

[Teegate]

I worked in a gas station during the gas crisis in the 70's and learned quite a bit from it. Lets say the gas prices are steady at $1 a gallon and the gas station charges $1.05 a gallon. For every gallon he sell obviously he makes 5 cents. Lets also say the station gets gas once a week on Saturday. This goes on each week and everything runs smoothly. Then one Friday the company calls and says they raised the price 10 cents a gallon and when they come the next day they want the extra money. With Sunoco we had to have that money in hand when the gas truck came, either in credit card receipts or check. With many stations running week to week with cash like we did, coming up with the extra money was tough. So the earlier they called and told us there would be a price increase, the earlier we could raise the price to have the extra money when it arrived on Saturday. If they called on Friday night there was no time to get the extra money and we on one occasion had the truck pull away without dropping off. Sunoco took no prisoners. So all of the profits for that week were lost if they called us late. My boss had be very in tune to what was going on and as soon as he had suspicions the price was going up he had to take action and hopefully guess what it would be. I believe that is the reason that today you see the price go up every day. With the profit margins for the stations not being extremely high, the cost of 7700 gallons of gas going up 10 cent a gallon ($770) is sometimes more than certain stations can afford. And if they do it a few weeks in a row many of them are hurting. I know that is hard to believe but I saw the hurt first hand. I was working when the Sunoco rep came and my boss came over to me and told me to go home. I stayed and packed up his truck and the door was locked by the rep as we drove away.

Guy

 

[dragoncjo]

Gas prices are going up because of traders bidding prices up in the market, totally artificial. Media is throwing fuel on the fire by constantly talking about 5 per gallon and nonsense in the middle easst. Everything is inflating again just like last year, including commodities, equities, etc, gas is going up with it. Look on the bright side as gas prices go up so does your 401ks and stocks...that is until gas prices go too high and start impacting GDP, which sends the market and your 401ks lower. I anticipated the higher gas prices and bought some Petrobrasil (PBR), nice correlation with retail gas prices and it hedges my pine barrens/work gas expense. Wonder if I'll ever pay .99 cents again like I did in 99.

 

[Boyd]

Wonder if I'll ever pay .99 cents again like I did in 99.

It will happen when your income also drops to what it was in 99.

 

[bobpbx]

Gas prices will drop by $1.00-1.50 per gallon if the federal government and the current administration would allow U.S. oil suppliers to drill new sources.

Interesting. Do you have a source for that claim Jerseyman?

 

[freerider]

The oil industry maintains the exports are necessary because domestic demand is weak. The industry says if refiners could not send American-made gasoline to China, India, Europe, and South America, the refineries would have to close as several have already done on ?...

http://www.csmonitor.com/USA/2012/0223/As-gas-prices-rise-should-US-oil-industry-stop-exporting

 

[Dragonfly Whisperer]

Speculators, just like last time

 

[PancoastDrifter]

They are driving up prices only because they have buyers at that price. If they can read charts and listen to the sabre rattling of insane politicians and the talking heads on your tv mind control boxes, that might be a good reason why. Of course, politicians would use any talking point to avoid mentioning inflation or plain old fashioned uninformed .... misinformation (take in the part about Brazil & Mexico).

 

[46er]

GM halts production of Chevy Volt. Has the fat lady sung?

http://jalopnik.com/5890072/gm-halts-chevy-volt-production-because-sales-suck

As far as gasoline prices go, I don't think it helps the consumer much to have an Energy Secretary that wants USA gasoline prices to rise to those in Europe to help curb our gasoline appetite.

One quick way to reduce the price is to remove the fed and state taxes on a gallon. Would drop the price per gallon by 33 cents here in NJ. But still over $3/gallon for regular.

http://www.api.org/Oil-and-Natural-...Files/Statistics/gasoline-diesel-summary.ashx

 

[bobpbx]

As far as gasoline prices go, I don't think it helps the consumer much to have an Energy Secretary that wants USA gasoline prices to rise to those in Europe to help curb our gasoline appetite.

That is an interesting comment you've posted there 46'r. If I read it right, you are saying that the Engergy Secretary hopes gas prices in the USA rise to curb our gasoline appetite. How would that work, and why would that satisfy him?

 

[46er]

That is an interesting comment you've posted there 46'r. If I read it right, you are saying that the Engergy Secretary hopes gas prices in the USA rise to curb our gasoline appetite. How would that work, and why would that satisfy him?

Yep, and they are his words in an interview with the WSJ. You would have to ask him how it would work and why he would be satisfied since he doesn't return my phone calls. Perhaps you will have more success I am personally mystified by the statement. To me it seems to be a green light for the oil companies to set what ever price they want, damn the consumer.

http://online.wsj.com/article/SB122904040307499791.html

Have not heard much about heating oil due to the mild weather, just imagine if the temps were like past years. NJ's current fuel oil price per gallon is around $4.25.

 

[Old Crazy]

That is an interesting comment you've posted there 46'r. If I read it right, you are saying that the Engergy Secretary hopes gas prices in the USA rise to curb our gasoline appetite. How would that work, and why would that satisfy him?

Energy Secretary Chu and his boss want the price of gas to be high to try to force people into using mass transit and buying cars like the 21st century version of the Edsel, the Chevy Volt. It's a little easier for statists to control the dumb masses when they can't move about so freely.

We need a president who is committed to developing America's vast energy resources to make the USA energy independent, not a president who, in an attempt to garner support among the extremest elements of his political base, cancels a stable source of pipe-lined oil from our friendly ally in Canada and uses high gas prices as a platform to foment class warfare by calling for higher taxes on the evil, profiteering oil companies. A high school freshman in his first economics class has enough sense to know that raising taxes on a product will have the effect of raising the price of that product. If Obama announced a plan to develop America's natural resources and make the country energy independent, OPEC and the oil speculators would piss their pants and the price of oil would plummet in an attempt to try and dissuade us from drilling.

I'm all for developing alternative energy, but to replace oil, natural gas and coal with far less efficient green energy sources at the infancy stage of their development is economic suicide. Without affordable energy we will not have a healthy economy that creates jobs.

 

[ecampbell]

Just because the oil is produced in the US doesn't mean it will stay here.

 

[bobpbx]

I am personally mystified by the statement.

It is not a mystery to me why they say that. Whether I agree with it or not (which is a different subject for discussion), they would like prices to be high in order to create consumer demand for transportation and heating services that are less costly. In other words, push the market to create new products that either use less gas (oil) or use an alternative fuel.

You could go on to make the great leap that they want to get us off the oil teat in order to create a more stable world that is not always worried about the day the oil runs out.

 

[46er]

They would like prices to be high in order to create consumer demand for transportation and heating services that are less costly. In other words, push the market to create new products that either use less gas (oil) or use an alternative fuel.

You could go on to make the great leap that they want to get us off the oil teat in order to create a more stable world that is not always worried about the day the oil runs out.

I doubt you would find that the alternatives available would be less costly. Ever price out a solar system or wind generator, a 40mpg vehicle? They aren't cheap. Buying a new efficient car, as the Prez has suggested, makes no sense unless the current one needs replacing. Remember there are roughly 17 million out of work, thats the U-6 number no one talks about. I would doubt any of these 17 million can afford higher costs or can wait for less costly alternatives to be developed and brought to market, cause there certainly aren't any available right now. A plan would be nice.

On the second point; I doubt that as well. The world has always, and will remain for a minimum of my lifetime, a very unstable place, and not just because of fossil fuel.

 

[bobpbx]

On the second point; I doubt that as well.

You would doubt it if I told you the sun would come up tomorrow 46'r.

 

[46er]

You would doubt it if I told you the sun would come up tomorrow 46'r.

That I would believe, as nothing government is associated with it

 

[Gibby]

Teegate, I don't know if you need a 4x4 for the pines, unless you want to do serious offroading. I have a locker rear in my truck and good all terrain tires. I never had to put it in four wheel drive for a normal drive through the woods. Take in consideration that I benefit from ground clearance and gearing too, but it isn't extreme. You had a Landcruiser, reflect off your experience with driving it. I am actually getting away from a 4x4 and getting a TDI Volkswagon shortly because of my truck being a "pig" on gas. I can get to all of the places I already do with a front wheel drive car and get better gas milage doing it.