Gas prices

[otis24]

All of the news reports that I see say that oil prices are down and that gas prices are dropping and should get below $3 per gallon. So why do gas prices in my town/state keep going up? Up from$3.45 to $3.55, and thats for the ten percent ethanol.

 

[RightArm]

We're already below $3 per. From what I understand, you should be there by November or December. I think Texas and Louisiana are first on the curve.

 

[gunfighter48]

So why do gas prices in my town/state keep going up? Up from$3.45 to $3.55, and thats for the ten percent ethanol.

Because the gas companies make a fortune every summer. The kids are out of school, weather's good, people going on vacations. People drive more in the summer/good weather. This happens every summer and people seem to forget that every summer. As soon as Labor Day passes, gas prices drop sharply because the summer travels season is over.

Gas prices in my part of Washington (Seattle - Everett area) were at $4.19 gal just 3 weeks ago. They have dropped some to $3.89 this week. Plus our gas tax is the highest, or in the top 5 highest, in the nation.

 

[LouisianaJoe]

Some states require special so called pollution control blends that push the price up.

Tonight I saw a station here with regular for $2.98.

I saw ethanol free regular for $3.25. I use that when I can because my mileage is 10-15% better with no ethanol.

 

[JcMack]

Gas here is $3.28. It was a little over $4 a couple months ago. Sometimes it goes up as much as $0.30 overnight. However a $0.30 downward move would take a couple months. I'm designing a car that runs on BS. There's enough of that surrounding the oil industry I figure a car that runs on BS would get an infinite number of miles per fillup.

 

[fat tom]

Filled up this weekend for $2.82. That was on the coast. In the upstate,it's $2.69.
f.t.

 

[Lenny_D]

Gas prices are $3.53 for reg. up here in upstate NY. The only reason I see for all this "talk" by the media that gas is going down is to promote the current administration's bid for re-election. It irks me that the media, gas companies and our current administration wants us to believe that $3.00 gas is cheap!

 

[Rangerpat]

Regular gas priced at $3.19 a gallon here in Tampa, FL.

 

[Arik]

SE Pa bas been at $3.40 for about a month now

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[Stevens]

$2.95 here in Thibodaux - Houma, Louisiana area, the name brands are higher.
Steve W

 

[sheepdawg]

Saw $2.97 yesterday.There's an election coming, look for it to go down farther. On November 7 it will start to go back up.

 

[zonker5]

3.15 or so in the Dallas area last week.

 

[captorquewrench]

Depending on what part of town I'm in I've seen it as low as $2.98...in some parts of town they haven't gotten the memo, and it was $3.89.


Same day, same town.

 

[2001gmc]

Down to $3.23 here was $3.89 forever seems like.

 

[A10]

We were above 4 bucks for a long time, and were rapidly approaching 5. I paid 3.49 this morning. It would be nice if gas cost less than milk again!

 

[Stukaman]

3.35 for diesel in my part of Fort Worth

 

[novalty]

In Portland, ME I've heard the lowest price is around $3.23. On my commute to work (further in-land) I drive by prices that range from $3.45 to $3.51.

 

[pharmer]

$3.09/9 out here, expect $2.50 around the election, after which the "shortage" will hit and send it back to $4/gal. Joe

 

[JcMack]

Lots of stuff going on in the middle east. Doesn't Egypt control the Suez? The high gas prices predicted for this spring could very well be double those predictions in 6 months.

 

[Martimus]

Sadly I believe gas prices will continue to drop... and then mysteriously start to rise significantly after November 7th.

 

[P&R Fan]

First hurricane we get (which of course is our fault because we drive SUVs that cause global warming) and the prices will spike again.
It will take quite a while before they go down again.
Jim

 

[McBear]

To the OP's question of prices in SD...look at the distributor costs and closest refinery. They may just be keeping things artificially high. Or they may have a real supply problem in that region.

As for the national prices and the election...there are three groups that affect the cost of gasoline.
1) Supply line, that group from where oil comes into the national system through the refineries, to the distributors and then to the gas stations.
2) Commodity brokers, the kids who play Monopoly with each and every important food and manufacturing item that we depend on from corn to copper to oil to pork bellies. Commodity prices are set by bets and hedges and global political issues [if Iran coughs, and the Straits of Hormuz are threatened, watch for an immediate $20/bbl increase].
3) OPEC and the other oil producing nations. They determine the flow of oil out of their countries, from Venezuela and Mexico to Iraq and Saudi Arabia and Nigeria and Libya.

Unless a politician in Washington has a vested interest in the Oil Industry, he/she has little to do with oil prices on a global basis. Oil is fungible, once it hits the air it doesn't matter if it burped out of the Earth in Texas or Iraq, the commodities market now owns it.

Popquiz...which of these three triggers can affect the price and which person would they be inclined to support in an election if any? In 2008 the prices dropped prior to the election with zero benefit. They dropped at the distribution and refinery level, not bbl level. Now the price/bbl is dropping [20% in the past month].

Sorry for the whiteboard lecture...I deal with this discussion about commodities at client's offices about once a week.

 

[ladder13]

3.69 here on the way to 3.68

 

[JcMack]

T
As for the national prices and the election...there are three groups that affect the cost of gasoline.
1) Supply line, that group from where oil comes into the national system through the refineries, to the distributors and then to the gas stations.
2) Commodity brokers, the kids who play Monopoly with each and every important food and manufacturing item that we depend on from corn to copper to oil to pork bellies. Commodity prices are set by bets and hedges and global political issues [if Iran coughs, and the Straits of Hormuz are threatened, watch for an immediate $20/bbl increase].
3) OPEC and the other oil producing nations. They determine the flow of oil out of their countries, from Venezuela and Mexico to Iraq and Saudi Arabia and Nigeria and Libya.

Unless a politician in Washington has a vested interest in the Oil Industry, he/she has little to do with oil prices on a global basis. Oil is fungible, once it hits the air it doesn't matter if it burped out of the Earth in Texas or Iraq, the commodities market now owns it.

Popquiz...which of these three triggers can affect the price and which person would they be inclined to support in an election if any? In 2008 the prices dropped prior to the election with zero benefit. They dropped at the distribution and refinery level, not bbl level. Now the price/bbl is dropping [20% in the past month].

Sorry for the whiteboard lecture...I deal with this discussion about commodities at client's offices about once a week.

All Three.

 

[358156hp]

It's an election year, and, since this happens with every Presidential election, I cannot help but conclude that gas prices are politically manipulated. If they want to manipulate us in a more meaningful way, they should drop food prices instead. $3.00 may buy a gallon of gas, but around here it won't buy a gallon of milk.

 

[OFT II]

"As for the national prices and the election...there are three groups that affect the cost of gasoline.
1) Supply line, that group from where oil comes into the national system through the refineries, to the distributors and then to the gas stations. "
Posted by McBear

I live in Odessa, Texas. The closest pump jack is less than 1/2 mile from my house and the closest refinery is about two miles. The cheapest gasoline that I've seen in town is $3.39.9 per gallon. Highest price is $3.59.9 down around the Interstate.

 

[627 city hunter]

Under $3 a gallon throughout metro New Orleans.

 

[McBear]

"As for the national prices and the election...there are three groups that affect the cost of gasoline.
1) Supply line, that group from where oil comes into the national system through the refineries, to the distributors and then to the gas stations. "
Posted by McBear

I live in Odessa, Texas. The closest pump jack is less than 1/2 mile from my house and the closest refinery is about two miles. The cheapest gasoline that I've seen in town is $3.39.9 per gallon. Highest price is $3.59.9 down around the Interstate.

I think that falls under distributor manipulating prices.

 

[C Islander]

Paid $2.98 today in NW Ohio.

 

[boykinlp]

In the upstste,it's $2.69.
f.t.

BINGO, saw it 10 minutes ago!!