WTF happeded to gas prices?

[William769]

Last edited Wed Jun 12, 2013, 11:48 AM - Edit history (1)

I am in N. Fort Myers Florida & gas prices have been holding steady for awhile now @3.35 a gallon. Just got back from the store & all gas stations in my area are @3.60 a gallon! 25 cents since lasy night.

[onehandle]

1. Thanks, Obama!

[Cirque du So-What]

2. In my locale,

NE Ohio, the recent spike in prices is blamed on problems with refinery production. I have no idea what accounts for higher prices in your area.

[jwirr]

5. That is the case in NE MN also. I don't think Obama is involved.

[Cirque du So-What]

8. Ya think?

I dunno...guy's been credited with omnipotence AND omniscience 'round here lately.

[William769]

10. I heard that gas is over 4 dollars a gallon in Ohio.

Is that true?

[dixiegrrrrl]

14. try this site for current gas prices:

gasbuddy.com

[William769]

15. Thanks.

[dixiegrrrrl]

24. As to WHY they go up and down over night....

tht is called price fixing, has been that way for a long time now, and NO investigation is allowed.
Just part of the general rot that has become America..
well, the globe, actually.

[madmom]

18. $3.99 last I looked.

[William769]

20. Close enough.

Ugh.

[madmom]

21. Yep, and that's for the low grade.

[madinmaryland]

22. If was in Dayton last week and it was 3.99/gal. It is even higher in Indiana...

$4.25/gal

[Puzzledtraveller]

3. It's been in the 3.80 range for a week or so here.

I'm in Kentucky, I have friends in Tennessee and their is always less. I haven't figured out why, or why we may be higher than other larger more densely populated citys and states as well.

[William769]

6. I'll be heading to S.E Kentucky next month

Just checked with a cousin of mine and it's still @3.28 a gallon in Middlesboro. I hope it stays there.

[Puzzledtraveller]

11. I'm in Louisville

We always get gouged here. It gets steeper the closer you get to the down town area but it's high even on the edge of the county and surrounding small cities.

[William769]

13. I feel for you.

BTW I haven't been to E town in awhile is it still nice & peaceful there?

[Puzzledtraveller]

23. It's been a while since I passed through Elizabethtown

It was still quaint and quiet. I more recently visited Owenboro and there is a lot happening there. Restoration and revitalization of the water front area. I ate at the famous Moonlite BBQ Inn, amazing.

[clarice]

4. Just a thought....

IMO The SEC should remove oil and natural gas from the commodities exchange. Half of the "gas price problem" is
caused by these speculators manipulating the prices.

[wercal]

32. I know a speculator

Actually I know several. These people are in the construction industry. It is possible for them to lock in a price and buy the equivalent of fuel futures from refineries. Fuel costs are a very large part of the cost of moving dirt, and 90% of the cost of making asphalt...so the recent years of volatility have people spooked. And when they get spooked, they drive up the cost by paying more than market rate, to lock in and hedge against future price spikes. After a while, it becomes a self-fulfilling prophesy.

I don't know for a fact...but I imagine fleets of all types (Fed Ex trucks, Wal-Mart Tractor Trailers, American Airline planes) 'speculate' on fuel prices in a very similar manner.

One very impracticle way to stop this is to require actual fuel delivery, before payment is made. This might be a huge hindrance for a truck fleet owner...but it also makes it difficult for 'Johnny come lately commodities trader' to try and ride the wave and push prices up more. But, this is very impractical...unless the refiners would be willing to extend lines of credit worth tens of millions of dollars to people who can't take immediate delivery.

[clarice]

35. Thanks so much wercal....very informative. nt

[1-Old-Man]

7. Maybe somebody wants you to look the other way -

[William769]

9. Thats not the way to do it.

[hamster]

12. There are 2 refineries

in Toledo Ohio. Every year, they shut down and change over to their summer blend.

[petronius]

16. I just noticed yesterday that my local station had fallen below $4 for the first time

in a while (and it was a noticeable drop). Now I'm curious to see if it popped back up, I might regret not stopping...

[William769]

19. I almost stopped last night for a full-up but didn't because of rain.

Won't make that mistake again.

I drive people to the doctors that have HIV?AIDS that can't afford or are to ill to drive and our public transit here is well almost non existent.

I do not charge for this for the simple fact if I am ever in this predicament, I would hope there was someone there to help me. I guess this is one reason I'm really ticked off right now.

[datasuspect]

17. it's just the coup keeping it real

since 2000.

[Javaman]

25. The frog has been boiling for a while now.

funny that $3.30 to $3.50 is considered the norm now?

give it time, $3.75 to $4.00 will be the new norm.

[Renew Deal]

26. Summer gas with ethanol?

[HereSince1628]

27. SE WI prices jumped about $0.30 last week...

I read that it was because refineries were COMING on line after maintenance.

BOY!!!!!!!! They (the Kock Bros.) sure must have faced some expensive maintenance!

Poor boys! Look what they gotta do to break even!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[liberal N proud]

28. Over $4.00 here in Cleveland

I was in Missouri last week and it was $3.57

[Auggie]

29. Summer driving season has started. Gas always peaks now.

[wercal]

30. $3.42 today in Kansas

We actually benefit from a glut of midwest and Canadian oil that hits US refineries in Chicago and St. Louis. If Keystone goes in, that oil hits the international market, and we start paying higher prices like the rest of the country.

[oneshooter]

31. Shell regular is still $3.20 in S.Texas.

[WhaTHellsgoingonhere]

33. $4.49 last week, $4.69 this week in Chicago

And 70mph winds on the way.

[Myrina]

34. $4.25 in Central Indiana ...

Thank your stars for $3.60!!

There was a rumor a couple weeks back about a refinery that may or may not have been buying product from others because it didn't have enough of its own or something broke or someone farted or something ... but basically its the same old gouge & grab bullshit.

[Initech]

36. The Koch Brothers' house is dirty. They need to buy a clean one.