Gas prices jump 20 cents overnight

[Newsjock]

Source: Orlando Sentinel

The gift of gas under $2 a gallon ended Wednesday as prices shot up as much as 20 cents a gallon overnight at many Central Florida stations, but experts said Wednesday that cheaper fuel should be back soon.

Several markets across the United States saw overnight spikes in gasoline prices, due mostly to seasonal refinery maintenance, said Gregg Laskoski, a senior petroleum analyst for Gasbuddy.

... But Laskoski said the jump is likely temporary, and that prices should drop again in the coming weeks.

"This is a significant spike, but it should come back down," he said.

Read more: http://www.orlandosentinel.com/business/os-gas-prices-jump-orlando-20151007-story.html

[Ed Suspicious]

1. Such bullshit. Volatility as the product of a predictable, scheduled, maintenance event? Come on.

[Javaman]

2. amusing really, since the saudi's just cut the price on monday.

it's all an illusion.

[BadGimp]

3. Consumers are being Seasonally Screwed by big oil

[yeoman6987]

5. Well all the different formulas required doesn't help

Gas is gas.

[christx30]

13. Different formulas of gas are better for controlling pollution

in different times of the year. Winter blends are cheaper to produce, but are worse for the environment than summer blends. That's why gas prices go up on Memorial Day.


http://www.popularmechanics.com/cars/a3180/summer-blend-vs-winter-blend-gasoline-whats-the-difference-13747431/

[yeoman6987]

16. But if they would just do one blend all year round then the price and pollution could stableize....m

[christx30]

18. Legally, they can't. These blends are mandated by

state law.

The different grades of gas are measured on a system of RVP, or Reid Vapor Pressure, which is measured in pounds per square inch (PSI). The higher the RVP number of a particular gas blend, the easier it is to vaporize and the worse it is for the environment. All gasoline blends have to be below 14.7 PSI, which is normal average atmospheric pressure. Any number higher than that and gasoline would become a gas.

During the summer heat, the RVP of gas has to be especially low to keep it from boiling off. The EPA mandates an RVP maximum of anywhere between 9.0 PSI and 7.8 PSI for summer-grade fuel, depending on region (though you get a fudge factor of 1 psi for using gas blended with 10 percent ethanol). There are even lower RVP-rated fuels for cities like Houston, New York, and L.A. Different states and cities have their own rules based upon their seasonal temperatures—Washington state needs different summer gas than, say, Florida. That's why there are so many blends. To make it more complicated, the time for switching from summer- to winter-blend gasoline varies by state too.

Generally, the lower the RVP of a gas blend, the more it costs. For example, in winter you can blend butane, which is relatively plentiful and cheap, with gasoline. But butane, which has an RVP of 52 on its own, can't be used in summer, when it would immediately boil off as a gas. So "purer" summer gasoline is by default costlier. (And there are other factors at play too. More people travel in summer during peak driving season, for instance, putting more stress on demand.)

[Warpy]

28. Right, my car is running on fumes because I've wanted to wait for gasohol

to hit the tanks around here. It's quite a bit cleaner than the stuff they stock during the summer and I've seen a difference in the thickness of the pollution cloud before and after it was mandated during the winter.

I have a newish car that doesn't care what it eats. My old truck used to get mild indigestion on it when it climbed one of the steeper hills.

[StanP50]

4. Needing a retrofit

More than likely it's one or more of the BOC CEO's that need a Yacht retrofitted, or a new addition to their ever growing defense fund over sea's that is the reason for it.

[Time_Lord]

6. That blows.

President Obama should have launched an investigation on their speculating oil prices a long time ago. Why would oil price jump 20 cents when Saudi Arabia cut their prices?

Is hydraulic fracking operations still in progress to obtain the oil?

[Babel_17]

7. "seasonal refinery maintenance"

What, several refineries coincidentally have it at the same time?

Though, to be fair, it is a herculean effort to get a state and the feds to allow a company to build a new refinery. The oil companies console themselves by exploiting the lack of slack in the refining process.

[SwankyXomb]

14. That's how they keep the gas prices high in California

We were just getting down under $3.

[kacekwl]

8. Cut the B.S.

Cost of doing business . This happens all the time I didn't know we have 24 seasons in the country.

[Kelvin Mace]

9. I stopped at the gas station the other day and...

Oh wait, I didn't. I drive a Leaf.

[yeoman6987]

17. How does it impact your electric bill?

[Kelvin Mace]

20. About a dollar a day.

Two to three cents a mile driven versus eight cents a mile for our gasoline Sentra.

[yeoman6987]

22. Oh wow. That is good.

[Kelvin Mace]

23. Right now the market for used EVs is good

A lot of early adopters went with leases and they are now going back to the lots. New models with better ranges are coming out in the next few months, so Leafs (pure electric) and Volts (electric with gasoline "range extender&quot with low miles are going for $10-$15K.

[eggplant]

10. Down to $2.13 here in upstate NY.

Which is the cheapest it has been since the $3.50/gal days. I'd love to see it back under two bucks.

And yes, the spiking is just absurd.

[markmyword]

15. Are You Kidding!

In my Chicago suburb it's $2.79 or $2.84 per gallon and Chicago is higher!

Who gets gas UNDER $2.00????

[ProfessorGAC]

19. South Of I-80 Here

We were at 2.49 but it went up a dime yesterday. A little farther south of where i live though, last Saturday was 2.22. 27 cents a gallon and it's literally one mile out of my way for where i was headed.

[Kelvin Mace]

21. Is $1.98 at a Raceway

two miles from my house.

[eggplant]

25. You can see for yourself

http://www.gasbuddy.com/GasPriceMap

Chicago is totally getting screwed.

[Marthe48]

11. Southeastern Ohio prices

jump the beginning of the month, the middle of the month, the end of the month, change of any season, whenever there is an event in our area, from school starting to Christmas shopping, always just in time to gouge the hell out of people on fixed incomes, or who need to drive for any reason. I'm surprised the gas stations don't jack the price up in the morning, drop it for an hour, jack it back up for the lunch crowd and so on and on. And it doesn't matter who is in office, what party has a majority. The oil companies get away with gouging day in and day out. I'm 63 and I've watched their BS since 1974.

[lonestarnot]

12. See what richie rich can do.

[d_legendary1]

24. Yeah right. OPEC has been ruining sale prices for US oil companies

This is a weak attempt to raise the price so they can make a cent or two.

[bobalew]

27. This is a common mistake of who is to blame...

It's not OPEC, it's The House of SAUD, doing this bit. You see they just stick a straw into the ground to get their oil, at about $19-21 dollars a barrel. It's bit more expensive to do that in Venezuela, or In Africa, or elswhere...Here, at about $41/ barrel. This is why the rest of the world is running Amok in financial ruin, including RUSSIA, because they were DEPENDING on $90.00 Plus oil prices. yeah the SHIP came in, & SANK at the DOCK...

[d_legendary1]

29. Its both actually

Opec and the Saudis are screwing with oil producers world wide. I'm of the opinion that they want this to happen but no sure why. Perhaps to kill the competition when they stop production and raise the price back to $90 a barrel?

But you're right. They sank the ship at the dock.

[underpants]

26. I stumbled on to $1.80/gallon today in rural Va.