Gas went up big today

[kenw 293]

What the crap????

 

I left this morning for work, gas in the Quick Check in Newton was $3.09.9. Came home a half hour ago, it was $3.15.9!!! That's a SIX CENT per gallon jump over an 8 hour period.

 

Damn!!!

[Babaganoosh 192]

Once they found out the market can support gas at 3 bucks a gallon during hurricane Katrina they haven't stopped overcharging us since. There has been no reason for an elevated gas price for a few years now. They just come up with fake reasons why they need to keep the price high.

 

The rich get richer and the poor get poorer.

[e80hydro 120]

Try driving a diesel pickup

[mikeyboyeee 66]

Wholesale gas has risen about.35 in the past week or so.

[Dan 177]

Amazing how every brand of gas goes up to relatively the same price. There is no competition when it comes to big oil. They are all in it together with the same goal in mind... pull the covers over our eyes and fleece us till the cows come home. Its is basically a cartel. In a real market, you would see innovation and efficiency in refining and delivery by companies in order to offer gas at lower prices compared to their competition.

[Malsua 1,422]

Watch on March 20 to see if the $36 billion dollars in bribes the House of Saud is passing out will do the trick.

 

March 20 is the "Day of Rage". If they aren't happy with the bribes, expect 220/bbl oil...roughs out to 7-8 bucks a gallon. That's a big economy crasher!

 

Weee, we're doomed!

[Malsua 1,422]

Amazing how every brand of gas goes up to relatively the same price. There is no competition when it comes to big oil.

 

You do understand what a fungible commodity is?

[hopper 36]

Yeah and when the price of a barrel of oil does eventually go down it will take weeks for gas to decrease pennies whereas in one day it went up 6 cents .

[Malsua 1,422]

Yeah and when the price of a barrel of oil does eventually go down it will take weeks for gas to decrease pennies whereas in one day it went up 6 cents .

 

There were gas stations with the electronic signs out front in 2008 that I saw change while I was filling up. My pump didn't change but as soon as the transaction was done, the cost on my pump went up.

 

They rip us off any way they can, but common prices all over is a function of what gasoline is.

[vjf915 456]

I remember when I could fill my almost empty gas tank with a $20 bill, and still have some change left over.....

[Babaganoosh 192]

My motorcycle now costs more to fill than my car used to. How about them apples

[AnthonyG 36]

Last time I filled up at the wawa by my house gas was 2.99 to be exact, this was maybe last friday, today I paid 3.14. Gas is going to get more crazy with all the revolts in the regime run countries cause it shakes the oil applecart for futures. Spring approaching doesn't help either.

[usnmars 136]

Just remember the oil companies are paying their people to sit in the gulf of mexico and twiddle their thumbs. Not one permit to drill or do any kind of work has been approved since the Deepwater Horizon incident. Domestic production has dropped because of the white house.

[djg0770 481]

Just remember the oil companies are paying their people to sit in the gulf of mexico and twiddle their thumbs. Not one permit to drill or do any kind of work has been approved since the Deepwater Horizon incident. Domestic production has dropped because of the white black house.

 

Fixed that for you buddy.

[djg0770 481]

I remember when I could fill my almost empty gas tank with a $20 bill, and still have some change left over.....

 

 

<snort> Man - when I started driving I used to fill up with a ten spot and got a buck change.

[tony357 386]

maybe we should do the same thing egypt and libya are doing.. bet that oil drops real quick..

[NJKen 23]

Try driving a diesel pickup

aint that the truth. Over $150 to fill my truck. Shame is its an 02 and when I bought it new it was a hair less that $50 to fill it. This Flat Sux

Ken

[djg0770 481]

I'm thinking of finding an old diesel Rabbit or such and a willing chinese restaurant and making bio-D...

[kenw 293]

I'm sure the Federal and NJ state permitting and licensing process would make it less than cost effective to make your own fuel. Can't be messing with the status quo, man.

[hopper 36]

I remember when I could fill my almost empty gas tank with a $20 bill, and still have some change left over.....

And that was with PREMIUM !!!!!!!!!!

[JackDaWack 2,895]

Amazing how every brand of gas goes up to relatively the same price. There is no competition when it comes to big oil. They are all in it together with the same goal in mind... pull the covers over our eyes and fleece us till the cows come home. Its is basically a cartel. In a real market, you would see innovation and efficiency in refining and delivery by companies in order to offer gas at lower prices compared to their competition.

your absolutely right, there are three gas stations down the street from me, all located at the same intersection, they all have the same exact prices.. no competition what so ever. Then you go one town over and there higher or lower, but there all the same in each town, it makes you wonder who exactly sets the prices? They will charge what ever they want is what it comes down to, no regulation.... its like the only good(s) in this country that isnt regulated. I still wonder how they get away with it, i mean do people really not care?

[bbk 188]

your absolutely right, there are three gas stations down the street from me, all located at the same intersection, they all have the same exact prices.. no competition what so ever. Then you go one town over and there higher or lower, but there all the same in each town, it makes you wonder who exactly sets the prices? They will charge what ever they want is what it comes down to, no regulation.... its like the only good(s) in this country that isnt regulated. I still wonder how they get away with it, i mean do people really not care?

 

The veil of consumerism. Give people enough BS, and they will drown themselves in picayunishness-- oft being ignorant of the coming issues.

Or maybe its just easier to get through life being a sheep; I wouldn't know.

[Cylinder Head 22]

maybe we should do the same thing egypt and libya are doing.. bet that oil drops real quick..

 

We won't just be throwing rocks and rubber bullets and riot shields won't cut it against my Mk318 SOST rounds.

[MidwestPX 172]

One thing we as a country can do to bring our gas bill down is to standardize the fuel. I read that currently, the refineries have to make 30 or 40 different blends to satisfy the different state requirements.

[Wildbob 14]

It was 43 last time I looked it up. When the prices skyrocketed after Katerina rig damage Bush suspended the different blending for 9 months so the people could get the gas. This president feels that the country would be better off if gas prices doubled.

[Malsua 1,422]

It was 43 last time I looked it up. When the prices skyrocketed after Katerina rig damage Bush suspended the different blending for 9 months so the people could get the gas. This president feels that the country would be better off if gas prices doubled.

 

From 2008

Barack Obama: I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment,

 

He wants high gas prices, he wants to turn up the prices slowly...like what is happening now. It only hurts if you don't ease it in.

[Spartiati 63]

The problem here is partially OPEC, partially supply curtail due to frictions in the middle east and MOSTLTY SPECULATION. It is not the oil companys and lack of competitive forces driving prices up. OPEC has set supply comming out of the ground to set a floor of $70/barrel. Then you add in additinal supply cuts due to Libya and you get $85/barrel then you add speculation and you will get $100+/barrel. The real problem is speculation in the futures market which was virtually non existent 20 years ago. The market price for a barrel of oil is being driven up by traders who will never take delivery of one drop. It's just another speculative bubble. Supply and Demand is not even a factor, think about it...The amount of oil in the ground hasn't changed in the last three weeks nor has demand so why the price increase? Mostly speculation on the futures markets. Yes, there is fear of supply disruption in Libya and else where in the Arab world, but that doesn't expain going from $75 per barrel to over $100 in two weeks. As with all bubbles they are not sustainable over the long run and price will come crashing down but not until traders make a bunddle and we as consumers get hosed.

[Cylinder Head 22]

As with all bubbles they are not sustainable over the long run and price will come crashing down but not until traders make a bunddle and we as consumers get hosed.

 

Coming from someone who talks about these markets all day, every day, you are absolutely spot on.

 

HOWEVER, demand is growing steadily, as Brazil and China's infrastructure and auto industries kick into gear. The problem is supply hasn't gotten back to pre-crisis levels due to scrapped projects and abandoned exploration when the last bubble burst. It'll take some time to turn that faucet back on.

[matt6669 71]

or for the US to start giving permits out to the Gulf again to restart their drilling.

 

Or for the US to start drilling in Alaska

 

Or

 

Or

 

Or

 

Yet the US just sits idle doing nothing as it has been doing for quite some time and we are quickly on our way to becoming a 3rd world country

[Cylinder Head 22]

Yet the US just sits idle doing nothing as it has been doing for quite some time and we are quickly on our way to becoming a 3rd world country

 

Not remotely. I think you're underestimating the people who are REALLY in power in this country. On the surface it may look like America is slowly shitting the bed, but that's not the case. We're bleeding the ME dry of oil slowly, while keeping our own RICH oil reserves untapped. At some point the US is going to be the next Saudi Arabia, and not just for coal. We have more untapped nat. gas, coal and oil than anywhere.

 

I hear a lot of people whine about "China's going to take over". Remember the early 90's? Japan was taking over then. What's happening now? Oh right, there economy fell directly into the crapper for a solid decade when they refused to fix their banking system. China isn't taking anything over. Yes they're becoming a world power, but WE own them now. They rely on the US for commerce, and with their currency pegged to the dollar they HAVE TO buy US Treasuries. To the uneducated this would seem like they "own" the US, but it's exactly the opposite. If, for one second, the capital markets got wind that China was dumping their treasuries, their investment would drop in value precipitously. They'd lose half their principle in minutes.

 

In short, the US still runs this planet, and will for a while. Who else is there? Europe? LOL, they're proof that socialism is a complete failure. China is our lapdog and Russia relies on selling AK's to terrorists and artifically pumping up their oil production through water injection. Good luck with that long term plan guys.