Gasoline Prices

[ipscshooter]

Can someone explain them to me? Oil was at $140+ per barrel. Gasoline was $4.00 per gallon. Oil fell to $38 per barrel. Gasoline prices fell to $1.39 per gallon. Oil had a brief surge to about $48 per barrel and gasoline immediately shot up to $1.69. OK. So far everything has been rational. But, since that little surge, oil has steadily fallen and is now back down to $38 per barrel. Demand for gasoline is down. Gasoline inventories are up. Prices should be falling. But, gasoline prices at most of the stations around here have continued to rise to around $1.79-$1.85 per gallon.

In the past, I've gone to bat for oil companies, arguing that their profits were not excessive, etc. They were paying huge dollars for oil. Therefore, the price of gasoline wasn't out of line. But, the current pricing is different. We are back to the oil-price-level where gasoline was selling at $1.39, only now it's $0.40 more per gallon. Not a huge deal, as I'm paying less to fill the 30 gallon tank on my F150 than I was filling the 15 gallon tank on my Mustang, and the 30 gallon tank lasts more than twice as long... but, the economics seem rather odd...

[Charlie P]

Can someone explain them to me?

You like getting talked to before you get screwed?

[hillbillyhunter1]

perhaps the scales have fallen from your eyes

[burniegoeasily]

ORIGINAL: Charlie P

You like getting talked to before you get screwed?

He just likes pillow talk.

[stealthycat II]

there is no supply -demand with oil - the prices are set by a very select group and they do with it what they please according to the pressures put on them

thats the only logical reason, and Obama coming into office was the pressure that dropped oil and gas prices IMO

[ipscshooter]

ORIGINAL: stealthycat II

Obama coming into office was the pressure that dropped oil and gas prices IMO

Hogwash. Prices started falling long before the election. They peaked last July.
Election wasn't until November...

[James B]

The prices have jumped like hell since the prince hit town. osama has to be in bed with the big oil companies, This explanation has worked really well in the past so it must be true now, if it ever was.

Greed, pure and simple. They got to liking the huge profits. One guy on the news said there is now a slight disconnect in the supply and demand thing. Bidens fault I think, I heard is going to buy a shotgun too. NO I guess not, he is a anti gun scum sack.

[nodog]

ORIGINAL: ipscshooter

Hogwash. Prices started falling long before the election. They peaked last July.
Election wasn't until November...

I wouldn't call July way before and a real drop wasn't until hunting season started . They had 2 years to drop the price. Part of it was big oils bid to retain political power. I said a good year and a half before it dropped that it would just before the election and it did. I think if you check the prices for the time before the election you'll see that "July" is a stretch. Utah was still over 4 bucks mid August with the national average being 3.80, yippy. It's record didn't go any higher after mid Joly at 4.22 so I guess it did drop from "take your shoes off boy and give me that dime" to " take your shoes off boy and give me that knickle".

Didn't have to be Obama, could've been any democrate just as long as it wasn't a republican. The election had a lot to do with it but no body I know of predicted the heart attack, they will next time, if they remember.

Why it's still up where it is? They haven't learned nothin yet.

[Alsatian]

This URL may help: see below. Basically they way oil is near a multi-year low at about $33/barrel but gasoline prices are edging up because refineries are producing enough gasoline stocks. Thus, despite lower oil prices, limited supply of gasoline (limited because refineries are producing less on purpose -- I don't know why) is causing prices to rise.


http://www.breitbart.com/article.php?id=D96A7V4G0&show_article=1

[James B]

The price fell like a rock before the election. It is higher now since osama checked in to the white house.