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2014 Gasoline Price Forecast

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allisolm said:
I'm sure Dave was just about to post this, but I wanted to get there first. 🙂

http://www.usatoday.com/story/news/2014/07/08/2014-gasoline-prices-may-have-finally-peaked/12350099/

"2014 gasoline prices may have finally peaked

'I think we'll drift a bit lower — with the occasional small bounce — from now until Labor Day,' says Tom Kloza, senior energy analyst for Gasbuddy.com.'

After Labor Day, we should see a return of sub-$3 a gallon prices" in areas of the South, Rocky Mountains and Midwest.

Of course, a flare-up of political unrest in the Mideast or a supply-disrupting storm system in the Gulf of Mexico could cause refinery outages and prices to spike again.

'You could have one more breakout to the upside this year — $110 a barrel is key,' says energy trader Paul Kokuzian of Chicago-based Lakefront Futures & Options. 'But barring some really concrete news, crude oil could go back to the $95 level after Labor Day.'"
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When they say Midwest they don't mean Chicago because it has never dropped below $3 in Chicago in the last 6 years.

It could for here in Indy since the Friday before July 4th when it was $3.93 it dropped the Monday after the July 4th weekend to $3.38

If that is not price gouging then the definition has to be all wrong.
 
dmcowen674 said:
When they say Midwest they don't mean Chicago because it has never dropped below $3 in Chicago in the last 6 years.

It could for here in Indy since the Friday before July 4th when it was $3.93 it dropped the Monday after the July 4th weekend to $3.38

If that is not price gouging then the definition has to be all wrong.
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Yep, no way those higher gas prices are affected by taxes.

http://forums.anandtech.com/showpost.php?p=36495951&postcount=788

http://www.indianagasprices.com/tax_info.aspx
 
Londo_Jowo said:
You also have to add transportation costs that are almost non-existent due to having 15 refineries in the 100 mile radius around the Houston area.
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That may be but your previous post suggested that the higher gas taxes were the main driver of the higher gas costs at the pump.
 
Originally Posted by Londo_Jowo
You also have to add transportation costs that are almost non-existent due to having 15 refineries in the 100 mile radius around the Houston area.

Engineer said:
That may be but your previous post suggested that the higher gas taxes were the main driver of the higher gas costs at the pump.
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I wouldn't believe anything he types. That's why he is on ignore.

Don't forget he personally benefits from the Oil Industry corruption.
 
Originally Posted by dmcowen674
When they say Midwest they don't mean Chicago because it has never dropped below $3 in Chicago in the last 6 years.

allisolm said:
I'm pretty sure "areas of the... Midwest" include places other than Chicago.
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Thank god. More tied to Lexington Kentucky prices here where Engineer lives rather than Crook County Illinois.

The taxes don't change so that is a lame excuse for jumps in the pump price up there. It's not like there was an overnight jump of 30 cents in tax as well as 30 cent gas increase like people like Jowo suggest all the time.
 
dmcowen674 said:
I wouldn't believe anything he types. That's why he is on ignore.

Don't forget he personally benefits from the Oil Industry corruption.
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Of course you ignore what is posted.

I also benefit from the chemical industry, paper industry, power industry, and any other industries that purchase industrial equipment from the company for whom I work.
 
Londo_Jowo said:
You also have to add transportation costs that are almost non-existent due to having 15 refineries in the 100 mile radius around the Houston area.
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Different state laws require the sale of different blends / mixes of gasoline. They're literally not selling the same product.

There is also a summer / winter variant, as the latter is better in sub freezing temps.
 
Jaskalas said:
Different state laws require the sale of different blends / mixes of gasoline. They're literally not selling the same product.

There is also a summer / winter variant, as the latter is better in sub freezing temps.
Click to expand...

Texas also has winter and summer blends with the later being more expensive due to the additives to reduce ozone levels in the summer months.

The majority of gasoline refined in Texas is sent to other states via pipelines and trucks.
 
Jaskalas said:
Different state laws require the sale of different blends / mixes of gasoline. They're literally not selling the same product.

There is also a summer / winter variant, as the latter is better in sub freezing temps.
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Is this supposed to be some kind of excuse validation?

It's not like they don't know the change is coming.

It's the same thing every year.

Why are you rewarding incompetency?
 
The refineries must be shut down to change over, this is when the refineries also perform maintenance on their equipment that been running at high capacities for 24 hours a day for months on end to prevent catastrophic failures that would result in extended outages.

Here's the pipeline map, blue lines are refined products. Some of the refined products have the required blended additives for the region they are being piped, some states require additional additives that are blended at facilities in the respective region.

http://www.theodora.com/pipelines/north_america_oil_gas_and_products_pipelines.html

north_america_pipelines_map.jpg
 
Oil dropped over 2% yesterday. We will see how it all shakes out now that the UN is warning that Iraq is a disaster in the making (today)...
 
The price of gas is parachuting down after the Thugs admit there was no excuse to jacking the prices up to begin with.

7-13-2014

http://www.bloomberg.com/news/2014-...-to-3-6699-a-gallon-in-survey.html?cmpid=yhoo

U.S. Gasoline Falls to $3.6699 a Gallon in Survey



Gasoline prices are cooling just as summer heats up, dropping for the first time in 10 weeks.



“The wholesale price cuts are continuing now as refiners pass along the lower prices they’re paying for crude oil,” Lundberg said. “If we can assume that crude oil prices don’t shoot right back up, we may see further declines at the pump.”


The highest price for gasoline in the lower 48 states among the markets surveyed was in San Francisco, at $4.12 a gallon, Lundberg said. The lowest price was in Tulsa, Oklahoma, where customers paid an average $3.35 a gallon. Regular gasoline averaged $3.92 a gallon on Long Island, New York, and $4.09 in Los Angeles.

“The price decline came because of crude oil prices, which are reacting to the news that Libya eked out a production rise and Iraq output hasn’t been decimated by the fighting there,” Lundberg said.
 
Hope y'all enjoyed the brief respite in gas prices:

7-17-2014

http://finance.yahoo.com/news/oil-surges-near-103-us-stockpiles-fall-133402746.html

Oil surges to near $103 as US stockpiles fall



The price of oil surged to near $103 a barrel Thursday after a U.S. inventories report showed a larger-than-expected drop in crude oil supplies.


On Wednesday, the U.S. Energy Information Administration said U.S. crude oil inventories fell by 7.5 million barrels to 375 million barrels in the week of July 11.



The fall was bigger than expected and attributed to increased refinery activity.
 
ch.gaschart


I find this image telling. Lexington and Indianapolis have a lot in common - constant spikes and drops in price. Contrast that with Knoxville, just over 140 miles south of here and it's a nice, smooth line. Something is wrong with the constant up/down motion of KY north.
 
Tennessee (Knoxville) receives it's gasoline supply from the Plantation pipeline whereas Kentucky and Indiana receive gas from northern sources via rail or trucks.

plantationpipeline.png
 
Londo_Jowo said:
Tennessee (Knoxville) receives it's gasoline supply from the Plantation pipeline whereas Kentucky and Indiana receive gas from northern sources via rail or trucks.

plantationpipeline.png
Click to expand...

That doesn't explain the hikes up and down unless I'm missing something? That would explain why Knoxville is lower on average but says nothing (that I can tell) about spikes.
 
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