Got Gas? U.S. Economy to Worsen as Gas Prices Skyrocket

[dmcowen674]

Looks like Oil will be back over $100 today

That could explain the at least 10 cents a day jump in prices here.

Approaching ~$5 in city of Chicago again, have seen stations pushing ~$4.69 Getting close to ~$4.50 out here in the burbs

9-12-2012

http://finance.yahoo.com/q;_ylt=Au8...NhdANob21lBHB0A3NlY3Rpb25z;_ylv=3?s=clh13.nym

Crude Oil Mar 13 (CLH13.NYM)

-NY Mercantile

99.01

0.05(0.05%) 9:48AM EDT




Prev Settlement:N/AOpen:98.90Bid:99.05Ask:99.08Day's Range:98.88 - 99.69Volume:3,199Open Interest:N/ASession:

 

[Londo_Jowo]

Looks like Oil will be back over $100 today

That could explain the at least 10 cents a day jump in prices here.

Approaching ~$5 in city of Chicago again, have seen stations pushing ~$4.69 Getting close to ~$4.50 out here in the burbs

9-12-2012

http://finance.yahoo.com/q;_ylt=Au8...NhdANob21lBHB0A3NlY3Rpb25z;_ylv=3?s=clh13.nym

Crude Oil Mar 13 (CLH13.NYM)

-NY Mercantile

99.01

0.05(0.05%) 9:48AM EDT




Prev Settlement:N/AOpen:98.90Bid:99.05Ask:99.08Day's Range:98.88 - 99.69Volume:3,199Open Interest:N/ASession:

Hmmmm looks like it's going the wrong direction.

98.72

0.24(0.24%) 10:43AM EDT

 

[dmcowen674]

Well Canadians are now starting to get just as fucked as Americans by the Oil Thug Industry sending all the fuel out of the country for profits while fucking over the consumers in country.

Both Americans and Canucks deserve to be reamed as hard as possible for allowing themselves to be fucked over like this.

What's funny to me is they are crying over a 20 cents jump over the course of 3 months. We see that here on a daily basis for many days straight.

My god based on the Canucks reaction they would all have a collective stroke if they lived here.


9-12-2012

http://ca.finance.yahoo.com/news/gas-prices-soar-several-canadian-cities-080010182.html

Gas prices soar in several Canadian cities



Higher gas prices have been jolting motorists in major Canadian centres and the shock has been particularly acute in Montreal, where prices have instantly soared by as much as 13 cents a litre.


That puts the price of regular in the Montreal area at just under $1.53 a litre, an increase of almost 20 cents since the start of summer.

Gasoline prices across southern and eastern Ontario also rose by about 3.4 cents at midnight, according to the website tomorrowsgaspricestoday.com. That puts the price of regular in the greater Toronto area at just under $1.37 a litre, and $1.34 in the Ottawa area.

Gas price watcher Dan McTeague says he can't see a reason for the increase, other than a money grab, and his website calls the hike "absurd and unjustified."

 

[Charles Kozierok]

Gas prices soar in several Canadian cities



Higher gas prices have been jolting motorists in major Canadian centres and the shock has been particularly acute in Montreal, where prices have instantly soared by as much as 13 cents a litre.


That puts the price of regular in the Montreal area at just under $1.53 a litre, an increase of almost 20 cents since the start of summer.

Gasoline prices across southern and eastern Ontario also rose by about 3.4 cents at midnight, according to the website tomorrowsgaspricestoday.com. That puts the price of regular in the greater Toronto area at just under $1.37 a litre, and $1.34 in the Ottawa area.

Gas price watcher Dan McTeague says he can't see a reason for the increase, other than a money grab, and his website calls the hike "absurd and unjustified."

C$1.53/l ~= US$5.79/gal

 

[Doppel]

What's funny to me is they are crying over a 20 cents jump over the course of 3 months. We see that here on a daily basis for many days straight.

And yet your gas isn't even $5 despite all these "20 cents jump". Why? Because you're a fvcking liar.

 

[Svnla]

Gas price is down to $3.39/gal for unleaded regular. It was about 10 to 15 cents per gallon higher last week.

 

[Engineer]

Gas prices are at highest point that I can remember for the year in Lexington at $3.999.

 

[amdhunter]

Just filled up my tank for a cool $72. It's single handedly the most I've ever paid to fill up ever.

Usually around election years, gas drops down quite a bit. Something is really wrong this year.

 

[dmcowen674]

Gas approaching $6 fast in California

10-5-2012

http://www.contracostatimes.com/cal...-shutters-costco-stations-simi-northridge-and

Gas shortage shutters Costco stations, prices skyrocket


California had its largest single-day gasoline price spike in almost five years Thursday, leading to long lines at the pump, gas shortages and even station closures.

GasBuddy.com, including one charging $5.29 per gallon in Burbank and another at $5.11 in Norwalk. One station in Calabasas was even charging $5.69.

"We are looking at the highest California prices ever," said Tom Kloza, chief oil analyst for Oil Price Information Service, which compiles the price data for AAA.

In recent weeks, California refineries have dropped production in anticipation of switching over to a "winter blend" of gasoline, which emits more polluting emissions, next month.


California's summer-blend fuel requirements are in effect in Southern California until Oct. 31.

Wholesale prices have gone up $1 a gallon in the last week alone

"Everybody is concerned about what might happen," he said. "The real question is: How long is this going to last and what can the state do?"

A power outage at ExxonMobil Corp.'s 150,000-barrel-per-day Torrance refinery Monday and a shutdown of the crude distillation unit at Chevron Corp.'s Richmond refinery contributed to the tight supplies.

Chevron also has had problems with a refinery and a pipeline.

The Kettleman-Los Medanos pipeline, which carries 85,000 barrels per day of crude oil from the state's Central Valley to refineries in the San Francisco Bay Area, has been closed since mid-September due to the presence of elevated organic chloride levels in the crude stream.

Chevron's 240,000-barrel-a-day Richmond plant, the largest refinery in Northern California, has been running at reduced capacity since a fire Aug. 6.

Adding to California's gasoline woes, maintenance work at the Phillips 66 plants in Rodeo and Arroyo Grande has slowed production as well.

Low-P, a gas station in Calabasas, put signs on its pumps apologizing for the high prices. On Thursday regular was $5.69 a gallon, and premium $5.89.

McKeeman said the independent gas station owners are typically the first to run out of fuel and shut their pumps when spot prices surge because they often lack long-term contracts to buy from fuel suppliers at set prices, McKeeman said.

Costcos throughout the region also stopped selling gas Thursday, including in Simi Valley, Northridge, Alhambra and Azusa.

 

[Doppel]

California Gas Prices still average well under $5:

http://www.californiagasprices.com/

Burbank isn't California.

 

[dmcowen674]

10-5-2012

http://www.bloomberg.com/news/2012-...asoline-as-prices-near-record.html?cmpid=yhoo

California Refiners Ration Gasoline as Prices Near Record



Exxon Mobil Corp. (XOM) and Valero Energy Corp. (VLO) are rationing gasoline deliveries to customers in California as refinery halts cut into the state’s supplies, driving pump prices toward record highs.



Valero stopped spot sales in southern California and is allocating the rest of its deliveries to customers. Exxon is also rationing to buyers at West Coast terminals.



Retail prices in the state jumped to an average $4.486 a gallon, according to data published today by AAA, the nation’s biggest motoring organization.



To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net


To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

 

[dmcowen674]

Gasmageddon to continue

10-5-2012

http://finance.yahoo.com/news/gasoline-prices-set-rise-election-184933087.html

Gasoline Prices Set to Rise Through Election Day



Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand.


On Wednesday night, a fire broke out at Exxon's (XOM) Baytown, Texas refinery, a 584,000 barrel per day facility that is the largest operating refinery in the U.S.

Historically weak demand is the main theme for gasoline prices at the end of the year. The final three months of the year are the lowest for gasoline demand and prices come off, says CNBC contributor and trader Anthony Grisanti of GRZ Energy. "But we could be paying the highest gasoline price for the fourth quarter than we've ever paid before."

 

[Svnla]

$3.31/gal regular at Sams Club (member only) or $3.34/gal regular at Murphy Oil (general public).

I don't know how you Cali folks can save any money. High cost of housing and now this? Ouch. = http://gma.yahoo.com/california-gas...hut-pumps-064022563--abc-news-topstories.html

 

[dmcowen674]

10-5-2012

http://news.yahoo.com/short-supplies-keep-gas-prices-rising-calif-235036731--finance.html

Short supplies keep gas prices rising in Calif



California gas prices continued surging Friday, adding another 17 cents per gallon on average, and the increases are expected to continue for at least several more days, ensuring long lines and short tempers at pumps around the state.


A week of soaring costs has led some stations to close and others to charge record prices — in some places $5 or more — as California leapfrogged Hawaii as the state with the most expensive fuel. The average price for a gallon of regular unleaded across California was nearly $4.49 on Friday, 32 cents more than a week ago and the highest statewide average in the nation, according to AAA's Daily Fuel Gauge report.


The California Air Resources Board was reviewing a request from the California Independent Oil Marketers Association for a waiver that would allow gas stations to begin selling winter-blend gasoline before Halloween.


David Clegern, a spokesman for the air board, said the California Energy Commission would have to review gas inventories to confirm there is a shortage and assess what effect the switch would have on air quality.


ApRoberts said Friday that the commission has determined that the state has plenty of gasoline to meet consumer demand.

 

[werepossum]

Well, there is a tiny bright side, one long espoused by the Democrats in fact. If gas is very high, we use less. If we use less, we dump fewer pollutants, MTBE and CO2 into the environment, and use less corn for ethanol to mix with it. And we have more to export, which helps our atrocious trade deficit. Presumably anyway - depending on why it's so high I suppose we might not have more.

Always a bright side, ya just gotta find it. Devil carried Uncle Jessie off to hell? Well . . . At least he didn't make poor old Uncle Jessie carry him.

 

[Doppel]

I guess I'm going to laugh and look on in disbelief. Incomes are certainly not up since the recession started and yet car sales are pretty strong right now, and that includes gas-guzzling trucks and the like. We're $.30/gallon away from a national record price, in some states less than that. There are lot of options available but peeps keep rolling their steel down the road and it sucks down the gas. Bitching and complaining is going to be quite the show once we hit a new price record (though that may not happen until next year). And I don't care who you are: it's fun for everybody to laugh at people in a huge vehicle with twice as many seats as they need bitching about gas prices.

 

[Engineer]

Car sales are up because of need. For several years, more cars were being destroyed than built. Was a matter of time before that changed.

While you're right on the fact that we still sell many big, gas guzzling vehicles, we are also selling record number of cars that are getting between 35 to 40 mpg on the highway with some approaching 30 mpg in the city (not hybrids either). Even the trucks that are being sold are going up in mpg. May not be much but every bit helps.

There is a reason why we are using over 6% less gas than our peak and that number is falling (at least the last time I had read). Heck, I'm seeing air skirts and rear mechanisms to make rigs more aerodynamic.

But to that point, I don't see how people who are working minimum wage jobs are making it on these prices, not to mention the extra cost it is adding to everyday items (i.e. delivery charges are now higher).

 

[DCal430]

just got back from costco, wait time for gas at 7:30 pm is normally nothing, tonight it was close to 20 minutes.

Big discount though, most stations here are around 4.50 a gallon, costco was 3.99 plus 5% discount for membership with amex brings the price down to 3.80 a gallon. So a 70 cents a gallon savings.

 

[monovillage]

Here's a 2004 article by Slate that discusses the oil refinery shortage.
http://www.slate.com/articles/business/moneybox/2004/06/the_great_refinery_shortage.html

There are plenty of reasons gas costs so much, but one of them is that the United States doesn't have enough refineries. The National Petrochemicals and Refiners Association says that the last new refinery built in the United States was Marathan Ashland's Garyville, La., plant —and it was completed in 1976. According to this report, between 1999 and 2002 refining capacity in the United States rose only 3 percent, squeezing up prices since demand grew much faster than that. Who's to blame for the fact that refining supply can't keep up with our thirst for oil? Probably you.

It makes sense to refine oil relatively near where it is produced or—in the case of imported oil—near its port of entry. Refineries are located all over the country. But the largest clusters, as one might expect, are near the water and population centers: the Gulf Coast, coastal California, the Great Lakes, and the Northeast. Unfortunately for refiners, about half of Americans live within 50 miles of the coast. And because of the concentration of people—and wealth—near the continental shelves, land is simply more valuable the closer you get to the water. As a result, shore dwellers have the most to lose from developments that might affect quality of life.

Refiners want to be near the water, but now it's practically impossible for them to find a place to build. Refineries are high on the list of least-wanted industrial sites. This report from the California Energy Commission notes that even though 10 refineries representing 20 percent of the state's refining capacity were closed between 1985 and 1995, "it is unlikely that new refineries will be built in California." Why?

 

[WhipperSnapper]

So, is that the reason for the recent higher prices? Refinery issues?

 

[Engineer]

So, is that the reason for the recent higher prices? Refinery issues?

Don't know but we are (were?) EXPORTING over 1,000,000 (IIRC on the number) barrels per day of refined products (gas, diesel) so how bad could it be?

http://content.usatoday.com/communi...soline-than-imported-last-year/1#.UHAV7FFEKnk

Refineries running at 83% capacity at that time and fuel usage has been steady or dropping in the US for several years.

 

[Londo_Jowo]

I'm doing my part, I'm working in a Valero refinery in Houston helping them complete maintenance and get back online.

I paid $3.35/gal two days ago

 

[dmcowen674]

I'm doing my part, I'm working in a Valero refinery in Houston helping them complete maintenance and get back online.

I paid $3.35/gal two days ago

Here you go America.

Here is one of the many incompetent Oil Thug Industry workers and he is proud of it.

 

[Engineer]

Was $3.53 at 5:30am this morning. Now $3.85 in Lexington.

Why America hasn't looked at places like Brazil and what they are doing (develop something else and kiss oil goodbye) is beyond me. Keep sticking our heads in the sand and hoping a miracle happens I suppose.

 

[Londo_Jowo]

Here you go America.

Here is one of the many incompetent Oil Thug Industry workers and he is proud of it.

At least I'm not so incompetent to get fired for unauthorized use of company property (computers).