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Original Gas Thread: Americans enjoying $4 gallon despite oil oversupply highest in 8 yrs

dmcowen674

No Lifer
GasBuddy - Check latest Station Prices in your area

4-19-2006 Added GasBuddy.com by request from BriGy86

4-19-2006 Stations hit $3.99 in North America for first time.

4-12-2006 Most of America back over $3 gallon :thumbsup:

Edit:4-13-06 Oil Inventories now at 8 years high, was 7 year high last month.
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Originally posted by: shadow9d9
http://www.consumerwatchdog.org/energy/pr/?postId=6133

Santa Monica, CA -- The Foundation for Taxpayer and Consumer Rights released a new study today of rising gasoline prices in California that found corporate markups and profiteering are responsible for spring price spikes, not rising crude costs or the national switchover to higher-cost ethanol, as the oil industry claims.

Click here to download and read the study.

Independent petroleum consultant Tim Hamilton analyzed gasoline price increases from January to April to find that:

* Increases in the "spot" market price of crude oil -- which is the highest price a major oil company would pay for crude oil -- accounted for only 12 cents per gallon. California's percentage sales tax increased fuel prices by another four cents per gallon. More than 40 cents of the 60-cent increase in gasoline prices over 3 1/2 months is attributable to increased refinery and marketing profit margins for the oil companies;
* Neither the MTBE phaseout nor the substitution of ethanol is a serious part of the increase. If the MTBE phaseout or ethanol blending specifically increased costs for oil companies in California, other states in the West using conventional unblended gasoline should be much less affected. Yet Washington State, which uses only conventional gasoline and has similar refinery capacity and crude oil sources, mirrored California's increase;
* The profit increase of 42 cents, on top of record profits last year, means California gasoline will cost consumers approximately $546 million more in April 2006 than in April of last year.

"While oil companies continue to blame crude oil prices and ethanol additives for the recent gasoline price spikes in California, the chief cause is increased profiteering by oil companies that have previously posted world record profits," said Hamilton.

"Oil companies are opportunistically using the rising world price for crude oil as an excuse to excessively raise gasoline prices and pump up their profits, even though the spot market price for crude has gone up far more slowly than gasoline prices," said FTCR President Jamie Court. "In addition, the spot price is higher than most oil companies pay, since they either harvest their own crude or pay more stable and often much lower contract prices.

Biiig surprise! Bush and his oil baron buddies win again!
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This is cool 😎

Iraqi's feel the pain as their American conquerers raise their Gas prices nine times. :thumbsup:

12-19-2005 Iraq Fuel Price Hike Sparks Protests

BAGHDAD, Iraq - Violent demonstrations broke out across Iraq and the oil minister threatened to resign Monday after the government raised the prices of gasoline and cooking fuel by up to nine times.

The price of a liter of imported and super gasoline was raised to 17 cents, which is a fivefold increase from previous prices. There are about 3.8 liters in a gallon, meaning the new price is about 65 cents a gallon.

The price of locally produced gasoline was raised about sevenfold to about 12 cents per liter, or about 46 cents a gallon.

In Amarah, 180 miles southeast of Baghdad, police fired into the air to disperse hundreds of protesters gathered in front of the provincial government headquarters.

The demonstrators, however, did not leave, and some scuffled with police. Protesters also briefly blocked the main road between Amarah, Basra and Baghdad.

Drivers blocked roads and burned tires near fuel stations in the southern city of Basra, and hundreds of Iraqis demonstrated outside the governor's headquarters to protest the price increases.
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9-26-2005 Georgia closes schools for two days to save 500,000 gallons of diesel fuel.

Kentucky schools go to a 4 day week to save fuel.


9-22-2005

$3.19 here in New Orleans today

9-16-2005

GM should be forced out of business.

Just saw new 2006 SUV commercial where they were actually pushing the SUV as being a fuel efficient vehicle.

As stupid Americans buy this I have no sympathy for us as we still continue this destructive behavior.


8-31-05

Welcome OT folks

Atlanta $4.99 and out of gas so the price doesn't matter.

Prices in excess of $6 expected tomorrow but many stations througout country out of gas.

Southeast U.S. out of gas



8-23-2005 I haven't see anything in the news yet but many stations in New Orleans have in fact run out of gas.

Many stations do not have any middle or Premium grade. Don;t see any stations lacking regular grade.

Can anyone else confirm this outage outside New Orleans area or other States???


Petition to Shut Nascar down during Gas Crisis


8-21-2005 Since we are clearly in a Gas crisis I propose that Nascar be shut down until the crisis passes, if ever.

The huge amount of fuel wasted transporting the cars and crews, the waste of the race itself and the wasted fuel by all of the spectators would certainly put a dent in the strain on the gas reserves since Refineries cannot keep up as reported.
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This article is dedicated to the Elitists on P&N that swore that you would never re-coup the cost of buying a Hybrid:

8-20-2005 Tax credit worth up to $3,400 adds incentive to buying hybrid

Here's how the difference works out: Ford's suggested retail price for the 2005 V6 Escape hybrid is $28,525, $2,980 more than the gasoline-powered V6 Escape.

Linkov estimates, based on tests he performed and an assumed $3.00-per-gallon cost for gasoline, that you'd save $769 in fuel costs annually driving 15,000 miles per year.
The estimated tax credit for the V6 Escape is $1,950.

Using these figures, it would take about 16 months to recoup the hybrid's higher price.
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Many areas in Country around $3 a gallon. California now going for $4.

6-21-2005 Gas Prices Drive More Consumers to Steal

As sticker shock at the pump shows few signs of abating, gasoline bandits are multiplying, pushing the rate of fuel theft to unprecedented levels. The trend illustrates that while gasoline demand remains relatively inelastic, consumer angst over high prices is steadily growing.

"Behaviors like stealing do mean the real cost of gasoline has had some significant impacts on people"

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Hysterical

News must be slow now, making a huge deal out of a 6 cent drop in Gas prices and like I said Gas at just above $2 is now considered cheap Gas. Mission accomplished.

Interesting that Gas is slightly lower in very poor part of the Country in Mississippi. Gas is close to that price in Louisiana as well as Alabama.

Gets it's one of the only advantages to being in the poor depressed South Red States.

5-22-2005 Gas Prices Drop by Average of 6 Cents

The average gasoline price nationwide for all grades tumbled 6 cents in two weeks, continuing a slide in pump prices that began last month, an industry analyst said Sunday.

The most popular grade, self-serve regular, was priced at $2.15 a gallon

Average gasoline prices spiked 49 cents per gallon between Jan. 1 and April 8

The highest average gas price in the nation for regular unleaded among the stations surveyed was $2.51 a gallon in San Francisco. The lowest was $1.94 in Jackson, Miss.
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The Oil Barons and P&N Elitists worst nightmare:

8-13-2005 Experimental Hybrid Cars Get Up to 250 Mpg

CORTE MADERA, Calif. - Politicians and automakers say a car that can both reduce greenhouse gases and free America from its reliance on foreign oil is years or even decades away. Ron Gremban says such a car is parked in his garage.

It looks like a typical Toyota Prius hybrid, but in the trunk sits an 80-miles-per-gallon secret ? a stack of 18 brick-sized batteries that boosts the car's high mileage with an extra electrical charge so it can burn even less fuel.

Gremban, an electrical engineer and committed environmentalist, spent several months and $3,000 tinkering with his car.

The extra batteries let Gremban drive for 20 miles with a 50-50 mix of gas and electricity. Even after the car runs out of power from the batteries and switches to the standard hybrid mode, it gets the typical Prius fuel efficiency of around 45 mpg. As long as Gremban doesn't drive too far in a day, he says, he gets 80 mpg.

Backers of plug-in hybrids acknowledge that the electricity to boost their cars generally comes from fossil fuels that create greenhouse gases, but they say that process still produces far less pollution than oil. They also note that electricity could be generated cleanly from solar power.

Nonetheless, plug-in hybrids are starting to get the backing of prominent hawks like former CIA director James Woolsey and Frank Gaffney, President Reagan's undersecretary of defense.

They have joined Set America Free, a group that wants the government to spend $12 billion over four years on plug-in hybrids, alternative fuels and other measures to reduce foreign oil dependence.

Gaffney, who heads the Washington, D.C.-based Center for Security Policy, said Americans would embrace plug-ins if they understood arguments from him and others who say gasoline contributes to oil-rich Middle Eastern governments that support terrorism.

Monrovia-based Energy CS has converted two Priuses to get up to 230 mpg by using powerful lithium ion batteries.
 
Oil now over $54 a barrel.

Gas prices jumped a whopping 20 cents more a gallon here in Louisiana last night.

Went from $2 to $2.20 Must be getting close to $3 around rest of the Country.

10-12-2004 Oil Jumps Over $54 on Winter Fuel Worries

Oil prices surged to record highs above $54 on Tuesday as a fire at Nigerian export pipeline became the latest threat to consumers' efforts to build winter heating fuel inventories.

U.S. crude set a record $54.45 a barrel, marking a sixth successive day of all-time peaks, and was trading at $54.00, up 36 cents on the day.

Oil prices have leapt 66 percent this year

IMPACT ON WORLD ECONOMY

High prices are beginning to slow the world economy and encourage energy saving measures in China, the International Energy Agency said on Tuesday.

In Norway, a rig workers strike is expected to widen on Tuesday, forcing the world's third-largest exporter to shut in 55,000 bpd.
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In Norway, a rig workers strike is expected to widen on Tuesday, forcing the world's third-largest exporter to shut in 55,000 bpd.

What's this??? Record profits and the Oil Bastage Thugs aren't paying the Oil Rig workers????

This is the first I have heard of this one.

 
Thank you Mr. Bush!

And your failing policies! Middle class is shrinking. 20% of US below poverty levels and gas prices are on the rise.

You're right Mr. Bush. The rich need more tax breaks! YOU %&%&$
 
Originally posted by: IHateMyJob2004
Thank you Mr. Bush!

And your failing policies! Middle class is shrinking. 20% of US below poverty levels and gas prices are on the rise.

You're right Mr. Bush. The rich need more tax breaks! YOU %&%&$

I'm sorry, but I can't stop laughing at your post.


I'm sure Dictator Bush is sitting in his tower, stroking his cat, grasping his mighty scepter, and doing his best Mr. Burns impression:


EXCELLENT!


:roll:
 
P.S. When I was in Chicago two weeks ago, it was $2.059 per gallon then.

It was $1.899 per gallon this morning in Lexington, KY.
 
It was interesting a couple weeks ago when the media started reporting the prices of the oil futures as if they were the actual price of oil. Dave's blanket acceptance that somehow the future's price and the actual price being one in the same is an indication of the reason the media is doing what they are doing.

For the record, commodity futures are one of the most volitle and risky investments in the market and can have absolutely no indication of future prices or even current prices. The market is speculating on future supply dissruptions, something that could or could not happen. This speculation and the price of futures has NO impact on the price of gas you pay at the pump and will have no impact unless the events the market is trying to predict actually occur.
 
Everybody bend over:

10-14-2004 Heating oil prices reach record, up 24% in month

The price of a gallon of heating oil trading in New York rose 3% to $1.4991 Wednesday, the highest on record.

Approximately 8% of U.S. homes, primarily in the Northeast, are heated with heating oil. The Energy Department last week estimated heating oil bills would average $1,223 per home this winter, up 28.4% from a year ago

The Energy Department predicts the average winter bill for homeowners with natural gas, used to heat more than half of all U.S. homes, to be $1,003 this winter, up 15.3% from last season.

The average price for a gallon of regular gasoline was $1.980 Wednesday, up from $1.972 Tuesday. Gasoline prices are up 27% from a year ago.

"The public hasn't added all of this together yet," Wolfe says. "Families are going to be hit pretty hard."
 
Oil closed at $54.76 per barrel today.

Gas in Lexington went from $1.819 to $1.999.

Diesel is at $2.149 now.

I would imagine trucking companies are hurting...
 
gas in SD, is $2.50 now. man, i miss when gas was cheap... at $2.20.

u'd think they could just truck it up cheap from mexico

looks like $55/barrel milestone for next week, and then on to $60...
 
IF there is a reasonable correlation between the price of crude per barrel and the price of gas per gallon it would seem to me that 60$ oil translates into 3.50$ per gallon low octane gas..
 
Originally posted by: Engineer
Oil closed at $54.76 per barrel today.

Gas in Lexington went from $1.819 to $1.999.

Diesel is at $2.149 now.

I would imagine trucking companies are hurting...

No sh!t. What ever happened to the good old days when diesel was cheaper?

Paid the most I have ever paid to pump gas in my life today, $2.10 in Royal Oak, Michigan on Woodward. I put in $5 and had a good laugh with my gas guage. We both found it pretty damn funny.
 
This is no bodys fault but everyones. One man is not responsible for oil prices. You all are (including me) are responsible for these prices. Bush is not the problem and Kerry is not the solution.

This is simple supply and demand.
 
Originally posted by: 0marTheZealot
This is no bodys fault but everyones. One man is not responsible for oil prices. You all are (including me) are responsible for these prices. Bush is not the problem and Kerry is not the solution.

This is simple supply and demand.

Not that crap again.

That has been proven to be the furthest from the Truth.

If that was truly the case Gas would've been $5 to $6 gallon at U.S. pumps since Oil hit $40 a barrel.

The fact that the Oil Thugs have kept it at the $2 mark for so long is all the proof in the world to clearly show the Supply & Demand Crap is just that, CRAP.


 
Gas in Lexington, KY up $0.19 yesterday: From $1.86 to 2.05 for 87 octane, $2.15 for Mid-grade and $2.25 for premium.

(Oh, on a side note...I remember reading that premium only costs $0.005 (5 tenths of a cent) more to make than regular PER GALLON. Anyone know if that is true?)
 
Post your Prices and I will update list below by Region and State

A lot of you can thank your state for the high prices you pay, not the evil oil companies. For example, $.50 of the price of every gallon in California goes to pay state and federal taxes. gasoline taxes by state. Couple that with state and regional formulation requirements and that probably explains most of the rest of the difference. BTW, I paid 1.79/gallon when I filled up this morning. Thank you Commonwealth of Virginia for not screwing me at the gas pump like the Hawaii and California people are.


(Oh, on a side note...I remember reading that premium only costs $0.005 (5 tenths of a cent) more to make than regular PER GALLON. Anyone know if that is true?)

It's probably less than that in the technical sense of manufacturing costs, however the production costs aren't even close to being the main component of gasoline prices anyway, no matter what octane grade you're talking about. Here's something which will describe how it works if you care to know... how fractional distillation works

 
Originally posted by: ReiAyanami
gas in SD, is $2.50 now. man, i miss when gas was cheap... at $2.20.

u'd think they could just truck it up cheap from mexico

looks like $55/barrel milestone for next week, and then on to $60...


I paid $2.57 over by UCSD the other day...
 
Originally posted by: glenn1
Post your Prices and I will update list below by Region and State

A lot of you can thank your state for the high prices you pay, not the evil oil companies. For example, $.50 of the price of every gallon in California goes to pay state and federal taxes. gasoline taxes by state. Couple that with state and regional formulation requirements and that probably explains most of the rest of the difference. BTW, I paid 1.79/gallon when I filled up this morning. Thank you Commonwealth of Virginia for not screwing me at the gas pump like the Hawaii and California people are.


(Oh, on a side note...I remember reading that premium only costs $0.005 (5 tenths of a cent) more to make than regular PER GALLON. Anyone know if that is true?)

It's probably less than that in the technical sense of manufacturing costs, however the production costs aren't even close to being the main component of gasoline prices anyway, no matter what octane grade you're talking about. Here's something which will describe how it works if you care to know... how fractional distillation works

Thanks for the link glenn1.

The point I was making was it costs .005 per gallon to make premium...and they sell it for .20 more...but I guess that's why it's called premium! 😉
 
The point I was making was it costs .005 per gallon to make premium...and they sell it for .20 more...but I guess that's why it's called premium!

Well, it's just the nature of the trade-off when you're refining oil. If you make more premium gasoline, the price of that goes down but then less kerosene gets made and the price of that goes up instead. It doesn't really matter what end product they make, it means that less of all the other potential end products get made and their prices go up because there's less supply. Sure they could make a lot more gas and force prices down at the pump, but then heating oil prices would go through the roof instead. Same deal when it comes to premium vs. regular unleaded.
 
U.S. rig counts up 138 over a year ago
CityBusiness staff report
HOUSTON ? Baker Hughes Inc. announced today the U.S. rig count for October was 1,240, unchanged from September, but up 138 from the 1,102 in use in October 2003.

Louisiana lost two active rigs for a total of 175. The state averaged 170 active rigs for October.

The international rig count for October was 842, down 24 from 866 in September and up 52 from 790 in October 2003. The international offshore rig count for October was 234, down one from 235 in September, and up two from 232 in October 2003.

The worldwide rig count for October was 2,454, up 75 from 2,379 in September and up 168 from 2,286 in October 2003.

Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944.
 
12-1-2004 Oil Prices Plunge More Than $3 a Barrel

Oil prices plunged more than $3 a barrel Wednesday on the heels of a sharp decline in heating oil futures after the U.S. government reported large increases in the nation's fuel supply less than three weeks before the start of winter.

Despite last week's supply increases, distillate inventories are still 13 percent lower than the same period a year ago and assuming colder temperatures arrives, naturally driving up demand, it will become harder to close the year-on-year supply gap.

While there's no likelihood of fuel shortages, traders say a cold snap in North America could deplete stocks further and spur higher rises. But for now the demand on heating oil inventories seems limited.

is the strong demand for diesel by the trucking industry that is putting the most pressure on distillate fuel supplies, analysts say.

 
Originally posted by: dmcowen674
12-1-2004 Oil Prices Plunge More Than $3 a Barrel

Oil prices plunged more than $3 a barrel Wednesday on the heels of a sharp decline in heating oil futures after the U.S. government reported large increases in the nation's fuel supply less than three weeks before the start of winter.

Despite last week's supply increases, distillate inventories are still 13 percent lower than the same period a year ago and assuming colder temperatures arrives, naturally driving up demand, it will become harder to close the year-on-year supply gap.

While there's no likelihood of fuel shortages, traders say a cold snap in North America could deplete stocks further and spur higher rises. But for now the demand on heating oil inventories seems limited.

is the strong demand for diesel by the trucking industry that is putting the most pressure on distillate fuel supplies, analysts say.
I blame the pr0n industry and music videos for the surge of chronic masturbators and their over-use of petrolleum-based products. The solution, of course, is mandatory and frequent PSAs, picturing goatse and tvbgirl. Not only will we use less oil, we'll lower the population growth and make the whole abortion issue moot in about 9 months.

Vote for me! 😉

 
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