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Why the hell did gas jump so much yesterday?

G

GoingUp

Lifer
Just got internet hooked up, so excuse the possible repost, but yesterday morning gas was at 2.19 here in Detroit and by the afternoon it was 2.36. Why the hell did it jump 17 cents? Anyone else around the country notice a big jump yesterday? Any ideas why?
 
We had 2.05 on Monday, then on Tuesday it jumped to $2.25. Yesterday it went up to $2.39 (Toledo, OH).

It must be the holiday weekend - although it didn't jump this much for Christmas and I've got to think people would be doing more driving that weekend than this weekend.
 
i paid 2.09 in sunbury ohio yesterday, but i have a gas station that is always a little lower than everywhere else. I saw it at 2.39 elsewhere
 
Because the gasoline supplies were down more than expected, however oil supplies are up 13% from this time last year with oil prices being up 40% from a year ago. While those oil numbers were being reported, oil spiked nearly $4.00 per barrel....for no reason.

Analysts and traders also pulled this "January is going to be colder than expected" out of their @ss while not admitting that the Fall/Winter has been much milder than expected, up until now. Supposed to be 60 degrees tomorrow....Jan. 1 in Kentucky....and has been in the 50's for most of last week (Friday being exception).

One word: Traders gouging and big oil raking the consumer over the coal....er...oil! :roll:

Interesting to note that OPEC expects a world drop in demand for OPEC oil next year.

No new refineries in the last 25 years with nearly 98% capacity doesn't help either.
 
Originally posted by: Engineer
Because the gasoline supplies were down more than expected, however oil supplies are up 13% from this time last year with oil prices being up 40% from a year ago. While those oil numbers were being reported, oil spiked nearly $4.00 per barrel....for no reason.

Analystists and traders also pulled this "January is going to be colder than expected" out of their @ss while not admitting that the Fall/Winter has been much milder than expected, up until now. Supposed to be 60 degrees tomorrow....Jan. 1 in Kentucky....and has been in the 50's for most of last week (Friday being exception).

One word: Traders gouging and big oil raking the consumer over the coal....er...oil! :roll:

Interesting to note that OPEC expects a world drop in demand for OPEC oil next year.

No new refineries in the last 25 years with nearly 98% capacity doesn't help either.
Click to expand...

shhhh! They'll come after you if you keep telling secrets.
 
Originally posted by: MikeyIs4Dcats
Originally posted by: Engineer
Because the gasoline supplies were down more than expected, however oil supplies are up 13% from this time last year with oil prices being up 40% from a year ago. While those oil numbers were being reported, oil spiked nearly $4.00 per barrel....for no reason.

Analystists and traders also pulled this "January is going to be colder than expected" out of their @ss while not admitting that the Fall/Winter has been much milder than expected, up until now. Supposed to be 60 degrees tomorrow....Jan. 1 in Kentucky....and has been in the 50's for most of last week (Friday being exception).

One word: Traders gouging and big oil raking the consumer over the coal....er...oil! :roll:

Interesting to note that OPEC expects a world drop in demand for OPEC oil next year.

No new refineries in the last 25 years with nearly 98% capacity doesn't help either.
Click to expand...

shhhh! They'll come after you if you keep telling secrets.
Click to expand...


:shocked:
 
Originally posted by: Engineer
Because the gasoline supplies were down more than expected, however oil supplies are up 13% from this time last year with oil prices being up 40% from a year ago. While those oil numbers were being reported, oil spiked nearly $4.00 per barrel....for no reason.

Analysts and traders also pulled this "January is going to be colder than expected" out of their @ss while not admitting that the Fall/Winter has been much milder than expected, up until now. Supposed to be 60 degrees tomorrow....Jan. 1 in Kentucky....and has been in the 50's for most of last week (Friday being exception).

One word: Traders gouging and big oil raking the consumer over the coal....er...oil! :roll:

Interesting to note that OPEC expects a world drop in demand for OPEC oil next year.

No new refineries in the last 25 years with nearly 98% capacity doesn't help either.
Click to expand...


That's them opec'rs for ya! 😉
 
Originally posted by: C6FT7
Originally posted by: Engineer
Because the gasoline supplies were down more than expected, however oil supplies are up 13% from this time last year with oil prices being up 40% from a year ago. While those oil numbers were being reported, oil spiked nearly $4.00 per barrel....for no reason.

Analysts and traders also pulled this "January is going to be colder than expected" out of their @ss while not admitting that the Fall/Winter has been much milder than expected, up until now. Supposed to be 60 degrees tomorrow....Jan. 1 in Kentucky....and has been in the 50's for most of last week (Friday being exception).

One word: Traders gouging and big oil raking the consumer over the coal....er...oil! :roll:

Interesting to note that OPEC expects a world drop in demand for OPEC oil next year.

No new refineries in the last 25 years with nearly 98% capacity doesn't help either.
Click to expand...


That's them opec'rs for ya! 😉
Click to expand...

Actually, I think it's the "irrational exuberance" traders more than it's OPEC. Similar to the stock market of the late 90's, in which prices were driven up "just because" (of course, greed set in and a bubble hit). Will it break here? Don't know...depends on world demand and the world apathetic view towards the price and not change their driving/energy usage habits as prices are inflated.
 
got gas at a Phillips 66 station here in the Denver metro area for $2.15/gal last night - it's been around that price for a few weeks now.

edit: it jumped 11 cents today
 
In NJ it was about 2.07 yesterday and 2.24 today. Here in Cleveland it was 2.08 yesterday and 2.29 today.
 
I paid 2.03 yesterday. Haven't gone driving yet today, but I'm pretty sure when I came home last night the prices were all the same. It's been 2.01-2.03 for almost a week and a half now.
 
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