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WTF Is Up With Gas Prices!

C

Carbo

Diamond Member
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
 
Shhh...dont tell anyone....its a conspiracy (oil refineries conspiring to keep supply and demand in check that is).


edit: I just realized something, you joined two days after I did eight years ago. Weird.
 
Originally posted by: Carbo
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
Click to expand...

There is a lag between oil prices and gas prices. The oil doesn't pop out of the ground and right into the gas station's tank.
 
Well I could say that the prices will be what the gas costed them at the time of purchase and not what has happened in a few hours unless it's bad news and in that case they can make a profit because of it but that would be to easy... 😉

Weak for sure.
 
Originally posted by: newb111
Originally posted by: Carbo
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
Click to expand...

There is a lag between oil prices and gas prices. The oil doesn't pop out of the ground and right into the gas station's tank.
Click to expand...

Ya, but something funky is up. On December 21st, gasoline got as low as $1.31/gallon in my area. I think this was due to some competition between a couple of gas stations, but gasoline elsewhere at that point was around $1.45. Oil at that point was around $35/barrel. It's not really went up past $45/barrel that I know of since, but gasoline has steadily went up. It jumped $0.10 today to top out at $1.99/gallon.

I guess gas companies can charge whatever they want, but it just kinda sucks for consumers when you don't see gasoline prices match what's happening with oil prices, even when factoring in the delay and competition bringing prices down.
 
I quit the whole oil thing. I just pump oil out of my yard and refine it myself. As long as the goverment does not find out there's an oil deposit under the shed, I'll be safe.

:d

Wouldn't that be cool though? You'd have to seriously hide that though.
 
Originally posted by: newb111
Originally posted by: Carbo
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
Click to expand...

There is a lag between oil prices and gas prices. The oil doesn't pop out of the ground and right into the gas station's tank.
Click to expand...

only when oil is going down, the price of a barrel jumps 4 bucks today you can be damn sure the price at the pump is going to jump 15 cents tonight

it's kinda messed up
 
Originally posted by: newb111
Originally posted by: Carbo
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
Click to expand...

There is a lag between oil prices and gas prices. The oil doesn't pop out of the ground and right into the gas station's tank.
Click to expand...

Then why did it jump UP almost INSTANTLY when gas prices were on the rise?
 
It takes on the order of 6 months for baseline prices to change. Whenever they talk about something on the news there may be a temporary drop, but the baseline will stay the same.

Crude only dropped below $100 again in September and $50 the middle of November.
 
The reason gas is going back up is because it never should have gotten so cheap to begin with. At $40/barrel the oil itself is about $1.00/gallon. Throw in distribution, refining costs, and taxes and it is obvious gasoline was too cheap.
 
Originally posted by: newb111
Originally posted by: Carbo
Crude oil dropped almost another $2/barrel today, below $34. But when I filled up my trusty Civic, I paid $2.06 for a gallon of regular. I'm afraid to see what I'll be paying if crude oil prices fall any lower. :frown:
Click to expand...

There is a lag between oil prices and gas prices. The oil doesn't pop out of the ground and right into the gas station's tank.
Click to expand...

No, but they don't charge the prices they paid either so your visualization sucks. Officially, they charge the prices that it cost to replace the gas you are buying and that is why the effects are felt so fast. Of course, there are many other factors that determine the final price, and I don't mean "profit."

Anyway, demand drops in the winter so it is possible to drop prices slower than demand.
 
Keep apologizing. When any news appear about oil, gas jump up (explain that with your apologists rationale of "takes a while for price to adjust because crude blah blah"...). When oil goes down and prices steadily increasing, the apologists come out in drove to support whatever theory they have. Give it a fuking rest, who gives a shit, we're all getting reamed.

You're NEVER gonna be high up in the chain to know what's going on with your masters plan, mean while, continue to suck on their teats.
 
Originally posted by: Chadder007
Gas shouldn't be above $1.40 even considering the little bit it went up the past week.
Click to expand...

:thumbsup:

I've seen it near $1.90 this week. Probably go over $2 soon. 🙁
 
Originally posted by: Chadder007
Gas shouldn't be above $1.40 even considering the little bit it went up the past week.
Click to expand...

Meh, these low oil and gas prices are killing me. The number of rigs that are still drilling up here in North Dakota has dropped significantly in the last few months. For me, low prices=less drilling=less work. 🙁
 
Originally posted by: 2Xtreme21
OPEC's cutting production and scaring oil companies.
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OPEC doesn't control gas prices, they effect oil prices. Gas prices are effected by refinery capacity and whatever market price it's trading at (gas trades independently from oil.)
 
Originally posted by: RedSquirrel
I quit the whole oil thing. I just pump oil out of my yard and refine it myself. As long as the goverment does not find out there's an oil deposit under the shed, I'll be safe.

:d
Click to expand...

I just use old chip fat in my diesel 😱
 
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