What in heck is going on with gas prices? - Page 2

[ARCHIVED THREAD] - What in heck is going on with gas prices? (Page 2 of 2)

Posted: 5/13/2004 8:51:59 PM EDT

[#1]

Prices are a pretty steady ~$2.25 a gallon here in an LA suburb. Premium, and only 91 octane at that, gas is right at about $2.60 a gallon.

The prices will never go down, the market has shown that it will absorb and pay these high costs. The oil companies know this, and they aren't stupid to lower prices and cut profits. If anything, they will stablize for a few months then slowly go back up. Expect the cost of almost everything to go up as well, since oil is needed as the fuel for transporting goods.

Posted: 5/13/2004 8:59:34 PM EDT

[#2]

World demand for oil is up... way up. The world economy is booming. The world demand for oil will keep climbing unless we nuke them all back to the stoneage. I got a Subaru instead.

Posted: 5/13/2004 9:06:01 PM EDT

[#3]

Basicly said we are getting screwed by enviro groups, taxes, OPEC and who else?

Posted: 5/13/2004 9:14:35 PM EDT

[#4]

Heres some interesting data released just this week on retail/wholesale prices of gasoline. Also gives us a little look on whats coming

tonto.eia.doe.gov/oog/info/twip/twip.asp

Posted: 5/14/2004 4:53:26 AM EDT

[#5]

bout 205 here, who do we need to bomb to get the prices down

Posted: 5/14/2004 4:55:16 AM EDT

[#6]

Bomb ....................... heh,heh........................................goes into the garage to sort out some harmless household chemicals................... heh, heh.

Posted: 5/14/2004 4:56:18 AM EDT

[#7]

I see this whole gas price thing spiraling out of control. With people paying higher prices for gas they'll demand higher wages and that'll make the price of everything else go up. We've got to come up with some alternet formes of transportation(Hydrogen fuel cells, bio-diesel, electric,ect.) and shake this monkey that's OPEC has put on our back. If we can't get it under control I really do fear for the future.

Posted: 5/14/2004 5:03:01 AM EDT

[#8]

Quoted:
Basicly said we are getting screwed by enviro groups, taxes, OPEC and who else?

How do you leave off the oil companies?

Posted: 5/14/2004 5:07:41 AM EDT

[#9]

Gas all around me is 2.05
some guy who owns his own station said in the newspaper he is selling it for 1.88 and still making money, I'm just not being greedy

Motherfuckers.

Posted: 5/14/2004 5:13:40 AM EDT

[#10]

Quoted:
The prices will never go down, the market has shown that it will absorb and pay these high costs. The oil companies know this, and they aren't stupid to lower prices and cut profits. If anything, they will stablize for a few months then slowly go back up. Expect the cost of almost everything to go up as well, since oil is needed as the fuel for transporting goods.

Nope, they come back down. In about 1987 I was driving a 1971 Chevy Caprice (400ci engine) and paying around $1.70-1.80 in the DC area for gas. But then prices fell and I am pretty sure I paid less than a dollar a gallon in the same area during the past 10 years. If prices remain high then investments will be made to produce more oil and refine more gas. The Saudis have been gaming the system for the past 15 years by temporarily jacking up prices but making sure they fall before additional oil production investments can be made.

GunLvr

Posted: 5/14/2004 5:20:06 AM EDT

[#11]

Quoted:
[Yup, every year. Now why isn't it that these brilliant economic giants don't make sure there is plenty of gas for those yearly peak times ?
Could it be because they make a shitload of cash off those times ?

That's what the futures market is. You can buy gas now for deliver in August. But those high futures prices drive up current prices because an owner of gasoline can hold onto his stock and not sell now but sell in August. Of course the reverse holds too--it current prices in August are low then the holder of high priced futures contracts lose a lot of $$$$.

GunLvr

Posted: 5/14/2004 5:43:17 AM EDT

[#12]

Ehh, I'm somewhere between 1.50 and 1.30. With the corolla I get on average 28 MPG, so I'm pretty good to go for 2 weeks at a time.

Ben

Posted: 5/14/2004 6:06:08 AM EDT

[#13]

Took a trip to the Oregon coast this week and paid $2.11 at a Shell but most of the signs read $2.29 for regular.

Kinda hurts in a Tahoe.

Posted: 5/14/2004 6:38:35 AM EDT

[#14]

Thanks God I got rid of my gas guzzling SUV. I got around 15mpg in that thing. It was a great truck, but with a 30gallon tank it was a bitch to fill. At least now I get around 36hwy/29city with my Accord.

Posted: 5/14/2004 8:48:51 AM EDT

[#15]

Turn your head to the side and cough.

[ARCHIVED THREAD] - What in heck is going on with gas prices? (Page 2 of 2)

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