Gas prices on the rise?

[fordracing65]

It looks like gas might be at the $4 dollar mark by summer, I have seen it as expensive as $3.85 a gallon in my state, every summer they do this, it pisses me off.

[aa909]

in California, especially in the bay area, premium gas (if you want to call 91 octane "premium") has been over $4 for a looooooooong time. Based on your prediction we'll get to pay $5 a gallon for crappy California 91 octane this summer. Sweeeeeeeeeeeeet!

[fordracing65]

I guess I should be happy with $3.85 then.

[Ron61]

Our cheapest gas here, the low octane 87 is $3.85 and due to go up with the next delievery according to what the woman told me. I wouldn't be surprised to see it at $4 plus very soon.

Ron

[Racer_X]

They keep nudging it up because they know we'll pay it. The oil companies have had a string of record setting profits. The stations near me (Houston, Tx) spike the prices even before their next delivery and they play the price fixing games in the more affluent parts of town.

It just really burns my hide at how corrupt the oil companies and our government is!

[392cobra]

Oil Companies aren't the problem at 2.5% profit per gallon. Or as an Industry at 6.5% Profit Margin.
Cutting their profit by 50% on each gallon of gas lowers your cost by 4 cents.

Based upon a $3.00 gallon of gasoline, the average break-down is as follows :

Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)

Problem at this time are Gasoline Refineries shutting down.

[Racer_X]

We're seeing a similar problem with beef production. I have rancher friends and with the drought last year in Texas, beef was going to market for 1/3 what they were getting prior to the drought. Yet we are seeing record high pricing at the retail front. Who is raking in all the profits? It's not the beef producers.

[bliss]

U.S. city average
Item: Gasoline, unleaded regular, per gallon/3.785 liters

[D111]

last year was the first year since 1948 where the US exported more gas than imported. sounds crazy but true.


I was always eager to know and still have not found out how much refined gasoline they get out of 1 gallon of crude oil?

[392cobra]

Originally Posted by D111

I was always eager to know and still have not found out how much refined gasoline they get out of 1 gallon of crude oil?

They average 19.5 gallons of refined gasoline per barrel of crude oil.

Or .46428572 gallon of gasoline out of 1 gallon of crude. Roughly
They get other stuff out of the same barrel too.

[DAVID GAGNARD]

Ya wanna get back at the big oil companies????? very simple, invest in their stock and you'll be getting some of those profits back...........

David

[WardL]

It really pisses you off you can't buy as much gasoline as you want for a really low price? If you want the price to go down, just stop buying it! That is funny! I thought the price goes up every spring and summer in part because people drive more.

[joyridin']

Originally Posted by 392cobra

Oil Companies aren't the problem at 2.5% profit per gallon. Or as an Industry at 6.5% Profit Margin.
Cutting their profit by 50% on each gallon of gas lowers your cost by 4 cents.

Based upon a $3.00 gallon of gasoline, the average break-down is as follows :

Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)

Problem at this time are Gasoline Refineries shutting down.

It isn't refineries...

America’s top export in 2011 was . . . fuel? - The Washington Post

[392cobra]

Originally Posted by joyridin'

It isn't refineries...

I and others disagree.

Gas prices rise, and refinery closures loom - Los Angeles Times

Gas prices rise, and refinery closures loom
California's average price for a gallon of regular gasoline climbs to $3.741, and refinery closures could further boost prices in the eastern U.S. this year, the Energy Department says.

January 31, 2012|By Ronald D. White, Los Angeles Times
Gasoline prices, already at record levels for January, rose again over the last week, the Energy Department said. But that wasn't necessarily the worst news about the continuing strain on motorists' wallets: Refinery closures were setting up the eastern half of the nation for more price increases later this year.


Phil Weiss, senior analyst for energy for New York-based Argus Research, said the refinery closings were part of an industrywide move to reduce exposure to low-profit refinery operations. But the practical effect was to leave U.S. motorists with little or no supply cushion should any other refineries have to close because of mishaps or disasters.

[joyridin']

That doesn't dispute my article by any means.

Seems pretty whack doesn't it? We are complaining we don't have the refineries, yet we are shipping it to other countries. Go figure!

[4RE KLR]

Diesel is $4.09 a gallon.

THIS MORNING it was $3.89 at the same store.

YESTERDAY it was $3.69 at the same store.

I do agree that some of the problem is we do not have enough refineries in the US but this is retail rip off any way you look at it. The store is jacking the prices twice a day.

_______________
Ferrari Killer
Steve

Must Sell Right Now

.

[WardL]

The law of supply and demand applies to gasoline, jet fuel, diesel and refineries. Refineries that are shutting down can't run the cheaper heavy crudes and can't make money. When you don't make money after awhile, you run out of money and you shut down or try to sell. A refinery that can't run the cheaper crudes could invest $millions for mods to run heavier crudes. Our country's desire to use less crude by mandating food crops (ethanol and soy beans) will cause refineries to close. THAT'S THE BIG PLAN. Food crops (AKA alternative energy) will ALWAYS cost more than products coming from crude. Get used to it. Nope, I do not understand retail gasoline prices.

[SwiftDB4]

Thank speculators (Goldman Sachs, CME Group, etc.) for gas being at least 10% higher than market demand. They buy futures contracts on 95% margin and corner the market. 50% margin is max for security trading. Why so high on futures? Politicians are bribed by the speculators and the Commodities Futures Trading Commission lets them rig the game. Anybody else pissed that the 1% are screwing the middle class?

[bliss]

According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular.

[KevinW]

You God-fearing folk should all give thanks you are in the US of A - here in the UK its $10 a gallon.