More Gasoline Ramblings

DRaider90

DRaider90

Uwharrie Off-Road Volunteering
Joined
Oct 23, 2007
Location
Weddington, NC
I know the price of a gallon of gas has gotten so low by most standards that people are happy with paying $1.79 or what ever the price is in your area. I started getting into a habit of checking money.cnn.com during the week when gas prices were crazy, and reading up on the OPEC cuts, reserve overages, demand etc. So I still check it, and according to their delayed numbers light sweet crude is at $33.84 a barrel, just what $1.44 above the Dec low of $32.40 a barrel.

So back around December we were averaging for the nation $1.62 a gallon. So I am wondering why the national average is $1.79 and still rising. Well I know its greed, but I like to try to convince myself there is some other reason too.:shaking:
 
gas rambler?
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commodities are traded and consumer price is reflective of the projections of future production, very similar to corn, wheat, soybeans, etc. etc.

You can't use the barrell price today to compare today's gallon consumer price. Its just not comparing apples to apples.
 
I wondered when this was going to come up.

People get complacent since it was at $4/gallon. Just the same as Truck and Big SUV sales dropped, but are now back on the rise.
 
the speculators thought that the conflict on gaza was going to increase demand on oil. i dont know why. israel is a technology exporter...not an oil importer. the conflict has almost zero effect on oil exports.
needless to say the speculators jumped on oil thinking they could make a profit off of it. lol....i hope they lose their asses.



gas stations feared the speculators would drive the price through the roof and raised their prices thinking it was going to cost more to get fuel when they had to refill the ground tanks.

they are just slow to lower prices cause...well, greed.
 
I read the other day on yahoo that the oil refineries slowed down production after December 19 from processing 14 million barrels a day to 13 million. Trying to get the price back up.
 
td4runner said:
I read the other day on yahoo that the oil refineries slowed down production after December 19 from processing 14 million barrels a day to 13 million. Trying to get the price back up.
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demand has fallen by 1 million barrels so production has fallen. supply/demand ratio hasnt changed. neither should the price.
 
rockcity said:
commodities are traded and consumer price is reflective of the projections of future production, very similar to corn, wheat, soybeans, etc. etc.
You can't use the barrell price today to compare today's gallon consumer price. Its just not comparing apples to apples.
Click to expand...

So when the price of a barrel of oil spiked up to $50 suddenly recently, then the prices of gas should not of jumped nearly $0.20 in a day like they did.
 
oil should not be publically traded. some thing that has become that vital to the sustainability of america should not be subjected to the volatility of the market.

dont get me wrong, im all for free trade, but i dont want my economic well being jeopardized so some speculator can make a few bucks.
 
Gas prices initially rose last year, following a resurgence in the price of crude oil, gas's main ingredient. But as concern about falling demand for oil sent crude prices down more than $6 a barrel this week, the drivers may be in for a decline in gas prices as well.

"The American consumer is still staying home," said Geoff Sundstrom, fuel price analyst at AAA.

"There's absolutely no reason why the price of gasoline should be as high as it is," he said.

Changes in the price of retail gasoline usually lag the price of crude, and gasoline demand is falling. Demand, which ticked up at the end of December, continued to fall last week, according to the Energy Department.

"Shop aggressively with your steering wheel," advised Sundstrom."
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We will see if gas prices go back down, or if greed will over rule.
 
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