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Report Your Local Gas Prices Here (retired discussion, please see the new one)
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Rocky
Rocky
That's with a capital "G" IMO.
Guess we should be buying "futures" as per sneakers comment.
Such fond memories of last year's gouge
Kind of like when you start hearing ads to buy gold or invest in heating oil futures. By the time the general public starts to hear about it, most of the upside is probably gone already!
Still hanging at $2.59 in Happy Valley, although we have one small station that is at $2.55 if paying by cash, $2.61 for a credit card purchase.
good news for those who have mineral rights.
Rocky
APR. 3
9:55 A.M. ET Venezuela's President Hugo Chavez, in an interview to be broadcast Monday, says he would like to see oil prices stabilized at US$50 a barrel.
"We're trying to find an equilibrium. The price of oil could remain at the low level of US$50. That's a fair price, it's not a high price," Chavez said in an interview with the British Broadcasting Corp.
Light, sweet crude was trading above US$66 a barrel Monday.
Oil price
Rocky
For all of you with a 1000 Kruggerands stashed in the closet. Gold is at $589, is it time to sell?
RAS LAFFAN, Qatar, April 2 (Reuters) - OPEC is likely to keep production levels steady when it meets in June if oil prices remain at current levels, Qatari Oil Minister Abdullah al-Attiyah said on Sunday.
He also told reporters there was no shortage of supply in world markets and that the global economy could absorb oil prices of $60 per barrel.
$60 or less a stable price
If not collusion, why were gasoline prices higher in 2005 -- although certainly not higher than their inflation adjusted peaks of the 1980s? It was a combination of factors: Strong demand in the U.S. and several developing nations, OPEC production and refining decisions and political instabilities in a number of oil exporting countries. Further damage to off-shore oil platforms and gulf coast ports, refineries and delivery systems from Hurricanes Katrina and Rita caused prices to spike.
Even so, profits in the oil and gas industry are much lower than many industrial sectors, such as pharmaceuticals, banks, semiconducters and even household and personal products. In fact, according to the U.S. Energy Information Agency, state and federal taxes account for a larger portion of the price of gasoline than do profits.
Collusion?
Will record profits for ANY INDUSTRY EVER bring even more crooked reverse-socialism from the big oil regime this year? I wonder what scam to sell big SUVs we'll see next.
What are you paying for unleaded today? Do they still have the price controls like last year?
I assume you are referring to just about everyone with a 401K retirement plan. Most good funds have a few oil shares.
Rocky
Potomac, MD: $2.77
Ocean City, MD: $2.33! At the Wawa
-juice
Regular = $2.51
Silver = $2.61
Super = $2.71
Ultra = $2.79
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87 - $2.399
89 - $2.499
93 - $2.559
94 - $2.599
diesel - $2.519
Lots of semis filling up with D this afternoon... only one car getting gas.
kcram - Pickups Host
ExxonMobil Revenues
Hmmm.
Fuel: 2.49/2.60/2.75 @ Meijers and Sonic
Fuel: 2.65/2.78/2.87 Shell, Mobil, BP and the like
http://www.philly.com/mld/philly/14273515.htm
Rocky
Hess is the lowest here in Central VA at $2.49 for 87.
Sheetz is $2.55.
Funny, I missed the (insert natural disaster or incident of terrorism of your choice here) that the traders are using as an excuse this time.
Oh wait... I know... maybe it was all the pointless gloom and doom drumbeat in the media. Yea, that's the ticket. Why look at anything real as far and supply and demand goes. Let's run the whole thing on what we FEEL is going to happen.
Osama Bin Laden Surrenders
Saddam Pleads Guilty, Graciously Accepts Death Sentence
War in Iraq is Over
Al Qaeda Enters into Peace Negotiations
President Bush's Approval Rating at 99.9% with .1% Allowed for Error
U.S. Has $600 Billion Trade Surplus with China
Regular at the Sunoco at Rhawn and Verree in NE Philly was $2.59 at lunchtime. Now it's $2.65!
Regular at the Hess station near my workplace was $2.53 at lunchtime. Now it's $2.61!!!
A six and eight cent jump in 5 hours? What happened? Did Al Qaeda blow up the Statue of Liberty or did an earthquake wipe out Texas? As usual, nobody's doing anything about it but offering excuses.
Have to repost my sightings as things changed in a 9-hour period:
4/6/06 - near work (western suburbs of Chi-town), 6:30am:
Reg/Med/Premium
Fuel: 2.49/2.60/2.75 Meijers and Sonic
Fuel: 2.65/2.78/2.87 Shell, Mobil, BP and the like
Same stations, 5:30pm
Fuel: 2.78/2.87/2.98 Shell, Mobil, BP and the like
:sick:
supposedly energy stocks tanked today.
maybe prices will drop tomorrow. doubt it.
me: well you can bet on future events, which is what markets and equities markets do based on 1) present events that will have an effect on the future, or 2) a general prediction of the future.
2) would include: having a feeling that in the next several months one or more of the following things will disrupt energy supplies - hurricanes, Nigerian rebels, Iran, political turmoil in other countries ... The more things to worry about, the higher the probability that there will be problems.
Apple stock went way up the other day because they announced their computers will now work with windows. They FEEL they'll sell many more computers. Were the investors foolish? should they have waited until Apple actually sold those computers and announced the profit?
Mobil
2.97 Super
2.87 Premium
2.69 Regular
Where is all the outrage like last summer? How come its only when prices reach new highs that people call for lower prices? Last year when it reached this level there was outrage everywhere it was the only thing that actually helped bring gas prices down. :mad:
Rocky :P
That's part of the pricing psychology. Jack it up till people whine, lower it a bit (but not to previous levels) to appease them, then jack it up again...repeat over and over. Two steps forward, one step back. Hurricane season should be fun this year...I've already seen meteorological predictions of another rough season. Maybe that has the speculators excited too.
This year's profits should create some excellent tax breaks and other associated perks.
Hess, up 9 cents in one day to $2.58 for 87.
Sheetz, Exxon, and Citgo, up 10 cents to $2.65 for 87.
Getting close to Katrina panic prices.
I did hear today on NPR that prices are rising because demand remains very high (I assume they meant in the US, not necessarily the entire world), and MTBE is being phased out as a clean-air gasoline additive. This is because MTBE has been implicated in ground water contamination from leaky fuel storage tanks.
The only substitute for MTBE is ethanol, the price of which is shooting through the roof. And the East and West coasts have it especially bad, because ethanol has to be trucked in from the middle of the country. It can't be transported through pipelines because it absorbs water. Trucking of course is more expensive.
Now if you think clean air is something we can do without, I remind you of two rather disturbing sights on my cross-country trek last December. In the middle of nowhere (western Utah on Routes 6/50), we saw an ominous gray haze enveloping the northeastern sky as we headed east. At first I thought it was a huge coal-fired power plant causing the problem, but as we got closer to the plant, it became obvious that the power plant wasn't the source, but rather the still very distant metro Salt Lake City area (which we skirted well to the south).
Then a few days later, after crossing the Continental Divide and heading east out of Canon City, CO, we saw the same spreading gray haze, this time emanating from the Pueblo, CO metro area (and maybe Colorado Springs as well).
Possibly because we were in such unpopulated areas that the contrast between clean and polluted air was so stark, but you never really think of Salt Lake City and Pueblo in the same way as Los Angeles or New York. Scary.
kcram - Pickups Host
me: A lot of people realize that outrage does not work. It does not make things better. Saving gas or producing more energy are ways to do that. If "outrage" at high prices or gas shortages worked, the problem would have been solved in the 70's! Or in the 80's.
If you don't like paying the price, there's not much you can do but buy less (or none). Personally I'm going to reduce my gas usage by moving, reducing my commute from 30 miles (though I carpool) to live in an apartment 1-2 miles from work. And - if the Caliber SRT4 is really nice I might trade in my Firebird for it, and get a couple of mpg higher.