I also have a question. Why is it when Exxon makes $10 billion in profit they are gouging the consumer. When Toyota makes $10 billion in profit they are a well run company. Is it not possible that Toyota is gouging the car buying public? Or is it only the oil companies that gouge?
Quite frankly I am happy that the oil companies are making money. My 401K has oil stocks in it. I don't see a penny when Toyota makes $10 Billion because it is all going back to Japan.
How did I know you would turn this back to Toyota?
The only way you are seeing the oil company profits is because you are an investor. I'm jealous I don't have money to invest in the oil companies but my TIAA-CREF has been doing well. They probably have oil stocks in it as well.
I would use Microsoft, except this is a car forum. I just don't understand why whenever an oil company is making a big profit they are gouging. Yet any other industry with huge profits are just doing a good job.
Nah, not to worry. Dean is headed to the Yucatan and most of the Chevron refinery is not affected. Just gives the commodity guys a chance to try and score.
Well, there's really no "gouging" going on at all, as I have shown in other forums.
There is an "international oil and fuel market" and the forces in that market are not controlled and cannot be controlled by the actions of a few persons.
Oil and gas cost what they do because of the world situation, with hundreds, if not THOUSANDS of factors in play, working together, which drive the prices.
There is no gouging happening at the "oil company" levels.
Gouging is when a FUEL RETAILER gets gas for say $1.50 wholesale and charges $2.50 a gallon for it. THAT IS GOUGING.
I think you caused a little bit here as petrol prices are ticking up a bit. 87 octane that was $2.87 is now $2.91, with one station, Gas City, running at $3.09. One Speedway is at $2.99, was @ $2.94 earlier in the week.
what are ya gonna do, take a slow boat to China and yell and scream at them for growing their economy to one much more "democratic" and thus needing automobiles? If they are needing more automobiles then they are needing much more gasoline. If they can't produce their own gasoline they must import the gasoline, thus pushing up demand past what can be easily supplied. This pushes up the price of the gasoline for the Chinese and then pushes up the price of gasoline for the American people, too.
I paid $2.89/gal for 87 no-lead yesterday at the Standard Chevron in hot and dusty Willcox, AZ.
Ours ticked down 2 more cents this morning. $2.69 at ARCO. Have not checked Costco for a couple days. We are about a month ahead of the price drop last year. We have 40 more cents to get as low as a year ago.
Gouging is when a FUEL RETAILER gets gas for say $1.50 wholesale and charges $2.50 a gallon for it. THAT IS GOUGING.
some do, but competition generaly prevents it. keep in mind, the station has to include the price of maintaining the pumps, regular replacement of the tanks, the electricity to run the pumps, the expense of people who "gas and go" and one of the most overlooked hidden surcharges, the 3-5% that visa mastercard et all skim off the top. If gas is $3 a gallon, the credit card companies will charge the station between 9 and 15 cents per gallon. and the station, not the card holder, pays that.
Why is it when Exxon makes $10 billion in profit they are gouging the consumer. When Toyota makes $10 billion in profit they are a well run company
short answer, politics. Most of the current oil problems are a direct result of government action, and in some cases, inaction. But they aren't going to take the heat for it, especially when far to many otherwise intelligent, rational people are willing to believe every oil company conspiracy theory that is presented to them.
and thats despite the fact that since the 70's the government has investigated the oil companies nearly 20 times and never, not once, found any evidence of price gouging, collusion, or any other shaddy practices.
We had a "double bottom" in central VA. I paid $1.99 for 87 just before Thanksgiving and $1.98 from mid January through early February of this year.
Lowest currently in my immediate area is $2.58.
RE: oil companies. I think the average consumer probably ranks oil companies up there (or I should say done there) with insurance companies, lawyers, politicians, and car dealers. But automakers (especially of their own vehicle) get a much more favorable opinion.
we went to a Costco that's fairly local, and I noticed a nearby Exxon station that was down to $2.61 for 87. Back my way it seems to still be holding around $2.75-$2.77.
Would've been tempted to fill up, but it was getting dark, and that neighborhood's starting to look like you need some brass knuckles and a switchblade just to keep your head above water! Ain't worth it to save 14-16 cents per gallon! :surprise:
Lowest price is $2.649 for 87 octane in Salisbury, MD, hub city of the Delmarva Peninsula, state of Delaware, Eastern Shore of Maryland, Eastern Shore of Virginia.
That's about right, because gas peaked last year in July-August at around $3.00 in places like NJ and WV. It never quite got that high in my area (central VA).
This year the peak was in May (and we reached the magic $3.00 this time, with other areas of the US much higher), and prices have been heading south since -- around $2.58 in my area and as reported above, as low as $2.41 in NJ.
The stations I reported that were $2.91 ~ $2.94 rose to $2.99 Friday afternoon. The Speedway that was $2.99 is now $3.05. The Gas City prices held over the weekend and this morning at $3.09, with E85 @ $2.59.
Not sure why we jumped back up to the $3.00 barrier in less than a week. :confuse: I paid $2.87 last Wednesday, prices went to $2.99 on Friday.
"Last year on August 17, 2006, San Diego's average was around $3.17 and today they are around $2.81. So San Diego was 36 cents higher at this time last year."
Gas prices floated lower for several days and now all stations have lined up at $2.95. Is it because a hurricane was going to hit Hawaii? Or is it because there's a hurricane in the southern Gulf?
Are there refineries there? That's the usual excuse.
Drove past my usual station and price is now $3.15!! Less than a week ago it was $2.87.
28 cent jump in a week. A few stations still at the $2.99/$3.01 range. Must be using this rain and Dean as an excuse for the jump, despite there haven't been any refinery closings, the hurricane is no where near an off-shore rig (though the Mexico offshore rigs on the Bay of Campeche were evacuated) and just yesterday it was stated there wasn't a serious threat anywhere. Maybe it's that mad back-to-school rush to Wal-Mart, K-Mart and the other stores.
Yessir, in Chi-town (recently moved to the NW burbs). Again, not sure why the petrol jumped like it did. I'm thinking of filling up early to save a little coin.
That is nice to know the talks are re-opening. But if there's cash to be made by the dumping Mayor Daley will be all over it. :mad:
This is really strange. San Diego is usually at the forefront of higher gas prices. Ours dropped another 2 cents this morning. Just filled the wife's LS400 with premium for $2.87. Regular was $2.67. Diesel is stuck at 3 bucks it looks like.
the most likely reason why prices are going up is hurricain dean. mexico is shutting down most of their oil production till it passes, and guess who our 2 biggest suppliers of crude are? I'll give you a hint, one of them is canada.
for me, prices have held steady. of the three nearest stations, 2 are still 2.55, and the third has increased to 2.58
Thank goodness you are here. i think I would go ballistic if you didn't follow up my posts. Normally i am pretty calm and collected but gas prices are one of about 3 things that really irritate me.
Is there a forum on Edmunds that discusses oil prices with respect to production, distribution, refineries, etc.? If not, it may be a good idea to start one that has the type of information you have been posting.
I did get lucky though, the Jewel station by me dropped back down to $2.87 (from $2.99). Though I didn't need to fill-up (could've went a few more days) I decided to top off.
Strange thing is everyone else is still at the $2.99, $3.09, $3.15 stage. :confuse:
I can't wait myself, especially now that Dean's been down-graded to Cat-1.
I'm thinking maybe the jump in prices is due to the street/basement flooding in the area because of the constant rain (which we sorely needed), or lack of sun-light all day, a light breeze blowing, TV shows in re-runs...
We really should start up a new discussion for the production, distribution & refining issue. I'd take care of it but I'm off to the dentist. :P Anyone?
Anybody can file a lawsuit. keep in mind the government has done no less than 15 full blown investigations over the last 20 years or so and never found any evidence of price fixing or other illegal activities. I think the most recent one was just last year, and they found absolutely nothing.
Just got back form Ontario where gas is selling for about $.97 per liter. That's pretty much $4 a gallon. Cross back into NY state and it was $2.90 or so. Now back in NJ where it is $2.60 at the local Sunoco. Whew!
2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
Gas prices in So. Maryland are $2.55/gallon. That's 54 cents lower than they were at Memorial Day. I just saw a story that said gasoline stockpiles are at a historic low, only a 20 day supply. We're also heading into the last holiday/driving weekend of the season. Oil prices are around $72/barrel, which is within $6 of the all time high. For all the conspiracy mongers out there, how do you reconcile this? With all these factors supporting higher gas prices why have the prices gone down? I'm sure there are some very creative explanations. My explanation is that the gasoline market is very complicated and unpredictable, but not artificially manipulated as many would suggest.
Comments
I also have a question. Why is it when Exxon makes $10 billion in profit they are gouging the consumer. When Toyota makes $10 billion in profit they are a well run company. Is it not possible that Toyota is gouging the car buying public? Or is it only the oil companies that gouge?
Quite frankly I am happy that the oil companies are making money. My 401K has oil stocks in it. I don't see a penny when Toyota makes $10 Billion because it is all going back to Japan.
The only way you are seeing the oil company profits is because you are an investor. I'm jealous I don't have money to invest in the oil companies but my TIAA-CREF has been doing well. They probably have oil stocks in it as well.
Fire shuts crude unit at Chevron's top US refinery
Not to mention Hurricane Dean....
There is an "international oil and fuel market" and the forces in that market are not controlled and cannot be controlled by the actions of a few persons.
Oil and gas cost what they do because of the world situation, with hundreds, if not THOUSANDS of factors in play, working together, which drive the prices.
There is no gouging happening at the "oil company" levels.
Gouging is when a FUEL RETAILER gets gas for say $1.50 wholesale and charges $2.50 a gallon for it. THAT IS GOUGING.
Local ARCO stations still at $2.71 for unleaded regular.
Stop the Presses and Behead the Muffins !!! LOL
Phoenix prices $2.45 to $2.49 for the lowest. Average is $2.55 today.
I paid $2.89/gal for 87 no-lead yesterday at the Standard Chevron in hot and dusty Willcox, AZ.
2021 Kia Soul LX 6-speed stick
Last year on August 17, 2006, San Diego's average was around $3.17 and today they are around $2.81. So you were 36 cents higher last year, right?
Did you mean to say that last year you were 40 cents higher than now?
some do, but competition generaly prevents it. keep in mind, the station has to include the price of maintaining the pumps, regular replacement of the tanks, the electricity to run the pumps, the expense of people who "gas and go" and one of the most overlooked hidden surcharges, the 3-5% that visa mastercard et all skim off the top. If gas is $3 a gallon, the credit card companies will charge the station between 9 and 15 cents per gallon. and the station, not the card holder, pays that.
short answer, politics. Most of the current oil problems are a direct result of government action, and in some cases, inaction. But they aren't going to take the heat for it, especially when far to many otherwise intelligent, rational people are willing to believe every oil company conspiracy theory that is presented to them.
and thats despite the fact that since the 70's the government has investigated the oil companies nearly 20 times and never, not once, found any evidence of price gouging, collusion, or any other shaddy practices.
Lowest currently in my immediate area is $2.58.
RE: oil companies. I think the average consumer probably ranks oil companies up there (or I should say done there) with insurance companies, lawyers, politicians, and car dealers. But automakers (especially of their own vehicle) get a much more favorable opinion.
Would've been tempted to fill up, but it was getting dark, and that neighborhood's starting to look like you need some brass knuckles and a switchblade just to keep your head above water! Ain't worth it to save 14-16 cents per gallon! :surprise:
This year the peak was in May (and we reached the magic $3.00 this time, with other areas of the US much higher), and prices have been heading south since -- around $2.58 in my area and as reported above, as low as $2.41 in NJ.
$2.79
$2.91 (some have mid-grade for $2.89)
$2.99 (hi-test is under $3.00 finally)
$3.05 diesel
Not sure why we jumped back up to the $3.00 barrier in less than a week. :confuse: I paid $2.87 last Wednesday, prices went to $2.99 on Friday.
Must be this rain we're getting...
"Last year on August 17, 2006, San Diego's average was around $3.17 and today they are around $2.81. So San Diego was 36 cents higher at this time last year."
So yes, we are ~40 cents CHEAPER than last year.
Are there refineries there? That's the usual excuse.
2014 Malibu 2LT, 2015 Cruze 2LT,
28 cent jump in a week. A few stations still at the $2.99/$3.01 range. Must be using this rain and Dean as an excuse for the jump, despite there haven't been any refinery closings, the hurricane is no where near an off-shore rig (though the Mexico offshore rigs on the Bay of Campeche were evacuated) and just yesterday it was stated there wasn't a serious threat anywhere. Maybe it's that mad back-to-school rush to Wal-Mart, K-Mart and the other stores.
This is getting old & tiring...
btw, Chicago Gets BP To Reopen Lake Michigan Discharge Permit Discussion so maybe BP won't be dumping so much stuff in the lake after all.
That is nice to know the talks are re-opening. But if there's cash to be made by the dumping Mayor Daley will be all over it. :mad:
This is the kind of thing that upsets people. No legitimate reason for gas to go up. I can't wait to hear the excuses for this increase in gas.
$2.69 for regular unleaded in York, PA. That was this morning. We'll see what happens on the drive home.
for me, prices have held steady. of the three nearest stations, 2 are still 2.55, and the third has increased to 2.58
Saudi Arabia? No, I get the drift that it's Mexico... right? Hence the upcharge on their closing their oil rigs down.
$2.55 is a good price compared to $2.95 and below here.
2014 Malibu 2LT, 2015 Cruze 2LT,
Is there a forum on Edmunds that discusses oil prices with respect to production, distribution, refineries, etc.? If not, it may be a good idea to start one that has the type of information you have been posting.
Feel free to crank up a new one.
I did get lucky though, the Jewel station by me dropped back down to $2.87 (from $2.99). Though I didn't need to fill-up (could've went a few more days) I decided to top off.
Strange thing is everyone else is still at the $2.99, $3.09, $3.15 stage. :confuse:
I'm thinking maybe the jump in prices is due to the street/basement flooding in the area because of the constant rain (which we sorely needed), or lack of sun-light all day, a light breeze blowing, TV shows in re-runs...
So many lies, I mean "reasons", to choose from.
We really should start up a new discussion for the production, distribution & refining issue. I'd take care of it but I'm off to the dentist. :P Anyone?
That's pretty dang low
87 - $2.719
89 - $2.899
93 - $3.059
diesel - $3.079
kcram - Pickups Host
$2.75 regular
$2.85 midgrade
$2.95 premium
It looks like we're back to a dime a gallon between grades here again.
$3.05 for diesel; it's holding steady at that price.
$2.73 near Charleston, WV
$2.72 in Indianapolis
$2.87 or so in northern Indiana
$2.99 to $3.09 in the Detroit area
$2.79 in northwest Ohio