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8.31.2005
Get Ready
A caller on WBAP's Mark Davis show this morning said he had just left Abilene and gas prices were $3.09 a gallon. With the hurricane coming through, I think we are about to get hit hard.
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34 comments:
I think you are correct!!!!
It is $2.86 in Decatur today
I thought price gouging was illegal when it involved such natural disasters as this. Those oil boys will use anything for an excuse to raise prices.
I paid $2.61 at noon in Bridgeport. I guess the "oil boys" forgot about the Dry creek store.
The Texaco across from James Wood was $2.69 this morning. Surprised me because the Alsups was already at $2.86.
In south fort worth the Race trac was 2.59 when I came through, one of the guys went to lunch and caught them in the middle of a change, it was already 2.70, but they were changing it to 2.90, he said expect 3.00 tomorrow and that is for regular.
I heard this morning that gasoline futures are trading at 2.70, we pay 60-70cents more per gallon, so expect it at 3.25 in the next few weeks.
Does anyone know why the price jumps up the day future prices are established and yet that gas won't actually be at the pump for months. Seems like the price at the pump should be based on what they paid for it months ago.
Here's the thing that urks me...
They are already talking about gas at $4.00 a gallon in the news. The oil companies have us over a barrel. If they raise the price of beer to $50.00 a case I stop drinking it, but we have to have gas and all these guys need is a reason (made up or real) to raise price and they do.
m&m your are absolutely correct. We are being screwed by the station owners today just because they can get away with it. I have a friend who’s family owns a C-store and the gas you buy today has already been paid for when it was delivered.
Saddle your horses boys!!! Remember all those stories from our parents about walking to school and work up hill and down hill, 10 miles in the snow. Well if the gas prices keep rising, we'll have our own snow stories to tell.
Forget all the other comments. Barry, I'm disturbed by the fact that you listen to Mark Davis. Mark Davis makes Rush Limbaugh look like the Reverend Jesse Jackson.
8/31/2005 4:25 p.m.
Cheapest gas:
Decatur is $2.46
(Fina)
100 S. Washburn St. Decatur
Cheapest gas:
Bridgeport $2.51
1501 Chico HWY
Bridgeport, Tx
Speculating ceteris paribus without a positive statement to back up your theory about why gas is rising, will just create hearsay-and later rumors. I would not advise listening to someone that holds a degree in Journalism talk about the economy. Right now, the gas prices are rising mainly due to basic supply and demand. As a nation the scarcity of oil has reached an all time high this week, as we all have heard many oil rigs in the Gulf have had to shutdown. The problem is we are losing 2 million barrels of our own oil a day, due to Hurricane "Katrina". This shortage of oil, coupled with the demand of current U.S. citizens for gasoline, heating oil, etc. has increased the cost of oil by as much as $.45 in some parts of the country overnight. Thus, to offset costs, gas stations have no choice but to set gas prices $.5-.25 higher than normal. The price will continue to rise as long as there is a demand, and a negative daily supply. Opening the S.P.O.R. tanks will only add fuel to the fire-but that is a different subject. As far as oil futures are concerned, I would invest heavily in any company currently exploring-natural gas, minerals, oil. This will be the key to our growing economic problems that lie with prices at the pump. The more we invest in these companies as Americans, whether at the pump or by the NYSE, more refineries will be built-which will enable larger stockpiles of oil. $4 a gallon is a serious longshot, and I highly doubt that happening-well it is possible with Bush in office (no offense). I can see $3.50 in the future by the end of this Fall. But, with reconstruction efforts, and with investors help-I can see oil sliding back down to $2.20-$2.00 by next Spring no problem.
To the last poster. Everything you say makes sense with the exception of why station owners have to raise their price the second a disaster strikes.
Another term for "supply & demand" is "how much are they willing to pay".
Anon #13,
I understand what you are saying. I should have touched base on that. You are right, there is no reason to raise prices as soon as a natural disaster occurs. That is just greedy store clerks trying to make a quick buck off of fear. Fear of low supply, fear of the inevitable, fear of higher and higher prices. The average price in the U.S. is at $2.61 or so. If you see prices at roughly $.30-.50 more, then I urge you to report them.
This is a direct line to the Department of Energy (National Price Gouging Hotline)
(800) 244-3301
The "greedy store clerks" have nothing to do with it. They probably make $7.00/hr. I think the greedy station owners and oil companies are the real perpetrators here. Those "greedy store clerks" are probably getting the worst deal. Low pay and now hostility.
Dime to a dollar says that if the current administration and congress announced tomorrow there would be a wide spread investigation into corporate and retail activities in the energy markets the price would drop like a rock. This is too similar to what Enron did, only on a larger scale.
We need to get out of OPEC as soon as we can. They have us in a catch-22 right now, but as soon as we can rebound the Bush administration should take steps to secure our own oil. Whether by negotiations, or by force.. IE: Iraq
We aren't a member of OPEC....look it up.
I never said we were a member of OPEC. I simply said we need to get out of OPEC. Our government is still dealing with them to get a large supply of our oil. Besides, we are fighting terrorism in Iraq. Do we really need to keep funding it ourselves? What do you think some of the funds made by OPEC member nations fund? Look it up..
OPEC, SCHMOPEK, we will NEVER not be dependent on OPEC for oil. We don't have the reserves and the only other country that might come close is Russia.
Ha ha! I agree with the previous poster. If he had any idea how expensive gas would be if we didn't buy from OPEC countries he would most certainly shat himself.
Easier said than done.....way easier said!!!!
Oh yeah...I forgot to add something to my previous post: LOOK IT UP!!!!
What are you talking about? There are many more resources besides Russia-including:
Other non-OPEC oil-producing nations are:
Azerbaijan
Denmark
Norway
Russia
UK
Canada
Mexico
Oman
Yemen
Angola
Equatorial Guinea
Malaysia
Brunei
East Timor
Also we have the option of drilling into ANWR.
I know you think you know what you are talking about-but you don't. Even if we did not buy from OPEC, and just went with some of the above listed countries, the price of oil would be roughly $1.13 a gallon. Possibly lower depending on how many barrels were imported each day. This has been proven, year after year.
Yes, it is easier said than done, I will give you that. But, what has Bush done to help the situation? OPEC is a joke, and for us to keep paying certain countries for oil-and in return they teach their kids to hate Americans, is absolutely ridiculous.
Before you start shooting your mouth off, go get educated on the subject before you make an uneducated comment as you did.
Lets see here...I'll just go off of your list.
Other non-OPEC oil-producing nations are:
Azerbaijan - Azerbwho???
Denmark - Yeah they have a buttload of oil
Norway - Ditto
Russia - Yes, they have the infrastructure in place to produce enough oil for us to buy it at a reasonable price....riiiiiight.
UK - You've got to be kidding
Canada - OK, I'll give you this one
Mexico - Again...no infastructure in place to produce
Oman - Not enough resources
Yemen - Ditto
Angola - Hmmmm...that damn infrastructure thing is a problem again.
Equatorial Guinea - Riiiiiiight
Malaysia - Too little reserves
Brunei - Ditto
East Timor - And once again...Ditto
Wow, I would like to personally thank you for solving the oil crisis for us. Bush should appoint you Energy Secretary, it might be his best move yet.
Since when is oil sold by the gallon??? If I did the math correctly, you claim that if we purchased from the above listed countries it would be $62.15 per barrel(1.13 * 55). This is almost not even funny(I did get a chuckle, so don't feel too bad, you are still humoring me)....its absurd.
Good luck with your $62.15. Call me when you get it all worked out.
As you can see I am very well educated and have done my homework on the subject.
By the way, I'm not a Bush supporter. HILLARY 2008!!!!! ALL THE WAY!!!! WOOOOO HOOOO!!!!
A little addenum to my previous post. If you've ever taken an entry level Economics class you would know that to be a member of OPEC, you have to EXPORT at least a certain amount of oil. Just because these countries you listed may be producing it, doesn't mean they have the capacity to export it. If you WERE EVEN ABLE to go into these countries and drill for oil, you would stretch their supply so thin that you would drive prices higher than they already are.
You humor me greatly. Take your dumb little calculation and configure for todays prices. You said (1.13*55) = $62.15 right? Doesn't make sense, but thats what you said. So now, take our NAP of $2.62*55= $144.10 a barrel with your ridiculous calculation. Yeah, your real educated, learn to count first.
Bush is an oil man, he is making billions right now. Why not fill is pockets and the pockets of all his great grandchildren and their children before the end of his term? He doesn't care that the gas prices are hitting the average working man hard as hell. He is all about the dollar!!!!
You guys are exhausting me.
Anyway, FYI, Sams in North Richland Hills had a price of $2.74 per gallon.
I humor you???? You are the dumbass who doesn't realize that the price of gasoline and the price of crude oil are two different things. Hell yes the price of gas is higher than crude oil because it has to be refined. By your logic you are assuming they are the same.
Both of you need to educate yourselves instead of calling each other names....a barrel of oil is 42 gallons not 55 gallons. 55 gallons is a drum.
Anon #30 is right:
http://www.newton.dep.anl.gov/askasci/eng99/eng99288.htm
Bigcatdaddy, stop acting like you know what you are talking about and heed the facts for once.
Ok, that fine if I'm wrong about the size of a barrel of oil...so what if its 42 gallons....Anonymous whoever's theory is still wrong about buying from that ridiculous list of countries he/she listed.
Do you have a source to prove that he is wrong?
Yeah....Common sense
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