Gas?

Just wondering.....

I don't get out to drive much.  I don't see very many gas stations.  And to tell you the truth, I am not going to get in my truck and drive to the nearest gas station just to check for a comparison. 

I have been hearing on the news how there is price gouging because of IKE.  Kentucky's Gov. Steve Beshear had already alerted the state's attorney general to start investigating the stations in KY for gouging.

I heard that the stations in Louisville are at $4.21.  What are the prices like where you're at? 

Stations around me in MD range from $3.37 to $3.65 -- there was no overnight change like there was down south -- but we expect prices to go up here, also.

http://www.fuelgaugereport.com/sbsavg.asp There ya go.

Gas prices jumped $.13 a liter over night.  We're sitting at $1.39 a liter (which is like $5.22 a gallon).

I currently live in North East Louisiana where we were hit by Hurricane Gustav and not so much from Ike (Praise God the farmers do not need anymore rain). But when I went to school firday morning at 7 it was 3.52 which was up about 7 cents rom last week. When I got out of school at 1 it was 3.85. Bull poo poo.

I also drove home to maine this summer (ironically it was cheaper than flying and renting a car). THe cheapest gas I found on my way up there was Virginia and that was 3.65 I think and the most expensive was Conn. at 5 bucks. On my way back it was a little cheaper, but Va. was stil lthe cheapest.

I am so sick of stinkin opec and them raising gas prices because a whale farts in the gulf. Yes, Ike did go over the platforms in the gulf but those things are made to withstand hurricane force winds. Even before Ike hit OPEC put a stop to production. Why? That is unclear at the moment. They made up some exscuse. They were just grouchy because they did not make their 100 billion dolalrs that day. Is it just me or have you guys ever noticed, that when the price of oil goes up gas prices instantly jumps at least 5 to 10 cents. However, when the price of oil drops it takes forever for the gas prices to drop. Things that make you go hmmmmmm!

Yes, I do think that price gaugeing happened in your area. After Katrina hit I was living in Ga. and some stations in Atlanta went up to 6.00 bucks.

Ok I am going to stop pthis rant. Sorry people

jewelsmcblah, where are you from?

Can't blame OPEC for this one -- crude oil prices are actually DOWN (closed under 100 dollars a barrel on Friday, I believe), nope, this is all US GAS wholesalers.  And fear that the refineries in TX will be off line for a long time.  And panic.  And price gouging buy individual gas stations, companies

I usually check toledogasprices.com or whatever the URL is.  It shows gas prices in my city, though it's not always accurate.  That or I just figure, "Oh, $3.49 a gallon, that's $3.29 with my Kroger card.  Works for me!

I drive 63 miles a day for college. 31.5 miles to school, and 31.5 miles home. Gas all summer was $4.90 to $5.00 a gallon, and in August it began to drop, today gas dropped to $4.19. I'm paying about $500 a month just to go to school, gas sucks!

 outside Nashville tn. I got it for 3.49 yesterday and they let me have 10 gal. It's 4.01 now and my brother in law called yesterday and said it was 5.39 there. It's suppost to go up more. My son drives an hr. to work this is going to be rough on him even car pooling.

We don't have a price grouging law in Tn. yet but they are watching the stantions. 

i hear ya pinkchubbymonkey, I drive 50 miles one way to school five days a week. that's about 500 miles a week just going to school. GAS DOES SUCK!!! Like I said it is 3.85 here right now. instead of paying 350 a month I wil be paying 400 a month unless gas drops. I am all for drilling in other parts.

I'm near Birmingham, AL...it was anywhere from 3.89 to 4.19 today around the area....of course most of the gas stations were out of gas.....

 

Beth, I live in Ontario.

I'm in Knoxville TN

All the gas stations anywhere near me are "out" of everything but Premium.

I've seen it anywhere between $4.20 something and $4.99

Friday morning it was about $3.60 something for premium. I heard that it was running out, two people that work with me had to go to several stations just to find gas and then had to wait about 20-30 minutes in line to get to a pump.

So I left then to get gas. They got gas at 8:00 for $3.60. I left at 9:30 and got gas at the second station I went to (first was out completely, second only had high grade) for $3.79.

By the time I left work it was over $4.00 and not almost $5.00.

All I have to say is thank goodness for my Hybrid! I will be able to last on what I have in my car right now for almost a month.

 

Darn!  I thought this discussion was gonna be about something else. 

LOL!  I done killed another discussion!

I'm in Ontario looking at the gas station across my street. $1.13 and a half cent a liter, or $4.29 a gallon. That's actually 10-20 cents cheaper than it's been recently.

i just filled up my tank at $4.99/gal in Atlanta, GA

I live in KY. I am the manager of a gas station (not the owner!).

I love economics.

With that intro -- the prices of gasoline should stabilize. Overall demand declined for the first time in many years, this is a sign that the market price is reaching equilibrium. The economy will recover soon (bc it always does) and inflation will slow. These factors will stabilize the market.

I also have something to say about panic and price raising. The laws of supply and demand play a role in this. First, a hurricane is coming. Production in hte gulf halts until it passes. Supply goes down -- price goes up to lower demand. People freak out and panic and instead of doing what the market needs and lower our demand, we run right out and buy every drop of gas we can. We have increased our demand and further depleted the supply, causing prices to raise AGAIN to combat the demand until we reach equilibrium again.

Lesson -- When the prices jump up, simply buy only the gas you need to get by until it goes back down bc it will. I generally sell 5-6 thousand gallons of gas a day. When the town i live in panicked, I sold close to 12 thousand. What happened the next day? Prices went up again. The independent dealer operating next to me told a shared vendor that his cost for gas went up .63 cents when he had fuel delivered.

Now I do not defend the actions of every retail gasoline outlet NOR do I agree with "Big Oil" companies. I just know my end of things and with all the stuff that happened really got me thinking. People in my town were asking me the craziest things. "Are they really going to ration gas?" "Is the price really going to 6.00 a gallon?" I finally told people to stop watching so much TV. This panic got reflected in the pump price. We were 3.49 before the cost increase, then I know we ended up at 3.99 or 4.09 before it was all over and we are back at 3.79 now. I saw a 3.69 on the way home yesterday so it will likely be 3.69 at my store towards the end of the week.

How does that happen? Well take the guy next to me. He raises prices bc his cost increased. He may even raise his price in anticipation of the delivery bc he knows that once it gets there he will be making pennies on the gallon. My company although still small has more buying power. So although we may get gas cheaper, if we leave our price .10 lower everyone will bum rush our store and we run out of gas. Then we lose inside sales too. And we have to buy at the higher price sooner. So thats why when one station raises they all do. A friend got into a heated discussion with me about that....I truely hate to raise prices .20-.25 at a time but I have to. Our prices increase at the terminal and that has to be reflected at the pump. We can not sell gas at cost. How would we pay wages and the rent or utilities?

So prices drop at the terminal. They lower slowly bc first businesses need to recoup what they have lost selling for pennies on the gallon. Then somebody says, hey if I drop a little now I will be more competitive and get more business. Once everybody sees that somebody went down, others will follow suit or they will lose sales.

Well, that is my thoery based on what I see.

Now lets see if anybody bites my head off lol.

double post, sry.