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Thread: gas prices

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    gas prices

    not to freak everyone out, but a quick thought I have. Can gas prices rise a lot in one day...say .40-.50? My wife was at a baby shower today and some girls finace there works in the fuel industry and he was told that the prices are adjusting that much tomorrow. Seems unlikely..although with the way things are lately I fiiled up anyway. I know this Ferris Bueller hear say, but thought I would share.


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    Re: gas prices

    Sure they can go up .40 in a day, but it is usually caused by a refinery fire or hurricane or someting.


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    Re: gas prices

    I expect $3.75/gallon by Memorial Day (for the cheapest grade). Nothing concrete to support it, just a hunch with the way prices have been fluctuating lately for no apparent reason. And Memorial Day weekend is traditionally a heavy travel weekend and they always like to stick us because of course, they can never forsee increases in demand and prepare for it.

    The better question is, why are gas prices continuing to rise even though we have proven reductions in demand in this country over the past 2 quarters? This little article may have some insight into this:

    U.S. refiners may cut gasoline output on weak profit - Kansas Gas Prices

    The real reason is because fuel prices do not obey the laws of supply and demand like they try to lead us to believe. Oil companies have "gotten used" to those massive profits and cannot allow those profits to fall now, because they have shareholders to keep happy. Reductions in profits mean regression in the business, and they can't have that. In the meantime, fuel prices are destroying our economy due to the costs being passed on to consumers at all levels.

    Sigh. I'm done rambling for now.



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    Re: gas prices

    Gas was like $1.10 in Canada last week. Of course, that was per liter.



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    Re: gas prices

    Quote Originally Posted by ISUAlum2002 View Post
    I expect $3.75/gallon by Memorial Day (for the cheapest grade). Nothing concrete to support it, just a hunch with the way prices have been fluctuating lately for no apparent reason. And Memorial Day weekend is traditionally a heavy travel weekend and they always like to stick us because of course, they can never forsee increases in demand and prepare for it.

    The better question is, why are gas prices continuing to rise even though we have proven reductions in demand in this country over the past 2 quarters? This little article may have some insight into this:

    U.S. refiners may cut gasoline output on weak profit - Kansas Gas Prices

    The real reason is because fuel prices do not obey the laws of supply and demand like they try to lead us to believe. Oil companies have "gotten used" to those massive profits and cannot allow those profits to fall now, because they have shareholders to keep happy. Reductions in profits mean regression in the business, and they can't have that. In the meantime, fuel prices are destroying our economy due to the costs being passed on to consumers at all levels.

    Sigh. I'm done rambling for now.

    That article really disgusts me. I'm sick of the greed and selfishness in our economy. When will it end?



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    Re: gas prices

    Glad I drive a company car these days!



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    Re: gas prices

    Of course, the fact that the dollar sucks doesn't exactly help things much. When the dollar is continually worth less in the global marketplace, of course their price to us is going to go up.



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    Re: gas prices

    Seems like gas prices do not follow competition models either. I know there are small amounts of refiners in the US, but help me out here. I will use Kum & Go gas stations vs. BP Amoco gas stations.

    Oil comes into the refineries and is made into gasoline and then transported all over the country. Why would/should gas prices be the same at Kum & Go and BP Amoco? BP owns all parts of their supply chain and Kum & Go does not. Kum & Go has their own transport company (Solar) but BP can refine their own gas so in theory should have less cost as they are not buying gas from a 'middle man'. There should be a price difference at all these gas stations.

    If I were running for president my main theme would be that 10 years from now the US will import 0 barrels of oil. The US will use some of its own oil for awhile but technology will be developed so oil can be replaced. This mimics Kenedy in the early 60's saying that the US will put a man on the moon by the end of the decade. This will spurred by tax breaks to private industry. This will lessen the chance of the US being brought to its knees by other countries, lessen the chance of war for the US (several other countries too) and be a huge boon to the US economy as the world will want the technology. The US needs to take this leadership role if we want to remain the #1 country in the world.



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    Re: gas prices

    Quote Originally Posted by SeattleClone View Post
    Gas was like $1.10 in Canada last week. Of course, that was per liter.
    If you convert that to metric (double it and add 30), that means gas is $32.20. Holy cats!!



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    Re: gas prices

    Quote Originally Posted by cstrunk View Post
    When will it end?
    As far as gas prices, it will end when

    Quote Originally Posted by twojman View Post
    the US will import 0 barrels of oil.


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    Re: gas prices

    Quote Originally Posted by balken View Post
    If you convert that to metric (double it and add 30), that means gas is $32.20. Holy cats!!
    1 liter = 0.264 gallons. Gas in Canada = $1.10 per liter. $1.10/0.264 = $4.17 per gallon.

    Liters already are in metric, no need to convert...

    Double it and add 30 sounds like a rudimentary method to convert from celsius to fahrenheit. That should actually be degrees Celsius x 1.8 + 32 = degrees Fahrenheit


    Last edited by SeattleClone; 03-30-2008 at 11:23 PM.

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    Re: gas prices

    I have a thought...
    Now, i know this is unlikely, but just hear me out.
    What if America was to set a side one day a year (or however long) and shut down all of the gas stations, so that nobody would fill up. This would include everything, except airplanes. Would gas inventory get backed up so much from nobody getting gas be enough to drop gas prices across america, dramatically???



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    Re: gas prices

    Quote Originally Posted by cyclonedave25 View Post
    I have a thought...
    Now, i know this is unlikely, but just hear me out.
    What if America was to set a side one day a year (or however long) and shut down all of the gas stations, so that nobody would fill up. This would include everything, except airplanes. Would gas inventory get backed up so much from nobody getting gas be enough to drop gas prices across america, dramatically???
    No. Look at it this way. If this were to occur on a Monday, those who needed to fill up on Monday would just fill up on Tuesday, and those who needed to fill up on Tuesday would fill up also. So it would actually cause a spike in demand on Tuesday that could potentially increase prices. The gas companies would go through the same tired drill (jack prices up by $.25/gallon overnight, then slowly let them trickle back down over the course of the next 2 weeks).

    The only way to affect change in gas prices and sustain them is to consistently use less fuel, as a nation. Do your part and run your errands one day a week and plan your routes to drive as little as possible. Carpool, get a vehicle that uses less fuel. Etc. etc.



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    Re: gas prices

    Quote Originally Posted by SeattleClone View Post
    1 liter = 0.264 gallons. Gas in Canada = $1.10 per liter. $1.10/0.264 = $4.17 per gallon.

    Liters already are in metric, no need to convert...

    Double it and add 30 sounds like a rudimentary method to convert from celsius to fahrenheit. That should actually be degrees Celsius x 1.8 + 32 = degrees Fahrenheit
    What about the exchange rate?



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    Re: gas prices

    Quote Originally Posted by Cyclonepride View Post
    What about the exchange rate?
    I always thought the US dollar was worth more than Canada, hence the cover price of books and magazines always being something like $20 US, $22.50 Canada (just an approximation). But, when I was in Canada I realized that the Canadian dollar is actually worth about the same as the US dollar.
    Exchange rates- Rates and Statistics- Bank of Canada

    Either way, that does not account for a HUGE difference in prices.


    Last edited by SeattleClone; 03-30-2008 at 11:35 PM.

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