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Price of GAS?

Discussion in 'Off Topic Threads' started by BILL GRILL, May 29, 2009.

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  1. BILL GRILL

    BILL GRILL Well-Known Member

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    What the hell gives it's $2.75 here?
     
  2. Old Texas Marine

    Old Texas Marine Member

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    A reasonably accurate rule-of-thumb is that the price per gal. of gas will be 1/25th of the price of a barrel of oil.

    Oil is in the mid to high sixty dollar range, so there you go. If you live in states that have higher or lower gas taxes it will affect the ratio slightly.

    The oil industry needs $60-70 oil to be viable. Not $140 and not $30. Keep the speculators out of the mix so we will have some stability in pricing.

    A well costs $2.5 million to bring in. Regular unleaded gas is cheaper than bottled water or soft drinks per gallon. Enjoy it. It is one of the best values around. Try ethanol or bio fuel if you dispute my logic.

    HBT
     
  3. cubancigar2000

    cubancigar2000 Well-Known Member

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    Idaho $2.37
     
  4. JerryP

    JerryP Active Member

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    The speculators are at it , again.
     
  5. stokinpls

    stokinpls Well-Known Member

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    $2.69 Land of Blago.
     
  6. Barry C. Roach

    Barry C. Roach Well-Known Member

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  7. kong

    kong TS Member

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    $2.64 here in central Indiana. I did get diesel today for $2.14 so I stopped and topped off the truck and brought home 25 gallons for the tractor. Wish I would have had my 150 gallon tank in the back of the truck to fill too...Brian
     
  8. grunt

    grunt TS Supporters TS Supporters

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    2.70 for unleaded in Kalifornia. Were broke no money. were supporting the Illegals.
     
  9. 3357

    3357 Member

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    $2.82 in Traverse City, MI
     
  10. Jollytrapshooter

    Jollytrapshooter Member

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    Darn those pesky oil companies making a profit, we should all make the same amount of money and all be equal! All joking aside, it's simple supply and demand. It's warm out now and everyone is getting out of the house and doing more. You yourself are probably contributing by driving to the range 2 or 3 times a week after not going at all for the past 4 months. Demand went up, supply went down, prices then went up. It's kind of how our economy works... Josh
     
  11. David Knapp

    David Knapp TS Member

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    It is not simply supply and demand. Gasoline usage is down 9% from this time last year. Refineries are running at 85% capacity. This rise in prices is pure speculation which should be banned.


    David Knapp
     
  12. bocephus

    bocephus Member

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    hussein has already stated that they need the price of gas at 4 dollars plus in order to make the new electric sardine cans they call cars more appealing to us. Any less and we wouldn't buy them and we all know that hussein has told his auto companies what to build.
     
  13. ricks1

    ricks1 TS Member

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    Our Gov here in WV said he was going to sue the Local Marithon Refinery for price gougeing. They said they would not ship to WV. Nice job GOV rick
     
  14. Jollytrapshooter

    Jollytrapshooter Member

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    Sources please...
     
  15. Trappy12

    Trappy12 Active Member

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    $4.24 here in Illinois, oh wait, that was last summer. Quit complaining.
    -Trappy
     
  16. halfmile

    halfmile Well-Known Member

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    2.69 in GB, Bill. Get a BP credit card and you have a 10% discount. Of course you can save a nickel if you fill up here, LOL.

    "Driving Season" is the excuse, greed is the motivation.

    HM
     
  17. Dahaub

    Dahaub Active Member

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    Last evening in Champaign gas was 2.50. I hear on the radio that the OPEC has set some kind of mark for their delivery of oil. The speculators are driving the price up, the demand is up but the supply is at an all-time high. Least that is what was on the radio. Where those people get their information is not known to me. Dan
     
  18. halfmile

    halfmile Well-Known Member

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    Go back to 1973, that was a real joke. NO storage space anywhere, tankers lined up offshore waiting, and we had to have a shortage, and gas staions closed on Sunday.

    But it worked, they found the storage space they needed in millions of half full gas tanks all over the country. I recall seeing an abandoned station (buildings torn down) and a tanker there after midnight having its hoses in the ground.

    Face it, they have had a century to get the public's number.

    HM
     
  19. David Knapp

    David Knapp TS Member

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    Jolly

    If you are speaking to me, I will tell you how to get my sources. Go to Google, Type "oil inventory report", click "I am feeling lucky" on the main Google page. This will take you to the weekly Reports that the government releases. I read these reports every week. They are released at 10:30 A.M. every week. If you read those you will see what I am talking about. I will state again, the recent rise in gas prices is not a supply and demand situation.

    David Knapp
     
  20. jimrich60

    jimrich60 Member

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    It never fails to amaze me how many self proclaimed conservatives and anti-leftys nevertheless buy into the left wing/media mantras of blame the corporations, or blame "speculators" or anyone who who simply makes a profit in business. Those "greedly oil companies" by the way actually make less profit (about 4 percent) on their investment) than most companies strive for (the goal of most is 5 percent or better) and less than You probably look for in any investments you make. In reality, the price of gas is most directly related to the price of crude. For an explanation of rising gas prices, consider that when our government finally authorized at least limited expansion of oil exploration and drilling in 2008, crude oil prices started falling from a high over $130/barrel, and fell to about $33/barrel at the start of 2009- even without actually drilling yet. Just the threat that we would drill was enough. Gas prices of course fell back to under $2.00 barrel as a result. When Obama became President, one of his first actions was to rescind all authorization for expanded oil exploration and drilling of our own oil resources. Immediately crude oil prices in the world started to rise again and have now reached back to over $63.00/barrel (and soon predicted to be over $80.00 per barrel. Obama has several times stated that he wants/needs to have gas over $4.00/gallon because that is the ony way he will get Americans to give up their trucks and SUVs. So when you see gas prices rising, put the blame where it belongs-your government in action. Detroit and the oil companies don't want high prices, your government does. It is just afraid to do this with massive tax increases (as done in Europe) so it will do so through the "back door" by keeping oil supplies down in the U.S.

    Jim R
     
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