Hurricane and gas prices

[granpa in Cincy]

Took a ride this AM. In the morning I saw gas prices 3.59, 3.69, 3.79 on East side of Cincinnati.

One Kroger store had 3.25.

All that time, I didn't need gas.

Getting closer to home and about 1:30 PM I'm seeing 3.85, 3.89 and 3.99.

Shell took the cake at 4.01.

Didn't fill up yet. :gaah: :shocked: :banghead:

[Grandpa Spyder]

Prices around here jumped $.30 per gal. today Reg. 3.78 high test 4.16

[Bob Denman]

We're pretty much in the mid $3.90s right now back here... :shocked:
I'm waiting for the strategic oil reserves to get tapped in order to lower fuel prices for the elections... :gaah:

NOT meant as a political statement; just a fuel price statement... :opps:

[ARtraveler]

As I have stated many times: The petroleum companies use anything and everything as an excuse to gouge the customer. The hurricane has not hit yet, we do not have a gas shortage, and the gas in the underground tanks was probably paid for at a pre-hurricane price. There is no excuse for raising the price other than gouging.

RE: Alaska: I paid 3.84 for premium the other day. Regular going for $3.64. That's Eagle River. Currently in Anchorage--3.79-3.81 for regular. Premium 20 cents per gallon higher.

Someone from the state legislature suggested an investigation into gas prices in AK about 3 months ago--result--gas went down from the 4.30's to current prices. Go Figure!

[Bob Denman]

Could you please send them down here to investigate?

[zrc]

When gas bottomed out here, at 2.87 it then skyrocketed back to 3.20, and they blamed the corn drought. A drought that will effect absolutely NOTHING until next year. But on the "news" and I call news in our country 99% bull$h!!, they reported the corn shortage (which isnt happening yet, at all) was the cause. Due to regulatory necessity of ethnol. I mean really.

So basically now big gas companies are blaming corn for their prices going up, when at one point at time they blamed the inclusion of oil for having to raise prices. If we didnt have it and went to no corn gas wouldnt it go back down?

[Tomite]

I don't understand it going up like it has. It's $3.97 today. I need gas in my car and spyder and refuse to buy it. Hope it goes back down soon or I'm gonna run out. lol

[shelbydave]

You haven't seen the trend since Katrina? They raise prices by large increments until people start to really complain, then they drop them a tiny bit to appease us.... It stays there until they have another opportunity.

Since our infrastructure has obviously been fixed over the last 7 years, I'm still waiting for the pre-Katrina prices...

[shelbydave]

I'm waiting for the strategic oil reserves to get tapped in order to lower fuel prices for the elections... :gaah:

:popcorn::popcorn::popcorn:

[bruiser]

Stopped this morning to fill up the company truck. The price on the pump was 3.68 for regular. While there, they came out and changed it on the sign to 3.75. As soon as I finished filling up they shut off the pump to change it to the new price. I agree, how can they change the price on fuel already in the ground??? That's gouging for sure IMHO. Fuel is a commodity and as with all commodities is traded by speculators. They control the prices. I read where Hugo Chavez said that the price of fuel in Venezuala will stay the same even after the major fire that put one of their refineries out of business. So we get a hurricane, a refinery fire and corn shortage and we get a raise in the price of fuel already in the tanks. :banghead:

[grumpybob]

When gas bottomed out here, at 2.87 it then skyrocketed back to 3.20, and they blamed the corn drought. A drought that will effect absolutely NOTHING until next year. But on the "news" and I call news in our country 99% bull$h!!, they reported the corn shortage (which isnt happening yet, at all) was the cause. Due to regulatory necessity of ethnol. I mean really.

So basically now big gas companies are blaming corn for their prices going up, when at one point at time they blamed the inclusion of oil for having to raise prices. If we didnt have it and went to no corn gas wouldnt it go back down?

Gas with no corn around Syracuse is $.30 higher than gas with corn.

[Cal777]

My dad runs a small country store and gets an email giving wholesale gas prices every morning. Yesterday 87 went up .10 per gallon and today it went up another .20 per gallon.
Rudy

[Dizneyman]

We need to do like they recently did in Europe, and all the trucks pulled over to the side of the road for a day. Amazingly enough, gas prices dropped.:banghead:

[Pennyrick]

It is based on Replacement Cost of the gasoline.

Assume you run a station with 10,000 gallons underground and you have paid $3.00 a gallon for that inventory. You have $30,000 invested in that.

If you know that gas is going to start jumping in price in the next week to ten days, you can figure the public is going to have a 'run' on your supply and you are going to have to fill the tanks sooner than usual.

So, the price to re-fill is going to cost you $3.25 a gallon or, $2,500 more.

If the strategic reserve releases or some other OPEC move causes the price to drop and gasoline prices drop... how are you going to cover your losses if that stuff in the ground that you own is now worth less than you paid for it?

Or it just may drop down so that in order to be competitive in the market you have to sell it at a price that may not be less than you paid but is still too low to cover your overhead on operations.

When the price begins to drop demand eases off but when it starts to rise, demand increases. This can put the retailer in a real squeeze if he gets stuck with high priced stuff underground.

[coz]

i find it hilarious how everybody bitches about an extra 1.50 to fill the tank of their 30 THOUSAND DOLLAR TOY.:roflblack::roflblack::roflblack: Just park it for a week until gas comes back down:roflblack::roflblack::roflblack: or buy one less ice cream.
This is the double gouge, hurricane and holiday weekend:banghead:

[boborgera]

It is based on Replacement Cost of the gasoline.

.

Exactly, But most people will never get it, :banghead:

[d.o.spyder-rts]

It is based on Replacement Cost of the gasoline.

Assume you run a station with 10,000 gallons underground and you have paid $3.00 a gallon for that inventory. You have $30,000 invested in that.

If you know that gas is going to start jumping in price in the next week to ten days, you can figure the public is going to have a 'run' on your supply and you are going to have to fill the tanks sooner than usual.

So, the price to re-fill is going to cost you $3.25 a gallon or, $2,500 more.

If the strategic reserve releases or some other OPEC move causes the price to drop and gasoline prices drop... how are you going to cover your losses if that stuff in the ground that you own is now worth less than you paid for it?

Or it just may drop down so that in order to be competitive in the market you have to sell it at a price that may not be less than you paid but is still too low to cover your overhead on operations.

When the price begins to drop demand eases off but when it starts to rise, demand increases. This can put the retailer in a real squeeze if he gets stuck with high priced stuff underground.

I understand your point however, it does not justify raising the price on current inventory. When your cost increases, then raise the price to the consumer. Nothing more than greed. The oil companies will always get the price they want for their product. Dale

[Firefly]

I'm going to raise the price of printing for my customers every time there's a forest fire..... because obviously paper will go up...... :roflblack:

[btcherm]

gas here is at 4.10 a gal. for reg

[ARtraveler]

d.o.spyder--rts said it best I think. The rise of a price is not justified on what's in the tank now. The price was adjusted to cover the profit margin when that batch of gas was put in the storage tank. When your new batch arrives at a new price--then raise the price to cover your profit margin. Otherwise, plain and simple--its gouging.

I think I should have a raise this week in pay so that I can cover the new costs that I will be facing next week--good luck on that one too!

[Pennyrick]

Exactly, But most people will never get it, :banghead:

Based on subsequent responses, it looks like you are correct. They just don't get it.

Here's another way of looking at it.

You are investing your money in a product with volatile pricing that is not controlled by you? If the retailer buys several thousands of dollars worth of product that subsequently drops in price, forcing the price down lower than what he has invested... he will get burned... big time! He cannot pass the increase along on the back end or he will not be competitive in the marketplace. He must price the product based on replacement cost or he won't be in business very long.

l

[TimPeck]

$4.25 for 87 octane. :yikes:

[jScotD]

anybody ever watch Harley Davidison and the Marlboro Man and his reaction to the high fuel prices?

jumped 20¢ in 2 days here .. speculators.. gotta love 'em

[boborgera]

I have a 5 gal can of gas that i keep in my barn , I bought it @325 a gal. To replace it now @375 a gal.
Some guy wanted to buy the 5 gal's and pay me @325 a gal.
If i charged him @375 a gal would i be price gouging, :dontknow:
I mean it's been setting in my tank at @325 a gal.

[MarkLawson]

As I understand it, that fire at the refinery in Venezuela, is at the largest refinery in the world. Since the US imports at least 11% of the refined gasoline we use each day, that fire very likely is impacting what we pay at the pump. That along with about 78% of the oil platforms in the gulf being shut down due to the storm.

When you see the price of a barrel of crude oil (42 gallons per barrel), today it closed @ $96.06, that comes to about $2.29 a gallon of crude oil before the ship leaves the dock. It then has to be transported half way around the world to a refinery and eventually to a retailer near you & who knows how many stops in between. After the enormous investment, much of it at significant risk, the oil company has about a 7% return on their investment. When gasoline cost $0.25, that means they made a touch over 3-cents a gallon. Today, if a gallon costs $4.00 a gallon, that 7% works out to be about 28-cents. Oil companies make record profits because they make record investments. 7% of a trillion dollars is a lot more than 7% of a single dollar, but still only 7%.

We pay much more in taxes than we do in profits. But in our society, taxes are good and profits are evil...

[Big Arm]

$3.71 here today

[arris]

We need to do like they recently did in Europe, and all the trucks pulled over to the side of the road for a day. Amazingly enough, gas prices dropped.:banghead:

That would be a good idea except you can not get two people to say today is Tuesday:roflblack::yes: let alone block the roads or pull over to the side of the roads:yes:
Just some food for thougt. If everybody took one day off from work with no pay, can you imagine how much money the government would lose.That is except Drs, nurses fireman and police. Then they would have to sit up and take notice.

[Rlobell]

I live in South Louisiana. filled up my tanks in prep for hurricane and paid $3.73 for 87 and that's with the "no price gouging law" that is in effect for during hurricanes!


Sent from my iPad using Tapatalk HD

[ARtraveler]

boborgera: that is not what I am talking about. The guy on the farm can do anything he wants.

I am sick and tired of financing the speculators who play with our lives. I could care less if some market speculator looses his money on a bad commodity purchase. Why should we the public pay for their stupid, greedy mistakes.

The same thing happend in the stock market. The speculators took over and the people holding 401 k's etc lost over half the value of their retirement savings. The speculators took the bail out money, paid themselves bonuses, continue to live the high life, and the average person now wonders where their retirement is coming from. I'm going on 67 and have to work three jobs until I die I guess. Therefore, I don't have sympathy for thieves. I have yet to hear of any of these people going to jail.

PS. gas went up 11 cents a gallon here today. That must be some powerful hurricane.

You are I are going to continue to respectfully disagree on this one.

[Ga Blue Knight]

Since I have to work this weekend when everyone is off I should get paid extra to cover the reduced supply of workers. Wait a min I am getting paid more!

[MouthPiece]

Gas in the underground tanks was bought many moons ago. If the demand is there, then the price will remain. If the demand is not, then it will go down. JMHO

Chris

[Bob Denman]

or buy one less ice cream


:yikes: I can't believe that you just said that! :shocked:

[boborgera]

You are I are going to continue to respectfully disagree on this one.


I guess we'll have to,
But i didn't hear anyone complaining before 2008, when their 401K's were sky high:dontknow:

[Bob Denman]

You guys have retirement plans?? :shocked:
I was too busy investing in food, shelter and clothing...
My plan is to die at my desk in a puddle of drool on the file of some customer who's always been a pain in the butt. I just can't decide who's gonna get that honor! :roflblack:

[gene0108]

Gas prices yesterday jumped 39 cents at one station because of the storm. It is just starting to get bad here, wind is really blowing..

[DRTSB]

Took a ride this AM. In the morning I saw gas prices 3.59, 3.69, 3.79 on East side of Cincinnati.

One Kroger store had 3.25.

All that time, I didn't need gas.

Getting closer to home and about 1:30 PM I'm seeing 3.85, 3.89 and 3.99.

Shell took the cake at 4.01.

Didn't fill up yet. :gaah: :shocked: :banghead:


Up here in Canada we are paying $1.25 - $1.30 a litre, there are 3.785 litres in a US gallon, that means we pay $4.92 a gallon!

Fell Better!


Dave ;)

[Rar]

$4.29 here this morning in upstate NY. $4.08 across Lake Champlain in Vermont. Those who live closer to a bridge, just drive to Vermont.

[CyncySpyder]

i find it hilarious how everybody bitches about an extra 1.50 to fill the tank of their 30 THOUSAND DOLLAR TOY.:roflblack::roflblack::roflblack: Just park it for a week until gas comes back down:roflblack::roflblack::roflblack: or buy one less ice cream. This is the double gouge, hurricane and holiday weekend:banghead:


:lecturef_smilie:For some of us, the :spyder2: isn't a $30K Toy, and due to financial constraints, some of us have made a great many sacrifices just to be able to have and enjoy a :spyder2: Being our only vehicle, parking it for a week is NOT an option:lecturef_smilie:

[zrc]

i find it hilarious how everybody bitches about an extra 1.50 to fill the tank of their 30 THOUSAND DOLLAR TOY.:roflblack::roflblack::roflblack: Just park it for a week until gas comes back down:roflblack::roflblack::roflblack: or buy one less ice cream.
This is the double gouge, hurricane and holiday weekend:banghead:


I am with Cyncy on this one, it is no longer a Toy, it is my only mode of transportation as I have cancelled insurance on my car and am currently selling it. Also, it was only 14k for my spyder, which is 6k less than my car was when I bought it. So overall, my spyder is more economical to drive than my car, and is less expensive, and my main mode of transportation. So, we are not all fun time only riders.

[Spyder777]

My buddies in Israel are paying between $7 and $8 per gallon. Wy wife's family in Austria pay between $6.50 and $7 per gallon.

Those of you that are paying in the high $3 and $4 range are doing so because of your state taxes. Look at how much gas is in Georgia and south Carolina and you will see just how much you are paying in state taxes.

[mxz600]

We pay much more in taxes than we do in profits. But in our society, taxes are good and profits are evil...

Taxes are good? Not in my world, I'm being taxed to death, literally. But that is an argument for another day in a different thread.

[zrc]

Taxes are good? Not in my world, I'm being taxed to death, literally. But that is an argument for another day in a different thread.

Im with him, and to back that statement up, I am also ok with profit to a reasonable extent. I mean its one thing to cry about everything and how its not your fault and gas is expensive, but the records sales and profits year after year, at least learn to lie in your accounting practices.

[waytootall67]

Up here in Canada we are paying $1.25 - $1.30 a litre, there are 3.785 litres in a US gallon, that means we pay $4.92 a gallon!

Fell Better!


Dave ;)

Vancouver is at $1.35/L thats $5.10/gal. Here in Calgary its $1.115/L or $ 4.35 and we are the cheapest in the country, and we made the darn stuff and send it south!!!!:banghead:

[Littlebadwolf]

I ride the Spyder more than I do my conversion van..initially due to the price of gas and huge difference in mileage..Now I can't even remember the last time I drove the van. It's been sitting in the driveway collecting dust...But the real reason is I just enjoy riding the Spyder.

[Dragonrider]

Horse Rubbish!! There is NO logic to gas pricing. Over the last few days I've been to the Oregon Coast and to a little town in northwestern Nevada called Denio - the price for regular in Astoria, Oregon was $3.93, in Portland, Oregon was $4.11, and in Denio $3.68.

Gas has to be trucked to Denio - it's in the middle of nowhere, and the same holds true for Astoria. In Portland alone, the prices vary over $0.50, depending on where you live.

[Spyder777]

It is very easy to understand logic.

A gas station is a business. They are in business to make money. They calculate their cost of the product they sell, whether the cost to buy that product is going to be more or less next time they go to buy it, and how much they need to charge the customer to make make profit, but still be competitive, and set the price you pay.

I'm only 30 and I can figure this stuff out.

Also, driving is a privelage, not a constitutional right. It is pay to play and if you want to play, you gotta pay.

And even if the Spyder is your only vehicle and only cost $14,000 it is still a luxury vehicle. You could have bought a brand new Kia for $10,000 with a 10 year/100,000 mile warranty.

Enjoy your Spyder, don't worry too much about gas prices and start burning some gas.

[R30SHIRE]

Some blame the oil companies, and we should, but most of the blame goes to Wall Street. Good old money hungry Wall Street. There is a 100% chance that a recession is near and it will be twice as bad as 2008. Save your money, what's left of it.

[shelbydave]

Horse Rubbish!! There is NO logic to gas pricing. Over the last few days I've been to the Oregon Coast and to a little town in northwestern Nevada called Denio - the price for regular in Astoria, Oregon was $3.93, in Portland, Oregon was $4.11, and in Denio $3.68.

Gas has to be trucked to Denio - it's in the middle of nowhere, and the same holds true for Astoria. In Portland alone, the prices vary over $0.50, depending on where you live.

That goes back to supply vs. demand.

Also, since you are talking about prices in two states, taxes could play into it. Here in North Carolina, we have higher taxes on gas than South Carolina, so anytime I'm down in that neck of the woods, I'll time my return fill up so I can have as close to a full tank when I get home, rather than just driving home and then having to fill up at a higher price.

[mooneych]

Oh my,

Gas is becoming just as expensive as my Venti Latte at SB. What will I do??

[boborgera]

You guys have retirement plans?? :shocked:
I was too busy investing in food, shelter and clothing...
My plan is to die at my desk in a puddle of drool on the file of some customer who's always been a pain in the butt. I just can't decide who's gonna get that honor! :roflblack:


I started mine in 67, A tax ''deferred'' self employed plan in a mutual fund, Retired at 57, Now the tax is paid as i withdraw money, And I'm happy to pay the tax NOW because that means i made money on the deferred tax all these years, and it was painless, Instead of sending the government a check at the end of the year i just put it in my fund so there was more money to invest.. accrue.
Anyone who is self employed is nuts not to set one up.

[shelbydave]

Just said on the news that supply is not the problem with the gas prices... Stock Speculation is the problem.

[granpa in Cincy]

Up here in Canada we are paying $1.25 - $1.30 a litre, there are 3.785 litres in a US gallon, that means we pay $4.92 a gallon!

Fell Better!


Dave ;)

No. I don't feel better because you pay more than I do. But I did fill up at 3.95 this AM and took my wife to lunch and a 100 mile ride. :yes: :clap::clap::clap::clap:

[Bob Denman]

That's the spirit!! :2thumbs:
I heard that since Isaac missed the platforms, the price of oil might drop a little... :dontknow: :roflblack:
Or will they now blame it on the refineries having to shut down for a couple of days??? :gaah:

[granpa in Cincy]

Don't forget the upcoming holiday where prices traditionally go up!

[Spyder777]

Prior to 2009, when gas was at $4 everyone blamed Bush.

How come it's not *****'s fault when the price of gasoline increased over $1.50 per gallon since he took office.

Isn't selective memory convenient...

[boborgera]

Don't forget the upcoming holiday where prices traditionally go up!

I guess that's because people traditionally drive more ,;)

[coz]

tito and dave, i think you guys are about the only ones that ride your bikes full time. big plus for you, only gassing up one vehicle, only insuring and maintaining one vehicle. HOWEVER,i'm sure you guys are a very small minority around here. most of us regard the spyder as a toy. if i'm wrong i'm quite sure i'll hear all about it:roflblack:.

[Ga Blue Knight]

My Spyder is not a toy. I ride 3 to 4 days a week year round. It is pretty much a regular mode of transportation. If you consider it a toy it's no wonder that dealers treat you like a child.

[ARtraveler]

Sorry, not considered a toy here either. It is my commute vehicle all summer long. So far I have missed only three days due to severe weather. It is also my recreational vehicle and gets used between 300-800 miles most weekends.

[coz]

that's four,,,,,,,,,,,,,,,out of eight thousand +. 3 or 4 days a week, or part of the year is not FULL TIME. dave rydes his FULL TIME.

[coz]

My Spyder is not a toy. I ride 3 to 4 days a week year round. It is pretty much a regular mode of transportation. If you consider it a toy it's no wonder that dealers treat you like a child.:hun:

[ARtraveler]

I so want to say more--but I wont. Have a good day ;)

[coz]

we all get p o 'd when gas jumps fifty cents, and it's an obvious gouge. you ride your spyder ALOT, i get that. if there were no such thing as a spyder, you would be putting gas in something. the worst part is there's not a thing we can do about it except vote for whoever you think will bring relief.

[Bob Denman]

It's not my only vehicle; but given my other choice...
It's a toy in that the Missus and I go for strictly pleasure rides on the weekends with it, but it's my main axe during the workweek. :D
I don't begrudge the oil companies making money; this is a society based upon businesses making money. It's when the money is being made by speculators who will use whatever tools they posess to fatten their wallets, that my goat starts feeling... got! http://smileys.smileycentral.com/cat/16/16_10_170.gif

[revjvegas]

IMO, it is such a crock when they raise prices just cause there's a storm in the Gulf.

Sure they have to evac all the platforms and production shuts down, but we only get roughly 30% of our oil from the Gulf region.


Though I cannot :cus: too much ... its nice to see our Exxon stock go up in value for a change.