Gas prices.......

[Jeffrey Travis]

....in Atlanta climbed from around 3.55/gal to 3.99 or above from 8am to 5pm.



I went by a quick trip on the way home at 6pm - 3.89. 2 hours later 3.99. Had even heard one place took it to 5.20 (did not see it though).



10pm, same price, every pump full. Across the street, every pump full price was 3.65 - gas truck was in the lot.



Who really is to blame? Bush, no. Obama, no. Al Gore, no. The true blame lies with.......the media. They put everybody into this frenzy with IKE and run out of gas worries, the gas stations pick up on it and just continue to jack the prices. Feel like I hit the lottery by filling both tanks at 3.55 a few days ago.



Media...bunch of assholes.



JT#14

 

[Brian Curry]

No Sh*t jumped here today 0.14c a litre (0.52/ us gal.) with crude at $101per barrel WHAT! aaaarghh

 

[Roxane Evans]

Here in Michigan it went from 3.99 to 4.29.

 

[Richard L]

The place where I buy gas is just a few block away from work and they tend to make any price increases on Thursdays and lower prices on Mondays, but usually sometime around lunch time. I have seen the prices between going to lunch and returning.



I had forgot to get gas Thursday evening on my way home so I ran up and got gas Friday about 10:00am...Gas had jumped to $3.89 for premium. 12 cents over night.



I think the hike was again due to speculators affraid that the refineries allong the coast my get damaged as well as the offshore oil rigs.



...Rich

 

[Dallas Starr]

i love how oil companies take advantages of natural disasters as an excuse to jack gas prices. Ever since KATRINA they seemed to have found an easy way to bump up gas prices 10% and then lower it 6 or 7% afterwards to make you believe that things are back to normal prices.

 

[robert broere]

prices jumped from 3.59 to 3.79. and didn't oil drop below 100 dollars.

 

[Jim parnell]

yesterday afternoon it ranged from 4.69 to 3.99/gal in East TN, have heard reports of it being over $5/gal in KY, just gonna stay home and watch the ballgame I guess.

 

[Doctor CAD]

$3.66 to $4.09 during the 8 hours I was at work.



The gas in the tanks was already paid for, why the hike? I could see if they bought another tankfull during the day and had to raise prices to pay for it, but that isn't the reason.



A co worker was waiting in line and the price went up 10 cents during his wait!

 

[Chris Taylor]

$3.69 yesterday to $4.19 this morning in NW Ohio. Just pure highway robbery! :angry:

 

[Jeff Jolley]

The worst terrorist in this country is our own news media. They will do what ever it takes to pray on people to try and terrify them into watching to see what will happen next. I refuse to watch not only local news, which in Orlando is one of the biggest jokes in the country, but also any national news. I'll read news sources because then I decide what is worth reading.

 

[Gavin Allan]

Still $3.49 here...

 

[Thomas Rogers]

Can anyone explain to me why we don't have refineries outside of hurricane alley?



Gas jumped 15¢ a gallon here in southeastern PA today.



TJR

 

[Tom Schindler]

We have a refinery in Canton, OH. The oil they refine comes from a pipeline from the gulf.



There are refinneries all over the USA.





Tom

 

[Chris Taylor]

Can anyone explain to me why we don't have refineries outside of hurricane alley?

Sunoco has one in Toledo and 2 in Philly. BP has one in Toledo too. Both use a mix of Canadian and Oklahoma crude, but gas prices still jumped $0.40/gal today. Why??? How did IKE affect the cost of gas in NW Ohio the night it came ashore? :angry:



As I said before, pure greed and robbery by the oil companies...

 

[Rahul Sharma]

absolutely what ChrisT said...



blatant abuse of using a natural disaster as an excuse to hike the prices....ridiculous...

 

[Tom Schindler]

Why??? How did IKE affect the cost of gas in NW Ohio the night it came ashore?

Let me see if I can explain this in simple terms.



Lets say, the USA consumes 1 million gallons of gasoline. That 1 million gallons of gasoline is being produced by 10 refineries.



A storm comes through and shuts down just 1 refinery.



We now have a 10% reduction in the production of gasoline.



The 9 refineries can only produce 900,000 gallons of gasoline per day.



The USA (in our hypothetical theory) consumes 1 million gallons per day, but we have a supply of 900,000 gallons.



Supply and demand says demand is exceeding supply, therefore the price goes up.



Does that make sense?





Tom

 

[Paul McDevitt]

Tom,



It makes sense if it wasn't an oversimplification. As of last night, there still have been no jump in gas prices in the Philadelphia area.



Chris T - It has always rubbed me wrong that even though Sunoco has a refinery within 10 miles of my home, their gas has always been the most expensive. This has changed recently, they are now competitive where before, they were always 7-9 cents per gallon higher.

 

[Jeffksf B]

How come gas prices didn't move much last week with the other hurricane that hit the gulf?

 

[Thomas Rogers]

PMcD said:

As of last night, there still have been no jump in gas prices in the Philadelphia area.

Belay that...the price keeps going up...



As of this morning, still about 25¢ higher in the Philly 'burbs than last week at this time. Was 3.33, now 3.58.



TJR

 

[Chris Taylor]

Let me see if I can explain this in simple terms.

Yup, I do understand supply and demand. However, the supply of gas and crude in this part of the country, with two refineries in my town, has not been affected yet. Maybe in a week or so, but not the night that IKE hits the coast. I also realize that the oil rigs started being shut down several days before IKE hit, but again, the 2 refineries in my town do not get their crude from the gulf. And the price of crude has NOT gone up(yet)... In fact, according to the link below, it has now fallen below $100!



http://money.cnn.com/data/commodities/



So why the $0.40/gal increase the night IKE hit? This was not just in the company owned stations, but the franchised one and the independents too.



Sorry, that's just too much coincidence. The retail end is taking profits right now based on the scare of IKE, and not an increase even in crude prices.

Chris T - It has always rubbed me wrong that even though Sunoco has a refinery within 10 miles of my home, their gas has always been the most expensive. This has changed recently, they are now competitive where before, they were always 7-9 cents per gallon higher.

The problem with Sunoco is that they are a refiner only. They do not own any oil wells, and the money is being made in crude, not refining. They have actually lost some money over the past 2 quarters, as has Clark(another refiner).



http://phx.corporate-ir.net/phoenix.zhtml?c=99437&p=irol-reportsAnnual



So they are kind of caught in the middle. They have to charge more because they buy their crude from others, so their costs are higher. I have seen the same higher prices here, even at a station right across from the refinery. They are starting to get a bit more competitive, but really, it's just the franchise stations cutting profits on the gas to bring in people to their convienience store, which is where most of the profit comes from.