Prices have gone up around twenty cents a gallon here in the last week. The rise is not supported by the market price. Wondering what's driving the increase.
Are There Major Gasoline Hubs in So. Carolina?
- Thread starter DFSNOLE
- Start date
I got gas near downtown Jacksonville yesterday for $1.97 and today the price at the same station is $2.15. Something's up.
See it's not just here. Prices on the Nymex have fluctuated between $1.35 - $1.43 for a month. It's down $0.035 today. Haven't read or heard a reason for the increase.
Refinery maintenance, apparently.
http://www.orlandosentinel.com/business/os-gas-prices-jump-orlando-20151007-story.html
http://www.orlandosentinel.com/business/os-gas-prices-jump-orlando-20151007-story.html
Thanks. But as the article said, most did theirs in September. That's why the prices spiked then.
The gas buddy app sent a push notification to me yesterday saying gas prices are expected to rise. I don't usually get notifications from GB unless it's a relatively significant change, up or down.
There is a big pipeline (colonial I think) that tuns through the upstate of S. Carolina in the Greenville/Spartanburg area and goes on to a big tank farm near Greensboro, NC and beyond.
We get our gas (Western NC) via tanker trucks from a terminal in that area. We always have the most expensive gas in NC except for the coast.
Prices picked up from right at $2.00/per several weeks ago here, but no change over the weekend.I filled up a half hour ago for $2.19/per. A buddy commented to me this morning about how surreal it seems to be complaining about gas getting up to $2.19.
We get our gas (Western NC) via tanker trucks from a terminal in that area. We always have the most expensive gas in NC except for the coast.
Prices picked up from right at $2.00/per several weeks ago here, but no change over the weekend.I filled up a half hour ago for $2.19/per. A buddy commented to me this morning about how surreal it seems to be complaining about gas getting up to $2.19.
Went up 20 cents/gal here in Ohio today. $2.60/gal now.
Several weeks ago it was up at $3/gal then slowly made it down to $2/gal now it's steadily been going back up.
Several weeks ago it was up at $3/gal then slowly made it down to $2/gal now it's steadily been going back up.
The market is down again this morning. Generally the prices rise during maintenance periods because restricted supply drives the market higher. Seeming like the increase was preemptive. Be willing to bet prices don't drop in the same increments if the market stays as it is.
Is 26 cents really that upsetting? Some of you guys follow gas prices a little too much. It is what it is - nothing you can do about it.
You can to some degree change how much gas you use, but I agree with you. If I have to spend $3-4 dollars more a week to fill my tank I'm still coming out WAAAAAAAAAY ahead relative to what gasoline is worth to me.
I'd have a problem if the price of gasoline was $1/gal, but I couldn't find any at the stores...
I wasn't really pissed, kind of an exaggeration on my part. But if the market doesn't go up and the price of gas goes up, I'm losing on both ends...
No 26 cents isn't a big deal when getting gas for 1 vehicle, but when it's multiple vehicles it adds up over time. FYI- the price for crude in Jan. was the same as it now but the price of gas is now 60 cents/gal higher
I remember the last time gas dipped below $2 a gallon. Oil nations rented those giant oil tankers and just had them floating around until the prices went back up. China is falling apart, that in itself is going to cause the decline.
Currently the oil companies use "unrest" in the Middle East as an excuse, the ole' "Iran farted, we must bring up the gas prices because of it" arguement.
Flood, maintenance, Mideast issues, global demand, etc.. What ever card they need to pull they will..
Currently the oil companies use "unrest" in the Middle East as an excuse, the ole' "Iran farted, we must bring up the gas prices because of it" arguement.
Flood, maintenance, Mideast issues, global demand, etc.. What ever card they need to pull they will..
I can tell you the affects of the maintenance on pricing must be regionalized. I was in central Georgia this weekend for some family business and paid $1.98. Most prices were $2.04-$2.08. The highest prices I have seen have been in Walton County.
Oil companies do NOT control the price of oil. And they certainly don't control the price of gas. If they did, the price would be a lot higher than it $47 a bbl.
Calhoun county is probably higher but Walton county along I10 always seem to be some of the highest in fl. FWIW I am in Nashville for a long weekend and paid $1.84 today. Wish I had a big tank in the back of my truck and haul some back to fl.
There was a huge international investigation on this very subject and it was found that many did exactly that. If you think about it it's fairly easy to manipulate prices. A refinery goes down, tension in the Mideast, terror attack, etc..
And it doesn't really matter. Charge whatever people will pay. Supply and demand.
Lol....you spend too much time on the interwebz. The spot market controls the price. Crude was excessively high at 90-100 bbl because the money markets moved their money into the crude commodity market during the this last crash. At one time 84% of the 3-month contracts were sold before they were called--(indication that they were owned by investors and not producers). Oil shale producers flooded the market at that price and OPEC closed the spigot-slightly, not to the levels that they did in the 1980's after the embargo. Because Saudi last a significant market share the last time and did not want to do the same. In the meantime, the money markets have moved their money back into US treasuries (yes, US credit markets are a mess, but still the safest place to stash money and remain somewhat liquid) to avoid the volatility of the crude commodity market. Now OPEC is trying to find where the balance is...I think $60 bbl is the right price.
That's all very good, but when the Saudi King and the other OPEC members state that a "fair" oil price is $120 PB I don't think they will settle for $60. When it was going for $200 a barrel much of that was artificial, but most is supply and demand. If they can move it at $200 they will, if not it drops. Commodity manipulation can only work to a degree, eventually that product has to sell. The housing market was manipulated because they bought up homes and let them sit making an artificial shortage. Oil prices can be manipulated in the same way, and closing a refinery, tension in the Mideast, terrorism, etc.. is just an excuse..
You have that backwards. Supply and demand have less of an affect on the daily market price than speculators moving their money.
The root of the problem is not 'speculators', or 'greedy oil companies'.
When you have governments around the world printing money, that money is going to slosh around the markets and create price swings and malinvestment.
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