Because of all the refineries shut down by hurricane Harvey, gas prices have soared on the wholesale market. They went up over 25 cents per gallon today and have gone up around 65 cents this week. I have a feeling we'll be seeing $3 gas again soon.
Might want to go fill up today
- Thread starter DFSNOLE
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And then when everything comes back online we'll still see $3+ gas
So, that .25 today is a bit under a ten percent jump. Some stations near us are out of fuel. Thankfully, we decided several weeks ago not to travel this holiday weekend. Careful y'all and good luck buying fuel.
QuickTrip out here (think WaWa) is selectively refueling their stations. It's not that there's a shortage in the main reserves locally, it's that they aren't sure yet of when full functionality will return to the refineries off the coast. I believe we started out Monday morning at $2.20 (yes, I round up) per gallon and were at $2.66 on my way home today. Kind of happenstance that I filled up on the way to work yesterday without even thinking "the next little while will be a nightmare."
The Dailys (Shell) station by my house jumped 10 cents a gallon from this morning to this afternoon.
We are having a social media gas panic here. Soccer moms are going to Costco with 3/4th of a tank to top off. It's ridiculous.
The refineries have said they will be back on line in a couple of weeks. The US has plenty of gas in storage.
The refineries have said they will be back on line in a couple of weeks. The US has plenty of gas in storage.
Buddy of mine just shot a pic of an Exxon (yeah) station in Mineral Wells (just west of FTW)... $5/gallon for 87. That, my friends, is gouging.
Yep. Ours went up 20 cents before we could go out and get some. Highest it's been since we've lived here.
I still honestly have no idea what gas costs (aside from $2.XX) or if it's gone up at my normal stations.
That is still less than a ten percent rise. No panic needed. Just buy per normal... if only others would, of course.
Yeah, but folks are in a panic and long lines are forming here in San Antonio. Those long lines are draining the service stations. We just did a 10 mile loop looking for gas. Nada! All the stations were empty except for one and it had about a 40 car line backed up. No doubt they would be empty before we got to the head of the line.
I have never understood the wait in line for hours guy/gal for gas. Just stay the hell home like you were probably told in the first place and don't waste a half tank of gas to top off.
So if gas jumps even $.50/gallon, it will cost you and extra $9.50 a tank of you have a 19 gallon tank. Is that really that big of a deal?
That is about an extra $500 a year if you fill up once a week, so for a lot of people it is a big deal. I post in the LR, so I call that toilet paper, but for some, yes it is.
Facebook was crazy today with all my Dallas friends talking about the run on gas. One said the price went up $0.15/gallon while they were waiting in line.
This is exactly how we get gasoline shortages. People start to panick and top off their tank. That's five gallons of gas the system hasn't planned for. Five gallons times thousands = artificial shortage.
Big oil isn't the one running up the price on the NYMEX.
Most of yesterday's gains were pared on the overnight markets. At $1.7612 at 6:47 this morning.
I never understood the obsession with gas prices. Let's say the price of gas goes up $0.50 per gallon and you use 12 gallons per week. That's $24 a month. It sucks, sure, but it's not life-changing. Most of you high rollers spend that much on a sixer of craft beer.
I used to look at gas prices more but not so much as I've gotten older. It's not worth it to save what amounts to 2-3 bucks looking for the least expensive gas.
Take yesterday I filled up yesterday and considered stopping at the BJs Warehouse Club to fill up because, even thought its a pain in the ass, it's pretty much on my way home. Then I decided I didn't want to go through the PITA that Philips Hwy can be at 5:00 so I chose to keep going and get gas closer to home where it was 15 cents more a gallon. I have a 17.2 gallon tank so that meant I spent $2.58 to not go through a hassle.
I usually just round to the nearest hundred to avoid the hassle.
For some people though, that $300/year makes a difference. It may even be the difference between driving and deciding to take public transportation.
Yep...there was a station where I lived at the time that went up to like $5 a gallon on 9/12/2001. They reportedly got fined.
You should do some research on who makes the most money per gallon of gas. Hint it is not the oil company.
Unleaded gasoline is continuing to drop on the NYMEX. Now down to $1.7275 from a high yesterday of around $2.15. You know you won't see any prices come down at the pumps until after the holiday weekend and even then they'll fall in increments of pennies instead of the dimes by which they were raised.
I'll take a rising price with gas available to buy over no gas to buy at any price.
How else do you expect newly lowered production to align with demand? Prices are actually more suggestive, and ultimately productive, than any other appeal to limit demand.
The ability to profit from it is what will cause gas to be shipped from other regions to meet need.
People are still going to pay way less for gas than gas is worth to them, all the while cussing the system that actually makes that possible.
Thankfully, a price system doesn't need all the participants to understand how it works to still work. But the ones who are profiting can generally be counted among those who do.
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