Rising Gas Prices

[HRx]

lets keep our fingers crossed that the falling gas prices don't skyrocket back to the $3 range in a few weeks! lol

[Hello_It's_Me!]

We're at $2.59 in the Belmont, NY area!

(down from $2.99 two weeks ago)

[Minnymouth]

Heard on the news last night that it has something to do with a "new oil well" that Chevron (?) or one of them "HIT" this past week and is producing them a NICE BIG NEW OIL FIELD TO DRILL IN AND PRODUCE FROM. Was on the Nat news and local also here........

Supposed to relief some of our dependence on foreign oil......


WE'LL SEE.....................

[Hello_It's_Me!]

I wondered that also MinnyMouth, but that oil well is small compared to our nations usage. It will add to our stockpile, but I don't think it's going to give us much relief on foreign dependence.

But what do I know?

[Minnymouth]

Just reading on the Net today that a "oil man" in Lousiana is drilling in his own front yard looking for a big well there........ (he also owns a big oil place and trucking place)....

Says it'll keep his autos running......... Says he doesn't want to be dependent on foreign oils anylonger.....

Interesting....

[lilgoose]

Minny, Can't believe that things have yet to be resolved for you! I hope that soon it will be over or at least that light at the end of the tunnel will start to shine a little brighter!

Been gone for a while and I come back to see that there are still those who must belittle and put down others (maybe to feel better about themselves??)....referring to the Sticky: Buying a house after bankruptcy. I just don't know why a person can't ask a question without getting dumped on by those who should just dry up and blow away! The last time I was on here, that is what happened to me and I just decided that I didn't need to hear someone's "lack of knowledge of me or the topic" inputs. Life is too short to give them the time of day and I was too busy with the kids to do so.

Anyway, back to the original.....

Gas in Ohio is to be the lowest or close to the lowest in the country! YIPPEE!! It is around $2.20 a gal.

Now, I heard a couple of days ago that BP Pet has admitted to PRICE FIXING and there was to be an investigation. They are one of the BIGGEST profit companies in the oil field. I haven't heard anything since then.

Anyone know any more? What does that mean for the consumer? Is the heating bills going up since the gas prices have come down? Is there some sort of conspiracy at work here that makes us think we are saving money? Okay conspiracy is far-fetched, but it does make one think!

Also, DH and I feel this is just being done since the mid-term elections are around the corner.

I don't see how the supply and demand has changed THAT drastically since the end of summer and start of the school year. See, I know that we backed off our driving and didn't take a vacation this summer due to the gas prices...So we didn't aid in the demand percentage.

How many people REALLY did drive even more over the summer with the high gas prices??? Most people probably did the errands and running that they would normally have done no matter the gas prices. And, if this is true, then where did the high demand come from????

Why do they think we are dumb consumers? The problem is that we have to pay no matter the price the oil companies know this, so therefore, there is no compassion or caring...Just the mighty dollar! Doesn't make us dumb and blind, just makes us poor suckers who can't defend ourselves...

Speaking of dollars.....

Let's discuss the diesel end of this....It takes 30% less money to refine it, but yet it costs 30% higher than gasoline. It is a by-product of gasoline, thereby making it a "profit" item that would have been discarded to start with.

Yes, I heard something about having new rules and regs about the sulfur content, but what about farm diesel? That could also be used with a little motifying and yet that price hasn't seen the huge increase that the commercial diesel has seen! I know that semi trucks can run on this type of fuel, but there is a BIG fine if they are caught.

[anonymuse]

Speaking of dollars.....

Let's discuss the diesel end of this....It takes 30% less money to refine it, but yet it costs 30% higher than gasoline. It is a by-product of gasoline, thereby making it a "profit" item that would have been discarded to start with.

I work at a petroleum engineering firm--this is the guys take on it. Diesel is refined from crude oil and the process is cheaper. However, the best/easier ("sweet") crude to get this from is from the middle east resulting in increased delivery costs. Plus, a year ago, new standards were put in that required eliminating more sulfur which increased the production costs. Then, there is just plain old supply and demand--if they think they can get away with it, they'll keep charging higher prices as more people move to diesel engines for better fuel efficiency.

[debtisbad]

I really hope I am wrong on this, but I, too, believe it is because of the midterm elections. Everyone knows that the higher gas prices have had a significant effect on the economy. GB approval ratings were way down. Today on GMA they talked about approval ratings being back up. I think they are now around 43%. I don't want to soung like a cynic but I am!!!

[lilgoose]

If I may.....Yes, people are switching over to diesel for that reason, but the bottom line profit is still there...May be a little less than 30% but it is still there. You can't tell me that the increase in costs made the prices jump THAT much higher than gasoline, when there is (supposedly) 3 different grades to gas to take into consideration? Come on....

My husband spent almost HALF a year ago in fuel as to what he is spending today. Now, everyone is spending more, true..but when you are talking diesel for semis and the amount that is spent and where this dollar amount has to come from, there is no comparison. He spends about $1000 a week in fuel and doesn't get more than 5 hours from our house! That really eats into what the company makes (works for a very small company that is leased onto a huge company, in which doesn't pay for any of the fuel costs of the trucks).

Now, the supply and demand on semis would be from the consumer needing more "things" such as groceries, clothing, toys, furniture, office supplies, etc....But, if the economy is so bad and the auto makers are making less vehicles due to the high gas prices, then the trucking companies should be slowing down THEREBY making the supply and demand less of a need.

I just spoke with him about this and he is not running any more than he did a year ago. The miles he drives is the same, the amount of fuel used is the sasme. My brother, who is also a transportologist, hauls totally different things and hasn't increased his miles either........

Leads me to believe that the "SUPPLY AND DEMAND" is really a smoke~screen for "LET'S LINE OUR POCKETS" from the big oil companies......

Please don't give me the song and dance about how the cost of things is going up....Yep, they are but they are going up because the trucking companies are raising their rates and fuel surchages to pay for the increase in fuel....Gee, that comes full circle to putting the cause where the problem started in the first place~~~AT THE PUMP!!!

Sorry, must be in "one of those moods" today and just seem to be full of something or other!

[AMISLANDER]

prices are dropping!

2.67 at the 711 bradenton

[FilingOnMyOwn]

Should be under 2.50 by november, if not under 2.40. But I dunno if we'll ever see those prices under $2 again that everyone is longing for, lol

[razorguns]

it's bad actually here in la.

lower gas prices means more cars on the road - and in la - that means MORE traffic.

I actually wish for $4.00/gallon. I might drive above 30mph someday.

r

[SinkingFast]

Should be under 2.50 by november, if not under 2.40. But I dunno if we'll ever see those prices under $2 again that everyone is longing for, lol

We're at $2.46 for regular here now. And pricing has been headed down for the last few weeks.

I thought for sure price would go up over the Labor Day weekend, but it didn't. It held steady then and has dropped since.

Gas always costs somewhat more in summer. They take advantage of people traveling for summer vacations.

But, midterm elections sure makes sense to me as well.

[Peevee]

Republicans have to do something or they are fixing to be unemployed.

[queerguy]

$2.39 Hannibal Mo.