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Why High Gas Prices?

Home ▸ Archive ▸ Serious Business ▸ Why High Gas Prices?
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Mar 11, 2011 10:27 AM
They seem to be jumping 10¢ per day. Is supply that short, demand that high? Is this something that should be regulated? Why are they so stinking high, and why do they keep rising, rising, rising? Is this all b/c of stupid speculators?

With this tsunami, I'm sure they'll spike yet again. :(
Mar 11, 2011 10:27am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 11, 2011 10:27 AM
But yesterday was a gas strike. That had to work, right?
Mar 11, 2011 10:27am
LJ's avatar

LJ

Senior Member

16,351 posts
Mar 11, 2011 10:31 AM
Speculation is how the commodities market works. I mean, it has NEVER been a supply and demand market. When people say "speculators" what they really mean is " the majority of people and firms who trade in commodities"

Also, Libya produces a very high quality oil, so while we don't get a majority of our oil from them, not getting it is a hit because of the amount of gasoline that can be refined from it.
Mar 11, 2011 10:31am
se-alum's avatar

se-alum

The Biggest Boss

13,948 posts
Mar 11, 2011 10:31 AM
Prices went up $.20 overnight here. Probably blaming that one on the Earthquake.
Mar 11, 2011 10:31am
Pick6's avatar

Pick6

A USA American

14,946 posts
Mar 11, 2011 10:32 AM
justincredible;707335 wrote:But yesterday was a gas strike. That had to work, right?

I thought it was March 31st, unless there are multiple ones.

I just know I spent $45 to fill up my 12.5 gallons yesterday
Mar 11, 2011 10:32am
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Mar 11, 2011 10:34 AM
Pick6;707344 wrote:I thought it was March 31st, unless there are multiple ones.

I just know I spent $45 to fill up my 12.5 gallons yesterday

I would love to spend $45 for a fillup.
Mar 11, 2011 10:34am
bases_loaded's avatar

bases_loaded

Senior Member

6,912 posts
Mar 11, 2011 10:34 AM
se-alum;707342 wrote:Prices went up $.20 overnight here. Probably blaming that one on the Earthquake.

If it really is supply and demand we should see prices go down because of the quake.
Mar 11, 2011 10:34am
LJ's avatar

LJ

Senior Member

16,351 posts
Mar 11, 2011 10:36 AM
BTW, I use E85 in my truck

$2.89 per gallon. With the loss in MPG it evens out to ~$3.05
Mar 11, 2011 10:36am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 11, 2011 10:37 AM
My truck has a 27 gallon tank. It's getting close to a $100 fill up for me.
Mar 11, 2011 10:37am
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Mar 11, 2011 10:39 AM
I haven't driven my car in a month. Put on 2,000 miles in the past 6 months, mainly from trips to Minneapolis and Kalamazoo. City life!
Mar 11, 2011 10:39am
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Mar 11, 2011 10:39 AM
the price of gas is regulated more than anything in the US right now.

Jeans and hamburgers can have up to 500% mark up over manufacturing costs, and no one bats an eye. but if gas prices get to be more than 20% of production costs, it's price gouging and it's illegal, and it's policed.
Mar 11, 2011 10:39am
T

thavoice

Senior Member

14,376 posts
Mar 11, 2011 10:39 AM
Its not as much supply and demand anymore...it is speculators and such....from what I heard a few experts talk about recently.

...unrest in the middle east....earthquake...tsunami....camel farting in the desert....soon it will be summer blend....etc....etc....etc..
Mar 11, 2011 10:39am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Mar 11, 2011 10:41 AM
justincredible;707351 wrote:My truck has a 27 gallon tank. It's getting close to a $100 fill up for me.

huh? I have a 35.7 gallon tank in my f150. How did you get a 27?
Mar 11, 2011 10:41am
M

MontyBrunswick

Mar 11, 2011 10:49 AM
My truck has a 10000000000000 gallon tank.
Mar 11, 2011 10:49am
LJ's avatar

LJ

Senior Member

16,351 posts
Mar 11, 2011 10:51 AM
dlazz;707372 wrote:My truck has a 10000000000000 gallon tank.

I'm jealous
Mar 11, 2011 10:51am
Thunder70's avatar

Thunder70

Senior Member

748 posts
Mar 11, 2011 10:53 AM
I've heard from various refinery workers that there is actually a gasoline glut in the US and that they are running out of places to store it. I wonder how true that is...
Mar 11, 2011 10:53am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Mar 11, 2011 11:01 AM
j_crazy;707355 wrote:the price of gas is regulated more than anything in the US right now.

Jeans and hamburgers can have up to 500% mark up over manufacturing costs, and no one bats an eye. but if gas prices get to be more than 20% of production costs, it's price gouging and it's illegal, and it's policed.

My car doesn't run on denim!
Mar 11, 2011 11:01am
C

Con_Alma

Senior Member

12,198 posts
Mar 11, 2011 11:08 AM
Thunder70;707378 wrote:I've heard from various refinery workers that there is actually a gasoline glut in the US and that they are running out of places to store it. I wonder how true that is...

Yep, I read not too long ago supplies are very high right now.
Mar 11, 2011 11:08am
oberhaus's avatar

oberhaus

Senior Member

868 posts
Mar 11, 2011 11:09 AM
I spend $900 a week on Diesel. Just a few months ago it was only $700
Mar 11, 2011 11:09am
Heretic's avatar

Heretic

Son of the Sun

18,820 posts
Mar 11, 2011 11:10 AM
ernest_t_bass;707397 wrote:My car doesn't run on denim!

Guess you lose, then. Derp.
Mar 11, 2011 11:10am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Mar 11, 2011 11:12 AM
ZWICK 4 PREZ;707359 wrote:huh? I have a 35.7 gallon tank in my f150. How did you get a 27?

I dunno. Mine is an 05.
Mar 11, 2011 11:12am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Mar 11, 2011 11:12 AM
Heretic;707416 wrote:Guess you lose, then. Derp.

Play on words, hurp, derp!
Mar 11, 2011 11:12am
V

vball10set

paying it forward

24,795 posts
Mar 11, 2011 11:16 AM
gotta' recoop that money they paid out for the spill cleanup--you knew they were going to get it back one way or another
Mar 11, 2011 11:16am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Mar 11, 2011 11:23 AM
dlazz;707372 wrote:My truck has a 10000000000000 gallon tank.

Short bus gas tanks are big, but not that big.
Mar 11, 2011 11:23am
ZWICK 4 PREZ's avatar

ZWICK 4 PREZ

Senior Member

7,733 posts
Mar 11, 2011 11:25 AM
justincredible;707419 wrote:I dunno. Mine is an 05.

Mines 08 but I think from 04-08 they had a 35.7 gallon offering.. which everyone I know who has an f150 in that time span has the 35.7.
Mar 11, 2011 11:25am