Gas Up BIG Today!

Last night at midnight TV news reported that gas prices were going to jump 13 cents. I haven't checked if they will jump again tonight.

I thought about hitting the stations before midnight last night but it's not worth the $4 I'd wouldn't have saved..

Price rise due to Hurricane Ike effects on the refineries being closed.


Correct. Little effect on crude, but since refining capacity is so tight, Ike has to have a negative effect on refined prices.

Originally posted by reluctantpawn
It is funny how the price of oil is dropping, but the price of fuel either stays the same or even continues to rise. But we all know it is not a conspiracy and the oil companies are just trying to recover their cost.

respectfully

reluctantpawn

The price is rising because people are rushing the pumps. Think of it this way, if you sold peanuts, and had pretty good business, but suddenly people were lined out your door at all hours to get peanuts, wouldn't you raise the price?

The crude oil situation in terms of availability and price is better now than it has been in years, the only thing driving the prices up are people rushing the pumps.

It's disgusting.

Originally posted by reluctantpawn
It is funny how the price of oil is dropping, but the price of fuel either stays the same or even continues to rise. But we all know it is not a conspiracy and the oil companies are just trying to recover their cost.

respectfully

reluctantpawn

Crude oil cost is not gasoline cost.
You have to take that crude oil and put it through REFINERIES to create gasoline. there is a lot less consumption of oil lately because of the slumping economy that's why those prices are down. Although if you can't produce gasoline from all the stockpiles of oil you have then gas prices will naturally go up. It's the gas stations protecting themselves from higher prices in the near future.

Well i have not read most of the forum so i apologize if i am intruding on any conversations.

Las Vegas prices are at around $3.50 give or take a few. It'll hit $3.65 tops. I have no clue why it's like that seeing that some parts are getting $5.30. I will assume the Hurricane's are taking a toll. I'm not too surprised about the price hike

Memphis was just under $4 today (a big jump for us). And most places near me are sold out right now. I expect to see a big spike by Monday as the stations refuel for the work week.

One of the readio station DJs was telling everyone not to worry, that there was enough gas for everyone. And this was right as I was driving past stations already empty. So much for that idea.

The problem is with our current administration, they have no gumption to hold back on their greed and STOP thet rediculous price gouging. Continued greesing of the Chinese contracts for goods and services. This will hit the trucking companies and that is going to affect us at the market and the gas stations.

$3.55 a gallon in my neck of the woods tonight after work. Friend came into work and told me that Farmington,Mo was at $5.50 a gallon.
The lady at BP when I filled up after work said that it was almost $6.00 in Cape Girardeau. Whether this is true or not I can't say. And I'm not about to drive to either to find out. I can say that more than one person has said this.

When I find out for sure I'll post back. True or untrue.