Gas prices

[Spexxvet]

Just got gas in New jersey for 2.47.9/gallon

[Elspode]

$2.45 9/10 here in the KC Metro.

[sproglet]

Here's some perspective for you.

In the UK a couple of weeks ago unleaded hit an all time high of just over £1 / litre = £3.79 / Gall(US) = $6.82 / Gall (US)

This last week, thanks to the US driving season drawing to a close, the price dropped to £0.93 / litre (whoopee do)

Diesel is around 2 to 3% more due to higher environmental taxation.

The UK government has introduced heavier road tax for less fuel efficient cars and tax breaks for low emission vehicles. There is increasing pressure to lean on them even harder as pollution and road congestion just ain't funny anymore. Things are really going to start biting soon.

[headsplice]

Oy! That's pretty damn pricey. I just filled up yesterday for US$2.35! Woooo! MSP is in the hizzle!

[Elspode]

I for one find it highly improbable that Americans are driving that much less to be able to explain such a precipitous drop in prices in such a short time. $2.29/gal here in KC Metro today, or a drop of 66 cents in about two weeks.

The only way it could have dropped that much, that quickly, is if it was artificially high in the first place, IMHO. I think this is doubly supported by the even more amazing UK price drop cited here. Rogues. Scum. Thieves. Robber Barons.

[glatt]

Originally Posted by Elspode

I for one find it highly improbable that Americans are driving that much less to be able to explain such a precipitous drop in prices in such a short time. $2.29/gal here in KC Metro today, or a drop of 66 cents in about two weeks.

The only way it could have dropped that much, that quickly, is if it was artificially high in the first place, IMHO. I think this is doubly supported by the even more amazing UK price drop cited here. Rogues. Scum. Thieves. Robber Barons.

Theres data out there to tell us if it's true or not. We just need to hack into Jiffy Lube's computers and extract the mileage data.

[xoxoxoBruce]

Originally Posted by Elspode

I for one find it highly improbable that Americans are driving that much less to be able to explain such a precipitous drop in prices in such a short time. $2.29/gal here in KC Metro today, or a drop of 66 cents in about two weeks.

The only way it could have dropped that much, that quickly, is if it was artificially high in the first place, IMHO. I think this is doubly supported by the even more amazing UK price drop cited here. Rogues. Scum. Thieves. Robber Barons.

Can you say, there's an election in six weeks or so?

[romuh doog]

I had a wild thought about this and could be way out there regarding the recent oil discovery in the Gulf of Mexico.

Who is to say that the recent gas prices falling don't have something to do with needing the cost of a barrel of oil to be the lowest in years so that Chevron pays NO monies to big government due to a contractual loophole?

We (USA) benefits anywhere from 30 cents to a dollar less a gallon so that big company benefits billions while crude oil is being pumped out of the Gulf?

It's head chowder, but a good recipe.

[tw]

Originally Posted by Elspode

I for one find it highly improbable that Americans are driving that much less to be able to explain such a precipitous drop in prices in such a short time.

In a world where even Nigeria and Venezuela are on the verge of terminating oil exports, what would a small oil dealer (representative of something like 75% of America's oil industry) do? Less widely reported are small American oil dealers scrambling to find oil storage tanks capacity where ever storage could be found. They have long term contracts to protect. Hoarding - which you should be saying thank you for protecting your interests - has been widespread across the entire American oil industry. Even residential oil tanks were kept as topped as oil dealers could just to find more storage for oil.

Well, no hurricane struck the Gulf. Situation in Nigeria softened. Venezuela apparently will not stop shipping oil. Mexico's presidential election situation appears to have settled. Oil from Alaska is still flowing after quite a scare. Saudis have maintained capacity that no one was sure was possible. Kuwait has not been dragged into what looked like a mess this year. Oil pipeline from the Caspian Sea is now functioning. Libyan oil has come online this past year - is especially found in Italy. Russians are not using oil like they once were to manipulate Europe. Gulf pipelines are finally pumping enough oil and natural gas to meet consumption demands. Second half of summer was not as hot as the first half. Summer driving season ended. Fall is a time of least oil consumption. These are only some events I know of from well published sources. And so it goes. Suddenly small oil dealers no longer need maintain all this oil. Prices drop accordingly.

You knew of these so many events when oil barons were rigging the market? This summer was a scary time for the entire oil and natural gas industry.

[Elspode]

Originally Posted by tw

Well, no hurricane struck the Gulf. Situation in Nigeria softened. Venezuela apparently will not stop shipping oil. Mexico's presidential election situation appears to have settled. Oil from Alaska is still flowing after quite a scare. Saudis have maintained capacity that no one was sure was possible. Kuwait has not been dragged into what looked like a mess this year. Oil pipeline from the Caspian Sea is now functioning. Libyan oil has come online this past year - is especially found in Italy. Russians are not using oil like they once were to manipulate Europe. Gulf pipelines are finally pumping enough oil and natural gas to meet consumption demands. Second half of summer was not as hot as the first half. Summer driving season ended. Fall is a time of least oil consumption. These are only some events I know of from well published sources. And so it goes. Suddenly small oil dealers no longer need maintain all this oil. Prices drop accordingly.

That is a dizzying array of market influences. The only thing dizzier than that array is the again *extremely unlikely* confluence of relief of all those possibilities occuring *at the same fucking time*. Examining these market influences, kindly tell me any one of them that was anything but speculation and/or bullshit now that the "danger" has come and gone?

The only thing that changed, apparently, was how much of our money was going into the pockets of people smart enough to produce some bullshit "market forces" that never eventuated.

[tw]

Originally Posted by Elspode

That is a dizzying array of market influences. The only thing dizzier than that array is the again *extremely unlikely* confluence of relief of all those possibilities occuring *at the same fucking time*.

Event need not occur at the same time. Just the fact that so many possiblities exist is why something completely different then happened. That only some events were possible is why oil dealers were massive hoarding oil this summer. You don't care whether those events could happen. You saw only what did happen. Oil dealers were massively seeking oil storage depots, oil future contracts, etc because the market was so unstable; because they have long term contracts that they must meet. Those many threats were enough to only raise oil prices slightly. Did prices rise from $2 per gallon to over $4 per gallon? No. IOW the price rises were rather mild.

Don't forget history. When oil shipments from some sources were interrupted, then gasoline rose to $7 per gallon.

Now that dealers don't need reserves, prices have dropped from $3 per to $2.50 per gallon. Of course. Simple market economics.

Meanwhile, did you notice how market problems kept fruit and vegatable prices so high this summer? Why not? Again, market forces caused, for example, blueberries last year at $2 a box to sell for $2.50, $3 and at one point $4 per box. Clearly blueberry farmers are also greedy bastards? Welcome to the free market. Of course, you know why fruit and vegatable prices were so high? Those reasons have been widely reported by every responsible new service.

[Elspode]

I don't have to buy blueberries twice a week to get back and forth to my job. Have I noticed increases in other commodities? Yes. I work in construction. Prices of some raw materials have gone up 40% in eighteen months.

Let's wait and see who gets elected and what new "market forces" will rear their ugly heads thereafter. Should be interesting.

[tw]

Originally Posted by Elspode

I don't have to buy blueberries twice a week to get back and forth to my job. Have I noticed increases in other commodities? Yes. I work in construction. Prices of some raw materials have gone up 40% in eighteen months.

What else has seen a massive price increase? Wood? I thought that price was supposed to have decreased. Where are the big price increases in construction this summer - and how much? (I suspect busterb could cite reasons why roofing material prices are higher.)

[wolf]

Originally Posted by Ibram

Nurse Ratched could fix Bin Laden right fine.

I got the bed and the meds, just as soon as someone is able to confirm whereabouts within my county.

[wolf]

I paid $2.69/gal reg. unleaded yesterday. There are stations that are cheaper, but this is the one that's more convenient on the way to visit momWolf/work.

I did remember to check the full serve prices ... it was 20 cents more per gallon to have the kid pump the gas and smear your windshield (if you ask nicely).