Have you SEEN THE GAS PRICES??? - Page 3

Zink Whistlefly · 09-01-2005, 02:39 AM

Quote:

Originally posted by Timber Loftis:

quote:
Originally posted by Zink Whistlefly:
Ah well you US peeps still have it easy - us poor UK suckers currently pay £0.90 per litre = £4.05 per gallon = $7.30!!!!

Your math is a little off since 1 gal. = 3.7 litres. But, point taken. [/QUOTE]Ah - I was using an imperial gallon which is about 4.5 litres.

Megabot · 09-01-2005, 08:52 AM

2$ for 1 litre here..;(

Cloudbringer · 09-01-2005, 09:22 AM

Just went up about .50 overnight to $3.20 a gallon for regular here.

Timber Loftis · 09-01-2005, 09:40 AM

Why the hell does a 7% closing of refineries result in a 20-30% price hike? Gouging, that's all it is. The same as when NEXT year's coffee crops get washed out and prices go up THE NEXT DAY. A play on emotions, nothing more.

Hey, let's all try this. Don't buy Exxon/Mobile. AT ALL. No one buys it. Then Exxon/Mobile will lower prices, and so will the others to compete.

How about that idea?

mad=dog · 09-01-2005, 01:27 PM

We recently had a "petrol price war" here. There is some silent agreement between station managers and even companies within an area. Simply to preserve a profit. But emerging small oil/petrol companies were posing a threat to the big ones and they initiated a full blown price depression war. All the others followed soon after and the prices went down rapidly. Sounds good? Only problem is that after a brief spell of dreamlike cheap petrol the prices went up again. Rapidly. And they landed higher than they were before. Why?
I am not sure how it works in the US, but over here stations are run through a franchise. The manager essentially owns the place - the big oil billionares just supply the petrol and runs advertisement. In a price war he will take a tremendous loss and cannot pay out any mortgage. In short the interest rate on his loans shoots up. This means that after the price war he must charge MORE to cover his costs and make a sustainable profit.
Needless to say the guy on the floor gets hurt more than the wealthy people behind. Furthermore many retirement funds and insurance companies have oil stock in their portfolio as it a relatively secure investment - everybody needs oil. Lower stock prices could mean less money for the golden years.
I am not saying that oppotunism has not taken the better of some in this matter. However I must insist that the price you see now should not be confused with the price of the product in the tanks - it is the price they must pay to replenish the depot/reserve.
7% sounds rediculously low. But remember that a production that only covers 93% of the demand must raise the price to correspond to that. In other words they must make it so expensive that people buy 7% less fuel. The panic element aggravates it even more. People stockpiling will simply incur an even higher price elevation in an attempt to decrease demand.

News are that Venezuela - a nearby major oil producer - has plegded to fill any gap if the situation cannot be stabilised. Briefly put they crap on OPEC agreements and promise to pour oil into US pipes if it is needed for a period. Even if it may not be needed (which is likely) this is a valuable "scare tactic" card the government can play out - if domestic oil producers cannot control supply and keeps elevating the price a foreign oil producer can go in and sweep up. There IS price gouging for sure - something like this can stop it. Say what you may, but Exxon does NOT like the idea of profit going in another direction.

Larry_OHF · 09-01-2005, 02:45 PM

Quote:

Originally posted by Cloudbringer:
Just went up about .50 overnight to $3.20 a gallon for regular here.

$3.29 is the regular price here as of this morning, though I have heard of places that were trying to get more...but they didn't last long and were forced to drop back down to the $3.29 like everyone else.

Some places in the area have actually run out of gas because nobody has brought them any more.

In Greensboro (next city over), there's a huge tank field to accomodate our own needs at such a time as this, but something about broken electrical pumps and no way to fix them yet has got us all moaning.

[ 09-01-2005, 02:46 PM: Message edited by: Larry_OHF ]

NewbietoRPGs · 09-01-2005, 02:47 PM

A friend of mine lives in Charlotte, NC. Almost completely out of gas there and the prices are at about $5.00 per gallon. But he did say that people are panicking for nothing because it should be back to almost normal by Saturday.

Larry_OHF · 09-01-2005, 02:51 PM

Yeah...that is exactly what is going on. So many people were buying gas last night, that they caused the shortage in the area!

NewbietoRPGs · 09-01-2005, 02:56 PM

Yep, he said that he waited an hour in line to get gas and when it was his turn they had run out. They went back out at like 10pm last night and all of the stations were closed up tight because they were empty. He's in sales and was supposed to drive up to Raleigh today. No such luck.

[ 09-01-2005, 02:59 PM: Message edited by: NewbietoRPGs ]

Gangrell · 09-01-2005, 04:23 PM

Out of curiosity, anyone here seen that FX movie called Oil Storm?

Crappy coincidence I must say.

09-01-2005, 09:22 AM	#23
Cloudbringer Ironworks Moderator Join Date: March 1, 2001 Location: Upstate NY USA Posts: 19,737	Just went up about .50 overnight to $3.20 a gallon for regular here. __________________ "Don't take life for granted." Animal (may he rest in peace)

09-01-2005, 09:40 AM	#24
Timber Loftis 40th Level Warrior Join Date: July 11, 2002 Location: Chicago, IL Posts: 11,916	Why the hell does a 7% closing of refineries result in a 20-30% price hike? Gouging, that's all it is. The same as when NEXT year's coffee crops get washed out and prices go up THE NEXT DAY. A play on emotions, nothing more. Hey, let's all try this. Don't buy Exxon/Mobile. AT ALL. No one buys it. Then Exxon/Mobile will lower prices, and so will the others to compete. How about that idea? __________________

09-01-2005, 01:27 PM	#25
mad=dog Avatar Join Date: April 18, 2004 Location: Copenhagen Age: 48 Posts: 549	We recently had a "petrol price war" here. There is some silent agreement between station managers and even companies within an area. Simply to preserve a profit. But emerging small oil/petrol companies were posing a threat to the big ones and they initiated a full blown price depression war. All the others followed soon after and the prices went down rapidly. Sounds good? Only problem is that after a brief spell of dreamlike cheap petrol the prices went up again. Rapidly. And they landed higher than they were before. Why? I am not sure how it works in the US, but over here stations are run through a franchise. The manager essentially owns the place - the big oil billionares just supply the petrol and runs advertisement. In a price war he will take a tremendous loss and cannot pay out any mortgage. In short the interest rate on his loans shoots up. This means that after the price war he must charge MORE to cover his costs and make a sustainable profit. Needless to say the guy on the floor gets hurt more than the wealthy people behind. Furthermore many retirement funds and insurance companies have oil stock in their portfolio as it a relatively secure investment - everybody needs oil. Lower stock prices could mean less money for the golden years. I am not saying that oppotunism has not taken the better of some in this matter. However I must insist that the price you see now should not be confused with the price of the product in the tanks - it is the price they must pay to replenish the depot/reserve. 7% sounds rediculously low. But remember that a production that only covers 93% of the demand must raise the price to correspond to that. In other words they must make it so expensive that people buy 7% less fuel. The panic element aggravates it even more. People stockpiling will simply incur an even higher price elevation in an attempt to decrease demand. News are that Venezuela - a nearby major oil producer - has plegded to fill any gap if the situation cannot be stabilised. Briefly put they crap on OPEC agreements and promise to pour oil into US pipes if it is needed for a period. Even if it may not be needed (which is likely) this is a valuable "scare tactic" card the government can play out - if domestic oil producers cannot control supply and keeps elevating the price a foreign oil producer can go in and sweep up. There IS price gouging for sure - something like this can stop it. Say what you may, but Exxon does NOT like the idea of profit going in another direction. __________________ [url]\"http://www.dsr.kvl.dk/~maddog/isur.jpg\" target=\"_blank\">Ooooookay. I surrender.</a><br />Sometimes I get the eerie feeling that my computer is operating me and not the other way around.

09-01-2005, 02:51 PM	#28
Larry_OHF Ironworks Moderator Join Date: March 1, 2001 Location: Midlands, South Carolina Age: 48 Posts: 14,759	Yeah...that is exactly what is going on. So many people were buying gas last night, that they caused the shortage in the area! __________________

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09-01-2005, 08:52 AM	#22
Megabot Ma'at - Goddess of Truth & Justice Join Date: October 18, 2003 Location: Oslo, Norway. Age: 61 Posts: 3,360	2$ for 1 litre here..;(

09-01-2005, 02:47 PM	#27
NewbietoRPGs Drow Warrior Join Date: January 3, 2003 Location: Connecticut Age: 50 Posts: 264	A friend of mine lives in Charlotte, NC. Almost completely out of gas there and the prices are at about $5.00 per gallon. But he did say that people are panicking for nothing because it should be back to almost normal by Saturday.

09-01-2005, 02:56 PM	#29
NewbietoRPGs Drow Warrior Join Date: January 3, 2003 Location: Connecticut Age: 50 Posts: 264	Yep, he said that he waited an hour in line to get gas and when it was his turn they had run out. They went back out at like 10pm last night and all of the stations were closed up tight because they were empty. He's in sales and was supposed to drive up to Raleigh today. No such luck. [ 09-01-2005, 02:59 PM: Message edited by: NewbietoRPGs ]

09-01-2005, 04:23 PM	#30
Gangrell Iron Throne Cult Join Date: January 2, 2003 Location: Big Castle in the Sky Age: 36 Posts: 4,835	Out of curiosity, anyone here seen that FX movie called Oil Storm? Crappy coincidence I must say.

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