What the Heck Is Going On With Gas Prices Again?

I don't know what's happening in your area, but gas prices here in SoCal have headed for the roof again....and yet the price of a barrel of oil DROPS!! I was going to write about this last week, but got sidetracked. Even though the prices have started to come back down again, two weeks ago we had a real spike in prices. A gallon of Arco regular hit 4.499 a gallon, and for no apparent reason.

When I was in Vegas, I was surprised to see the price of gas at under 4.00$ a gallon. I guess the oil companies in SoCal feel that the prices are going to fall, so they might as well gouge us as much as possible before the bottom falls out and we go under $4 a gallon also.

Today I paid $4.299 a gallon even though I knew there were prices a lot lower, but I was running on fumes and had no choice but to get some gas. At least I didn't fill up! Sure enough, on my way home, I passed another Arco that was 10c a gallon cheaper. I guess they feel if they jack up the prices now, and lower them just before Memorial Day, we'll feel like we're getting a bargain.

I just feel that Congress will never help us with these high prices even though it's quite obvious that the oil companies fix prices and should be subject to anti trust laws. What was Congress thinking when they let all these oil companies merge...that we were going to get lower prices? Yeah right!
Yesterday crude dropped below $90 a barrel.My local station went from 3.68 to 3.89 yesterday.This morning back down to 3.59.Like being on a goddam merry go round.
Quote

Originally posted by: BAGIANT
I don't know what's happening in your area, but gas prices here in SoCal have headed for the roof again....and yet the price of a barrel of oil DROPS!! I was going to write about this last week, but got sidetracked. Even though the prices have started to come back down again, two weeks ago we had a real spike in prices. A gallon of Arco regular hit 4.499 a gallon, and for no apparent reason.

When I was in Vegas, I was surprised to see the price of gas at under 4.00$ a gallon. I guess the oil companies in SoCal feel that the prices are going to fall, so they might as well gouge us as much as possible before the bottom falls out and we go under $4 a gallon also.

Today I paid $4.299 a gallon even though I knew there were prices a lot lower, but I was running on fumes and had no choice but to get some gas. At least I didn't fill up! Sure enough, on my way home, I passed another Arco that was 10c a gallon cheaper. I guess they feel if they jack up the prices now, and lower them just before Memorial Day, we'll feel like we're getting a bargain.

I just feel that Congress will never help us with these high prices even though it's quite obvious that the oil companies fix prices and should be subject to anti trust laws. What was Congress thinking when they let all these oil companies merge...that we were going to get lower prices? Yeah right!




They were thinking.........lots of fat campaign contributions, bribes, junkets, etc.!

My understanding is the price at the pump is based on the price of the oil when it was bought. That wouldn't have anything to do with current crude prices.

Quote

Originally posted by: arcimedes
My understanding is the price at the pump is based on the price of the oil when it was bought. That wouldn't have anything to do with current crude prices.


That seems to be half correct. If crude goes down, the price of gas at the pump stays steady as it's based on the price of the oil when it was bought. If crude goes up, the price of gas goes up as it's based on the current commodity price.
It's still a rip off no matter how you look at it!
Quote

Originally posted by: BAGIANT
It's still a rip off no matter how you look at it!


Good thing you don't live in Europe where prices are more like $7-10 a gallon. However, much of that is taxes so not all the money is going to oil companies.

US Crude Oil supplies are at a 20 year high. The price of gas is bound to come down....maybe way down....as long as that Iran Nuke poster's warnings don't come to pass.

California is doing the summer shift to different blends...that's always a good excuse for higher prices...temporary higher prices.
We're having a gas war here in St. Louis. The station by the house is down to $3.29 a gallon. Others near by are in the $3.30's. Outside that area are in the mid $3.40's.

Ray
Come on guys, do you really need a Canadian to explain this shit for you?

California uses "environmentally friendly" gas blends used almost nowhere else. The few refineries that make the crap keep having problems/breaking down. Less supply = higher prices. They also convert to summer blends in February, which is also earlier than most anywhere else. That's why there's always a spike then, while most of the country is still freezing their asses off.
Already a LVA subscriber?
To continue reading, choose an option below:
Diamond Membership
$3 per month
Unlimited access to LVA website
Exclusive subscriber-only content
Limited Member Rewards Online
Join Now
or
Platinum Membership
$50 per year
Unlimited access to LVA website
Exclusive subscriber-only content
Exclusive Member Rewards Book
Join Now