propilot83
Posts: 618
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Rising Price Of Gasoline!

Sat Aug 08, 2009 6:29 pm

Here we go again fellows, be aware! the cost of crude oil and the price of gasoline is going up again. You know its very disappointing, there is a Mobil gas station less than 100 yards from my house, and every time I leave my house, the first thing my eye catches is the fuel price. Well its over $3 a gallon again, great were all screwed, now its time to conserve and cut back again. Every time something like this happens, when inflation goes up, mostly on gasoline, you have to cut back dramatically on travel, even if you drive a 2008 Honda Civic EX like I do. Yea my car gets about 300 miles to every full tank, but still when it comes time to fill up, it's painful. Well for me, I have to calculate and adjust my mandatory finances, how about you?
 
dxing
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 6:49 pm

It's only $2.40 a gallon here in Texas. It's fluxuated up and down all summer. We're a long way aways from last year. Until it gets near those prices lifes a breeze.
Warm winds blowing, heating blue skies, a road that goes forever, I'm going to Texas!
 
vikkyvik
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 6:51 pm



Quoting Propilot83 (Thread starter):
Every time something like this happens, when inflation goes up, mostly on gasoline, you have to cut back dramatically on travel, even if you drive a 2008 Honda Civic EX like I do.

I drive a 2002 Honda Civic EX, and I don't change my driving habits one bit with respect to fuel prices. Gas is at around $3.10 here in SoCal now.

I can drive in such a way as to maximize gas mileage if I want to....but I don't always want to. Get between 340-370 miles per tank (could actually get more, but I tend to fill up about 30 miles after the gas light comes on).

I just have less spending money. No big deal, really.
I'm watching Jeopardy. The category is worst Madonna songs. "This one from 1987 is terrible".
 
Fly2HMO
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 6:51 pm



Quoting Propilot83 (Thread starter):
how about you?

Oh boo hoo. I could care less. I think it's ridiculous some people will jump off a cliff and scream murder just because gas went up $.01. I wasn't bitching when the gas nearly hit the $5 last year and I'm not going to change my travel habits one bit.

Gas is a necessary evil. Just like food and toilet paper.
 
LAXintl
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 7:13 pm

I say we should welcome rising oil prices. It hopefully a sign that the economy is picking up.

While crude oil today is at about $71/bbl, the forward futures curve has it at $80 by next spring and $88 by years end 2010.
From the desert to the sea, to all of Southern California
 
dxing
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 7:47 pm



Quoting LAXintl (Reply 4):

I say we should welcome rising oil prices. It hopefully a sign that the economy is picking up.

???? It's actually a sign of a weaker dollar and that's not terribly good news.
Warm winds blowing, heating blue skies, a road that goes forever, I'm going to Texas!
 
AirframeAS
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 7:50 pm



Quoting LAXintl (Reply 4):
t hopefully a sign that the economy is picking up.

But not with respect to current wages at the moment.  no 

Quoting DXing (Reply 5):
It's actually a sign of a weaker dollar...

That could very well be the case.

I get my gas at Costco Wholesale, its cheaper.
A Safe Flight Begins With Quality Maintenance On The Ground.
 
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LTU932
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 7:53 pm

You want to complain? Then come to Costa Rica. Just recently, they approved to lower petrol prices by 3 colones (less than a US Cent!), while they constantly raise it by 40 to 70 colones (roughly between 8 to 12 US Cents, or around 5 to 9 Euro Cent).

Usually, they only lower prices by like 3 to 20 colones once or twice a year, while prices are raised most of the time. In the US and Europe, prices have at least a chance of being lowered more often, as oil prices sink. Yet in Costa Rica, even if oil prices sink, gas prices rise or a lowered at ridiculous rates, like the three colones price reduction I mentioned, that was recently approved by a central government agency.

[Edited 2009-08-08 12:57:00]
 
LAXintl
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 8:48 pm

A weaking dollar has many benefits including not the least being a big spur in export trade for US business.

On the whole, I would take a weak or even undervalued US Dollar anyday over a strong dollar.
From the desert to the sea, to all of Southern California
 
GuitrThree
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 9:00 pm



Quoting Propilot83 (Thread starter):
Here we go again fellows, be aware! the cost of crude oil and the price of gasoline is going up again.

Why are you complaining? I mean it was your "A++" President Obama who said just last year that he didn't mind $4 gasoline, just how fast it went up.

You would think that a President who, in your own words, deserves an "A++" rating would be able to help the working class citizens and keep gas reasonable.

But no, he continues to push his "A++" policies such as cap and trade and huge deficit spending that drive the dollar down which result in higher prices.

Care to revise your "A++" rating yet?
As Seen On FlightRadar24! Radar ==> F-KBNA5
 
dxing
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RE: Rising Price Of Gasoline!

Sat Aug 08, 2009 9:40 pm



Quoting LAXintl (Reply 8):
A weaking dollar has many benefits including not the least being a big spur in export trade for US business.

That works very well when the rest of the world isn't in a recession just like us. All it does now is raise the price of interest we have to pay on our foriegn debts.

Quoting LAXintl (Reply 8):
On the whole, I would take a weak or even undervalued US Dollar anyday over a strong dollar.

An overly strong dollar yes. But an overly weak one can be just as bad when the rest of the world is having financial troubles as well.
Warm winds blowing, heating blue skies, a road that goes forever, I'm going to Texas!
 
canoecarrier
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 12:25 am



Quoting FLY2HMO (Reply 3):
Oh boo hoo. I could care less. I think it's ridiculous some people will jump off a cliff and scream murder just because gas went up $.01. I wasn't bitching when the gas nearly hit the $5 last year and I'm not going to change my travel habits one bit.

Gas is a necessary evil. Just like food and toilet paper.

I could care less about the cost of gas as well. A couple years ago I decided to switch to commuting to work by bike or bus. It allowed me to drop my gym membership and now I buy a tank of gas ever month or two. I get a free bus pass from work, we have decent public transportation, and the savings in gas has more than paid for a high end bike.

Given my driving habits gas isn't even a necessary evil I put less than 3k miles on my car last year. But, it all depends on where you live and how easy it is to switch your lifestyle and bike to work. Seattle is much different than Atlanta.
The beatings will continue until morale improves
 
Hawaiian763
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 12:56 am

They always seem to find a really stupid excuse to raise the price of gas. Here in Alberta the excuse to raise our prices is that the refinery is broken down and they need to ship in the fuel. This happened three weeks ago the refinery is still not fixed and the price just jumped 8 cents and now they say the refinery is almost fixed. Give me a break!
 
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DocLightning
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 12:59 am



Quoting DXing (Reply 1):
It's only $2.40 a gallon here in Texas. It's fluxuated up and down all summer. We're a long way aways from last year. Until it gets near those prices lifes a breeze.



Quoting FLY2HMO (Reply 3):

Oh boo hoo. I could care less. I think it's ridiculous some people will jump off a cliff and scream murder just because gas went up $.01. I wasn't bitching when the gas nearly hit the $5 last year and I'm not going to change my travel habits one bit.

I don't change mine, either. I barely miss them. My car gets 45+MPG.
-Doc Lightning-

"The sky calls to us. If we do not destroy ourselves, we will one day venture to the stars."
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ShyFlyer
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 6:30 am

In my area, I've seen it go up about $0.20 in the last four weeks. Doesn't sound like much, but for someone who commutes many, many miles, I feel it.
I lift things up and put them down.
 
Fly2HMO
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 7:58 am



Quoting DocLightning (Reply 13):
My car gets 45+MPG.



 Wink  duck 

I get 25 MPG if I'm lucky and I still don't give a damn Big grin
 
Danfearn77
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 8:52 am

My local petrol station here in Manchester is about £4.30 per Gallon ($7.20)!!
Eagles may soar high, but weasels dont get sucked into jet engines!
 
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Moose135
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 1:46 pm



Quoting Canoecarrier (Reply 11):
I could care less about the cost of gas as well.

Except that the price of virtually everything you buy is effected by the price of gas. Groceries, clothing, day-to-day items, all cost more more when everyone along the supply chain have to pay more for fuel.

Here on Long Island, we're paying around $2.75/gal. It's fluctuated some over the summer - it started going up in May, but actually dropped a bit last month. It came up a little, but seems to have stabilized the past couple of weeks.
KC-135 - Passing gas and taking names!
 
wilco737
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 2:20 pm

I read through most of the posts and I am surprised that hardly anybody cares about the usgage of their car... I mean, sure we all need cars - more or less - and we all enjoy driving the cars, but I mean, I am being careful with the amount of fuel I put into my MD11F to reach the destination to save as much fuel as possible and as much money as possible...
I am just surprised that so less people care about that in their own car.
My car is average fuel usage. Not too high, not too low. But when I bought it, I had an eye on it. I just want that my kids still have oil for them as well and can enjoy travelling until we have new ways of producing fuel or new engines which needs different fuels...

wilco737
 
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kc135topboom
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 3:05 pm



Quoting LAXintl (Reply 4):
While crude oil today is at about $71/bbl, the forward futures curve has it at $80 by next spring and $88 by years end 2010.



Quoting GuitrThree (Reply 9):
Why are you complaining? I mean it was your "A++" President Obama who said just last year that he didn't mind $4 gasoline, just how fast it went up.

You would think that a President who, in your own words, deserves an "A++" rating would be able to help the working class citizens and keep gas reasonable.

But no, he continues to push his "A++" policies such as cap and trade and huge deficit spending that drive the dollar down which result in higher prices.

Care to revise your "A++" rating yet?

I give BHO a "F-" rating.

Quoting Hawaiian763 (Reply 12):
They always seem to find a really stupid excuse to raise the price of gas. Here in Alberta the excuse to raise our prices is that the refinery is broken down and they need to ship in the fuel. This happened three weeks ago the refinery is still not fixed and the price just jumped 8 cents and now they say the refinery is almost fixed. Give me a break!

Could that be because no new oil refineries have been built in the US since 1976, IIRC, Canada has not built a new refinery in 20+ years, either.

It is important to note that even though oil by the bbl fluxuates daily, the highest costs of gasoline in most countries is in taxes.

http://en.wikipedia.org/wiki/Oil_ref...#Oil_refining_in_the_United_States

Quoting DocLightning (Reply 13):
I don't change mine, either. I barely miss them. My car gets 45+MPG.



Quoting FLY2HMO (Reply 15):
I get 25 MPG if I'm lucky and I still don't give a damn

My Buick gets about 25 MPG, but I can strech the highway milage using the cruise control and driving at 60 MPH to 30 MPG. My F-150 gets 12 MPG, city, highway, towing, or empty truck, I don't care about the price of gasoline. Here in Fort Worth, gas is currently $2.29 per US gallon.

Quoting Danfearn77 (Reply 16):
My local petrol station here in Manchester is about £4.30 per Gallon ($7.20)!!

I assume that is an imperial gallon (about 5 US quarts, a US gallon is 4 quarts). But, most of your costs is taxes, my friend. The UK pays about the same price per BBL as the US pays.

Quoting WILCO737 (Reply 18):
I am being careful with the amount of fuel I put into my MD11F

Wow, you fuel your own jet?

 duck   duck   duck 

Sorry, I just couldn't resist. Most airlines today carry the absolute minimum amount of fuel needed, enough to fly the scheduled mission, plus requied reserves and divert fuel.
 
wilco737
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 3:40 pm



Quoting KC135TopBoom (Reply 19):
Wow, you fuel your own jet?

Yes, own my personal MD11F Big grin

Quoting KC135TopBoom (Reply 19):
Sorry, I just couldn't resist. Most airlines today carry the absolute minimum amount of fuel needed, enough to fly the scheduled mission, plus requied reserves and divert fuel.

That is true. But the crew always have the chance to take extra fuel. And a couple of years ago a ton of extra fuel was nothing and you weren't really thinking about it. Nowadays you think twice about how much and if you take extra fuel with you. Just to save fuel, reduce CO2 emissions and to reduce the costs as well.
That is what I meant.

wilco737
 
baroque
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RE: Rising Price Of Gasoline!

Sun Aug 09, 2009 3:47 pm



Quoting WILCO737 (Reply 18):
I read through most of the posts and I am surprised that hardly anybody cares about the usage of their car..

I share your surprise but I would add that what they actually say is they could care less. Which presumably puts their care level fairly high, so that they can undershoot it.

I (and your presumably) assume that they really mean they care so little that the COULD NOT CARE LESS. Then again, if they are mad enough to burn more of a scarce resource even the economists will have to give them up as a lost cause.
 
PHLBOS
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RE: Rising Price Of Gasoline!

Mon Aug 10, 2009 5:44 pm



Quoting FLY2HMO (Reply 3):
I think it's ridiculous some people will jump off a cliff and scream murder just because gas went up $.01.

A penny's not the issue; $0.14 on average in just 2-days is.

On July 31, the price at a station near me (in Secane, PA near Philly) was $2.51. The following Sunday (Aug. 2), it jumped to $2.65. This extent of the increase was farily common throughout the area. Fortunately, I was able to find a station last week that charged only $2.57; which has been the cheapest I could find in my area since the month began.

Quoting ShyFlyer (Reply 14):
In my area, I've seen it go up about $0.20 in the last four weeks. Doesn't sound like much, but for someone who commutes many, many miles, I feel it.

 checkmark 
"TransEastern! You'll feel like you've never left the ground because we treat you like dirt!" SNL Parady ad circa 1981
 
bhill
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RE: Rising Price Of Gasoline!

Mon Aug 10, 2009 10:31 pm

The only reason it's gonna go back up is that the traders manipulating the oil futures markets are going to start getting greedy again. Used to be we were told "supply and demand"..bullshit...kinda odd when consumption goes DOWN and the price of oil/gas goes UP!!. We are being screwed....Less than 1% of traders bidding in the oil futures markets actually take delivery of the oil they are bidding on...don't piss on my forehead and tell me it's raining....
Carpe Pices
 
Flighty
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 1:48 am



Quoting Bhill (Reply 23):
Used to be we were told "supply and demand"..bullshit...kinda odd when consumption goes DOWN and the price of oil/gas goes UP!!.

In the end, someone is paying $60/bbl because they want to own that oil, because they think it is worth it. Oil production is probably headed downward gradually. I would much rather have a free market for oil than the alternative. Mind you, Co2 taxes should be paid on that oil. Other than that, the market should decide who makes oil, who uses oil and what prices they should pay one another. "Speculators" should be allowed to operate so long as they are not cornering the immediate market for oil.
 
bhill
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 4:34 pm

Flighty, one can hope...but as long as firms such as Goldman Sachs is involved, there will be manipulation; granted, it's from 2007, but the mechanisims are still in place...

http://www.marketoracle.co.uk/Article2635.html

Newer:

http://www.forbes.com/forbes/2009/04...hs-semgroup-goldman-goose-oil.html


Cheers
Carpe Pices
 
bhill
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 5:58 pm

And this little jewel....

http://artvoice.com/issues/v7n40/crude

And no; I do not consider my a conspiracy theorist, but if it walks like a duck...
Carpe Pices
 
LAXintl
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 6:02 pm

Futures markets are one of the most basic foundations of our trade system, and I cant see how one could (or want to) eliminate them.
Such basic futures trading dates back far to even the Roman who used it to price commodities for next years harvest, and value goods being delivered from across the empire.

Today futures markets whether soybean, orange juice, or oil is a critical means to determining the future value of the commodity. I cant phantom how one could adequately even begin to price future contracts for such volatile commodities without a market mechanism with active competing buy and sell orders.

I certainly see no shame or certainly crime in placing a $100 value on a barrel of oil for 2010, or that matter $70/balles of Southeast cotton, $3000/tonne of cocoa etc....
From the desert to the sea, to all of Southern California
 
PPVRA
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 6:19 pm



Quoting LAXintl (Reply 27):
I certainly see no shame or certainly crime in placing a $100 value on a barrel of oil for 2010, or that matter $70/balles of Southeast cotton, $3000/tonne of cocoa etc....

And there's no guarantee the spot price will be anywhere near $100 anyways. You may make a ton of money but you also may lose a ton.

As for the volume of people trading, what can you expect when the country is running a reckless monetary/fiscal policy without any care for the dollar (for the past 10 years, might I add). Of coure people are going to move into comodities.
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
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DocLightning
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 6:26 pm

With my car, I still spend more on the bridge tolls getting to work every day than I do on the gas for it. I use a gallon of gas per work day. So nyer!
-Doc Lightning-

"The sky calls to us. If we do not destroy ourselves, we will one day venture to the stars."
-Carl Sagan
 
LAXintl
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 6:44 pm



Quoting PPVRA (Reply 28):
And there's no guarantee the spot price will be anywhere near $100 anyways. You may make a ton of money but you also may lose a ton.

Spot pricing is something totally different. But futures contract is critical for the producer to know he has X price locked in.

Otherwise it could preclude him from planting this season for instance if its a crop, or in the case of oil if the price is too low the producer might opt to not use certain wells or close and entire field.

Simply put futures contracts are the mechanism to ensure pricing stability for the seller on long lead commodity items before majority of the cost/risk in production are incurred.
From the desert to the sea, to all of Southern California
 
bhill
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 7:16 pm

All, it's not the agricultural futures market that is the issue. It was the explicit deregulation of the energy futures that is the issue..and it's criminal the manner in which it can still be manipulated...
Carpe Pices
 
LAXintl
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 7:45 pm

Energy including minerals such as coal are extremely similar to agriculture futures in their longer lead times, impact of outside forces like weather and geopolitical risk.

Its simply critical to provide a means to ensure future contract pricing stability for these as otherwise there would be much volatile risk for the producers. An arbitrary price imposed by the government for example neither benefits the buyer or the seller.

I see nothing criminal in the rise and fall in pricing as the items relative value and importance shifts in society and the economy. If someone feels smartly or dumbly that a barrel of oil will be $20 or $200 next year and is willing and able lock in such a contract price, good for them.
From the desert to the sea, to all of Southern California
 
Flighty
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RE: Rising Price Of Gasoline!

Tue Aug 11, 2009 10:42 pm



Quoting Bhill (Reply 31):
All, it's not the agricultural futures market that is the issue

And why not? Do we agree it works pretty well? Of course it is very chaotic... but customers are not as fascinated by soybean prices. The public believes they have something to say about the oil market... which I find usually uninformed and ridiculous.

If someone wants to bid $125 for oil in 2011, who should stop them? Why stop them, on what grounds? I am not seeing it. To corner the oil market would take ungodly amounts of money and put oneself at great risk.

No-one has invented a good system for getting rid of speculative bubbles, much less worldwide ones. I would also point out that the oil market did not suffer financial chaos. Contracts were honored. Fair auctions were held for the oil and everyone in the world got their shot. To outlaw this would require an international governing body including all players: oil exporters, China, USA, India... which is impossible. And, not necessary.

Quoting LAXintl (Reply 32):
If someone feels smartly or dumbly that a barrel of oil will be $20 or $200 next year and is willing and able lock in such a contract price, good for them.

 checkmark 
 
LFutia
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RE: Rising Price Of Gasoline!

Wed Aug 12, 2009 4:59 am

Gas prices just went down to $2,77 from $2,79! ahh back in the days of January 2009 when gas was $1,36...

Leo
Leo/ORD -- Groetjes uit de VS! -- Heeft u laatst nog met KLM gevlogen?
 
baroque
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RE: Rising Price Of Gasoline!

Wed Aug 12, 2009 5:56 am



Quoting Bhill (Reply 26):
And this little jewel....

http://artvoice.com/issues/v7n40/crude

And no; I do not consider my a conspiracy theorist, but if it walks like a duck...

Interesting but complex and it does not seem to address what proportion of price rises and falls can be attributed to speculation.
 
danvs
Posts: 179
Joined: Sat Jul 04, 2009 3:34 am

RE: Rising Price Of Gasoline!

Thu Aug 13, 2009 1:30 am

I'm shocked to see how expensive my country is.
Americans complain for paying 3 USD for a gallon.
If you guys were living here, earning and spending money in our currency, 1 gallon of gasoline would cost you the equivalent of up to 10 USD!!!
I'm happy to drive "flex" cars (here in Brazil the vast majority of cars can run with either gasoline or ethanol, and GM/Ford/Volkswagen/Fiat/Renault/Honda and other manufacturers' cars are all made flex from the Brazilian factories).
By putting ethanol instead of gasoline, not only I pollute less but also I spend around half per liter. It's true that the consumption of ethanol is higher, but in the end I still save money by choosing ethanol.
 
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DocLightning
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RE: Rising Price Of Gasoline!

Thu Aug 13, 2009 1:32 am



Quoting FLY2HMO (Reply 15):

I get 25 MPG if I'm lucky and I still don't give a damn Big grin

I'll buy you drinks with the excess money I have from my gas savings.
-Doc Lightning-

"The sky calls to us. If we do not destroy ourselves, we will one day venture to the stars."
-Carl Sagan

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