dave10a
Well-known member
The petro market is based on world supply and demand. Check our import/export numbers to see how much we are affected.
Fuel $
- Thread starter SJH
- Start date
The petro market is based on world supply and demand. Check our import/export numbers to see how much we are affected.
I disagree to some extent. Speculators who drive up prices of futures based on events that in reality would have minimal effect on supply can have a significant impact on prices. The mere threat of an incident in the Straight of Hormuz sends prices skyward instantly even if no actual disruption takes place.
A refinery issue on the west coast, for example, has zero real impact on the supply of gasoline to the east coast however, within days of the refinery fire out west, our prices shot up too. None of our gas comes from there, none of their gas comes from here.
On top of all the other things, yeah, supply and demand comes in to play.
FWIW, $3.869 here for the past few weeks. Debating filling up with premium before towing this weekend...my owners manual states that use of premium will result in improved performance...for that I'll pay $4.069/gallon. (I figure it will cost me an extra $6 to try it)
ZNK
Well-known member
While supply and demand plays a large role in the prices it is not the only factor in gas prices. Unfortunately humans have control on the prices. Many times greed or the desire to profit have raised the cost of gas. It is something that most of us cannot live without, so we have to fork over the cash no matter what the price.
I hope that we can start utilizing our own supply of petroleum so that we can lower the prices. I think more people would be buying Heartlands because they could afford it with the lower cost of fuel.
dave10a
Well-known member
Fuel prices are over 120% higher today than 4 years ago. Speculators drive the prices higher and lower based on perceived future supply and demand based on world wide dynamics and expectations. Today's prices have spiked because of refinery and weather problems. The prices should drop to last months level if the production and drilling go back to those norms. The United States will not see the prices of 4 years ago until we change the outlook to the expectations of that time period-- which is easy to do if we wanted to.
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SJH
Past Washington Chapter Leaders
Since I don't have anything better to say this morning, here is my local "fuel" report 
At the 76 station diesel is now $4.65 and Regular at $4.22. This is a station I pass every morning on the way to work...usually the highest but it seems others follow suit!
At the 76 station diesel is now $4.65 and Regular at $4.22. This is a station I pass every morning on the way to work...usually the highest but it seems others follow suit!
rick_debbie_gallant
Well-known member
You want to hear BAD? How about at least 13 cents a
Liter increase here in Canada X 4 = 52 cents a gallon increase over night.
porthole
Retired
I wouldn't patronize a lukoil station anyway - but - locals in Jersey and PA are trying to make a point. Yesterday they raised their prices to 9-10 dollars a gallon.
http://www.nj.com/business/index.ssf/2012/09/lukoil_dealers_raising_pump_pr.html
http://www.nj.com/business/index.ssf/2012/09/lukoil_dealers_raising_pump_pr.html
rick_debbie_gallant
Well-known member
Not sure bout that. They get more selling else where which lowers the supply here. Demand is high here supply is now low so they can charge more. JMHO! And around we go!
pegmikef
Well-known member
I guess I got a bargain at $3.84 at Sam's here in San Angelo, TX today
dave10a
Well-known member
Well, if you look at fuel prices 4 years ago and explain those low prices, you might understand how fuel prices go down when the speculators believe crude supply will increase in either the short or long term. Domestic supply does two things, it keeps our money in the US and increases supply at a cheaper rate because it diminishes manipulation by off-shore entities. It's big foreign oil that is the problem for many reasons.
