Springville stations are up 12-14 cents since last week. They were the lowest around before.
Oil $38.12 -2.71
:bigclap:
Oil $36.20 -1.58
Great story right here about oil inflation and deregulation of the markets.
Great read. And for all you people incapable of reading anything longer than a paragraph, at least read this…
“From quarter four of '07 until the second quarter of '08 the EIA, the Energy Information Administration, said that supply went up, worldwide supply went up. And worldwide demand went down. So you have supply going up and demand going down, which generally means the price is going down,” Masters told Kroft.
“And this was the period of the spike,” Kroft noted.
“This was the period of the spike,” Masters agreed. “So you had the largest price increase in history during a time when actual demand was going down and actual supply was going up during the same period. However, the only thing that makes sense that lifted the price was investor demand.”
So please STFU when telling me we don’t need to limit speculation in the oil market.
“From July 15th until the end of November, roughly $70 billion came out of commodities futures from these index funds,” Masters explained. “In fact, gasoline demand went down by roughly five percent over that same period of time. Yet the price of crude oil dropped more than $100 a barrel. It dropped 75 percent.”
HA! I brought up the same exact point 3 pages ago in this thread.
Oil $34.50 -1.44 and yet the price at the pump continues to go up.
it’s gasoline. Refiners aren’t using nearly as much capacity as they have.
dumb shit dot com
If you want to hedge yourself against gas prices going up, buy this.
http://www.google.com/finance?q=NYSE%3AUGA
Heh. We just put a plant in here:
The job losses result from the refinery’s inability to secure an adequate supply of crude oil after its parent company, Flying J Inc., filed for Chapter 11 bankruptcy protection Dec. 22.
Flying J announced last month that it was closing the plant indefinitely, even as it continues to work on other options including a sale of Big West.
http://www.bakersfield.com/102/story/688924.html
Perfect customer. Take or pay contracts so we get paid for doing nothing. :tup:
Didn’t flyingJ just buy that refinery not that long ago? I remember they made a big stink when the original owner wanted to close it because it’s pretty much all Cali has in terms of refinery capacity. I still heart their prices at the darien lake station though.
2.05 ftl
wont be long till the pump price spikes because of the switch to “summer blend gas”
Those will at least be temporary though. Like I said, what we’re seeing now is a combination of refineries idling capacity, and the consequences of contango in the oil market. Every available tanker is full to the brink with oil that could be sold now, but will command a higher price in the futures market. Oil is dirt cheap right now, but the supply of immediately available oil is not as high as it should be with demand this low.
I thought it was the other way around…they change the blend in winter…which makes it more expensive.
summer prices go up due to demand, not “summer blen” vs “winter blend”
44.92 +2.42
Not true. There is a definite spike in gas prices during the switchover from one blend to the other because it affects supply. Also, the summer blend is more expensive to produce.
:bigclap: i was too lazy to search for that.
^ I’ve actually read much more detailed and critical arguments about the cost all these stupid blends cause but finding anything about gas prices on google is difficult because of all the gas price crying sites/articles. Basically we need a federal standard so that each state isn’t allowed to mandate their own stupid blend. Maybe allow for a few different gradients based on climate.