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| Gas prices still high | |
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| Tweet Topic Started: Feb 16 2009, 11:57 AM (898 Views) | |
| Johnny Mullet | Feb 16 2009, 11:57 AM Post #1 |
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Fear the Mullet
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MORE |
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| metromad | Feb 16 2009, 12:14 PM Post #2 |
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A truer verse was never spoken:
We are at the mercy of the big fat cats of oil and they will do whatever it takes to keep lining their pockets. Its why I remain committed to keeping my Metro on the road. They're going to get as little of my hard earned money as I can manage to keep from them!
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| jeff | Feb 16 2009, 03:47 PM Post #3 |
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Could make some upset. Makes our Geo's more purdy. @*^%$#!%^#^ Big money!!!! |
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| Johnny Mullet | Feb 16 2009, 04:02 PM Post #4 |
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Fear the Mullet
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The previous fuel crisis had no effect on me since I got my Metro. Even when it broke down, I still saved money by repairing it than driving my truck. |
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| 96Geoman | Feb 16 2009, 11:55 PM Post #5 |
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U.S. refineries are producing less which causes the wholesale price of gas to go up... Why is the price of gas increasing? We look for an explanation By JoAnn Merrigan Published: February 16, 2009 Here’s a question most of us can relate to - why is the price of gas going up when most of us are driving less and the price of crude oil is about $37a barrel? There might be a number of possible explanations. But Tom Kloza from the Oil Price Information Service says there’s mainly just one, U.S. refineries are producing less. “In early December, they were running about 15.4 million barrels a day,“ he tells me. “The most recent data we have is from last week and they were producing 14.4 million a day. So, it’s one million fewer barrels every day now.“ Kloza is the chief oil analyst at the organization, which he says follows retail and wholesale price trends and is “independent” of the industry. He says basically, the industry was in a lot of trouble at the end of 2008. “They found themselves like a lot of other businesses, i.e. producing more product than consumers were buying,“ He says right now, most U.S. refineries are running at about 81 percent of capacity. For you and me, it means paying more at the pump, even though the economy has forced many Americans to cut back on their trips. “One consistent aspect of all of this is that prices have gone up because supplies are being cut, not because demand is increasing,“ Kloza says. He says nationwide, gas was priced at about $1.61 a gallon at the end of December. “Since the first of the year, it’s inched back up as much as five cents per week in some places,“ Kloza says. Although Monday was a holiday, Kloza says electronic commodities trading was still taking place. When we talked Monday afternoon, he says the price of a barrel of crude oil was $36.72 cents. Still, Kloza told me that it’s important to pass on that most refineries don’t pay the cheap price. He says what we often see is the WTI (West Texas Intermediate Price). “Everybody quotes that, but only a couple of select refineries would get to buy at that price,“ he says. He does acknowledge that prices probably won’t be going back down. “my sense is that you’ll see prices slowly inch up through the second quarter. But I don’t see 3 or 4 dollar gas this year, not with the way the economy is going. I think the highest it may go is about $2.50 a gallon.“ http://www.wsav.com/sav/news/local/article/why_is_the_price_of_gas_increasing_we_look_for_an_explanation/9629/ |
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| 2000Firefly1.3L | Feb 17 2009, 12:36 AM Post #6 |
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so there you go, you have a monopoly on a commodity create an artificial reduction of the supply and you have an excuse to ratchet up the selling price to increase profit. |
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| Big Dave | Feb 23 2009, 10:57 PM Post #7 |
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Fresh Fish
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Here in northern Minnesota (near Duluth) our gas prices are about $1.70 + - depending on the franchise. I just got my Metro back on the road after a long battle no power. (bad rings). I have as my primary ride a 2003 Dodge Ram 2500 4x4 with a Hemi. Its not bad for the size horse trailer I pull in the summer.......However it's not summer here yet. I get about 10 to 12 mpg in the winter......OUCH i know, Thats why the metro is back on the road. I would think that auto manufactures would start building the metro's again. |
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| 97GeoMetro | Feb 24 2009, 12:16 AM Post #8 |
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New Member
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gas is about 1.65 around here........it was down to like 1.40 something a few months ago....that was the lowest I had seen it since the late 90's. |
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