Welcome Guest [Log In] [Register]
Posted ImageWelcome to the all new Geo Metro Forum. We hope you enjoy your visit.

You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are features you can't use and images you can't see. Registration is simple, fast, and completely free. If you're already a member please log in to your account to access all of our features:

Join our community!




Username:   Password:
Add Reply
Gas prices still high
Topic Started: Feb 16 2009, 11:57 AM (898 Views)
Johnny Mullet
Member Avatar
Fear the Mullet

Quote:
 
Crude oil is selling for the low price of under $35 a barrel. The precious black commodity is awash at storage tanks across the country. And drivers from New York to the Bay Area are motoring less and less as the economy continues to sink.

But the price of gas is going up and up and up — to $2.29 a gallon in California on Saturday, 25 cents higher than a month ago and 49 cents more than before Christmas.

What gives?


MORE
Offline Profile Quote Post Goto Top
 
metromad


A truer verse was never spoken:

Quote:
 
Added motorist Roland Beech:

"They can call it scheduled maintenance, but that's not the truth. Let's face it, they are just cutting back to keep prices higher."



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! :thumb
Offline Profile Quote Post Goto Top
 
jeff


Could make some upset. Makes our Geo's more purdy. @*^%$#!%^#^ Big money!!!!
Offline Profile Quote Post Goto Top
 
Johnny Mullet
Member Avatar
Fear the Mullet

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.
Offline Profile Quote Post Goto Top
 
96Geoman


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/

Offline Profile Quote Post Goto Top
 
2000Firefly1.3L
Member Avatar


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.
Offline Profile Quote Post Goto Top
 
Big Dave
Fresh Fish
[ * ]
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.
Offline Profile Quote Post Goto Top
 
97GeoMetro
New Member
[ *  * ]
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.
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · The Geo Metro Lounge · Next Topic »
Add Reply