Anyone capable of discussing gas without politics? Anyone?

[NFBuck]

Not soon enough, given that by "at his gas station" you mean the owner.

I meant his place of employment.

 

[OSU_Buckguy]

Has our demand and usage tripled?

demand doesn't have to triple for the price to triple. demand just has to be at a level that allows for the price to triple without harming profit. obviously, it is and will continue to be until, for one, americans curb their usage.

 

[gregorylee]

I meant his place of employment.

Would it matter, I mean come on. If he works at a gas station, he probably can't afford to fill up his car and you would be doing him a favor by allowing him to collect on workers comp/disability....


Part of the reason is that China and India have really jumped into the market, the other part has to do with blood sucking nocturnal oil company executives. This does not make it right.

 

[NFBuck]

Would it matter, I mean come on. If he works at a gas station, he probably can't afford to fill up his car and you would be doing him a favor by allowing him to collect on workers comp/disability....

You have a pretty good point there....

 

[buckeyefool]

The worst part of it is that barrel prices went down over a doller today, yet the pumps are shooting up. How long before people are just going to give in and stop traveling to see loved ones, or just for the sake of it once the holidays hit. Something needs to be done, and I'm not talking about car pooling or buying hybrids. Something to blast these oil companies. The economy could take a devastating hit if this keeps up. over time. Even Wal-Mart is beginning to report lower than expected earnings.

Most resturants are taking a huge hit right now to.

 

[jimotis4heisman]

Gas prices have tripled in just a few years. Has our demand and usage tripled? No way. It just boggles me. I don't know everything, but the common sense side of me still says, it just doesn't add up.

china, india and other growing economies. only 40 percent of the stuff is used as "gas" also the way gas is produced is the cheapest gallon in theory is done first then each additional gallon is more expensive, with the us using 20,000,000 barrels a day in our cars alone (multiply that by 42 for gallons)


we are coming off an era of the cheapest gas of all time...

 

[iambrutus]

Not soon enough, given that by "at his gas station" you mean the owner.

FWIW, my dad know someone that owns a gas station and he doesn't make money on gas - its on the "store" part -cigarettes, beer, ect. he said that he has a 10 cent mark up per gallon on gas, but after paying for the electric on the pumps to get the gas out of the ground its break even

 

[CCI]

Damm this is killing me $3.20, I'm hurtin for certin on cash now. No more play money. if this shit gets higher I'm buying a horse

 

[sandgk]

FWIW, my dad know someone that owns a gas station and he doesn't make money on gas - its on the "store" part -cigarettes, beer, ect. he said that he has a 10 cent mark up per gallon on gas, but after paying for the electric on the pumps to get the gas out of the ground its break even

I can absolutely believe that.

Which means that some other party is raping the consumer, and the trucker and the farmer and hence the buyer of food, and hence the consumer ...

If the excess price delta was 50-60 cents with oil at 65 BBL, and oil has gone to 69 per BBL then the max delta over the then price would be at most 75c.

Instead that excess delta is now easily over a dollar.

Someone is getting rich and it isn't the gas station owner - but I'm sure all will be clear (again) when the big oil companies issue their quarterly earnings reports. Politicians of either stripe could earn a great deal of capital by addressing this issue (and all the various causes thereof) head-on. Wonder if we will ever see that happen.

 

[Taosman]

Drive Sensibly

Aggressive driving (speeding, rapid acceleration and braking) wastes gas. It can lower your gas mileage by 33 percent at highway speeds and by 5 percent around town. Sensible driving is also safer for you and others, so you may save more than gas money.​

Fuel Economy Benefit:

5-33%​

Equivalent Gasoline Savings:

$0.15-$0.98/gallon

Observe the Speed Limiteach vehicle reaches its optimal fuel economy at a different speed (or range of speeds), gas mileage usually decreases rapidly at speeds above 60 mph.
As a rule of thumb, you can assume that each 5 mph you drive over 60 mph is like paying an additional $0.20 per gallon for gas.
Observing the speed limit is also safer.


Fuel Economy Benefit:

7-23%​

Equivalent Gasoline Savings:

$0.21-$0.68/gallon

Remove Excess Weight
Avoid keeping unnecessary items in your vehicle, especially heavy ones. An extra 100 pounds in your vehicle could reduce your MPG by up to 2%. The reduction is based on the percentage of extra weight relative to the vehicle's weight and affects smaller vehicles more than larger ones.​

Fuel Economy Benefit:

1-2%/100 lbs​

Equivalent Gasoline Savings:

$0.03-$0.06/gallon​

Avoid Excessive Idling
Idling gets 0 miles per gallon. Cars with larger engines typically waste more gas at idle than do cars with smaller engines.​

Use Cruise Control
Using cruise control on the highway helps you maintain a constant speed and, in most cases, will save gas.​

Use Overdrive Gears
When you use overdrive gearing, your car's engine speed goes down. This saves gas and reduces engine wear.​

Note: Cost savings are based on an assumed fuel price of $2.97/gallon.​

Data Sources

 

[The Man]

$3.49 a gallon in Perrysburg today. Motherfuckers.

 

[fourteenandoh]

ITS THE REFINERIES!!!! this time it's not the oil companies fault. the refineries can't turn the crude into gasoline fast enough. that's why your prices are going up. you want to see earnings, wait until tesoro or valero report. how would you like to own a business where your input costs are flat but the value of your finished product is now worth 50% more than it was 4 months ago? that's what is going on with refiners right now.

 

[Taosman]

ITS THE REFINERIES!!!! this time it's not the oil companies fault. the refineries can't turn the crude into gasoline fast enough. that's why your prices are going up. you want to see earnings, wait until tesoro or valero report. how would you like to own a business where your input costs are flat but the value of your finished product is now worth 50% more than it was 4 months ago? that's what is going on with refiners right now.

BINGO! But, the oil companies haven't been making any effort to build refineries, either!

 

[sandgk]

fourteenandoh - I agree that refining capacity is part of the cause - that is why I would seek to have solutions to all the causes.
But, it is in the oil companies power (and if they feign lack of power, in the power of politicians) to rein in clear excess over-pricing at the pump - and simple cost of raw + cost of refining + cost of delivery analysis indicates clearly that such is happening.

 

[CleveBucks]

I heard somewhere today that a new refinery hasn't been built in the U.S. since the 1970's. Is that true? If so, don't you think someone would figure out a more efficient refining operation in the last 30 years?