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Old 04-23-2007, 09:40 AM  
Donger Donger is offline
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Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

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Last edited by Donger; 10-10-2014 at 02:43 PM..
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Old 08-09-2011, 05:57 PM   #3076
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Originally Posted by Donger View Post
Because this collapse happened VERY suddenly, not over a month or so. I haven't run the numbers, but I think it's close to a 10% drop in crude in three DAYS. Add to that the fact that the price drop of gasoline lags a good week or two crude. Crude doesn't just magical turn itself into gasoline overnight.

We should see prices on gasoline drop to the $3.20 range or so over the next few weeks if the slide continues.
Fair enough.

My job this week has me going to St. Louis (Earth City) and back, and just as you get to the mall on the west side, there was a Quicktrip that was selling gas for 3.15/gal. The further west you go, the higher the cost went, until on my way home, the Quicktrip by my house was selling for 3.49/gal. Granted, this was at 8 this morning when I saw the price. Maybe it's dropped by now.
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Old 08-09-2011, 05:59 PM   #3077
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Originally Posted by Donger View Post
Because this collapse happened VERY suddenly, not over a month or so. I haven't looked at the numbers, but I think it's close to a 10% drop in crude in three DAYS. Add to that the fact that the price drop of gasoline lags a good week or two crude. Crude doesn't just magical turn itself into gasoline overnight.

We should see prices on gasoline drop to the $3.20 range or so over the next few weeks if the slide continues.
Ok, then why is it that gas will literally jump overnight when price of crude jumps?
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Old 08-09-2011, 06:02 PM   #3078
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Originally Posted by Bugeater View Post
Ok, then why is it that gas will literally jump overnight when price of crude jumps?
We've been over this. The price goes up faster than it drops because the stations are always looking at what their replacement cost is going to be. Those big tankers you see provide the entire stock of gasoline they sell and they buy that at a specific price.

If they don't immediately raise prices when crude makes upward movement, they run the risk of actually losing money per gallon if they don't raise prices immediately.
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Old 08-09-2011, 06:56 PM   #3079
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Quote:
Originally Posted by Donger View Post
We've been over this. The price goes up faster than it drops because the stations are always looking at what their replacement cost is going to be. Those big tankers you see provide the entire stock of gasoline they sell and they buy that at a specific price.

If they don't immediately raise prices when crude makes upward movement, they run the risk of actually losing money per gallon if they don't raise prices immediately.
AKA Price Gouging
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Old 08-09-2011, 06:58 PM   #3080
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Originally Posted by Dave View Post
AKA Price Gouging
And no matter how many times I ask, he'll never admit it.
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Old 08-09-2011, 07:05 PM   #3081
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Originally Posted by Bugeater View Post
And no matter how many times I ask, he'll never admit it.
That's because it isn't. You expect them to accept losing money?
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Old 08-09-2011, 07:16 PM   #3082
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Donger, your explanation is correct, but flawed at the same time....what they are saying is it should go down as fast as it goes up, theoretically ...by lagging behind the stations do make more on one side than the other....they don't always just charge, say 5 cents over replacement cost...if it goes up, they use replacement cost.. if its already in the tank (and for this scenario, crude is falling), they want to sell whats in the tank for over what they have in it (which they are saying is gouging...while it may not be 'gouging', it is tilted in their favor)
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Old 08-09-2011, 07:22 PM   #3083
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Originally Posted by tate2133 View Post
Donger, your explanation is correct, but flawed at the same time....what they are saying is it should go down as fast as it goes up, theoretically ...by lagging behind the stations do make more on one side than the other....they don't always just charge, say 5 cents over replacement cost...if it goes up, they use replacement cost.. if its already in the tank (and for this scenario, crude is falling), they want to sell whats in the tank for over what they have in it (which they are saying is gouging...while it may not be 'gouging', it is tilted in their favor)
Yes, I know what Bug is saying. What I'm trying to do is explain why the prices go up faster than they go down.

And making a few cents per gallon isn't gouging, would you agree?
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Old 08-09-2011, 10:04 PM   #3084
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not gouging, but frustrating to some I guess... its hard when people complain but offer no alternative solution...one thing you always have to remember is to look and consider how easy it is for us to buy gas...most people never look at the other side, ie owning the store, buying in bulk, hoping people come in and buy a pop and snickers...The stations have to make money to be able to stay open....what should be more frustrating to here are the quarterly profits of oil companies, while they do take all the risks they do, sometimes it tough to swallow why they should be making billions...

I just wish we would back off some of these EPA regulations...that is killing our country...We run cattle, sheep and I have 4 over the road trucks...sometimes I think people forget how EVERYTHING moves in this country...if you get it at a store, it came by truck, it didnt just show up there...some states are getting better, some worse
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Old 08-09-2011, 10:10 PM   #3085
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Originally Posted by tate2133 View Post
not gouging, but frustrating to some I guess... its hard when people complain but offer no alternative solution...one thing you always have to remember is to look and consider how easy it is for us to buy gas...most people never look at the other side, ie owning the store, buying in bulk, hoping people come in and buy a pop and snickers...The stations have to make money to be able to stay open....what should be more frustrating to here are the quarterly profits of oil companies, while they do take all the risks they do, sometimes it tough to swallow why they should be making billions...

I just wish we would back off some of these EPA regulations...that is killing our country...We run cattle, sheep and I have 4 over the road trucks...sometimes I think people forget how EVERYTHING moves in this country...if you get it at a store, it came by truck, it didnt just show up there...some states are getting better, some worse
Too much government. This country can't get out of it's own ****ing way.
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Old 08-09-2011, 10:24 PM   #3086
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Old 08-10-2011, 09:34 AM   #3087
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Gasoline has already dropped $0.07 since this time last week. Now at $3.64
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Old 08-10-2011, 09:34 AM   #3088
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Originally Posted by tate2133 View Post
not gouging, but frustrating to some I guess... its hard when people complain but offer no alternative solution...one thing you always have to remember is to look and consider how easy it is for us to buy gas...most people never look at the other side, ie owning the store, buying in bulk, hoping people come in and buy a pop and snickers...The stations have to make money to be able to stay open....what should be more frustrating to here are the quarterly profits of oil companies, while they do take all the risks they do, sometimes it tough to swallow why they should be making billions...

I just wish we would back off some of these EPA regulations...that is killing our country...We run cattle, sheep and I have 4 over the road trucks...sometimes I think people forget how EVERYTHING moves in this country...if you get it at a store, it came by truck, it didnt just show up there...some states are getting better, some worse
Yeah, it's frustrating for some. But that's what makes it so funny, too.
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Old 08-10-2011, 09:37 AM   #3089
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Old 08-11-2011, 01:38 PM   #3090
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Crude surging today. Now at $85.89, up $3.00 (+3.62%).
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