Big Pumpin': Gas Prices Shoot Up Over Past Two Days (maintenance, store)

[nullgeo]

Originally Posted by user_id

Sorry, but this isn't how it works. When commodities increase in value the only group that, as a whole, benefits is the producers of the commodity. Traders can profit just as easily from declines in commodity prices as they can increases, there is no reason for them to favor high prices that are costly to the consumer.

When a trader profits, he is making money from his counter-party (another trader) not the consumer.

But, you've found your boogeyman and you are obviously going to use it in your explanatory apparatus regardless of....well....reality.

Well here I was done with you on this topic ... but I just have to snort. That traders don't profit at the expense of consumers flies in the faces of pretty much all the economists and investigative journalists who cover the topic. That's why government is exploring how to limit and control market speculations.

[user_id]

Originally Posted by nullgeo

Well here I was done with you on this topic ... but I just have to snort. That traders don't profit at the expense of consumers flies in the faces of pretty much all the economists and investigative journalists who cover the topic. That's why government is exploring how to limit and control market speculations.

Snort away, doesn't change the fact that you seem to not even have a basic understanding of what traders do.... They are just a boogeyman for you...

So, to say it again, traders as a whole don't profit from oil increases. For every trader that profited, you'll have one that lost. The only people that are benefiting from high oil prices are the producers of the oil....you're barking up the wrong tree.

[steel7]

A barrel of oil is down $1.00 to $92.00. Still to damn high.

[NewToCA]

With the latest drop in oil prices, it seems to me that we are paying quite a bit too much for gas out here in California:


NEW YORK (CNNMoney) -- The price of oil dropped below $88 a barrel Wednesday, hitting a seven-month low, as fiscal worries in Europe sparked a broad sell-off across markets.

In New York, oil prices sank as low as $87.49 a barrel, before rebounding slightly to trade around $88. That's still down almost $3 a barrel from Tuesday.


My good friends back in Ohio are currently paying about $3.50 a gallon, while in New Jersey they are paying about $3.40.

[mike0421]

We drove from Santa Barbara to St. Louis last week. As we continued to drive east, the prices continued to fall. When we left Santa Barbara last Wednesday, we filled at the very cheapest station for $4.29. By the time we reached Central Missouri on Sunday, we were paying $3.19 a gallon.

Housing, cost of goods and services, gasoline, you name it, it seems that relative to earnings potential, the costs are out of whack the further west you travel or settle in this country.

[1AngryTaxPayer]

Originally Posted by Fontucky

Just dumped 80 bucks into the tank of my F-150 @ 4.21 a gal. Good thing I walk to work.

That's half a tank for my Super Duty.

[leonard]

Originally Posted by NewToCA

With the latest drop in oil prices, it seems to me that we are paying quite a bit too much for gas out here in California:


NEW YORK (CNNMoney) -- The price of oil dropped below $88 a barrel Wednesday, hitting a seven-month low, as fiscal worries in Europe sparked a broad sell-off across markets.

In New York, oil prices sank as low as $87.49 a barrel, before rebounding slightly to trade around $88. That's still down almost $3 a barrel from Tuesday.


My good friends back in Ohio are currently paying about $3.50 a gallon, while in New Jersey they are paying about $3.40.

$3.15 here today.

[NewToCA]

Originally Posted by leonard

$3.15 here today.

We are looking at $4.12 if you pay cash, $4.19 if you charge it.

[leonard]

Originally Posted by NewToCA

We are looking at $4.12 if you pay cash, $4.19 if you charge it.

If I use my Value Card from my food market it will be $3.00

[NewToCA]

Huge difference between California gas prices and practically everyone else.