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so why the DAILY jumps in gas?? Do these jumps ever suggest that gas price is volatile and so it could go down? Or are we on a permanent wild ride upward to who knows where?
so why the DAILY jumps in gas?? Do these jumps ever suggest that gas price is volatile and so it could go down? Or are we on a permanent wild ride upward to who knows where?
Replacement cost.
If you own a filling station, and most filling stations are privately owned and operated, for example Royal Dutch Shell sold off all of their stations and they no longer own them (but Luxoil, Hess and a few others still own theirs) and you buy gasoline at $3.50/gallon and then are informed the next load will be $3.60/gallon, what you do?
Increase price. Does $3.50 buy $3.60 worth of gasoline? No. Buy it on credit? Is credit free? No, assuming you can even get credit.
I paid $3.78 last night in Southern California. On my way home from work today, I scrutinized every gas station I passed. The cheapest was about $3.71 and the most expensive was $3.89; of course these prices are for regular (the "cheap" stuff ).
I read an article in the L.A. Times fifteen years ago which warned about the possible effects if the price of oil rose significantly. I wrote a letter (which the paper actually printed), stating that our politicians were too short-sighted to do anything about this because they cared more about getting elected than anything else. It looks like I was right; I wish I weren't! This is going to get ugly before it's all over.
As I was pedaling my bicycle home from work on my daily commute route (that I've been pedaling almost every work day for the past 11+ years) I noticed the price of gas at a local station was $3.80 for regular, 3.90 for mid grade,4.00 for premium, 4.09 for Diesel. They recently installed a natural gas refilling unit for natural gas powered vehicles like the Honda Civic NGV. but I don't know what the equivalent price would be for a full tank. From what I know, it costs about 60 percent less per mile in fuel costs for natural gas vehicles compared to regular gasoline. I'm sure glad I don't have to buy much dinosaur juice.
Do we have no collective memory at all? Two or three years ago gas prices hit $4 per gallon, then went down - way down. We are acting like this never happened before. Of course, over time, the trend is up - has to be because of supply and demand. No one owes us cheap gas, so why all the hysteria? Actually, what we pay at the pump is the least of our worries because it is the ripple effect throughout the economy which is worse; things cost more to transport and those costs are tacked on at the grocery store and everywhere else. Americans tend to be extremely short-sighted; when gas is up we buy lots of Priuses and the like. Then gas goes down and we revert to buying SUV's. If we were rational we would position ourselves for the longer term and have cars that get excellent mileage, period.
Do we have no collective memory at all? Two or three years ago gas prices hit $4 per gallon, then went down - way down. We are acting like this never happened before. Of course, over time, the trend is up - has to be because of supply and demand. No one owes us cheap gas, so why all the hysteria? Actually, what we pay at the pump is the least of our worries because it is the ripple effect throughout the economy which is worse; things cost more to transport and those costs are tacked on at the grocery store and everywhere else. Americans tend to be extremely short-sighted; when gas is up we buy lots of Priuses and the like. Then gas goes down and we revert to buying SUV's. If we were rational we would position ourselves for the longer term and have cars that get excellent mileage, period.
Agree. Due to speculation when oil goes down again its likely to go way down. At high times its way too expensive and at low times its way too cheap. That will continue until commodities trading is re-regulated.
When oil crashed in 2008 it was back to SUVs and pickups. America has a love-affair with gas guzzling vehicles for some reason. People that live in urban and suburban America don't really need an SUV. Why not bring back the station wagon for families?
The gas in Portland at the Chevron near me was $3.49 a week or so ago, its at $3.76 today for the cheapest. The most expensive was $4.03. I don't worry about it since I just walk by the gas stations.
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).
This is going to get ugly before it's all over.
