Gas Prices going up still (sales, buying, transport)

[thaifood]

I thought the raise in prices was due to the pipeline break which has been fixed for weeks now.

Pipeline fixed, gas supply to return to normal in coming days

[Carolina Knight]

Gas retailers have to make sales. Raising prices at the pumps is a quick and understandable solution.

[thaifood]

They were making sales before the pipeline break no ?

[Jandrew5]

Still one of the lowest, if not the lowest, prices in the entire nation. Really not that big a deal.

[thaifood]

The question remains. Why did gas prices go up in a day when the pipeline broke but now they don't go down now that it has been fixed for weeks.

[Jandrew5]

Economics.

[m1a1mg]

Collusion.

Oil is the most manipulated market in the world. Eh, maybe diamonds are more corrupt.

[Al G]

Originally Posted by Jandrew5

Economics.

Economics?
I say rip off. Always taking advantage of the situation.

[FiveLoaves]

The Price margins at your local gas station are only about 5 cents a gallon. The real markup is further back in the supply line -- the tank farm is where they really gouge the price. Consider, your local gas station bought a load of gas at last week's price, his competition may buy at a lower price this week and can sell it for less.....forcing the first station to lower his price. How many of us have changed gas stations for a penny a gallon ??

The local gas station probably makes more money on the grocery market inside. He's got a better margin on the coffee and soda that he's selling. If you want to punish a station for it's gas price, just stop buying from his market inside.

Remember when the called AT&T a monopoly and broke it into the "Baby Bells" ?? That really fixed things, didn't it ??
They should have put Big Oil under the same scrutiny. When the big guys take a cut at every step (drilling, refining, transport, and retail sales) you can see why their quarterly profits are measured in Billions.

[m1a1mg]

When oil markets have speculators running 50 miles of cable through a building to slow down trades by milliseconds, the whole thing has gone off the rails.

But FiveLoaves is right. Local stations make about 3-5¢ per gallon pure profit.