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Demand for gas is no higher now than it was last year. Summer driving season? We just hit Spring two minutes ago. The summer driving season doesn’t even kick off until late next month. Why didn’t gas spike last year in the summer driving season?
And please, will you guys chill with the “summer driving season” nonsense? No one is traveling anywhere in April. Heavy driving season begins after Memorial Day. Kids don’t get out of school for another few months. Gas started spiking 2 months ago.
2014, 2015, and 2016 prices dropped after late June, 2014 and 2015 dramatically. While in 2017 they rose after late June. 2013 prices were steady during the summer
Even I didn’t pay it any attention, until my Shell card bill came in the mail. Holy cow!! My monthly bill was 20% higher than last month and we drove about the same mileage as usual.
WTH? I thought all of this new “drill everywhere you can including in my driveway” type of hands off business friendly deregulation was gonna lower gas prices or at least keep it the same!
Didn’t think I’d see $3 buck gas this year. And don’t tell me about supply and demand because demand is no crazier now than it was last year. Save it.
So someone tell me what’s going on?
Gasoline is $2.559 here. It was $2.349 a couple of weeks ago. It has nothing to do with supply and demand. In case you didn't notice (and you probably didn't if you only watch CNN and MSNBC et al., we had a chemical attack in Syria and threat of war, with a strike against Assad's chemical plants (precision strike with no civilian casualties - "Mission accomplished").
That is what sent gas prices up, as such things always do (don't ask me why, because I don't know the answer, but that's how the markets work ...people get nervous, I guess).
Gas prices will come back down again. They have been up a couple other times this year for about a week, and have fallen back down.
You must not pay attention when you're at the pump. Don't you ever check the price you're paying for gas? Must be nice to not have to be concerned with what you're paying. There are stations in my area that are almost always lower than everyone else by 5-10 cents/gal. If I'm in that area, I fill up. I notice these things, and I'm price conscious. I don't have gobs of money.
Production slowed. I assume saudis flooded the market for last few years but now that Syria is settling, production slowed
Nope. As a matter of fact 'Murica has passed Saudi Arabia in the 1st Q in oil production and may pass the Rooskies for the #1 spot by years end. Althought the total amount produced by those three stayed roughly the same only 'Murica saw an increase. The other two dropped slightly.
2014, 2015, and 2016 prices dropped after late June, 2014 and 2015 dramatically. While in 2017 they rose after late June. 2013 prices were steady during the summer
Exactly. I don’t know where folks are getting this stuff from.
Demand for gas is no different now than it’s been in years, and supply is abundant. No oil producer that I’ve seen has made a single complaint about the inability to get processable crude. The stuff is all over the place.
If they’re raising prices based on anticipation of more summer driving, they’re sure doing it a hell of a long time before folks have started packing their bags. Gas started spiking weeks ago while most of the country was shivering. That dog ain’t hunting. Oil companies haven’t a clue how much more driving people are gonna be doing in June to justify a huge price hike in February, March and April.
In fact, as a codicil to your point, why don’t gas prices just keep on spiking AFTER the summer since heating oil supplies should be going through the roof, which would make up in large part for the loss in demand from attenuated summer driving?
The gas game is rigged. I’m cool with it, but I just want producers to be honest about it. And these posters with all of these market based excuses really need to quit running interference for the energy companies.
Well, if we had a Dem POTUS it would be his fault...like it would be Obama's fault.
But since we have Trump, we take it on the chin......
I'm sure that world events have a bit of bearing on it- the price has gone up recently on spot and futures market. Also, we are entering the season of heavier use, therefore less supply.
Americans are also complacent and some have stopped buying the most efficient cars they can - that means they use more gas, meaning the companies can raise prices (supply/demand).
Well, now that depends on the cause, does it not? If the cause is a prohibition on drilling, etc., then it's the fault of who is preventing that drilling and exploration. Makes sense.
In this case it is caused by market forces ...nervousness about war (Syrian chemical attack). But since CNN and MSNBC et al are focused on "Trump/Russia," that's the only thing you're hearing about, so you wouldn't know about our air strike, which they said nothing about. Things like that affect oil prices. Duh.
There is plenty of supply. We are exporting oil.
All cars today are very fuel efficient. So much so that Washington state wants to pass a "mileage tax" because they are not getting enough revenue from the gas tax ...they think.
Gasoline is $2.559 here. It was $2.349 a couple of weeks ago. It has nothing to do with supply and demand. In case you didn't notice (and you probably didn't if you only watch CNN and MSNBC et al., we had a chemical attack in Syria and threat of war, with a strike against Assad's chemical plants (precision strike with no civilian casualties - "Mission accomplished").
That is what sent gas prices up, as such things always do (don't ask me why, because I don't know the answer, but that's how the markets work ...people get nervous, I guess).
Gas prices will come back down again. They have been up a couple other times this year for about a week, and have fallen back down.
You must not pay attention when you're at the pump. Don't you ever check the price you're paying for gas? Must be nice to not have to be concerned with what you're paying. There are stations in my area that are almost always lower than everyone else by 5-10 cents/gal. If I'm in that area, I fill up. I notice these things, and I'm price conscious. I don't have gobs of money.
We buy gas with our Shell cards in my house, so no, I don’t really check it since that’s my exclusive go to gas station for the most part unless I’m not near a Shell and I need gas really bad. That’s rare. I just look at my bill at the end of the month and pay it. It was slightly higher on my last bill, but this bill was through the roof.
I keep hearing about the Syria thing as a prime mover in this gas price spike, but it just didn’t make sense. Why not jack it up by another dollar a gallon then? Why not 2 dollars? I mean, if you’re gonna use a conflict as a reason to jack up prices, why not go all in?
Ignoring the politics you're pretty correct. Summer demand will be ramping up, winter has lasted a bit longer than normal and the refineries are transitioning to summer blends. That's all on top of world events creating some uncertainty.
Well, this is the most sane reply so far. However, I suspect it's mostly to do with the Syrian chemical attack and threat of war. It will be down again in a week. It's a bit early for summer driving to affect prices, and last summer, prices remained low ...at least in my area. $2.559 here right now. Two weeks ago it was $2.359. In January it was $2.249/gal.
Well, now that depends on the cause, does it not? If the cause is a prohibition on drilling, etc., then it's the fault of who is preventing that drilling and exploration. Makes sense.
In this case it is caused by market forces ...nervousness about war (Syrian chemical attack). But since CNN and MSNBC et al are focused on "Trump/Russia," that's the only thing you're hearing about, so you wouldn't know about our air strike, which they said nothing about. Things like that affect oil prices. Duh.
There is plenty of supply. We are exporting oil.
All cars today are very fuel efficient. So much so that Washington state wants to pass a "mileage tax" because they are not getting enough revenue from the gas tax ...they think.
Lol...Syrian chemical attack isn’t a “market force.” That’s more like an excuse for a big ripoff.
Again, the Middle East has been highly unstable since 2003. The Syrian situation is a linear event, not some huge aberration in the region.
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