What are you paying for gas?

[Stryder]

When will the people learn. Clinton was/is/always will be a jerk and pi$$ poor example of a President.

Me and BambiKiller actually agree on something. I think I need to take a shower now. I feel all dirty.:sick:

[Bambikiller240]

Originally posted by Stryder

Me and BambiKiller actually agree on something. I think I need to take a shower now. I feel all dirty.:sick:

Imagine how dirty HE (and the other slime ball that I mentioned) should feel. They both need a shower and a wire brush scrubbing.

[SHOTIME]

Originally posted by halz

...and yet you continue to pay for fuel, high price or low. Oil companies (and other primary producers/refiners) have always played this game. The truth is, the price is not high or low - the price is what the market will pay... and you are the market.

Thank you, at least someone here understands economics.

[halz]

Shotime, you're welcome. I saw an interesting e-chainmail (if they can be termed as interesting). It suggested that 'the public' should boycot BPAmoco fuel stations (or one of the other major companies). If just one company noticed that their sales volume had fallen then they would be forced to lower their prices. The theory was that this would sparc a consumer-led price war bewteen the fuel suppliers... sounds ok in theory but getting 'the mob' to all follow suit is the hard part.

Another thought that no one has raised is that certain cities (eg Perth and Houston are the two I have experience with) NEED high oil prices ...(I'm bracing for the flaming here). Both of these cities have strongly resource-based economies with a strong (very strong in the case of Houston) oil and gas component. As anyone working in the oil patch will tell you, high oil prices mean good times for oil industry employees and the spin off in associated employment and spending cannot be disputed. There are plenty of old hands in Texas who will tell you how cheaply they could have bought a House/Boat/Ferrari when the price of oil plummeted in the past.

[Bambikiller240]

halz:

The sad fact is that very little (if any) of the price increase at the pumps filters back to the employees. Especially in the current situation where the economy as a whole is in the toilet, and the rise in price is driven not by increased demand but ASSUMPTION of more limited supplies in the future.

Better go back to those economics books.

[halz]

Bambikiller - I never read an economics book in my life (does it show?!) but I do work in the oil exploration industry. I can tell you that a high oil price does mean more exploration (which is good for me!). It also means that otherwise marginally economic projects become viable. By 'project' I mean an oilfield development. If a company or consortium of companies decides to spend $350 million on development infrastructure then that is something not to be sneezed at - the money has to be spent somewhere and on something which means an economy is being stimulated.

As for your ASSUMPTION about high oil prices in the future. Who is making that assumption? The market? Futures traders? They are a part of the market too and the price is being driven up by those guys buying up now in anticipation. Prices don't just go up by themselves - buyers and sellers are involved. I'm not pretending that it makes life any easier for us who need to buy fuel. Its just that we should not be suprised at the "fast to rise, slow to fall" antics of the oil price.

[Bambikiller240]

Originally posted by halz

As for your ASSUMPTION about high oil prices in the future. Who is making that assumption? The market? Futures traders? They are a part of the market too and the price is being driven up by those guys buying up now in anticipation. Prices don't just go up by themselves - buyers and sellers are involved. I'm not pretending that it makes life any easier for us who need to buy fuel. Its just that we should not be suprised at the "fast to rise, slow to fall" antics of the oil price.

Yes, the oil futures traders seem to be driving the market currently. Those of us at the "sharp end of the stick" find little consolation in the fact that the price of oil FUTURES is reflected IMMEDIATELY at the pumps when the price is going up, and falls months after lower priced oil ARRIVES in the US for processing; enabling the oil companies to use the money "somewhere and on something which means an economy is being stimulated". The overall economy could just as well stimulated by allowing the general public to retain that money for personal spending. These are windfall profits. Are you telling us that the prices we ALWAYS pay at the pump do not include monies for the (admittedly significant) costs of developing additional supplies through exploration or whatever? I would find that very hard to believe, as it would not make good business sense, and is contrary to the limited information that I have read.

Many of us ARE surprised at the quick rise and slow fall of prices for one simple reason. The oil companies do this in such an extreme manor that it defies logic, and seems to always result in record profits reports for three or four fiscal quarters beyond the price spikes in the crude oil prices.

I have nothing against the people who work ing the oil industry, but I do find that IMHO the executive management of those companies to be thieves of the highest skill.

.

[Datsundan]

Here in Denmark we pay 1.10$ per liter (not gallon) for octane 95.......so sick!:sick:

[Bambikiller240]

Prices for Premium (91 octane ) have fallen to $2.29.9/gallon from the high of $2.47.9

[daddz]

Just thought you folks would be interested in the following website as it deals directly with the problem at hand:

http://www.gaspricewatch.com/

It does come in handy when the lowest price for a given grade of fuel is the ultimate target.

[Mike]

Prices went down about $.20 in a week!! I paid $1.69 today for regular. (located in Oregon)

[MikeW]

I paid $1.25 today for 87 octane