Gas prices post first drop since January

[Vegas]

http://www.cnn.com/2007/US/06/10/gas.prices/index.html?

(CNN) -- Gas prices are down for the first time since January, according to a national survey released Sunday.

The average price of a gallon of self-serve regular gasoline has dropped more than 7 cents in the past three weeks, to $3.11, the survey found.

Drivers in Jackson, Mississippi, are getting the best deal at $2.87 per gallon. Chicago drivers are paying the most -- $3.61.

The Lundberg Survey of about 5,000 gas stations was carried out June 8 and May 18.

When the average price of gasoline hit $3.18 in May, it was the highest price ever recorded, even when adjusted for inflation, according to a previous Lundberg survey.

The 7.37-cent drop comes nowhere near offsetting the $1.00 rise in the price of gas that occurred between January 19 and May 18, said survey publisher Trilby Lundberg.

"It's unlikely we can see the other 93 cents any time soon," she told CNN in a telephone interview.

Most of that 7-cents-relief came from lower prices charged for gas produced in refineries outside the United States, she said.

"Some of our domestic refining capacity is still just limping along, after at least four months of extraordinary down time," she said, citing seasonal maintenance and more than 30 other events "that were beyond ordinary seasonal tune-ups," including fires and explosions.

The nation's refineries are operating at 89.6 percent capacity, down about 6 points from normal, she said.

Though some U.S. refineries have been expanded in recent years, no new refineries have been built in the country since 1976.

[Jiddy78]

http://www.cnn.com/2007/US/06/10/gas.prices/index.html?

(CNN) -- Gas prices are down for the first time since January, according to a national survey released Sunday.

The average price of a gallon of self-serve regular gasoline has dropped more than 7 cents in the past three weeks, to $3.11, the survey found.

Drivers in Jackson, Mississippi, are getting the best deal at $2.87 per gallon. Chicago drivers are paying the most -- $3.61.

The Lundberg Survey of about 5,000 gas stations was carried out June 8 and May 18.

When the average price of gasoline hit $3.18 in May, it was the highest price ever recorded, even when adjusted for inflation, according to a previous Lundberg survey.

The 7.37-cent drop comes nowhere near offsetting the $1.00 rise in the price of gas that occurred between January 19 and May 18, said survey publisher Trilby Lundberg.

"It's unlikely we can see the other 93 cents any time soon," she told CNN in a telephone interview.

Most of that 7-cents-relief came from lower prices charged for gas produced in refineries outside the United States, she said.

"Some of our domestic refining capacity is still just limping along, after at least four months of extraordinary down time," she said, citing seasonal maintenance and more than 30 other events "that were beyond ordinary seasonal tune-ups," including fires and explosions.

The nation's refineries are operating at 89.6 percent capacity, down about 6 points from normal, she said.

Though some U.S. refineries have been expanded in recent years, no new refineries have been built in the country since 1976.

They jack 'em a tad higher than necessary when they need to inflate the economy, then drop 'em that tad to make the idio...er...people think they're getting a deal.

Like that old invoice at a higher price then put "discount" in like yer getting some sort of f*cking deal. Psychology....or, as the Babylonians put it "Good business"...

[Vegas]

They jack 'em a tad higher than necessary when they need to inflate the economy, then drop 'em that tad to make the idio...er...people think they're getting a deal.

Like that old invoice at a higher price then put "discount" in like yer getting some sort of f*cking deal. Psychology....or, as the Babylonians put it "Good business"...

So who is "they?"

[Jiddy78]

So who is "they?"

Oil entrepreneurs....But I guess I should qualify that these maneuvers are ad hoc reactionary to the actions of the banks & gse's....or, even better, in coordination with....but that's for the conspiracy thread.

[Vegas]

Oil entrepreneurs....But I guess I should qualify that these maneuvers are ad hoc reactionary to the actions of the banks & gse's....or, even better, in coordination with....but that's for the conspiracy thread.

You're correct. That kind of stuff belongs in the conspiracy thread. Gas prices are set by the worldwide market.

[LSU]

You're correct. That kind of stuff belongs in the conspiracy thread. Gas prices are set by the worldwide market.


That's beginning to sound like the conspiracy.

[Jiddy78]

You're correct. That kind of stuff belongs in the conspiracy thread. Gas prices are set by the worldwide market.

Then why is it more expensive in London when the pound is stronger?

And "markets" don't set prices...People do...Maybe a "group" of people that predetermines what it will sell its product for...Heck, may even be some government intervention that makes the "market" for gas unique....but by no way and means is this some sort of free marketed product....No way...There are measures and controls...thus eliminating any reasonable expectation of human intervention not taking place....and human intervention always swings to the side of gree....er...profit. Period.

Hiding flesh with intangibles will hardly fly with me Vegas.

[Tom Joad]

You're correct. That kind of stuff belongs in the conspiracy thread. Gas prices are set by the worldwide market.

I find that hard to believe. Ever notice how gas stations across the street from each other often have the same prices? A student of mine worked at a Shell gas station and told me that one of his job responsibilities was to look across the street once every hour and then change the prices to match the competition.

[LSU]

I find that hard to believe. Ever notice how gas stations across the street from each other often have the same prices? A student of mine worked at a Shell gas station and told me that one of his job responsibilities was to look across the street once every hour and then change the prices to match the competition.



Yep. A few blocks from my house there is a Shell station. Across the street is a local establishment (generic) that only has 2 pumps. They're always exactly 2 cents less than the Shell station.

[Jiddy78]

Yep. A few blocks from my house there is a Shell station. Across the street is a local establishment (generic) that only has 2 pumps. They're always exactly 2 cents less than the Shell station.


I think Vegas is talking about prices TO the station rather than prices from the station to the consumer...It's a link among the chain, but of course Joe Six Pack gas station owner is gonna play the "get as much as I can out of them be it through volume or price" game....But that's pennies in the big scheme of things in comparison to the government's cut and the oil companies "neatly expensed off to the oil exec's family's secret trust fund" profit...

[Vegas]

I find that hard to believe. Ever notice how gas stations across the street from each other often have the same prices? A student of mine worked at a Shell gas station and told me that one of his job responsibilities was to look across the street once every hour and then change the prices to match the competition.

That's the market in action.

[hannitykillspuppies]

it's not their fault they $400 mil pensions to pay off.

[Jiddy78]

That's the market in action.

Next time I watch COPS, I'm going to say "That's humanity in action."

Then everything will be all right in the world.

[Tom Joad]

Next time I watch COPS, I'm going to say "That's humanity in action."

Then everything will be all right in the world.

Rep (I'll now actually rep you). :)

[Vegas]

Then why is it more expensive in London when the pound is stronger?

And "markets" don't set prices...People do...Maybe a "group" of people that predetermines what it will sell its product for...Heck, may even be some government intervention that makes the "market" for gas unique....but by no way and means is this some sort of free marketed product....No way...There are measures and controls...thus eliminating any reasonable expectation of human intervention not taking place....and human intervention always swings to the side of gree....er...profit. Period.

Hiding flesh with intangibles will hardly fly with me Vegas.

So you're complaining that we have cheaper gas than most of the world? That's because we have lower fuel taxes (although still ridiculously high) and freer markets.

If you really think the gasoline markets are manipulated, that should be on the conspiracy thread. And again I ask why gasoline prices are moving lower right now if it's not a market situation. If it's a conspiracy, the prices should just keep moving higher and higher forever. Prices can and have dropped many times over the years in reaction to the markets. Why can't the people "in charge" sustain the highest prices forever?

[Vegas]

Oh, and why is bottled water more expensive than gasoline?

[LSU]

Oh, and why is bottled water more expensive than gasoline?


1) We ingest it.
2) Fear.

[Jiddy78]

So you're complaining that we have cheaper gas than most of the world? That's because we have lower fuel taxes (although still ridiculously high) and freer markets.

If you really think the gasoline markets are manipulated, that should be on the conspiracy thread. And again I ask why gasoline prices are moving lower right now if it's not a market situation. If it's a conspiracy, the prices should just keep moving higher and higher forever. Prices can and have dropped many times over the years in reaction to the markets. Why can't the people "in charge" sustain the highest prices forever?

Small dents will not change inflation and...*smirks*...the laws of supply and demand.

Gas prices will rise indefinitely unless gas' usefulness wears out so long as there is an inflationary economy.

What is "high?"

And...Have you ever heard me say "high?" I don't think our gas is expensive at all. But yes, it could be argued as a tool of inflation, if gas prices shift higher, so will cost of goods and services. Cost push inflation. The dependence of our transportation infrastructure on gas demands it.

Thus, the relationship to our Federal reserve & banking system is outright blatant....as that bank attempts to "control" said inflation.

[BoredWithNoSB]

Supply & Demand?

People are flocking away from Michigan. Demand in our state is decreasing. However, prices in our area are increasing more in relation to the rest of the nation.

Hardly a free market when it comes to gas. Its an oligopoly, and as we all know collusion is very possible, if not likely, in that case.

[Vegas]

Supply & Demand?

People are flocking away from Michigan. Demand in our state is decreasing. However, prices in our area are increasing more in relation to the rest of the nation.

Hardly a free market when it comes to gas. Its an oligopoly, and as we all know collusion is very possible, if not likely, in that case.

If people are flocking away from Michigan, the oil companies ship lower amounts of gas there due to the lower demand in that area. The overall scarcity nationwide keeps the price what it is compared to the overall demand.

[BoredWithNoSB]

If people are flocking away from Michigan, the oil companies ship lower amounts of gas there due to the lower demand in that area.


So, they manipulate the supply to keep prices high. Got it.

[Vegas]

So, they manipulate the supply to keep prices high. Got it.

You're getting some logic there that isn't there.

[Tom Joad]

Oh, and why is bottled water more expensive than gasoline?

Bottled Water
Home delivery $1.50 to $1.75 per gallon
Food Store $ .85 to $1.00 per gallon
Water Store $ .25 to $ .75 per gallon
Vending Machine $ .25 to $ .35 per gallon

Gasoline
$2.79-$3.29 per gallon

So, unless you're buying Evian, that's not true.

[Vegas]

Bottled Water
Home delivery $1.50 to $1.75 per gallon
Food Store $ .85 to $1.00 per gallon
Water Store $ .25 to $ .75 per gallon
Vending Machine $ .25 to $ .35 per gallon

Gasoline
$2.79-$3.29 per gallon

So, unless you're buying Evian, that's not true.

I'm talking about Evian and similar products. They cost more than gasoline. If you look at the entire process of processing and transporting, gasoline is a bargain.

And again I reiterate that the government imposed taxes on gasoline affect the prices far more than the profit the oil companies make.

[Tom Joad]

I'm talking about Evian and similar products. They cost more than gasoline. If you look at the entire process of processing and transporting, gasoline is a bargain.

And again I reiterate that the government imposed taxes on gasoline affect the prices far more than the profit the oil companies make.

It's always the government's fault...big business never does anything wrong. Whatever.

[Jiddy78]

I'm talking about Evian and similar products. They cost more than gasoline. If you look at the entire process of processing and transporting, gasoline is a bargain.

And again I reiterate that the government imposed taxes on gasoline affect the prices far more than the profit the oil companies make.

That's because the economy and the gas are closely connected...thus why we blow sh*t up if something dares step in our way. So long as I keep all my limbs and my ticker is tickin'...Go for it. It's just commies and terrorists anyway. Need my widescreen for the garage and a new putter cover....possibly some new mudflaps...

[pnkpanther]

if gas is a "free market" why is there a price floor, but no price ceiling

[Jiddy78]

if gas is a "free market" why is there a price floor, but no price ceiling

Because then we'd have to blow all the commies up. One at a time is better for widescreen TV production. They're on refrigerators now, ya know?

[ryr8828]

In my opinion fuel prices and interest rates are the biggest drags on the economy.

Undisciplined people manage to allow both to fuck them royally in a geometric sort of thing.

[Jiddy78]

In my opinion fuel prices and interest rates are the biggest drags on the economy.

Undisciplined people manage to allow both to fuck them royally in a geometric sort of thing.

You really shouldn't badmouth our fed like that. :cool:

[ryr8828]

You really shouldn't badmouth our fed like that. :cool:

The fed has nothing to do with them charging gas they can't afford on an 18% credit card.
Or golf clubs, trips, presents, swimming pools.

And then theres the car at 20% because they have bad credit. Then the payday loan place comes into play. I hear their ad about every 5 minutes on the radio.

[Vegas]

It's always the government's fault...big business never does anything wrong. Whatever.

So do you think it's right that the government makes over 6 times as much as the oil company on a gallon of gas?

And you do understand that you the consumer are directly paying that tax?