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09-14-2008, 05:49 PM
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Hummer Guru
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Join Date: Dec 2006
Posts: 2,195
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Re: Why is...
rediculous, defintly price guaging, fuel actually dropped 7 cents a barrel today, not a big amount, but shows that the hurricane didnt cause oil prices to go up. By me gas prices went from 3.65 to 3.85
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2003 H1 HMCS: Ocean Blue Metallic, Grey Leather Interior
2010 H3 Alpha: Canyon Metallic, Cashmere Interior
2017 VW Jetta S
2012 Cessna 182T Skylane
used to have: 2007 base H3 Slate Blue
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09-14-2008, 06:40 PM
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Hummer Messiah
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Join Date: Nov 2002
Location: PDX
Posts: 2,367,817
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Re: Why is...
It's blatant gouging. Last I heard that was illegal.
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09-15-2008, 06:26 PM
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Hummer Messiah
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Join Date: Apr 2003
Location: Virginia Beach
Posts: 37,474
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Re: Why is...
I talked with a station owner today who said he was going to run out by this evening and the terminal didn't know when he'd get fuel.
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"My reading of history convinces me that most bad government results from too much government."---Thomas Jefferson
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09-15-2008, 07:48 PM
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Hummer Professional
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Join Date: Jun 2006
Posts: 373
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Re: Why is...
1 out of every 4 gallons of gas consumed in the U.S. is refined in Houston, right now the power is out to most of that area and it's underwater.
So in this situation the price of a barrel isn't as important as being able to refine it.
Frankly I'm surprised gas hasn't gone higher now that the extent of the damage is known.
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09-15-2008, 08:42 PM
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Hummer Guru
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Join Date: Dec 2005
Location: In a FREE U.S.A. where Marxism, Socialism & Communism is not allowed !
Posts: 5,485
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Re: Why is...
Filled up at COSTCO about 2 hours ago @ $3.73 9/10th...last week on Wednesday was $3.61 9/10th
Guess I'm lucky, only 12 cents in 1 week increase 
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History, be it in 1 Year, 10 Years, a Hundred Years or One Thousand, will show that those people who voted for John McCain in the United States Presidental Election of 2008 were true patriots...
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09-15-2008, 10:55 PM
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Hummer Guru
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Join Date: Dec 2006
Posts: 2,195
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Re: Why is...
Quote:
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Originally Posted by mdoyle
1 out of every 4 gallons of gas consumed in the U.S. is refined in Houston, right now the power is out to most of that area and it's underwater.
So in this situation the price of a barrel isn't as important as being able to refine it.
Frankly I'm surprised gas hasn't gone higher now that the extent of the damage is known.
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wouldnt the price per barrel go up if this was the case?
__________________
2003 H1 HMCS: Ocean Blue Metallic, Grey Leather Interior
2010 H3 Alpha: Canyon Metallic, Cashmere Interior
2017 VW Jetta S
2012 Cessna 182T Skylane
used to have: 2007 base H3 Slate Blue
/''T''|[___|___]
[---T--L -OlllllllO-]
()_)"""()_)/"**"\)_)
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09-16-2008, 03:50 AM
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Hummer Professional
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Join Date: Jun 2006
Posts: 373
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Re: Why is...
Quote:
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Originally Posted by 3Hummer
wouldnt the price per barrel go up if this was the case?
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Not initially in fact taken to the extreme example if refining capacity declines to the point that there is a glut of oil awaiting processing, then the price of oil can actually decline as it becomes heavy on the supply side.
Refinery capacity is one of the keys to low cost oil products, additional drilling and exploration need to match up with refinery capacity to prevent a supply chain bottleneck and hence higher refinery output prices. |
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