Why High Gas Prices?

• ernest_t_bass

  

  They seem to be jumping 10¢ per day. Is supply that short, demand that high? Is this something that should be regulated? Why are they so stinking high, and why do they keep rising, rising, rising? Is this all b/c of stupid speculators?
  
  With this tsunami, I'm sure they'll spike yet again.
• justincredible

  

  But yesterday was a gas strike. That had to work, right?
• LJ

  

  Speculation is how the commodities market works. I mean, it has NEVER been a supply and demand market. When people say "speculators" what they really mean is " the majority of people and firms who trade in commodities"
  
  Also, Libya produces a very high quality oil, so while we don't get a majority of our oil from them, not getting it is a hit because of the amount of gasoline that can be refined from it.
• se-alum

  

  Prices went up $.20 overnight here. Probably blaming that one on the Earthquake.
• Pick6

  

  justincredible;707335 wrote:But yesterday was a gas strike. That had to work, right?

  
  I thought it was March 31st, unless there are multiple ones.
  
  I just know I spent $45 to fill up my 12.5 gallons yesterday
• derek bomar

  

  Pick6;707344 wrote:I thought it was March 31st, unless there are multiple ones.
  
  I just know I spent $45 to fill up my 12.5 gallons yesterday

  
  I would love to spend $45 for a fillup.
• bases_loaded

  

  se-alum;707342 wrote:Prices went up $.20 overnight here. Probably blaming that one on the Earthquake.

  
  If it really is supply and demand we should see prices go down because of the quake.
• LJ

  

  BTW, I use E85 in my truck
  
  $2.89 per gallon. With the loss in MPG it evens out to ~$3.05
• justincredible

  

  My truck has a 27 gallon tank. It's getting close to a $100 fill up for me.
• gorocks99

  

  I haven't driven my car in a month. Put on 2,000 miles in the past 6 months, mainly from trips to Minneapolis and Kalamazoo. City life!
• j_crazy

  

  the price of gas is regulated more than anything in the US right now.
  
  Jeans and hamburgers can have up to 500% mark up over manufacturing costs, and no one bats an eye. but if gas prices get to be more than 20% of production costs, it's price gouging and it's illegal, and it's policed.
• thavoice

  Its not as much supply and demand anymore...it is speculators and such....from what I heard a few experts talk about recently.
  
  ...unrest in the middle east....earthquake...tsunami....camel farting in the desert....soon it will be summer blend....etc....etc....etc..
• ZWICK 4 PREZ

  

  justincredible;707351 wrote:My truck has a 27 gallon tank. It's getting close to a $100 fill up for me.

  
  huh? I have a 35.7 gallon tank in my f150. How did you get a 27?
• dlazz

  My truck has a 10000000000000 gallon tank.
• LJ

  

  dlazz;707372 wrote:My truck has a 10000000000000 gallon tank.

  
  I'm jealous
• Thunder70

  

  I've heard from various refinery workers that there is actually a gasoline glut in the US and that they are running out of places to store it. I wonder how true that is...
• ernest_t_bass

  

  j_crazy;707355 wrote:the price of gas is regulated more than anything in the US right now.
  
  Jeans and hamburgers can have up to 500% mark up over manufacturing costs, and no one bats an eye. but if gas prices get to be more than 20% of production costs, it's price gouging and it's illegal, and it's policed.

  
  My car doesn't run on denim!
• Con_Alma

  Thunder70;707378 wrote:I've heard from various refinery workers that there is actually a gasoline glut in the US and that they are running out of places to store it. I wonder how true that is...

  
  Yep, I read not too long ago supplies are very high right now.
• oberhaus

  

  I spend $900 a week on Diesel. Just a few months ago it was only $700
• Heretic

  

  ernest_t_bass;707397 wrote:My car doesn't run on denim!

  
  Guess you lose, then. Derp.
• justincredible

  

  ZWICK 4 PREZ;707359 wrote:huh? I have a 35.7 gallon tank in my f150. How did you get a 27?

  
  I dunno. Mine is an 05.
• ernest_t_bass

  

  Heretic;707416 wrote:Guess you lose, then. Derp.

  
  Play on words, hurp, derp!
• vball10set

  gotta' recoop that money they paid out for the spill cleanup--you knew they were going to get it back one way or another
• ZWICK 4 PREZ

  

  dlazz;707372 wrote:My truck has a 10000000000000 gallon tank.

  
  Short bus gas tanks are big, but not that big.
• ZWICK 4 PREZ

  

  justincredible;707419 wrote:I dunno. Mine is an 05.

  
  Mines 08 but I think from 04-08 they had a 35.7 gallon offering.. which everyone I know who has an f150 in that time span has the 35.7.