Gas / Diesel prices?

[TW]

My gosh, those fuel prices don't come down........

The world oil price dropped like hell, but the price at the pump just does not follow as fast. But when the price goes up, those pumps get changed within an hour
We just can't stop driving and the oil bosses know that of course.

[cb5300]

Quote:

Originally Posted by TW My gosh, those fuel prices don't come down........ The world oil price dropped like hell, but the price at the pump just does not follow as fast. But when the price goes up, those pumps get changed within an hour We just can't stop driving and the oil bosses know that of course.

Can you spell G-R-E-E-D!!!!

[traveler of california]

We are currently in Louisiana and I have seen gasoline prices drop at least 10 cents in the last week. While planning the next leg of our journey I saw diesel prices at my next fuel stop drop 4 cents in one day. It always takes a few days for the pump price to adjust to the current market price for oil.

Nick

[Iron Man]

Ours went up 2 cents last week. We are at 3.77 for gas.

[bucks2]

I read one of the politicians today explain that fuel prices had dropped 30-40 cents per gallon in the last 3 weeks. I'm out on an extended boat trip, so I haven't been able to really see that at the pump since I carry more fuel in the boat than I can burn in a summer. You're saying only 10 cents? Politicians wouldn't lie to me, would they? It was one of his proofs that the economy was getting better.

Ken

[Steve N Sal]

I'll have to watch where this thread goes. I posted a thread on another rv forum about the same topic and just was brushed over the coals. I guess I should have known better as to post there. One question I was asked, is whether I expected the fuel to be free??? I never even remember mentioning anything about free gas. One thing I don't really understand though is why the diesel prices have not come down at all. At least in the area of upper MI that we're in now. I don't have a diesel but these travelers are all in the same community and should get a reflection on what they have to pay to travel as well. Just don't understand this oil market as all and yes G R E E D is the biggest culprit as far as I can tell.

[traveler of california]

The problem is not with the oil companies, it is with a govt controlled by the green lobby that refuses to allow drilling, exploration, etc. Couple that with increase fuel taxes in most states and you have the problem we all face. It may be greed, but it is govt greed.

Nick

[mccsix]

Up like a rock, down like a feather. Our elected reps don't have a clue as to the real impact of continued high gas prices on the economy and jobs. They keep to that old tired saw about the stock market (legalized gambling) and European markets.
If gas dropped back to 1.90 gal you would see everything turn around...housing, jobs and the market....just my .02.

[randco]

The biggest problem with the oil market is that it is traded on Wall St. Blame the speculators.

[ronspradley]

One of the major reasons fuel prices rise easily but drop kicking and screaming is that the U.S. dollar is not worth two sou. Can you spell D-E-B-T... We owe, we owe, it's off to the poor house we go...........ronspradley

[mavric65]

Quote:

Originally Posted by mccsix Up like a rock, down like a feather. Our elected reps don't have a clue as to the real impact of continued high gas prices on the economy and jobs. They keep to that old tired saw about the stock market (legalized gambling) and European markets. If gas dropped back to 1.90 gal you would see everything turn around...housing, jobs and the market....just my .02.

i totally agree with this when oil is up everything cost more when its down more money out there to spend on other things its not rocket science but political figures don't care IMHO because the lobbyist from the oil industry keep handing them money. The politicians only have their best interest in mind and not the people that voted them in or our country... Just my .02 cents worth here

[SPICoaster]

Retail fuel prices are suppose to be driven up or down by the market where the station is located. This worked well when fuel prices were less than $2 a gallon, especially in larger markets (Dallas, Austin, Houston, etc.). However when fuel shot up in price a couple of years ago the herd of owners shrank even though the number of locations selling fuel stayed the same or slightly went up. Many a smaller operator with between 3 and 15 locations couldn't get bank financing for their fuel inventories so they were selling out (and still are) to others that have more locations and can get the financing (normal inventories run between 18,000 and 30,000 gallons per location).

Here in Temple, TX there are 2 major local station owners (who are also wholesalers) and they are consistently 10 to as much as 22 cents more than national players such as Valero. Interestingly enough there are a number of 1 and 2 store owners here that get their fuel from these local wholersalers, and are selling for the same as the national players. Of course when you get into smaller communities you're stuck with paying what these local players are getting (unless of course you drive 20-30 miles).

There is an organization for convenience store operators named NACS (search for them on the web) and depending on what is going on in the market place, will either state that their members should be able to sell fuel for what it will cost them to replace it (wholesale prices are going up so we get to pay more at the pump) or they'll state that their members should be able to sell the fuel for what it cost them (even though wholesale prices are falling and thus the reason prices don't fall as fast at the pump).

Another big push by the NACS group was with congress to pass (which they did) a bill limiting how much bank card issurer companies can charge for credit/debit card transaction interchange fees (to be managed by the federal reserve no less). Of course NACS claims its members will pass this savings along to the consumer. I'm not holding my breath and I'm sure if it's reviewed a year after it's put in place we'll see the savings was passed through to the C-Store owners bottom line.

BTW - fuel should be treated like other commodities (corn, cotton, rice, etc.) when being traded. When your trade comes due you (or who ever bought your ticket) need to have ample storage for it some place. And just like corn, wheat, etc. if you don't have available storage then you can't purchase it in the first place. This would keep the speculators out of the fuel commodities trading and the price would fall and then stablize.

[Billieg]

Quote:

Originally Posted by SPICoaster BTW - fuel should be treated like other commodities (corn, cotton, rice, etc.) when being traded. When your trade comes due you (or who ever bought your ticket) need to have ample storage for it some place. And just like corn, wheat, etc. if you don't have available storage then you can't purchase it in the first place. This would keep the speculators out of the fuel commodities trading and the price would fall and then stablize.

2X on that. I'd like to see some NY trader take delivery on 50,000 barrels of oil...... and try to get rid of it

[mrschwarz]

x3 for me.