Bimmer325

Rita Could Equal $5 Gas

10 posts in this topic

cmattson    0
Hate to be crude but: Lube up and bend over guys. The oil industry wants to tenderize us some more. God forbid they forego some of their profits; especially in light of the fact that the southern US is getting hit with 2 major catastrophies within 1 month of each other. Edited by cmattson

Share this post


Link to post
Share on other sites
mustang84    12
I filled up today @ 2.59/gal...I was planning on going home this weekend since it's the only chance I have, but I don't think I will anymore if gas prices are going to get so outrageous.

Share this post


Link to post
Share on other sites
91z4me    0

Yeah, and Katrina could have been $4 a gallon.  :rolleyes:

I wouldn't get your panties in a knot until you actually SEE $5.059 for 87 up on the Shell sign.

[post="18457"]<{POST_SNAPBACK}>[/post]

Well Atlanta GA saw $5.00+ a gallon after Katrina so I think it is VERY possible elsewhere.

Share this post


Link to post
Share on other sites
bowtie_dude    0

Well Atlanta GA saw $5.00+ a gallon after Katrina so I think it is VERY possible elsewhere.

[post="18502"]<{POST_SNAPBACK}>[/post]


Atlanta saw $5 a gallon because stations were price-gouging. Gas never got above $3.09 in LEX, and it IMMEDIATELY dropped 20 cents when Gov Fletcher said he'd fine every station $5,000 a customer for gouging. Its now as low as it was pre-Katrina.

We could see another spike, but the media always likes to blow things out of proportion.

Share this post


Link to post
Share on other sites
RBB    3
It's funny - Oil company stock stock ROSE this week when it was announced that the hurricane would shut down and possibly damage refineries in Texas. -RBB

Share this post


Link to post
Share on other sites
cmattson    0
There's no question that the news companies like the hype and hysteria -- it's what sells for news nowadays. You cannot question a couple of things:

1) Their logic; oil rig repair crews are busy fixing rigs from Katrina. They won't be available to fix rigs from Rita for quite sometime. US lost about 3.5million/day barrels from Katrina. Conservative estimates are 3.0million barrels/day from Rita. Gas prices decreased because Saudi Arabia agreed to push out an addition 2.0million barrels/day. Do they have the capacity to cover for Katrina + Rita? It's questionable they can achieve the 2.0million barrels/day they spoke for now.

2) Specualtion fuels price increases. I don't like it any more than you do, but the truth is there. A large reason for the high oil prices right now is the speculation that oil production/distribution can (or will be) a target for terrorism. Oil prices are rising today over speculation about what Rita will do next week.

Share this post


Link to post
Share on other sites

Your content will need to be approved by a moderator

Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   You have pasted content with formatting.   Remove formatting

  Only 75 emoticons maximum are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.