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ummm... what?

cletus8269

By cletus8269
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CARBIZ Newbie

CARBIZ

Posted
Posted

Oil peaked at $147 a barrel in mid-July. Last week it was trading around $103. We were paying $1.36 a litre (about $5.50 of your gallons) in mid-July. Oil at the barrel-head has dropped 43% (147 to 103), yet last week we were paying $1.23 a litre ( a drop of 11%, according to my math) WTF? Oil spokespersons declared that the drop at the barrel-head was for 'October futures,' which takes time to filter through the supply line.

YEAH, THEN WHY THE F$%K DID GAS JUST SHOOT BACK UP TO 1.36 OVER NIGHT BECAUSE OF HURRICANE IKE? Wouldn't it take a month or so to makes its way through the 'supply-lines?'

There is some serious $h! happening here and somebody has to put some people in jail over this. I'm all for the free-market and all, but there is definitely some price fixing going on here. I am sick of this.

By my math, we should be paying about a $1 a litre.

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thegriffon Newbie

thegriffon

Posted
Posted

It's the same in Australia, although taxes inflate the price. Motoring organisations (the equivalent of AAA) are perpetually screaming for the government to lock someone up about it, but nothing effective is ever done. Consider yourselves lucky the US has many more refiners supplying fuel and growing biofuel supplies or it would be even worse. Yet another reason to buy a Volt, just to — the bastards.

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Sixty8panther Newbie

Sixty8panther

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I know everyone wants to hate on them, but the panicky masses make it way too easy for the oil companies to pull this kind of crap.

Exactly, just like every panicked jackass who (here in New England)

runs to the supermarket to buy 12 gallons of water & a bunch of

canned food when it is reported that we will get 4" of snow.

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knightfan26917

knightfan26917

Posted
Posted
I know everyone wants to hate on them, but the panicky masses make it way too easy for the oil companies to pull this kind of crap.

True.

But, I always find it irritating that when something bad happens, gas prices shoot up within seconds...or in anticipation of the event.

Yet, when something GOOD happens, it takes days/weeks for the gas prices to follow suit....

*shakes head*

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vonVeezelsnider Newbie

vonVeezelsnider

Posted
Posted
There is some serious $h! happening here and somebody has to put some people in jail over this. I'm all for the free-market and all, but there is definitely some price fixing going on here. I am sick of this.

By my math, we should be paying about a $1 a litre.

Here Here!

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loki

loki

Posted
Posted
The conversion posted earlier is not quite correct.

Current Toronto prices are around 1.36, here's the conversion that Google gave me, which is right when I double-check it.

1.36 (Canadian dollars / l) = 4.83531664 U.S. dollars / gal

Search I used was: "1.36 cad/l to usd/gal"

if it's kept cad it's about 5.16 ? price x 3.8L/gal

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FUTURE_OF_GM Newbie

FUTURE_OF_GM

Posted
Posted (edited)

The problem here (In NC) is that we're supposedly 'Running out" of gas. The convenience store f*ckers are saying that they are spiking prices to keep cadence with each other so that they don't 'get rushed' and run out of fuel faster.

Here in Charlotte it's anywhere from $3.89 to $4.29 But back home in Asheville it went crazy... Anywhere from $4.75 to over $6 in remote locations.

It's nothing but robbery. Did anyone see the report the other day about our government people sleeping with (literally) and 'drugin' it up' with the big oil reps?!?!

If any of our politicians had any balls, they'd put a stop to it. But, the days of america actually being ran by americans (instead of big business and scumbag lawyers) are over. Maybe we can take that $101/barrel oil and burn the place faster.

From Gematria (The Killing Name) by Slipknot:

"Feed the Hungry - Feed them $h!.

Feed them BONES and POLITICS.

You wanna revolutionize?

Be specific and believe your eyes.

Start a war in another backyard.

And we'll destroy your house of cards.

Give me a minute and I'll change your mind.

Give me a bullet and I'll change your life!

AMERICA IS A KILLING NAME.

IT DOESN'T FEEL OR DISCRIMINATE.

LIFE IS JUST A KILLING FIELD.

IT'S ALL THAT'S LEFT - NOTHING'S REAL.

THROW AWAY YOUR DISPOSABLE PAST.

AND FALL APART LIKE A CIGARETTE ASH.

WE ARE THE FATAL AND VITAL ONES OF THE WORLD.

AND WE WILL BURN YOUR CITIES DOWN."

Edited by FUTURE_OF_GM
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Paolino Apprentice

Paolino

Posted
Posted
Oil is down almost $6 right now to 95 and change a barrel. Doesn't seem like the end of the world just yet....

Funny, cause the gas went up another dime by me. It's now $4.09 for regular.

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Blake Noble Newbie

Blake Noble

Posted
Posted (edited)
Oil is down almost $6 right now to 95 and change a barrel.

See, herein lies the problem: a barrel of oil is costing less and less but actual gas prices are costing more and more. There is no logic here. If this isn't a textbook example of being metaphorically raped with both eyes wide open, I'm not sure what is.

Edited by YellowJacket894
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Drew Dowdell Grand Master

Drew Dowdell

Posted
Posted
See, herein lies the problem: a barrel of oil is costing less and less but actual gas prices are costing more and more. There is no logic here. If this isn't a textbook example of being metaphorically raped with both eyes wide open, I'm not sure what is.

It's worse than that. The wholesale cost of gasoline has been dropping also. RBOB Gasoline is down to $2.56 a gallon.

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Lamar Newbie

Lamar

Posted
Posted
See, herein lies the problem: a barrel of oil is costing less and less but actual gas prices are costing more and more. There is no logic here. If this isn't a textbook example of being metaphorically raped with both eyes wide open, I'm not sure what is.

I'm guessing the effects of the hurricane have more to do with gas prices going up than the actual cost of oil.

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Drew Dowdell Grand Master

Drew Dowdell

Posted
Posted
I'm guessing the effects of the hurricane have more to do with gas prices going up than the actual cost of oil.

Wholesale gas prices are down.... way down.

Edit: As of now, wholesale gasoline is at $2.4538 a gallon. Again, add 45 cents to the wholesale cost and you'll get the approximate cost at the pump. We should be seeing sub-$3.00 gas soon.

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Lamar Newbie

Lamar

Posted
Posted
What effects? We get very little oil out of the Gulf Coast. Those refineries being shut down barely amount to a drop in the bucket.

All I remember is that after Katrina, gas prices first spiked.

Not saying it's right or justifiable, but it happens.

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PONTIAC06 Newbie

PONTIAC06

Posted
Posted

One more reason I love living in Wyoming, I paid a record low of about 53 dollars to fill up my Jeep this weekend...gas has dropped from the 3.9X range down to the 3.3X and 3.4X range at any decent gas station...and the rest of them are still up between 3.69 and 3.89

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