Gas prices

[Cowperson]

Originally posted by arsenal+Aug 31 2005, 12:40 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (arsenal @ Aug 31 2005, 12:40 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-bleeds green@Aug 31 2005, 01:09 PM
A small part of the reason gas is going up might be the long weekend coming up but the big reason is all of the refinerries down in New Orleans are all closed and is driving up the price of oil, which is now over $70 a barrel I believe. Some talk that gas prices will stay high for a few weeks until things settle down in the states.

Those all do effects on the gas prices. But what happened with the refineries in New Orleans, the off-shore rigs in the Gulf of Mexico SHOULD NOT have affect on the price of gas that we pay at the pump today or tomorrow.

It will have an effect in the comming months. Anytime you see a price hike in gas prices the few days after the futures market gas price increases, is purely the oil and gas industry gouging customers.

There should be about a 2-3 month buffer from the gas futures price increase, and an increase in prices at the pumps.

What is going on right now, is just pure insanity. [/b][/quote]
I'm not defending oil companies but their side of the explanation, I think, is that gasoline is in play and being traded even as its tanked to your service station and even as its lying underground beneath a "chain" service station . . . . therefore prices are impacted immediately at the pump by external events.

I'm not sure if I believe that either but that's their side.

Cowperson

[Tron_fdc]

Originally posted by Cowperson+Aug 31 2005, 01:44 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Cowperson @ Aug 31 2005, 01:44 PM)</td></tr><tr><td id='QUOTE'>

Those all do effects on the gas prices. But what happened with the refineries in New Orleans, the off-shore rigs in the Gulf of Mexico SHOULD NOT have affect on the price of gas that we pay at the pump today or tomorrow.

It will have an effect in the comming months. Anytime you see a price hike in gas prices the few days after the futures market gas price increases, is purely the oil and gas industry gouging customers.

There should be about a 2-3 month buffer from the gas futures price increase, and an increase in prices at the pumps.

What is going on right now, is just pure insanity.

I'm not defending oil companies but their side of the explanation, I think, is that gasoline is in play and being traded even as its tanked to your service station and even as its lying underground beneath a "chain" service station . . . . therefore prices are impacted immediately at the pump by external events.

I'm not sure if I believe that either but that's their side.

Cowperson [/b][/quote]
So when prices come down for refineries, cost of fuel delivery etc, why isn't it reflected IMMEDIATELY in the price of gas at the pump? It seems like it goes up the instant their costs go up, but gets held there for weeks once the costs go down.

*shakes fist at downtown oil companies*

[arsenal]

Originally posted by Cowperson+Aug 31 2005, 01:44 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Cowperson @ Aug 31 2005, 01:44 PM)</td></tr><tr><td id='QUOTE'>

Those all do effects on the gas prices. But what happened with the refineries in New Orleans, the off-shore rigs in the Gulf of Mexico SHOULD NOT have affect on the price of gas that we pay at the pump today or tomorrow.

It will have an effect in the comming months. Anytime you see a price hike in gas prices the few days after the futures market gas price increases, is purely the oil and gas industry gouging customers.

There should be about a 2-3 month buffer from the gas futures price increase, and an increase in prices at the pumps.

What is going on right now, is just pure insanity.

I'm not defending oil companies but their side of the explanation, I think, is that gasoline is in play and being traded even as its tanked to your service station and even as its lying underground beneath a "chain" service station . . . . therefore prices are impacted immediately at the pump by external events.

I'm not sure if I believe that either but that's their side.

Cowperson [/b][/quote]
They are just trying to maximize profits on gas they have bought 60-90 days ealier by saying the gas you buy today, is in play in the futures market.

Maybe I am just jealous that I am not in the oil & gas industry, and not reaping the benifits

[Cowperson]

Originally posted by Tron_fdc@Aug 31 2005, 12:51 PM
So when prices come down for refineries, cost of fuel delivery etc, why isn't it reflected IMMEDIATELY in the price of gas at the pump? It seems like it goes up the instant their costs go up, but gets held there for weeks once the costs go down.

*shakes fist at downtown oil companies*

And therein lies the rub . . . .

Various newspapers have endeavoured to root out whether or not that statement is true or not - that prices rise fast but fall slow.

As consumers we feel that is true.

However, I can't remember if that's actually a fact via research. Google it!!!

I own some Exxon and I'm doing okay.

Cowperson

[Bertuzzied]

Originally posted by Draug+Aug 31 2005, 07:13 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Draug @ Aug 31 2005, 07:13 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Thunderball@Aug 31 2005, 06:44 PM
Maybe people should look at why gas is so much. Its freaking 40% tax. Maybe we should boycott the liberal government somehow. Without all that tax, it would be a manageable 60c a litre here.

I totally agree!

I have been trying to boycott the federal liberal government for years. Most of Western Canada has been with us. The problem is the people east of Manitoba. It is those people that need to figure out that there are other alternatives to the liberal government. [/b][/quote]
It's not like the Conservative Govn't did anything about it when they were in power. Maybe Harper and the Reform party can do a cheesy commercial about that.

[Bertuzzied]

Originally posted by Cowperson+Aug 31 2005, 08:11 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Cowperson @ Aug 31 2005, 08:11 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Tron_fdc@Aug 31 2005, 12:51 PM
So when prices come down for refineries, cost of fuel delivery etc, why isn't it reflected IMMEDIATELY in the price of gas at the pump? It seems like it goes up the instant their costs go up, but gets held there for weeks once the costs go down.

*shakes fist at downtown oil companies*

And therein lies the rub . . . .

Various newspapers have endeavoured to root out whether or not that statement is true or not - that prices rise fast but fall slow.

As consumers we feel that is true.

However, I can't remember if that's actually a fact via research. Google it!!!

I own some Exxon and I'm doing okay.

Cowperson [/b][/quote]
Thats exactly what you should do. Hedge. Buy oil/gas stocks and i'm sure you'll make more than the extra $15-$20 more you are paying at the pump.

[Eagle Eye]

Originally posted by Tron_fdc@Aug 31 2005, 12:51 PM

*shakes fist at downtown oil companies*

Actually most oil and gas companies downtown have nothing to do with the price of Gasoline.

Gas prices are supply demand related just as most other products are. The only thing is that it looks like they tend to guess when supplies are going to be low (long weekend, etc), but over the last few long weekends the price really hasn't gone up much.

There will be an impact on supply becuase of the hurricane, and it looks like they are predicting this (obviously it wouldn't actually cause the price to spike when you already had the gasoline in the ground). This is definitly a touchy subject.

I actually think that in the long run having higher gas prices will benefit everyone, because it is going to cause people/companies to be more efficent, and hopefully some sort of alternative energy sources will become available.

Hopefully some of that makes sense.

[Tron_fdc]

Originally posted by Eagle Eye+Aug 31 2005, 02:20 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Eagle Eye @ Aug 31 2005, 02:20 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Tron_fdc@Aug 31 2005, 12:51 PM

*shakes fist at downtown oil companies*

Actually most oil and gas companies downtown have nothing to do with the price of Gasoline.

Gas prices are supply demand related just as most other products are. The only thing is that it looks like they tend to guess when supplies are going to be low (long weekend, etc), but over the last few long weekends the price really hasn't gone up much.

There will be an impact on supply becuase of the hurricane, and it looks like they are predicting this (obviously it wouldn't actually cause the price to spike when you already had the gasoline in the ground). This is definitly a touchy subject.

I actually think that in the long run having higher gas prices will benefit everyone, because it is going to cause people/companies to be more efficent, and hopefully some sort of alternative energy sources will become available.

Hopefully some of that makes sense. [/b][/quote]
Hey, who do you think you are depriving me of a scapegoat?

*shakes fist at Eagle Eye*

Watch it, I might have to start wagging my finger.

[Eagle Eye]

Originally posted by Tron_fdc@Aug 31 2005, 01:37 PM

Hey, who do you think you are depriving me of a scapegoat?

*shakes fist at Eagle Eye*

Watch it, I might have to start wagging my finger.

haha sorry, and ya I think I will have to pass on the finger wagging (not my kind of thing) :P

[Terracide]

In Edmonton most of the gas is $1.01 a litre, some are below that and a few ######s are $1.20+

[Bertuzzied]

Originally posted by Terracide@Aug 31 2005, 08:47 PM
In Edmonton most of the gas is $1.01 a litre, some are below that and a few ######s are $1.20+

I guess those $1.20/litre stations are close to the Oiler players houses? hehehe sorry.

[Sylvanfan]

Yeah, I just refueled my car at 98.9 a litre today, but prices will go up later today. I did manage to go 4 weeks between fill ups though whereas I used to be 2 1/2 weeks between fill ups.

Time to come to grips with it, but we will be paying $1.50 a litre in Alberta by the end of the year for gas. What irks me is that there is going to be a trickle down effect where food, basic house hold supplies, natural gas.....basically everything I consume goes up in price due to increased shipping costs. Of course in order for others to maintain their lifestyle they're going to try and force me to take the paycut.....Now I have to get creative and think of a way to fight back and maintain my standard of living. Maybe I'll go try and get on with an oil company in some capacity. I mean if I was a PERFECT HUMAN BEING LIKE HAKAN I would be able to live and not consume a god damn thing so this would have no impact on my life. I really wish I was like that, but I am merely mortal and need things like food to continue living...

[Draug]

Originally posted by Eagle Eye@Aug 31 2005, 08:20 PM
Gas prices are supply demand related just as most other products are. The only thing is that it looks like they tend to guess when supplies are going to be low (long weekend, etc), but over the last few long weekends the price really hasn't gone up much.

You think? I dont agree. I dont think gasoline prices are really supply and demand.

The supply is regulated.

The demand is largely constant because gasoline is too critical and essential to most people. To live in rural Alberta, or almost anywhere in Canada (but maybe Toronto and Vancouver), a personal vehicle that consumes gasoline is essential. If something is essential, a person will buy it no matter the costs. I think that is what happens with gasoline.

For supply and demand principles to have much effect, both the supply and demand must be fluid and work together; I dont think that is the case with gasoline.

[Bobblehead]

I've tried to get to CalgaryGasPrices.com a few times today and was only successful once. Otherwise it says "Server too busy"

[Draug]

Originally posted by Sylvanfan@Aug 31 2005, 08:51 PM
Time to come to grips with it, but we will be paying $1.50 a litre in Alberta by the end of the year for gas. What irks me is that there is going to be a trickle down effect where food, basic house hold supplies, natural gas.....basically everything I consume goes up in price due to increased shipping costs. Of course in order for others to maintain their lifestyle they're going to try and force me to take the paycut.....

I have been thinking about this also.

If oil prices stay at $70+ per barrel, and dont come down, huge increases in my cost of living will occur. Think about it; its not only the gasoline, but everything - my ziplock bags cost more, cd's cost more, anything that contains plastics costs way more. Heating my home will cost more, and heck, even my Flames tickets will cost more because it costs more to maintain the Dome, and to fly the Flames all over the continent. Man, even a bus pass will double in price because it costs twice as much to drive the actual bus.

I've just guessed, but with my household income of ~$75K, I am thinking my yearly costs could go up as much as $10K over the next two years if oil prices dont come back down. Yikes.

[Patek23]

I remember when people used to complain when it was 79 cents a litre, now your lucky if you can find it under a buck.

[Claeren]

I hope interest rates sky-rocket....

Would create a great time to buy, i am sick of trying to find a well priced place... :P


Claeren.

[Hakan]

*wishing he could bump the peak oil thread*

[Sylvanfan]

Originally posted by fotze@Aug 31 2005, 09:20 PM
How many of you who are non-student types, have walked or biked instead of driven lately, I'm sure a few, but I would bet pretty much no one. I sure haven't thought twice about driving. It is still dirt cheap compared to pretty much everywhere and everything in the world.

I have biked to work a few more days lately. I have intentionally not taken trips to the grocery store I would normally take to get a couple things, but saved them for when I had to go somewhere with my vehichle next.

I'm a complainer by nature.....but my house isn't covered with water or anything today, so really I don't have a good reason to complain about the price of gas. I actually should be quite happy with how things are all considered. Still I do feel like I should do my part to minimize the consumption of the resource.

[Bertuzzied]

Originally posted by fotze@Aug 31 2005, 09:20 PM
How many of you who are non-student types, have walked or biked instead of driven lately, I'm sure a few, but I would bet pretty much no one. I sure haven't thought twice about driving. It is still dirt cheap compared to pretty much everywhere and everything in the world.

How about $1.90us/litre in Hong Kong, which is roughly around $2.20/litre!!
Of course if you own a car in HK you are pretty rich. It costs $1500/month just to rent your home parking spot.