Gas Price Increases

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Neutron

Neutron

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What's the deal with the increasing gas prices?? I read that its because the US is low on inventory. What happened to the Stretigic Oil Reserves that we have?? Why cant tap into that until the inventories go back u[?
 
mike123abc

mike123abc

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Actually that is part of the problem, the US has been building up the Strategic Oil Reserve. They are going from around 750million to a billion or so barrels.

There are many factors I have seen reported:

1. Declining Dollar. Oil prices are in dollars, so as the dollar declines OPEC wants more dollars to maintain their buying power.

2. World coming out of recession driving up demand

3. New EPA regulations (Big one here). US regulations are getting so tight that other countries do not bother trying to meet them so we cannot import refined gasoline. US refiners are not adding capacity since it is getting impossible to do with regulations.

So, we have increased global demand for the raw product, our currency is devaluing driving up the price of the raw product... this combined with the ever increasing clean air regulations for producing gasoline, has resulted in a double squeeze on the price/supply in the US.
 
silversurfer

silversurfer

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Hmmm geee, maybe its time the American public quit driving gas guzzling SUVs and switch to alternate fuel vehicles.....
 
Neutron

Neutron

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If they weren't so expensive I could see doing it. I drive a Toyota Corolla for the gas mileage as it is.
 
TNGTony

TNGTony

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One factor not mentiened above is that today's gasoline prices are directly linked to the oil futures prices in the market. When OPEC was discussing cutting production the futures price jumped some 20%-30%. That is why a month ago prices jumped from $1.20 or so to $1.65 here. I have no idea where the prices are in this area today. I live 10 min away from work (and everything else is similarly close) so I only fill up my gas-guzzling jeep once every two or three weeks.

See ya
Tony
 
dfergie

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I live about 45 miles from a gas refinery... but all that gas goes to california, and we get ours from texas.... go figure. btw filled up 2 of my trucks a couple of hours ago at 1.65 a gallon for regular unleaded ( about 34 gallons total)
 
Stargazer

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Perhaps something like this is what is needed to get the car manufacturers to come out with alternative powered cars even quicker.

Gas here is $1.73-$1.79 for regular 87 unleaded here.
 
Neutron

Neutron

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Thats about what gas prices are here in my area. Thank God I drive a Corolla.
 
dfergie

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Stargazer said:
Perhaps something like this is what is needed to get the car manufacturers to come out with alternative powered cars even quicker.

Gas here is $1.73-$1.79 for regular 87 unleaded here.
this might be a good topic for a new thread... gas prices where you live, maybe even flameworthy
 
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rang1995

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the oil supply is day to day..a waterway in Fla is closed and oil cant get thru,therefore a shortage..there is OIL just goes to the highest bidder(europe) or what states pay more..just the supply is on a shoestring not to good!
 
silversurfer

silversurfer

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If there is no demand for alternative powered cars then of course the price is going to be high. Most of the American public chooses to drive inefficient SUVs and until that trend changes gas prices will continue to climb and alternative powered cars will only be something you see at technology shows...
 
bcshields

bcshields

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gas prices in Europe are about 2x the cost of a gallon here (taking metric and currency in account) The Gov'ts over there tax the heck out of it because of their environmental standards. Doing so causes their manufacturers to be more efficient. I had a cab driver in England tell me he got 60 kilometers to the liter. Don't know if that's off the mark.. I was getting a ride home from a pub after a couple pints...
 
bryan92

bryan92

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$1.58 in Statesboro, Ga. We never seem to see the prices like other parts of the country. I dont know why but I am happy I dont.
 
TNGTony

TNGTony

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bcshields said:
I had a cab driver in England tell me he got 60 kilometers to the liter. Don't know if that's off the mark.. I was getting a ride home from a pub after a couple pints...

I don't beleive it. That's 140.7 Miles to the gallon! Unless this cabbie coasts downhill and pedals up hill with a lawn-mower engin assist, or you were in a ricshaw either he's exagerating, you are misremembering or I'm in need of a remedial math class and a few sessions of Electric Company and Metric Man!

60 km = ~36.6 miles (1km = ~ 0.61Mi)
1 liter = ~0.26 Gal. US

36.6/.26 = 140.7 / 1 In short....NO FRIGGIN WAY!

Not even hybrid electric cars get that sort of milage

See ya
Tony
 
mike123abc

mike123abc

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It probably was not a liter but an imperial gallon, slightly larger than our gallon.
 
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Mr Tony

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UGH!

Here it went from 1.58 yesterday morning to 1.79 by lunchtime yesterday

It does it every week.....slowly goes down during the week, and on Thursday it jumps..slowly goes down..then Thursday it jumps again.

What sucks is I have to drive 35 miles one way to work..fill the ol truck up twice a week.
 
bcshields

bcshields

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mike123abc said:
It probably was not a liter but an imperial gallon, slightly larger than our gallon.

That might be, like I said, I had a few pints... He could have said it was powered by a flux capacitor and I would have been impressed.
 
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