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Gas prices ? What caused the 20 cent increase in 1 day?

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Gas prices ? What caused the 20 cent increase in 1 day?

Old 01-15-2019, 11:42 AM
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The trading price for crude went up. The media reports it. The stations realize they can up the price and blame it on bad news that has already been circulated. Gas prices have sticky pricing in economic terms. They come down much slower than they go up. In small markets the dealers fell each other when they change prices and within an hour all are at the new price.
Old 01-15-2019, 11:43 AM
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Originally Posted by vincentdivincenzo View Post
Sorry,rip.I know my crane trucks a te $1200 a week in diesel,plus gas for generators
Trust me, knew that felling all too well but not quite as much as you we having to shell out.

The $400-$500 figure was only for my personal diesel truck and that was local.
Other equipment & toys not included.

After that anal probe I haven’t complained about fuel prices since.

Old 01-15-2019, 12:07 PM
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$200,000 for an outfitted center console boat big enough to take us and our friends offshore in both comfort and speed, no problem.

20 cents per gallon increase in gasoline? OMG, how can we ever pay for it?????
Old 01-15-2019, 12:28 PM
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Speculators, and supply and demand.
Old 01-15-2019, 01:25 PM
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Originally Posted by Captainbadfinger View Post
And then you woke up!!!
error...$2.10
Old 01-15-2019, 01:41 PM
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Originally Posted by signmansez View Post
price of oil is up 13% in January.
Sorry to say we need oil to be in the $60+ range to keep the USA in the black. Jobs, oil company profits, etc. all depend on this number.
Buy a gasoline ETF if you want a piece of the action.
I know that is a common refrain but I disagree. To believe that would put the profitability of the oil industry above the finances of every single person on this planet who purchases fuel. Oil goes up, great for the oil industry and no one else. Oil goes down, gas goes down, good for most of the planet.
Old 01-15-2019, 01:43 PM
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Originally Posted by jbdba01 View Post
Speculators, and supply and demand.
REALLY disagree with this. Has little to do with supply and demand and more to do with market manipulation and locally, the ability to do what they want with prices. No one will stay at $1.93 for example, if the rest of the city goes to $2.19. I'm sorry but it is too convenient when all gas stations go up almost the exact same amount to the exact same price within an hour of each other.
Old 01-15-2019, 01:48 PM
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Oil should be a strategic resource anyway...not a commodity.
Old 01-15-2019, 02:16 PM
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Originally Posted by listingfast View Post
Oil should be a strategic resource anyway...not a commodity.
Like Venezuela? Great idea!

I'm very happy it is a commodity. A cheap one at that, even with all the taxes.
Old 01-15-2019, 02:39 PM
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Just an observation but I seldom see posts asking why the price of fuel has dropped.
Old 01-15-2019, 03:16 PM
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speculators are the ones that control the price, they buy way ahead
Old 01-15-2019, 04:35 PM
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Originally Posted by SeaPro48 View Post
Please explain why we need $+60 dollar oil, and why I care about oil company profits. I'm not arguing, I really want to know.
Well , do you own any oil stocks? If so, you would probably wish they were profitable.. If you don't own any directly, perhaps you own some thru some ETFs or Mutual Funds? Maybe in a 401K, IRA or similar? The funds/ETF probably own oil stocks and again, you want them profitable I assume?
Old 01-15-2019, 05:45 PM
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Originally Posted by Boataholic View Post
Well , do you own any oil stocks? If so, you would probably wish they were profitable.. If you don't own any directly, perhaps you own some thru some ETFs or Mutual Funds? Maybe in a 401K, IRA or similar? The funds/ETF probably own oil stocks and again, you want them profitable I assume?
The real reason many oppose green...
Old 01-15-2019, 06:13 PM
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The price of oil, cost of refining and taxes have little to do with the cost at the pump....

the cost at the pump is mainly driven by “market forces” ie, they charge what they think you will pay.
they know that almost nobody can last long without buying- that helps their decision on base prices, then, in times of lower demand, they discount to entice buying, and in times of heavy demand they gouge because they can. Eg, price almost always goes up just before a holiday.
Old 01-16-2019, 07:21 AM
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Originally Posted by SeaPro48 View Post
Please explain why we need $+60 dollar oil, and why I care about oil company profits. I'm not arguing, I really want to know.
The oil related industries directly employ around 10,000,000 people in the US. It is over 8% of our GDP.

Now if you consider the auto industry as being directly linked to to the oil industry then add another 2 -3 million workers along with another 3% of GDP.

That's a lot of mouths to feed from crude and natural gas coming out of the ground.

Higher oil company profits, whether you like it or not, spurs more economic developement. The cost of exploration, drilling, pumping and delivering oil from the US is exponentially higher than it is in the rest of the world due to cost of doing business here in the US.

I don't like higher gas prices anymore than the next guy, but I have a financial portfolio that holds many oil and natural gas related companies so I don't mind paying.

If you want to hedge the higher fuel prices pick up the phone and buy some stock in an oil company!

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