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Thread: Gas Prices Skyrocket

  1. #1
    C-A-T-S CATS! CATS! CATS! WVRed's Avatar
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    Gas Prices Skyrocket

    Figured I would give this its own thread, but gas here in Vienna is up to 3+ a gallon. Some places havent raised, and people are backed up. Thank God I got mine at Speedway last night before the prices raised.
    Quote Originally Posted by savafan View Post
    I've read books about sparkling vampires who walk around in the daylight that were written better than a John Fay article.

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    For a Level Playing Field RedFanAlways1966's Avatar
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    Re: Gas Prices Skyrocket

    I wonder...

    What percentage increase in gasoline prices were seen in 1969 after Hurricane Camille?

    Sure perhaps demand in its relevance to supply is different today. But still...

    And why are gasoline prices in WV over $3.00/galllon today while here in the Dayton, OH area they are at $2.59/gallon (unchanged from yesterday)?

    Just makes me wonder. Hate to see fuel companies look like those looters that have been seen after this storm. To profit (or make a greater profit) from a tragedy is about as low as you can go in my book.
    Small market fan... always hoping, but never expecting.

  4. #3
    RZ Chamber of Commerce Unassisted's Avatar
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    Re: Gas Prices Skyrocket

    Posted this in the hurricane thread, but it's more relevant here. A gas station owner here said in a radio interview this morning that he would be raising the price to $3.25/gallon today to match the wholesale price increase he is seeing.
    /r/reds

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    Member Reds Fanatic's Avatar
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    Re: Gas Prices Skyrocket

    In the Dayton area pretty much every station is now $3.09 for regular unleaded.

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    For a Level Playing Field RedFanAlways1966's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Reds Fanatic
    In the Dayton area pretty much every station is now $3.09 for regular unleaded.
    Holy... good thing I filled up this morning at $2.59/gallon!
    Small market fan... always hoping, but never expecting.

  7. #6
    Titanic Struggles Caveat Emperor's Avatar
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    Re: Gas Prices Skyrocket

    This is unbelievable...

    I've long since passed the point of caring WHY gsa is so expensive and moved into exasperation that the might and power of the United States cannot do SOMETHING to make this situation better.

    Republicans and democrats alike should be outraged with the indifference their government has shown to the plight of average people who depend on their cars for their livelihoods.
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  8. #7
    C-A-T-S CATS! CATS! CATS! WVRed's Avatar
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    Re: Gas Prices Skyrocket

    http://money.cnn.com/2005/08/31/news...ex.htm?cnn=yes

    Experts: $4 a gallon gas coming soon
    Pricing analysts say consumers can expect even higher prices at the pump.
    August 31, 2005: 12:46 PM EDT
    By Grace Wong, CNN/Money staff writer


    Special Report full coverage


    Oil retreats under $70

    $4 gasoline coming

    White House to tap reserves

    Gas gripes: readers speak up






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    QUICK VOTE
    Will the release of oil from the nations's strategic reserve affect gasoline prices?
    Push them lower
    Higher regardless
    Too early to say


    View results


    Video More video


    With gas prices climbing, CNN/Money's Allen Wastler shows you how to stretch your dollars at the pump. (August 31)
    Play video




    Video More video


    Energy Secretary Samuel Bodman says the U.S. will release oil from the nation's Strategic Petroleum Reserve to help refiners hurt by Katrina. (August 31)
    Play video




    NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

    "There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

    OPIS tracks wholesale and retail oil prices and provides pricing information for AAA's daily reports on fuel prices.

    Brockwell said with gasoline prices now exceeding $3 a gallon before even reaching the wholesale level, it "doesn't take a genius" to expect retail prices to hit $4 a gallon soon.

    "Consumers haven't seen the worst of it yet," Brockwell said.

    He expects consumers in the Southeast and Northeast to be pinched first, following the impact of Hurricane Katrina on the Gulf Coast region.

    Katrina pressures gas supplies
    Katrina forced operators to close more than a tenth of the country's refining capacity and a quarter of its oil production, which sent gasoline prices surging.

    Two major pipelines that supply gasoline to key terminals and distribution centers along the Eastern U.S. were shut down due to power outages caused by the storm. (Video of Energy Secretary Samuel Bodman discussing U.S. plans to tap strategic oil reserve to help refiners -- 4:16. Click here to watch).

    Colonial Pipeline said it hopes to be back in partial operation soon, while the date of Plantation Pipeline's restart is not clear. Each day the pipelines are closed, supplies get backlogged and distribution centers must rely on reserves.

    "With this kind of hiccup in refinery capacity, in stretched markets like California, you could see over $4 a gallon in gas," Evan Smith, an analyst at U.S. Global Investors, told CNN/Money.

    While it's still too early to fully assess the damage caused by Katrina, efforts to build up inventories of crude oil, natural gas and other products like gasoline will be set back by the storm, according to Nariman Behravesh, chief economist at Global Insight.

    In a research note, Behravesh laid out a worst-case scenario that puts average prices for regular unleaded gasoline at about $3.50 a gallon for the next four to six months.

    "The impact on consumer spending in such a scenario would be very dramatic, cutting the growth rate by as much as 3 percent and pushing real GDP growth in the fourth quarter closer to zero," he wrote.

    In a best-case scenario, he forecast retail pump prices to peak at $3 a gallon for a couple of months, but then fall back to around $2.50 by year-end.

    The nationwide average price for a gallon of regular unleaded hit a fresh high of $2.619 Wednesday, according to AAA, the largest U.S. motorist organization, formerly known as the American Automobile Association.

    Average gasoline prices have gained 40 percent in the last year.

    Prices for crude oil are also up sharply and are currently hovering near record highs just under $70 a barrel.
    Quote Originally Posted by savafan View Post
    I've read books about sparkling vampires who walk around in the daylight that were written better than a John Fay article.

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    Re: Gas Prices Skyrocket

    this site is usually worthwhile for finding cheaper prices in the Dayton area:

    www.daytongasprices.com

    It's reliant upon consumers posting prices they see, but I use it all the time to try and find the cheapest station near where I work or live. Today, though, this site has been up and down, probably because prices skyrocketing. Today is the first time I've ever had any trouble accessing the site though.

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    C-A-T-S CATS! CATS! CATS! WVRed's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Caseyfan21
    this site is usually worthwhile for finding cheaper prices in the Dayton area:

    www.daytongasprices.com

    It's reliant upon consumers posting prices they see, but I use it all the time to try and find the cheapest station near where I work or live. Today, though, this site has been up and down, probably because prices skyrocketing. Today is the first time I've ever had any trouble accessing the site though.
    You can use that website for anywhere, just type in the location. I use it all the time.
    Quote Originally Posted by savafan View Post
    I've read books about sparkling vampires who walk around in the daylight that were written better than a John Fay article.

  11. #10
    Member TeamCasey's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by RedFanAlways1966
    Holy... good thing I filled up this morning at $2.59/gallon!
    I didn't and I knew I should've.
    Pots and Kettles

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    Re: Gas Prices Skyrocket

    A good friend of mine runs a station here in town and he said don't even worry about $3.00. $4.00 and $5.00 is what you need to be worried about.....soon.
    "Strickland Propane... Taste the meat, not the heat." - Hank Hill

  13. #12
    Titanic Struggles Caveat Emperor's Avatar
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    Re: Gas Prices Skyrocket

    So, did anyone else watch the FX mini-series "Oil Storm" this summer...?

    This is almost creepy.
    Championships Matter.
    23 Years and Counting...

  14. #13
    This one's for you Edd Heath's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by Caveat Emperor
    So, did anyone else watch the FX mini-series "Oil Storm" this summer...?

    This is almost creepy.
    I love Hollywood. Not.

    Hey, here's a simple thing. Don't buy gas. Carpool. Watch your driving habits.

    Will prices go up, probably - someone (media related) would cause a crisis.
    Some people play baseball. Baseball plays Jay Bruce.

  15. #14
    C-A-T-S CATS! CATS! CATS! WVRed's Avatar
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    Re: Gas Prices Skyrocket

    Quote Originally Posted by RedFanAlways1966
    Holy... good thing I filled up this morning at $2.59/gallon!
    I got mine at 2.59/gallon here as well, same station went up to 3.09 today.
    Quote Originally Posted by savafan View Post
    I've read books about sparkling vampires who walk around in the daylight that were written better than a John Fay article.

  16. #15
    Maple SERP savafan's Avatar
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    Re: Gas Prices Skyrocket

    http://www.drudgereport.com/flash4be.htm

    President Bush is considering an address to the nation asking citizens to conserve energy, a top White House source says.

    Bush ordered the release of oil from federal petroleum reserves to help refiners affected by Hurricane Katrina.

    Bush returned to Washington on Wednesday to oversee the federal response to the historic disaster. He plans to coordinate federal efforts, across more than a dozen agencies, to assist hurricane victims.

    "Still undecided is whether or not to call for a nationwide effort to reduce energy consumption during this emergency," a top Bush source explains. "It is seriously being considered."

    A second White House source says there are no plans for the president to address the country on gas.

    Developing...
    My dad got to enjoy 3 Reds World Championships by the time he was my age. So far, I've only gotten to enjoy one. Step it up Redlegs!


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