Gas up ASAP.
CaptHenway
Posts: 32,151 ✭✭✭✭✭
The gouging due to the new war in Iraq has already begun.
Maybe gold will go up too? (just to keep this on topic)
Maybe gold will go up too? (just to keep this on topic)
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>The gouging due to the new war in Iraq has already begun.
Maybe gold will go up too? (just to keep this on topic) >>
How much of a jump have you endured.
I guess I will find out later today when filling up.
"gouging" is the right word ...........
Knowledge is the enemy of fear
It's all about supply and demand...and a little bit of gouging, but not as much as you might think.
If people are buying it more because they think we're going to war, is the demand not higher? It is, so that means more can be charged, just like it would be if it was anything else (except Metals of course
The product being bought (whatever it might be) doesn't care why, it has no feelings, but the people who supply it take note and say, hey we have less now than we did last week and it's now costing more to make DAILY, so let's charge more.
Reasons why: Combine this "war effect" with it's Summer gas which costs more because of the regulated Summer additives that must meet specs because the Govt. says so...people are driving more because it is Summer...another survey comes out with confirmation that people are still going to drive on that Summer vacation they saved up for all year no matter what the price is. Do you not think that's music to the Oil companies ears?
Anyway, as long as people are continuing to use more and are paying the premium, it's going higher. I think we in the Metals arena have lost touch that when supply weakens and demand for the product is high...it's going to rise in value. The Oil market is working like clockwork, exactly the way it should and almost completely opposite of the way the Metals arena is. Alllllllllllllllllllllllllll jmho.
You didn't ask for it but here's my thoughts why.
ULSD (Ultra Low Sulfur Diesel) is used mainly by trucks that haul everything we buy to the local place we buy it. If the cost of ULSD goes up any more, the cost of everything we buy goes up more. It affects more people than Gasoline does and the market setters know this and don't want this (wait for it....) because that would then take $ out of the market and it would fall to it's more realistic values. So they keep the charade going.
ULSD is a necessity, Gasoline is a luxury and why it costs more. Most luxury items costs more than essential things that affect more peoples wallets.
Knowledge is the enemy of fear
<< <i>Actually diesel is more expensive than gas and is cheaper to refine. Trucking companies are being screwed. >>
I believe that the diesel is higher due to taxes, trying to make the trucks pay for the damage they do to the roads.
You just made my point coho. If all things were equal, gasoline is a by-product of ULSD and it's the gasoline that's higher at the pump, shouldn't ULSD be substantially higher than the gas? You have to refine the ULSD, gasoline is a by-product of that refining process.
ULSD is being held down on purpose because if it were allowed to be at its true level of cost to the consumer, it would affect more people for reasons previously stated.
But they are not equal. If a car can get let's say 25 mpg and a semi truck gets 10 mpg if they are lucky, and truck drivers driver far more miles a year than the avg. person that drives a car even with there being more cars than trucks on the road...which product do you think there is more of stored (ready for consumption)? There's more ULSD surprisingly.
So with that said if there's more ULSD than Gasoline available for use, which is higher to the end user? Gasoline
Tom
I knew it would happen.
<< <i>How much is bottle water per gallon? >>
80 Cents from my supplier.
Want them from Fiji, Probably $10 or higher depending on bottle size and retailer.
<< <i>Gas will climb and the taxes the GOV collects will break records in revenue again >>
I fixed your typo :-)
Detroit Suburb
$9.20 in Italy.
<< <i>$3.49 per gallon this morning in NJ.
$9.20 in Italy.
Hey, Sophia Loren and cannoli. It's worth it!
<< <i>$3.49 per gallon this morning in NJ.
$9.20 in Italy.
Shows how fortunate we are in this country.
As I recall, gasoline in Europe hit $2 a gallon in 1960!
Diesel fuel is the same as home heating oil. Diesel should be much lower than gasoline.
Knowledge is the enemy of fear
This will be map changing before it is over.
I understand the tranquility though as we seem negotiate one crisis after another with the deft maneuverability of Tarzan floating across a forest of vines.
This one may stick though, and stick hard.
<< <i>Diesel fuel is the same as home heating oil. Diesel should be much lower than gasoline. >>
The differences is taxes.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>So with that said if there's more ULSD than Gasoline available for use, which is higher to the end user? Gasoline
Diesel fuel is the same as home heating oil. Diesel should be much lower than gasoline. >>
get it at the gas station in cans. bring it home and dump into truck so you can avoid the 60 cents in road tax. Just DONT get caught....
<< <i>
<< <i>So with that said if there's more ULSD than Gasoline available for use, which is higher to the end user? Gasoline
Diesel fuel is the same as home heating oil. Diesel should be much lower than gasoline. >>
get it at the gas station in cans. bring it home and dump into truck so you can avoid the 60 cents in road tax. Just DONT get caught.... >>
or install a 250 gallon heating oil tank above ground next to the house for your "heater." Then just gravity feed it through a hose into you diesal fuel tank.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Home heating oil works fine in a diesel in the warmer months at least. A guy I know has a forced hot air heater installed in his garage that is oil fired. He also has an older mercedes that has a diesel engine that he keeps in the garage.
He gets oil from 3 different oil companies and he never runs the heat in his garage
<< <i>Gas will climb and the Oil Companies will break records in profits again >>
And nobody make a fuss about this or about the fact the the oil companies expect you, the taxpayers, to fund their exploration efforts.
They never will.
I knew it would happen.
<< <i>I plan to make this my mantra when talking with any of my liberal friends & acquaintances - go ahead and take the lead - stop driving that car!
They never will. >>
95% of my trips to the post office are by bike. As post offices are pretty local, half of the commuters (save for those with large mailings) can walk or ride. They don't though, parking lot is always loaded with autos.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I catch hell for driving a V-8 Caddy even though the six speed tranny gives me 35+ miles to the gallon while cruising. >>
I hope you're showing them the back side of your pimp hand for that nonsense.
I park my truck next to the e-vehicle charging spots at work to say 'thanks for not using my gas'.
I would like to know where the line is for that taxpayer money to explore for oil. I've got a couple spots I'd like to drill. In years past, we always had to pay our own bills when we drilled. Didn't realize we were doing it wrong.
<< <i>$3.69 for the hemi last night. >>
$3.67 for the hemi last night, same station. That's a whole 50cents discount per tank from Thurs to Sun, shwing!
I knew it would happen.
Too many positive BST transactions with too many members to list.
<< <i>Hemi? Pics are imperative at this point!
It's nothing tasty like an old Cuda, just a truck - gotta haul big paintings around and the 6 footers don't fit in the jeep all too well. I do drive it like a sports car though, that right pedal gets a heavy foot on it a lot with my 40mile HWY trips to the office, ha!
I knew it would happen.