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Author	Topic: Despite drilling, gas prices still march upward	Post a Reply Back to Topics

Huntingdog Champion Author Oakland Posts:14,200 Points:2,789,335 Joined:May 2005	Message Posted: Feb 20, 2013 10:54:35 PM Ignore Huntingdog Report Abuse Gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans. The national average pump price hit $3.77 for a gallon of unleaded gasoline Wednesday, up a sharp 47 cents per gallon from just a month ago, according to the AAA’s Fuel Gauge Report. In Dallas, the spike has been even greater: The average price for a gallon of unleaded was $3.70 Wednesday, up from $3.18 a month ago. Pump prices nationwide have been marching higher for 34 consecutive days — the result of refinery closures and maintenance, lower oil production by Saudi Arabia, market anxiety about tensions in Iran and Iraq, and guarded optimism about the prospects for economic recovery in the United States, Europe and China. And again, financial speculators appear to be a big part of the stor Visit Dallas Morning News for full article

Huntingdog

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Oakland

Posts:14,200
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Message Posted: Feb 20, 2013 10:54:35 PM

Ignore Huntingdog Report Abuse

Gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans.

The national average pump price hit $3.77 for a gallon of unleaded gasoline Wednesday, up a sharp 47 cents per gallon from just a month ago, according to the AAA’s Fuel Gauge Report.

In Dallas, the spike has been even greater: The average price for a gallon of unleaded was $3.70 Wednesday, up from $3.18 a month ago.

Pump prices nationwide have been marching higher for 34 consecutive days — the result of refinery closures and maintenance, lower oil production by Saudi Arabia, market anxiety about tensions in Iran and Iraq, and guarded optimism about the prospects for economic recovery in the United States, Europe and China.

And again, financial speculators appear to be a big part of the stor
Visit Dallas Morning News for full article

REPLIES (newest first)Ignore Short Messages

WalkingWV Champion Author West Virginia Posts:3,701 Points:779,595 Joined:May 2008	Message Posted: Feb 21, 2013 1:58:01 PM Ignore WalkingWV Report Abuse Drill baby what?
NightRider Champion Author Dallas Posts:1,410 Points:77,250 Joined:Apr 2012	Message Posted: Feb 21, 2013 12:54:52 PM Ignore NightRider Report Abuse The formula for the increased price of a gallon of gas: The amount of money the average person has left over at the end of the month divided by the average number of gallons of gasoline used. This equals the amount available for a price increase per gallon. Gas price increase equals up to 100% of this amount. Add a few pennies to the existing price and drive around, use GasBuddy or call the other stations to see their price. Share this information with all of the other stations in the area and everyone decide on what the price will be.
werich44 Champion Author California Posts:1,872 Points:471,130 Joined:Jun 2011	Message Posted: Feb 21, 2013 10:05:47 AM Ignore werich44 Report Abuse There's a surprise!
skempton Champion Author Vermont Posts:1,154 Points:841,110 Joined:Apr 2010	Message Posted: Feb 21, 2013 9:23:33 AM Ignore skempton Report Abuse Obviously drilling isn't the answer.
hokieburgh Champion Author Virginia Posts:1,127 Points:467,325 Joined:Feb 2007	Message Posted: Feb 21, 2013 8:25:38 AM Ignore hokieburgh Report Abuse need a trend reversal....someway...somehow.......
streetdesign All-Star Author Illinois Posts:551 Points:578,445 Joined:May 2011	Message Posted: Feb 21, 2013 8:24:02 AM Ignore streetdesign Report Abuse More drilling and more pipe lines is not the answer with speculators controling the crude prices. Alternative energy sources are what is needed to go head to head with crude.
gs7101 Champion Author San Antonio Posts:5,538 Points:389,345 Joined:Jun 2009	Message Posted: Feb 21, 2013 7:27:49 AM Ignore gs7101 Report Abuse I'm shocked -- no not really!
335d1 Champion Author Virginia Posts:2,396 Points:761,970 Joined:Feb 2011	Message Posted: Feb 21, 2013 7:17:14 AM Ignore 335d1 Report Abuse Speculators don't have to drill or do anything useful to fuel their greed. The free market at work.
Radar1992 Champion Author Florida Posts:1,340 Points:313,090 Joined:Dec 2011	Message Posted: Feb 21, 2013 6:46:12 AM Ignore Radar1992 Report Abuse How can this happen in this current administration? I am shocked. The President cannot control the price of oil except through taxation....do you really want the geniuses in Congress to try to control the Free Market?
Nancy&Len Champion Author Cleveland Posts:2,068 Points:1,948,740 Joined:Sep 2004	Message Posted: Feb 21, 2013 6:41:20 AM Ignore Nancy&Len Report Abuse It problem starts inside the beltway.
Straitliner Champion Author Illinois Posts:1,520 Points:240,450 Joined:Sep 2012	Message Posted: Feb 21, 2013 6:14:38 AM Ignore Straitliner Report Abuse And theres nothing we can do about it.
leeac Champion Author Ohio Posts:1,611 Points:436,830 Joined:Jan 2012	Message Posted: Feb 21, 2013 6:09:30 AM Ignore leeac Report Abuse So much for, Drill, baby, drill."
ClarkSC Champion Author South Carolina Posts:3,093 Points:1,014,330 Joined:May 2010	Message Posted: Feb 21, 2013 5:11:08 AM Ignore ClarkSC Report Abuse Blame Obama.
MN1 Champion Author Twin Cities Posts:3,374 Points:653,515 Joined:Jun 2011	Message Posted: Feb 21, 2013 3:38:04 AM Ignore MN1 Report Abuse NSS, and it ain't gonna change until the speculators are reigned in.
MrLefty0706 Champion Author Chicago Posts:1,454 Points:353,785 Joined:Apr 2012	Message Posted: Feb 21, 2013 3:15:16 AM Ignore MrLefty0706 Report Abuse Oil should be a simple market where price is based on supply and demand. Unfortunately, oil does not react like most commodities because greedy speculators are driving the price.
Billrusty All-Star Author Washington Posts:862 Points:161,135 Joined:Nov 2012	Message Posted: Feb 21, 2013 3:12:08 AM Ignore Billrusty Report Abuse really you got to be kidding me lol
lippoe_sokan All-Star Author Provo Posts:632 Points:185,100 Joined:Nov 2012	Message Posted: Feb 21, 2013 1:57:36 AM Ignore lippoe_sokan Report Abuse Shocking news! (No, not really.)
Bookieecon Veteran Author Georgia Posts:286 Points:107,825 Joined:Aug 2012	Message Posted: Feb 21, 2013 1:34:49 AM Ignore Bookieecon Report Abuse Energy and oil is a very simple market. If you believe hook line and sinker every time the pr or marketing gurus issue a news release, well, stay out of the market because you are going to loose your shirt,pants,socks and shoes.For example this article is full of empty calories. The market data in the last half of 2012 indicated strong pressure for rising fuel costs. Those who saw it have benefited financially, others are raising capital to cover margin calls. There was no speculation involved, it was a well executed plan to increase capital revenue. The information was there for anyone to look at and in most cases, free. So expect another month of feeding frenzy for the scavengers, then two months of nothing and then another 3-4 months of surfing the financial waves again.
iFueler Champion Author Durham Posts:64,458 Points:181,450 Joined:Nov 2012	Message Posted: Feb 21, 2013 1:05:17 AM Ignore iFueler Report Abuse what happened to the reports it was refinery switch-over causing the increase MAKES MY POINT, OIL IS A COMPLEX MARKET WITH MANY VARRIABLES
Vetteblu Champion Author Denver Posts:2,685 Points:782,770 Joined:Oct 2010	Message Posted: Feb 21, 2013 12:56:37 AM Ignore Vetteblu Report Abuse More greed, the love of money.
Zing20 All-Star Author Fresno Posts:700 Points:174,820 Joined:Nov 2012	Message Posted: Feb 21, 2013 12:20:54 AM Ignore Zing20 Report Abuse $5 gas will be here in a few weeks.
Joeski1 Champion Author New Jersey Posts:10,017 Points:1,744,760 Joined:Dec 2004	Message Posted: Feb 21, 2013 12:04:17 AM Ignore Joeski1 Report Abuse never gonna go down.... if ya think it ever will go back to your memories of 'the good ole' days.... ya must have left your sense there too...
dandvicb Champion Author Bridgeport Posts:1,243 Points:1,079,655 Joined:Jul 2004	Message Posted: Feb 20, 2013 11:56:22 PM Ignore dandvicb Report Abuse GET RID OF THE SPECULATION!!!!
dandvicb Champion Author Bridgeport Posts:1,243 Points:1,079,655 Joined:Jul 2004	Message Posted: Feb 20, 2013 11:56:03 PM Ignore dandvicb Report Abuse Absolutely ridiculous SPECULATION!!!!!
andy1024 Champion Author Allentown Posts:1,712 Points:450,200 Joined:Dec 2011	Message Posted: Feb 20, 2013 11:35:42 PM Ignore andy1024 Report Abuse Drilling not fast enough?
RitaVespa Champion Author Oregon Posts:2,996 Points:795,285 Joined:Jan 2011	Message Posted: Feb 20, 2013 11:26:21 PM Ignore RitaVespa Report Abuse Yep
Palantas All-Star Author Indianapolis Posts:803 Points:415,795 Joined:Sep 2011	Message Posted: Feb 20, 2013 10:56:15 PM Ignore Palantas Report Abuse I've noticed. :(