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Author Topic: Despite drilling, gas prices still march upward Back to Topics
Huntingdog

Champion Author
Oakland

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Message Posted: Feb 20, 2013 10:54:35 PM

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) Post a Reply
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WalkingWV
Champion Author West Virginia

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Message Posted: Feb 21, 2013 1:58:01 PM

Drill baby what?
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NightRider
Champion Author Dallas

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Points:141,310
Joined:Apr 2012
Message Posted: Feb 21, 2013 12:54:52 PM

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.
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werich44
Champion Author California

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Message Posted: Feb 21, 2013 10:05:47 AM

There's a surprise!
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skempton
Champion Author Vermont

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Message Posted: Feb 21, 2013 9:23:33 AM

Obviously drilling isn't the answer.
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hokieburgh
Champion Author Virginia

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Message Posted: Feb 21, 2013 8:25:38 AM

need a trend reversal....someway...somehow.......
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streetdesign
Champion Author Illinois

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Points:1,051,960
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Message Posted: Feb 21, 2013 8:24:02 AM

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.
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gs7101
Champion Author San Antonio

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Message Posted: Feb 21, 2013 7:27:49 AM

I'm shocked -- no not really!
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335d1
Champion Author Virginia

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Message Posted: Feb 21, 2013 7:17:14 AM

Speculators don't have to drill or do anything useful to fuel their greed. The free market at work.
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Radar1992
Champion Author Virginia

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Points:797,515
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Message Posted: Feb 21, 2013 6:46:12 AM

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?
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Nancy&Len
Champion Author Cleveland

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Message Posted: Feb 21, 2013 6:41:20 AM

It problem starts inside the beltway.
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Straitliner
Champion Author Illinois

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Joined:Sep 2012
Message Posted: Feb 21, 2013 6:14:38 AM

And theres nothing we can do about it.
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leeac
Champion Author Ohio

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Joined:Jan 2012
Message Posted: Feb 21, 2013 6:09:30 AM

So much for, Drill, baby, drill."
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ClarkSC
Champion Author South Carolina

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Message Posted: Feb 21, 2013 5:11:08 AM

Blame Obama.
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MN1
Champion Author Twin Cities

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Message Posted: Feb 21, 2013 3:38:04 AM

NSS, and it ain't gonna change until the speculators are reigned in.
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MrLefty0706
Champion Author Chicago

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Message Posted: Feb 21, 2013 3:15:16 AM

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.
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Billrusty
Champion Author Washington

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Message Posted: Feb 21, 2013 3:12:08 AM

really you got to be kidding me lol
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lippoe_sokan
Champion Author Provo

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Message Posted: Feb 21, 2013 1:57:36 AM

Shocking news! (No, not really.)
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Bookieecon
Veteran Author Georgia

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Message Posted: Feb 21, 2013 1:34:49 AM

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.
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iFueler
Champion Author Durham

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Message Posted: Feb 21, 2013 1:05:17 AM


what happened to the reports it was refinery switch-over causing the increase

MAKES MY POINT, OIL IS A COMPLEX MARKET WITH MANY VARRIABLES
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Vetteblu
Champion Author Denver

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Message Posted: Feb 21, 2013 12:56:37 AM

More greed, the love of money.
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Zing20
Champion Author Fresno

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Message Posted: Feb 21, 2013 12:20:54 AM

$5 gas will be here in a few weeks.
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Joeski1
Champion Author New Jersey

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Points:2,230,185
Joined:Dec 2004
Message Posted: Feb 21, 2013 12:04:17 AM

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...
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dandvicb
Champion Author Bridgeport

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Message Posted: Feb 20, 2013 11:56:22 PM

GET RID OF THE SPECULATION!!!!
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dandvicb
Champion Author Bridgeport

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Message Posted: Feb 20, 2013 11:56:03 PM

Absolutely ridiculous SPECULATION!!!!!
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andy1024
Champion Author Allentown

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Message Posted: Feb 20, 2013 11:35:42 PM

Drilling not fast enough?
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RitaVespa
Champion Author Oregon

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Joined:Jan 2011
Message Posted: Feb 20, 2013 11:26:21 PM

Yep
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Palantas
All-Star Author Indianapolis

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Joined:Sep 2011
Message Posted: Feb 20, 2013 10:56:15 PM

I've noticed. :(
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