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Author Topic: Optimism about Fed shutdown/debt ceiling resolution boosts oil prices Back to Topics
PD
Moderator
Message Posted: Oct 10, 2013 2:00:50 PM

Is the end near for the decline in gasoline prices that has lasted some 37-days? It may be, all thanks to sudden optimism that the fed shutdown and debt ceiling situation may soon be over.

Markets soared on the news that politicians were working on a plan, and oil prices gained nearly $2/bbl, even after the EIA yesterday pointed to a large increase in crude supplies, and gasoline supply that stood 12.5% above their year ago level.

Spot gasoline prices, which weigh heavily on wholesale prices, or the price that stations pay, was up double digits per gallon with the Great Lakes market seeing the largest jump thanks to small refinery mishaps. Spot prices across the country were up 8 to 13 cents per gallon, and surely if this...

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REPLIES (newest first) Post a Reply
tutaw
Champion Author Kentucky

Posts:6,505
Points:1,597,560
Joined:Sep 2008
Message Posted: Oct 11, 2013 4:50:35 PM

swell
lorimarie36
Champion Author New York

Posts:1,226
Points:269,335
Joined:Sep 2013
Message Posted: Oct 11, 2013 4:35:42 PM

We all know eventually it was going up anyway, didn't we?
ESP27
All-Star Author Florida

Posts:918
Points:1,740,420
Joined:Aug 2006
Message Posted: Oct 11, 2013 4:35:26 PM

what optimism? they just wanted to up the price of gas.
Gerg001
Champion Author San Bernardino

Posts:3,427
Points:1,228,145
Joined:Feb 2006
Message Posted: Oct 11, 2013 3:11:15 PM

Instead of government money they will look to us? We are definitely voting foot the wrong people.
Countryman2013
Champion Author Pensacola

Posts:2,773
Points:729,250
Joined:Feb 2013
Message Posted: Oct 11, 2013 3:09:34 PM

Speculators 10 - Consumers 0
Zuman
Champion Author New York

Posts:9,301
Points:2,661,655
Joined:May 2005
Message Posted: Oct 11, 2013 3:08:16 PM

And we'll get screwed.
GatorGuy
Champion Author Columbia

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Points:1,903,990
Joined:Jan 2009
Message Posted: Oct 11, 2013 3:06:38 PM

"optimism about Fed shutdown".

Now we're getting excited?
nemoFL
Champion Author Florida

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Joined:Oct 2008
Message Posted: Oct 11, 2013 3:01:23 PM

hope not
tomok
Champion Author Portland

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Joined:Aug 2006
Message Posted: Oct 11, 2013 2:59:49 PM

Optimism about Fed shutdown/debt ceiling resolution boosts oil prices. Higher pump prices coming, the current 'lower fuel prices' could not have lasted for very long. The worst potus ever and one group of politicians trying to right the wrong of 'that' individual. Health care should not have to cost such an astronomical amount and be so unaffordable for the US population. There has been NO improvement for health care in the US, not until someone else has the skills to improve it!!!!
This sounds like prejacu---, ahhhhhh, manipulation to me!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
bassakwards007
Champion Author Orange County

Posts:4,276
Points:1,013,000
Joined:Aug 2012
Message Posted: Oct 11, 2013 2:58:47 PM

will go up no matter what
hunterruss
Champion Author Michigan

Posts:2,005
Points:1,009,165
Joined:Feb 2010
Message Posted: Oct 11, 2013 2:57:30 PM

Just raise the prices already. Lame excuses abound.
caddilac
Champion Author Ontario

Posts:20,202
Points:2,913,035
Joined:Apr 2007
Message Posted: Oct 11, 2013 2:56:32 PM


"Optimism about Fed shutdown/debt ceiling resolution boosts oil prices"

And gasoline prices as well.
THX138
Champion Author San Francisco

Posts:4,778
Points:1,739,930
Joined:Apr 2010
Message Posted: Oct 11, 2013 2:53:22 PM

The neighbor's dog across the street pharrted and sent the price of gas up 8 cents/gal.
k2kipp
Champion Author Minnesota

Posts:6,276
Points:1,831,010
Joined:Sep 2005
Message Posted: Oct 11, 2013 2:51:52 PM

Yep... the low-life scum oil companies didn't wait long to start jacking up the gas prices up here.
Rhino8of8
Champion Author Wisconsin

Posts:3,104
Points:1,043,295
Joined:Jan 2012
Message Posted: Oct 11, 2013 2:50:20 PM

Price going up even tho there's a surplus.
pitamon
Champion Author Philadelphia

Posts:7,467
Points:2,558,975
Joined:Sep 2004
Message Posted: Oct 11, 2013 2:48:40 PM

We knew the speculators would pump it back up, we just did not when.
geezrtek
Champion Author Michigan

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Joined:Apr 2011
Message Posted: Oct 11, 2013 2:48:09 PM

Submitted Yesterday
goldrose1
Champion Author Cleveland

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Message Posted: Oct 11, 2013 2:48:05 PM

Gives people something to talk about over their Starbucks.
Bonanza
Champion Author Boston

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Message Posted: Oct 11, 2013 2:46:17 PM

Yesterday's news
red5529
Champion Author Alabama

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Message Posted: Oct 11, 2013 2:40:53 PM

Stay home anyway, let them choke on surplus supplies.
sanjeev3
Veteran Author Toronto

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Joined:Jan 2009
Message Posted: Oct 11, 2013 2:39:39 PM

ok
fieldt
Champion Author Lansing

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Message Posted: Oct 11, 2013 2:39:36 PM

Another reason to keep it shutdown?
Bigtex09
Champion Author Dallas

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Points:1,892,080
Joined:Oct 2009
Message Posted: Oct 11, 2013 2:31:18 PM

what a joke for a boost
thuathienhue
Champion Author Michigan

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Joined:Jul 2011
Message Posted: Oct 11, 2013 2:29:51 PM

Hope it ends soon
Voltus
Champion Author Miami

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Joined:May 2005
Message Posted: Oct 11, 2013 2:28:51 PM

the boggy man is coming
marion1739
Champion Author Missouri

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Points:979,335
Joined:Jan 2011
Message Posted: Oct 11, 2013 2:27:45 PM

Here comes 4.50 a gallon nation wide.
DragonLady76
Champion Author Illinois

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Joined:Feb 2009
Message Posted: Oct 11, 2013 2:27:04 PM

WHATEVER!
032946
Champion Author Twin Cities

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Joined:Oct 2001
Message Posted: Oct 11, 2013 2:22:37 PM

There is always a cheap excuse to raise the price at the pump. The oil companies never miss a chance to gouge consumers.
BrucePen
Champion Author Ontario

Posts:9,082
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Message Posted: Oct 11, 2013 2:21:24 PM

Of course.
24RaceFan
Champion Author Saskatchewan

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Joined:Jun 2007
Message Posted: Oct 11, 2013 2:21:02 PM

Just another reason for speculators to screw with gas prices.
Gascapade
Champion Author Fort Worth

Posts:5,681
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Joined:Mar 2009
Message Posted: Oct 11, 2013 2:19:28 PM

Speculator rats will rocket prices back up at any opportunity....
Cableman66
Champion Author North Carolina

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Message Posted: Oct 11, 2013 2:12:47 PM

Old news.
36IHBinder
Champion Author Illinois

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Joined:Jun 2011
Message Posted: Oct 11, 2013 2:12:40 PM

Gas jumped today.
PrettyLittleLady
Champion Author Modesto

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Joined:May 2006
Message Posted: Oct 11, 2013 2:09:30 PM

really..
fullauto
Champion Author Reading

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Message Posted: Oct 11, 2013 2:09:07 PM

17th babes
JFC
Champion Author Omaha

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Joined:Apr 2004
Message Posted: Oct 11, 2013 2:08:03 PM

But diesel prices haven't budged! Why??
mikesr100
Champion Author Sacramento

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Joined:Apr 2008
Message Posted: Oct 11, 2013 2:07:23 PM

OK
fowlcan
Champion Author Oklahoma City

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Joined:Feb 2011
Message Posted: Oct 11, 2013 2:06:46 PM

Price of gasoline rose in my neighborhood overnight.
MaxCO2
All-Star Author Washington

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Points:250,140
Joined:Mar 2011
Message Posted: Oct 11, 2013 2:06:38 PM

What we need is a change in the U.S. Constitution where we can vote to toss every Senator and/or Congressperson out the door and start over. They also lose all medical and retirement benefits if this happens.
It's pretty damn clear that none of our elected "representatives" are representing anyone but themselves.
It's time to flush the toilet folks.
73amx
Champion Author Allentown

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Message Posted: Oct 11, 2013 2:04:35 PM

ok
LoneGuy
Champion Author Lansing

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Message Posted: Oct 11, 2013 2:03:02 PM

No help from the GVT!
fedupp
Champion Author Cleveland

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Joined:May 2013
Message Posted: Oct 11, 2013 2:02:49 PM

Thank you thank you and with that I am gone for the weekend-enjoy
brian1145
Champion Author Quad Cities

Posts:2,685
Points:1,085,730
Joined:Apr 2012
Message Posted: Oct 11, 2013 2:01:54 PM

Nothing drives down the cost of oil better than the threat of a good old fashioned recession instigated by your friendly Republican Party.
smelser1123
Champion Author Nevada

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Joined:Jun 2012
Message Posted: Oct 11, 2013 2:01:39 PM

Good comment fedupp
idigau22
Champion Author Washington

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Joined:Apr 2003
Message Posted: Oct 11, 2013 2:01:09 PM

It is time to clean out the trash!! Throw out all the bums!!!
nehemiah
Champion Author Portland

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Message Posted: Oct 11, 2013 2:00:15 PM

dumb reaction
frogdad
Champion Author Virginia

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Joined:Jul 2006
Message Posted: Oct 11, 2013 1:59:47 PM

hmmm...
fedupp
Champion Author Cleveland

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Points:43,205
Joined:May 2013
Message Posted: Oct 11, 2013 1:58:18 PM

There are a lot of people on here that are trying to will something into being that is simply imposible,and that is affordable oil from frack and shale----the fact of the matter is that Iraq's oil (25% of the worlds easily accessible high quality oil)had to be taken off the world market(and kept off)to even make frack and shale and option,and they kept it off by letting China and Russia have it. Frack and shale are the end result of sky high oil prices-not the answer to sky high oil prices.
pokey2002
Champion Author Massachusetts

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Joined:May 2012
Message Posted: Oct 11, 2013 1:57:32 PM

old
jpj23
Champion Author Los Angeles

Posts:7,444
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Joined:Jul 2008
Message Posted: Oct 11, 2013 1:54:56 PM

Why should the federal government shutdown affect oil prices to begin with?
TxMtb
Champion Author Ohio

Posts:4,348
Points:1,035,460
Joined:Feb 2012
Message Posted: Oct 11, 2013 1:53:01 PM

Jumped earlier this week.
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