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Author Topic: Oil prices remain bipolar, "punch drunk" Back to Topics
PD

Moderator
Message Posted: Dec 9, 2013 10:20:02 AM

Up one day, down big the next, up big next week- that's seemingly been the story while yours truly has been away from the desk. One day last week I noticed a massive 17-cent a gallon drop in wholesale prices in the Great Lakes, leading some prices down under $3/gal again, the next day a big spike.

The markets seem punch drunk, and believe me: motorists don't love it as much as they loved the 2002 flick featuring Adam Sandler. And after some time off, I feel like the markets moved in tandem with the weather in a certain city last week: all over the map.

It makes filling up more of a game than anything else, and it sure makes things a bit challenging for us here at GasBuddy- trying to explain every different trend in the...

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pilotmass
Champion Author Boston

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Message Posted: Dec 15, 2013 1:55:57 PM

Alrighty then
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fedupp
Champion Author Cleveland

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Message Posted: Dec 15, 2013 7:46:34 AM

I started watching Iraq as soon as W Cheney attacked,I wondered how the oil would be divided---I never dreamed that China and Russia would get the cheap oil our beautiful troops fought for----and we would end up with economy devastating way too expensive frack,shale,and tar leftovers----but then again I should have never underestimated the destructive capabilities of career oil men with White House power.
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 14, 2013 9:15:52 AM

fedupp: not only do China and others pay less, they also don't have the post-war debt headache.
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fedupp
Champion Author Cleveland

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Message Posted: Dec 13, 2013 7:43:34 AM

The magic pill is to just do what we did before the Iraq war,the demonization of Venezuela,and the changing of the way commodities like oil are traded(de-regulated banking system)the reason that fuel is way to much,3 and 4 times too much is because we get it from where it is expensive--not from where it is cheap-like we did since the OPEC oil glut of 1984--------the cheap oil for us ended the day we went into Iraq---but not for China and Russia,they just waited and took over in Iraq,now they develop Iraq's oil themselves for a tiny fraction of what we pay on the market----less than $15.00 per barrel.You have Google-check it out.
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 13, 2013 5:50:44 AM

too bad there's no magic pill to get that bi-polar drunkard back on track...
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 12, 2013 5:53:24 AM

would be nice to see prices drop below $3/gal. Unlike some PD / GB predictions, prices around here went UP, not down after Turkey Day.
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fedupp
Champion Author Cleveland

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Message Posted: Dec 11, 2013 8:03:26 AM

All too well,he made an arms deal to keep them(Iran contra)-thats why Carter lost----but when it comes to gas prices I would not go tooting Reagans horn the reason gas came down in the mid 80s was the OPEC oil glut-the true oil rich nations of the earth basically lost control of the restrictions they put on themselves and ended up with way too much oil on the world market-and world oil prices plummeted-and almost instantly the economy started getting better(a lot of people think it was because of Regan throwing money at rich people-I disagree,low gas prices always jump start our economy)From the Yom Kippur disaster,and going north for way more expensive oil in Alaska,until the oil glut of 1984 gas prices murdered our economy--from 1984 all the way to the day before the invasion of Iraq and the shutting of of Bill Clinton's oil for food program we had reasonable,or really cheap oil prices,at one point during Clinton's run oil was $14.00 per barrel--but then again Bill Clinton understood that America only thrives with low fuel prices--and he worked very hard to keep prices low--------Cheney and "w" whole different story-highest oil prices in history,they are both career US oil men,so they have everything to gain from eliminating cheap oil from the world market(Invasion of Iraq,demonization of Venezuela and other true oil rich nations)because North American developed frack,shale and tar oil could never dream of being able to compete with true oil rich nations in price or volume-not even close-north American developed oil has an average support cost of $70.00 per barrel before profit------true oil rich nations can easily make a profit off of $20.00brl world market price----but why would they now? We have shown them we are willing to pay $100.00+
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rocky23hy
Champion Author Massachusetts

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Message Posted: Dec 10, 2013 5:33:06 PM

Remember $1 a gallon under President Reagan? Remember the Iranians sending the hostages home before he just took office?
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fedupp
Champion Author Cleveland

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Message Posted: Dec 10, 2013 11:56:02 AM

You can do $0.20 and $0.30 price swings every week when you take gasoline from the one dollar and something range to the three and four dollar and something range-------that is one difference between cheap oil from true oil rich nations,and north American oil.
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Sweets2003
Rookie Author Gasbuddy

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Message Posted: Dec 10, 2013 11:28:26 AM

Reading anything about gas prices up and down is a joke anymore. I have gotten used to making sure I have filled my tank by Tuesday mornings because I know by early Tuesday afternoon they will start jumping and are normally 20 cents or more higher than they were that morning. I see it in my area every week the exact same thing. Probably not the same in all areas but thats how it is here.
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fedupp
Champion Author Cleveland

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Message Posted: Dec 10, 2013 9:24:03 AM

You guys are still missing the main point---north American oil costs too much-------the corporations that develop north American crude oil need sky high world oil prices-----if the people of the U.S.A. had control over oil,we would buy oil like we always did from where oil is cheap---we no longer have control of our government(oil companies and giant insurance,farm,pharm,chemical,weapons,ect.ect.ect. corporations do)or where we buy oil from----and all it takes is an invasion of the wrong oil rich nation,by the wrong oil men politicians and we get the privilege of buying oil that costs many,many times more than middle east and Venezuelan oil to get out of the ground-speculators,refining costs,taxes,transport costs-dont even hold a candle to the extra cost of getting frack oil out of the ground($70.00 per barrel before profit)shale,tar-same thing,not real oil fields in true oil rich nations,these are leftover expensive resourses that can not provide cheap fuel.The OPEC nations can drown us in cheap oil if they wanted to.
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randyragon
Veteran Author Gary

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Message Posted: Dec 10, 2013 9:05:46 AM

The speculators do just that, speculate. If they think an event might occur that would cause a shortage, they drive the price up. But, and this is the big point, but if the event doesn't occur the price rarely goes back down to even the starting point. Let alone to a swing below in the same amount as the push up to a higher price. If it was truly supply and demand, and not manipulation, then a rise from a start of $90 that went up $2 because of a storm. And if the storm didn't materialize, then the price should swing down to $88 to cause a loss for those that speculated wrong. It never happens. It might trickle back to $91, but they still get that $1 at least instead of $2 tacked on and it is just passed on to us.
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beachnut
Champion Author Michigan

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Message Posted: Dec 10, 2013 8:52:59 AM

Makes it hard to plan...as if "they" care!
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fedupp
Champion Author Cleveland

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Message Posted: Dec 10, 2013 7:49:29 AM

I notice a large number of people seem to almost exclusively blame speculators for the sky high price of fuel.The way that commodities are traded was changed and that helped to drive the price of oil to the incredibly high price that you see today(that and war in the middle east and more lies than anyone can count)but at this point to me they make almost no difference----The elephant in the room is North American frack,shale and tar oil cost too much to get out of the ground and to market-way too much------where does this idea come from that oil blows out of the ground in north America like it does in the middle east and Venezuela? They can easily supply the world,just like they did before the Iraq war and axis of evil lies with $20.00 per barrel oil for a hundred years if we let them------but we dont let them.....and "our" oil(I love that term-it really belongs to U.S. and international oil corporations)costs on average $70.00 per barrel before profit just to get out of the ground(support costs)thats way too much to ever supply us with affordable fuel---and if you are one who says $3.00 aint bad(I am not)just wait till spring.
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Bill100
Champion Author Grand Rapids

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Message Posted: Dec 10, 2013 7:35:52 AM

Manipulation
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jethro5000
Champion Author Kentucky

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Message Posted: Dec 10, 2013 7:24:45 AM

Old
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RocketGeek
Champion Author Grand Rapids

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Message Posted: Dec 10, 2013 6:11:18 AM

Down with prices and speculators!
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Marson
Champion Author Scranton

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Message Posted: Dec 10, 2013 6:10:27 AM

I totally agree with dc1552. The Goldman sashs of the world are costing the world a lot of money.
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dc1552
Champion Author Virginia Beach

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Message Posted: Dec 10, 2013 6:04:48 AM

Get market speculators out of the process. Force anyone buying futures to take delivery of the product before reselling the underlying contract.
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gasandgoAL
Champion Author Alabama

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Message Posted: Dec 10, 2013 6:02:39 AM

could use a little help during the x-mas holidays
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friday21
Champion Author Toronto

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Message Posted: Dec 10, 2013 6:02:36 AM

Whatever
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AESJOBLOM4
Champion Author Florida

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Message Posted: Dec 10, 2013 6:01:37 AM

MONKEY SEE MONKEY DO
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bikerWI
Champion Author Milwaukee

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Message Posted: Dec 10, 2013 6:01:32 AM

This is why predictions don't know anything.
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Bxman
All-Star Author Richmond

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Message Posted: Dec 10, 2013 6:01:19 AM

Up on high travel days down on the slow days?
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calripken_8
Champion Author Virginia

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Message Posted: Dec 10, 2013 5:59:14 AM

Always a roller coaster
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abk
Champion Author Utah

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Message Posted: Dec 10, 2013 5:58:51 AM

That's because the market reflects human emotion, not reality.
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MImusicman
Champion Author Michigan

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Message Posted: Dec 10, 2013 5:58:38 AM

Definitely our locale in MI
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BM4225
Champion Author Atlanta

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Message Posted: Dec 10, 2013 5:57:51 AM

Well we spiked last week, but we are heading back down to where it was then.
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Jeffro61
Champion Author Cleveland

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Message Posted: Dec 10, 2013 5:57:50 AM

Old news.
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curlypooh
Champion Author New Jersey

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Message Posted: Dec 10, 2013 5:57:40 AM

Sounds like the fools in DC.
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smqua
Champion Author Cleveland

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Message Posted: Dec 10, 2013 5:57:28 AM

Yawn
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jdhelm
Champion Author Iowa

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Message Posted: Dec 10, 2013 5:56:43 AM

ok
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metrojeep
Champion Author Fort Worth

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Message Posted: Dec 10, 2013 5:56:21 AM

Yes, I agree, Big Oil is "bipolar"....
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luckyl
All-Star Author Halifax

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Message Posted: Dec 10, 2013 5:56:11 AM

Speculators are drunk with greed.
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Z06KY
Champion Author Louisville

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Message Posted: Dec 10, 2013 5:55:51 AM

And the Christmas season is on us so the price of gas will go up and up!
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jppezz
Champion Author New Mexico

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Message Posted: Dec 10, 2013 5:55:30 AM

No reason for it.
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sappie
Champion Author Massachusetts

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Message Posted: Dec 10, 2013 5:55:21 AM

need to fall again.
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Ratso
Champion Author Ohio

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Message Posted: Dec 10, 2013 5:49:10 AM

Hang in there, they are forming another game plan to jam it to us with out Vaseline !
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bjdorval
Champion Author Quebec

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Message Posted: Dec 10, 2013 5:47:03 AM

Are the oil company executives seeing a shrink?
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tco0102
Champion Author Charleston

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Message Posted: Dec 10, 2013 5:44:57 AM

yesterdays news
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HelenT
Champion Author Buffalo

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Message Posted: Dec 10, 2013 5:44:21 AM

old
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fillerupyeoww
Champion Author Columbus

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Message Posted: Dec 10, 2013 5:43:09 AM

Same old...
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LeeFree
Champion Author Pittsburgh

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Message Posted: Dec 10, 2013 5:43:08 AM

Speculators are drunk with greed. Whip-sawing the price gives them a profit in the differentials.
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Lengas
Champion Author Gary

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Message Posted: Dec 10, 2013 5:41:59 AM

You can't follow the Big Oil Manipulating bouncing ball!!!!!!!!!!!!!!!!!
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WEB0153
Champion Author Maryland

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Message Posted: Dec 10, 2013 5:41:57 AM

ok
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roger1315
Champion Author North Carolina

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Message Posted: Dec 10, 2013 5:40:20 AM

So true. These roller coaster gas prices are enough to drive you to drink.
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Alderaan
Champion Author Greenville

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Message Posted: Dec 10, 2013 5:36:58 AM

Too bad we can't stockpile the way the oil companies can.
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Hunter724
Champion Author New Hampshire

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Message Posted: Dec 10, 2013 5:35:18 AM

Just high here...
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AvantiMick
Champion Author Indiana

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Message Posted: Dec 10, 2013 5:32:23 AM

Yep, the Indiana Yo-Yo effect!! I can drive 40 miles in any direction and pay up to 40 cents less! Central Indiana has the highest in the state!
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sent4456
Champion Author Toronto

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Message Posted: Dec 10, 2013 5:31:44 AM

Greed!
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