Gas prices jump?


Shaun_300

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Gas jumped from $1.10/L (average) to $1.18/L locally here almost overnight in the wake of the issues going on in Lybia. I've even seen a couple stations posting prices of $1.23/L that were close to 401 off-ramps.

$1.10 cdn/L = $5.00 cdn/Imp gal. (that's $4.33 US/US gal.)

$1.18 cdn/L = $5.36 cdn/Imp gal. (that's $4.64 US/US gal.)

$1.23 cdn/L = $5.58 cdn/Imp gal. (that's $4.82 US/US gal.)

If I cross the border into the states (northern NY), gas is running about $3.50 US/US gal (that's $4.46 cdn/Imp gal. or $0.98 cdn/L)

What amazes me, is that a barrel of crude oil trades on the open world markets based on future prices for one month down the road. So with that in mind, the drastic (16% to 20%) rise in crude for March acquisitions, should have affected the price at the pumps in a month or two. But amazingly, the price at the pumps rocketed immediately as soon as the world crude prices for March jumped because of the Lybian crisis. In contrast to that, when the price of crude oil plummets on the open markets, it takes a month or so to realize drops at the pumps.

OH NO! The gas companies aren't gouging. BULL! BUNK! POPPY GUNK!

TBow

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The cheapest I can find regular is $3.23 here. Three of the guys I hunt with say they can't go to Colorado this year because they can't afford it if gas goes up any more. One of them goes from here with me so I told him I'm going no matter what so it's no hardship if he just rides along. The two that come occasionally from New York I can do nothing about. This stinks! :bang:

Mark

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It is gouging, the oil that is not being pumped in Libya is just an excuse. It has risen by 20-30 cents in one week here. Passed up getting gas at $3.15 at sams club Thursday with having seen a station on the way home that was at $3.09 and wouldn't ya know it that station it had risen to $3.20 in less than two hours.

People are forgetting Obama's suggestion that he wanted to see gas prices over what was it he said $13 a gallon(?) so the American working class would forced to make energy efficient alternatives.

Wanna get really disgusted about all this, take a look here http://www.usgs.gov/newsroom/article.asp?ID=1911. Sitting on so much oil right here at home that we should probably have under a dollar gas but the environmentalists and liberlas won't stand for that.

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As we deal with the rising price you can check this out

http://gasprices.mapquest.com/?cid=google&sem=1&ncid=mpqmap00170000000007&s_kwcid=TC|10782|gas%20prices||S|b|3683761166

I am sure there are other similar sites. Protest on gas pricing will not work, it will just shift the purchase time. You can only store so much fuel.

As I mentioned elsewhere: With food and fuel prices going up the temptation is there to horde up. That activity will contribute to further price escalation. Eventually you can reach only so much carrying capacity of goods. Hopefully, some of these revolutions will turn the Mideast into a democratic area and stability will come back and the pressure on price and supply will ease up.

For now, using some conversation on travel where possible may help but I believe we are seeing the beginning of inflation. Anyone that was earning a living in the late 70's and early 80's wil be able to relate to you what that was like.

Edited by Flintlock1776
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Just saw a price here at $3.45 a gallon! Average price here is $3.29 a gallon! It's a rip. They raise the prices because of what they 'think' might happen. If it does, the oil companies certainly aren't going to lose any money so they will capture it now while they can. And our congressman and senators sit there and do nothing due to the vested interest the oil companies have in their re-election campaigns.

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Between all the unrest in the middle east and obama's addiction to printing money, there's no reasonable end to rising gas prices in sight.

$3.3359/gal everywhere here....................up $.20 in a week.

And thats the reasons I was scanning for.

The middle east unrest is causing most of the price increases. Keep in mind that fuel price is based on specualtion. Everyone knows the crap going on in the sandbox and it wont likely end soon.... its a hard reality but it is reality. We need to drill here, drill now, and quit relying on other countries.

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