Why are gas prices going back up?

Discussion in 'The Drivers Lounge' started by Jeff, Feb 5, 2015.

  1. Jeff

    Jeff Administrator

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    MURFREESBORO – Gas prices across the nation increased earlier this week for the first time in 18 weeks, according to the U.S. Energy Information Administration.

    Motorists in Rutherford County saw prices shoot up between 10 cents and 15 cents a gallon seemingly overnight.
    http://www.dnj.com/story/money/business/2015/02/04/gas-prices-going-back/22852777/
     
  2. othertrucker2001

    othertrucker2001 Professional Flummoxer

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    Refinery workers are going on strike claiming lack of production is causing them to lose hours. Yet people are travelling more with prices down. Anyone see a problem with this lie?
     
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  3. Cerberus_Kelpie

    Cerberus_Kelpie Wings Over the World!

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    Standard Operating Procedure.
    Prices have risen and fallen briefly since the late 70's and 80's (remember those fun days of listed "Half Price" on pumps?)

    Here's something fun, when looking at prices in other countries, like Britain, at least we don't pay by the Litre, which, at, say, $2.50 per LITRE, a gallon would be close to $10.00, so current prices are not so bad eh.
    --Just feeding the "food 4 thought" appetite--
    CHEERS!!
     
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  4. othertrucker2001

    othertrucker2001 Professional Flummoxer

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    Obama says we can afford $10.00 per gallon gas.
     
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  5. Big Dave

    Big Dave Dispatcher for Team BRG-Wong

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    So they can still charge $3000 a month for an ex FEMA trailer in North Dakota....
     
  6. mud

    mud Wonderin'

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    Maybe now all the whining going on due to falling gas prices will stop.
     
  7. othertrucker2001

    othertrucker2001 Professional Flummoxer

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    Not til unleaded regular is $6.00 a gallon.
     
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  8. Jeff

    Jeff Administrator

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    Local station here (Shell) 7-11 went from 1.98 a gallon to 2.19 a gallon in 24 hours
     
  9. RacerX69

    RacerX69 Retired Gear Jammer/IBEW Retired/Wingnut

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    Looks like it is time to load the 55 gallon barrels into the pickup and head into town before it jumps any higher . . . . . . . .
     
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  10. Stimpy

    Stimpy Wingnut

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    I guess that's better than loading up the double barrel shotgun....you could get free room and board if you used the shotgun.....

     
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  11. pro1driver

    pro1driver I am LAST

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    the Shell station i get my lotree numbers was $1.99, 2 days ago, this morning, it is $2.25.
     
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  12. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    A lot of exploration and drilling goes away when crude prices fall to a level that makes it unprofitable. What was perceived as a glut could soon become tight supplies.
     
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  13. Guardrail

    Guardrail Super Moderator Staff Member

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    My junk yard gas is still $0.00 a gallon. I told my buyer that he'd better be checking the gas gauge before buying any more cars.
     
  14. pilot87

    pilot87 Well-Known Member

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    Here in Mexico gas (unleaded regular) is 13.57 (pesos) per liter.... multiply by 3.79 liters per U.S gallon it comes to 51.4 pesos per gallon.... The average daily exchange rate is about 14.60 pesos per dollar... which translates to $3.52 per gallon.... So Gas in the States is still a bargain at $2.25.... I hope it's still that low when I return...!
     
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  15. WildHeart

    WildHeart Well-Known Member

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    After feast comes famine..the short lived but highly lucrative wells will die out if drilling has a break, when it starts to run thin there will be crying at the pump before they get crude moving again.
    If the Saudis get their way, it will knock out the US shale plays it will take a while for things to get going around here again and they'll have a larger share of the market and we still buy a lot of crude from them.
     
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  16. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    Thanks for a sane explanation. If it continues to go up again it won't be long before the loons come back out crying about "Big Oil" manipulating prices. During the recent decrease in price we haven't heard a peep out of them about "Big Oil" manipulating prices.
     
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  17. pilot87

    pilot87 Well-Known Member

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    There has been a lot of talk about it having a lot do with with Russia.... With that being the case, it is about price manipulating..... "Big oil" can very well afford to "take the hit" on price and will without doubt reap their rewards for cooperating....... and as everyone expects, prices will rise again after this crisis is past....and any losses will no doubt be made up....So enjoy it while it lasts.....because it won't last....... Just in case you don't know... Big Dave & Flounder are the only real "Lasts" we have...!..
     
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  18. highspeeds

    highspeeds ENTERTAINMENT USE ONLY

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    The Saudis were getting pinched by Russia and the US flooding the market with their shale oil. So the Saudis did the only thing they could do to get control back. They upped production. This lowered the price per barrel and crushed the Russian currency and made it unprofitable for the US to continue scrapping rocks for oil. The Russians are now talking about a deal to secure a production quota that favors them. Any money the Saudis lost in their effort will be returned and then some.
     
  19. othertrucker2001

    othertrucker2001 Professional Flummoxer

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    And we will bear the burden.
     
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  20. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    I'm not as concerned with "Big Oil" as I am with "Big Tech", they're much more sinister.
     

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