The price of gasoline

[Pat Carry]

Who in the world is jacking up the price of gasoline of late? Just in the past 8 days it has gone up here in northern Illinois 40 cents a gallon!! I just dont see how that is possible.

Now its up 60 cents a gallon here in 3 weeks. I can only imagine what it will be come memorial day!

[cooper9411]

Who in the world is jacking up the price of gasoline of late? Just in the past 8 days it has gone up here in northern Illinois 40 cents a gallon!! I just dont see how that is possible.

Now its up 60 cents a gallon here in 3 weeks. I can only imagine what it will be come memorial day!

They are using any excuse possible for the rise!

[PinecastleAAF]

Once upon a time ( oh like 12 years ago) only large end users like airlines and cruise ship companies and oil distributors bid on oil futures contracts, in other words those who took actual delivery of the product. Now every hedge fund in America buys them.

HOW'S THAT WORKING OUT FOR YOU?

[muddyboots]

I don't pay for gas. I stick the nozzle in my truck, crank her up and wait for the automatic shut off. Then I go blowing ass out of there like Mudge after too many burritos. So far I have about 35 nozzles in the bed of my truck. Anybody want to buy them?

[Planebeach]

Its sucks that the price just goes up end up. Today I filed my car at $10.45 a gallon, I have never payed that much before. Man I wish I had a hybrid.

[PinecastleAAF]

Go short.

[Tombstoner139]

I thought I heard that it was because the ethanol subsidy was ending...

Ryan

Haven't heard that but hope your correct. The ethanol farse has increased the cost of nearly everything we eat or drink.

Prediction is the national average price this summer will be well over $4.

Seriously dude? Ethanol costs you nothing in food prices. Food prices are higher now because oil prices are going up. It has nothing to do with ethanol, farmers, or subsidies. By the time food gets to the shelves, it has been transported using fuel no less than probably 7 times. This is only counting field onwards. If you want to blame someone for your expensive corn flakes, blame OPEC.

Don't screw with the farm kid's knowledge on ethanol, and don't believe everything you read/hear on the news.

Actually the ethanol subsidy makes it economical to use corn as a feedstock material for making ethanol. that corn otherwise would be used in making high fructose corn syrup as a sweetener in modern processed foods. thus a spike in demand for corn makes the price go up for all corn derived products.

Sadly the majority of people don't know of or even care where there food comes from as long as its good and cheap. government farm subsidies have a major role in keeping food prices down: its a form of price fixing.

The real ugly truth is that prices will be driven higher by one simple process and that's unrestricted expansion of human population.
As more and more people are born a percentage of them will be in countries that can purchase cars( or any OIL derived product/Plastic). as car growth expands, OIL consumption expands, demand goes up and you have to compete against "everyone on the planet" for OIL. The average person sees the price
at the pump and reacts to $4 gas. i just paid $50 to fill my car last night and i am happy to do so even if we can push
fuel efficiency to 200 miles /gallon with expanding human population consumption still increases.... as more economies develop a middle class(China and others) car owner ship increases thus OIL demand increases and long term prices go up....

OIL/Coal/Natural gas is not infinite, but our ability to consume it is..... enjoy $4 gas while it lasts, because i know $10-20 /gallon is coming in my life time.

[JohnCFord]

Seems to me that all the talking heads say that gas is going up which gets the public talking about gas going up which has the oil execs saying to themselves: "Everyone seems to think gas is going up, let's jack up the price...." Just my .02...

~J~

[cooper9411]

Seems to me that all the talking heads say that gas is going up which gets the public talking about gas going up which has the oil execs saying to themselves: "Everyone seems to think gas is going up, let's jack up the price...." Just my .02...

~J~

Agreed 100%, I've been saying that for 3 years. If they stop talking about it, maybe it would come back down!












!

[k5083]

There is something to the talk-talk argument, and it goes to Enemy Ace's point about speculators. Talk (okay, "research") fuels the commodities market that speculates on oil prices, detaching them from short-run supply and demand. Once upon a time, futures trading was about risk reduction, but now it is increasingly a casino built on top of the commodities markets. We let the financial system build a casino on top of the home mortgage market, look how well that worked out. Like any other casino, the big players do okay, the low rollers almost always lose, and the house always wins.

August

[PinecastleAAF]

Once upon a time, futures trading was about risk reduction, but now it is increasingly a casino built on top of the commodities markets. We let the financial system build a casino on top of the home mortgage market, look how well that worked out. Like any other casino, the big players do okay, the low rollers almost always lose, and the house always wins.

BINGO, FUEL.