OMG PANIC PANIC PANIC PANIC PANIC PANIC PANIC PANIC
AHHHHHHHHHHhh
::runs around like his head is on fire::
Plus the entire city of Houston and people in surrounding coastal areas are filling up their gas tanks today. Long lines at all gas stations. Probably over 6 million people in this area of Texas filling up today.
Houston is expecting 100+ mph winds.
Is this serious, or is this something that deserves a ZOT?
Is this serious, or is this something that deserves a ZOT?
Oh Noes!
Not?
Get a Diesel vehicle and start storing at least a month's worth useage.
Funny thing is, the demand spike due to the rumor could temporally raise prices.
Went down 2 cents a gallon in my town in Maine this afternoon.
Will I have to drive to Florida to pay those prices? I’m only off today.
What was the going rate for a gallon where you are?
What was the going rate for a gallon where you are?
PS: Native Americans can be Christians too, same as anyone else. May God bless you and keep you. Eph. 2:8-9.
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Me? I'm going to stock up on Bean Burritos to circumvent the whole system.
NEW YORK (CNNMoney.com) — Retail gasoline prices rose modestly for the second day in a row Thursday as Hurricane Ike entered the Gulf of Mexico, according to a nationwide survey of gas station credit card swipes. But wholesale gas prices in the region soared.
Wholesale jump: As the storm churned toward the Texas coast, wholesale gas prices were up more than $1.50. On Wednesday, a gallon of gas cost $3.25 on the Gulf Coast wholesale market, and by Thursday afternoon, wholesale gas cost more than $4.75 a gallon, according to Tom Kloza, the chief oil analyst for Oil Price Information Service, an independent publisher that follows wholesale and retail fuel prices in North America.
The Gulf Coast wholesale market is the largest bulk market for wholesale gasoline in the world, according to Kloza.
“They are absolutely going ballistic in the Gulf Coast,” said Kloza, and the pricing is based on fear of Ike shuttering refineries.
When wholesale gas prices go up, that pushes up retail prices, because dealers pass on the price jump to consumers. But Kloza said that given the oddity of the current situation, he does not expect prices at the pump to jump nearly as drastically as wholesale prices.
“You may see companies that traditionally pass on these increases only pass on a portion,” said Kloza. “It is very complicated but I don’t think you can use the normal metric,” in this situation.
The spike up in the wholesale market could come back down as quickly as it shot up, said Kloza. “We could be at $5 a gallon for wholesale tomorrow afternoon. We could be at $3.”
The futures contract for October delivery of wholesale gas was still trading around $2.78 a gallon
Price Gouging Frequently Asked Questions
1. What is Price Gouging?
Florida Statute 501.160 states that during a state of emergency, it is unlawful to sell, lease, offer to sell, or offer for lease essential commodities, dwelling units, or self-storage facilities for an amount that grossly exceeds the average price for that commodity during the 30 days before the declaration of the state of emergency, unless the seller can justifying the price by showing increases in its prices or market trends. Examples of necessary commodities are food, ice, gas, and lumber.
2. How do I know if I’m being price gouged?
The law compares the reported price of the commodity or service during the state of emergency to the average price charged over the 30-day period prior to the declared state of emergency. If there is a “gross disparity” between the prior price and the current charge, it is considered price gouging.
3. What is covered under the Price Gouging Statute?
The Price Gouging Statute covers only essential commodities. A “commodity” means any good, service, material, merchandise, supplies, equipment, resources, or other article of commerce, and includes, without limitation, food, water, ice, chemicals, petroleum products, and lumber necessary for consumption or use as a direct result of the emergency. The law also requires those selling goods and services to possess an occupational license. Examples of non-essential items luxury items are alcoholic beverages and cigarettes.
4. What evidence do I need to help enforce the Price Gouging Statute?
If you suspect price gouging, obtain as much information as possible in the form of estimates, invoices, receipts or bills. When comparing products, note as much information as possible, including the product name, size or quantity, manufacturer, item number and unit price. For lumber products, note the grade, thickness and quality. If it is a service such as storage or towing, note the per-mile (or other distance) charge, removal charges, per-day storage charges and other charges such as security, clean up or other “add-ons.” Report this information to the Attorney General’s Price Gouging Hotline at 1-866-966-7226. You may also report violations online at http://myfloridalegal.com or mail documents to the following address:
Office of the Attorney General
The Capitol, PL-01
Tallahassee, FL 32399-1050
Please remember to include your name, the name of the company or individual, and a complaint number, if you received one.
5. How can I avoid becoming a victim of price gouging?
Plan ahead. Prepare for a disaster before it happens. Always have the following items on hand:
Five gallons of drinking water per person in your household
At least two working flashlights
A portable radio
A telephone with a cord – If the electrical power is lost, a cordless telephone will not work
An ample supply of batteries to power these and other items
A full tank of propane and charcoal if you have a barbeque grills
Non-perishable food items
Formula and diapers, if you have young children in the home
Although not essential, board games, books and playing cards might be helpful to entertain young children. Additionally, do not forget to make plans to care for any pets.
If government officials recommend evacuation, it would be wise to heed that advice. Mandatory evacuations mean just that. Gas tanks should be filled in advance in case evacuation is advised.
After the danger has passed, obtain estimates for clean-up and repairs in writing from licensed contractors. Check with county or city contractor’s licensing board for recommendations and demand proof of proper licensing. Don’t allow anyone to bully you or force you into making a quick decision. Never hesitate to call the local law enforcement if necessary.
The Department of Business and Professional Regulation licenses more than 20 types of professions and can be reached via telephone at 850-487-1395 or via the internet at http://www.myflorida.com/dbpr/.
gas barrel prices dropped.....
I hope this thread gets pulled. This is the same kind of bullshit that caused panics all over the country after Katrina. Gas went up over $%.00 in some parts of Atlanta for absolutely no good reason.