Posted on 02/09/2015 5:06:15 AM PST by Alas Babylon!
Edited on 02/09/2015 6:26:36 AM PST by Admin Moderator. [history]
WASHINGTON D.C. (AP) - All good things must come to an end. After months of watching them drop, gas prices went up again this week to an average of $2.20 a gallon, according to the Lundberg Survey.
After plummeting by $1.65 between May and January, it seems the downward trend is over.
(Excerpt) Read more at wkyt.com ...
Fill up today. Still going up. Getting a bottle of Staybil and filling my gas cans for the year today.
Gasoline goes down about 1 to 2 cents a day but up 5 cents a day when the price increases. Explain that one.
How much gasoline do your store for a year’s supply?
Courtesy of Obama’s union buddies going on strike at the ports and in the oil refineries.
+/- $2.14 in central Wisconsin today but today is just getting started. Could be closer to $2.20 by the end of the day.
“Fill up today. Still going up. Getting a bottle of Staybil and filling my gas cans for the year today.”.........
You must have a really big gas can.
That’s easy. Gas station owner has to price his existing inventory based not just on whatever profit margin he believes is adequate but also must take into account what replacing his liquid inventory is going to cost him. If he thinks gas is going to cost him $0.03 more per gallon, he will often build in an additional margin in case he is wrong. There are more than enough examples of gas station owners that screwed themselves by not allowing for a margin of error to the tune of tens of thousands of dollars.
Of course, when the wholesale price is on the way down, station operators tend to pad the price a bit to try to make some additional money.
Oil on track for biggest two-week gain in 17 years
http://fuelfix.com/blog/2015/02/06/oil-on-track-for-biggest-two-week-gain-in-17-years/
Oil headed for the biggest two-week rally since March 1998 in London as price volatility rose to the highest in almost six years.
Brent crude climbed 10 percent this week, adding to an 8.6 percent gain last week. It’s still about half the price it was in June. The CBOE Crude Oil Volatility Index, which measures price fluctuations using options of the U.S. Oil Fund, ended at 63.14 on Thursday, the most since April 2009. Saudi Arabia cut prices for March exports to Asia to the lowest in at least 14 years, signaling OPEC’s largest producer may continue to fight for market share.
Oil has rebounded as companies including Statoil ASA, BP Plc and Royal Dutch Shell Plc have reduced investments in response to the market’s collapse. U.S. drillers pulled a record number of rigs off oil fields, according to data from Baker Hughes Inc. Jan. 30. The company will publish its latest rig count Friday. U.S. government data showed crude stockpiles in the world’s largest consumer surged to the highest level in more than three decades.
“Volatility is at a six-year high as the market is struggling to gauge what theme to go with,” Ole Hansen, head commodities analyst at Saxo Bank A/S in Copenhagen, said by e- mail. “Is it falling rig count and capex, or the continued rise in U.S. inventories and the Saudi actions?”
excerpted:
Prices here reached a low of $1.83 two weeks ago.
Since then, the average has climbed back up to $1.99, with a few gougers up to $2.09.
Part of our woes could be the State Fair, Gasparilla, and the Strawberry Festival all happening at this time of year...
I know last month our first radical Islamic President, B. Hussein Oslamo, committed a micro-terror attack against the USA by announcing he was utilizing the climate change scam to instituted more regulations against gas and oil companies to “curb Methane output” even though the percentage of Methane in the atmosphere is 0.00017%. So that could be one of the reasons why prices are rising.
“Gasoline goes down about 1 to 2 cents a day but up 5 cents a day when the price increases. Explain that one.”
The price of gas is more regulated than bread is in France. A proprieter can lower the price as much as they want and they do so to match the in-sight competition. This is because, although they make almost zero money on the sale of gas, they make $16 on beer and cigarettes per one dollar of gas sold. In Florida they are not allowed, by law, to raise the price until they have bought gas at the higher price. Again, to keep gas in their tanks they need to keep their price equal to the in-sight competition or they’ll sell out and lose the beer and cigarette sales. You’ll often see a tiny tanker running from station to station. The tanker driver will pump 100 gallons or so into the station’s tanks and leave a receipt with the new price so the proprietor can then raise his rates to equal those of the in-sight competition.
I have 5X5 gallon jugs so about 25 gallons, but I’ll need to refill them in about 6 months. So about 50 gallons a year. I have 1 garden tractor, 2 lawn tractors, chain saws, weed whackers, a tow behind powered tiller and other assorted engine tools. I have about 20 acres and a very large vegetable garden.
There’s enough Staybil in a big bottle to cover all 25 gallons. I HIGHLY recommend you use it unless you know you’ll consume all of the gas within a month or so.
Sta-bil has another benefit besides keeping gas fresh, it neutralizes the effect that ethanol has on small engines.
Without sta-bil in your gas it is likely your small engines would need very expensive repairs after setting over winter.
I will pick up some. I haven’t fooled with the old Jeeps and blazer in a while and apparently I am not the mechanic I thought I was.
Ha...went up 20 cents on Friday here
In my area (nw Arkansas) gas was $1.63 on Wednesday, January 28.
On Friday, January 30, it was up to $1.85.
Last Wednesday, February 4, it was up to $1.99.
Yesterday/today, it ranges from $1.96 to $2.09.
Do you use the blue marine version? I’ve been told that’s the best for combating ethanol-in-gas effects.
Here in Dallas it went up 14 cents overnight. From 1.85 to 1.99.
I wonder if all the minions on my Facebook who were praising Obama and almost calling him God for the fall in Gas prices will now credit him for the rise in the prices now?
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