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What else to expect in a country where the last new refinery was built in 1977.
1 posted on 08/25/2015 9:42:36 AM PDT by bestintxas
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To: bestintxas

Pump Price B sticky on the way down.


2 posted on 08/25/2015 9:44:03 AM PDT by Paladin2 (Ive given up on aphostrophys and spell chek on my current device...)
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To: bestintxas
What else to expect in a country where the last new refinery was built in 1977.

Excellent point. Also, gas is down some 40% while oil is down some 60%. That's not out of line for the underlying commodity and the retail purchase finished product at all.

3 posted on 08/25/2015 9:44:26 AM PDT by C. Edmund Wright (WTF? How Karl Rove and the Establishment Lost...Again)
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To: bestintxas

Capacity is up about 10% over the last 30 years around 18 million bbl/day.


4 posted on 08/25/2015 9:46:02 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: bestintxas

“the newest major one was completed in 1977”

Banana. Republic.


5 posted on 08/25/2015 9:46:03 AM PDT by major-pelham
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To: bestintxas

Back in Howard Hughes day, there was a guy who was running around the country building refineries. Hughes kept buying him out, but he’d just go build another one.

We need some guys like that. And the Feds need to streamline the process for approval. Or designate some lands which are preapproved for refineries.


6 posted on 08/25/2015 9:46:08 AM PDT by DannyTN
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To: bestintxas

Back in Howard Hughes day, there was a guy who was running around the country building refineries. Hughes kept buying him out, but he’d just go build another one.

We need some guys like that. And the Feds need to streamline the process for approval. Or designate some lands which are preapproved for refineries.


7 posted on 08/25/2015 9:46:08 AM PDT by DannyTN
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To: bestintxas

Supply of oil is high, refinery capacity is not.


8 posted on 08/25/2015 9:46:11 AM PDT by DoodleDawg
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To: bestintxas

The problem is simple: all those “boutique” gasoline blends. That means you can’t easily transfer refined gasoline to anywhere in the country, which drives up the price of gasoline at the wholesale/retail level.


9 posted on 08/25/2015 9:46:27 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: bestintxas

My car burns 93 obtain. The price difference between that and 89 octane has almost doubled as well.


10 posted on 08/25/2015 9:46:51 AM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: bestintxas
Gasbuddy dot com ...

Hit the "Show Crude Oil Price" button for comparison.

11 posted on 08/25/2015 9:46:55 AM PDT by NorthMountain ("The time has come", the Walrus said, "to talk of many things")
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To: bestintxas
Even Congress is grilling refiners over the disparity.

More proof that Congress is STUPID when it comes to economics. Do they think that oil magically refines itself? I remember all the nonsense and demagoguing when Bush had building more refineries as part of his energy policy and it got pulled. As ye sow, so shall ye reap.

12 posted on 08/25/2015 9:47:33 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: bestintxas

How is propane? I just got a a quote of $1.99 / gal.


13 posted on 08/25/2015 9:48:19 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: bestintxas
it's called the Rockefellers still screwing the American people
16 posted on 08/25/2015 9:51:09 AM PDT by drypowder
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To: bestintxas

What keeps the gas prices high is called “price fixing.”


17 posted on 08/25/2015 9:52:19 AM PDT by AEMILIUS PAULUS
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To: bestintxas

Gasoline is following oil down hereabouts right nicely. Some stations, the ones right along main routs of rush hour travel keep their prices between an exorbitant $2.35 and $2.43 but you just go over a block and get $2.20. That was yesterday.


18 posted on 08/25/2015 9:52:19 AM PDT by arthurus (It's true.)
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To: bestintxas; thackney

Would FR’s resident oilman care to chime in for this question please?

(I know I’d be interested in his answer; I’ve been wondering the same thing)


19 posted on 08/25/2015 9:53:53 AM PDT by FourtySeven (47)
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To: bestintxas

I just got back from DR. Appt.

Drove past stations that had Regular Unleaded from $2.18 - $2.26 on the west side of the lake.

Get back on east side going home and Sam’s was $2.32, others are $2.46 or so.


22 posted on 08/25/2015 9:56:39 AM PDT by mabarker1 (congress, The Opposite of Progress.)
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To: bestintxas

Liberal states also add their own refining demands which explain why their gas prices are higher. Also, don’t forget how much you are paying in gasoline taxes for that gallon at the pump. The taxes don’t go away just because the price of the commodity goes down.


25 posted on 08/25/2015 10:12:29 AM PDT by OrangeHoof (SECEDE TEXAS!! If not now, when?)
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To: bestintxas

Using the data available at the St. Louis Fed website it works out to about a 20-day lag between a barrel dropping and a gallon dropping at the pump.

Conversely, it’s a 20 microsecond delay between the increase in price of a barrel and a 10-20 cent rise at the pump.

Go figure.


26 posted on 08/25/2015 10:13:23 AM PDT by Larry - Moe and Curly (Loose lips sink ships.)
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To: bestintxas
This from Gas Buddy (comparing oil to US Average). Sure enough, gas hasn't moved at near the same angle as oil.


28 posted on 08/25/2015 10:16:14 AM PDT by Marko413
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