Does anyone know why gasoline is rising when the price of oil is dropping?
I know it’s b/c of the hurricane, but why isn’t the price of oil increasing since gas is rapidly increasing? It jumped .40 in my town today.
Could be because the largest refinery in the U.S. stands in Ike’s path.
I’d say because of shutting down refineries(gas).I wonder how bad the unemployment numbers are going to get after this.
Refineries will be closed.
So demand for oil will be lower for a while until they start running again.
There was a mention of it on the news this moring but I honestly wasn’t listening. I got gas on Wednesday evening and paid $3.38 for the cheap stuff in Pasadena. It’s only gone up .03 if you can find any place open. The local Walmart is getting deliveries at least twice a day. There are lines.
I also understand that what they charge you isn’t necessarily what they pay for that gas but what they (the station) estimates they will pay for the next delivery. (disclaimer: I could be WRONG).
Prayers up for anyone who stayed in the evacuation areas. It’s gonna be sucky this weekend in Texas.
Forty percent of the nation's oil refineries may be shutdown by Ike.
This comes after Hurricane Gustav shut down refineries in Louisiana/Mississippi.
We run at close to 100% of refinery capacity, so any interruption in the operations of the refineries means a shortage.
Two of the largest refineries anywhere are in Baytown and Texas City -- where there are some forecast of a 30 foot storm surge.
It might be like Hurricane Katrina and Rita that it will take months to get refineries repaired.
There are about 20% of the nation's refineries in an area that can be hit the hardest by Ike.
The Tropical Storm conditions may be shutting down refineries in Corpus Christi (to the Southwest) and in Baton Rouge/New Orleans/Biloxi to the East...
Bottom line: we may need some new refineries after they clear away the debris...
As refineries button up, fuel supplies cause concern
Gas stations run short amid rush to fill up
Both are Freerepublic posts with links to the Houston Chronicle.
A quote from one article:
On Thursday, fuel station operators woke up to find the spot price for gasoline had risen nearly $1.50 a gallon overnight.