Posted by Bay Area Holdout on February 12, 2009, 8:43 pm
From all I read oil is still bouncing off all time lows not seen in years,
yet where I live(South SF Bay Area) gas prices hit a low of $1.69 a gallon
in mid-December and are now at $2.22 a gallon tow month later.
So what's up? This is close to a 25% rise in two months and while I know
it's not the $4.49 a gallon we were dealing with during the summer, it's not
$140 a barrel oil either.
All I read is low demand for fuel and the refinery storage facilities have
no room left, supply and demand says prices should still be well below $ a
gallon, at least around here.
Just wondering if others have seen similar increases where they live and if
they have an idea what's going on.
BAHO
Posted by Rod Speed on February 12, 2009, 9:54 pm
Bay Area Holdout wrote:
> From all I read oil is still bouncing off all time lows not seen in years, yet
where I live(South SF Bay Area) gas
> prices hit a low of $1.69 a gallon in mid-December and are now at $2.22 a
gallon tow month later.
> So what's up?
They're increasing their margins, because they can.
> This is close to a 25% rise in two months and while I know it's not the $4.49
a gallon we were dealing with during the
> summer, it's not $140 a barrel oil either.
> All I read is low demand for fuel and the refinery storage facilities have no
room left, supply and demand says prices
> should still be well below $ a gallon, at least around here.
> Just wondering if others have seen similar increases where they live
Yes. And thats on the other side of the world to you too.
> and if they have an idea what's going on.
See at that top.
Posted by Shawn Hirn on February 12, 2009, 10:36 pm
> From all I read oil is still bouncing off all time lows not seen in years,
> yet where I live(South SF Bay Area) gas prices hit a low of $1.69 a gallon
> in mid-December and are now at $2.22 a gallon tow month later.
>
> So what's up? This is close to a 25% rise in two months and while I know
> it's not the $4.49 a gallon we were dealing with during the summer, it's not
> $140 a barrel oil either.
> All I read is low demand for fuel and the refinery storage facilities have
> no room left, supply and demand says prices should still be well below $ a
> gallon, at least around here.
>
> Just wondering if others have seen similar increases where they live and if
> they have an idea what's going on.
I fill up my 2008 Prius once every other week. I keep a log in an Excel
spreadsheet of my gas fill ups and other costs for my car. I have notice
the price per gallon going up slowly over the past few months here in
NJ. I suppose there's greater demand for gas. Increased demand is what
helped to push the cost per gallon up to the $4.00 range and lower
demand is what pushed the price per gallon down.
Posted by catalpa on February 13, 2009, 4:26 am
> From all I read oil is still bouncing off all time lows not seen in years,
> yet where I live(South SF Bay Area) gas prices hit a low of $1.69 a gallon
> in mid-December and are now at $2.22 a gallon tow month later.
> So what's up? This is close to a 25% rise in two months and while I know
> it's not the $4.49 a gallon we were dealing with during the summer, it's
> not $140 a barrel oil either.
> All I read is low demand for fuel and the refinery storage facilities have
> no room left, supply and demand says prices should still be well below $ a
> gallon, at least around here.
> Just wondering if others have seen similar increases where they live and
> if they have an idea what's going on.
> BAHO
The crack spread went negative last fall with wholesale gasoline price under
$0.80/ gallon and refiners were losing money on every barrel they refined.
The crack spread has since returned to a normal range with wholesale
gasoline price now about $1.26/ gallon.
XML site map