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Question about gas prices

  • Thread starter Trapper7
  • Start date
  • #21
Front page of the paper here yesterday declared something about the government predicting gas averages with peak at $4.15 and will probably stay around there for 1 or 2 years.

ahem...ok, now just how do they know this??

Unfortunately nobody will ever be honest with us. So far stories have said that one of the most powerful men involved with US gas prices has thrown his support behind Obama and wants to ensure that no one votes Republican by hiking the gas through the roof and beyond. He's predicted that the bubble won't last much longer. I've also heard that the world is just using too much oil to meet the demand. Then there is always the idea that rich financial guys are sitting around causing it to go up on speculation.

The responsible party (not political party, but rather organization or individual most responsible) will never come forward and it is so hard to find a media outlet that doesn't throw around phrases like "The LIBERALS are responsible for..." and "if the CONSERVATIVES continue..." that you really can't trust anything since it all seems rather biased. Kinda like Congress and the House of Reps, those *******s.....

that word is probably gonna get censored

The gas stations that I wrote about yesterday that were about 15 cents less than stations of the SAME company a few miles away eventually caught up at $3.99. At least two of them were around $3.84 earlier yesterday while the others were around $3.95
 
  • #22
Well what I have always wondered is, if you have two gas stations across the street from each other and both have prices of $3.85. Why doesn't one of them lower there price by 10-15 cents? It makes sense that people would go out of there way to pay a few penny's less per gallon. so you would come out making more from the numbers of costumers per day. I know if I were driving and saw a sign $3.85 and looked 100 FT away and saw $3.75 I would definitely take the time to turn around and go to the cheaper place. Does that make since?
 
  • #23
here in washington, its pretty bad
4.34 regular
4.44 midgrade or w.e its called
and 4.54 for premium....
uhg....
 
  • #24
So far stories have said that one of the most powerful men involved with US gas prices

you do realize its a bunch of twenty-somethings controlling the price of gas dont you? petroleum is traded on the world market not set by oil companies......its day trader types speculating what is going to happen in the middle east that are affecting the price of gas.....hell if i had about $10,000,000 to throw around in the stock market i could tweak the price of a barrel of oil for a day or two driving it higher.........
 
  • #25
I still don't understand how that works. Will someone please explain how some fool on Wall Street can say "I think oil will go higher", and then magically, it does, based solely on their opinion?
 
  • #26
I doubt that the national Average cost of gas will be at $5/gallon by the fourth of July. Maybe in major cities in California, but not everywhere
 
  • #27
When speculators believe oil prices are rising, they dump money into the petroleum market and, if enough do it, prices rise. A lot of speculative capital that until recently was inflating the housing market is now inflating petroleum and food prices. Unfettered capitalism leaves a lot of collateral damage in its wake, which is why governments should use tax and other policies to take away some of the speculators' enthusiasm.
 
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