Gas Prices Going UP!!

Kevin Butler · **Posted:** Mon Aug 29, 2005 11:35 am

Hey Ya'll,

Got this through the rumor mill in G'ville.

"The husband of a coworker works for a gas company. She was told that prices could jump 30 cents by this evening."

Think I'll go fill up at lunch.

KB

Rich Anderson · **Posted:** Mon Aug 29, 2005 11:44 am

Kevin Butler wrote:

Hey Ya'll,

Got this through the rumor mill in G'ville.

"The husband of a coworker works for a gas company. She was told that prices could jump 30 cents by this evening."

Think I'll go fill up at lunch.

KB

Since the hurricane covers a large percentage of the country's refining capacity, this would not be a surprise at all.

Kevin Hassell · **Joined:** Wed Sep 08, 2004 8:50 pm **Posts:** 174

Richard Casto · **Posted:** Mon Aug 29, 2005 2:55 pm

And in other news.

The earth continues to rotate around the sun.... :wink:

Kevin Hassell · **Joined:** Wed Sep 08, 2004 8:50 pm **Posts:** 174

yeah.. there's a guy here at work who's wife works in the accounting dept. for the pantry stores.

so apparently they're raising prices $0.40 by tomorrow.

David Spratte · **Posted:** Mon Aug 29, 2005 4:10 pm

I'm pretty sure that the fuel in the tank below the local Pantry didn't come up from the gulf this afternoon.

Makes an even larger margin on what they've already purchased. And I'll bet they'll pass on the actual increase when we come up short later this fall.

Really sucks for the people buying shares in heating oil for this coming winter.

Wes Eargle · **Joined:** Mon Oct 27, 2003 9:47 am **Posts:** 3683

All oil prices are based on speculation as to what will happen in the future. Gas prices at the pump are quick to take advantage of futures trading, but slow to realize bargains when they occur.

Todd Breakey · **Posted:** Mon Aug 29, 2005 8:10 pm

Nothing like a little price gouging to keep the country together.

Damn bastards. Makes me want an electric! :eek:

DickRasmussen · **Posted:** Mon Aug 29, 2005 8:17 pm

Has anyone actually seen these rumored drastic increases?

Dick

Stephen Westerfield · **Posted:** Mon Aug 29, 2005 8:31 pm

DickRasmussen wrote:

Has anyone actually seen these rumored drastic increases?

Dick

I drove by the same station (BP by the Golden Corral) at lunch and after work and it had increased 4 cents.

Aaron Buckley · **Posted:** Mon Aug 29, 2005 11:13 pm

I paid $2.49 at a Pilot for regular unleaded at 10:30pm tonight. No way it went up there. - AB

Kevin Butler · **Posted:** Mon Aug 29, 2005 11:22 pm

I couldn't stop to see at the pumps if I wanted to. There was a line at the gas station near my home that filled up the parking lot. It was kinda like a flash back to when I was a kid. :shock:

However, it didn't appear that the price signs had changed.

Kevin Hassell · **Joined:** Wed Sep 08, 2004 8:50 pm **Posts:** 174

someone on another forum had said that they saw prices over $3/gallon

Michael Westerfield · **Posted:** Tue Aug 30, 2005 8:06 am

I saw on the news this morning that "they" are predicting a 15 cent jump by the end of the week.

Rich Anderson · **Posted:** Tue Aug 30, 2005 8:38 am

Quote:

DOE May Open SPR to Meet Storm-Related Crude Shortfalls

Transport Topics

The Department of Energy may tap the nation’s Strategic Petroleum Reserve to help energy producers and refiners in the wake of Hurricane Katrina, Bloomberg reported Monday.

No oil companies have formally requested assistance, Bloomberg said, citing a DOE spokesman, but several, including Chevron Corp. and ExxonMobil Corp., shut down their Gulf of Mexico operations as Katrina moved through the gulf over the weekend.

Eight refineries in Louisiana and Mississippi with a daily capacity of 1.774 million barrels of crude oil were also shut, which account for about 9% of U.S. refining capacity, Reuters reported.

The SPR, which holds just over 700 million barrels of oil, became filled to capacity earlier this month.

Last year, DOE loaned 5.4 million barrels of crude to refiners whose supplies were disrupted by Hurricane Ivan in September.

Crude oil prices soared to more than $70 a barrel for the first time in overnight trading before Monday’s market opening of the New York Mercantile Exchange, before receding in early trading to between $68.45 in intraday trading, Bloomberg reported.

Crude’s previous high was $68 a barrel, reached in overnight trading before the Nymex opened last Thursday. Its closing record price was $67.49 that day.

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Gas Prices Going UP!!

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